Children's Day Special! How Digital India program pushing online investment platforms is changing the education sector
Children's Day Special! Digital India programme is fast gaining traction among the Indian investors who want to save money for the education of their children.
This Children's Day might be an eye-opener for the Indian parents as Digital India programme is fast gaining traction among the investors who want to save money for the education of their children. They also want some customised investment plans online and at the same time due to the lack of proper information and transparency in investment norms, they are looking for online platforms to leverage content to bridge this gap by providing all information related to investing in a transparent and jargon-free manner. According to the industry insiders, simplified content delivery, as well as ease in investing, has led to an increase in the number of investors starting early through the online platforms on education planning.
Harsh Jain Co-founder and COO at Groww said, "Online platforms lay emphasis on the importance of content in investor education. One of the biggest deterrents to investing is the lack of content that is unbiased and easy to understand. Digital platforms leverage content to bridge this gap by providing all information related to investing in a transparent and jargon-free manner. Their educational content spans different formats such as blogs, newsletters, podcasts, videos, etc. They also bring in industry experts and chief investment officers to offer vital insights to our users on a regular basis."
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Jain went on to add that earlier investing was thought of as an activity that required a thorough understanding of the market and years of experience. However, simplified content and the ease of investing has ensured that you no longer have to be 40 and experienced to invest. Simplified content delivery, as well as ease in investing, has led to an increase in the number of investors starting early. Needless to say content has been a powerful catalyst in demystifying investing and making it accessible to the younger generation. With a wealth of resources at their disposal, investors feel empowered enough to take important investment decisions on their behalf, select the most suitable investment product for themselves, avoid common investing traps and most importantly, feel supported and encouraged on their investment journey.
Standing in sync with the views expressed by Groww; Ankur Choudhary, Co-Founder & CIO at Goalwise.com, "Higher education has become expensive in India and abroad and its cost continues to increase at a rate of 10-15 per cent per annum, which is much higher than overall inflation. This has made it one of the most important financial goals for parents to save and invest for. At digital platforms, saving for one’s Child’s education is amongst the top 3 goals of parents (retirement and tax-saving being the other two). Earlier, parents used to turn to inefficient and opaque products like endowment plans marketed as Child Plans by insurance firms but now with online platforms like us and our competitors they can easily plan and invest in customized Mutual Funds portfolios for the same thus getting higher returns and transparency." So, the Indian investors who want to gift their child on this Children's Day, can choose their education plan by logging in at the online investment platforms.
Puneet Agarwal, Cofounder ta Money View said, "The digital and paperless process by Money View is further creating a positive impact on the percentage of Indians getting educated. We understand that every middle-class parent wants to send their children to the best school, however, these schools ask for annual fees in advance. This is where we step in to give an easy way for parents to convert this annual fee into a manageable monthly outflow through our education loan. We provide access to a set of consumers who are currently underserved by the banks & this is driving strong growth for the education space across all the tiers of our nation."