With a motive to spread financial literacy among citizens, V.S. Binu, an MBA faculty member of SCMS School of Technology and Management, started his journey across Kerala on December 5.
Realising students have less knowledge about the practical side of contemporary stock investment and mutual funds, Binu decided to spread awareness about the same. “The lack of awareness wasn’t restricted to just students. When I talked with my friends and relatives, I observed that people entrust more of their money in chit funds and banks. I’m aiming at changing the habit of saving to the habit of investing, where money grows with us, unlike in banks and chit funds, where the income is minimal.”
Binu takes classes for students with MBA, BBA and BCom backgrounds as it would be easier for them to understand the terminologies being used and perceive the area of subject in a better manner than students hailing from other disciplines. His classes intend to provide the students with information on how to invest, whom to approach to buy the shares, what is the minimum amount required to buy the shares, etc. He would also elicit the employment opportunities awaiting the students in this field and the entrance exams one should attend to avail of these opportunities. His focus lies more on students from aided and government colleges.
“Student response is good. I use anecdotes to connect with students and most of the classes are in Malayalam. Students are contacting me via Whatsapp and Facebook to clarify doubts after the classes.”
He wants to continue spreading social awareness through rides for a long time. After the success of the All-Kerala Financial Literacy Drive, he’s planning to take his programme to the all-India level.
He has so far covered most of the colleges in Ernakulam and is planning to hit north Kerala on January 8 and south Kerala in the 3rd week of January.