1.

INTRODUCTION

Investment activities undertaken by the people are considered as essential

prerequisite for capital formation and faster growth of an economy, especially in
case of developing economy like India. Investment may be defined as an
employment of funds with the aim of achieving additional growth, in value or
additional income. Investment refers to the accumulation of some kind of asset
with hope to get a return from it. Investment is necessary to promote capital
formation in the economy, as capital formation involves making of more capital
goods which are used for further production. It increases productivity of the
workers, which results in higher wages leading to higher standard of living and
more savings, which can be used for further investment. Capital formation also
includes human capital which means the stock of people equipped with education,
skills, good health etc. It has been realized that human capital formation is
necessary for increasing production and productivity along with physical capital
formation. Investment in shares, stocks, debentures etc. may be considered as
financial capital formation. Thus in order to promote physical, human and
financial capital formation, investment in the economy has to be increased through
higher level of savings of both men and women in the country. Women constitute
above half of the world population. Their contribution is about 55% including their
unpaid economic activities. Hence there is every reason that women should plan an
equal role in economic decision making. The 1994 world survey on the role of
women in development reported that the ratio of women to men is economically
active population has almost doubled over the last 20 years. With the increase in
role of women in the economic activities and by nature, women are being
identified as a better saver than man, the decision making process by women for
investment purpose gains its importance.

Employed women have a greater propensity to save and invest because of

their independent earning power. They are also motivated by the investment

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behaviour of their colleagues in their work place. They are supposed to be risk
adverse, safety oriented and guided by certainty of returns. With increasing level
of knowledge and awareness, Women are slowly participating in the risk
investment portfolios and they are becoming analytic in their investment
behaviour. The biggest motivation of the Indian working women is need  the sheer
economic necessary with growing rate of inflation. To help the family by adding
some major resources women are working, which facilitate to meet the financial
needs and reduces the financial stress. But it is the best aid only to solve the
temporary problems. To get a permanent solution women should be aware of
financial services offered by both government are private financial institutions to
save their hard earned income. Employment not only makes the women
economically independent but also facilitates to be a sound decision maker 
regarding  savings and investment. The present study is make to know saving
habits, savings pattern and problems faced by working women.

1.1 SIGNIFICANCE AND SCOPE OF STUDY

In the current scenario the term investment has greater significance.

Investment is essential for the growth of nation. There are a lot of investment
alternative available today because of this reason it is difficult to make an
investment decision. Some may yield regular profit. Some may not, some may
have risk, some may not. It is up to the investor which investment should be
selected by evaluating each investment alternatives. He should select those which
give him maximum satisfaction. As research studies in the field of investment
pattern of working women have remained limited, an attempt has been made to
study the investment pattern of working women in the present work.The present
study is conducted to find out the investment habit of working women and the
factor considered before selecting the investment schemes by women. The scope
of the study was limited to working women situated in Nattika Panchayath. The
study was conducted on 40 respondents.

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1.2 STATEMENT OF THE PROBLEM

The present study aims to put on some knowledge about key factors that influence
investment behaviour and ways these factors impact investment risk tolerance and
decision making process among women and different age groups in relation with
marital status. The individuals may be equal in all aspects, but their behaviour is
different in same situation. Earlier studies did research but they did this only
gender wise, in this study we are trying to find out the factors which affects
individual investment decisions by considering both age and marital status wise.
Hence keeping this in mind, the present study is an attempt to find out Factors
which affects individual investment decision and Differences in the perception of
Investors in the decision of investing on basis of Age and on the basis of marital
status.

1.3 OBJECTIVES OF THE STUDY

Every study is made for achieving certain objectives. The following are the
objectives behind the study.

1. To measure the savings and its pattern on working women.

2. To study the working women’s attitude for investment.
3. To find out the percentage of income spend by working women for the
investment purpose.

1.4 RESEARCH METHODOLOGY

For the purpose of the study both primary and secondary data were used.

Primary data were collected by the way of structured questionnaire and by direct
interview with the respondents.

Secondary data were collected from published books, journals, websites, previous
studies and reports.

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Tools for analysis: Simple statistical tools like ratios and percentages are used for
analysing data. Graphs and charts are used for presenting the data in more
understandable manner.

1.5 LIMITATIONS OF THE STUDY

1. Only 40 respondents were selected for the purpose of study.

2. There may be biased information since the study is in personal nature.

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 REVIEW OF LITERATURE

S.Hema (2007) in her M.Phil dissertation entitled “A Study on Investment

Behaviour of Women Investors in Palani” analysed the various investment avenues
available to women investors. Among the various avenues they prefer only Bank
Deposits. The major reason for opting this investment is owing to safety measures.
Next to bank deposits, life insurance schemes and gold are the other investment
avenues. Though some respondents are interested in investing in shares they do not
have awareness towards this. Similar is the case as regarding mutual funds. Thus,
from the study, it is identified that the Bank Deposits have been prefer by the
women investors.

Narayana.D.L (2007) in his major research work titled “Income, Saving

and Investment of Household Sector in Chittor District” has attempted to review
the economy of a select district. He examined the asset structure of household
classifying the entire range of assets into physical and financial assets. He found
that the average investment in case of self employed, farmer households was
greater than that of business people. The Investment in farm assets decreased when
the education level increased, at the same time the investment in consumer
durables increased. Rural household gave importance to precious metals followed
by bank deposits and chit funds. He pointed out that more than 35 per cent of the
rural households were practicing negative savings and 65 per cent were doing
positive savings.

L.Krishnaveni (2007) in her study titled “Savings Behaviour in India” she

has suggested a different form of financial savings for individuals. A systematic
Investment Plan (SIP) is gaining popularity among the salaried people. They may
deposit their savings either in the form of short-term or long-term deposits. The
retired employees and the senior citizens may invest in public sector banks as they
have been offering an additional rate of interest as an incentive to senior citizens.
The financial savings have more liquidity than the physical saving.

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 C.Krishna Moorthy (2007) in his article titled “A Study on Investment
Pattern and Awareness of the Salaried Class Investors in Nilgiris District” an
attempt has been made by the researcher to study the profile and awareness of
salaried Please purchase PDF Split-Merge on www.verypdf.com to remove this
watermark. 39 class investors. Among the identified 13 investment avenues, all the
investors recognized bank deposits followed by insurance products which were
known to 81 per cent of the sample investors. Almost, equal number of sample
investors recognized Provident Fund and PPF investments, 63 per cent of the
investors were familiar with postal savings and deposits. 42 per cent of investors
were aware of Gold and Jewellery investment and 38.2 per cent of the sample
investors had knowledge about investment in chit fund.

