Hedge School on mis­sion mode to spread fi­nan­cial lit­er­acy in Ker­ala

‘Gate­way to Fi­nan­cial Free­dom’ pro­gramme aims to change peo­ple’s in­vest­ment habits

The Hindu Business Line - - MARKET WATCH - V SAJEEV KU­MAR

Ker­ala can boast of the top spot in lit­er­acy. But when it comes to fi­nan­cial lit­er­acy, the State is at a lower rung. Ac­cord­ing to sta­tis­tics, the ma­jor­ity of the peo­ple are fi­nan­cially il­lit­er­ate and rely mostly on tra­di­tional in­vest­ments.

It is in this back­ground that Hedge School of Ap­plied Eco­nom­ics has taken up a knowl­edge ini­tia­tive to spread the concept of fi­nan­cial lit­er­acy from gov­ern­ment of­fices to cor­po­rate houses through its “Gate­way to Fi­nan­cial Free­dom” (GTFF) pro­gramme.

“The ob­jec­tive is to spear­head a revo­lu­tion to change the in­vest­ment habits of peo­ple and tell them that wealth cre­ation is within their reach,” says Alex K Babu, Man­ag­ing Di­rec­tor, Hedge Group.

Though the ma­jor­ity of the peo­ple in Ker­ala earn size­able in­comes, their ex­penses seem to have sky­rock­eted due to life­style changes. With mas­sive amounts spent on EMIs, shop­ping, health­care, etc., there is a feel­ing among peo­ple that wealth-cre­ation is a but a dream, he said.

The re­sponse to GTTF, Babu said, has been en­cour­ag­ing.“Since Au­gust 15, we have been able to con­duct over 200 pro­grammes, reach­ing over 4,500 peo­ple. The plan is to carry out 500 events be­fore 2018. Through this, peo­ple are made aware of the var­i­ous fi­nan­cial prod­ucts they can in­vest in by cal­cu­lat­ing the risk-re­turn trade­off for each.

Gung ho re­sponse

“We started this as a CSR ex­er­cise, but at the end of each ses­sion we cir­cu­late a feed­back form ask­ing if they needed help in fi­nan­cial plan­ning. In­ter­est­ingly, more than 60 per cent re­sponded pos­i­tively. We are see­ing more than a 200 per cent jump in cus­tomer ac­qui­si­tion and our as­sets un­der ad­vi­sory have al­ready grown by 100 per cent to ₹750 crore,” he said.

GTFF aims to spread the ben­e­fits of fi­nan­cial lit­er­acy by help­ing peo­ple to man­age their money and at the same time im­prov­ing their chances to re­alise all their fi­nan­cial goals. Through this fi­nan­cial Alex K Babu, MD, Hedge Group

lit­er­acy ini­tia­tive, Hedge School is spread­ing the mes­sage that no mat­ter how small the amount of in­come, in­vest­ments can be done and wealth can be created.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.