In a heartwarming tale of financial literacy and self-reliance, over 30,000 children in North Gujarat have become proud members of their very own children’s cooperative society, collectively saving over Rs30 crore to secure their educational future.
Launched in 2011 in Banaskantha district, the Bal Adhikar Yuvak Mandal (BAYM) Children’s Cooperative Bank is not just a savings scheme — it’s a revolution in grassroots financial empowerment. Children as young as 10 learn to save, manage funds, and even elect their own bank committee to take critical decisions.
Kids As Young as 10 Take Financial Charge
Operating from 300+ schools, these young members — mostly from rural and semi-urban families — deposit as little as Rs10 per week. Their goal? Funding college education, skill development, and family needs — without falling into debt traps or relying solely on government aid.
One student, 14-year-old Pooja, proudly says:
“Main apne college ke liye khud paisa jod rahi hoon. Mujhe doctor banna hai.”
(“I’m saving for my college myself. I want to become a doctor.”)
Democratic Values, Financial Wisdom
What sets BAYM apart is its democratic model. Every year, children elect a managing committee that makes real financial decisions, teaches accountability, and encourages participation in cooperative movements from a young age.
Guided by adult mentors and trained facilitators, the initiative has become a model for financial inclusion, child rights, and rural education support.
From Villages to Visionaries
From tribal pockets of Gujarat to national headlines, this initiative proves that empowering children with financial tools creates responsible citizens. Many of these kids, once unfamiliar with banks, are now teaching even their parents how to save.
“These children are not just saving money—they’re investing in their future, their families, and their country,” says one of the coordinators.
