Investment Awareness Programme conducted for Conservancy staff of Pune Municipal Corporation.
Following my passion for spreading Financial Literacy among the lower income group workers, I thoroughly enjoyed interacting with the PMC staff about their financial aspirations.
This session was a part of ‘Saaathi Haath Badhana’ workshop for the Conservancy staff . The intent of the workshop was to instill a sense of pride in their work among the workers and was amply supported by the local residents and the Pune Municipal Corporation. As a part of well being they were introduced to some concepts about money and health which they can use in their daily lives to make it better.
The money session touched upon the importance of savings and investing. How this habit can help them avoid borrowing from people and money lenders and keep them safe from getting into a debt trap. A good saving and investment habit can also develop their self respect. Basic concept like safe banking and using investment products like recurring deposits was introduced. Mutual fund as a product for retirement planning was also introduced. The session also touched upon the lure of ‘get rich quick schemes’ and ways to avoid them.
It was painful to observe that many of the participants had lost money to fraudulent local banks. I emphasized the concept of safe banking through the banks where they receive their salaries from the government, will help them keep their money safe.
Recurring deposit as a tool to save money for regular uses like children’s school fee or festivals was a unique concept to many. It was very well received.
The session was conducted in collaboration with Network FP Financial Wellbeing Camps and IDFC Mutual Fund on 30th April 2016.