10 Lines on World Savings Day: The phrase’ Penny saved is a penny earned’ highlights the importance of savings right from our childhood. Savings is a path to success, and the saved money can be used during tough times and emergencies. Thus, savings is another form of investment.
World Savings Day was established on October 31, 1924, and slowly gained momentum after the Second World War. This day is renowned globally for spreading the importance of savings and for intensifying the number of transactions. Through World Savings Day, people take a step to contribute to the economic growth of the country.
The below-mentioned ten lines are provided for kids, children, and students. The below-mentioned lines are aimed to aid in the formulation of debates, assignments, paragraph writings, tests, and essays on World Savings Day.
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Set 1 – 10 Lines on World Savings Day for Kids
Set 1 is helpful for students of Classes 1, 2, 3, 4 and 5.
- World Savings Day is globally observed on October 31, since its inception in 1924.
- World Savings Day is commonly known as the “World Thrift Day” across the globe.
- This day was initiated by the International Savings Bank Congress in the year 1924 to promote savings.
- Through World Savings Day recognition, the organization urges that savings be done as a responsibility both by people and by the country.
- World Savings Day was established to commemorate the establishment of the World Saving Bank Institute (WSBI) in 1924.
- The WSBI or the World Savings Day celebrated its 95th anniversary in 2019.
- Austria follows a tradition called “Sparefroh,” meaning ‘Save Happily,’ which is the official mascot that highlights the essentiality of World Savings Day.
- World Savings Day is a platform to educate people about the different aspects that hinder a country’s economy.
- An educational journal was established on World Savings Day with a circulation of 400,000 copies.
- Many countries promote the importance of World Savings Day through posters, brochures, and pamphlets.
Set 2 – 10 Lines on World Savings Day for School Children
Set 2 is helpful for students of Classes 6, 7 and 8.
- World Thrift day or World Savings Day is globally observed on October 31 annually to promote savings and banks’ utilization.
- The main reason behind World Savings Day was to educate families, children, and thus the whole society to save and spread the importance of saving.
- World Savings Day recognizes the necessity of individual savings and promotes countries’ economies across the globe.
- On this day, the congress gathered approximately 7,000 branches of savings banks and 354 representing delegates from 27 countries.
- On the occasion of World Savings Day, banks and financial institutions try to illustrate the importance of savings in their social space.
- Schools and Colleges hold seminars and talks on savings on small levels to highlight the significance of savings and thrift.
- The WSBI represents savings and thrifts, levels the socially committed retail banks, or their associations from about 90 countries across the globe.
- World Savings Day contributes to the active participation of the member banks of WSBI through local activities and initiatives in the communities.
- The ‘Sparefroh-Journal,’ established in the 1970s, was initiated as an educational magazine for younger adults, highlighting the importance of savings and thrift.
- On this day, the Indian government initiatives like Jan Dhan Yojana and other savings schemes are implemented to encourage citizens about utilizing bank facilities.
Set 3 – 10 Lines on World Savings Day for Higher Class Students
Set 3 is helpful for students of Classes 9, 10, 11, 12 and Competitive Exams.
- World Savings Day is an event initiated to increase the public’s awareness about the importance of savings for both individuals and modern economies.
- The International Savings Bank Congress laid the foundation to start the World Savings Day on October 31, 1924, held at Milano, Italy.
- In India, the World Savings Day is commemorated on October 30 annually instead of 31st. The original date marks the sad demise of former Prime Minister Indira Gandhi.
- World savings day gained popularity, which peaked after the second world war, and the current situation holds more than 80 countries that celebrate International savings day.
- A worldwide celebration of World Savings Day occurs through educational campaigns, lectures, and concepts on saving in many educational institutions.
- The WSBI, commonly known as the World Savings Banks Institute, is a global representative that comprises retail banks, savings, and thrifts.
- The WSBI bonds and corresponds with international financial institutions and represents the interests of its members at a global or international level.
- World Savings Day focuses on balancing the role of retail banks and the part of savings in the overall financial systems across the globe.
- On World Savings Day, local banks take responsible initiatives in communities, serve households, small and medium-sized firms, and remain close to the customer and local authorities.
- World Savings Day celebration takes place through leaflets, press articles, posters, lectures, brochures, songs, radio broadcasts, educational and publicity films, etc.
FAQ’s on 10 Lines on World Savings Day
Question 1.
When is World Savings Day commemorated, and why?
Answer:
World Savings Day is globally observed on October 31, since its inception in 1924. It is initiated to increase the public’s awareness about the importance of savings for both individuals and modern economies.
Question 2.
What is the World Savings Day tradition in Austria?
Answer:
“Sparefroh” is the official mascot of Austria and is an essential element of World Savings Day, which means “Save Happily.”
Question 3.
What initiative is taken to create awareness on World Savings Day?
Answer:
A worldwide celebration of World Savings Day occurs through educational campaigns, lectures, and concepts on saving in many educational institutions.
Question 4.
What does the Indian government do on World Savings Day?
Answer:
On this day, the Indian government initiatives like Jan Dhan Yojana and other savings schemes are implemented to encourage citizens to utilize bank facilities.