Suhas, a scholar in Aradeshanahalli’s Government Higher Primary School, visits the bank each month to payment his pocket money. He has so far saved Inr. 2,000 and plans to keep doing so until he can purchase a new vehicle.
Suhas is one of the 47 sixth-graders enrolled in the government school in Aradeshanahalli who are pursuing financial literacy through a program run by the Kempegowda International Airport Foundation (KIAF), the CSR division of Bangalore International Air Limited (BIAL).
“I enjoy the financial literacy courses and am looking forward to taking them this year.” I enjoyed the lessons on the distinction between wants and needs. I’ve started to think before making purchases and have reduced my needs. He tells SocialStory,” I am learning how to manage my cash properly and I understand the concept of saving through these periods.
As part of the ten-year MoU with the Department of Education, Government of Karnataka, KIA has rebuilt the university.
The American Consulate General provided funding for the pilot program, which started last July and ended earlier this month.
According to Hemanth Madegowda, AVP of Corporate Social Responsibility at the International Airport, students should be taught financial management from a youthful era. It is a behavioral modification that cannot be taught in an instant.
He also clarifies that the majority of students at this school are the offspring of industrial workers and daily wage workers who frequently experience financial problems, making financial education essential for them. The Bangalore remote region includes Aradeshanahalli.
These kids will pick up economic knowledge that they can use at home to contribute to their family’s financial well-being, he continues.
Each period lasts between 40 and an afternoon. A knowledge of money, the distinction between need and want, benefits, attention, loans, and credit are just a few of the 30 concepts covered in the program.
Navyashree, a student in the same class, even shares: “Before these, I used to use any income I was given to get snacks, but now I save the majority of it.” Additionally, this new curriculum has expanded our public information.
These groups have already been taught by two trainers, but Madegowda says that this year, additional teachers will be taught how to get them.
He continues by saying that the kids learn the principles through engaging routines.
For example, students are told that they have Rs 50 and are at a store where they are asked to buy different things in order to teach them the distinction between needs and wants. Students are given the chance to make decisions and choose between various goods in accordance with their needs and wants through this exercise.
An activity-based assessment is carried out after each five classes to gauge the students ‘ comprehension.
Simply sixth-graders have so far signed up for the program. These meetings will soon be made available to students in class seven, though. Madegowda goes into detail about how this job may be carried out for three years in the current school before being expanded to other institutions.
In addition to Aradeshanahalli, BIAL has also incorporated four additional state schools into the Devanali Taluk of Bengaluru Rural District.
These schools now have better equipment. These colleges now have solar power, healthy water, laboratory, and furniture.
The Aradeshanahalli state school’s Navyashree hours it and adds, “The class was previously in disrepair.” There was only one restroom available to both teachers and students, and it was in poor shape. Previously, we just got breakfast, but then we get day tiffin with milk. We now offer activity-based groups like Karate and others.
Additionally, BIAL collaborates with the Karnataka state to assist students by providing them with meal, learning materials, and access to subject matter experts. Additionally, they concentrate on encouraging students’ recreational activities.