India, Nov. 2 -- In the first International Savings Bank Congress (World Society of Savings Banks) held on October 31, 1924 in Milano of Italy, Prof Fitippo Ravizza declared the day as the World Savings Day to celebrate the people who made savings as their hobby and habit.
The idea behind the declaration is to inform the people all around the world about the idea of saving their hard earned money in a bank rather than keep piling under the mattress with no additional benefit.
The concept of 'money earns money' was popularized which provides the individual extra income along with a standard life without any physical effort and a secured economy to live. Money plays a dominant role in today's society and the well being of a person is judged...