People’s Bank opens school banking unit with CDM at Dharmaraja College Kandy

A student opening the school banking unit, consisting of a cash deposit machine, while Senior DGM (Retail Banking) K. B. Rajapaksa hands over a gift

People’s Bank, with the aim of enabling students to experience digital banking, unveiled a school banking unit at Dharmaraja College, Kandy, recently, which consists of an NFC-enabled Cash Deposit Machine as well. Present on the occasion were Dharmaraja College, Kandy Deputy Principals Jagath Karunaratne, K. M. R. Konara Narampanawa, and Renuka Premathilaka, People’s Bank Senior Deputy General Manager (Retail Banking) K. B. Rajapaksa, and Regional Manager (Kandy Region) D. M. D. Dissanayake, Assistant Regional Managers, and Kandy Branch Manager Janaka Jayasinghe, along with Bank staff, teachers, and a large number of students.

The objective in installing the school banking unit is to allow students to conduct transactions safely using digital technology, while encouraging the savings habit. People’s Bank hopes to strengthen the savings habit amongst the students, thereby instilling a skill that can brighten their futures. The Bank has been inculcating the savings habit among school children since 1971, and successfully installed the very first school banking unit at Ananda College, Colombo in 2018.

With the help of the school banking unit, students are able to deposit funds into their Sisu Udana accounts without the hassle of paperwork, and check their account balance. Students also receive a handy NFC card which can be used as a student ID card that displays their name, photograph, and student ID number, which can be used to deposit money.