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A STUDY OF THE INVESTMENT PATTERN AMONG EMPLOYED WOMEN
A STUDY OF THE INVESTMENT PATTERN AMONG EMPLOYED WOMEN WITH

SPECIAL REFERENCE TO PATHANAMTHITTA
CHAPTER -1
INTRODUCTION
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The study of the evolution and growth of human development has indicated the
important and equal role played by women. The study of any civilization is incomplete
without a study of the role and position of women in that civilization. During the Rigvedic
period, women enjoyed an equal status as that of men. Women were highly honoured and
occupied respectable statuses in society. In the post-Vedic period, there was a decline in the
status enjoyed by women in India. Several restrictions were imposed on the freedom and
movement of women.
The status of women further deteriorated between 11 th century and 18 th Century.

Women became more dependent on men due to the advent of the Mughul rule. Men had a
dominating influence in all aspects of a woman‟s life. During this period ruled by the British
for nearly 200 years the situation of women remained the same as during the medieval period.
India got independence from British rule in 1947 and after that the Indian Government
undertook various measures to ensure and enhance the status and progress of women in India.
The Indian Constitution recognized equality of gender to be a fundamental right. As a result,
the position and status of women in India changed to a very great extent.
Modern India offers better opportunities of education, employment, freedom of

decision-making and choice to women. Women are found to excel in all the areas of life
including education, industry, communication, politics, health and defence. Skewed sex ratio,
migration and environmental degradation are also factors that have made women more
vulnerable in Indian society.
Women occupy a pivotal position and play an important role in the family which
constitutes the basic unit of any society for social and national integration force. If women are
not adequately supported and protected, their families will suffer which will adversely affect
the society as a whole. Both men and women are needed for the upbringing of children and
taking care of the needs of all the members of a family. The roles and responsibilities of men
and women are complimentary to each other.
Money means power and it is true in the case of women also. Society
has realized the importance of education of women and their contribution to the process of
development. The earning potential of women in today‟s world has increased to a great extent
due to their education and high commitment levels. Due to the increase in earnings, ability to
save has also increased.
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1.1 NEED AND SIGNIFICANCE OF THE STUDY
Education is a major tool to empower women and bring about the desired changes in
the outlook and attitude of the people. This also increases their opportunities in employment,
development of skills which in turn make them independent and confident to take decisions
involving their lives. Society has realized the importance of education of women and their
contribution to the process of development.
When women become empowered financially, their access to financial resources

increases. Money means power and it is true in the case of women also. The earning
potential of women in today‟s world has increased to a great extent due to their education and
high commitment levels. Due to the increase in earnings, ability to save has also increased.
However, savings have to be invested properly to attain the financial goals. Simply, keeping
savings in the form of cash or in savings account in banks may not give good returns on such
savings. Hence, savings have to be invested in an appropriate manner in various investment
avenues so as to maximize wealth while minimizing the overall risk. A variety of investment
avenues are available to an individual investor. An investor can choose to invest in one or
more of the available investment options based on her preferences in terms of investment
goals, returns, risk, liquidity, tax benefits and other such factors. Each investment avenue has
different characteristics offering different benefits to the investors. An investment avenue
which is suitable to one investor may not be suitable to another investor. As the investment
avenues have different pros and cons, it is necessary for an investor to have an indepth
understanding of the different investment options. This will enable an investor to design an
appropriate portfolio according to one‟s requirements and preferences.
At this scenario in order to know more about investment portfolios of educated

women and its risks and returns; the investigator decided to conduct a study in the
Pathanamthitta district.
This study is an attempt to analyze the investment pattern of educated women with special
reference to Pathanamthitta District. Through this study the investigator can get a clear
picture about, pattern of investment, awareness of investment avenues and risk bearing
capacity of educated women. It also gives an indepth understanding of how the educated
women make investment in different investment portfolios. Certainly this study will also help
to find out, whether any relationship between demographic factors and investment decisions
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made by educated women. All the above mentioned facts motivated the investigator to carry
on a study on similar line.
1.2 STATEMENT OF THE PROBLEM
In the present study the investigator is trying to find out the investment pattern among
employed women and its awareness, risk and return. Hence the study is entitled as “A
STUDY OF THE INVESTMENT PATTERN AMONG EMPLOYED WOMEN WITH
SPECIAL REFERENCE TO PATHANAMTHITTA DISTRICT“
1.3 DEFINITIONS OF THE KEY TERMS
 Investment:- An investment is an asset or item acquired with the goal of

generating income or appreciation. In an economic sense, an investment is the
purchase of goods that are not consumed today but are used in the future to create
wealth. In the present study the investigator trying to understand the concept and
investment pattern among educated women.
 Savings:- Savings refers to the amount left over after an individual's consumer
expenditure is subtracted from the amount of disposable income earned in a given
period of time. In the present study savings means the excess money of employed
women after their expenditure.
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1.4 OBJECTIVES OF THE STUDY
The objectives of the present study are:-
1. To study the awareness level of educated working women regarding various

investment avenues.
2. To analyze the investment pattern followed by educated working women with

special reference to Pathanamthitta District.
3. To evaluate the risk-bearing capacity of the working women while making

investment decisions.
4. To examine the influence of male family members of educated working women in

making investment decisions.
5. To analyse the relationship between demographic factors (age, income, marital

status) and investment decisions made by educated working women
6. To find out the scope of new investment pattern in educated women.
1.5 HYPOTHESIS
H0 : There is no significant relationship between investment pattern and age of the
respondent.
H1 : There is a significant relationship between investment pattern and age of the

respondent
1.6 RESEARCH METHODOLOGY
Research methodology is the way process used to collect information and data for the
purpose of making business decisions. It is often necessary to include a consideration of the
concept and theories which underlie the methods. The present study is descriptive and
analytical in nature.
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1.6.1 RESEARCH DESIGN
“A research design is the arrangement of conditions for collection and analysis of data in a
manner that aims to combine relevance to the research purpose with economy in procedure”
the research design followed to A Study Of The Investment Pattern Among Employed
Women With Special Reference To Pathanamthitta is descriptive and analytical research
design. The researcher has a description about women empowerment and different
investment portfolio. Hence, it is descriptive. Moreover the researcher has made an analysis
of investment pattern of educated women So it is analytical also.
1.6.2 SAMPLE DESIGN
POPULATION
A research population is a well-defined collection of individuals or objects known to
have similar characteristics. All individuals or objects within a certain population
usually have a common, binding characteristic or trait. In the present study the
population was staffs of different banks, colleges and government offices in
Pathanamthitta district.
SAMPLINGTECHNIQUE
Sampling is concerned with choosing a subset of individuals from a statistical
population to estimate characteristics of a whole population. In this study convenient
sampling method is used for selecting samples.
SAMPLESIZE
The sample size of a statistical sample is the number of observations that constitute it.
An optimum sample is one which fulfills the requirements of efficiency,
representatives, reliability and flexibility. In the present study a total sample of 50
staffs of different banks, colleges and government offices in Pathanamthitta district.
SAMPLEUNIT
Single most unit of the population it is the single person from whom questionnaires
Will be filled up to fulfill the target. The sampling unit in this study is any staff of
different banks, colleges and government offices in Pathanamthitta district.
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1.6.3 TYPES OF DATA
For the study, the data were compiled from both primary and secondary data.
PRIMARYDATA:
The data collected directly by the investigators are called primary data. They are
original and first hand information. Primary data are collected through:
Questionnaire
Discussion
Facetofaceinterview
SECONDARYDATA:
The data collected directly by the investigators from the data already collected by
others for some other purpose are called secondary data. They were collected through:
Articles
Magazines
Newspapers
Internet
1.6.4 INTERPRETAION OF DATA AND STASTICAL TOOLS USED

FOR ANALYSIS
Through the data analysis and interpretation, the researcher has analyzed the data
collected from the respondents. The main analysis and interpretation of the data is in
accordance with specific objectives. The data is presented in the form of table and figures.
Analysis and interpretation involves finding out new facts and results. Editing of data,
classification of data, coding and tabulation of data precede the process of interpretation of
data. The researcher has analyzed and interpreted the data in terms of the objectives
mentioned in research methodology
This chapter presents the core of the study. In this study data collected through
Questionnaire are presented. The data is analyzed and interpreted in order to provide
meaningful results and information. A Percentage analysis and Ratio analysis were used for
data analysis.
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1.6.4.1 PERCENTAGE ANALYSIS
Percentage refers the special kind of ratio. Percentage used in making comparison
between two or more series of data. Percentage analysis is the method to represent raw
streams of data as a percentage for better understanding of collected data. Percentage analysis
is used to find out the percentage of respondents from the total number of respondents,
responded to each questions. Formula used for analysis is
Percentage = (Number of respondents/Total number of respondents)* 100 .
1.6.4.2 CHI-SQUARE
A chi-squared test, also written as χ2 test, is any statistical hypothesis test wherein the
sampling distribution of the test statistic is a chi-squared distribution when the null
hypothesis is true. Chi-squared tests are often constructed from a sum of squared errors, or
through the sample variance. Test statistics that follow a chi-squared distribution arise from
an assumption of independent normally distributed data, which is valid in many cases due to
the central limit theorem. A chi-squared test can be used to attempt rejection of the null
hypothesis that the data are independent.
χ2 is calculated as follows
− 2
χ2 =
O = Observed frequency
E= Expected frequency
1.6.5. DURATION OF THE STUDY
Generally researcher wants to collect all required data, particulars and information for
the research. The project was a detailed study on the topic “A STUDY OF THE
INVESTMENT PATTERN AMONG EMPLOYED WOMEN WITH SPECIAL
REFERENCE TO PATHANAMTHITTA” was successfully completed within the time
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period of three months from, 15th march 2019 to June 2019, with the guidance and support
from the project guide
1.7 SCOPE OF THE STUDY
The scope of the study is limited only to Pathanamthitta district. The purpose
of the study is to investment pattern followed by educated working women with special
reference to Pathanamthitta District. The scope of the study is to understand the awareness
level of educated working women regarding various investment avenues. It also studies about
relationship between demographic factors (age, income, marital status) and investment
decisions made by educated working women. The study gives a more clear picture about the
Concept of Investment pattern of educated working women and to evaluate the risk-bearing
capacity of the working women while making investment decisions.
1.8 LIMITATIONS OF THE STUDY
Due to logistical difficulties, scope of the research is limited to Pathanamthitta
district and its semi urban region.
It isalso limitedtothestudyofthe investment patternofeducatedworkingwomen
only.
Workingwomenwhoareat leastgraduateshavebeenconsideredforthepurposeof
this research.
Due to limitation of time and effort, only 50 women have been considered for the
purpose of this research.
Onlysalariedworkingwomenhavebeenconsideredforthepurposeofthisresearch.
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1.9 CHAPTER SCHEME
The report of the study is arranged in the following chapters:
CHAPTER 1: INTRODUCTION
Presents a brief introduction of the problem, the Need and Significance of the
Study. Statement of the problem, definition of key terms, objectives, scope
and limitations of the study.
CHAPTER 2: REVIEW OF RELATED LITERATURE

It contains Studies Related to investment pattern among employed women
CHAPTER 3: THEORETICAL OVERVIEW

It contains the
CHAPTER 4: ANALYSIS & INTERPRETATION

Discuss the results of Analysis and Interpretation of Data
CHAPTER 5: FINDINGS, SUGGESTION AND CONCLUSIONS

This chapter includes the findings of the study, suggestions given followed by
the conclusion.
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CHAPTER 2
REVIEW OF RELATED ARTICLES AND STUDYS
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In the words of Best and Khan (1992) review of related literature is an “a summary of
the writings of recognized authorities and of previous research, provides evidence that the
research is familiar with what is already known and what is still unknown and interested.” It
is an exhaustive survey of what has already been done in the field of present study. An
attempt has been made by the investigator to collect the various articles and studies related to
the topic under study. While reviewing the studies, the investigator felt a shortage of research
in the field of demonetization. Hence the articles and some studies which have been
conducted recently have been included in the report.
Presently, the investigator has reviewed the following articles and studies;
Priya Vasagadekar (2014) in her study „WOMEN WORKING IN DIFFERENT

INDUSTRIAL SECTORS IN PUNE TO UNDERSTAND THEIR INVESTMENT
AWARENESS AND INVESTMENT PATTERN‟ studied that,the investment habits, their
role in investment decision making, preferable investment avenues and risk-bearing capacity.
The study also tried to establish relationship between various demographic factors like age,
income, qualification, marital status and investment habits, investment avenues and risk-
bearing capacity. It was found that majority of women did not have detailed knowledge about
all the investment instruments. Women also generally preferred to invest in safe investment
avenues like Bank Fixed deposits, Post-office saving schemes and bonds. It was found 4that
women adopted a conservative approach while investing their savings and many women were
dependent on their husbands and other family members to make investment decisions
R Ganapathi (2014) in his study „THE AWARENESS LEVELS ABOUT INVESTMENT

