Active Stocks
Fri Jun 14 2024 15:58:47
  1. HDFC Bank share price
  2. 1,597.45 1.05%
  1. State Bank Of India share price
  2. 840.20 -0.44%
  1. Tata Steel share price
  2. 183.05 0.30%
  1. ICICI Bank share price
  2. 1,105.10 -0.20%
  1. Kotak Mahindra Bank share price
  2. 1,717.00 -0.54%
Business News/ Money / Personal Finance/  Around 49% of new demat accounts in FY24 opened by investors below 25, says Paarth Dhar of Angel One
BackBack

Around 49% of new demat accounts in FY24 opened by investors below 25, says Paarth Dhar of Angel One

Angel One launched an engaging and fun educational platform for youngsters – Fin One – catering to young investors. It aims to deliver infotainment content that engages, entertains, and empowers, cutting across geographical & socioeconomic barriers

He says that the participation of a large number of young investors in the Indian markets is poised to alter the financial landscape significantly.Premium
He says that the participation of a large number of young investors in the Indian markets is poised to alter the financial landscape significantly.

When it comes to savings and investments, one of the key hurdles faced by lay investors includes financial awareness and knowledge. A number of financial literacy campaigns are conducted by a number of government and private agencies. 

Angel One has launched one such initiative ‘Fin One’ that aims to make youngsters aware about wealth generation via saving and investments.

Fin One aims to deliver infotainment content that engages, entertains, and empowers, transcending geographical and socioeconomic barriers. The content comprises interactive quizzes and challenges that make learning about finance as engaging as scrolling through social media feeds.

ALSO READ |  Gen Z should invest in PPF, mutual funds and insurance, says Prof Saumya Aggarwal of SRCC

In an email interaction, Paarth Dhar, Vice President, New Growth Opportunities of Angel One told MintGenie more about the initiative, what it entails and how the investing landscape emerges once the young investors join the investing population.

Edited Excerpts:

What are the key objectives of launching Fin One besides spreading financial literacy among youngsters?

Beyond spreading financial literacy among youngsters, Fin One aims to create a robust financial awareness platform that supports informed decision-making for all demographics, particularly the younger generation. The initiative seeks to address gaps in financial education, reduce the intimidation factor around financial topics, and foster a culture of informed financial planning and investment. 

Moreover, Fin One aspires to empower India's youth to be proactive in managing their finances, thereby contributing to broader economic stability and growth.

While teaching youngsters about the basics of finance, do you look forward to promoting Angel one at the same time?

While Fin One's primary goal is educational, there is a strategic alignment with Angel One's services. Around 49 per cent of new demat accounts opened in 9M in FY24 on Angel One are by those below 25. 

ALSO READ | Investors below 35 most financially savvy, says report

By engaging young individuals through financial awareness content, Fin One naturally introduces them to Angel One as a viable platform for applying their new knowledge to real-world investing and savings. 

Was any study or survey conducted before conceptualising Fin One?

Before launching Fin One, extensive research was undertaken to understand the specific needs, behaviours, and preferences of the target demographic—India's Gen Z and Millennials. Studies provided insights into the financial aspirations and challenges faced by young Indians. 

These insights guided the creation of Fin One's content strategy, ensuring it was tailored to not only educate but also resonate and engage with the younger generation effectively, thereby boosting financial awareness among a billion Indians.

Can you tell us your thoughts on the future of  Indian markets when many youngsters join financial markets as investors in the next five years?

The participation of a large number of young investors in the Indian markets over the next five years is poised to alter the financial landscape significantly. Approximately 48 per cent of Angel One's clients are below the age of 25, indicating a strong youth demographic that the company aims to engage and retain over the long term. 

This demographic is typically more open to adopting new technologies and innovative financial products, which could lead to greater diversification and resilience in the market. Educated young investors are likely to contribute to more vibrant and sustained market activity, promoting growth and stability. 

There are two key building blocks of wealth creation — savings and investment. What will Fin One emphasise on between the two?

Fin One will provide a balanced educational approach that emphasises both saving and investment. Understanding the importance of saving is fundamental and serves as a foundation for effective financial planning. 

ALSO READ | Planning early retirement? How to build a 10 crore corpus by age 52

However, investment education is equally crucial as it introduces the concepts of wealth creation over time and maximising the potential of accumulated savings. 

By educating young individuals on both fronts, Fin One aims to equip them with a comprehensive understanding of the market in a fun way, fostering habits that support both immediate and long-term financial health.

 

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 17 May 2024, 08:58 AM IST
Next Story footLogo
Recommended For You