BANKING IS CHILD'S PLAY

Yes, it’s true, not joking, child labors in Delhi are running a Bank called “Children’s Development Bank”, facilitated by Delhi based NGO Butterflies. Even depositors, customers and employees are children.

The Bank opens in the evening because that’s the time when children get time after finishing their chores. Bank operates both saving and current accounts. Country coordinator of CDB believes such initiative makes the children feel confident as it inculcates the habit of saving in them. Moreover as the bank is managed and control by children, it becomes a tool for skill education.

The CDB also disburses advances to the children. The age for procuring an advance is between 15 and 18. The children use advances for setting up small businesses. However one has to undergo strict procedure before procuring advances from the bank.

The all India disbursal of CDB between 2004 and 2007 was around Rs. 400000. Of this bank recovered Rs. 225000 till date.