AVENUES AMONG GOVERNMENT EMPLOYEES THE CITY OF MADURAI‟, Stated
the investment behavior based on various factors like educational background, occupation
and age. It was found that safety of invested amount and capital gains were the most
preferred investment objectives. People preferred safe modes of investment like. Insurance,
Bank Fixed Deposits, Public Provident Funds and National Saving Certificates as compared
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to Shares and Debentures. There was also correlation between demographic factors and
investment objectives.
Rajeshwari Jain (2014) in his study, „The analyze of relationship between income and
investment patterns among working women‟ collected data about, income and investment
pattern from women working in public sector as well as women working in private sector.
The main objectives for investment by women were high returns, tax benefits, emergency
need, retirement plans, security for family and education and marriage of children. Members
of family and especially the husband influenced the investment decisions of a married
woman. The study revealed that women preferred to invest in Bank fixed deposits followed
by other avenues such as gold jewellery, insurance schemes, post office schemes, PPF and
real estate. Younger women were willing to take risks and invest in shares and mutual funds
as compared to older women.
Preeti Singh (2010) in her book on „INVESTMENT MANAGEMENT‟ has provided an

insight in to the world of investments. She has explained how systematic investments should
be made by individuals. The importance of balancing risk and returns has been emphasized.
Quick money trading does not always bring about profitable results. The book explains the
functioning of the financial markets. Investors are provided guidance on how to manage a
portfolio through careful risk and return analysis. It provides the theories of fundamental
analysis, technical analysis and efficient market theory to explain to the investors the process
of analyzing investments and constructing a suitable portfolio to achieve various goals of
short-term as well as long term.
Anju K J and Anuradha P S (2015) in their study, „THE INVESTMENT BEHAVIOUR

OF INFORMATION TECHNOLOGY PROFESSIONALS FROM BANGALORE CITY IN
INDIA‟ argues that, with proper planning of goals and financial resources available to an
individual, investors can design appropriate portfolios to maximize their wealth. A clear
understanding of saving and investment behavior can be relevant to policy makers, financial
institutions and financial advisors to maximize individual wealth of investors. This will also
contribute to the economic progress of the nation as a whole.
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Dr. Jitendra Kumar and Ms. Sangeeta (2013) studied the status of women education in
India. Educated women have an important role to play in the overall progress of the country.
Education helps women to question their traditional role, face challenges and bring positive
changes in their lives. To bring about women empowerment in the country, education of
women is very important. The study found that the level and progress of education of women
in rural areas was very slow. Hence, rural women remain illiterate, weak and backward
making them vulnerable to exploitation by men. The Constitution of India made primary
education the fundamental right of every Indian child. The study concluded that though the
rate of women education is increasing, it is not increasing at the desired rate. To bring more
girls in mainstream education, the Government has started providing various facilities such as
provision of free books, uniforms, mid-day meals, scholarships and boarding facilities.
Efforts should be made to implement and monitor EFA (Education for All) programmes so as
to ensure education for all including education for girls.
Steven G. Blum (2014) has explained in his book, „NEGOTIATING YOUR

INVESTMENTS: USE PROVEN NEGOTIATION METHODS TO ENRICH YOUR
FINANCIAL LIFE‟ how the application of powerful negotiation methods can bring
extraordinary results in investment decisions. Negotiation is what happens when we want
something from someone else or they want something from us. Thus, from our earliest
moments to our dying day, we are negotiators. There is a world of difference between being
someone who negotiates and being a skilled negotiator. An investor can use the tools and
techniques of negotiation in his financial life to bring remarkable monetary rewards.
Steelyana W, Evi (May 18, 2012), WORKING WOMEN AND INVESTMENT

BEHAVIOR-3RD IMHA (International Conference on Management, Hospitality and
Accounting) opines that the economic growth and progress of a nation is greatly influenced
by the role played by working women of that nation. Personal income of the working women
gives them an opportunity to be a part of the family financial decisions. Working women
generally tend to invest keeping in mind the welfare of the family and long term goals. The
researcher tried to understand the attitudes of working women towards various banking
investment schemes and investment avenues in the capital market. An attempt was also made
to study their risk taking abilities while making financial investments. Women should
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diversify their portfolios by mixing banking investment instruments, mutual fund products
and capital market instruments. Factors such as educational background, investment
knowledge, awareness of investment avenues, individual financial goals and risk-profile are
some of the influencing variables in investment decision making.
Juwairiya P.P (2014) studied the „FINANCIAL LITERACY AND INVESTMENT

BEHAVIOR OF WORKING WOMEN IN KERALA (INDIA)‟. It was observed that the
working women depicted a conservative attitude with regards to investment of their savings.
They preferred to play safe regarding the choice of investment avenues. They also did not
have sufficient knowledge to make proper investment decisions.
G Arti, Julee, S.Sunita (2011) made a study the „DIFFERENCES IN THE PROCESS OF
INVESTMENT DECISION MAKING BETWEEN MALE AND FEMALE INVESTORS.‟
It was found that the awareness level regarding different investment avenues was higher in
males as compared to that of females. They also found that females had less confidence in
investment decision-making as a result of which they were not satisfied with their decisions.
Female investors were more careful in the choice of investment avenues as compared to
males. Women preferred to invest in low risk avenues and males also invested in high risk
avenues such as equity shares.
N Dharini et al (2014) in the study „INVESTMENT PATTERN OF WORKING WOMEN

IN DINDIGUL DISTRICT‟ opine that today‟s women have got financial independence. They
also make decisions in savings and investment. Safety, returns and capital appreciation were
the main considerations in making investments. Tax-relief was also an important objective
while choosing a particular investment avenue. The study revealed that educated women and
married women were more interested and aware of the various investment avenues. Most of
the women preferred to invest in bank deposits, life insurance schemes, post office schemes,
gold, silver and real estate. They are of the opinion that Government should make better laws
to protect the interests of the investors.
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Yogesh P Patel et al (2012) made „A STUDY TO UNDERSTAND THE BEHAVIOURAL

PATTERN OF INVESTMENTS AMONG SALARIED PEOPLE IN THE PRIVATE
SECTOR‟. Perceptions of investors towards different investment avenues were also studied.
Savings are necessary to make investment. Return, risk and time are the main elements of
investment. The researchers concluded that young investors were willing to take risks in
investment and preferred to invest in schemes offering tax-benefits, mutual funds and stock
market whereas senior citizens opted for more safe schemes of investment like post office
schemes and Bank fixed deposits. Female investors preferred to invest in gold. According to
them, two main factors of taxation and inflation should be considered while making
C Sathiyamoorthy et al (2015) in his study „THE INVESTMENT PATTERN OF

SALARIED CLASS INVESTORS‟ mentioned that, Investment is undertaken with an
expectation of return which is in proportion to the risk assumed by the investor. The main
objectives of investment are capital appreciation, safety of investment, return on investment,
liquidity and tax-planning. According to them, factors like age of investor, education level
and number of family members are the influencing factors for people while taking investment
decisions. The study revealed that safety of invested funds was more important than higher
returns on the same. Bank deposits were the most preferred form of investment. The main
reasons for saving and investment were children‟s education, marriage and secured life after
retirement.
Heena Kothari (2014) in his study „THE BEHAVIOR OF INVESTORS TOWARDS

DIFFERENT FORMS OF INVESTMENT. Stated that, different avenues should be put forth
to the different age groups in the desired form for consideration by them. The younger
generation should start saving and investing on a regular basis at an early age. This will help
them in saving more for the future needs. The study also highlighted the varied viewpoints of
people belonging to different age groups about different avenues of investment. The findings
of this study can be used by management of organizations offering different investment
options to find innovative ways of attracting investors and providing better service.
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REFERENCES:
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CHAPTER -3
THEORETICAL OVERVIEW
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Theoretical overview is supplies a strong background to the study. It is a strong

backup for the study conducted by the investigator. It gives more clarity and vividness to the
study conducted. Moreover it could be described as the „backbone‟ of the study conducted. It
plays a very important role in proving the effectiveness of the present study as well as its
significance in the field of commerce
3.1 ROLE AND STATUS OF WOMEN IN INDIA
Women comprise nearly 50 percent of the world population and almost 60% of the work
force in the world, especially in the rural sector. In India, they comprise 50 percent of the
labour force. Women are employed mainly in the agricultural sector in India. They are
considered as producers of life. Women are close to nature and natural resources. To
understand any civilization, it is imperative to study the role played by women of that
civilization. One of the best ways to study and appreciate any civilization will be to study the
history of the position and status of women in it. Over the centuries, the status of women has
undergone many changes since the Vedic period to the modern times.
The growth and development of a country depends upon the quantity and quality of resources
including human resources. Human resources comprise both men and women. In India, the
total population consists of males and females in almost equal proportion. The Government
of India has recognized the need and importance of women participation in different areas to
bring about rapid and balanced development of the country. National development cannot be
attained without achieving development of women.
India got freedom from British rule in the year 1947. The Constitution of India which was
drafted in 1949 granted equal rights, status and opportunities to all the citizens of India.
Provisions were also made for the upliftment of women and other marginalized sections of
society. Since then, various programmes have been undertaken for the upliftment of women
in various areas such as education, health, employment and others. Women are now a part of
all walks of life. They play an active role in various fields such as politics, education,
industrial sector, agricultural sector, service sector, health, media, communication and
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technology. Women try to bring about a balance between household responsibilities and
professional responsibilities.
Many laws have been enacted and various programmes have been introduced for
women empowerment in India. In spite of all this, women have to face discrimination and
harassment in all walks of life. Crimes against women are on the rise both in rural and urban
areas of India. Women having different forms of disability and women belonging to the
marginalized sections of society are subjected to different forms of discrimination and
experience violence in their dayto- day lives. Women are not given respect and position in
society which they deserve. In order to reduce gender inequality and bring about true equality
between men and women in India, it is necessary to change the mindset of both men and
women in India. Education can play a major role in this regard. There is need for developing
scientific mindset among the people which will help in bringing social, cultural and economic
changes in India. Equal treatment and opportunities should be given to boys and girls right
from their childhood. Family is the social arrangement where values are imparted to children.
Hence, gender equality should be practiced in every household. Stringent action should be
taken against people who commit crimes against women. The law enforcing machinery,
police personnel and society should behave in a sensitive manner while dealing with the
problems of women. The laws enacted for the safety and protection of women should be
implemented in the right manner and action should be taken within a reasonable period of
time. The benefits of economic development should be enjoyed by all the citizens of India
irrespective of gender. Ensuring gender equality by empowering women in all the areas is the
only solution to all the social and economic problems of India. Women should be treated with
respect and given equal chance for participating in all the decisions. Only when men and
women get equal respect, honour and status in Indian society, can India be called a truly
developed nation.
3.2 EMPOWERMENT OF INDIAN WOMEN
The economic, social and political identities of women are an indicator of the level of
empowerment of women in a nation. These identities are intertwined and interlinked with
each other. If efforts in one aspect are weak or absent, the outcomes in other aspects are
adversely affected. Women can be truly empowered only when all the identities are addressed
at the same time and made compatible with each other. Hence, a holistic approach is needed
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for the empowerment of women in social, economic and political spheres. The Constitution
of India has stressed the importance of principle of gender equality at many places. This
principle is included in its Preamble, Fundamental Rights, Fundamental Duties and Directive
Principles. Along with guaranteeing gender equality, the Indian Constitution has also given
special rights to the Government to frame policies and undertake measures of positive
discrimination favouring women to reduce the gender gap and accelerate the progress of
women in different areas.
„Empowerment‟canbeexplainedasaprocessthat helpspeopletoexercisecontrol
over factors that have an influence on their lives.
Empowerment of women can be described as the development of women as
knowledgeable individuals who are productive economically, active politically and
socially and independent to take intelligent decisions regarding matters affecting their
personal lives.
Empowerment of women can be referred to as the process of their up liftment in
various spheres including economic, educational, social and political spheres.
Womenempowerment necessitatesthebuildingupofasocietywhereinwomenare
treated at par with men. Women must get an equal opportunity to participate and
discussion matters of family, society and the nation as a whole. Women will be truly
empowered if they can live without fear of oppression, discrimination and
exploitation.
The concept of women empowerment originated during the Civil Rights Movement in the
USA
in 1960. Since then, it has been interpreted in different ways to suit different contexts. The
definitions range from an individual level to group level. At an individual level,
empowerment should enable a woman to make decisions regarding her personal life which
means that she will be responsible for her decisions. At a group level, women empowerment
is defined as a process that grants women their basic human rights and social justice.
Empowerment of women is recognized as responsibility of Governments and International

organizations so as to achieve gender equality. Governments from all over the world
committed towards women empowerment at the Social Summit in Copenhagen in 1993 and
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the International Conference on Population and Development in Cairo in the year 1994.Due
to this commitment a clear action plan was prepared at the Fourth World Conference on
women in Beijing, 1995. The various Governments committed themselves to the
“empowerment and advancement of women, including the right to freedom of thought,
conscience, religion and belief, thus contributing to the moral, ethical, spiritual and
intellectual needs of women and men, individually or in community with others and thereby
guaranteeing them the possibility of realizing their full potential in society and shaping their
lives in accordance with their own aspirations”.
Empowerment of women can truly happen only if there is empowerment at different levels:
empowerment at individual level, group level and community level. At the individual level,
empowerment refers to a woman‟s abilities to take decisions about her life, her perceptions
about her value and abilities and her capacity to identify her short-term and long-term goals
and the freedom to work in this direction. At the group level, it refers to the collective
confidence and ability to work as a group for the general betterment of the society. It also
refers to a favourable social and political environment. Such an environment can enable
groups of women to participate in the process of decision making and also in the process of
its implementation.
Empowerment of women at the individual level and the group level are intertwined and
mutually reinforcing. If women are empowered as individuals, they are likely to influence
and form groups that are empowered at the societal level. This will increase the self-esteem
of women and bring about development of the economy as a whole. definitions range from an
individual level to group level. At an individual level, empowerment should enable a woman
to make decisions regarding her personal life which means that she will be responsible for her
decisions. At a group level, women empowerment is defined as a process that grants women
their basic human rights and social justice.
Empowerment of women is recognized as responsibility of Governments and International

