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| Writer | Dr. Mahesh Kumar Sarva |
| Category | Business & Career |
| Language | English |
| Publisher | Lovely Professional University |
| Publish Date | * |
| Pages | 271 |
| File Size | 7 MB |
| File Type |
Personal Financial Planning PDF: As one of the most rapidly developing service industries in India and aided by a world of economic, technological, and social change, the role of financial planning is increasingly important in the Indian community. In India, we have endured major economic and regulatory change, including widespread changes in the banking system and, through the late ‘1990s, a reducing inflation rate in stark contrast to the double-digit inflation earlier.
We have seen turbulent times in the stock market and the adoption of the depository system, a transition to rolling settlement, and the introduction of derivatives. A well-developed debt market remains a distant dream, forcing investors to hold on to illiquid instruments. Senior citizens are facing the brunt of the impact of these changes, and as the average age of our population climbs, there is increasing pressure on the early introduction of a social security system for financial support.
Shadowing and, at times, pre-empting this environment has been an expansion in the type and style of investment products available in the market. Indians, by and large, have increasingly embraced the new investment environment, and the rising popularity of managed funds shows an increasing sophistication in the consumer’s approach towards their investments. The opening up of the insurance sector and the imminent arrival of broad ranging pension reforms have primed both the economy and society for the development of the personal financial planning