V.Sachithanantham et.al. (2007) in their article titled “Investors

Perception towards Capital Market Reforms in India” an attempt has been made to
study the relationship between capital market reforms and amount of money
invested by the investors. Normally, capital market reforms have definite influence
over the investment pattern of investors. But, investors perception regarding
capital market reforms would clearly indicate whether these reforms have positive
or negative influence over investors‘ investments at the capital markets. From the
analysis, it is concluded that educative and attractive reforms are statistically
significant but have negative relationship with money invested at the capital
markets.

N.Yesodha Devi and V.S.Kanchana (2008) in their article titled “A Study

on Investment Behaviours of Salaried Persons in Coimbatore City” stated that the
response of the salaried income group towards various savings schemes and
investment is poor. Their intention is tax savings and for this, their preferences are
provident fund and life insurance policies. Steps should be taken to create
awareness among the investors about other savings schemes and investment
avenues. The advertisements for various investment schemes are not adequate as a

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majority of the respondents aware of the various schemes only through friends and
relatives. Therefore it is recommended to various financial institutions to adopt a
broad advertising strategy in order to enable the investors to know the details of
the various investment schemes. Majority of the respondents have not preferred to
invest their savings in UT1 and Mutual funds which are the latest investment
schemes and hence the government should take appropriate steps to persuade the
investors to invest in the above schemes.

S.Kalavathy (2009) in her work titled “A Study on the Savings and

Investment Behaviour of Salaried Persons” stated that the current study is divided
into two sections. The first section elucidates the awareness of savings and
Investment modes and factors influencing the savings and investments, the second
section discusses on their preferences, perceptions and satisfaction towards the
savings and investment avenues. It has been found that with the proportion of
population, the working age group of 15-64 years is also going to increase in
future, the demographic extra savings are also likely to increase. The study shows
growth in real interest rate, growth in per capita income, spread of banking
facilities and the rate of inflation as statistically significant positive influence on
domestic savings.

P. Neelakantan et.al (2011) in their research study “Impact of Risk

analysis in selection of investment avenues- A study on Debt Market Investors”
suggested that investment in Debt Market instruments as become an imperative
choice of the investors with the objectives of return optimization. Uncertainty of
expected returns is a vital part of the investment option in debt market. Variations
in the anticipated returns and actual returns lead to the possible consequences of
the decision related to selection of debt market investment vehicle. Risks in debt
market instruments are poised of the demands that bring variations in the return of
income. Market price and interests play a significant role on the risk associated
with the debt markets which are being influenced by the various internal and
external considerations. Uncontrollable external risks have a greater impact of the

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volatility of returns on the investment vehicles and they are of systematic in
nature..

Dr. Aparna Samudra and Dr. M. A. Burghate (2012) in their article“ A

Study on Investment Behaviour of Middle Class Households in Nagpur” identifies
that whether there has been any increase in their savings and the reasons for the
same. It is not only the income of the household that has an immediate bearing on
the investment Please purchase PDF Split-Merge49 preference but also the age
group to which the head of the household belongs that influences the choice of
investment avenues. Data was collected from 300 households. Thus bank deposits
remain the most popular instrument of investment followed by insurance where
post office savings deposits are the third preferred investment option. Thus from
the study, it was found that most of the investors invest in bank Deposits.

V.R.Palanivelu and K.Chandrakumar(2013)examined “the Investment

choices of salaried class in Namakkal Taluk, Tamilnadu, India” with the help of
100 respondents as a sample size and it reveals that as per Income level the of
employees and investment in different avenues. Age factor is also important while
doing investments

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 THEORETICAL FRAMEWORK

Men and women are born equal and both play an important role in the
creation and development of family in particular and society in general. In the
traditional family husband earns for the family and wife maintains it. Her role was
mainly confined to domestic works. She creates life, nurtures, guards and
strengthens it. She plays the role of wife, mother, sister, sister-in-law, daughter,
daughter-in-law, granddaughter etc. She is the transmitter of tradition and the
instrument by which the family culture is preserved. Women’s role which was
confined to domestic areas has now switched over to the other areas where she is
competing with her male counterpart. This is due to the education she is getting,
the women centered policies, programmes of the government and the job
opportunities available to her in the wake of modernization, urbanization,
industrialization, liberalization, globalization etc.

The opportunities available to women paved the way for economic

independence and their involvement in political and social sphere has increased to
a great extent. There were times when the prime role of women was confined to
her household duties. But as times changed, the world realized that her potential
was meant to be explored in various fields. Today’s women is a hard taskmaster,
managing between a homely wife, a shrewd boss, a genuine companion, with such
ease and grace that is remarkably appreciable. The prosperity and growth of a
nation is measured by the status and development of its women as they not only
constitute half of its population, but also influence the growth of the remaining half
of the population. Since time immemorial women are known for juggling and
balancing many roles at a time. The rural sector is of utmost importance to the
Indian economy, not only because of the income generated and the employment
potential of this sector but also because of the limit set by this sector to the growth
of other sectors. The upliftment of the rural economy depends on the mobilization
of savings and their transfer to the enterprising investors.

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 Savings is a habit specially embodied to woman. Even in the past when
women mainly depended on their income. They used to save to meet emergencies
as well as for future requirements. Many forces have contributed to the growth of
the newly emerging middle class working women in India. The socio-economic
liberation of Indian women has itself being a product of, and an instrument in the
change in their lives due to employment. A deep of vital change has taken place in
the economic condition and personal status of women in the recent past. It is
accepted fact now that women have to play a prominent role in the overall
economic development of our nation, as they constitute 50 per cent of the total
population, “when women move forward, the family moves, the village moves,”
claimed Jawaharlal Nehru. It is recognized throughout the world that only when
women are in the mainstream of progress can economic and social development be
possible and meaningful. Freedom depends on economic conditions more than
other reasons. Now, the present women, who is equally employed, through their
education have knowledge about various aspects of investment and as result they
invest in various investment avenues such as shares, debentures, mutual funds and
bank deposits. Indian savings market has been expanding over the period and there
is a steady increase of household savings.

