PNB, ING Vysya teach children money concepts

By Chhavi Tyagi , afaqs!, New Delhi | In Advertising | December 01, 2008
Punjab National Bank is looking to get some young customers, while ING Vysya Bank is carrying out its social responsibility drive

Who & #BANNER1 & # could teach Indian children financial concepts better than a bank?

Punjab National Bank (PNB) has come out with special Savings Funds accounts for schoolchildren and, in a bid to popularise these, has launched a huge on-ground activation. The nationwide campaign involves organising multipurpose camps for schoolchildren. They are informed about their career prospects and given medical checkups while learning all about saving and, more importantly, investing money wisely.

A PNB official tells afaqs!, "We kept in view the fact that there is a need to inculcate the habit of saving and to develop banking habits in students and tap them as our potential customers."

The month long campaign, which got over on November 30, included several activities for children, such as an all India essay writing competition, with prizes.

ING Vysya Bank's recent digital initiative, called, was along the same lines. Now, the management is talking about taking this digital initiative on-ground. The first phase of the campaign will involve talking to underprivileged children in South India on the importance of saving money.

Sonalee Panda, product and marketing head, ING Vysya Bank, tells afaqs!, "We will launch an on-ground campaign for underprivileged children as part of our corporate social responsibility drive. The objective is to create awareness amongst these children in an easy, fun way. At present, we are finalising the details of the campaign, but the first phase will start in South India within the next month."

According to the PNB official, the bank is using print and outdoor to promote the new accounts, but the execution of the on-ground activities is being handled internally. He says, "One of our empanelled agencies was engaged for the designing of the posters, banners, etc., and the print media campaign. All the other activities are being undertaken by our staff in the field and at the head office."

Like PNB, ING Vysya has also opted to handle the activation itself, without seeking the help of any agency.

What is also common between the two campaigns is that both talk of creating financial awareness amongst the young citizens of the country, a move that will make the children's parents very happy.