Face2News/Chandigarh
Experts today stressed on the need to make investments for a secured future but stressed on the need to exercise caution. They were speaking at a regional seminar on investors education held at CII Northern Region headquarters in Sector 31 here today. The seminar was organised by BSE, SEBI and CDSL in association with Citizens Awareness Group.
(MOREPIC1)Surinder Verma, Chairman of Citizens Awareness Group welcomed the guests and stressed on the need for wise investment and felicitated the guest speakers. Harbinder Sokhi of BSE said it was a great platform for exchange of ideas and for making the investors aware.
While speaking on the occasion, Mr Suresh Kumar Mohanty, Wholetime Member, SEBI, said it’s indeed encouraging that since covid time people have started investing, especially youngsters but there is a need to ensure all precautions are taken before making any investments.(SUBHEAD)
He said trading in the stock markets has good returns but also there is a risk involved. People who are not aware are getting into making quick money and stressed that those promising quick money should be dealt with precaution, adding that SEBI was also acting as a regulator by dedicating a special department for fraud investigation and a robust grievance redressal mechanism.
Mr Rajesh Dangeti, Regional Director, SEBI, while speaking on the occasion said, “Make investment as your life partner but invest wisely.”
He said the onus of awareness is with stakeholders, adding, investors always look at what he would get out of his or her investment. “When do you invest? It’s only when you have the knowledge and trust that it’s a safe investment. But how do we ensure it is a safe investment? We ensure transparency and disclosure in the public domain”.
Dangeti stressed that while things are simpler for investors because of the advancement of technology, there is also a need to safeguard yourself from technological advances with financial frauds on the rise.
Mr Varun Gupta, Regional Head (North), BSE, said despite covid onset in 2020 the capital market didn’t close for even a single day despite covid restrictions. He added while awareness is being done at the levels of schools and colleges it was encouraging that people during covid came forward to make investments, especially new age investors who will be responsible for taking care of their families 10 years from now.
He added it is our money and we have to take care of it. Before investment we must see what returns we will get and when so that we get the money when we need it. “Never trust anyone blindly and I can say here that digital currency is the future but not crypto currency. Citing one example, he said. Electronic Gold Receipt (EGR) scheme is today the safest as contrary to our mindset of considering that buying jewellery is good investment.
Mr Yogesh Kundani, Senior Vice President, CDSL, while speaking on the occasion said it was indeed encouraging that new investors are coming but one should be conservative in making investments and there should be a pick and choose policy so that wise decisions are taken at the right time.
He said consolidated account statements should be reviewed every month as it’s investment for a safe future ahead. “We have the facility of downloading a 12 month statement. Also every investor should ensure updating of KYC details is done regularly when brokering or in case of demat accounts. Now we have the facility of having up to 3 nominees for demat accounts. I must also add here that everyone should download the Saarthi app of SEBI which is a great tool for investor awareness.