Women are not as active as men when it comes to investing money. They
generally keep themselves away from taking investment decisions, they are well
known for spending money or keeping it idle, rather that investing it for earning
more. Even non-working women are mostly dependent on their spouses for
meeting their day to day expenses. Though to some extend it is true that women
are dependent on their spouses for finance, they should also think about their
future. Women should start thinking and understanding the importance of money,
savings and its investment aspect to avoid critical situations at any stage of their
lives. They need to develop skills to plan for their financial needs. Generally
women tend to keep cash idle rather than investing it. They tend to think that this
“idle cash” can be easily used to meet expenses beauty parlours, jewellery etc.

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However, as an exception few women invest in less risk avenues such as bank
deposits and post office schemes. They generally avoid risky options such as
equities, as they think that it is difficult to understand equity market trends,
patterns and as they volatile in nature.

The challenges and opportunities faced by women today honors some

women of substance, puts forward some social issues and hopes to offer realistic
means towards creation of a gender unbiased society. Women today have scaled
great heights. They are impervious to the traditional beliefs of our society in a non-
defiant but affirming way. They know what they want. They are not apprehensive
in discovering their capacity and carving their own niche in these contemporary
yet conventional times. They know striding a fight balance between personal life
and career is challenge and they learnt to conquer it with grace of savings.

Swearing by the principles of equal opportunities as propagated by the

constitution itself, the role and contribution of women in society at large can never
be completely underlined, however it is articulated. It is imperative today that each
woman investors should understand the role what she plays in society. However,
there is a need to address certain challenges faced generally by women today.
Women investors also prefer Insurance policy because they have to pay only small
amount of money every year and they prefer savings in post office because they
can withdraw their amount at times of necessity. Women in India now participate
in all activities such as education, politics, media, art & culture, service sectors,
science and technology, etc. More investment improves lot of rural women which
creates a“virtuous circle” of better education, improved health and higher income
and women need to be given the right to have more control over productive assets
like land, water and credit.

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INVESTMENT

Meaning:

Investment means purchase of some financial asset that yield a return, which is
proportionate to risk assumed over some future period of time. There are basically
two concepts of investments

 Economic investment that is, an economist’s definition of investment

 Financial investment.

To the economist, investment is the net addition made to the nation’s capital
stock that consists of goods and services in the production process. An addition to
capital stock means an increase in buildings, equipments and inventories. These
capital stocks are used to produce goods and services. Financial investment is the
allocation of money to assets that are expected to yield some gain over a period of
time.

Definitions:

Different authors have defined investment differently. Some of the views are as
follows:-

“Purchase of financial asset that produces a yield that is proportionate to the

risk assumed over some future investment period.” F. Amling.

“By investment is meant an addition to capital such occurs when a new

house is built or a factory is built. Investment means making an addition to the
stock of goods in existence.”

Mrs. John Robinson

“Investment is sacrifice of certain present value for some uncertain future value.”

Sharpe
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CHARACTERISTICS OF INVESTMENT

All investment has the following characteristics

1. Return

An investment is characterized by the expectation of return, investment is made

always with an objective of earning a return. The amount of return depends upon
the maturity period and several other factors. The return may be earned in the form
of dividend or interest or capital appreciation.

2. Risk

The risk in an investment relates to the variability of return. While some

investment like government securities and deposits at the nationalized banks are
almost riskless, other investment like equity shares and real estates have wider
risk.

3. Safety

The safety of investment refers to the certainty of return of initially invested funds.
Capital should be paid back without loss of value and delay.

4. Liquidity

An investment which is easily saleable or marketable is said to be possessing

liquidity. Some investments like company deposits, post office deposits, deposits
under national savings scheme are not marketable. An investment is said to be
highly marketable if (a) it can be transacted quickly (b) the cost of transaction is
less and (c) the price change between two successive transaction is small and
negligible. High marketability ensures relatively easy liquidity and is considered to
be desirable feature of a good investment.

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5. Convenience

By convenience we mean the ease with which the investment can be made and
looked after. The degree of convenience of an investment varies widely one hand
the deposit in a saving bank account can be made easily and it does not require
any“looking after” or maintenance effort on the other hand purchase of a property
involves lot of procedural and legal issue and one has to take special pain to
maintain it.

6. Tax implications

Some investments provides tax benefits and some do not. The tax benefits are of
these types. First there is an initial tax benefit enjoyed at the time of making an
investment. Secondly there is continuing tax benefits on some type of investment.
Dividend on equity shares for example is exempt under section 80 L of income
tax. Thirdly there is terminal tax benefits enjoyed by some type of investment. For
example withdrawal from a public provident fund account is not subject to any tax.

OBJECTIVES OF INVESTMENT

 Income
 Capital appreciation
 Liquidity or marketability
 Safety or security
 Maximization of return
 Minimization of risk
 Hedge against inflation

INCREASING POPULARITY OF INVESTMENT

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Investing has been an activity confined to the rich and business class in the past.
This can be attributed to the fact that availability of investable funds is a
prerequisite to deployment of funds. But today, we find that investment has
become a household word and its very popular with people from all walks of life.
Overall the higher saving rate in early 90’s led to a phenomenal increase in
investment activities. However there has been stagnation in the number of
accounts at National Securities Depository Limited (NSDL), which is the best
measure of the number of participants in the market. Increase in working
population, larger family incomes and consequent higher savings. Provision of tax
incentives in respect of investments in specified channels, increase in tendency of
people to hedge against inflation, availability of large and attractive investment
alternatives, increase in investment related publicity, ability of investments to
provide income and capital gain etc...are the reasons for increasing popularity of
investment.

AVENUES OF INVESTMENTS

The problem of surplus gives rise to the question where to invest. In the
past, investment avenues were limited to real assets, schemes of the post office and
banks. At present, a wide variety of investment avenues are open to the investors
to suit their needs and nature. Knowledge about the different avenues enables the
investors to choose investment intelligently. The following are the various
investment alternatives chosen by the investors :

I. SECURITIES

Equity shares

Equity represents an ownership position in a corporation. It is a residual

claim in the sense that creditors and preference shareholders must be paid as
scheduled before equity shareholders can receive any payment. In bankruptcy
equity holders are in principle entitled only to assets remaining after all prior
claimants have been satisfied. Thus risk is highest with equity shares and so must

15
be its expected return. When investors buy equity shares, then receive certificates
of ownership as proof of their being part owners of the company. The certificate
states the number of shares purchased and their par value.

