School teacher Pattem Venkatesham launched the novel idea to promote financial literacy among students and encourage savings from childhood
PEDDAPALLI, OCTOBER 21, 2025: The School of Bank Garrepalli (SGB) in Peddappalli is crusading in the financial literacy programme among the student community at Zilla Parishad High School, Garrepalli of Sultanabad mandal.
The SBG run by the students since its establishment on July 19, 2025, had earned deposits of Rs 55,000 within three months of launch made by the students through their pocket money. The Student bank has around 150 around account holders and 10 members of the students work as manager, assistant manager, accountant, clerk, help desk etc. The students maintain the records in the registers and deposit the end of day deposit in the local post office.
The students bank functions without distributing their school hours and would function from morning 8.45 am to 9 am, afternoon from 12.30 pm to 1 pm and evening 4.15 pm to 4.10 pm. The bank takes deposits in the morning and evening sessions and withdrawals in the evening hours.
A classroom was specially allotted to run the bank. The SBG also gives passbooks to the account holders, who had completed know your customer (KYC). The students maintain all types of bank records such as daily sheet ledger, cash book, monthly register and post office register to provide interest as per the post office rate of interest.
Brain-child behind this innovative and first-of-its-kind student bank in the integrated bank is school teacher Pattem Venkatesham. He designed the concept to help the students to expose financial literacy and savings for the future and also banking activities at the school level. Expressing satisfaction with the success of the School Bank, Mr Venkatesham thanked DEO Madhavi and school headmaster and other faculty members for their complete support for the success of the bank. He said that the students, parents and the villagers felt very strongly about setting up a student bank in their village.
V Akshith of ninth class acts as manager, P Kishtiji as cashier, P Aradhya as Accountant, K Sai Teja as clerk and others as help desk etc. The students said that they felt very happy to start a bank in their school and start saving their pocket money for future requirements. They thanked their teacher Venkatesham for their novel idea.
