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PUNE: The Mann Deshi Foundation of Satara, working for the empowerment of rural women, has come up with a scheme for girls to pursue education beyond Std VIII. Under the scheme, a girl can open a bank account on which the bank will add 5% interest as well as deposit 5% of the cumulative savings and interest earnings as its contribution.
Each account will have to be opened in the Mann Deshi Mahila Cooperative Bank, part of the foundation. Parents of the beneficiary girl have to decide on a certain amount they will be depositing periodically.
Since the income level of these families is low, amounts as small as Rs 50 will also be accepted by the bank. Any girl studying in std VIII can join the scheme, said founder of the bank, Chetna Gala Sinha.
She added, "Lack of funds for fees and other educational expenses prevents many girls in rural areas from pursuing an education. In many areas, junior and senior colleges are not available, so the students have to stay away from home to continue with their education. The amount collected in two years is expected to provide sufficient monetary support for further education of the girl."
Once the girl clears the Secondary School Certificate (Std X) examination, she can withdraw money from the account for further education or the family can continue depositing the money and use it for her under-graduate studies, Sinha said.
"Some girls have already enrolled for the scheme and opened accounts. The foundation was already offering scholarships to bright girls from the rural areas of Satara, but with this scheme, more girls can get funds for further education," she added.
http://timesofindia.indiatimes.com/city/pune/Bank-to-start-scheme-to-help-girls-education/articleshow/17303204.cms
Each account will have to be opened in the Mann Deshi Mahila Cooperative Bank, part of the foundation. Parents of the beneficiary girl have to decide on a certain amount they will be depositing periodically.
Since the income level of these families is low, amounts as small as Rs 50 will also be accepted by the bank. Any girl studying in std VIII can join the scheme, said founder of the bank, Chetna Gala Sinha.
She added, "Lack of funds for fees and other educational expenses prevents many girls in rural areas from pursuing an education. In many areas, junior and senior colleges are not available, so the students have to stay away from home to continue with their education. The amount collected in two years is expected to provide sufficient monetary support for further education of the girl."
Once the girl clears the Secondary School Certificate (Std X) examination, she can withdraw money from the account for further education or the family can continue depositing the money and use it for her under-graduate studies, Sinha said.
"Some girls have already enrolled for the scheme and opened accounts. The foundation was already offering scholarships to bright girls from the rural areas of Satara, but with this scheme, more girls can get funds for further education," she added.
http://timesofindia.indiatimes.com/city/pune/Bank-to-start-scheme-to-help-girls-education/articleshow/17303204.cms
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