An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch)

Ghulam Rabbany; Din-il-Islam; Fatema Tus Sadia

doi:doi:10.11648/j.ijefm.20150306.15

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An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch)

Ghulam Rabbany, Din-il-Islam, Fatema Tus Sadia

Published in International Journal of Economics, Finance and Management Sciences (Volume 3, Issue 6)

Received: 3 November 2015 Accepted: 29 December 2015 Published: 25 January 2016

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Abstract

JANATA Bank Limited was born with a new concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development of the country. Very recently, BANGLADESH BANK has launched a scheme for the students named ‘School Banking Scheme’ through all commercial and specialized banks in Bangladesh. This concept is new as a separate product but became a popular one within two years with a view to inspiring for savings and creating savings mentality to the school going students with an attractive interest rate, waiver of service charges like other deposit accounts. BB issued a circular on 2nd November, 2010 to all commercial Banks for all school going students to be introduced with developed technology and banking services to play role in financial activities by savings. Up to this period more than 38 banks launched this scheme. But the rules and regulation to operate this kind of account is still ambiguous to all guardians as well as officials that how to open and operate, what necessary documents are needed to open this account from the students though every banks kept about all scheme through website. According to updated statistic of Bangladesh Bank Up to June’2011 to December’2011 more than 67 thousand 220 numbers of school banking accounts was opened and operated under banking jurisdiction. Approximately taka 31 crore was deposited under 29 thousand number of school banking accounts and taka 22 core 39 lac has been increased within six month difference. According to Private statistic there are 65 thousand and 428 numbers of accounts are in the form of school banking deposit account and deposit amount came to about taka 42 core 37 lac. Due to lack in publicity school banking scheme did not overcome its objectives like other deposit schemes. By this scheme most of students can able to build up capital for their future and besides this banks not only use to recurring deposit but also play a social role in the country. This program would be the milestone for the school banking operation for the students and guardians and for the bankers who will introduce the scheme.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 3, Issue 6)
DOI	10.11648/j.ijefm.20150306.15
Page(s)	685-694
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

Economic Development, Interest Rate, School Banking Scheme, Service, Saving

References

[1]	Annual reports of JANATA Bank Ltd. 2014, 2013, 2012.
[2]	Khan. M. Y. And Jain, P. K: Financial Management, Tata McGraw-Hill.
[3]	Kothari, C. K. Research Methodology.
[4]	Pandy, I. M: Financial Management.
[5]	Rose and wester field: Financial Management
[6]	Hannan, A. S. and Shaheed, A. 1998 Financial Position and Performance analysis of Bangladesh Shilpa Bank, Islamic University Studies, Volume-1, June 1998.
[7]	Shekar, K. C.: Bank Management.
[8]	Shekar, K. C.: Banking Theory and Practice.
[9]	Malhotra, N. K.: Marketing Research.
[10]	Straub, J.; Attner, R. F: Introduction to Business.

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APA Style

Ghulam Rabbany, Din-il-Islam, Fatema Tus Sadia. (2016). An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch). International Journal of Economics, Finance and Management Sciences, 3(6), 685-694. https://doi.org/10.11648/j.ijefm.20150306.15

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ACS Style

Ghulam Rabbany; Din-il-Islam; Fatema Tus Sadia. An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch). Int. J. Econ. Finance Manag. Sci. 2016, 3(6), 685-694. doi: 10.11648/j.ijefm.20150306.15

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AMA Style

Ghulam Rabbany, Din-il-Islam, Fatema Tus Sadia. An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch). Int J Econ Finance Manag Sci. 2016;3(6):685-694. doi: 10.11648/j.ijefm.20150306.15

