Review of Professional Management- A Journal of New Delhi Institute of Management

Open Access Open Access  Restricted Access Subscription Access

Awareness & Attitude towards Financial/Investment Products among Working Professionals in Delhi and NCR


Affiliations
1 G L Bajaj Institute of Management & Research, Greater Noida, UP, India
 

This research is aimed to investigate on the level of awareness about financial/investment products among the working professional in Delhi/NCR. Financial/Investment assets such as mutual funds, fixed deposits, Public Provident Funds (PPF), Insurance, Equity (shares), Recurring deposits (RD), Provident Funds (PF), Post office schemes and Commodity Derivatives are selected for studying level of awareness among sample respondents. Research also analyzed insights about retirement planning, factors influencing decision making for investment, Income range for first time investors and percentage of total income invested in financial products. Cluster analysis technique has been used to divide the entire population into two unique clusters; constituent elements of a cluster have similar characteristics in terms of awareness about the financial/investment products. Upon analyzing data, it is clear that awareness about range of Financial/investment products is very less among working professionals. People hesitate investing in complex financial products such as equities and derivatives due to their risky nature and are quite less aware about the risk management strategies. This research is useful for various investment companies and for people who are looking forward towards making an investment.

Keywords

Cluster Analysis, Mutual Funds, Financial Assets, Awareness, Working Professionals.
User
Notifications
Font Size

  • Anand, S., Murugaiah,V., (2004). Marketing of financial services: strategic issues, SCMS Journal of Indian Management.

  • Avadhani VA, (2008). Marketing of Financial Services, Himalaya Publishing House, Mumbai

  • Badla, B S., Garg, A, (2007). Performance of Mutual Funds in India - An Empirical Study of Growth Schemes, GITAM Journal of Management, Vo1. 5, No.4.

  • Desigan et al., (2006). Women Investor’s Perception towards Investment: An empirical Study, Indian Journal of Marketing. [Online] Available: http://www.google.com.

  • Goel, M.M., (2012). Banking and Financial Literacy The Korea Times.

  • Joyce K.H. Nga, Lisa H.L. Yong, Rathakrishnan D. Sellappan, (2010). A Study of Financial Awareness Among Youths, Young Consumers, Vol. 11, Issue 4.

  • Lalitha A. and M. Surekha, (2008). Retail Investor in Indian Capital Market: Profile, Pattern of Investment Profitability. The Indian Journal of Commerce, Vol. 61, No.3.

  • Mark, T. (2006). The Winning Investment Habits of Warren Buffet and George Saros, New Delhi: Kogan

  • Noronha, M.R., (2007). Performance Evaluation of Equity Based Mutual Funds: A Case Study of Three Asset Management Companies in India, The Management Accountant, Vol. July.

  • Parihar BBS, Sharma Rajeev, and Singh Parihar, Deepika (2009). Analyzing Investors Attitude Towards Mutual Funds as a Investment Option, published in The ICFAI Journal of Management Research, Vol.8., No. 7.

  • Pati A P and D. Shome, (2011). Do Households Still Prefer Bank Deposits? An Analysis of Shift in Savings and Savings Determinants, IUP Journal of Bank Management, Vol.10, No. 1.

  • Qamar, F. (2003). Demographic Influences on Rural Households’ Saving and Investment: A Study of Rural Households in the Ho Municipality of Ghana, The International Journal of Applied Psychology, Vol 2, Issue 4.

  • Rajeswari, T.R., Ramamoorthy, V.E., (2001). An Empirical Study on Factors Influencing the Mutual Fund/Scheme Selection by Small Investors, [Online] Available: http://www.utiicm.com/Cmc/PDFs/2001/ rajeswari.pdf.

  • Singh, B. K., Jha, A.K., (2009). An Empirical Study on Awareness & Acceptability of Mutual Fund, Presented on Regional Student’s Conference, ICWAI.

  • Thilakam, C. (2012). Financial Literacy among Rural Masses in India, paper presented in the 2012 International Conference on Business and Management, 6 -7, Phuket, Thailand.


Abstract Views: 487

PDF Views: 175




  • Awareness & Attitude towards Financial/Investment Products among Working Professionals in Delhi and NCR

Abstract Views: 487  |  PDF Views: 175

Authors

Satyam Khatri
G L Bajaj Institute of Management & Research, Greater Noida, UP, India
Nisha Verma
G L Bajaj Institute of Management & Research, Greater Noida, UP, India
Ankita Indu
G L Bajaj Institute of Management & Research, Greater Noida, UP, India

Abstract


This research is aimed to investigate on the level of awareness about financial/investment products among the working professional in Delhi/NCR. Financial/Investment assets such as mutual funds, fixed deposits, Public Provident Funds (PPF), Insurance, Equity (shares), Recurring deposits (RD), Provident Funds (PF), Post office schemes and Commodity Derivatives are selected for studying level of awareness among sample respondents. Research also analyzed insights about retirement planning, factors influencing decision making for investment, Income range for first time investors and percentage of total income invested in financial products. Cluster analysis technique has been used to divide the entire population into two unique clusters; constituent elements of a cluster have similar characteristics in terms of awareness about the financial/investment products. Upon analyzing data, it is clear that awareness about range of Financial/investment products is very less among working professionals. People hesitate investing in complex financial products such as equities and derivatives due to their risky nature and are quite less aware about the risk management strategies. This research is useful for various investment companies and for people who are looking forward towards making an investment.

Keywords


Cluster Analysis, Mutual Funds, Financial Assets, Awareness, Working Professionals.

References





DOI: https://doi.org/10.20968/rpm%2F2016%2Fv14%2Fi1%2F109398