Preference shares

Preference shares are those which have a preferential right to the payment
of dividend during the life time of the company and a preferential right to the
return of capital when the company is wound up. Preference share is a hybrid
security. It is hybrid because it combines some of the characteristics of debt and
some of equity. In the investment practice, however preference share is basically a
weak corporate security as it has the limitation of bond with few of the advantages.
It does not enjoy strong legal position of a bond when the corporation is required
to pay return to the investor and refund the principal amount at maturity. As the
returns to the holder are discretionary, the corporation is under less compulsion to
pay preference dividend than to pay bond interest because preference share is
merely given the right to receive its specific dividend are paid on the equity.

Debentures

The term debenture is defined as a document under the company’s seal

which provides for the payment of principal sum and interest there on at regular a
intervals which is usually secured by a fixed or floating charge on the company’s
property or undertaking which acknowledges a loan to the company.

Bond

Bond is a long term debt instrument that promises to pay a fixed annual sum
as interest for specified period of time. The basic features of bonds are given
below:

1. Bonds have face value. The bond may be issued at par or at discount.

2. The interest rate is fixed. Sometimes it may variable in case of floating rate
bond.

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3. The maturity date of the bond is usually specified at the issue time except in
case of perpetual bonds.

4. The redemption value is also stated in the bond it may be at par or at premium

5. Bonds are traded in the stock market. When they are traded the market value
may be at par or of premium or of discount. The market value and redemption
value may not be the same.

Warrants

A warrant is a bearer document of title to buy specified number of equity

shares at a specified price. Usually warrants can he exercised over a number of
years. The life periods of warrants are long. Warrants are generally offered to
make the bond or preferred stock offering move attractive. Bonds may bear low
interest rate but the warrants offered along with them help the investor to enjoy
equity appreciation value. Warrants are detachable. The investor can sell the
warrants separately and they are traded in the market.

Govt. Securities

Debt securities issued by the central Govt.,state Govt. and Quasi

governmental agencies are referred to as Govt. securities. They are also known as
gilt edged security. It is a secured financial instrument which guarantees income
and capital but the rate of interest on these securities is relatively lower because of
their high liquidity and safety.

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MONEY MARKET SECURITIES

Money market securities have very short term maturity say less than a year.
Common money market securities are:-

1. Treasury bills

It is a short term money market instrument issued by the central Govt. It has a
maturity period of six months to one year. It is issued at discount and repayable at
par.

2. Commercial Paper

Commercial papers are unsecured promissory notes of short term maturity of

highly credit rated companies. Issued to meet working capital requirement. The
commercial paper is subject to credit rating by and of the recognized credit rating
agencies of India.

3. Certificate of Deposits

Certificates of deposits introduced in June 1989 are essentially securitized short

term time deposits issued by the banks during periods of tight liquidity, at
relatively higher interest rates.

II. DEPOSITS

Deposits is one of the most popular investment avenue opted mostly by

every investor. Deposits earn fixed rate of return. Even though banks deposits have
resemblance to fixed income securities like preference shares, debentures etc. they
are non negotiable instruments. Some of the very common deposits are :-

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Bank Deposits

It is the simple investment avenue opened for the investors. He has to Open
an account and deposit the money. Traditionally the banks offered current account,
saving accounts and fixed deposit. But in the present scenario the popularity of
bank deposits has been decreased due to more attractive returns of other
investment avenues and lower rate of interest offered by banks on deposits.

Post Office Deposits

Like the banks, post office also offers fixed deposit facility and monthly
income schemes. Post office monthly scheme as a popular scheme for the retired.

NBFC Deposits

In recent years, there has been a significant increase in the importance of

non banking financial deposits in the process of financial intermediation. The
NBFC comes under the purview of the RBI. The amendment of RBI Act in
January 1997, made registration for NBFC’s compulsory.

III. TAX SHELTERED SAVINGS SCHEME

Tax sheltered savings scheme are of great importance to the investors in the
tax paying category. The tax sheltered savings scheme offer tax relief to those who
participate in their schemes according to the income tax laws. The important tax
sheltered saving scheme are :-

 Public Provident Fund Scheme

 National Savings Scheme
 National Saving Certificate VIII Series

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IV. LIFE INSURANCE

Life insurance is a contract for payment of a sum of money on the person

assured on the happening of the event insured against. Usually the contact provides
for the payment of an amount on the date of maturity or at specified dates at
periodic intervals or if unfortunate death occurs. Among other things, the contacts
also provide for the payment of premium periodically to the corporation by the
policy holders. Life insurance eliminates risk. One of the attractive features of life
insurance is that it has plans to meet the varied needs of the investor.

V. MUTUAL FUNDS

Mutual funds operated as collective investment vehicles on the principle of

accumulating funds from a large number of investors and then investing in a
diversified manner thus, limiting the risks involved. The process gathered
momentum in view of regulatory protection, fiscal concession and change in
preference of investors. The mutual fund industry in India is governed by SEBI
Regulations 1996, which lay the norms for the mutual funds and its Asset
Management Company. All mutual funds in India are constituted as trusts.

VI. REAL ASSETS

Another very common investment avenue selected by investors are in real

assets some of them include.

Gold and Silver

Today most investors find investing in gold as the most profitable

investment avenue. Gold has gained its popularity due to its increasing prices day
by day. For the last few years, there has been a tremendous increase in the prices
of gold.

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Real Estate

The real estate market offers a high return to the investors. The word real
estate means land and building. The price of real estate has also increased. The
population growth and the exodus of people towards the urban cities have made
the prices to increase manifold.

Second Phase of Indian Financial System- (During 1951- Mid-Eighties)

Financial system during this period is characterized by a) public ownership of

financial institutions b) fortification of financial structure c) protection to investors
d) participation of financial institutions in corporate management. The public
ownership of financial institutions were done through the nationalization of RBI,
SBI, LIC, GIC, banks and the introduction of UTI and DFI. Fortification of the
structure of financial institutions were done by introducing number of development
financial institutions such as IFCI, SFC, ICICI, IDBI, SIDCs, IIBI etc. Further for
the purpose of fortification, Banks diversified their forms of financing to that of
term lending, and underwriting of new issues of corporate securities. They also
extend their financial coverage to small and medium industries, exports,
agriculture etc. Indian financial system is also based on various laws with a view
to protect the interest of the investors, stakeholders, and managers. Every element
in the financial system was controlled by various laws such as Companies Act
1956 (amended in 2013),Capital issues and Control Act(1947),Securities contract
and Regulation Act (1956),Monopoly Restrictive Trade Practices Act(1970),
Foreign Exchange Regulation Act (1973), Securities Exchange Board of India
(1988) etc. and there by it brings discipline within the financial system. Finally the
financial institutions at that time actively participate in the management of the
private enterprises to which finance was provided by them.

