CHAPTER I

INTRODUCTION

1.1 Introduction
1.2 Role of working women
1.3 Savings and investment among working women
1.4 Need of the study
1.5 Investment

1.5.1 What is Investments Activity?

1.5.2 Factors Affecting the Investment
1.5.3 Features of investment
1.5.4 Success in investment
1.6 Savings
1.6.1 How do Savings Emerge?
1.6.2 Why do People save?
1.6.3 Factors Affecting Savings

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1.1 INTRODUCTION:

Investment is the sacrifice of certain present value for the uncertain future reward. It
entails arriving at numerous decisions such as type, mix, amount, timing, grade etc. of
investment and disinvestment. Further, such decision-making has not only to be
continuous but rational too. Broadly speaking, an investment decision is a tradeoff
between risk and return. All investment choices are made at points of time in
accordance with the personal investment ends and in contemplation of an uncertain
future. Since investments in securities are revocable, investment ends are transient
and investment environment is fluid, the reliable bases for reasoned expectations
become more and vaguer as one conceives of the distant future. Investors in securities
will, therefore, from time to time, reappraise and re-evaluate their various investment
commitments in the light of new information, changed expectations and ends.

Savings refer to money you put aside for future use rather than spending it
immediately. In addition to the benefits of saving up for future purchases, delaying an
impulse purchase also helps you decide whether it is something you really need, or a
waste of money you will regret shortly after buying. One of the most important things
to save for is unexpected financial emergencies. These can include losing your job,
unexpected health issues or your car or other home appliances breaking down, so you
should have between three and six months’ worth of living expenses set aside. If you
don't have an emergency fund, you may end up having to take out a short-term, high
interest loan or carry a balance on a credit card at a high interest rate. For short-term
savings, you usually want to put your money somewhere safe and any interest you
earn on it is just icing on the cake. Deposit accounts, like savings accounts, checking
accounts certificates of deposit and money market deposit accounts at banks are
covered by the Federal Deposit Insurance Corporation, which means that up to
$250,000 is safe even if the bank goes out of business. If, however, you have a much
longer-term goal, such as retirement, you might think about investing some of the
money in something a little riskier, like the stock market, that can offer a higher rate
of return, suggests CNN Money

In the formulation of a programmer for the acquisition and management of

investment, the first and most basic step is to understand the basic connotations of

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investment, speculation and gaming and to appreciate the fundamental differences
between these terms.

1.2 ROLE OF WORKING WOMEN

A perception After Independence (1947), Government enacted legislations to

improve the conditions of women and provide better opportunities for their
development through reservation in all branches. Setting up of National Commission
on self-employed women and women in the informal sector, preparation of National
Perspective Plan for women's l development and setting up of the Women
Development Corporation in various states have together institutionalized the issue of
women's development as an inherent part of working of the government. "Working
women are accepted as the part of the work force. Despite a steady rise in share of the
working women i.e., 13% in 1987, 20% in 2000, 28% in 2002, and 32% in 2004, only
3% in 2001, 5% in 2005 of women occupy senior positions in private sector across the
country" (Raj Kamal and Ruchi Jain, 2005). The share of working women was 30% in
2008 and increased to 37% in 2010. The woman in senior positions was 8% in 2010
(Prajavani, 28/12/2010). Generally women are working as teachers, doctors,
engineers, pilots, taxi drivers, policemen, conductors, administrators, bank officers,
ministers and judges. Educated urban women are making a landmark in the
nonconventional fields like consultancy, advertising, cinema, garments, exports,
fashion designing, printing, handcraft, tourism, cosmetics, and food industries. They
have a significant exposure to the world through media, travel and information
technology. The contemporary world has been a "fairer person's world" where men
and women work together as individuals. The need to supplement family income to
raise the living standards and to shoulder family responsibilities is the reasons which
have induced women towards employment. In spite of the increasing realization of the
role of the working women, in particular, there are many challenges before them.
These challenges are more conspicuous in the field of finance in general and savings
and investments in particular.