organizations so as to achieve gender equality. Governments from all over the world
committed towards women empowerment at the Social Summit in Copenhagen in 1993 and
the International Conference on Population and Development in Cairo in the year 1994.Due
to this commitment a clear action plan was prepared at the Fourth World Conference on
women in Beijing, 1995. The various Governments committed themselves to the
“empowerment and advancement of women, including the right to freedom of thought,
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conscience, religion and belief, thus contributing tothe moral, ethical, spiritual and
intellectual needs of women and men, individually or in community with others and thereby
guaranteeing them the possibility of realizing their full potential in society and shaping their
lives in accordance with their own aspirations”.
Empowerment of women can truly happen only if there is empowerment at different levels:
empowerment at individual level, group level and community level. At the individual level,
empowerment refers to a woman‟s abilities to take decisions about her life, her perceptions
about her value and abilities and her capacity to identify her short-term and long-term goals
and the freedom to work in this direction. At the group level, it refers to the collective
confidence and ability to work as a group for the general betterment of the society. It also
refers to a favourable social and political environment. Such an environment can enable
groups of women to participate in the process of decision making and also in the process of
its implementation.
Empowerment of women at the individual level and the group level are intertwined and
mutually reinforcing. If women are empowered as individuals, they are likely to influence
and form groups that are empowered at the societal level. This will increase the self-esteem
of women and bring about development of the economy as a whole. The International
Women‟s Conference in 1985 at Nairobi introduced the concept of Women Empowerment
for the first time. It was defined as redistribution of social power and control of resources in
favour of women.
The definition of Women Empowerment as given by The United Nations Development Fund
for Women (UNDFW) includes gaining of knowledge and understanding of gender relations
and the
way in which these relations may be changed. As per this definition, women empowerment
should also develop the sense of self-worth in a woman leading to a belief in the ability to
control one‟s life and also bring about desired changes in society.
Meaning of Women Empowerment:
By Women Empowerment we mean the creation of an environment for women which will
enable them to make decisions concerning their personal lives as well the lives of other
marginalized people of the society.
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Women Empowerment refers to increasing and improving the social, economic, political
and legal strength of the women, to ensure equal rights to women and to make them confident
enough to claim their rights.
3.2.1 INDICATORS OF WOMEN EMPOWERMENT
Beijing Conference 1995 has classified the indicators of women empowerment into certain
quantitative and qualitative indicators of women empowerment. These qualitative and
quantitative indicators are discussed below:
Qualitative Indicators
Empowerment should increase the individual and collective confidence of women. It should
result in an increase in self-respect of women. There should be an increase in awareness
regarding health, sanitation, nutrition, reproductive rights and laws related to women. The
literacy rates of women should increase. The overall workload of women should decrease
giving them more time for personal leisure and entertainment. There should be a shift in
family roles and responsibility. Women should have more time for child care. Women
empowerment should bring about changes in social customs such as dowry system, child
marriage and ill-treatment of widows. Women‟s participation should increase in family and
community decisions. The negotiating power of women should increase in all matters
affecting them. The ability of women
to get access to and collect information on various aspects should increase. Empowerment
should lead to the formation of women‟s groups so as to increase their bargaining power.
Women should be able to take decisions regarding their career and the income that they earn.
There should be positive changes in the attitude of the society. Overall, women
empowerment should enable the society to recognize and appreciate the economic
contribution of women for the development of family, community and nation as a whole.
Quantitative Indicators
Women empowerment should lead to desired changes in various demographic trends like sex
ratio, fertility rate, maternal mortality rate, average age of marriage and average life
expectancy. It should also enable women to participate in various developmental programmes
at all levels in large numbers. The access of women over community resources and various
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schemes of the government should increase. There should be greater enrolment of girls in
schools and in higher education institutions. The literacy levels of women should increase
leading to their educational and economic empowerment. Positive changes in the health and
nutrition of women should occur. There should be high level of participation of women in the
political decision-making of the country.
COMPONENTS OF WOMEN EMPOWERMENT:
Four components of women‟s empowerment are identified:
(i) Acquiring knowledge and an understanding of gender/power relations and ways in which
these relations may be changed;
(ii) Developing a sense of self-worth, a belief in one‟s ability to secure desired changes and
the right to control one‟s life;
(iii) Gaining the ability to generate choices and thereby acquiring leverage and bargaining
power; and
(iv) Developing the ability to generate, organize or influence the direction of social change to
create more just, social and economic orders nationally and internationally.
4.5 TYPES OF EMPOWERMENT
The term „women empowerment‟ has been defined and interpreted by different individuals
and organizations from different perspectives. It ranges from empowerment of women at
individual level to their empowerment at a group level. Empowerment of women may be
classified into five main parts: social, educational, economic, political and psychological.
Social empowerment
Social Empowerment refers to the force that will enable and strengthen women‟s position in
society and also improve their social relations. This is based on the discriminations existing
in society due to gender, race, religion and other social norms. This kind of empowerment
will help women to take control of their lives by taking independent decisions and choices
regarding their personal lives. It will also give them the requisite power and confidence to
bring about desired changes in the society. Once women get empowered, they can enjoy
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equal status, equal rights and freedom of choice and decision-making. This will make them
on par with men. In short, social empowerment of a woman means enabling a woman to not
only take control of her individual life but also be able to contribute to the development of
society. It also means that a woman‟s contribution is recognised and valued by society.
Educational Empowerment
The most important means for women empowerment is education. It increases their
intellectual abilities, creates awareness about their rights and their environment which in turn
helps them to take decisions regarding their growth and development. Education is an
important instrument of economic, political and social transformation. It is an important tool
for achieving gender equality and ensuring women empowerment. Many people in India are
caught in the vicious cycle of poverty. To break this cycle, education is a necessity.
Education helps women to get employment and economic independence. Such independence
will improve their status, increase their access to resources and enable them to fight against
discrimination and other forms of violence inflicted on them. Though education is necessary
for empowerment of women, it does not automatically ensure empowerment. For ensuring
empowerment through education, the system of education should be of very good quality
which promotes critical thinking among the
people. From women‟s point of view, education and literacy should increase their curiosity
and enable girls and women to think critically to understand their problems and situations.
Education should enable women to understand their role, question the authority of men and
help them in making informed decisions.
Economic Empowerment
When women lack economic empowerment the process of growth and poverty reduction are
greatly hindered. It also results in many negative consequences including less favourable
education and health outcomes for children especially girls. Hence, it is very important to
take measures to enhance the economic empowerment of women. Money means power and it
is true in the case of women empowerment too. When women earn money, they contribute
towards their family income and also achieve financial independence. This independence can
help them to come out of the vicious cycle of poverty. Poverty and gender inequality are
inter-linked. It is found that inequalities between girls and boys are more acute among poor
people in comparison to those of rich people. Gender inequalities exist in education, diet and
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nutrition and in access to medical and health facilities. Economic participation of women is
important as it will increase the household incomes. This will help in reducing inequalities of
income and will also accelerate the economic development of the country. Education,
employment and ownership rights of women greatly influence their ability to control their
environment and contribute to economic and social progress.
Political Empowerment
Women empowerment in the true sense can happen if women participate in the political field
of the country and make an active contribution in decision-making process at different levels
of government. Women from different parts of the world are subjected to various kinds of
discrimination and oppression. They have to face ill-treatment not only within their homes,
but also in society. To ensure progress of women and to enable them to fight oppression and
illtreatment of all kinds, women should be a part of the Governing bodies of the country.
Participation at all levels of government will give women an opportunity to formulate
policies and ensure that they are implemented in the right manner. The formation of a gender
equal society is possible only when women participate in political decisions of the country.
Political participation will enable women to question the existing power structure and will
also enable them to bring desired changes in the nation. Political empowerment of women
will lead to decentralization of power and authority. It will give power to the powerless
people to bring changes in economic and social structures.
Psychological Empowerment
Empowerment of women should not be only from external sources, it should happen from
within. When women develop self-confidence and the ability to take decisions concerning
their lives and participate in bringing positive changes in the lives of others, they are said to
be psychologically empowered. Psychological empowerment helps women to transgress
traditional and patriarchal taboos and social obligations and enables them to transform their
individual lives in the desired manner. When women get educated, employed, own property
and investments, participate in various decision- making bodies, they feel psychologically
empowered. Such empowerment leads to their overall progress and gives them a feeling of
dignity and self-respect. Women become tough mentally which helps them to adapt to the
changing circumstances. A sense of dignity enables women to live life to the fullest in
relation to family, work and society.
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WOMEN EMPOWERMENT IN INDIA
The principle of gender equality is enshrined in The Preamble, Fundamental Rights,

Fundamental Duties and Directive Principles of the Indian Constitution. Women are
considered equal in all respects. The Government of India has recognized the important role
and contribution of women in the development of Indian economy. Due to the existence of
gender inequality, various barriers are created in the progress of the nation. Hence, to bring
about gender equality, it is necessary to empower women. For this purpose, the State has
been empowered to adopt measures for the progress of women in different spheres. All the
five year plans have made special efforts to deal with women‟s issues. However, from the
fifth five- year plan (1974-78), the approach in dealing with women‟s issues has changed.
The approach is not simply the welfare of women but also the progress and development of
women in different areas. All the plans from the eighth five year plan have taken measures to
enhance women empowerment. Various International conventions and human rights
instruments have made efforts to grant equal rights for women. India has also ratified them.
One of them is the Convention on Elimination of All Forms of Discrimination against
Women (CEDAW) in 1993. In the year 1990, The National Commission for Women was set
up by an Act to protect the rights and other entitlements of women. The UN Conference on
Population and Development in 1994 also considered women empowerment as the focal
point of discussion. Gender Empowerment Measure (GEM) was developed which focussed
on three parameters which would reflect participation of women in society. These parameters
were women‟s participation in politics, education and health. The Indian Government also
declared 2001 as the Year of Women Empowerment (Swashakti). In the same year, the
National Policy for the Empowerment of Women was passed.
Initiatives taken for Empowerment of Vulnerable and Marginalised Groups and

Women in
Difficult Circumstances
• Schemes of National Scheduled Tribes Finance and Development Corporation
• Integrated Child Development Scheme
• National Rural Health Mission
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• Janani Suraksha Yojana
• Integrated Child Protection Scheme
• Swadhar—A scheme for Women in Difficult Circumstances
• Targeted Public Distribution System (TPDS)
• Antyodaya Anna Yojna (AAY)
• Ujjwala—A Scheme for Prevention of Trafficking and Rescue, Rehabilitation and
Reintegration
• Rashtriya SwasthyaBima Yojana (RSBY)
• Sarva Shiksha Abhiyan
• Indira Gandhi Matritva Sahyog Yojana (IGMSY)—A Conditional Maternity Benefit

Scheme
• Rajiv Gandhi Scheme for Empowerment of Adolescent Girls (RGSEAG)—Sabla
• Swayam Siddha
• Scheme for Working Women Hostel
• STEP (Support to Training and Employment Programme for Women)
• Swarnjayanti Gram Swarozgar Yojana
• Indira Awaas Yojana (IAY)
• Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
3.3 INVESTMENT
The term „Investment‟ has many meanings. It means the use of funds for earning income or
increasing the value of money over a period of time. Every individual earning income would
like to put the spare funds to use which will yield him returns in the future. By investment it
means funds available at present are committed for some purpose for a certain period of time
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so as to get funds in the future which will compensate the investor for time period, rate of
inflation and also uncertainty associated with the future. It means sacrificing some money
value in the present with the hope of getting more money value in the future Investment as
understood by a common man refers to the commitment of money for some purpose. Such
investments are also known as financial investments.
Examples of investments are:
DepositingmoneyinaBankFixedDeposit.
DepositingmoneyinPPFAccount.
Buyingaproperty.
Buyingunitsofmutualfunds.
Buyingequity/preferencesharesofacompany
Buyingdebentures/bondsofacompany
Buyinggoldorsilverjewellery
Depositingincorporatefixeddeposits
ELEMENTS OF INVESTMENT
Elementofsacrifice:
Investment involves sacrificing current consumption of money value. An investor

sacrifices the current consumption of money to utilize the money for some commitment
like buying shares, investing in bank deposit, buying property, buying precious metals
like gold, etc.
Elementoffuturity/time:
Investment is made by an individual for a certain period of time. The period of time may
be few days, few weeks, few months or even few years. Based on the time period,
investments are classified into short-term, medium-term and long-term investments.
Generally, expected returns are higher for long-term investments as compared to that of
short-term investments due to uncertainty of the future. The element of time is an
important factor to be considered while selecting the type of investment. Returns vary
with changing time and changing scenario. Hence, there is a need to regularly evaluate
the investments. An investor having a short term investment objective will select a less
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profitable short term investment as compared to a long term investment even if it is more
profitable.
Elementofrisk:
It is a chance of loss due to variability in the expected returns. Every type of investment
carries a certain element of risk. The degree of risk depends upon the type of investment.
Since investments are always made for certain period of time in the future, there is an
element of risk associated with it. Future is always uncertain. Due this uncertainty, the
chances of getting lower return or adverse return in contrast to the expected return is
referred to as risk.
Expectationofgains/Return:
Investors do not invest their money for charity. It is always done with the expectation of
gains in the future. Returns or gains may be earned regularly or as a lump sum after a
period of time. Expected gains from investment represent compensation for waiting,
compensation for loss in purchasing power and compensation for the risk undertaken.
Every investor desires to earn returns from his investments. It is a reward for sacrificing
the current consumption in exchange for future consumption. Returns are earned in two
ways: 1. Current income in the form of interest or dividends and 2. Capital gains in the
form of appreciation in the value of investments.
INVESTMENT OBJECTIVES
Investment objectives may be classified as:
1. High priority objectives:
For achieving such objectives funds are committed on a high priority basis. They may be for
buying a residential house property, for providing for children‟s education.
2. Low Priority objectives:
After achieving the high priority objectives, remaining funds may be invested to attain the
low priority objectives such as buying a motor car, jewellery, etc.
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3. Financial Objectives:
These are desired by all the investors. Some of the financial objectives are safety of
investment, yield on investment and liquidity of investment.
4. Personal Objectives:
Every individual has his own personal objectives based on his individual needs such as
buying a house for self-use, providing for children‟s education, providing for old age after
retirement, to get tax benefits, for recreational purposes and so on.
INVESTMENT PROCESS
Any rational individual would like to make sound investments which will meet his goals and
also maximize returns with minimum amount of risk. But making such sound investments is
not easy considering the fact that various investment options are available having different
rates of returns, levels of risk and different maturity periods. Devising a suitable portfolio to
meet an individual‟s goals is a complicated exercise. To design an appropriate portfolio,
certain steps have to be followed which are as follows:
1. Review of Investment avenues:
This is the first step in investment process. The investor should look into all the available
options before making investment such as Bank FD, PPF, Post office Savings, mutual funds,
buying shares/debentures/bonds.
2. Determination of investment objectives and constraints:
Different investors have different objectives in making investment. Investment decisions

