Just
like the consumer awareness, the financial awareness has also become very
important and essential in today’s world of liberalized global economy where investors need to be properly
guided about informed choices in the field of financial products and services in
the market. A large chunk of Investors in our country are still not wise enough
to invest their hard saved money into a
valuable instrument yielding a profitable return countering the inflationary
trend of the currency in our economy. It is quite surprising that still many financial
instruments available in the Indian market promise very high returns where innocent
and uneducated investors get entrapped and even lose their principal amount. Our
society has correctly visualized this problem of investors and has started
educating this lot of investors and thus spreading financial literacy among
them so that they should be protected from being exploited from clever market
traders. Even the prime minister has also realized the difficulties of such
investors and has initiated a very popular scheme by the name of Jan-Dhan-Yojna
in which small investors’ money will be parked in banks, who thereafter will invest the same money
in the national economy thereby accelerating the growth of economy as well as
safe guarding the return on investment of poor people. Our society is strong
supporter of this idea and in spreading financial literacy; we are aiming to
recommend this scheme among poor people which will definitely help them in
getting safe and better return on their investment.
Besides
the above, a new generation of middle income group has started investment in
various risky instruments without proper financial planning thereby putting
themselves under great strain during any emergency or mis-happening like break
down of relations, bereavement in the family etc. Moreover, due to unstable
market conditions and fast changing tax structure need for spreading financial
literacy and systematic financial planning has become the need of the time and society for financial literacy and consumer
awareness will play an important role by educating this new and
powerful class of investors by holding seminars and debates. Our society will empower
the investor as it gives them an understanding of how to manage their finances
in the real economy in order to avoid unnecessary risks, excessive debt and
possible financial exclusion. Moreover, it enables people to improve their
understanding about various financial products
and services.