‘World Savings Day: 31 October’ | Short Essay on ‘World Savings Day’ (125 Words) | World Thrift Day (31 October) – UPSC Notes

World Savings Day: 31 October

‘World Savings Day ‘ is celebrated on 31st October every year. This day was established on October 31, 1924, during the 1st International Savings Bank Congress in Italy. The Italian Professor Filippo Ravizza declared this day the ‘International Saving Day on the last day of the congress.

World Savings Day is a day devoted to the promotion of savings all over the World. This day was established to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattresses.

Savings banks play an important role in enhancing savings in developing countries. On this day, savings banks work with the support of the schools, and the clergy, as well as cultural, sports, professional, and women’s associations. 

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