SED intends to open bank accounts of govt school students

SED intends to open bank accounts of govt school students

Aim is to transfer perks through DBT mode


Srinagar, Sept 10: The School Education Department (SED) is intending to open bank accounts of all the students enrolled in government institutions so that learners will avail perks which would be transferred to them through Direct Bank Transfer (DBT) mode.

Deputy Director Planning of Samagra Shiksha, Bilal Rashid said that in this regard, a meeting was held in the office chambers of the Principal Secretary SED that was attended by the officers of the department and Jammu and Kashmir Bank representatives.
Meanwhile, Rashid in a communiqué issued to Chief Education Officers (CEOs) of Jammu and Kashmir said, “The idea is that people should be given online information about all the services being provided by the government financial literacy and financial inclusion of all stakeholders, especially of all the students of Jammu and Kashmir is much required to make them self-sustained in the present digital era.”

“School Education Department intends to cover all the students under the financial inclusion that is the process of ensuring access to appropriate financial products and services,” he said.
The officer further said that “During the joint meeting held in the office of Principal Secretary, SED that was attended by the officers of the department and Jammu and Kashmir Bank representatives, it was decided that for financial inclusion of all the students of UT, bank accounts of each and every student shall be opened in the first instance, so that benefits under various schemes may be transferred to them through DBT.”
“For this purpose, JK Bank authorities have agreed to deploy their officials in various schools, for the opening of accounts of students,” he said.

Rashid said that he was directed to request all CEOs to circulate the instructions in this regard that needs to be adhered to in letter and spirit.
“Head of the institutions or senior teachers shall extend full cooperation and facilitation to visiting officials of JK bank for ‘Financial Literacy Programme’ and ‘Account opening’,” he said.
The officer added that in case the bank account of the student is already opened, then Aadhaar seeding shall be done, wherever required.

“Teachers shall collect the copy of Aadhaar duly attested by the teacher, two passport size photos. They also shall ensure that the D.O.B on the Aadhaar should match the D.O.B of school records, as the bank will take the attested copy of the Aadhaar as valid DOB proof,” Rashid said.

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