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@article{10.11648/j.ijefm.20150306.15,
  author = {Ghulam Rabbany and Din-il-Islam and Fatema Tus Sadia},
  title = {An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch)},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {3},
  number = {6},
  pages = {685-694},
  doi = {10.11648/j.ijefm.20150306.15},
  url = {https://doi.org/10.11648/j.ijefm.20150306.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20150306.15},
  abstract = {JANATA Bank Limited was born with a new concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development of the country. Very recently, BANGLADESH BANK has launched a scheme for the students named ‘School Banking Scheme’ through all commercial and specialized banks in Bangladesh. This concept is new as a separate product but became a popular one within two years with a view to inspiring for savings and creating savings mentality to the school going students with an attractive interest rate, waiver of service charges like other deposit accounts. BB issued a circular on 2nd November, 2010 to all commercial Banks for all school going students to be introduced with developed technology and banking services to play role in financial activities by savings. Up to this period more than 38 banks launched this scheme. But the rules and regulation to operate this kind of account is still ambiguous to all guardians as well as officials that how to open and operate, what necessary documents are needed to open this account from the students though every banks kept about all scheme through website. According to updated statistic of Bangladesh Bank Up to June’2011 to December’2011 more than 67 thousand 220 numbers of school banking accounts was opened and operated under banking jurisdiction. Approximately taka 31 crore was deposited under 29 thousand number of school banking accounts and taka 22 core 39 lac has been increased within six month difference. According to Private statistic there are 65 thousand and 428 numbers of accounts are in the form of school banking deposit account and deposit amount came to about taka 42 core 37 lac. Due to lack in publicity school banking scheme did not overcome its objectives like other deposit schemes. By this scheme most of students can able to build up capital for their future and besides this banks not only use to recurring deposit but also play a social role in the country. This program would be the milestone for the school banking operation for the students and guardians and for the bankers who will introduce the scheme.},
 year = {2016}
}

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TY  - JOUR
T1  - An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch)
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AU  - Din-il-Islam
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DO  - 10.11648/j.ijefm.20150306.15
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
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AB  - JANATA Bank Limited was born with a new concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development of the country. Very recently, BANGLADESH BANK has launched a scheme for the students named ‘School Banking Scheme’ through all commercial and specialized banks in Bangladesh. This concept is new as a separate product but became a popular one within two years with a view to inspiring for savings and creating savings mentality to the school going students with an attractive interest rate, waiver of service charges like other deposit accounts. BB issued a circular on 2nd November, 2010 to all commercial Banks for all school going students to be introduced with developed technology and banking services to play role in financial activities by savings. Up to this period more than 38 banks launched this scheme. But the rules and regulation to operate this kind of account is still ambiguous to all guardians as well as officials that how to open and operate, what necessary documents are needed to open this account from the students though every banks kept about all scheme through website. According to updated statistic of Bangladesh Bank Up to June’2011 to December’2011 more than 67 thousand 220 numbers of school banking accounts was opened and operated under banking jurisdiction. Approximately taka 31 crore was deposited under 29 thousand number of school banking accounts and taka 22 core 39 lac has been increased within six month difference. According to Private statistic there are 65 thousand and 428 numbers of accounts are in the form of school banking deposit account and deposit amount came to about taka 42 core 37 lac. Due to lack in publicity school banking scheme did not overcome its objectives like other deposit schemes. By this scheme most of students can able to build up capital for their future and besides this banks not only use to recurring deposit but also play a social role in the country. This program would be the milestone for the school banking operation for the students and guardians and for the bankers who will introduce the scheme.
VL  - 3
IS  - 6
ER  -

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Author Information

Ghulam Rabbany

Department of Agribusiness and Marketing, Faculty of Agribusiness Management, Sher-e-Bangla Agricultural University, Sher-e-Bangla Nagar, Dhaka, Bangladesh
Din-il-Islam

Department of Agribusiness and Marketing, Faculty of Agribusiness Management, Sher-e-Bangla Agricultural University, Sher-e-Bangla Nagar, Dhaka, Bangladesh
Fatema Tus Sadia

Department of Agribusiness and Marketing, Faculty of Agribusiness Management, Sher-e-Bangla Agricultural University, Sher-e-Bangla Nagar, Dhaka, Bangladesh

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APA Style

Ghulam Rabbany, Din-il-Islam, Fatema Tus Sadia. (2016). An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch). International Journal of Economics, Finance and Management Sciences, 3(6), 685-694. https://doi.org/10.11648/j.ijefm.20150306.15

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ACS Style

Ghulam Rabbany; Din-il-Islam; Fatema Tus Sadia. An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch). Int. J. Econ. Finance Manag. Sci. 2016, 3(6), 685-694. doi: 10.11648/j.ijefm.20150306.15