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1.3 SAVINGS AND INVESTMENT AMONG WORKING WOMEN

An overview today working women operates their savings account, possess assets
individually and own various instruments of investments. Women normally gain
insights on various aspects of savings and investment schemes through education and
through media, including reading stock exchange reports and attending seminars on
investments. The educated working women have now become more assertive, more
conscious and independent in investment decisions (Kulwanta Singh 2004). The
government has mandated public sector banks to keep 2% to 5% loans for the women
entrepreneurs. In addition, the banks have further popularized savings and
investments habits among women. These schemes of savings and investments not
only provide economic independence but also provide strength to withstand the risk
arising from death, accident or retirement. As a result, they are investing in various
avenues such as bank deposits, insurance policies, post office deposits and
certificates, government securities and corporate stocks, bonds and mutual funds.
Savings and investment habits of working women help them to improve their
economic status and in turn, help the entire family in getting a good health, hygiene
and harmony. Women have also realized the importance of utilizing returns from
profitable investments. Working women consider investing as a necessity and not a
luxury. A great majority of working women are required to help the family, obtain
adequate food, clothing and shelter. Women tend to spend more for the benefits of
family welfare, food, health and school fees. As a result, they spend less on
investments. Even in that investment, the most part, they entrust responsibility of
investing to their husbands and assume less financial risks than men. It is necessary to
give women a positive reinforcement that they can invest and they can do it well. It is
necessary for women to have a control on their income as well as and measure the
performance of their investment plans.

1.4 NEED FOR THE STUDY

The women's entry into employment market has certainly raised their income and has
enabled them to maintain a higher standard of living. For this purpose, they create
savings which are, in turn, channelized for investment in productive purposes. Thus,
the savings and investments of working women are important from the point of view
of economic welfare of their families in particular and capital formation of the

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economy in general. For the welfare of the family, they try to save some portion of
their earnings in various short term and long term investment schemes. Savings and
investment policies of the government as well as the financial institutions have an
equal amount of appeal on men and women. The educated working women who have
knowledge of various schemes of savings and investments fail to take independent
decisions while selecting avenues of investment. The government has framed various
schemes to encourage women to participate in the process of savings and investments.
In addition, the organizations set up to promote investment culture have been
organizing various programs, especially, for educating the women. However, these
schemes have not fully accomplished their objectives. It is, therefore, a high time to
conduct a survey with a view to evaluate the impact of various savings and investment
initiatives on the economic and social well-being of working women, to identify the
influencing factors, their preferences for various avenues of investment, and to
evaluate their level of awareness and expectations about various investment schemes.
Against this background, this study is a humble attempt to throw light on
understanding the behavior of working women in savings and investment process, and
its impact on improving family income, standard of living and securing a better future
among the working women. These views are further corroborated by the views of the
selected institutions offering investments schemes.

1.5 INVESTMENT:

The term economic growth investment has a rather precise meaning in the literature of
economic theory. Typically it includes net additions to the capital stock of society. By
‘capital stock of society’ it is meant those goods which are used in the production of
other goods. This is a gross, societal, or aggregate point of view. In society there are
number of goods (such as building and equipment) which are used to use to produce
other goods, and that these means of production are considered part of the capital
stock of society. For a number of reasons, economists also include inventories (that is,
the goods produced and still in the manufacturers hands) as part of that capital stock.
Thus, a net addition to the capital stock – an investment – means an increase in
buildings, equipment or inventories over the amount of equivalent goods that existed,
say, one year ago at the same time.

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The everyday usage of the term investment can mean a variety of things, but to the
man on the street it usually refers to a money commitment of some sort. For example,
a commitment of money to buy a new car is certainly an “investment” from an
individual’s point of view. But these are so in very general or extended sense of the
word since no rate of return is involved, nor is a financial return or capital growth
expected.

Financial investment is a form of this general or extended sense of the term. It means
an exchange of financial claims – stocks and bonds (collectively termed securities),
real estate mortgages, etc. The term financial investment is often used by investors to
differentiate between the pseudo – investment concept of the consumer and the real
investment of the businessman. Semantics aside, there is still a difference between an
“investment” in a ticket on a horse and the construction of a new plant; between the
pawing of a watch and the planting of a field of corn. Some investments are simply
transactions among people, others involve nature. The latter are “real” investments;
the former are “financial” investments. Investment would imply the employment of
funds with the objective of realizing additional income or growth in value of
investment at a future date.

