Budgeting — The first step to financial literacy. Creating budgets to track income and expenses and identifying surplus. Budgeting involves understanding needs and wants and prioritisation of expenses.

Saving — Once surplus is identified, they are trained to use banks and their different savings products.

Debt Management — Understanding loans as a way of fulfilling emergency needs and goals. Understanding loans, proper and timely repayment, negative effects of loan defaults, Credit Bureau and its impact.

Banking channels and Digitisation — Today financial literacy includes an understanding of digital banking as also different banking channels available for financial products and transactions

The modules are delivered through a well-designed package that includes presentations, videos, interactive sessions, interactive Q&A, assignment and the sharing of personal experiences.

The Chillar Bank program was created to inculcate a saving habit among children and to educate them on managing bank accounts. This targets children between 12 and 17 and was created post an RBI directive to encourage children to open and manage savings bank accounts, independently.

The program has been redesigned to include Parinaam’s learnings over the years, making it more holistic and more impactful. The revamped Chillar Bank brings parents and children together in a two-pronged approach:

This brings the children a better understanding of family incomes and the importance of saving for future needs.