CURRENT AFFAIRS

Detailed explanation-1: -The day gained prominence only after the Second World War when people evolved and started taking good care of their resources. Today, World Thrift Day has taken on a more significant role with commercial participation across the globe. The theme for World Thrift Day 2021 was ‘Understanding the importance of savings’.

Detailed explanation-2: -World Thrift Day 2022: Theme This year, the theme of World Thrift Day is “Saving prepares you for the future”, closely linked with last year’s theme that focused on the importance of savings. The day is often observed by conducting informative campaigns and releasing schemes that promote savings.

Detailed explanation-3: -World Thrift Day is celebrated every year on 31st October worldwide to promote savings and financial security of individual and nation as a whole. World thrift 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 mattress or at home.

Detailed explanation-4: -On this day, people partake in various activities, such as thrifting, reusing items, and putting their savings safely into the bank.

Detailed explanation-5: -An Italian professor named Filippo Ravizza declared the last day of the 1st International Savings Bank Congress as “International Saving Day.” The event was held in Milan, Italy in 1924. The idea was to have a way to inform people it was better to put their money in a bank rather than underneath their mattress.