1.5.1 Investment/Speculation/Gambling:

People usually make investments with a future end date in mind. The length of time
from the date when investments is purchased to the final date can be called the
investors planning horizon, or holding period. A financial asset purchased with a very
short holding period in mind probably is not really an investment – it may be simply a
gamble or a speculation.

A gamble is usually a very short-term investment in a game of chance. The holding

period for most gambles can be measured in seconds. That is, the result of so called
investments are quickly resolved by the roll if the dice or the turn of a card. Such
activities having planning horizons that are far too brief to do the research that should
precede any investment activity,

Speculation typically lasts longer than gambles but re briefer than investments. A
speculation usually involves the purchase of salable assets in hopes of making a quick
profit from an increase in the price of the asset which is expected to occur within a

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few weeks or months. Those involved in speculations are reluctant to refer to this
activity as speculation because they dislike the connotations of the word; the prefer to
refer to speculations as investment activities.

There is no precise dividing line with respect to the length of investment holding
periods that could be used to separate gambles from speculation and speculations
from investments. At its best, investment is well grounded and carefully planned
speculation whereas it is an ostrich–like form of involuntary and unconscious
speculation at its worst. There are no set rules for permanently establishing which
securities are investment and which are speculations. Only constant examination and
vigilance, against a background of knowledge, can enable us to decrease the risks
which are inherent in all forms of ownership.

Speculation is not the same as gambling and the two should never be confused. The
difference between speculation and gambling is that in gambling artificial and
unnecessary risks are created whereas in speculation the risks already exist and the
question is simple who shall bear them. Gambling is a far cry from the carefully
planned research and scientific procedure which underlies the best speculative
practice. The gambler plays rumors, tips, hunches and other unreliable intuitions
which should not play any but a negative role in the trained speculators process.
Speculation is a reasoned anticipation of future conditions. It does not rely upon
hearsay or labels. It attempts to organize the relevant knowledge as a support for
judgments. It is as legitimate and moral as any other form of risk-taking business
activity.

In fact, the whole fabric of our society revolves around speculation. Those who write
and speak most forcibly against speculation are usually guilty of failing to define their
terms. Mere risk assumption is not so long as the size of the risk is known, risk taking
is speculating. Gambling has to do with acceptance of risks (1) for their own sake, (2)
for the object of pecuniary gains, and (3) without knowledge of the exact nature of the
risk. It may be truthfully said that by far the majority of men of the street who take a
“flier” in the market are sheer gamblers.

In the foregoing numerous academic definitions of investment speculation and

gambling, it can be observed that most of them are framed around the following three
differentiating factors:

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 1. What is the motive of the buyer? The investor presumably buys to procure an
annual return under conditions of safety, whereas others buy for appreciation.
2. What type of security is bought – high grade or low grade? The investor
presumably buys high grade securities, the others low grade.
3. How long is the security held? The investor presumably holds for the long
term, the speculator for the short term.

1.5.2 What is Investments Activity?

Investment Activity includes buying and selling or trading in the above claims on
money and/or promissory notes. An investment for one may be disinvestment of
another as in the case of stock market trading or may be fresh investment in a new
issue. In the New Issue Market, one can only buy securities. Investments can also be
made in non-marketable securities or instruments or other avenues discussed in
another Chapter. All purchases of securities are thus investment although for the
economy as a whole, some investments are offset by corresponding disinvestments.
There are two terms which are relevant for this context, namely, Gross Assets and
Investments minus disinvestments for an economic unit. Gross Assets and
Investments minus Depreciation for the economy or a company or Corporate Sector
or Government Sector, is net Investments, which is termed as Capital formation.
Savings and Investments Investors are savers but all savers cannot be good investors,
as investment is a science and an art. Savings are sometimes autonomous and
sometimes induced by the incentives like fiscal concessions or income or capital
appreciation. The number of investors is about 50 million out of population of more
than one billion in India. Savers come from all classes except in the case of the
population who are below the poverty line. The growth of urbanization and literacy
has activated the cult of investment. More recently, since the eighties the investment
activity has become more popular with the change in the Government policies
towards liberation and financial deregulation . The process of liberation and
privatization was accelerated by the Government policy changes towards a market
oriented economy, through economic and financial reforms started in July 1991.

