World Investor Week Organized across 6 continents
World Investor Week (WIW) held between 2nd to 8th October each year is a week-long, global campaign promoted by IOSCO to raise awareness about the importance of investor education and protection and highlight the various initiatives of securities regulators in these two critical areas. In October, IOSCO securities regulators and other IOSCO members on six continents will provide a range of activities, such as launching investor-focused communications and services, promoting contests to increase awareness of investor education initiatives, organizing workshops and conferences, and conducting local/national campaigns in their own jurisdictions.
CASI a leading service provider conducting Investor Awareness Programs for Leading Stock Exchanges, Market Intermediaries and Asset management Companies in India trained over ten thousand participants in basics of financial literacy during this period. Of this 10,000 participants over 5000 were women. CASI trainers conducted seminars, quiz competitions Nukad Natak (skits / street plays) & essay / drawing competitions as a part of their strategy. The focus this year was teaching and non-teaching staff at colleges and universities. “We believe teachers are the catalyst, we have an internal target of reaching over 1 million teaching and non-teaching staff and we believe this will go a long way in ensuring financial literacy leading to retirement planning not only amongst the target groups but also their students.” Commented Prof. Paresh Sheth and Dr. Mitez Sheth the brothers who run CASI. Details on www.casiforliteracy.com.
Incidentally a book on Financial Literacy authored by the brothers has been on the Amazon best sellers list, was launched last year by Mr. G. P. Garg the Executive Director SEBI, Miss Latika Kundu Managing Director MSE, Paresh Sheth CEO CASI New York and Mitez Sheth Director CASI New York, Mahesh Desai Chairman WIRC Association of National Exchange Members of India, Lalit Mundra Chairman Bombay Stock Exchange Brokers Forum and Jay Prakash Gupta Founder Moneylicious Securities.
Financial Literacy Investor awareness is one of the pillars of economic development of a country and enables the citizens to prepare for their retirement better. This serves the dual purpose of investing right and there by ensuring better returns with reduced Risks and secondly reduced the strain on the governments to provide for retirements and other related expenses.
Asian Development Bank states, India has made great progress in improving financial inclusion by making loans and other financial services available to low-income borrowers, through support from the Government of India, microfinance institutions (MFIs), and NGOs. In 2014 the government launched Pradhan Mantri Jan-Dhan Yojana, a program aimed at providing a bank account for every household. The program generated a record 443 million accounts for India’s households since its August 2014 launch through to early January 2022.
However, closing the banking gap also requires at least a basic understanding of how the financial system works. Only 27% of Indian adults – and 24% of women – meet the minimum level of financial literacy as defined by the Reserve Bank of India.
Women are particularly responsive to financial literacy outreach. Traditionally they manage the household budget and are often eager to start home-based businesses. When armed with foundational knowledge, financial literacy tools, and small-scale business opportunities, women entrepreneurs can make a remarkable impact on their families and communities.