ACTIVITY 1
The demonetization of Rs.500/- and Rs.1000/- banknotes is a policy enacted by the Government of India on 8 November 2016. All Rs.500/- and Rs.1000/- banknotes of the Mahatma Gandhi Series ceased to be legal tender in India from 9 November 2016.
The move was described as an effort to reduce corruption, the use of drugs, and smuggling. However, in the days following the demonetization, banks and ATMs across the country faced severe cash shortages and the rush to exchange cash.
BBA (FS) Department of VVM’s Shree Damodar College of Commerce & Economics observed that there was a huge rush at the banks and the Bank employees had a tough time completing the work. So the Department took an initiative to send the students of BBA (FS) as volunteers to help the Banks for assisting the customer for filling forms, deposit & withdrawal slips etc.
Students of First Year and Second year BBA (FS) volunteered at the Margao, Ponda, Curtorim, VVM-Comba branch of Central Bank of India.
This initiative proved to be great help to the employees of the Bank and also a good learning experience for the students.
ACTIVITY 2: OPENING OF ACCOUNTS
BBA (FS) department had sent students as volunteers in the month of November to Central Bank of India branches to help the bank employees during the tough period of Demonetization.
Central Bank of India appreciated the work of the students and rewarded them for the same. The bank later approached the BBA (FS) department and requested to provide students for opening of 1000 saving bank accounts of employees in companies at the Verna Industrial Estate. Students of First Year and Third year BBA (FS) volunteered at the Verna branch of Central Bank of India.
This initiative proved to be great help to the employees of the Bank and also a good learning experience for the students.