Objectives of Investors
a) Income
b) Appreciation of capital
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c) Safety
d) Liquidity
e) Hedge and inflation.
f) All method of tax planning

The mix of these objectives may also depend on the time frame of his investment.
a) Short-term/day-to-day trading gains.
b) Short – term capital appreciation up to one year (short-term capital gains).
c) Long-term appreciation of more than 1 to 3 years (long-term capital gains).

Investment preferences of public may be set out in terms of their savings for:
a) Transactions purpose (for daily needs or regular payments).
b) Precautionary purposes (for contingencies or special needs).
c) Speculative or asset purposes (for Capital gains and building of assets).

Investment for Consumption and Business. The income is divided into two
components, namely, consumption and Investment. The amounts not consumed are
saved and invested. But investments are also useful for present and future
consumption in the case of consumer durables, cars, gold and silver screen. But
investments generally promote larger consumption in future as they lead to more
income and larger capital appreciation in the years to come. Some investments in
business are used in trade and transport and other services. Thus, doctors, lawyers,
traders etc. spend money for making investments for their business, which lead to
further consumption or income. Investment and Speculation Purchase of assets like
shares and securities can be for either investment or speculation or for both.
Investment is long- term in nature while speculation is short-term. Investment is long-
term in nature while speculation aims only at short-term trade-grains through buying
and selling. Investment is less risky and speculation is more risky. Basically, both aim
at income and capital appreciation. But the difference is in motives and objectives. All
investments are risky to some extent but speculation is most risky as it involves short-
term trading, buying and selling which may lead to profits sometimes and losses at
other times. Investment Opportunities. Investment avenues are manifold and each has
it own risk-return characteristics. Riskless investments in the common parlance are
bank deposits, Government securities, bonds of Government and semi Government
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bodies, post office savings schemes, P.O. Deposits etc., Provident funds and pension
fund schemes, Insurance for life, endowment, accident, etc. The details are discussed
in another chapter. Financial Investments v/s Physical Investment. Many savers will
have their first preference for physical investments which are less productive and
rarely income earning. Such investments are in consumer goods ----- non durables or
durables, gold, silver, cars and antiques and ‘Curios’. These are satisfying the
immediate consumer needs, for comfort, luxurious, social status, ego satisfaction, etc.
Some of them if rented out to others give income and sometimes capital appreciation
also, if the location is at good places or commercial areas. Similarly, gold, silver and
other metals, diamonds, and antiques may present capital appreciation, without giving
any regular income. Some investments are for social status and prestige as gold,
diamonds, jewelry etc. Bank Deposits Commercial and cooperative banks accept
deposits from public in the former of current account which bears no interest, savings
Accounts which bear interstitial varying from 4%% to 5.5% per annum, and fixed
deposits of varying maturities from 15 days to 3 years. The interest rates will vary
from bank to bank but the ceiling rates are fixed by the River up to one year deposits
at present. These deposits are also insured with the Deposit Insurance and Credit
Guarantee Corporation. Besides the operation of the banks, being regulated and
inspected by Richard, the deposits kept with them are supposed to be safer and risk
free. Although the returns are lower, the risk is also lower and risk adverse investors
will prefer investments in these avenues. Next to keeping in cash most savings
generally flow into form of the bank deposits. The average Households in India keep
about 10% of their savings in financial form in cash and nearly 30% in bank deposits
of various forms. But these avenues of investment give a return which is zero in the
case of cash or a return less than or equal to the inflation rate of about 8% per cent
annum which is the average annual rate of inflation in the Eighties and Nineties

1.5.3 Factors Affecting the Investment

Apart from the tax – benefits the investment decisions of an individual are affected by
the following factors:

1. Safety: The very first objective of an investor is to keep his principal amount safe.
The return of the initial amount must be assured. So the credibility of the institutions

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in which one proposes to invest his money becomes more important than any other
oratorio.

2. Profitability: After having assured of the safety of the principal sum – one may
look into the expected returns, taking into account the tax benefits, if any certain
investments such as units give tax free returns to a certain extent. Regularity and
periodicity of returns are also to be considered and therefore one should always think
not of the gross returns but the returns after tax. Sometimes changes in capital values
‘as in case of equity shares which may, generally appreciate in their value over time’
should also be considered to evaluate the profitability of an investment.

