Description of Challenge
Overcoming lack of social security.A pioneering Indian bank is teaching the impoverished children of an overcrowded neighbourhood in Ahmedabad how to save for a crisis.
Solution
Sarjan Bank bank at Sankalit Nagar in the neglected western neighbourhood of Juhapura, India, is proving highly popular with local pre-teens – who are also helping to run it.
Operated by a non-profit organisation, the bank has provided families that have fallen on hard financial times, a beacon to rely on. As it allows children to save money, and also has teens that help run the bank, it sparks the economic intelligence of children, while they learn how money can be used to create a better livelihood for the family.
At the same time, the bank has become a social meeting place for both children and adults.
