Nestled in the heart of Gujarat's Sabarkantha district, Idar tehsil is abuzz with an extraordinary tale. Here, children, not yet 18, have demonstrated an uncanny sense of financial maturity that could make many adults rethink their financial habits. While most children their age might be dreaming of the next toy or treat, these young minds have prioritized their financial future. Through a commendable initiative called Bal Gopal Mandali, a flourishing local cooperative, they've managed to accumulate a whopping INR 5 crores!

It's hard to imagine, isn't it? 17,000 children, coming together with a shared vision, and achieving a collective savings of an impressive INR 16 crores till now. Out of this, INR 5 crores find a safe home in the children's bank operated by the cooperative.

This goes on to shatter the common belief that youngsters aren't capable of understanding the true worth of money. The children of Sabarkantha are living proof that with the right guidance and mindset, age is just a number.

Enter Ashwini Patel, the visionary president of this circle. She's a stalwart believer in the ideology that values, especially financial ones, need to be ingrained in young minds early on. According to her, a child who learns the essence of saving in their formative years is setting the stage for a lifetime of smart financial decisions. And it's not just about stashing away cash.

Instead of impulsively buying candies or toys with the money or gifts they receive, these children are encouraged to deposit their funds into the cooperative's savings bank. These saved amounts are later utilized for meaningful purchases, like educational materials. Moreover, they often come in handy during unforeseen family crises, acting as a much-needed financial buffer.

Diving deeper into the history of this laudable initiative, the seeds of this savings tradition were sown in Laloda village of Idar. From one family, the spark ignited a revolution, drawing nearly 17,000 children into its fold. The initiative now spans across the Sabarkantha and Aravalli districts, a testament to its widespread appeal.

The Bal Gopal Mandali has a well-structured process in place. Every month, an agent makes rounds, opening the savings box and ensuring the accumulated funds are duly deposited into the Mandali. Recognizing its impact, Union Minister Parsottam Rupala recently celebrated this initiative during a Lok Sabha session, casting a national spotlight on these young heroes.

So, where does the withdrawn money go? The answers are as heartening as the initiative itself. These funds aid in educational endeavors, embarking on new business ventures, or even buying vehicles. Ashwin Patel, the dedicated chairman of this cooperative society, shed light on their overarching mission: "Our objective is to bridge the educational void around the merits of savings. Our members, ranging from newborns to 18-year-olds, are taught the significance of fiscal responsibility." Highlighting their membership process, he said, "Parents pay a nominal fee of Rs 110 for their child's membership. In return, we gift them a piggy bank, starting their journey of savings as early as five."

But it's not just about savings. Emphasizing the holistic development of the children and their families, Ashwin Patel mentioned the society's success in promoting healthier lifestyles. "Owing to our continuous efforts, around 3,000 families have now given up tobacco," he proudly shared. The children, often on the receiving end of monetary gifts from house guests, are taught to feed their piggy banks instead of immediate splurges.

To maintain transparency, bank agents make monthly visits to children's homes, opening piggy banks under parental supervision, and providing receipts for the collected amounts.

Empowering Tomorrow’s Leaders Today in Himmatnagar, Gujarat | In an era where financial literacy has become a cornerstone of success, Bal Gopal Bank, situated in Himmatnagar's heart, stands out as a beacon of empowerment for the young. Functioning beyond a mere financial institution, this bank nurtures the seeds of financial wisdom, independent thinking, and holistic growth in the minds of children.

At the heart of this commendable initiative is a simple yet profound belief: Children should be introduced to the world of saving and financial responsibility from a tender age. Such early exposure not only cultivates a habit of saving but also equips them with a robust understanding of money. The bank rewards its diligent young savers with an attractive 6% interest on their savings.

Moreover, it extends loans at a rate of 12%. Ashvin Patel, an integral figure behind this initiative, explains the bank's prudent lending policy: "We offer credit up to a maximum of 50% of our total deposits. This ensures that we always have funds on hand to cater to the needs of our young members, be it a mid-term withdrawal or reaching the age of 18." Till date, the children have shown remarkable financial discipline, amassing savings of INR 16 crores.

But what truly sets Bal Gopal Bank apart is its underlying mission. Established in 2009, the "Bal Gopal Bachat ane Dhiran Karnari Sahkari Mandali Li." has been championing the cause of an 'independent life' for children. The philosophy is simple: Every child, from the dawn of their life, should be encouraged to save. When they turn 18 and are on the cusp of higher education or other significant milestones, the bank ensures they receive their savings along with the accumulated interest. This not only supports their immediate goals but also reinforces the larger vision of independent living.

But what does 'independent living' truly mean? It signifies the capability to assess various options, make informed decisions, and steer one's life's course. Such autonomy is achieved when individuals are armed with the right information, adequate financial means, and a robust peer support system. It’s a dynamic, ever-evolving journey, tailored to individual needs and circumstances. The bank's emphasis on fostering independent living resonates deeply, especially among those with disabilities, empowering them to navigate life’s challenges and barriers more effectively.

The brainchild behind this revolutionary movement is Ashvinbhai Patel. Founding the Bal Gopal Bachat And Dhiran Sahkari Mandli at Idar in 2009, he envisioned a world where every child, right from their infancy, is set on the path of financial independence, allowing them to achieve their aspirations without constraints.

A Glance at the Perks:

• A tangible way for children to save for future aspirations, be it a new gadget, bike, or academic pursuits.
• Inculcates a lifelong habit of saving.
• Fosters economic awareness.
• Shapes children into responsible adults.
• Paves the path for financial independence.

Connect with Bal Gopal Bank:

• Address: Damodar Complex, Bal Gopal Bachat Sahkari Mandli, 2nd Floor, Down to Anjali Hotel, Idar, Gujarat 383430.
• Phone: +91 9664742623
• Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Bal Gopal Bank isn't just a financial institution; it's a movement, a belief, and a promise for a brighter, independent tomorrow.