The World Savings Day was instituted by the first International Savings Bank Congress on October 31st, 1924. The day is dedicated to promote Savings among People.
The word ‘Saving’ comes from the Greek word, Salvare, meaning ‘to make safe or secure.’
In Samskrt, Savings is denoted by the word ‘Mitavyaya’. Mita means ‘little’ and Vyaya means expenditure. In other words, Mitavyaya, Savings means to ‘limit our expenditure’.
Gold, the Barometre
The timeless method of Savings in the Indian, Egyptian, Roman, Greek and Mayan civilizations was in the form of gold. It is the barometer of value from time immemorial, across civilizations
Strength of a civilization comes from its Savings
The strength of an economy not only comes from its production and consumption, but also from Savings. One of the features of a good economy is the Savings Potential of the people.
Savings inherent to India
India as a society knew the value of thrift. The ethos of India has always been towards Savings. Indian economy has been prosperous through the ages since people as a practice, saved water, grains, cattle, gold and knowledge.
In India, this reality of Savings has been lot more with the women folk.
Dutch and Scot
In Europe, among the different nationalities, the Dutch and Scots are looked up to as being thrifty.
In the days of yore, there were as we know there were no banks. People saved gold, by safeguarding it in some nook or corner in their house and in the earth, in their garden. Since the earth is known as Vasundhara, this secret place of Savings have also been jocularly referred to as Vasundhara Bank.
In the current modern era of plastic money and credit cards, people are swiping, spending and are deep in debt and consequently low in Savings.
People Swipe, Spend and are in Debt
Whereas, in Indian ethos, Savings has helped this civilization rejuvenate itself, wave after wave of plunder. This habit of Savings has been one of the key factors for its rejuvenation after each wave of plunder.
Savings for our Children and Grandchildren
On this Savings Day, let us recognize this and do little Savings for ourselves and for our generations to come. The way our father and forefathers saved not only the monetary items but also natural resources for our benefit, we need to save all this for our dear children and our dearer grandchildren.