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Weaknesses of Indian Financial System

The over dependence on these financial institutions result in less risky/equity

capital of the industrial enterprises. Thus the financial structure is that of a equity
less structure, and the debt equity ratio is very high, which shows the poor
financial soundness of such concerns. This problem could be solved by introducing
more banks, mutual fund organizations, LIC, UTI, and GIC, which are the
institutions which mobilize the savings from saving surplus economic units.
Financial institutions fail to meet the financial requirements of small and new
enterprises. Indian financial system at that time was suffering from the absence of
an institutional arrangement for the origination of issues of capital. Thus there is
the need to set up merchant banking with a view to provide necessary skill and
expertise in underwriting the new issues, coordinating the work of underwriting
agencies and to create and integrate among the underwriting organizations.

3A.3 Third Phase of Indian Financial System—Post Nineties

A revolutionary change took place in the Indian financial system through the
privatization of financial institutions and reorganization of institutional structure.
The third phase of Indian financial system are thus characterized by

3A.3.1 Privatization of financial institutions

A revolutionary change took place in the Indian financial system through the
privatization of banks, insurance companies, mutual funds etc. In the post ninety
periods RBI permitted the entry of private banks, both domestic and foreign
private insurance companies, mutual funds, and private parties in the pension
business. This resulted in dismantling the state monopoly in the Indian financial
system.

22
3A.3.2 Reorganization of institutional structure

Development and Public Financial Institutions Dependence of Indian financial

system on Development and Public financial institutions were declined during this
period and more dependence on Capital market, and non-institutional source of
finance. In addition to the traditional form of financing, they also provide to the
core working capital of the industries, merchant banking, project counseling,
portfolio management services, credit syndication, corporate advisory services,
debenture trusteeship, transfer agents, sponsoring mutual funds etc. During this
period the focus was shifted to the promotion of institutional infrastructure,
introduction of credit rating agencies such as Credit Rating information Services of
India Ltd.(CRISIL), Investment

Information and Credit Rating Agency Ltd. (ICRA), and Credit Analysis and
Research Ltd. (CARE), introduction of two stock exchanges such as National
Stock exchange (NSE) and Over the counter Stock exchange of India (OTCE),
Conversion of ICICI and IDBI into banks, winding up of IIBI, disappearance of
DFIs/PFIs/term lending institutions. All these contributed to the transformation of
the financial system existing in India.

Financial Services in Kerala

A well developed financial system is one which comprises the processes and the
institutional frame works for the smooth flow of funds from economic units with
surplus to that of economic units with deficit. The major supplying economic units
are i.e., household sector, which is used for the asset creation by the demand side,
business sector, and government sector. Kerala economy mainly classified into
two-sector, three-sector and four-sector economy.

23
a) Two-sector Economy

A two sector economy consists of only Household sector and Business sector.
Household sector consists of all people who want to satisfy their need and wants.
Business sector includes companies, partnership firms and sole trading concerns
etc. The household sector supply the factors of production like land, labor, capital
and entrepreneurship for a consideration of rent, wages, and interest and profit at
factor market. While the Business sector make use of these factors and produce
goods and services, which is supplied to the household sector through product
market. The household sector pays part of their income for meeting the
consumption expenditure, and the other part is kept as savings. The amount of
savings gradually converted into investment and the investment in fixed assets
leads to capital formation.

b) Three – sector Economy

Three sector economy consists of household, business and government sector.

Government sector includes ruling bodies of the federal, state and local
governments.

c) Four-sector Economy

Four sector economies consist of household, business, government and foreign

sector. Foreign sector includes everyone and everything beyond the boundaries of
the domestic economy. It consists of three markets such as resource market,
product market and financial market.

Financial Intermediaries in Kerala

The financial system in Kerala comprises of various intermediaries like banking

and non-banking financial institutions, capital and money markets, insurance
companies, post offices, chit-funds, money lenders, etc.

24
a) Banks

Commercial Banking sector in Kerala mainly consists of Scheduled Commercial

banks (both public and private) and co-operative banks.

b) Schedules Commercial Banks.

The average population per bank branch was remained static in Kerala, it is 11,000
but in India it is 16,000(June 2013).The demand for finance is mainly from
banking sector, household sector, government and service sector. The amount of
deposits per branch in Kerala was 19.15 crores (2004) as against the country’s
deposit 22.72 crores. The performance of banking sector can be measured by the
bank deposit per capita. In 2001 the per capita deposit in Kerala was 13892/- as
against all India average of ` 9244/-.

c) Co-operative Banks

Commercial banks failed to meet the growing needs of the Kerala economy but
Co-operative banks with its wide branching at rural areas is able to meet the needs
of public . Co-operative credit institution played a major role in the disbursement
of credit to both agricultural and non- agricultural activities in rural areas .Co-
operative banks in Kerala consists of Urban Co-operative bank (UCBs), State Co-
operative banks (SCBs), District Co-operative banks (DCBs), Primary agricultural
Credit Societies (PACs), State Co-operative Agricultural and Rural Development
Banks (SCARD), Primary Co-operative Agricultural and Rural Development
Banks (PCARDBS).

d) Non-banking financial institutions

NBFI’s serve the various needs of the individuals and corporate. Based on their
activities, they may be a) equipment leasing companies b) Hire purchase finance
companies c) Loan companies d) Investment companies e) residuary Non-banking
companies and f) Miscellaneous non-banking companies. In Kerala around 171

25
NBF companies are operating in 2003 of which 23 are public deposit accepting
NBFCs. It is noted that the NBFCs are meeting the financial requirements of
higher purchase transactions. In Kerala 17 non-banking financial institutions are
working in hire purchase lending.

e) Kerala State Financial Corporation (KSFC)

State Financial Corporations were established with a view to provide financial

assistance to the concerned states for its industrialization, modernization, loan for
restructuring industrial sick units etc. In Kerala, KSFC played a major role in
financing Service sector. It provides project finance, working capital finance, asset
finance and term loans to service sectors. Major share of loan disbursement goes to
Ernakulam district and lower share goes to Wayanad district.

f) Kerala State Industrial Development Corporation (KSIDC)

KSIDC developed in 1961 by the state government with a view to promote large
and medium scale industries. KSIDC assist the entrepreneurs in finding out new
business ideas, implementing such ideas with the permission and financial support
of the government.

g) Insurance

The reports of NSS (National Sample Survey) over the last year it is clear that the
life expectancy of Keralites is higher than any other states of India. Insurance
penetration and insurance density in Kerala is much higher than the other states. In
addition to that it is also improving over the years. Government of Kerala also
promote insurance by introducing it to the individuals of vulnerable sectors of the
society such as beedi workers, coir and cashew workers, agricultural workers,
construction workers etc.

