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260 SAVINGS AND INVESTMENT PLANNING FOR SLUM WOMEN

posted Mar 22, 2018, 9:17 AM by Don Bosco Development Society   [ updated Mar 22, 2018, 9:18 AM ]
Mumbai, 20-March-2018: The Don Bosco Development Society (DBDS), Mumbai organized an interactive session on the topic of ‘Savings, investments and Financial Planning’ The workshop was attended by women from low income group residing in the slums of Ashok Nagar (Kurla). Around 45 women participated in this workshop which was organized under the aegis of ‘MGL Disha Project’ supported by Mahanagar Gas Ltd.

Mrs. Surekha Pednekar (Project officer - DBDS) welcomed Mr. Mahesh Kumar (Senior Project Manager – DBDS) who was the resource person for the programme. The workshop covered following topics:

1) Thumb rules on savings and investment, Ponzy Schemes

2) Time value of Money, interest rates, Compounding, Discounting

3) Investing in Small saving schemes to meet Financial Goals

4) Life insurance, risk cover, health insurance and investment in insurance products 

First session was on effect of inflation on the savings and investments. This was followed by a session on Ponzy schemes which gave them information on dubious schemes which are scams. The session on small saving schemes gave them the knowledge of the various saving schemes run by post offices and how saving in these schemes can create wealth for them.

The session on insurance gave them knowledge of the health insurance schemes and difference between risk coverage and investment in insurance. The workshop ended on a positive note as participants were motivated to start investing in small savings to meet their financial goals. The Vote of Thanks was proposed by Ms. Zarina Khan (Staff – DBDS).