Sanchayika Day is observed every year on 15th of September since 1970. It is celebrated amongst students in order to raise awareness regarding saving habits at a very early age. This word is used by the students who run this account for their savings. The purpose is to make student learn about bank, banking facilities, encourage them for saving as well as develop their management skills. To take this facility they need to open a bank account or post office account. Till now around 29 thousand students of college and schools has taken the facility of Sanchayika Scheme. It comes under the national savings. Students of class 8th till 12th are its depositors. One major concept behind running this scheme is to make the students learn basics about how to run a small set up.