Fiscal Reforms in Kerala

The per capita debt position of Kerala over the past long years has been increasing
as compared to the other states of India. Therefore an urgent restructuring of fiscal

26
system existing in Kerala is required. Because of the high population density and
location, Kerala could not attract industrial investments in the post liberalization
period. Kerala stands behind the other states of India in case of both proposed
investment and employment. As per the report of ―Confederation of Indian
Industry‖ 2003, it is stated that Kerala is ranked in 13 th position in respect of
investment climate and 8th position in case of labor. Therefore in order to attract
more private domestic and foreign direct investments, negative perception towards
it should be removed. Major determinants of investment activity level of stock are
cost and availability of credit. The credit deployment rate of an economy is termed
as Credit deposit ratio. In the beginning of the year 2005, CD ratio of Kerala is
only 48.31% (economic review, 2003, state planning board).Therefore credit
deployment should be based on NSDP (net state domestic product) Infrastructure
bottlenecks, poor power infrastructure resulted in lacking industrial investments in
Kerala. Central government investments for industrial development were also very
poor as compared to the other states. Kerala also failed to attract foreign
investment after post liberalization period.

27
 Table 4.1 showing age wise classification of respondents

Age No. of respondents Percent

Below 30 9 22.5
30-40 14 35
40—50 16 40
Above 50 1 2.5
Total 40 100

Source: Primary Data

Chart 4.1 showing age wise classification of respondents

45
40
40
35
35

30

25 22.5
20

15

10

5 2.5
0
below 30 30-40 40-50 above50

INTREPRETATION

The table shows that , 22.5% respondents are below 30 age group, 35%
respondents are in between 30-40 , 40% of respondents are in between 30-40 and
2.5% lies with in the category of above 50.

28
 Table 4.2 showing marital status of respondents

Marital status No. of respondents Percent

Married 30 75
Unmarried 7 17.5
Divorce 0 0
Widow 3 7.5
total 40 100

Source: Primary Data

Chart 4.2 showing marital status of respondents

80

70

60

50

40

30

20

10

0
married unmarried divorce widow

INTREPRETATION

Table shows that 75% of the investors are married,17.5% are unmarried, no one
are divorced,7.5 % are widow.

29
 Table 4.3 showing educational qualification

Educational qualification No. of respondents Percent

Below SSLC 3 7.5
SSLC 10 25
Plus Two 9 22.5
Graduation 13 32.5
PG 5 12.5
Total 40 100

Source: Primary Data

Chart 4.3 showing educational qualification

below sslc sslc plus two graduation post graduation

13% 8%

25%

33%

23%

INTREPRETATION

The table shows that, 32.5% of respondents are having graduation as their
qualification, 22.5% are in the category of plus two, 2.5% of them are SSLC, 7.5%
of respondents are below SSLC and 12.5% of respondents having Post graduation.

30
 Table 4.4 showing the type of institution working

Institution No. of respondents Percent

Govt. 6 15
Private 23 57.5
Others 11 27.5
Total 40 100

Source: Primary Data

Chart 4.4 showing the type of institution working

percent

others 27.5

private 57.5

govt 15

INTREPRETATION

Table shows that out of 40 respondents, 57.5% are private employee, 15%
respondents are government employee and 27.5% of them are other category.

31
 Table 4.5 showing number of members in the family

No. Of members No. Of respondents Percent

Below 2 2 5
2-4 20 50
Above 4 18 45
Total 40 100

Source: Primary Data

Chart 4.5 showing number of members in the family

50
50 45
45
40
35
30
25
20
15
10 5
5
0
Below 2 2-4 Above 4

INTREPRETATION

The table shows that, 50% ofrespondents number of members in the family is 2-4,
45% of respondents number of members in the family comes under above 4
category and 5 % lies within the category of below.

32
 Table 4.6 showing monthly income of respondents

Monthly income No. of respondents Percent

Below 15000 19 47.5

15000-20000 10 25
20000-25000 4 10
25000-30000 5 12.5
Above 30000 2 5
Total 40 100

Source: Primary Data

Chart 4.6 showing monthly income of respondents

50
45
40
35
30
25
20
15
10
5
0
Below 15000 15000-20000 20000-25000 25000-30000 Above 30000

INTREPRETATION

Table shows that,5% of respondents having monthly income of above 30000,

12.5% of respondents are having monthly income of between 25000-30000, 10%
of respondents having monthly income between 20000-25000, 25% of respondents
having monthly income between 15000-20000 and 47.5% having monthly income
below 15000.

33
 Table 4.7 showing Percentage of income kept aside for the investment

Percentage of income No. of respondents Percent

Below 20% 17 42.5
20% 15 37.5
30% 6 15
40% 2 5
50% 0 0
Total 40 100

Source: Primary Data

Chart 4.7 showing Percentage of income kept aside for the investment

Percent

42.5
37.5

15

5
0

Below 20% 20% 30% 40% 50%

INTREPRETATION

Table shows that,42.5% of respondents spent less than 20% of their income for
investment, 37.5% of respondents spends their 20% of income for investment,
15% of respondents spent 30% for their investment, 5% of them spent 40% of their
income for investment, none of respondents spend 50% of income for investment.

34
 Table 4.8 showing the Source of investment

Source of investment No. of respondents Percent

Own Savings 35 87.5
Borrowing 5 12.5
Both 0 0
Total 40 100

Source: Primary Data

Chart 4.8 showing the Source of investment

12.5
Percent

87.5

0 10 20 30 40 50 60 70 80 90

Both Borrowing Own Savings

INTREPRETATION

The table shows that, out of 40 respondents 87.5% of respondents source of

investment is from their own savings. 12.5% is using borrowed fund for
investment.

35
 Table 4.9 showing investment of respondents

Choose investment No. Of respondents Percent

Insurance 12 15
Bank 30 36
Gold 12 15
Mutual fund 0 0
Chit fund 18 22
Post office savings 6 7
Govt securities - -
Others 5 6
Total 83 100

Source: Primary Data

Chart 4.9 showing investment of respondents

36
40
30 22
15 15
20 7 6
10 0 2

0
Percent

Insurance Bank Gold

Mutual fund Chit fund Post office savings
Govt securities Others

INTREPRETATION

The table shows that, out of 40 respondents, 15% of respondents invest in

insurance, 30% of respondents invest in bank, 15% of respondents invest in gold,
no one invest in mutual fund, 22% of respondents invest in chit fund,7% of
respondents invest in Post office savings, no one invest in Government
securities,6% of respondents invest in others.