3. Liquidity: As investment should be not only safe and profitable but quite liquid
too. Thus can be measured in terms of the quickness of realizing the money back,
whenever one may need it. Current, accounts in a bank and equity shares quoted on
stock exchanges, are very liquid. If there is a loan facility (say up to a specified
percentage of Investment) an investment may be considered liquid to that extent. For
instance, on bank fixed deposit and National Savings certificates we raise loans up to
75 per cent of the value of the deposit.

4. Risks: Every investment is a tradeoff between risk and return and so is exposed to
one or another type of risk. In some cases, certain kinds of risk may be predominant
and certain others may not be that significant. There are five major risks which may
be present in varying degrees in different sorts of investments.
a. Non Payment Risk: The risk of non-payment refers to both the capital and the
interest thereon for all the unsecured loans, like loans on the basis of promotes, fixed
deposits with companies etc. this risk is very high.
b. Inflation Risk: Inflation is the greatest invisible risk. In simple words, inflation
encourages dis savings and luxury consumptions when the prices are shooting up the
purchasing power of the money continuously.

1.5.4 Features of investment

In choosing specific investment, investors will need definite ideas regarding features
which their portfolios should possess. These features should be consistent with the
investor’s general objectives and in addition, should afford them all the incidental
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conveniences and advantages which are possible under the circumstances. The
following are the suggested features as the ingredients from which many successful
investors compound their selection policies.

a) Stability of income
Stability of income must be looked at in different ways just as was security of
principal. An investor must consider stability of monetary income and stability
purchasing power of income. However, emphasis upon income stability may not
always be consistent with other investment principles. If monetary income stability is
stressed, capital growth and diversification will be limited.

b) Capital growth
Capital appreciation has today become an important principle. Recognizing the
connection between corporation and industry growth and very large capital
appreciation, investors and theirs advisers constantly are seeking “growth stocks”. It
is exceedingly difficult to make a successful choice. The ideal “growth stock” is the
right issue in the right industry, bought at the right time.

c) Tax benefits
To plan an investment programme without regard to one’s tax status may be costly to
the investor. There are really two problems involved here, one concerned with the
amount of income paid by investment and the other with the burden of income taxes
upon that income. When investors’ incomes are small, they are anxious to have a
maximum cash returns on their investments, and are prone to take excessive risks. On
the other hand, investors who are not pressed for cash income often find that income
taxes deplete certain types of investment incomes less than others, thus affecting their
choices.
d) Purchasing power stability
Since an investment nearly always involves the commitment of current funds with the
objective of receiving greater amounts of future funds, the purchasing power of the
future fund should be considered by the investor. For maintaining purchasing
stability, investors should carefully study (1) the degree of price level inflation they
expect, (2) the possibilities of gains and loss in investments available to them, and (3)
the limitations imposed by personal and family considerations.
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1.5.5 Success in investment
Success in most things is relative, and not less so in the field of investment. Success in
investment means earning the highest possible return with the constraints imposed by
the investor’s personal circumstances age, family needs, liquidity requirements, tax
position and acceptability of risk. If possible, performance should be measured
against alternative investments, or combinations of investments, available to the
investor within those constraints. Genuinely success also means winning the battle
against inflation, against the fall in the real value of savings and capital.
To be successful investor, one should strive to achieve no less than the rate of return
consistent with the risk assumed. But is this success? If markets are efficient,
abnormal returns are not likely to be achieved, and so the best one can hope for a
return consistent with the level of risk assumed, the trick is to assess the level of risk
we wish to assume and make certain that the collection of assets we buy fulfills our
risk expectations. As a reward for assuming this level of risk, we will receive the
returns that are consistent with it. If, however, we believe that we do better than the
level of return warranted by the level of risk assumed, then success must be measured
in these terms. But care must be exercised here. Merely realizing higher returns does
not indicate success in this sense. We are really talking about outperforming the
average of the participant in the market for assets. And if we realize higher return we
must be certain that we are not assuming higher risks consistent with those returns in
order to measure our success. Thus we are left with two definitions of success:

