Monday, December 12, 2016

BIS #5008 FINANCIAL LITERACY PROGRAMME

by BIS Correspondent

 

AHMEDNAGAR, DEC 12, 2016: Forty two staff members from Bosco Gramin Vikas Kendra (BGVK) and self help groups - from Beed and Nagar Taluka - attended a special workshop focused on financial literacy planning in Ahmednagar on December 8.

 

Mahesh Kumar, from the Don Bosco Development Society (DBDS), was the resource person for the seminar and he explained to the participants the value of financial literacy planning in their day- to-day life.

 

Urmilla Kumari, the Branch Manager, Bank of Maharashtra gave a short talk to the participants on benefits of savings and cashless transactions. Financial Planning Literacy is an initiative by DBDS and BGVK to work with people at the bottom of pyramid to impart knowledge on planning financial goals and investments in right instruments according to their risk taking capacity.

 

The organisation believes that in the present economic environment in which inflation is eating into the saving and investment returns, it is very important that people be sensitised and informed. Saving and investing money in the right place according to the need and goal of the person is the key to happiness.

 

The seminar focused on the thumb rules of saving and investment, RBI and Banking, Ponzi Schemes, Time value of Money, interest rates, Compounding, Discounting.

 

Investing in Small saving schemes to meet financial goals was also stressed upon. Participants were also informed about life insurance and investment options available in today's financial landscape.

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