36
 Table 4.10 showing purpose of investment

Purpose No. of respondents Percent

Safety 15 37
Children’s education 9 23
Retirement 6 15
Children’s marriage 4 10
Construction of house 5 12
Others 1 3
Total 40 100

Source: Primary Data

Chart 4.10 showing purpose of investment

Others 3

Construction of house 12

Children’s marriage 10

Retirement 15

Children’s education 23

Safety 37

0 5 10 15 20 25 30 35 40

INTREPRETATION

The table shows that, out of 40 respondents, 37% of respondents invest for the
purpose of safety, 23% of respondents invest for the purpose of Children’s
education, 15% of respondents invest for the purpose of retirement, 10% of
respondents invest for children’s marriage, 12% of respondents invest for
construction of house, 3% of respondents invest for other purpose.

37
 Table 4.11 showing time period preferred for investment

Period No. of respondents Percent

Short term(0-1years) 6 15
Medium term (1-5years) 29 72.5
Long term(>5 years) 5 12.5
Total 40 100

Source: Primary Data

Chart 4.11 showing time period preferred for investment

13% 15%

Short term(0-1years)
Medium term (1-5years)
Long term(>5 years)

73%

INTREPRETATION

Table shows that 72.5% of respondents invest in medium term basis, 15% of
respondents invest in short term basis and rest 12.5% of respondents invest in long
term basis.

38
 Table 4.12 showing rate at which invest to grow

Rate No. of respondents Percent

Steadily 9 22.5
At an average 19 47.5
Fast 12 30
Total 40 100

Source: Primary Data

4.12 showing rate at which invest to grow

50 Fast
40
30 At an average
20
10 Steadily
0
Percent

Steadily At an average Fast

INTREPRETATION

Table shows that 22.5% investors want to grow their investment at steadily
rate,47.5% investors want to grow their investment at an average rate and 30%
investors want to grow their investment at fast rate.

39
 Table 4.13 showing Social group that influence the investment decision

Social group No. of respondents Percent

Local brokers 10 25
Bank 8 20
Family And Friends 15 38
Newspaper 2 5
Magazines 3 8
Other 2 4
Total 40 100

Source: Primary Data

4.13 showing Social group that influence the investment decision

38
40
35
30 25

25 20

20
15
8
10 5 4
5
0
Local Bank Family Other
brokers And Friends Newspaper Magazines

INTREPRETATION

The table shows that 38% of respondents opinioned that family and friends
influence their investment decision, 25% of respondents opinioned that they are
influenced by local brokers, 8% of respondents are influenced by magazines and
20% of respondents are influenced by bank, 5% of respondents are influenced by
newspaper and 4% of respondents are influenced by other source.

40
 Table 4.14 showing factors considered before investing

Factors No. of respondents Percent

Safety of money 18 45
High Return 9 22
Less risk 4 10
Liquidity 2 5
Tax saving 1 3
Maturity period 2 5
Others 4 10
Total 40 100

Source: Primary Data

4.14 showing factors considered before investing

45
40
35
30
25
20
15
10
5
0
ey rn ris
k ty g d rs
on tu ui
di vin er
io he
m Re Le
ss
Li q xs
a
y p Ot
of g h
Ta it
et
y Hi ur
af at
S M

Percent

INTREPRETATION
Table shows that out of 40 respondents, 45% of respondents invest on the basis of
safety of money, 22% of respondents invest on the basis of high return,10% of
respondents invest on the basis of less risk,5% of respondents invest on the basis
of liquidity,3% of respondents invest on the basis of tax saving,5% of respondents
invest on the basis of maturity period and 10%of respondents invest on the basis of
other factors.

41
 Table 4.15 showing investing in share market

Factors No. of respondents Percent

Yes 0 0

No 40 100

Total 40 100

Source: Primary Data

Chart 4.15 showing investing in share market

No
100%

Yes No

INTREPRETATION

Table shows that out of 40 respondents, no one invest in sharemarket.

42
 Table 4.16 showing monitoring of investment

Factors No. of respondents Percent

Daily 0 0
Monthly 21 52.5
Occasionally 19 47.5
Total 40 100

Source: Primary Data

Chart 4.16 showing monitoring of investment

60 52.5
50
47.5
40
30
20
10 0
0
Daily
Monthly
Occasionally

Percent

INTREPRETATION

Table shows that out of 40 respondents, no one monitor the investment

daily,52.5% monitor their investment monthly ,47.5% monitor their investment
occasionally.

43
 Table 4.17 showing loss taking attitude

Factors No. of respondents Percent

Yes 0 0

No 40 100

Total 40 100

Source: Primary Data

Chart 4.17 showing loss taking attitude

Loss taking attitude

No
100%

Yes No

INTREPRETATION

Table shows that out of 40 respondents, no one is willing to take risk of losing the
principal amount.

44
 Table 4.18 showing the level of satisfaction

Level of satisfaction No. of respondents Percent

Highly satisfied 5 12.5
Satisfied 25 62.5
Neither satisfied nor dissatisfied 2 2.5
Dissatisfied 8 20
Highly dissatisfied 0 0
Total 40 100

Source: Primary Data

Chart 4.18 showing the level of satisfaction

Level of satisfaction
62.5
60
40 20
12.5
20 2.5 0
0
d d d d d
sfie sfie sfie sfie sfie
ati Sa
ti ati ati ati
l ys diss Di
ss
diss
gh r ly
Hi no igh
d H
sfie
ati
ers
ith
Ne

INTREPRETATION

Table shows that, that 62.5% of respondents are satisfied with their investment and
12.5% respondents is highly satisfied, 2.5% respondents are neither satisfied nor
dissatisfied and remaining 20% are dissatisfied.

