Business Daily from THE HINDU group of publications
Monday, Oct 30, 2006
ePaper
Business Daily from THE HINDU group of publications Monday, Oct 30, 2006 ePaper |
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Mentor
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Investor Protection Columns - Sticklish Issues Financial literacy
With a growing economy and soaring salaries, there has been a spurt in the economic activity of the people, especially the middle-income group, investing in mutual funds, share-trading, borrowing loans for homes, vehicles, and so on. The media is flooded with attractive advertisements by banks and non-banking financial institutions offering high returns for the investments, with the usual `conditions apply' tag attached. In this scenario, the investing public or those who are in need of loans have a hard time choosing the various options available to them. In such a situation, `financial literacy' plays an important role in helping them take an informed decision. The MF companies, banks and other large dealers of consumer durable goods could conduct melas to educate the public on the various financial products and loan facilities which will be more suitable and beneficial to them. The financial marts opened by the postal department in the cities and towns are providing an excellent service to the investing public. Similarly, as per the SEBI initiative, National Securities Depository Limited (NSDL) is conducting investor-depository meets in important centres. The share-trading companies could organise events and put up stalls in exhibitions so that the public can understand the basics of investing in shares. S. Nallasivan, Tirunelveli Financial literacy does not necessarily mean getting MBAs and PhDs in finance and related subjects. It refers to the art and knowledge of handling one's finances. The thrift rate in India is rather high. However, in these materialistic times and "we live for today" attitude, the saving habit is eroding. With families going nuclear and the absence of social security for the elderly, the saving habit needs to be re-emphasised. S. Krithivasan, e-mail With more and more financial products coming up, financial literacy is becoming a necessity. In this context, helping to manage one's household budget and affairs in the best manner, could be of great use. It is essential to choose what is best for one without depending on middlemen. This could start from the classroom. At present, financial papers and magazines are growing circulation. The media can play a vital role in educating its readers. A. Jacob Sahayam, Thiruvanthapuram Responses to Sticklish Issues dated October 16 Capital punishment is relevant in the context of Mohammed Afzal. The argument goes that despite capital punishment, rape and other sex related crimes, murder for gain and terrorism are on rise and, therefore, a review should be made on its effectiveness. If death sentence is not awarded to the guilty and they are instead sent to jail, they become a burden to society. S. Nallasivan, Tirunelveli
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