Shambhu lives with his parents and his brother in Kirtinagar. Since he and his brother are literate, they were able to successfully explain to their parents the need and importance of using and maintaining a bank account, thus staying true to the spirit of this adage-“Padhega India to Badhega India”. They had decent knowledge about banks and the services provided by them. They did make use of the ATM card.
In lieu of her sons being financially literate, Shambhu’s mother decided to get a bank account opened. On going to the bank , she was asked to furnish documents apart from the Aadhar card when a Aadhar card serves more than sufficiently as a document of establishing identity. In addition to this, the bank officials were extremely brash in their behaviour towards her. These happenings impeded Shambhu’s mother from opening a bank account. Even though they knew a lot about the importance of financial competence in theory they were unable to implement it in practice due to incorrect information being disseminated to them by the bank authorities.
