The Young Chronicle: For 2nd Graders November 8th,2014 | Page 4

YOUNG CHRONICLE

November 8th, 2014

Life Skills
What is a Bank Account
Rambo and Pranks have heard your parents talk about taking
out money from the bank, or ATM Machine. What is a bank?
Why do people put and take out money in a bank?

What does this mean exactly? What does a
bank actually do? Why do people deposit

You are lucky that your parents love you so much and
take care of everything you need. But there are many
children on the roads, working in shops, who have to
work instead of going to school or beg on the streets.
You wouldn’t remember, but your parents gave you
Polio and other injections when you were born, so that
you didn’t get diseases. Many children don’t get them.
Many children are not as lucky as you.

money in a bank?

Well, a bank is a place where people put in money, so that it
is kept safely and they earn interest on it. Typically, banks
offer 4-6% interest on savings. So if you deposit Rs. 100, and
keep it in a bank for a year, you could earn Rs. 6 extra if your
bank gives you 6% interest. So you would have Rs. 106 with
you at the end of the year. Isn’t this cool? So if you put in
1)
more money you could earn much more.
2)

Now, why does a bank give you money? When you put in
money, the bank uses your money to earn more money.
They lend that money or give loans to other people, and
companies. When they lend money, they earn more interest
(typically, a bank charges 10-13% interest on loans). Since
they earn more interest from your money, they give you a
part of it.

You Should Know What The
Rights of All Children Are

So the government has some rights for all children.
The government jails the people who don’t give the
children the rights below. So if you find anyone not
giving these rights, call the police immediately.
Right to Survival:

3)
4)

1) Every child has the right to be born. Some people
kill girl children even before they are born. This is
wrong, and such people can go to jail.

5)
6)

So when a bank lends Rs. 100 to other people as a loan,
they could earn Rs. 110 to 113, of which they give you Rs.
106, and keep the remaining money with them selves.

2) It is every child’s right to get basic medical care. So
the government gives injections to all babies free, or
at very little cost. So, if your maid has a child, ask her
if she has gone to the nearest government hospital to
give her child the dose.

7)
8)

What is an ATM Machine?

3) Every child has the right to minimum standards of
food, shelter and clothing. This is why the government
has orphanages and3childcare homes. Find out where
the childcare home in your city is, and if you see a
child begging, tell him or her to go there.

An ATM (or Any Time Money) Machine, does exactly what its
name suggests. When papa or mumma insert their ATM card
in the machine, the
9)
machine connects
10) 4) Every child has the right to live with dignity. For
with your bank
example, even if a child is a girl, or is born
account. When you
handicapped, he or she has to be offered love and
punch in the amount
care.
to be withdrawn, the
money gets
3) Right to Protection:
deducted from the
4)
bank account
5) Every child has the right to be protected. His health
straight. Isn’t that
needs to be taken care of. He/ she should not be
cool.

beaten, or taken advantage of at home or ay where
else.

6)
7) Right to Development:
All children have the right to education, love and care,
food, and play.