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3 August 2012

The bank run by Indian street children

The Children's Development Khazana helps Indian street kids guard their money.

By Alex Hern

AFP, via Kottke:

The Children’s Development Khazana (treasure chest) opened its first office in New Delhi 2001 and has since spread across the country and overseas with 300 affiliated branches in India, Nepal, Bangladesh, Afghanistan, Sri Lanka and Kyrgyzstan.

Delhi counts 12 branches with around 1,000 child clients aged between nine and 17.

The brightly painted metal cubicles which serve as teller counters are located in shelters that provide children with free meals and sleeping mats, as well as school classes.

The branches are run almost entirely by and for the children, with account holders electing two volunteer managers from the group every six months.

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Interestingly, child labour is technically illegal in India. The fact that this bank hasn’t been shut down by the authorities shows that someone in charge at least understands that sometimes, strict application of the rules isn’t all its cracked up to be.