A Useful Session on Global Money Week

On March 19 2024 Adhyayan school conducted a session in collaboration with Nabil Bank school and we were included as the participants. The session was about banking and how to save money for future use. The session was an informative session for me. There were in total 4 members from  Nabil bank. One of the members gave the introduction of other members. We got insights about the establishment of the bank and the various functions that it carries out.

Nabil Bank Limited, the first foreign joint venture bank of Nepal, started operations in July 1984. Nabil was incorporated to extend international standard modern banking services to various sectors of society. They introduced their objectives and taught us about “Global Money Week” (GMW). 

The significance of this campaign lies in ensuring that young people become financially aware from an early age, gradually acquiring the knowledge, skills, attitudes, and behaviors needed to make sound financial decisions and ultimately achieve financial well-being.

We also learned about the loan system in banks. While continuing the session the members asked each of us about the loan system. After the questions and answers session, they explained to us about the loan. We were made clear about some information like: Where can we take the loan from? or What is the limit of taking out a loan? Or What criteria or rules are there to follow before taking loans etc? We learned that while taking a loan out of the bank, in many cases, the lender also adds interest or financial charge to the principal value, which the borrower must repay in addition to the principal balance. While he was explaining this I was reflecting upon my mathematics lesson on simple interest. They also told us that taking a loan varies from person to person’s deposited amount. The motive of this session was to give valuable insight to all teenagers like us about costs and savings so that we can be aware of ‘what to spend and what to save for?’.

At the end of the session, there was a small question and answer. A session where we got chocolate for asking questions. This session was very informative and I will want to be invited to this session again. And I also hope I will use those tips in my life too.

Vision Dahal,

Grade IX

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