CNBC-TV18's new offering Financial Quotient is a women and money series. ZebPay and Aditya Birla Sunlife Mutual Fund will be partnering in this unique initiative.
On this women and money series, A Balasubramanian, MD & CEO of Aditya Birla Sun Life AMC, said, "When we were doing an analysis as to the behaviour of women in terms of financial market investment, and then survey also suggested that 53 percent of the women lack in financial literacy. They are not aware about how to manage their money, how to save for the future, how to save for their kids, and about 30 percent of the people had expressed loss of confidence or low confidence levels, and fear of losing money. About 25 percent of the people are pretty neutral. On the basis of those analysis we felt, women play a very important role in the financial saving of every family, whether it is caring for the savings of the family, and then protecting it, and then also saving money for the future of their children and even for the retirement.”
"We felt that women play very important role in every decision making in the household and they remain illiterate on the financial market, then naturally, it is best that we work on that and create the awareness about the financial market among them."
Talking about his vision of their new initiative, Balasubramanian said, "The agenda is 20 million women we need to reach that is broad set agenda that we have. In order to make that work clearly, we have a plan; a series of events that we have planned. One, we have an outreach programme on our own and in time with some of these NGOs, or some of these institutions who are specialised in engaging with the woman as an investor, or maybe an influential. We will also work with some of our distribution partners, who also deal with various family offices or various families across the country and take this awareness about the investments on mutual funds and capital markets in general, to those segment of the better part of the every household."
For full interview, watch accompanying video.