(i) Success is achieving the rate of return warranted by the level of risk
assumed. Investors expect returns proportional to the risk assumed.
(ii) Success is achieving a rate of return in excess of warranted by the level
of risk assumed. Investors expect abnormal returns for the risk
assumed.
To be successful under the first definition, an investor must have a rational approach
to portfolio construction and management. Reasonably efficient diversification is the
key. To be successful under the second definition, an investor must have at least one
of the following:
Superior Analytical Skill, Superior Forecasting Ability, Inside Information,
Dumb luck

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Whether and to what extent anyone is likely to possess these characteristics and
consistently be able to outperform the market by the level of risk assumed is critical
issue. The investor should be aware of, but not denoted by, the fact that investment
markets, the stock markets in particular, are largely dominated by professional
investors. As a consequence grossly under-valued investments are rarely easy to come
by. Moreover, he should beware of books subtitled. How I made a Million in the
Stock Market, Get Rich Quick and statements such as ‘You can have a high return
with no risk’. In reasonably efficient markets risk and return go together like bread
and butter; in the words of Milton Friedman, there is no such thing as a free lunch.

Success involves planning clearly establishing one’s objective and constraints.

Investments should be looked as in terms of what they contribute to the overall
portfolio, rather than their merits in isolation. Institutional investment will probably
play some part, and performance tables are available to give some guidance. But
personal direct investment should be overlooked, particularly in the obvious area of
true ownership, and one’s own knowledge, skills, hobbies and acquaintances can also
be put to advantage. Remember Francis Bacon’s words: if a man looks sharply and
attentively, he shall see fortune; for though she is blind, yet she is not so invisible.
More money has been lost in the stock market than once can imagine simply because
of the failure of investors to clearly define their objectives and assess their financial
temperaments. In analyzing the portfolios of individual investors, the most common
errors observed are: firstly, portfolio is over-diversified, containing so many issues
that the investor cannot follow closely the developments in those companies;
secondly, many portfolios suffer from over concentration in one or two issues; thirdly,
all too often, the quality of these securities is not consistent with the stated
investment goal and usually a portfolio contain too many speculative securities;
fourthly, many individual investors are afraid to take losses, they want to wait for
their stock to come back to the price they paid; and fifthly, most investors, without
realizing it, do not have a plan. They are buying and selling on tips and believe in
going where the action is instead of sticking to an investment goal; and finally, most
serious of all, some investors consider only profit potential and never the risk factor.
They try to wait for the bottoms to buy and tops to sell, they don’t learn from their
mistakes and sight of their financial goals or the time frame of the investment
objectives, under pressure of hope, fear, or greed.
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Should investor play a winner’s game or a loser’s game while buying securities? To
answer this question, probably the best way to explain it is to use a sport as
illustrations. Let us take tennis. To professionals like Wilander or Lendl, tennis is a
winner’s game. To win, they must deliver the ball to a place where the opponent will
find it difficult to return or play at a speed that the opponent cannot keep us with.
They win the game by delivering winning shots.

According to sports writers, on the one hand, tennis to amateurs is actually a loser’s
game. They do not have the strikes that in any way resemble those of Wilander, Lendl
and other professionals. The best strategy to win a game, they, is to keep the ball in
play and let the opponent defeat himself by hitting the ball into the net or outside the
court. They win the game by losing less than their opponent.

The above analogy clears the distinction between winners and loser’s game. Probably
now the investor can guess whether buying securities is a winner’s game or a loser’s
game. Recently, buying securities has become a loser’s game even if professionals
engaged in institutional investing. For those who are determined to win the loser’s
game, it is required:

(1) Play your own game. Know your policies very well and play according
to them all the time.
(2) Do the things do best? Make ‘fewer’ but ‘better’ investment decisions.
(3) Concentrate on your defenses. Most investors spend too little time on
sell-decisions. Sell-decisions are as important as buy-decisions.
Investors should spend at least equal time in making sell-decisions.

The crucial point of the loser’s game is to put the balance sheet and the income
statement through a fine screen. This is the first step in making sure to avoid a
mistake and will help the investor to keep away from letting the excitement make him
move too quickly. Remember the old saying, ‘A fool and his money are quickly
parted’.