45
 Table 4.19

Table showing the relationship between monthly income and percentage of

income kept aside for investment

Income Percentage of income

Below 20% 20 30 40 50 Total
Below 15000 12 7 1 20
15000-20000 4 5 9
20000-25000 1 1 1 1 4
25000-30000 3 1 4
Above 30000 2 1 3
Total 17 15 6 2 40

46
5.1 FINDINGS

 Majority of the respondents comes under the age group 40-50 (40%).
 Majority of the respondents are married (75%).
 Majority of the respondents are having the graduation (32.5%).
 Study shows that (57.5%) of respondents are working as private employee.
 The size of the family is 2-4 in most families (50%).
 Study shows that most (47.5%) of the respondents monthly income is
below 15000.
 Majority of respondents (42.5%) keep below 20% of their income for
investment.
 87.5% of respondents source of investment is from their own savings.
 From this study, it is clear that (36%) of respondents preferred investment
is bank deposit and 22% respondents preferred investment is chit fund. No
one prefer investing in mutual fund.
 Study shows that most of respondents (34%) purpose of investment is
safety.
 72.5% of respondents prefer to invest for medium period (1-5 years) of
time.
 Majority of respondents wants to grow their investment at an average rate
(47.5%).
 About (38%) of respondents decision of investment is influenced by family
&friends.
 51% of respondents consider safety of money as an important factor before
selecting the investment.
 No one is interested to invest in share market.
 Majority of investors (52.5%) monitor their investment monthly.
 No one is willing to take risk of losing the principal amount.

47
  Almost 85% of the respondents are satisfied with their investment they
have made.

5.2 SUGGESTIONS

 Investment avenues like share market, mutual funds need more

awareness among working women.
 Develop risk management skills among women investors.
 Conduct investment awareness programmes to promote saving
habits among investors.

48
5.1 CONCLUSION

Financial investment is the purchase of a financial security, such as a stock,

bond, or mortgage. Investment in human capital is spending on education, training,
health services, and other activities that increase the productivity of the workforce.
It is the use of money for the purpose of making more money. to gain income,
increase capital, or both. The purchasing of stocks, bonds, mutual funds, options,
real estate, etc.. Made with the expectation of future income or capital gains S
investment. As a woman, and an investor, shaping of financial future is as
important as the ninny other roles they play in life. That's why taking control today
is essential for realizing their dreams for tomorrow. Whether women are just
beginning to develop their investment strategy or are refining a current one, it's
important to keep in mind that they should build a financial legacy for long term.
At various stages of your life, you are faced with important investment and
financial decisions. Your success in making these decisions with the help of a
sound investment strategy can haw a major impact on your income, net worth and,
ultimately, quality of life in retirement. Women today law more earning potential
and mom influence over financial decisions than ever before. Women represent
almost half of the workforce and many businesses are owned or managed by
women. Many women influence or control the majority of all consumer purchase
decisions. and many of the investment decisions. As a result, it is important for
women to focus on finances now more dean ever.

This report is a reflection of the behaviour of various categories of women

investors. Selecting the perfect investment avenue is difficult task to any investors.
The report is concentrated in identifying the factors considered by women before
investment, awareness level of working women towards various investment
avenues are identified based on their occupation, investors risk in selecting a
particular avenue. The present study is carried over to find out the investment
habits of the working women. There are various investment channels such as

49
banks, chit funds, insurance, mutual fund and so on. It is analysed that most of the
respondents have made investment in banks. Safety is main purpose of investment
of the working women. Most of the respondents spend below 20% of their income
for the purpose of investment. Family and friends influence the investment of
investors. Women investors still prefer to invest in financial products which give
risk free returns. There are too many investment schemes available today to cater
the needs of the investors, it is up to the investor to take a wise decision while
considering all those factors that affect the investment decision.

50
 BIBLIOGRAPHY

Journals

1. V.A.Avadhani, “investment and security markets in india”, Himalaya

publishing house, new delhi,sixth revised edition,2003.
2. Preeti singh –investment management
3. A study of saving and investment pattern of salaried class people with
special reference to chandigarh ( international journal of research in
engineering, it & social sciences (issn 2250-0588) (impact factor: 5.07,\
volume 5, issue 2, february 2015)
4. . An analysis of income and investment pattern of working women in the
city of ahmedabad (iracst- international journal of research in management
& technology (ijrmt), issn: 2249-9563 vol. 4, no.6, december 2014)
5. . Bajtelsmit, V.L. and Bernasek, A., 1996. Why do women invest
differently than men?.
Websites
1. https://www.researchgate.net/publication/
320041752_A_STUDY_OF_INVESTMENT_AWARENESS_AND_PREF
ERENCE_OF_WORKING_WOMEN_IN_JAFFNA_DISTRICT_IN_SRI_
LANKA
2. https://www.ijser.org/researchpaper/A-RESEARCH-PAPER-ON-
INVESTMENT-AWARENESS-AMONGINDIAN.pdf
3. http://ijsart.com/Content/PDFDocuments/IJSARTV2I2701.pdf
4. www.investopedia.com
5. www.sebi.com

51
 INVESTMENT HABITS OF WORKING WOMEN

1. Name

2. Age

Below 30 30-40 40-50 Above50

3. Martial status

Married Unmarried Widow Divorced

4. Educational Qualification

Below SSLC SSLC Plus two Graduation

Post Graduation Others

5. Number of Members in the family

Below 2 2-4 Above 4

6. Type of institution working

Government Private Others

7. Organisation/Institution working

…………………………………………………………………………….

8. Monthly Income (in Rs)

Below 15000 15000-20000 20000-25000 25000-30000

52
Above 30000

9. Percentage of income kept aside for investment

Below 20% 20% 30% 40% 50%

10. State the source of investment

Own savings Borrowings Both

11.Which of the following avenues have you opted for invest?

Insurance Banks Gold Mutual fund Chit fund

Post office savings Govt securities Others

12. Purpose of your investment

Safety Children’s education Retirement plan

Children’s marriage Construction of house Others

13. What is the time period you prefer to invest?

Short term (0-1 year) Medium term (1-5years)

Long term (>5years)

14. At which rate do you want your invest to grow ?

Steadily At an average rate Fast

15. Social group which influence your investment decisions?

Local brokers Bank Family & Friends Magazines

Newspaper Others

53
16. Factors to be considered before selecting the investment scheme?

Safety of money Return Less risk Liquidity

Tax saving Maturity period Others

17. Do you invest your money in share market ?

Yes No

18. If yes; imagine that stock market drops after your invest in it then what will
you do ?

Withdraw your money Wait to increase Invest more in

it

19. How often do you monitor your investment?

Daily Monthly Occasionally

20. Can you take risk of losing your principal investment amount?

Yes No If yes : what percentage ……………………………

21.State your level of satisfaction on your investment.

Highly satisfied Satisfied Neither satisfied or dissatisfied

Dissatisfied

Highly dissatisfied

54