result in the creation of a portfolio which depends on the objectives, constraints and style of
taking investment decisions. An investor has various goals which have to be met at different
points of time in his life which may be classified into short-term, medium term and long-term
goals. He will also consider return on investment, safety of funds, liquidity of investment,
regularity of income, tax savings and capital gains provided by different forms of investment.
The investor may also have certain constraints like insufficient funds, irregular flow of
income and high rate of taxes, need for liquidity, time period of investment and certain
unique preferences and circumstances which will decide the mix of securities in the portfolio.
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3. Investment Analysis:
There are various techniques to make an analysis of securities. They are fundamental analysis
and technical analysis. In fundamental analysis, various fundamental factors like economic
indicators, industrial indicators and company related facts and figures are analyzed. An
investor is interested in knowing appropriate timing of investment and also the best avenues
of investment. In this analysis, one also calculates the intrinsic value of shares. Intrinsic value
is that value of a share which is supported by assets, profitability and financial performance
of the company. An idea about intrinsic value helps in making investment decisions.
Generally the share prices hover around their intrinsic values. Buy/sell decisions of shares are
done based on a comparison of market prices and intrinsic value of shares.
In technical analysis, share prices and the traded volumes of shares are studied to predict the
near future price movement. It is based on the belief that history repeats itself. Price patterns
and traded volumes are repeated in intervals. Demand and supply of securities are affected by
certain logical factors and also psychological factors. Technical analysis helps in forecasting
the trends in movement of prices and volumes traded.
4. Portfolio Construction:
After making an analysis of investment avenues and considering the various objectives and
constraints of investment, an investor has to construct his portfolio. This involves identifying
specific avenues for investment and the amount to be invested in each avenue so as to achieve
the investment goals. Portfolio refers to the combined holding of different securities.
5. Performance Evaluation:
After investing in the securities as decided in the previous step, an investor should evaluate
the performance of the various investments in his portfolio on a regular basis and objectively.
This will help in knowing whether his objectives are being attained or not.
6. Portfolio Revision:
All of us live in a changing environment. Such a changing scenario affects the interest rates,
the prices of securities and the market conditions. This influences the performance of the
various investments. Hence, there is a need for performance evaluation and revision of
portfolio to suit the investor‟s objectives. Portfolio revision involves repeating all the
previous steps.
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IMPORTANCE OF INVESTMENTS
Investments have gained lot of importance in the present day conditions due to the following
reasons:
1) Longer life expectancy: The general retirement age of people is between 60 and 65 years.
Average life of individuals has also increased due to better medical facilities. Individuals
working in the private sector do not get pension after retirement from their employers. Hence,
individuals should start investing at an early age to get the benefit of compounding. Savings
and investments should go hand in hand during the earning years of an individual.
Investments and the resulting income from them should be planned in such a manner that
they will ensure that the individual and his family are able to maintain the same standard of
living which was enjoyed by them in the period before retirement. Increase in the working
population, proper planning for life span and longevity have ensured the need for balanced
investments.
2) Taxation:
Due to the existence of various taxation policies, savings and investment in certain
instruments have become necessary. Savings are channelized into the desired sectors by
introducing tax incentives and tax exemptions. Investment in such avenues will give benefits
to the tax payer.
3) Interest rates:
The rate of interest provided by different investment avenues is different. The interest rate
provided by risky investment avenues tends to be much higher as compared to that of the
safer ones. It may also be different owing to the varied benefits offered by various
instruments. Many other factors along with interest rate have to be considered before making
investment decision.
4) Inflation:
Rising prices and inflation are a common problem of all developing countries of the world.
Due to inflation, the real value of money goes down. Hence, investors have to select those
instruments which will give a high rate of interest to cover the inflationary rate. In addition to
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safety of principal and rate of return, the taxation policies of the Government should also be
considered before making investments.
5) Increasing incomes:
There has been a general increase in employment opportunities in India. This has led to
increasing incomes in the hands of the people which have in turn increased the savings and
greater demand for investment opportunities. People are also aware about different financial
assets and real assets. This has encouraged individuals to earn more income, save and invest
to enjoy better standard of living.
6) Change in the family structure:
The family structure in India is changing from a joint family pattern to a nuclear family
structure. Savings and investment did not have much importance in the joint family system as
individuals enjoyed a reasonable amount of security and satisfaction of their basic needs even
in the absence of regular income. However, in the nuclear family system, the need for savings
and investment has assumed greater significance owing to small size of families.
PORTFOLIO MANAGEMENT
Portfolio means a combination of various assets in which the investor has invested the money
to achieve the investment objectives. It refers to a combined holding of various investment
alternatives such as Bank FDs, PPF, investment in gold/silver, Post office savings, shares of
companies, debentures/ bonds of companies, Government securities, property, mutual funds
and so on. A portfolio is always considered to be the best as compared to investment in a
single investment avenue as it offers a better combination of risk and return. Having a
portfolio of investments is like not putting all the eggs in one basket. Portfolio management
refers to the efficient management of the investments in the portfolio. It includes proper
selection of securities, regular performance evaluation and revision of portfolio to attain the
desired investment objectives.
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PRINCIPLES OF PORTFOLIO CONSTRUCTION
a. Portfolio matters far more than the individual security:
All investment decisions should focus on the impact of a certain decision on the overall
portfolio than on an individual security forming a part of the portfolio. The aim should be to
maximize the overall returns and minimize the overall risk rather than concentrating on the
risk and returns of only one individual security.
b. Larger portfolio returns come only with larger portfolio risks:
It is necessary for an investor to first decide the acceptable level of risk. However, an investor
has to bear in mind that higher returns will come only with higher risks.
c. Diversification works:
Investing in various classes of assets will reduce the portfolio‟s risk. The loss due to one
security may be compensated due to profits made in others in a diversified portfolio. This will
reduce the overall risk of the portfolio as compared to investment in one security.
d. Portfolio should be constructed as per individual requirements:
Different individuals fall in varying income groups and hence have varying tax rates. Their
goals of investment and acceptable levels of risk may also vary. Hence, a single strategy for
portfolio construction may not work for all investors. Therefore, it is necessary to design
portfolio to suit individual requirements. In designing an appropriate portfolio, necessary
advice and guidance of investment consultants may be obtained.
OBJECTIVES OF PORTFOLIO MANAGEMENT
The major objectives of portfolio management are as follows:
1. Maximizing returns:
A portfolio should be constructed in such a way so as to maximize the returns from it as

compared to the individual securities in it. Returns may be in the form of current income or in
the form of capital gains.
2. Minimizing portfolio risk:
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The overall risk in the portfolio should be minimized as compared to the risk involved in
individual securities. This is achieved by diversification of funds in various securities rather
than in one or very few securities.
3. Liquidity:
A certain proportion of the funds should be invested in such securities which can be easily
converted into cash. This will enable an investor to buy new securities at the right time to
improve the overall returns of the portfolio or reduce the overall risk involved. It will also
help in getting cash during emergency.
4. Tax Benefits:
Different individuals fall in different tax-brackets due to varying levels of income. The
returns from different securities also attract different tax-rates. Some returns such as
dividends from shares in Indian companies are tax free in the hands of investors in India.
Interest income from PPF, NSC is also exempt from tax in India. Hence, portfolio should be
constructed keeping in mind the tax rate and the tax benefits from different securities.
5. Other objectives:
Certain individuals like old people may have priority of regular monthly income to meet their
daily needs. As against this, young individuals may be looking for higher capital gains in the
long run. While constructing a portfolio, such individual objectives should also be kept in
mind.
INVESTMENT AVENUES IN INDIA
There is an array of investment outlets available for an individual. These include Bank
deposits, life insurance policies, provident fund, national saving schemes, post office
deposits, government securities, bonds and debentures, equity shares, preference shares,
mutual funds, real estate, precious metals, art objects.
The investment avenues may be classified into the following three categories:
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a) Non Marketable fixed Income avenues: Bank Deposit, Corporate Fixed Deposit, and
Provident Fund including PPF, National Saving Certificate and Post Office Deposit Schemes.
b) Marketable Avenues: Equity Shares, Preference Shares, Fully Convertible Debentures,

Non- Convertible Debentures, Bonds, RBI‟s Tax Free Bonds, Gilt Edged Securities, Private
Equity & Venture Capital.
c) Other Avenues: Units of Mutual fund, Life Insurance, Investment in precious metals like
gold and silver, Real Estate and Art objects.
NON MARKETABLE FIXED INCOME AVENUES
This avenue includes Bank Deposit, Corporate Fixed Deposit, Provident Fund including PPF,
National Saving Certificate etc. Such instruments are not transferable in the market without
permission by concerned issuing body. These instruments cannot be sold in open market.
After the maturity period investors get their maturity amount. These investments are
considered to be safe as the risk is very low. However, the returns from them are also
generally low. These are the traditional forms of investment which are preferred by
individuals and households.
A) Deposits with Commercial Banks
Different types of deposits with commercial banks are very popular with individuals and have
been growing due to attractive investment plans provided by them. Such deposits provide
stability of returns, security and liquidity. Commercial bank fixed deposits are also accepted
as collateral security for loans. The following kinds of deposits are provided by the banks:
Saving Bank Account: Deposits in Savings bank account are the most liquid form of
investments. It allows the accountholder to make regular deposits and withdrawals from his
account. The investor also gets return in the form of interest after every six months. However,
there is a minimum amount which has to be kept at all times in a Savings bank account. This
minimum balance is different for different kinds of banks.
Current Account:
A current account is usually opened by a businessman. This type of account provides

maximum liquidity. It also provides overdraft facility to the accountholder. All the banks
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provide many services to current account holders. However, banks do not provide interest on
the positive balance lying in the account.
Recurring Deposits:
It is a scheme wherein an investor may at regular intervals deposit a fixed amount in this
account. It is to be deposited for a pre-decided period of time at the end of which the investor
receives the principal sum along with accumulated interest. The recurring deposits are usually
fora period ranging from 12 months to 120 months.
Fixed Deposits:
Here, the investor has to keep the amount for a fixed period of time. Each Bank has certain
special schemes. The interest provided on fixed deposits is higher than that of savings
account.
Mutual Fund Schemes:
Commercial banks in India have also started mutual fund schemes. The first bank to take this
step was the State Bank of India in 1987. The schemes of SBI are very popular. They carry
return in the form of dividend.
B) Fixed Deposits In Companies
Another type of investment is the fixed deposit investment schemes offered by various
companies. These schemes are generally offered by large and well reputed public limited
companies in the private sector. Deposits may be cumulative or non-cumulative. Such
deposits represent unsecured loans for the companies and are regulated by Company Law
Board and RBI. Funds are kept in fixed deposits of companies for a certain period of time. A
fixed rate of interest is paid on such funds during the stated period. There is an element of
risk involved as there is a risk of default by the Company. However, a proper study of the
company before investing in its fixed deposit will help the investor to earn higher returns.
There are many credit rating companies which rate the creditworthiness of companies. A
study of such ratings can help an individual in making decisions regarding the investments in
company fixed deposits.
C) Provident Fund
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Another form of saving is through Provident Fund. This form of investment is preferred by
salaried individuals as they provide safety, reasonable returns and tax benefits. There are
mainly four types of provident funds. They are as follows:
StatutoryProvidentFund
RecognizedProvidentFund
UnrecognizedProvidentFund
PublicProvidentFund
D) National Saving Schemes
The Indian government needs funds to finance the various developmental projects in the
country. One of the methods of financing is by mobilizing the savings of smaller income
groups through National Saving schemes. Such schemes are mainly operated through the Post
Offices. Due to the tax free nature of such schemes, individuals from higher group of income
also invest in the same. A lump sum amount is invested under this scheme. The principal
amount is repaid to the investor after the specified period of time. Interest may be paid at
regular intervals or along with the principal amount at the end of the given period of time.
The rate of interest is usually higher than that offered by Commercial Banks. Banks also
accept them as collateral security for providing loans to individuals.
E) Post Office Deposits
India has the distinction of having the largest postal network in the world with more than
155000 post-offices located all over India. Nearly 90% of them are situated in rural India.
They have an important role in the life of the rural people. They connect the rural people with
other parts of the country. In many villages of India, banks do not exist. Post offices provide
banking facilities in such areas. They also provide a medium for investing the savings of the
rural people. Post offices provide different types of avenues such as Savings Account, Time
Deposit Account, Recurring
Deposit Account, Monthly Income Account and Senior citizen‟s Savings Account.
F) Government Securities/Bonds
Governments need money to discharge various functions. They need money for everything
from setting and maintaining infrastructure, creating employment opportunities, utilization of
resources to implementing various social programmes. One of the means of raising huge
40 | P a g e
sums is by issuing bonds/debt instruments/securities to a public market. Most of the

