Bardibas, December 8:

Children in Bardibas village development committee of Mahottari district are involved in piggy banking, a saving scheme that utilises khutruke (a wooden or clay box) to save money.

The piggy banking scheme for children was introduced by the local Women Centre Multipurpose Cooperative Ltd, under which 40 children are taking part currently.

The cooperative has provided locked wooden khutrekes to children to save money from their regular expenses. The organisation collects the money from khutrekes of each child once in a month and deposits it in the accounts of the respective child, Ambika Baniya, treasurer of the cooperatives, said.

Dipta Subedi (13), the daughter of Dipak Subedi of Bardibas-7, said she has saved over Rs 7,000 after slashing unnecessary expenses under the scheme.

Like Dipta, eight-year-old Monika Purbachhane has saved over Rs 3,000, Sita Ranamagar (10) has saved Rs 5,000, Swostika Ghimire (8) has saved Rs 4,500, Bihesh Bhujel (10) has saved Rs 4,000 by mid-November, according to Anita Bhattarai of the cooperatives. Usha Dhakal, secretary of the cooperatives, said that the saving scheme has been gaining popularity and over 40 children have already been taking part in it.

Bhim Bahadur Bhujel, the father of Suman Bhujel, who is also involved in the piggy banking, said the kids have stopped spending unnecessarily in unproductive activities.

Sharada Dahal, chairman of the cooperatives, said that it provides seven per cent annual interest on the saved amount and interest is added to the principal amount every year.