In financial terms, “Primary Deposits” and “Secondary Deposits” refer to different stages in the banking system:

1. Primary Deposits: These are deposits made directly by individuals or entities into a bank. These deposits are considered primary because they represent the initial influx of funds into the banking system from depositors. Primary deposits include savings accounts, current accounts, fixed deposits, and other types of accounts where customers deposit money with the bank.
2. Secondary Deposits: Secondary deposits, also known as secondary reserves, refer to funds that banks deposit with each other or with central banks. These deposits are considered secondary because they are created by the banking system itself as part of managing liquidity and meeting regulatory requirements. Secondary deposits can include interbank deposits or deposits held by banks with central banks to meet reserve requirements or for other operational purposes.

In summary, primary deposits originate from customers depositing money directly with banks, while secondary deposits refer to funds that banks hold with other banks or central banks as part of their overall banking operations and liquidity management.

Drawing from personal experience and observations spanning seven years, it’s evident that the Indian education system needs significant reform to better prepare students for the evolving job market and global challenges. Back when I was in school, teachers often paused to lament the outdated textbooks and the need for more relevant, technology-focused content. Fast forward to today, and my sister, currently in 9th grade, encounters the same unchanged core syllabus.

Need for Regular Updates: The curriculum must undergo annual updates to remove obsolete material and incorporate new knowledge and skills relevant to today’s world. This approach ensures students are equipped with current information and better prepared for modern challenges.

Observations and Concerns: My personal observations highlight a concerning stagnation in curriculum development. The reluctance to update core syllabi risks leaving students ill-prepared for contemporary demands in technology, critical thinking, and digital literacy.

Proposal for Change: Educational policymakers should collaborate with industry experts and educators to identify emerging trends and skills demanded by the job market. By integrating practical knowledge and fostering critical thinking, the education system can empower students to navigate future careers effectively.

Conclusion: By adopting a proactive approach to curriculum reform, India can ensure its education system remains relevant and responsive to global advancements. This proactive stance not only enhances student learning outcomes but also cultivates innovation and competitiveness in an increasingly dynamic world.

One significant factor is the rat race that has developed due to the ever-increasing population, especially in India. With more students vying for limited opportunities, the competition is immense. This intense competition creates a high-pressure environment where academic success becomes paramount.

Moreover, the ever-growing inflation exacerbates this issue. The cost of living and education is continually rising, making it essential for students to excel in their studies to secure well-paying jobs. Failing in academics often means falling behind peers and having access to fewer opportunities, which can lead to significant financial and social disadvantages.

This relentless pressure to succeed academically often leads to immense stress and anxiety among students. The focus shifts from genuine learning and curiosity to merely achieving high grades and outperforming peers. The joy of learning is overshadowed by the fear of failure and the consequences it brings.

Education should be a tool for personal and intellectual growth, not a source of constant stress. It’s crucial to address these systemic issues and create a more supportive and balanced educational environment that fosters true learning and development.

This stems from the substantial growth and financial security associated with STEM careers. While initial salaries in STEM may be comparable to other fields, the long-term benefits, including a significantly higher pay gap and better lifestyle, become evident over a decade.

For Indian families, especially from middle-class backgrounds, STEM careers offer a path to financial stability. In contrast, fields like arts often require monetary support or connections to succeed. Despite being talented, success in creative fields can heavily depend on luck.

Students should balance their passions with pragmatism. Pursuing a STEM career can serve as a secure Plan B while they continue to explore their interests. Following one’s ikigai—finding a way to match personal interests with a secure career option—is essential. This approach isn’t limited to STEM but includes other stable professions like chartered accountancy, law, and the military.

By doing so, students can reduce stress and maintain a sense of security while following their passions. This balanced approach allows for both personal fulfillment and financial stability, ensuring a well-rounded and secure future.