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Amruta Deshpande educating children in Vidarbha

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Saquib Panjwani
Saquib Panjwani
Saquib Panjwani is a finance professional with keen interest in subjects like frauds, forensic accounting and finance.

Amruta Deshpande has taken initiative in educating children. Amruta Deshpande is a financial expert. She visits schools in Vidarbha to teach students the value of saving. She also tries to teach them how to instill this important habit.

Amruta Deshpande has been traveling the length of Vidarbha for the past three months with a single goal in mind: to teach financial literacy among the region’s young people.

The Maharashtra area of Vidarbha is known for its repeated droughts and farmer suicides caused by a debt cycle. Educating children in a poor areas is the main concern these days.

Her goal is to “catch them young” and instill the habit of saving so that families can live better lives under a variety of circumstances.

It is important educating children  to earn and save money

Amruta Deshpande is a cost accountant with vast experience in a variety of professions ranging from government to industry. After the lockdown was declared in March 2020, she returned to her hometown of Nagpur.

“With nothing to do, because I couldn’t work from home, I began writing two books. Banking Fundamentals introduced young children to the principles of banking and saving. The Saving and Banking Introduction is designed for college students,” Amruta says.

Both English and Marathi versions of Basics of Banking are accessible. It teaches children about saving using a storytelling structure that is supplemented with images. It also covers the RBI’s mission, banking history, bank facilities, the uses of a multi-purpose ATM, children’s programs, and other topics.

Amruta explains that there is no shortage of bright children who know how to make a living in remote places. However, she claims that they are not motivated to consider the long-term benefits of saving.

“I’ve met a lot of outstanding young men and women, but their only goal is to raise money for a worthy cause,” she continues. “Earn enough to buy a phone, for example, and then go for long periods without working until the next need arises.”

Begin teaching them when they are young

She started her campaign to teach financial literacy to the impoverished three months ago when she spoke at schools throughout the region. While educating children the country develops as a whole. Amruta has visited 65 schools and met with over 7,000 pupils thus far. She also offers online classes for college students and MPSC/UPSC candidates.

She leads us in a practice session.

“For the first 5-10 minutes, depending on the age of the audience, I give a savings lesson.” If they are younger than Class 5, I tell them stories about why it is important to save for the future. Following that, I take them through KYC, which outlines how the ATM system may be used for purposes other than cash withdrawals, such as paying utilities, buying train tickets, depositing cash, paying insurance premiums, and so on.” she says.

She goes on to educate them about the RBI’s responsibilities as the apex bank. She also discusses how bank tellers detect fake notes, the locker system, where coins are made, and other topics. In the end, the youngsters will have a thorough understanding of both savings and the banking system.

“The objective is to also educate their parents.” A Class 4 pupil, for example, deposited Rs 5,000 in the school bank. If we are educating children the parents are also educated at the same time. “When her mother was diagnosed with COVID, she used the money to get her to a decent hospital,” she explains.

In a place where many families have alcoholic husbands, leaving the women and children to face the burden of the household, financial literacy is a blessing. Even Children’s scholarship money is occasionally squandered by their fathers.

“Because they don’t have any other source of financial education, these programs help the kids save wisely,” she adds.

Saving for the future is important

Amruta also gives tips on how to save money.

“I am completely opposed to these folks investing in the stock market since they do not have extra cash to do so.” There are a plethora of post-office schemes, RBI bonds, and other government-sponsored savings plans that provide a regular return on investment.” Her interactive teachings have been highly received, with children eager to participate.

Amruta is doing this on her own, with no outside assistance or participation, and she is paying for her travel and other expenditures. She is not, however, opposed to an appropriate partnership to spread this program to the rest of Maharashtra.

“I plan to teach impoverished youngsters and produce books in Braille or audio format.” My next step would be to teach college students how to read and understand annual budgets. Educating children is a good initiative.  “At the same time, I’m looking for a position in the banking sector,” Amruta explains.

How Certified Bank Forensic Accountant (CBFA) helped Amruta Deshpande

According to Amruta Deshpande, CBFA is the greatest banking fraud certification course. The course, she claims, is based on real-life case studies and dialogues. Learning becomes more relatable and exciting as a result. This is the first program of its sort.

She claims that CBFA knows the ins and outs of how banks operate and execute. It also focuses on areas where there is a risk of bank fraud. Cooperative bank failures have raised awareness. The Reserve Bank of India currently regulates cooperative banks. Amruta Deshpande credits CBFA with helping her comprehend the fundamentals of the banking business. She claims that CBFA is critical in understanding the banking industry.

Amruta Deshpande believes that people should learn the principles of saving. According to Amruta Deshpande, CBFA is a good option for anyone who wishes to learn the fundamentals of banking, savings, investment, and baking fraud. CBFA, she claims, played a significant influence on her financial path.

It enhanced my understanding of the bank working practice.  Amruta Deshpande defined CBFA.  A banker, bank audit specialist, or consultant is regarded as Certified Bank Forensic Accountant (CBFA). He’s a forensic accountant. This assists him in becoming a banking business expert.”

She claims that this credential has greatly aided her. It was first begun in 2006. It is one of the oldest and greatest courses for understanding the banking industry and the frauds associated with it. Amruta Deshpande claims.

This course helped me grasp how to manage various risks. Fraud, money laundering, and financial risks are examples of dangers. Amruta Deshpande states. Overall, this is an excellent course for expanding your knowledge of the banking system, money laundering, and so on. Amruta Deshpande states.

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