Here is something for the poor too. A $1-a-month investment plan has been launched by Prudential for targeting more than six hundred million poor people in India who cannot purchase financial services products. This plan will be offered in partnership with an Indian microfinance institution. The minimum investment for this plan would be fifty Indian rupees or just over an American dollar every month to paid for a minimum of five years.
The goal of the company is to reach to the lower strata of the society who could also gain in from the success in the capital market. As per an estimate around six hundred million people in the country don’t have any access to formal finance facility. Now the trend seems to be changing and people have started investing in financial products rather than saving in cash and deposits. The company is considering this as a challenge for increasing retail investor awareness in the country.
Via telegraph
