by BIS Correspondent
PUNE, JAN 29, 2017: In keeping with its Financial Planning Literacy initiatives, the Don Bosco Development Society (DBDS) conducted a workshop on savings and investment for the low-income groups entitled Jan-Dhan–Nivesh in Chinchwad on January 21.
The workshop focused on educating people about several investment opportunities that could help them get exponential returns.
Forty- one leaders of the Self-Help Groups (SHGs) and the staff of Don Bosco, Chinchwad attended the workshop. Mahesh Kumar, a senior programme manager of DBDS was the resource person.
The workshop demonstrated how small disciplined savings every month could turn into a big return using the power of compounding. It was stressed that in a world where inflation is eating away the purchasing power of money, investments were necessary to get better returns.
Kumar stressed that Public Provident Fund was an excellent scheme for long term goals. He made the audience aware of Sukanya Samruddhi Yojana, a scheme for girls up to 10-years-old to fund their higher education and marriage.
The workshop covered issues like the thumb rules on saving and investment, RBI and Banking, Ponzi Schemes, Time value of Money, interest rates, Compounding and Discounting.