Government securities are purchased by Commercial Banks, Government companies and
other organizations. Some specific bonds are issued to the general public. Investing in these
bonds helps an individual to avail of tax benefits. Amount invested in such bonds is eligible
for tax-exemption u/s 80C of the Indian Income-tax Act. Interest income from such
investment is also eligible for tax benefits. Individuals looking for low-risk investments may
invest in such bonds though the returns may be low as compared to other forms of
investment.
MARKETABLE AVENUES
These are the instruments available to investors which can be sold in market. Investment in
such instruments is risky in nature. However, the returns from them can be higher in the long
run if invested by doing proper analysis.
A) Equity Shares
Equity shares are also called as ordinary shares. From the investor‟s point of view, they are
more risky than bonds and preference shares. However, they offer greater advantage to the
equity shareholders as compared to bond holders and preference shareholders. Equity shares
give many rights to their holders. An equity shareholder has the right to vote, the right of
being offered right shares, the right to bonus issues and certain tax benefits. Return is
provided to such shareholders in the form of dividend. However, the declaration of dividend
and the rate of dividend provided to the shareholders are based on the profits made by the
company and the decision of the Board of Directors. The investor can also hope for a price
appreciation and rise in the value of equity shares. Equity shares represent the ownership
position in a company. Individuals having equity shares of a company are the true owners of
the company both in real and legal terms. A company gets permanent capital by issuing
equity shares as they do not have maturity period. For providing capital to the company,
equity shareholders get a share in the profits in the form of dividend. There is no compulsion
on the part of a company to pay dividend to its equity shareholders. The rate of dividend
provided on equity shares is variable in nature and is based on the resolution passed by the
Board of Directors of the company. Hence, equity shares are also known as variable income
security.
B) Preference Shares:
41 | P a g e
Two kinds of shares can be issued by a company which are equity shares and preference
shares. Preference shares are that part of a company‟s share capital which has a preferential
right to payment of dividend at a fixed rate and also repayment of capital when a company is
wound up. If the shares issued are not preference shares, then they are regarded as equity
shares. Shares once issued as preference may also be converted into equity shares. Such
preference shares are called as convertible preference shares. Non-convertible preference
shares are those preference shares which cannot be converted into preference shares.
C) Corporate Bonds/ Debentures
Corporate bonds are instruments acknowledging debt by a company or corporation. Such

bonds carry a fixed rate of interest for a fixed period of time. Principal amount is repaid on
the date of maturity. In India, corporate bonds are issued to the public by both private and
public companies. Even multinational companies in India can issue corporate bonds.
However, companies which are not incorporated in India cannot issue such bonds. Also,
statutory corporations formed under a Statute can issue corporate bonds. For example, Life
Insurance Corporation of India is a statutory organization which can issue bonds.
D) Mutual Funds
A mutual fund is a trust which mobilizes the savings from many small investors. The amount
so collected is then invested in various types of securities or assets based on the objectives for
which the money is collected from investors. The securities or assets in which amount is
invested by the mutual fund are the portfolio of the mutual fund. Every investor is a part
owner of that portfolio which is proportional to the units of mutual fund that he owns. He is
also entitled to the income or appreciation generated by the portfolio in a proportionate
manner. An investor has to consider the unique characteristics and objectives of a mutual
fund before deciding to invest in a mutual fund. Objectives and characteristics of mutual
funds vary widely from one another. A mutual fund is managed in a professional manner.
Investment of the funds collected by a mutual fund in wide range of securities ensures
reduction of risk due to diversification. Hence, it may be said that a mutual fund is a trust that
mobilizes the savings of a large number of investors who have a common financial goal.
E) Private Equity
This involves the purchase of equity or equity-linked securities in a business firm which is
usually done through negotiation. Such type of investment is done by High Net worth
42 | P a g e
Individuals having financial and operating expertise. The main objective is to acquire shares
in undervalued but promising companies and realize profits by selling them after a few years.
OTHER AVENUES
A) Life Insurance
Life insurance is a contract between a person and an insurance company for a number of
years covering either the life time period or a fixed number of years. Life insurance is
considered as an investment due to the following reasons:
1. It provides protection against risk of early death.
2. It can be used as collateral for taking loans from banks.
3. Life of key persons in an association can be protected.
4. It provides tax advantages.
5. It is a sum of money received at the end of a particular number of years.
Life insurance is therefore, considered an investment with an element of protection and an

element of investment.
B) Investing In Real Estate
Real estate investments include home ownership, ownership of rental properties, land and
other indirect investments in real estate through trusts. Ownership of residential homes
generally accounts for the largest investment made by individuals and households in India.
The purchase of a home involves one of the largest expenditure made by an investor. This
expenditure is different from other types of expenditures made. Few people have enough cash
to pay the entire cost of the home. Most of the people make a down payment and borrow the
balance amount from a Bank or a financial institution by mortgaging the same house property
as collateral. However, the borrower should have the financial ability to repay the principal
amount together with the interest on a monthly basis as decided. Owning house property also
requires the ability to pay real estate taxes, insurance and maintenance on the same. There are
43 | P a g e
many tax benefits and opportunities to increase wealth through capital appreciation by
owning house property. Most homes appreciate in value and prices generally increase in the
direction of inflation. Hence, every investor has some part of his portfolio invested in real
estate. Investing in real estate requires large sum of money. Regular repairs and maintenance
of the property is also needed. It is also a risky form of investment. Although the average rate
of return is high, it involves tax payments such as property tax, wealth tax and capital gains
tax. It is also the least liquid form of investment.
C) Pension Funds
A Pension Fund is a legally set up retirement plan by an entity which may be a Corporation,
Government or any other organization. It is a retirement plan in which periodical
contributions are made by an individual. These contributions may also be made on behalf of
an individual. These funds yield a regular income after an individual‟s retirement or after a
certain period of time. Sometimes, a lump sum amount may be given after the defined period
of time as per the agreed terms.
Types of pension plans:
DefinedBenefitPlan:Underthisplan,thereisaguaranteethatafixedamountwill
be
given to the investor irrespective of the performance of the underlying assets.
DefinedContributionPlan:Underthisplan,theamountofcontributiontobemade
by
an investor is fixed. However, the amount receivable by the investor is not fixed as it is
based on the performance of the underlying assets.
D) Gold, Silver, Other Precious Metals And Precious Stones
Investment in precious metals is done basically for the expected appreciation in their prices.
When the net sale price is greater than the net purchase price, there is appreciation in value.
This is treated as capital gains. Gold is considered to be one of the most valuable assets in
any economy. In India, investment ingold is considered to be a primary form of savings and
investment. Investment in gold is considered as a hedge against inflation or a reserve for
44 | P a g e
future use during emergency. Investment in gold is generally in the form of jewellery, bars or
coins. Nowadays, individuals also invest in gold ETFs.
Silver is another metal where people like to invest in India. Silver may be owned in the form
of coins, utensils, bowls, glasses, plates or jewellery. This is also used as a hedge during
inflation. It is said that diamonds are loved by women. Investment in diamonds is also very
popular in India. However, it is extremely risky as the value of diamond is based on
judgement and there are chances of getting cheated. Hence, diamonds should be purchased
after taking professional advice. Holding diamonds for some years appreciates their value.
Individuals are also interested in buying other types of precious stones like rubies and
emeralds. Generally they are purchased in the form of jewellery. People also invest in
platinum, copper and bronze in various forms like jewellery, crockery and bars.
E) Investing In Collectibles/Antiques
Antiques/Collectibles may be in the form of paintings, sculpture, coins, stamps, flower vases,
watches or cars. Investment in antiques is generally done by rich people or by individuals
having passion for these items. It is very difficult to decide the value of such items.
Professional advice has to be taken before investing in them. There are certain unique
features of such collectibles which distinguish them from other forms of financial
instruments.
It is very difficult to determine the value of a collectible. For valuation of a

collectible, specialized knowledge is required in that field.
Supplyanddemandrelatedtothatcollectibledetermineitsvalue.Paintingsofgreat
artists are generally limited and therefore they command very high prices.
Marketsofgreatworksofartandotherformsofcollectiblesarenotorganized.They
are informal and unregulated. Due to this, prices are not listed. Prices are decided on
an individual basis.
Aninvestorincollectiblescannot getovernight profits.Onlywhentheantiquesare
sought after and appreciate in value can the investor make profits if he decides to sell
them.
Collectiblesareconsideredtobeilliquidassetswithveryhightransactioncosts.
45 | P a g e
CONCLUSION
Investing is not easy. There are various reasons why people invest. One of the main reasons is
that individuals are living longer and they need money to sustain the same standard of living
after retirement which they enjoyed before retirement. If investments are made on a regular
basis, then funds will be provided at a later date to meet the needs of the future. If
investments are not made carefully, they will lead to lower or negative returns which will
further reduce the future purchasing power. Hence, proper financial planning should be
undertaken to save more and invest wisely in a balanced mix of securities. While making
investment it should be kept in mind that the expected rate of return should cover the inflation
rate and the individual tax rate The rate of return should also commensurate with the intrinsic
risk involved in the investment avenue. Money kept in Savings accounts and investments
made in money market accounts having low rate of returns do not contribute significantly to
wealth accumulation. Investment in equity shares, mutual funds, bonds and real estate give
higher rate of returns. However, these investments are risky. Hence, an investor should
understand the types of risks, the extent of risks and the uncertainty associated with each of
these investments before investing. There are various investment avenues available in India.
A person has to make a portfolio of such investment alternatives based on his/her investment
goals, risk-taking capacity, preferences in terms of safety, liquidity, return, tax benefits and
other factors. What is good for one investor may not necessarily be good for another investor.
Some instruments are absolutely safe but yield low returns. Some schemes provide good tax
benefits. An investor is confronted with a variety of investment avenues having different
features, merits and de-merits which add to his confusion regarding the right choice of
investment schemes. An in-depth understanding of the features, pros and cons of various
investment avenues is necessary to construct a sound investment portfolio.
The main aim should be to maximize the returns and minimize risk. The maxim “Do
not put all your eggs in one basket” should be kept in mind while designing an appropriate
portfolio.
46 | P a g e
ANALYSIS & INTERPRETATION

.
Collection and tabulation of the data cannot directly emit the actual results
associated with the study. It needs an “analysis” through which “interpretation” can be made.
The interpretation of the data is the careful and critical examination of the results of analysis.
Data Analysis is the process of systematically applying statistical and/or logical techniques to
describe and illustrate, condense and recap, and evaluate data. An essential component of
ensuring data integrity is the accurate and appropriate analysis of research findings
According to the Best (2008),”Analysis of the data is the heart of a research

report”. In the present study the analysis was directed towards to test, the Impact of
Demonetization on Co-Operative Sector. For this purpose percentage, chi- square and
ranking techniques were applied.
1.6.4.2 CHI-SQUARE
A chi-squared test, also written as χ2 test, is any statistical hypothesis test wherein the
sampling distribution of the test statistic is a chi-squared distribution when the null
hypothesis is true. Chi-squared tests are often constructed from a sum of squared errors, or
through the sample variance. Test statistics that follow a chi-squared distribution arise from
an assumption of independent normally distributed data, which is valid in many cases due to
the central limit theorem. A chi-squared test can be used to attempt rejection of the null
hypothesis that the data are independent.
χ2 is calculated as follows
− 2
χ2 =
O = Observed frequency
E = Rawtotal ∗ Column totak

Grand total
47 | P a g e
After getting the calculated value the investigator must get the table value to see
whether the two factors are significantly related or not. Here the researcher found out the
table values at both levels of significance i.e.; at 5% level of significance.
Table values at 5% level of significance = Degree of Freedom = (r-1)(c-1)
; in the present study
r = 4,
c= 8
DoF = (4-1) (8-1)
. = (3*7)
= 21
48 | P a g e
ANALYSIS OF INFORMATION COLLECTED
TABLE 4.1
AGE GROUP
Frequency Percentage
20-30 28 56 %
30-40 13 26 %
40-50 6 12 %
50 and above 3 6%
Total 50 100 %
From the above table it is clear that, 56% of the respondents are in 20-30 age group,
while 26% of the employees are with them from 30-40 age group, 12% are in 40-50 and the
rest 6% are in 50 and above age group. Out of total respondents majority are from 20-30 age
group.
FIGURE 4.1
AGE GROUP OF RESPONDENTS
AGE GROUP
6%
12%
20-30
56% 30-40
26%
40-50
50 and above
49 | P a g e
TABLE 4.2
MARITAL STATUS OF RESPONDENTS

Response No of Percentage
respondents
Unmarried 10 20 %
Married 37 74 %
Divorced 1 2%
Widow 2 4%
Total 50 100 %
From the above table it is clear that, most of the respondents are married that is 74%,
unmarried respondents are only 20 % and there is only a small percentage of divorced and
widow respondents. It shows that a major propotion of respondents belong to the married
category.
FIGURE 4.2