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AMA Style

Ghulam Rabbany, Din-il-Islam, Fatema Tus Sadia. An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch). Int J Econ Finance Manag Sci. 2016;3(6):685-694. doi: 10.11648/j.ijefm.20150306.15

Copy | Download

@article{10.11648/j.ijefm.20150306.15,
  author = {Ghulam Rabbany and Din-il-Islam and Fatema Tus Sadia},
  title = {An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch)},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {3},
  number = {6},
  pages = {685-694},
  doi = {10.11648/j.ijefm.20150306.15},
  url = {https://doi.org/10.11648/j.ijefm.20150306.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20150306.15},
  abstract = {JANATA Bank Limited was born with a new concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development of the country. Very recently, BANGLADESH BANK has launched a scheme for the students named ‘School Banking Scheme’ through all commercial and specialized banks in Bangladesh. This concept is new as a separate product but became a popular one within two years with a view to inspiring for savings and creating savings mentality to the school going students with an attractive interest rate, waiver of service charges like other deposit accounts. BB issued a circular on 2nd November, 2010 to all commercial Banks for all school going students to be introduced with developed technology and banking services to play role in financial activities by savings. Up to this period more than 38 banks launched this scheme. But the rules and regulation to operate this kind of account is still ambiguous to all guardians as well as officials that how to open and operate, what necessary documents are needed to open this account from the students though every banks kept about all scheme through website. According to updated statistic of Bangladesh Bank Up to June’2011 to December’2011 more than 67 thousand 220 numbers of school banking accounts was opened and operated under banking jurisdiction. Approximately taka 31 crore was deposited under 29 thousand number of school banking accounts and taka 22 core 39 lac has been increased within six month difference. According to Private statistic there are 65 thousand and 428 numbers of accounts are in the form of school banking deposit account and deposit amount came to about taka 42 core 37 lac. Due to lack in publicity school banking scheme did not overcome its objectives like other deposit schemes. By this scheme most of students can able to build up capital for their future and besides this banks not only use to recurring deposit but also play a social role in the country. This program would be the milestone for the school banking operation for the students and guardians and for the bankers who will introduce the scheme.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - An Overview of School Banking Program: Its Problems, Prospects and Acceptability (A Case Study on Janata Bank Limited Shamoli Corporate Branch)
AU  - Ghulam Rabbany
AU  - Din-il-Islam
AU  - Fatema Tus Sadia
Y1  - 2016/01/25
PY  - 2016
N1  - https://doi.org/10.11648/j.ijefm.20150306.15
DO  - 10.11648/j.ijefm.20150306.15
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 685
EP  - 694
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20150306.15
AB  - JANATA Bank Limited was born with a new concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development of the country. Very recently, BANGLADESH BANK has launched a scheme for the students named ‘School Banking Scheme’ through all commercial and specialized banks in Bangladesh. This concept is new as a separate product but became a popular one within two years with a view to inspiring for savings and creating savings mentality to the school going students with an attractive interest rate, waiver of service charges like other deposit accounts. BB issued a circular on 2nd November, 2010 to all commercial Banks for all school going students to be introduced with developed technology and banking services to play role in financial activities by savings. Up to this period more than 38 banks launched this scheme. But the rules and regulation to operate this kind of account is still ambiguous to all guardians as well as officials that how to open and operate, what necessary documents are needed to open this account from the students though every banks kept about all scheme through website. According to updated statistic of Bangladesh Bank Up to June’2011 to December’2011 more than 67 thousand 220 numbers of school banking accounts was opened and operated under banking jurisdiction. Approximately taka 31 crore was deposited under 29 thousand number of school banking accounts and taka 22 core 39 lac has been increased within six month difference. According to Private statistic there are 65 thousand and 428 numbers of accounts are in the form of school banking deposit account and deposit amount came to about taka 42 core 37 lac. Due to lack in publicity school banking scheme did not overcome its objectives like other deposit schemes. By this scheme most of students can able to build up capital for their future and besides this banks not only use to recurring deposit but also play a social role in the country. This program would be the milestone for the school banking operation for the students and guardians and for the bankers who will introduce the scheme.
VL  - 3
IS  - 6
ER  -

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