Kilkari Bihar Bal Bhavan on Friday celebrated the annual ceremony of Bachcha Bank, an initiative to encourage its members to save money.

The event — Gullak Varshikotsava — was organised at Premchand Rangshala.

Eighteen-year-old Arvind Kumar, a former member of Kilkari Bihar Bal Bhavan, shared his experience with Gullak (Bachcha Bank). He had withdrawn Rs 5,000 from the bank two-and-a-half years back to contribute to his cousin’s marriage. Now, a Bal Sahyogi (child assistant), Arvind said: “My savings helped me assist my uncle and aunt when they were marrying off their daughter.”

Bachcha Bank is a platform that provides an opportunity to its members — children between the ages of nine and 15 years — to save money. A client of the bank can keep Rs 30 at the time of opening the account.

Naveen Kumar, the bank manager, said: “Till August 2013, Rs 12,29,000 have been deposited in the Bachcha Bank.”