CGSI sensitises senior citizens on ‘Financial Matters’

CGSI sensitises senior citizens on ‘Financial Matters’

Seminar organised in association with Dignity Foundation

MUMBAI: Consumer Guidance Society of India (CGSI) in association with Dignity Foundation organized a seminar on ‘Sensitizing Senior Citizens on Financial Matters’. In his introductory address Dr. M. S. Kamath, Hon. Secretary, CGSI alerted the senior citizens about various options they have as consumers while faced with a situation.

Mr. Prakash Ranjan Sinha, Founder and Director at Nature India Consultants Pvt. ltd., in his Keynote Speech detailed about safe and viable investment options available to the senior citizens. “When you invest your money at this stage of your life, liquidity is the most important factor even though safety and return on investment is also important,” said Mr. Sinha.

Mr. Sinha advised the senior citizens to invest in Fixed Deposits, if their requirement for liquidity is less than three years. If the requirement period is more than three years, it is sensible to invest in equity through funds, he added.

Main suggestions put before Senior Citizens on ‘Financial matters’ in the seminar are - Best way to invest for a longer period of time is to identify and invest in a large cap fund; Before investing, one should be clear about the period of time the money can be invested; Any fund which is around for a longer period of time with a good track record, is worth investing in; Never invest in any asset which you cannot understand.

Earlier, Ms. Aparna Gopinath of Dignity foundation explained about the importance of Senior Citizens having knowledge about their personal financial matters.

About CGSI: The Consumer Guidance Society of India (CGSI) is the first and foremost consumer body of the country. The Maharashtra State Government has entrusted CGSI to establish and manage the Maharashtra State Consumer Helpline. CGSI has been actively championing the rights of consumers for more than 40 years. The Society was founded by women activists in the year 1966. Their aim was to protect the rights of consumers, who found themselves helpless whenever they were supplied with defective goods or services. The efforts of CGSI and other Consumer Organisations of our country bore fruit when the Consumer Protection Act was enacted in the year 1986 and the Consumer Courts were set up thereafter. Maharashtra consumers can call the Toll-free number 1800222262 or send e-mail to mah.helpline@gmail.com to seek information, advice or guidance for their day to day consumer problems.