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India's street children bank on the future
- deleted 14y ago[deleted]
- praxulus 14y agoInflation in India is north of 7% so that kind of savings rate isn't great. It's worse than the 0% savings/1.7% inflation we have in the U.S.
- inexplicable 14y agoWhile this is true... the significant factor here is that these children are saving. If there were no saving, the money would have been spent/stolen/taken almost for certain. I can understand the feeling of the boy who saved ₹4000 in 7 months. Given the living standards and challenges these children face, it would have impossible to have even a quarter of that left over in 7 months. Edit: added the rupee symbol
- praxulus 14y agoI'm definitely not saying they shouldn't be saving. The (now deleted) comment I replied to was awed by the high savings rate the kids were getting, 5%. I was just putting it in perspective.
- RyanIyengar 14y agoYeah these kids should shop around some, maybe try an Indian Credit Union.
- mehulkar 14y agoBond market?
- plnewman 14y ago"I ran away from home at the age of 11 after my father beat me for stealing a kitchen appliance," said Samir who works in a sweatshop. [snip] "I have saved 4,000 rupees (70 US$) in the last seven months. It's a good feeling to have some money. I will buy a shirt and a watch for my father and send it to him to seek his apology." "He might forgive me and ask me to be with him at home." For me it is heartbreaking that this child was beaten and still feels that he owes his abuser an apology. (edit: formatting)
- kumarm 14y agoPhysical Discipline by parents is not considered out of ordinary in India. To anyone who grew up in India, you calling a dad abuser is more offensive.
- FraaJad 14y agoYes, I would have rather reported him to the police for stealing and put him in a juvie where he could master the art of thieving. <- this is the western solution isn't it? Abuser? my foot! Western society is good transferring responsibility to the society at large.
- praxulus 14y agoIf you're a a bad parent, particularly in a poor inner city family, that's the western solution. If you're a good parent the solution is to teach your kids moral lessons without using violence.
- delluminatus 14y agoBeatings are not a good way to raise a child. However, it's not really abuse -- or it might not have been by the standards of U.S. law and I can almost guarantee it wasn't by the standards of local culture. Also, he did steal an appliance. It's not like his father was just beating on him.
- naughtysriram 14y agoYes, the point is that, he now realizes how difficult it is to earn a living and keep a good name and how it will feel if some one steals something. Probably his father will bring him back home.
- tomjen3 14y agoReally, really impressive (or, depending on how you look at it, embarrasing) but that savings rate is way above what most westerners save.
- cnu 14y agoInterest rates for Fixed deposits are around 8-9% for a year in some Indian banks. There were times when it was more than 10% too.
- naughtysriram 14y agoIt is well stated how to treat people in the Chanakya's Arthashastra. Well this was meant for how kings should treat other kings but its universal and trickles down to every indian citizen. Sanmaana - Give proper remuneration Daana - Offer a gift Bhetha - Separate them from others Upekshana - Dont consider them for some time Maya - Use the tool of Illusion Indrajaala - Show that you are powerful, i.e make them fear Danda - Use force These seven tactics have now become 4 in course of time, sanmaana,daana,beth,danda