2%
4%
20%
Unmarried
Married
Divorced
Widow
74%
50 | P a g e
TABLE 4.3
EQUCATIONAL QUALIFICATION OF RESPONDENTS
Response No of respondents Percentage
Graduate 26 52 %
Post Graduate 12 24 %
Professionally Qualified 7 14 %
Others 5 10 %
Total 50 100 %
From the above data it is show that, out of 50 respondents surveyed, 52% are
graduates, 24% are post-graduates, 14% are professionally qualified and 10% has
other qualifications. This shows that majority of them are only graduates. So that most
of the working women are well educated.
FIGURE 4.3
EQUCATIONAL QUALIFICATION OF RESPONDENTS
EQUCATIONAL QUALIFICATION
10%
14% Graduate
Post Graduate
52% Professionally Qualified
Others
24%
51 | P a g e
TABLE 4.4
EMPLOYEMENT SECTOR OF RESPONDENTS

Public 14 28 %
Private 22 44 %
Self-employed 12 24 %
Others 2 4%
Total 50 100 %
From the above data it is clear that, out of 50 respondents surveyed, most of the
respondents are working in the private sector that is 44 %, 28 % of respondents are
working in public sector. In total respondents 24 % are self employed and only 4 %
working in other unorganized sector. Majority of the respondents are from the private
sector.
FIGURE 4.4
EMPLOYEMENT SECTOR OF RESPONDENTS
EMPLOYEMENT SECTOR
4%
28%
24%
Public
Private
Self Employed
Others
44%
52 | P a g e
TABLE 4.5
INCOME LEVEL (per annum) OF RESPONDENTS

Upto 2 Lakh 19 38 %
2 to 5 Lakh 17 34 %
5 to 8 Lakh 10 20 %
8 to 12 Lakh 3 6%
12 lakh and above 1 2%
Total 50 100 %
In the above table out of 50 respondents surveyed, 38 % of the respondents have income up
to Rs.2 lakhs p.a, 34 % have income between Rs. 2 lakhs and Rs. 5 lakhs p.a, 20 % have
income between Rs. 5 lakhs and Rs. 8 lakhs p.a, 6 % has income between Rs. 8 lakhs and Rs.
12 lakhs p.a, and the remaining 2% has income above Rs.12 lakhs p.a. Majority of
respondents from upto 2 lakhs and 2 to 5 lakhs income group.
FIGURE 4.5
INCOME LEVEL (per annum) OF RESPONDENTS
INCOME LEVEL (per annum)

2%
6%
Upto 2 Lakh
20% 38%
2 to 5 Lakh
5 to 8 Lakh
8 to 12 Lakh
12 lakh and above
34%
53 | P a g e
TABLE 4.6
FAMILY STATUS OF RESPONDENTS
Nuclear family 39 78 %
Joint family 11 22 %
Total 50 100 %
From the above table show, that out of 50 respondents surveyed, 78% belong to nuclear
families and only 22 % belong to Joint families. Hence, majority of the respondents stay in
nuclear families.
FIGURE 4.6
FAMILY STATUS OF RESPONDENTS
FAMILY STATUS
22%
Nuclear family
Joint family
78%
54 | P a g e
TABLE 4.7
DEPENDENTS STATUS OF RESPONDENTS

Nil 16 32 %
0 to 2 17 34 %
3 to 5 14 28 %
Above 5 3 6%
Total 50 100 %
From the above table it is clear that out of 50 respondents surveyed, 32% of them do not
have any dependents, 34% have up to 2 dependents, 28% have 3 to 5 dependents and 6%
have more than 5 dependents on them.
FIGURE 4.7
DEPENDENTS STATUS OF RESPONDENTS
FAMILY STATUS
6%
32%
28% Nil
0 to 2
3 to 5
Above 5
34%
55 | P a g e
TABLE 4.8
ANALYSIS ABOUT SAVINGS AND INVESTMENT

Importance of savings No of respondents Percentage
Strongly agree 21 42 %
Agree 23 46 %
Neither agree nor disagree 4 8%
Disagree 1 2%
Strongly disagree 1 2%
Total 50 100 %
From the above table it is clear that, indicate that out of 50 respondents surveyed, 88
% of them agree that savings are very important, 8% of them neither agree nor
disagree about the importance of savings and about 4 % of the respondents feel
that it is not important to save.
FIGURE 4.8
ANALYSIS ABOUT SAVINGS AND INVESTMENT
IMPORTANCE OF SAVINGS
2%
2%
8%
Strongly agree
Agree
42%
Neither agree nor

disagree
Disagree
46%
Strongly disagree
56 | P a g e
TABLE 4.9
PROPORTION OF SAVINGS OUT OF INCOME

Percentage of income No of respondents Percentage
saved
0-20 % 18 36 %
20-40 % 19 38 %
40-60 % 10 20 %
60-80 % 2 4%
80-100 % 1 2%
Total 50 100 %
Above table 1indicate that out of 50 respondents surveyed, 36% of them save 0-
20% of their income, 38 % save 20- 40% of their income, 20 % save 40- 60% of
their income, 4% save 60- 80% of their income and 2% save 80-100% of their
income.
FIGURE 4.9
PROPORTION OF SAVINGS OUT OF INCOME
PERCENTAGE OF INCOME SAVED

2%
4%
20% 36%
0-20 %
20-40 %
40-60 %
60-80 %
80-100 %
38%
57 | P a g e
TABLE 4.10
IMPORTANCE OF SAVINGS AND INVESTMENT FOR VARIOUS

PURPOSES
Neither
Not Less Important Very highly
Important
Important Important Nor important
unimportant
Purpose No. % No. % No. % No. % No. %
3 6 7 22 12
For buying
1 property 6% 12% 14% 44% 24%
2 3 4 17 24
For children’s
education and
2 marriage 4% 6% 8% 34% 48%
1 3 5 23 19
For medical
3 expenses 2% 6% 10% 46% 38%
6 18 13 10 3
For travel,
leisure and
4 entertainment 12 % 36% 26% 20% 6%
2 2 3 19 25
For personal
life after
5 retirement 4% 4% 6% 38% 50%
Out of the 50 respondents surveyed, about 68% of them are of the opinion that
savings and investment are important for buying property, 14% are indifferent about
it, 12% feel it is less important and only about 6% feel that savings and investment
are not important for buying property.
Out of the 50 respondents surveyed, about 82 % of them are of the opinion that
savings and investment are important to get their children educated and married, 8%
of them are indifferent, 6% of them feel this purpose is less important and only about
4% of them feel that this purpose is not important.
Outofthe50respondentssurveyed,84%ofthemhavetheopinionthat savingsand
investment are important for the purpose of maintaining health and meeting medical
expenses, nearly 10% of them are indifferent about the same, 6% of them feel this
purpose is less important and less than 2% of them feel that this purpose is not
important.
58 | P a g e
Out of the 50 respondents surveyed, surveyed, 26% of them have the opinion that
savings and investment are important for the purpose of travel, leisure and
entertainment, nearly 26% of them are indifferent about the same, 36% of them feel
this purpose is less important and 12 % of them feel that this purpose is not
important.
Out of the 50 respondents surveyed, nearly 88% of them are of the opinion that
savings and investment are important for the purpose of personal life after retirement,
nearly 6% of them are indifferent about the same, 4% of them feel this purpose is less
important and 4% of them feel that this purpose is not important.
FIGURE 4.10
IMPORTANCE OF SAVINGS AND INVESTMENT FOR VARIOUS

PURPOSES
IMPORTANCE OF SAVINGS AND INVESTMENT

60.00%
50.00%
40.00%
30.00%
Not Important
20.00%
Less Important
10.00%
Neither Important
Nor unimportant
0.00%
Important
Very highly
important
59 | P a g e
TABLE 4.11
MAIN SOURCES OF INFORMATION ABOUT VARIOUS

INVESTMENT AVENUES
Family Members 21 42 %
Friends 20 40 %
Magazines, newspapers, 6 12 %
T.V.,etc
Financial Counselors 2 4%
Self-study 2 4%
Total 50 100 %
Above table indicate that out of 50 respondents surveyed, nearly 2% of them get
information about various investment avenues from their family and friends,
12% of them come to know about the investment avenues from advertisements ,
4% of them get such information from financial advisors and 4 % of them are
self studying for sources of investment.
FIGURE 4.11

INVESTMENT AVENUES
SOURCES OF INFORMATION
4%
4% Family Members
12%
Friends
41%
Magazines, newspapers, T.V.
,etc
Financial Counselors
39% Self-study
60 | P a g e
TABLE 4.12
IMPORTANCE OF AWARENESS ABOUT VARIOUS INVESTMENT

AVENUES
Disagree 1 2%
Neither agree nor disagree 4 8%
Agree 30 60 %
Total 50 100 %
Above table indicate that out of 50 respondents surveyed, 88% of them agree
that it is important to be aware about various investment avenues to make
proper investment decisions, 8% are indifferent about the same and 4% of the
respondents are of the opinion that awareness about all the investment avenues
is not important.
FIGURE 4.12

INVESTMENT AVENUES
IMPORTANCE OF AWARENESS
4% Strongly disagree
4%
12%
Disagree
41%
Neither agree nor
disagree
Agree
39% Strongly agree
61 | P a g e
TABLE 4.13
IMPORTANCE OF AWARENESS ABOUT VARIOUS INVESTMENT

AVENUES
Very high
Low level of Average level High level of
Investment Not aware level of
awareness of awareness awareness
option awareness
No Perce Perce Perce Percen Perce

. ntage No. ntage No. ntage No. tage No. ntage
Bank Fixed 1 3 13 14 19
1 Deposit 2% 6% 26% 28% 38%
4 6 12 12 16
2 PF/PPF 8% 12% 24% 24% 32%
Insurance 1 9 12 16 12
3 Policy 2% 18% 24% 32% 24%
Post Office 7 9 12 7 15
Savings
4 Cert. 14% 18% 24% 14% 30%
Governmen 11 11 11 9 10
t
5 Bonds 22% 22% 22% 18% 20%
Gold and 1 6 9 19 16
6 Silver 2% 12% 18% 38% 32%
Company 14 13 10 8 4
7 Deposits 28% 26% 20% 16% 8%
15 13 12 6 5
Company
8 Debentures 30% 26% 24% 12% 10%
Mutual 12 14 13 6 6
9 Funds 24% 28% 26% 12% 12%
Real 7 12 11 11 9
1 Estate/Prop
0 erty 14% 24% 22% 22% 18%
1 Equity 16 8 11 7 8
1 Shares 32% 16% 22% 14% 16%
Regardingthebankdeposit,38%hadveryhighlevelofawareness,28%ofthemhad
high level of awareness, 26 % of them had an average level of awareness, 6% had low
awareness level and 1% was not aware about bank deposits.
Outofthe50respondentssurveyed,32%ofthemhad veryhighlevelofawareness
regarding PF/PPF, 24% of them had high level of awareness, 24% of them had an
average level of awareness, 12% had low awareness level and 8% was not aware
about PF/PPF.
62 | P a g e
Outofthe50respondentssurveyed,24%ofthemhad veryhighlevelofawareness
regarding insurance policies, 32% of them had high level of awareness, 24% of them
had an average level of awareness, 18% had low awareness level and 2% was not
aware about insurance policies.
Outofthe50respondentssurveyed, 30%ofthemhad veryhighlevelofawareness

regarding post office certificates, 14 % of them had high level of awareness, 24% of
them had an average level of awareness, 18% had low awareness level and 14% was
not aware about government bonds
Out of the 50 respondents surveyed, 20% of them had very high level of
awareness regarding government bonds, 14% of them had high level of awareness,
24% of them had an average level of awareness, 18% had low awareness level and
14% was not aware about government bonds.
awareness regarding gold and silver, 38% of them had high level of awareness, 18%
of them had an average level of awareness, 12% had low awareness level and 2% was
not aware about gold and silver.

awareness regarding company deposits, 16% of them had high level of awareness,
28% was not aware about company deposits.
awareness regarding company debentures, 12% of them had high level of awareness,
30% was not aware company debentures.
awareness regarding mutual funds, 12% of them had high level of awareness, 26% of
not aware about mutual funds.
63 | P a g e
awareness regarding real estate/property, 22% of them had high level of awareness,
14% was not aware about real estate/property.
awareness regarding equity shares, 14% of them had high level of awareness, 22% of
not aware about equity shares.
FIGURE 4.13
IMPORTANCE OF AWARENESS ABOUT VARIOUS

INVESTMENT AVENUES
100.00%
80.00%
Very high level of

awareness
60.00%
High level of
awareness
40.00%
Average level of
awareness
20.00%
Low level of
0.00% awareness
Not aware
64 | P a g e
TABLE 4.14
SIGNIFICANCE OF RISK IN SELECTION OF VARIOUS

INVESTMENT OPTIONS
Significance of Risk No of respondents Percentage
Disagree 3 6%
Neither agree nor disagree 11 22 %
Agree 30 60 %
Total 50 100 %
Out of the 50 respondents surveyed, 10% of them strongly agree that risk is a
significant factor in the selection of investment avenues, 60% of them agree,
22% of them neither agree nor disagree, 6% disagree and 2% of the
respondents strongly disagree that risk is a significant factor in the selection
of investment avenues
FIGURE 4.14
SIGNIFICANCE OF RISK IN SELECTION OF VARIOUS

INVESTMENT OPTIONS
2% Significance of Risk
10% 6%
Strongly disagree
Disagree
22%
Neither agree nor

disagree
Agree
Strongly agree
60%
65 | P a g e
TABLE 4.15
EXTENT OF RISK INVOLVED IN VARIOUS INVESTMENT OPTIONS
Low level of Average High level of Very high

