In recent times, there has been a sharp increase in the number of investors in the domestic stock markets. With the aim of protecting these investors from fraud and increasing their understanding about getting better returns, all the mutual fund houses and registered mutual fund distributor companies including the capital market regulator SEBI are running awareness programs.
In these programs, investors are made aware of investments, so that they can get maximum returns on their investments. In this direction, Patna-based mutual fund distributor company SIDA Services, registered with the Association of Mutual Funds in India (AMFI), has started an Investor Learning Center to promote financial literacy and investor education.
This is how you will get the mantra of profit
This center was inaugurated by Nimesh Shah, Managing Director and CEO of ICICI Prudential Mutual Fund. Along with this, SIDA Services has also launched the pilot of its financial literacy initiative ‘Paisa Ki Pathshala’. Its objective is to explain important aspects related to personal finance, long-term investments and family financial planning to investors in an easy, systematic and conversational manner. Learning sessions will be organized in small groups of 15 to 20 people at the SIDA Services Centre. These sessions will be in the style of conversation and discussion instead of giving lectures like in a classroom. In these, topics like will and estate planning, inflation, systematic investment, discipline in taking loans, retirement planning and family financial decisions will be discussed.
Only 27 percent people are financially literate
According to the National Center for Financial Education, only 27 percent of people in India are financially literate. On the other hand, the increasing share of people investing in mutual funds is now being seen outside the big cities of the country. Currently, 54 percent of active SIP accounts come from B-30 cities. Sanjeev Dayal, founder of SIDA Services, says that investor education should reach where people live and take their financial decisions. Through Paisa Ki Pathshala program, people will be able to understand financial things and take their decisions more intelligently.
Sessions will be based on stages of life
In this learning centre, sessions will be prepared keeping in mind different stages of people’s life instead of age. For the youth, there will be topics like regular investment in SIP, budgeting and debt-related behaviour. For working people and families, there will be discussions on inflation, goal-based planning, financial security and family financial planning. For older investors, topics like preparing retirement fund, regular income planning and wealth planning will be included.
