Guwathi: It would be mandatory for all school students from Classes I to XII studying in government schools to have bank accounts. Assam government has decided to make bank accounts mandatory for all for students of the state to train children on the management of financial skills and inculcating good financial habits on savings. The state government has decided to implement the policy of giving a direct benefit transfer to students from Class 1-12. The Axom Sarba Siksha Abhiyan Mission office has asked all district education authorities to initiate the process to make bank accounts.

B. Kalyan Chakravarthy, Mission Director of Samagraa Siksha, Assam through an official letter directed the Inspectors of Schools and also the District Elementary Education Officers (all districts) to take necessary action to ensure opening of bank accounts by following the corona protocols. A letter sent by Samagraa Siksha, Assam MD B Kalyan Chakravarthy reads, “Bank account is to be opened for students from Class-I to XII of all categories of schools, including students of Special Training Centres, residential schools, KGBVs, model schools etc. It will be a massive exercise for the state. The whole exercise is to be completed by November 30, 2020."

Let us tell you that a natural or legal guardian can open the bank account either on behalf of a minor or jointly with the minor. The guardians will have to operate the accounts for accounts of minors below 10 years.  For students below 10 years, it will be joint accounts operated by guardians.All students, the bank accounts will be opened with zero balance.

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