No risk
Extent of risk risk level of risk risk level of risk
Per
Investment Perce Perce cent Perce N Percenta
option No. ntage No. ntage No. age No. ntage o. ge
Bank Fixed
1 Deposit 24 48 20 40 3 6 1 2 2 4
2 PF/PPF 22 44 19 38 7 14 1 2 1 2
Insurance
3 Policy 11 22 17 34 16 32 5 10 1 2
Post Office
4 Savings Cert. 21 42 22 44 5 10 1 2 2 4
Government
5 Bonds 17 34 17 34 10 20 4 8 1 2
Gold and
6 Silver 10 20 16 32 13 26 7 14 3 6
Company
7 Deposits 3 6 9 18 16 32 14 28 8 16
Company
8 Debentures 3 6 6 12 18 36 14 28 9 18
9 Mutual Funds 4 8 7 14 18 36 13 26 9 18
Real
1 Estate/Propert
0 y 3 6 12 24 16 32 9 18 10 20
1
1 Equity Shares 4 8 6 12 9 18 15 30 16 32
Outofthe50respondentssurveyed,4%ofthemhavetheopinionthatriskinvolvedin
bank deposits is very high, 2% of them opine that risk is high, 6% feel that there is
average risk involved, 40% feel that risk involved is low and 48% of them feel that
there is no risk in bank deposits.
Outofthe50respondentssurveyed, 2%ofthemhavetheopinionthatriskinvolved
in PF/PPF is very high, 2% of them opine that risk is high, 14% feel that there is
there is no risk in PF/PPF.
insurance policies is very high, 10% of them opine that risk is high, 32% feel that
66 | P a g e
there is average risk involved, 34% feel that risk involved is low and 22% of them
feel that there is no risk in insurance policies.
post office deposits is very high, 2% of them opine that risk is high, 10% feel that
there is average risk involved, 44% feel that risk involved is low and 42% of them
feel that there is no risk in post office deposits.
government bonds is very high, 8% of them opine that risk is high, 20% feel that there
is average risk involved, 34% feel that risk involved is low and 34% of them feel that
there is no risk in government bonds.
gold and silver is very high, 14% of them opine that risk is high, 26% feel that there is
there is no risk in bank gold and silver.
Outofthe50respondents surveyed,16%ofthemhavetheopinionthatriskinvolved
in company deposits is very high, 28% of them opine that risk is high, 32% feel that
there is average risk involved, 18% feel that risk involved is low and 6% of them feel
that there is no risk in company deposits.
Outofthe50respondents surveyed18%ofthemhavetheopinionthatriskinvolved
in company debentures is very high, 28% of them opine that risk is high, 36% feel
that there is average risk involved, 12% feel that risk involved is low and 6% of them
feel that there is no risk in company debentures.
in mutual funds is very high, 26% of them opine that risk is high, 36% feel that there
there is no risk in mutual funds.
in real estate/property is very high, 18% of them opine that risk is high, 32% feel that
there is average risk involved, 24% feel that risk involved is low and 6% of them feel
that there is no risk in real estate/property.
in equity shares is very high, 30% of them opine that risk is high, 18% feel that there
there is no risk in equity shares.
67 | P a g e
FIGURE4.15
EXTENT OF RISK INVOLVED IN VARIOUS INVESTMENT OPTIONS
100%
90%
80%
70%
60%
Very high
level of risk
High level of
50% risk
Average level
of risk
40% Low level of
risk
30%
20%
10%
0%
68 | P a g e
TABLE 4.16
FINANCIAL PLANNING UNDERTAKEN
Significance of Risk No of respondents Percentage
Yes 43 86 %
No 7 14 %
Total 50 100 %
Above table show that,Out of the 50 respondents surveyed, 88% of them undertook financial
planning whereas 12% did not do financial planning.
FIGURE4.16
FINANCIAL PLANNING UNDERTAKEN
FINANCIAL PLANNING
14%
Yes No
86%
69 | P a g e
TABLE 4.17
EXTENT OF FINANCIAL PLANNING

Extent of financial planning No of respondents Percentage
Very low 3 7%
Low 4 9%
Neither Low or high 14 33 %
High 18 42 %
Very High 4 8%
Total 43 100 %
As per above table, out of the 43 respondents, who undertook financial planning, 7% of them
did financial planning to a very low extent, 9% of them did to low extent, 33% did financial
planning to an average extent, 42% did financial planning to a high extent and 8% undertook
financial planning to a very high extent.
FIGURE4.17

8% 7%
Very low
9%
Low
Neither Low or high
43% High
33%
Very High
70 | P a g e
TABLE 4.18

Extent of
75%to 100
Financial Nil Upto25% 25% to 50% 50%to 75%
%
planning
Investment Perce Perce Perce Perce Percen
option No. ntage No. ntage No. ntage No. ntage No. tage
Bank Fixed
1 Deposit 6 12 26 52 12 24 5 10 1 2
2 PF/PPF 24 48 19 38 4 8 1 2 0 0
Insurance
3 Policy 22 44 20 40 6 12 2 4 0 0
Post Office
4 Savings Cert. 33 66 11 22 4 8 2 4 0 0
Government
5 Bonds 14 39 7 14 2 4 2 4 0 0
Gold and
6 Silver 14 28 21 42 9 18 5 10 1 2
Company
7 Deposits 41 82 5 10 2 4 1 2 0 0
Company
8 Debentures 44 88 3 6 2 4 2 4 1 2
9 Mutual Funds 39 78 7 14 3 6 1 2 1 2
Real
Estate/Propert
10 y 34 68 7 14 4 8 2 4 2 4
11 Equity Shares 37 74 7 14 2 4 2 4 2 4
Outofthe50respondents surveyed,12%didnotinvestinbankfixeddeposits,52%
of them invested up to 25% of their savings in bank fixed deposits, 24% of them
invested 25%-50% of their savings in bank fixed deposits, 10% of them invested 50-
75% of their savings in bank fixed deposits and 2% of them invested 75-100% of their
savings in bank fixed deposits.
48% did not invest inPF/PPF, 38%oftheminvestedupto 25%oftheir savings in
PF/PPF, 8% of them invested 25%-50% of their savings in PF/PPF, 8% of them
invested 50-75% of their savings in PF/PPF and no one of them invested 75-100% of
their savings in PF/PPF.
Outofthe50respondentssurveyed,44%didnotinvestininsurancepolicies,40%of
them invested up to 25% of their savings in insurance policies, 12% of them invested
71 | P a g e
25%-50% of their savings in insurance policies, 4% of them invested 50-75% of their

savings in insurance policies and no one of them invested 75-100% of their savings in
insurance policies.
Outofthe50respondentssurveyed,66%didnotinvestinpostofficedeposits,22%
of them invested up to 25% of their savings in post office deposits, 8% of them
invested 25%-50% of their savings, 4% of them invested 50-75% of their savings and
no one of them invested 75-100% of their savings in post office deposits.
Outofthe50respondentssurveyed,78%didnotinvestingovernmentbonds,14%of
them invested up to 25% of their savings in government bonds, 4% of them invested
25%-50% of their savings, 4% of them invested 50-75% of their savings and no one
of them invested 75-100% of their savings in government bonds.
Outofthe50 respondents surveyed,28% did not invest ingoldand silver, 42% of
them invested up to 25% of their savings in gold and silver, 18% of them invested
25%-50% of their savings, 10% of them invested 50-75% of their savings and 2% of
them invested 75-100% of their savings in gold and silver.
Outofthe50respondentssurveyed,82%didnotinvestincompanydeposits,10%of
them invested up to 25% of their savings in company deposits, 4% of them invested
25%-50% of their savings, 2% of them invested 50-75% of their savings and less than
no one of them invested 75-100% of their savings in company deposits.
Outofthe50respondentssurveyed,88%didnot invest incompanydebentures,6%
of them invested up to 25% of their savings in company debentures, 2% invested
them invested 75-100% of their savings in company debentures.
Outofthe50respondentssurveyed,78%didnotinvestinmutualfunds,14%ofthem
invested up to 25% of their savings in mutual funds, 6% of them invested 25%-50%
of their savings, 2% of them invested 50-75% of their savings and 2% of them
invested 75-100% of their savings in mutual funds.
Outofthe50respondentssurveyed,68%didnotinvestinrealestate/property,14%of
them invested up to 25% of their savings in real estate/property, 8% of them invested
them invested 75-100% of their savings in real estate/property.
Outofthe50respondentssurveyed,74%didnotinvestinequityshares,14%ofthem
invested up to 25% of their savings in equity shares, 4% of them invested 25%-50%
72 | P a g e
of their savings, 4% of them invested 50-75% of their savings and 4% of them

invested 75-100% of their savings in equity shares.
FIGURE 4.18
100%
90%
80%
70% 75% to 100%

50% to 75%
60%
25 % to 50%
Upto 25%
50%
Nil
40%
30%
20%
10%
0%
73 | P a g e
TABLE 4.19
FREQUENCY OF INVESTMENTS
Frequency of investments No of respondents Percentage
Monthly 20 40 %
Quarterly 13 26 %
Half-yearly 7 14 %
Annually 11 22 %
Total 43 100 %
From the above table it is clear that, 40% of them invested on a monthly basis, 26% invested
on a quarterly basis, 13% invested on half-yearly basis and 21% of them invested on an
annual basis.
FIGURE 4.19
FREQUENCY OF INVESTMENTS
Frequency of investments
22%
39%
Monthly
Quarterly
14% Half-yearly
Annually
25%
74 | P a g e
TABLE 4.20
IMPORTANCE OF FACTORS WHILE INVESTING
Very high High Average Less Very less

IMPORTANCE
importance importance importance importance importance
OF FACTORS
Investment Perce Perce Perce Perce Percen

option No. ntage No. ntage No. ntage No. ntage No. tage
Safety of
principal 29 58 11 22 8 16 2 4 0 0
Return on
investment 25 50 17 34 6 12 2 4 0 0
Liquidity 20 40 14 28 11 22 2 4 2 4
Out of the 50 respondents surveyed, 58% of them gave very high importance
to safety of principal amount while investing, 22% gave high importance,

16% gave average importance, 4% gave less importance and less than 1%
gave very less importance to safety of principal amount while taking
to return on investment while investing, 33% gave high importance, 12%

gave average importance, 4% gave less importance and less than ½ %
gave very less importance to return on investment while taking
to liquidity of investments while investing, 28% gave high importance,

22% gave average importance, 4% gave less importance and less than 4%
gave very less importance to liquidity of investments while taking
75 | P a g e
FIGURE 4.20
IMPORTANCE OF FACTORS WHILE INVESTING
100.00%
80.00%
Very unlikely
60.00% Somewhat
neutral
40.00%
likely
Very likely
20.00%
0.00%
Safety of principal Return on Liquidity
investment
76 | P a g e
TABLE 4.21
ADVICE OF FAMILY MEMBERS IN INVESTMENT DECISIONS
Advice No of respondents Percentage

taken
Yes 45 90 %
No 5 10 %
Total 50 100 %
From the above table it is clear that, Out of the 50 respondents surveyed , 90% of them
took advice from their family members while taking investment decisions and
only 10% did not take advice from family members while making investment
decisions.
FIGURE 4.21
ADVICE OF FAMILY MEMBERS IN INVESTMENT DECISIONS
Advice taken
Yes No
10%
90%
77 | P a g e
TABLE 4.22
REVIEW OF INVESTMENTS ON REGULAR BASIS
Advice No of respondents Percentage

taken
Yes 39 78 %
No 11 22 %
Total 50 100 %
From the above table it is clear that, Out of the 50 respondents surveyed , 78% of them
review investments on a regular basis and 22% of the respondents do not review
their investments on a regular basis.
FIGURE 4.22
REVIEW OF INVESTMENTS ON REGULAR BASIS
REVIEW OF INVESTMENTS
90
80
70
60
50
40 REVIEWOF INVESTMENTS
30
20
10
0
Yes No
78 | P a g e
TESTING THE HYPOTHESIS
H0 : There is no significant relationship between investment pattern and age of the
respondent.
H1 : There is a significant relationship between investment pattern and age of the

respondent
For testing the hypothesis, here we are using Chi- Square method.
Various Investment Avenues

Post
Office Company
Saving Debentures
s Cert. /Company
Bank and Deposits Real
Fixed Insura Gover Gold and Estate/
Deposi PF/ nce nment and Equity Mutual Proper
Age t PPF Policy Bonds Silver Shares Funds ty Total
2 6 1 2 8 5 3 1 28
20-30
0 3 1 3 1 3 1 1 13
30-40
1 1 0 3 1 0 0 0 6
40-50
50
and 1 1 0 0 1 0 0 0 3
above
4 11 2 8 11 8 4 2 50
Total
79 | P a g e
O E O-E (O-E)2 (O-E)2 /E

5 2.24 2.76 7.6176 3.400714
4 6.16 -2.16 4.6656 0.757403
3 0.56 2.44 5.9536 10.63143
6 4.48 1.52 2.3104 0.515714
2 6.16 -4.16 17.3056 2.809351
5 4.48 0.52 0.2704 0.060357
4 2.24 1.76 3.0976 1.382857
1 1.12 -0.12 0.0144 0.012857
2 1.04 0.96 0.9216 0.886154
2 2.86 -0.86 0.7396 0.258601
1 0.52 0.48 0.2304 0.443077
1 2.08 -1.08 1.1664 0.560769
1 2.86 -1.86 3.4596 1.20965
3 2.08 0.92 0.8464 0.406923
1 1.04 -0.04 0.0016 0.001538
1 0.52 0.48 0.2304 0.443077
2 0.48 1.52 2.3104 4.813333
1 1.32 -0.32 0.1024 0.077576
0 0.24 -0.24 0.0576 0.24
1 0.96 0.04 0.0016 0.001667
1 1.32 -0.32 0.1024 0.077576
0 0.96 -0.96 0.9216 0.96
0 0.48 -0.48 0.2304 0.48
0 0.24 -0.24 0.0576 0.24
1 0.24 0.76 0.5776 2.406667
1 0.66 0.34 0.1156 0.175152
0 0.12 -0.12 0.0144 0.12
0 0.48 -0.48 0.2304 0.48
1 0.66 0.34 0.1156 0.175152
0 0.48 -0.48 0.2304 0.48
0 0.24 -0.24 0.0576 0.24
0 0.12 -0.12 0.0144 0.12
34.86759
50 50
80 | P a g e
2  O E

