The BBA(Financial Services) Department jointly with Parivartan Learning Solutions, Mumbai organised a webinar on the topic “Financial Literacy under SEBI Initiative – To handle your major personal finance issues capably” for BBA(FS) students on 06th March 2021 from 09:00 to 10:00 a.m.. The session aimed to create awareness and educate the students on access to financial services, availability of various types of financial products and their features, and to develop the necessary skills and knowledge to become financially literate.
The Resource Person for the session was Mr. Veerdhaval Talpade, Vice President – Training & Development, Parivartan Learning Solutions, Mumbai.
At the outset, Assistant Professor Ms. Lizia V. Gomes welcomed the Guest Speaker followed by his introduction by Mr. Shawn Menezes from TYBBA(FS) – A.
The webinar covered the following topics:
- Common money handling mistakes
- Right budgeting – Income v/s Expenditure
- What is Risk? – An eye-opener
- Goal-based financial planning (savings and investments)
- Wealth creation methods
Mr. Talpade started the session with a brief introduction of financial literacy. Financial literacy refers to an individual’s ability to manage his/her money. The goal of financial literacy is to help in understanding financial concepts that will help people to manage their money better; it includes budgeting, investing, insurance, loans and interest.
The session also laid emphasis on the following:
- What’s wrong with just saving?
- What does inflation do to your expenses?
- What are you investing for?
- What is Asset Allocation?
- What is a mutual fund and how does it work?
- What are the various options available for investing in mutual funds?
- Why invest in mutual funds?
- Steps for investing in mutual funds
- 3 Guru Mantras for managing your money
- How to make your investments work for you
- Modes of investing
- Challenges faced while investing
- Scheme related documents & factsheets
- Direct plans & regular plans
- Advantages of SIP
- Benefits of starting early
- 4 benefits of doing e-KYC
- Complaints redressal mechanism
Mr. Talpade concluded the session by stating that financial literacy is important because it equips one with the knowledge and skill to manage money effectively.
92 students attended the session, which ended at 10:00 a.m. with a Vote of Thanks delivered by Mr. Kirsten DaCosta from FYBBA(FS)-A. The session was compered by Ms. Sanchia DaCosta from FYBBA(FS)-B and coordinated by Ms. Lizia V. Gomes, Assistant Professor in Commerce.
