With the perspective to develop the savings habits among the students, A regional rural bank Pragathi Krishna Gramin Bank has launched Junior Rupay ATM debit cards for the students. The bank has introduced these cards for the children above the age of 10 years.
For the first time a bank has launched such a facility to help the students and inculcate the savings habits among the students. The process to get the card is simple A child could open a savings bank account in any of the 632 branches of the bank by submitting an application form with a passport size photograph, a declaration-cum-no-objection from the guardian.
An interesting feature is that account can be opened with the Zero balance and a passbook will be handled to the customer, along with the Rupay debit Card. The card could be used to draw cash up to Rs. 5,000 a day and also make payments up to Rs. 2,000 at point of sale.