E
2
= 34.86759
E= Row total * Column Total

Grand Total
Degree of freedom= (r-1)(c-1)
i.e, (8-1)(4-1)= (7 * 3)= 21
Level of Significance = 5% or .05
Table Value :- 32.671
Hence the calculated value is greater than the table value, we accept the null
hypothesis (H0) and there is a significant relationship between the investment pattern and
age of the respondent.
81 | P a g e
CHAPTER 5
FINDINGS, SUGGESTIONS AND CONCLUSION
82 | P a g e
5.1 FINDINGS OF THE STUDY

Major findings of the study are:
1. Majority of respondents were in the age-group of 20-30 and 30-40 years. Hence age.
Hence, it may be said that nearly 83% of the respondents belong to the age-group of
20-40 years who determine the investment preferences and the investment pattern.
2. Majority of respondents were married. Hence a major number of respondents

belonged to married category.
3. All of the respondents were graduated, post graduated and professionally qualified.
Hence all the respondents had enough knowledge and educational qualification to
take rational decision regarding their income, savings and investment.
4. Majority of respondents were employed in private sector. Only a small percentage

working in public sector. As there exists uncertainty regarding income and job
security in the private sector, majority of the respondents may not be willing to invest
in high-risk investments.
5. The respondents majority have income ranging upto 5 lakhs per anum. This shows
that the investment pattern is highly influenced by the respondents having incomes
below Rs.5lakhs p.a.
6. The most of the respondents from nuclear families, this could be attribute to
investment decision of women.
7. Out of the surveyed respondents, Majority of them had two or less than two
dependents and only some of them had three or more than three dependents. The main
reason for less number of dependents could be due to the nuclear type of families. this
also could be the attribute to investment decision of women.
8. A very large majority of the respondents felt the need and importance of savings and
investment to attain various short-term, medium-term and long term goals of life.
9. The proportion of savings out of income varied among the respondents, Majority of
respondents investing 0-40% of their income.
83 | P a g e
10. The respondents saved and invested in various avenues for various purposes and these
purposes in the order of their importance is,
Majority of respondents feel the purpose of their savings is for buying

property, for personal life after retirement, for children‟s education and
marriage and for their medical expense are very important.
Only of small percentage of respondents giving importance to savings for
travel and entrainment.
11. Majority of the respondents get major information about various investment avenues
from their family members, relatives and friends in addition to other sources like
advertisements and financial advisors.
12. During research it was found that the awareness level about various investment
avenues varied among the respondents. Majority of respondents had a reasonably
good awareness about Bank deposits, most respondents were aware about gold and
silver, majority were aware about PF/PPF, majority were aware about Insurance
policies, large share of respondents were aware about Post office deposits, above
average of respondents were aware about Real estate/property, moderate of
respondents were aware about Government bonds, average were aware about equity
shares, below average of them were about Mutual funds and nearly only a small
percentage about Company deposits and debentures.
13. Majority of the respondents are of the opinion that the risk involved in various
investment options has great level of significance in investment decision-making.
14. During research it was found that the feel of respondents about risk level of various
investments options the bank deposit, PF/PPF, Insurance policy, Post office saving
certificate and Government bonds were as no risk or lower risk options. And majority
of respondents feel company deposit, debentures, mutual funds, real estate and equity
shares were had high level of risk.
15. It was found that most of the respondents undertook financial planning to achieve
their financial goals and the extent of financial planning are average and high.
16. During the study, it was found that respondents preferred to invest in traditional
investment avenues such as Bank deposits, PF/PPF, Post office deposits, Insurance
policies, Gold/Silver and Real estate/property. Even those respondents who invested
84 | P a g e
in other avenues such Government bonds, Company deposits/debentures, mutual

funds and equity shares invested less than 25% of their savings.
17. Among the respondents, Majority of them invested on a monthly and Quarterly basis
and rest of respondents invested half yearly and annually.
18. Safety of principal amount invested and the returns from them were given great
importance while choosing an investment avenue followed by liquidity of such
investments.
19. Majority of the respondents took guidance and advice from their family members
while taking investment decisions.
20. Most of the respondents reviewed their investments on a regular basis.
5.2 SUGGESTIONS OF THE STUDY

From the present study, the investigator felt the following suggestions:-
1. Women should undertake proper financial planning. They should set up their short-
term, medium-term and long-term financial goals. Keeping these goals in mind and
taking into consideration their income, expenditure and savings (current and future),
they should make investment decisions to attain these goals.
2. Women should collect information about various investment avenues through
newspapers, magazines, websites, financial advisors, friends, relatives and other
sources. After collecting information, they should analyze these investments by
studying the average returns on them in the past few years. The merits and demerits of
each investment avenue should be understood properly.
3. Women may take the help of trusted financial advisors to plan and implement their
investment portfolio.
4. It is necessary to review and revise the portfolio at regular intervals. The main
objective of portfolio revision is to maximize the returns for a given level of risk or
85 | P a g e
minimize the risk for a given level of return. The ultimate objective of portfolio
revision is maximization of returns and minimization of risk.
5. Financial organizations should create awareness programmes to educate women about
the different investment products available. They should spread awareness through
different means of communication such as newspaper, magazines, television, radio
and internet.
6. Government should undertake innovative projects especially for women where
women can use their knowledge, skill and also their financial resources.
7. Special investment schemes should be introduced to meet the financial needs of
women which will guarantee risk-free return to them.
8. Schools and Colleges should impart knowledge on financial skills and acumen to the
students so as to inculcate the habit of savings in the students.
5.3 CONCLUSION OF THE STUDY
Majority of the respondents were between 20 years and 40 years of age. Hence, it may be
concluded that the findings represent the investment pattern of the educated working women
from the younger age group. This will help in knowing the perception, attitude and behaviour
of women in the current scenario which can go a long way in devising measures to mobilize
their savings into productive activities for the economic development of our country.
Marriage is a life-changing decision for an individual, more so in the case of a woman in
India. Women in India try to balance their professional and personal responsibilities. It is a
challenging task. As the majority of the respondents belonged to the married category, their
investment decisions were mostly influenced by responsibilities and duties relating to their
children such as their education. On account of additional responsibilities, married women
also tend to take fewer risks as compared to unmarried women. Hence, it was found that
married women preferred to invest in safe avenues such as Bank fixed deposits, PF/PPF, Post
office deposits and insurance policies.
86 | P a g e
Majority of the respondents were employed in the private sector. Due to

uncertainty of employment and earnings in the private sector, the respondents may not be
willing to invest in high-risk investment avenues. This could be one of the reasons for the low
risk taking capacity of the respondents. Since all the respondents had attained at least a
graduate degree, it can be said that they had the ability and rationality to take informed
decisions regarding the investment of their savings. However, family members, especially
male members, played an important role in the investment decision-making process of
women. The main reason could be the dominating role played by male members of the
family. Other reasons may be the knowledge possessed by them and the faith and confidence
in their abilities. Lack of sufficient time for investment decision-making is also one of the
reasons for the influence of male family members on the investment decisions of women. On
an average, majority of the respondents could save in the range of 20% to 40% of their
income. Around 20% of the respondents could save more than 50% of their income. If the
proportion of savings increases, they may be willing to invest in high-risk securities like
equity shares and mutual funds. The respondents invested in various investment instruments
for meeting various short-term, medium-term and long-term goals. The main reasons for
saving and investing in the order of priority were having a good personal life after retirement,
for meeting health and medical-related expenses, for children‟s education and marriage, for
buying house property and for travel, leisure and entertainment.
A high percentage of the respondents had good level of awareness regarding

investment avenues such as Bank Deposits, Gold and silver, Post-office Deposits, PF/PPF,
Insurance policies, Government bonds, real-estate as compared to that of Mutual funds,
Company Deposits, Debentures and Equity shares of companies.
Majority of the respondents (88%) undertook financial planning to some

extent to achieve their financial goals. This indicates the need and importance of financial
planning. A proper setting up of goals, understanding of various avenues (pros, cons and tax-
benefits) and then allocating funds in different investment instruments to maximize returns
and minimize risk is absolutely necessary to lead a comfortable life. Respondents preferred to
invest in traditional avenues like Bank deposits, PF/PPF, Post office deposits, Insurance
policies, metals like gold and silver and real-estate. Most of these avenues are low-risk and
low return investment avenues. Even those respondents who invested in high risk avenues
like equity shares, mutual funds, company deposits and debentures invested less than 25% of
their savings. Therefore, it may be concluded that people prefer safety of investment to high
87 | P a g e
returns while taking investment decisions. Majority of the investors invested on a monthly
basis. Therefore, investment schemes like recurring deposits and SIP schemes will attract
many investors.
Based on the study, it may be said that demographic factors like age, income and marital
status influence the investment pattern of women. Women also had a low risk-taking
aptitude. Hence, while designing investment products, especially for women, these factors
should be kept in mind.
88 | P a g e

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A STUDY OF THE INVESTMENT PATTERN AMONG EMPLOYED WOMEN

A STUDY OF THE INVESTMENT PATTERN AMONG EMPLOYED WOMEN WITH

The status of women further deteriorated between 11 th century and 18 th Century.

Modern India offers better opportunities of education, employment, freedom of

1.1 NEED AND SIGNIFICANCE OF THE STUDY

When women become empowered financially, their access to financial resources

At this scenario in order to know more about investment portfolios of educated

1.2 STATEMENT OF THE PROBLEM

1.3 DEFINITIONS OF THE KEY TERMS

 Investment:- An investment is an asset or item acquired with the goal of

1.4 OBJECTIVES OF THE STUDY

The objectives of the present study are:-

1. To study the awareness level of educated working women regarding various

2. To analyze the investment pattern followed by educated working women with

3. To evaluate the risk-bearing capacity of the working women while making

4. To examine the influence of male family members of educated working women in

5. To analyse the relationship between demographic factors (age, income, marital

6. To find out the scope of new investment pattern in educated women.

H0 : There is no significant relationship between investment pattern and age of the

H1 : There is a significant relationship between investment pattern and age of the

1.6 RESEARCH METHODOLOGY

1.6.1 RESEARCH DESIGN

1.6.2 SAMPLE DESIGN

1.6.3 TYPES OF DATA

1.6.4 INTERPRETAION OF DATA AND STASTICAL TOOLS USED

1.6.4.1 PERCENTAGE ANALYSIS

Percentage = (Number of respondents/Total number of respondents)* 100 .

1.6.5. DURATION OF THE STUDY

1.7 SCOPE OF THE STUDY

1.8 LIMITATIONS OF THE STUDY

Due to logistical difficulties, scope of the research is limited to Pathanamthitta

district and its semi urban region.

It isalso limitedtothestudyofthe investment patternofeducatedworkingwomen

purpose of this research.

1.9 CHAPTER SCHEME

The report of the study is arranged in the following chapters:

CHAPTER 2: REVIEW OF RELATED LITERATURE

CHAPTER 3: THEORETICAL OVERVIEW

CHAPTER 4: ANALYSIS & INTERPRETATION

CHAPTER 5: FINDINGS, SUGGESTION AND CONCLUSIONS

Priya Vasagadekar (2014) in her study „WOMEN WORKING IN DIFFERENT

R Ganapathi (2014) in his study „THE AWARENESS LEVELS ABOUT INVESTMENT

Preeti Singh (2010) in her book on „INVESTMENT MANAGEMENT‟ has provided an

Anju K J and Anuradha P S (2015) in their study, „THE INVESTMENT BEHAVIOUR

Steven G. Blum (2014) has explained in his book, „NEGOTIATING YOUR

Steelyana W, Evi (May 18, 2012), WORKING WOMEN AND INVESTMENT

Juwairiya P.P (2014) studied the „FINANCIAL LITERACY AND INVESTMENT

N Dharini et al (2014) in the study „INVESTMENT PATTERN OF WORKING WOMEN

Yogesh P Patel et al (2012) made „A STUDY TO UNDERSTAND THE BEHAVIOURAL

C Sathiyamoorthy et al (2015) in his study „THE INVESTMENT PATTERN OF

Heena Kothari (2014) in his study „THE BEHAVIOR OF INVESTORS TOWARDS

Theoretical overview is supplies a strong background to the study. It is a strong

3.1 ROLE AND STATUS OF WOMEN IN INDIA

3.2 EMPOWERMENT OF INDIAN WOMEN

Empowerment of women is recognized as responsibility of Governments and International

Empowerment of women is recognized as responsibility of Governments and International

Meaning of Women Empowerment:

3.2.1 INDICATORS OF WOMEN EMPOWERMENT

COMPONENTS OF WOMEN EMPOWERMENT:

Four components of women‟s empowerment are identified:

4.5 TYPES OF EMPOWERMENT

WOMEN EMPOWERMENT IN INDIA

The principle of gender equality is enshrined in The Preamble, Fundamental Rights,