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'Rich Dad, Poor Dad' were the primary source of financial advice for Indian teenagers.

By Shikha Mittal

There was a period when famous novels like 'Rich Dad, Poor Dad' were the primary source of financial advice for Indian teenagers. Despite the outstanding principles, the prose was unrelatable to an Indian reader, and the advice was unworkable. Professional advice, on the other hand, was out of reach due to the prohibitively high cost of hiring a financial planner. As a result, the Indian retail investor stayed away in large numbers. That was a long time ago.

The social media pull - pros and cons

A huge community of influencers who routinely discuss wealth creation and personal finance management is fueling this interest. They use social media to share their wealth-building experiences, voice their views, and offer advise. They've steadily increased their clout.

Experts in personal finance are concerned about their recommendations because a big proportion of influencers lack the professional skills required to give guidance. There's also the issue of entrenched interests in promoting a specific viewpoint. Small-time investors with insufficient knowledge are frequently forced to pay the price for a decision that does not pan out in the market. They could be acting under the guise of counsel posing as knowledge.

The benefits and drawbacks of social media

This enthusiasm is fueled by a large group of influencers who often debate wealth development and personal financial management. They utilise social media to share their wealth-building stories, express their opinions, and provide advice. They've slowly grown in influence.

Personal financial experts are concerned about their suggestions since many influencers lack the professional abilities needed to provide advice. There's also the question of vested interests in supporting a particular point of view. Small-time investors with little information are usually compelled to pay the price for a poor investment selection. They might be posing as advice and acting as if they had information.

Taking charge of one's financial situation.

As a result, an increasing number of young professionals understand the need of financial literacy. Because of the capacity to study remotely, this has resulted in an upward tendency. Many organisations and experts have linked up to provide financial literacy and awareness courses that are relevant to Indian clients, well-researched, and impartial. Entrepreneurs, small business owners, and women can take programmes tailored to their needs.

National Stock Exchange National Stock Exchange have been providing such lessons for more than a decade.Seek vector Logo/wikipedia

Getting the word to people who aren't in finance

While financial literacy is currently a popular subject, organisations such as the National Stock Exchange have been providing such lessons for more than a decade. So far, they've mostly catered to big businesses. On the need to extend awareness, RehanaD'Suza, Vice President & Head of Business Development, National Stock Exchange of India Limited, states, "Financial literacy and management is a huge gap left in our education generally."

It causes young professionals to lose all faith in themselves, leaving them open to deception and unwise financial decisions. The media's or social media's popular advice is usually slanted or wrong. Our corporate clients count on us to provide them with accurate, up-to-date, objective, well-researched, and effective content."

The majority of their audience is made up of non-financial people who have trouble grasping financial concepts. As a result, these organisations routinely work with communication professionals to find new ways to communicate their message.

Also read: Key Indian Indices traded in Green: Healthy Buying

People who used to dislike financial literacy workshops because they considered the subject frightening and difficult to relate to are now interested in watching 12-minute long street dramas. Using an artistic medium to demystify such a subject allows us to capture the audience's attention before a facilitator begins serious conversations on things like savings, investments, and other topics."

Such policies help to create a more favourable investment climate, enabling young people to become more involved in the economy while benefiting from overall growth.


(Keywords: Financial literacy, today's youth, Rich Dad Poor Dad, RehanaD'Suza, Vice President & Head of Business Development, National Stock Exchange of India Limited)



K'taka Hijab Row Triggers Debate.

By M.K. Ashoka

The issue of wearing a hijab (head covering worn in public by Muslim women) to the colleges along with the uniform has sparked a debate in Karnataka over religious practices impacting the education system in the state. The matter has also snowballed into a controversy on whether the hijab could be considered as part of the uniform. The ruling BJP is deliberating on whether to take a call on allowing hijab as part of the uniform of college students. State Education Minister B.C. Nagesh, while opposing the wearing of hijab to classrooms, has said that a decision would be taken on the issue soon by the government.

The experts as well as students are divided over the issue. Those who are in favour state that the dress code in classrooms should not indicate faith or religion as it creates barriers between students as well as teachers. Those who support the wearing of hijab say that hijab should be treated as a scarf. Hijab is black in colour and it can't be a religious symbol as Islam is identified with the green colour. The hijab should be treated as a symbol of chastity, they maintain.

The denial of permission to six girls in the Government Girls' Pre University College in the communally sensitive district of Udupi in the state has created a controversy. Nagesh dubbed it as a political move and questioned whether centres of learning should become religious centres. Meanwhile, the girl students have decided to continue their protest until they are allowed to attend classes wearing hijab.

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Police have come under sustained attack around the country. | Unsplash

An Indian-American police officer, who has been on the job for just over six months, is being hailed a hero for rushing to neutralize a gunman who shot a police officer and wounded another. Sumit Sulan, 27, shot the assailant who surprised the officers opening fire on them in his mother's flat on January 21 where police were called because of a domestic dispute. Jason Rivera, 22, was killed and Wilbert Mora, 27, was wounded, but Sulan who was in the police party advanced and shot the alleged gunman, Lashawn McNeil, 47, according to police.

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The most common allergen in India are milk, egg and peanuts.

By Dr Nidhi Gupta

Motherhood comes with its own mixed bag of emotions; we want to save our child from every little peril that comes their way, including allergies. The most common allergen in India are milk, egg and peanuts. According to the IAP survey, 11.4 per cent children under the age of 14 years suffer from some form of allergies and they usually peak around the month of May.

The symptoms of allergy range from runny nose, sneezing, coughing, rashes, watery and red eyes to swollen tongue and breathing difficulties. A child experiences serious discomfort and it leaves the parents hopeless at times. Allergies develop slowly over time; parents need to have patience and commitment towards managing them. However, there are certain ways in which we, as parents, can contribute in prevention and possible alleviation of the problems.

* Do Not Stress

Staying stress-free and calm is very important during this time. Creating panic will only add to the misery. Once we know about the symptoms, our mandate must be to keep a first-aid antiallergic kit at home. We can make this kit with the help of our paediatrician.

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