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1.6 SAVINGS
Savings refer to money you put aside for future use rather than spending it
immediately. In addition to the benefits of saving up for future purchases, delaying an
impulse purchase also helps you decide whether it is something you really need, or a
waste of money you will regret shortly after buying. One of the most important things
to save for is unexpected financial emergencies. These can include losing your job,
unexpected health issues or your car or other home appliances breaking down, so you
should have between three and six months’ worth of living expenses set aside. If you
don't have an emergency fund, you may end up having to take out a short-term, high
interest loan or carry a balance on a credit card at a high interest rate. For short-term
savings, you usually want to put your money somewhere safe and any interest you
earn on it is just icing on the cake. Deposit accounts, like savings accounts, checking
accounts certificates of deposit and money market deposit accounts at banks are
covered by the Federal Deposit Insurance Corporation, which means that up to
$250,000 is safe even if the bank goes out of business. If, however, you have a much
longer-term goal, such as retirement, you might think about investing some of the
money in something a little riskier, like the stock market, that can offer a higher rate
of return, suggests CNN Money.

1.6.1 How do Savings Emerge?

Savings are excess of income over expenditure for any economic unit. Thus S=Y-E
where S is savings, Y is income and E is expenditure. Secondly, excess funds or
surplus in profits or capital gains are also available for investment. Thus, S=W2-W1
where W2 is wealth in period 2 and W1 is wealth in period 1 and the difference
between them is capital gains or losses. Thirdly investment is also made by companies
and individuals by borrowing, from others. Thus the Corporate Sector and
Government Sector are always net borrowers, as they invest more than their savings.
Thus, S=B-L where “B” is borrowings and “L” is lending. Savings can be positive or
negative.

1.6.2 Why do People save?

Saving is abstaining from present consumption for a future use. Savings are
sometimes autonomous coming from households as a matter of habit. But bulk of the
savings come for specific objectives, like interest income, future needs, contingencies,
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precautionary purposes, or growth in future wealth, leading to rise in the standard of
living, etc. Impact of Inflation All investments lose in value due to inflation or rise in
prices leading to depreciation of the rupee. When the rate of inflation is about 10%,
the real value of money is lost by 10% every year. The investors have therefore to
protect themselves from this loss of real values of their assets by proper Investment
planning and by securing returns, higher than inflation rate. Some investments give
only income like bank deposits, P.O. Certificates, Company deposits etc. Some assets
show capital appreciation if they are shares in companies or bullion, land and
buildings. Some are safe and liquid, like the investments in Government securities,
bonds of P. S. Us, etc. A new investment like Indira Visas Patna is easily transferable
and marketable. So also shares and securities listed and traded on the Stock
Exchanges. But all the above investments do not satisfy all the needs and objectives
of investors, referred to later, including securing a hedge against inflation. All
objectives of income, capital appreciation, safety, marketability and liquidity as also
hedge against inflation can be secured only by proper investment in corporate
securities. The chart below shows the real rates of return on all investments. In the
long run, investment in capital market gives a higher real return. Investment Activity
At the outset any study on Investment Activity should start with the questions of what
is investment. It means many things to many persons. If one person has advanced
some money to another, it may be his loan which may be considered his investment
for a return. If a person has purchased one kg of gold for the purpose of price
appreciation or a consumer durable like washing machine for the flow of services, it is
his investments. If he purchases an insurance plan or a pension plan, it is an
investment. Thus there are various persons. For the individual, it is the exchanges of
the money or cash for a future claim on money or the purchase of a security of a
promise to pay at a later date along with a regular income as in the case of a share,
bond, debenture, etc. For the issuer of security it is the use of money for fixed capital
equipment’s, working capital or any other unproductive activity. Sometimes, it is also
a service like consultancy, construction, hotel or hospital and services in future, as in
the case of consumer durables.

1.6.3 Factors Affecting Savings

Despite the several motives to save money there are so many factors which affect
savings. Some of them are as under:
17
 1. Level of Income: If the income of the individual is more than his requirement
of money for expenditure then he can save more than that of an individual who belong
to comparatively lower income group.
2. Willingness to save: Level of income of an individual provides capacity to save
one cannot save unless one is not willing to save.

3. Social Security: Willingness to save depends upon the safety and security
structure provided to the men in society. Safety against health, disease, old age,
disablement etc. are the factors which inspire men whether to save or not higher level
of social security leads to lower savings and vice – versa.

4. Population Growth: Growing population creates more demand and the

expenditure there of which ultimately decreases the capacity of men to save. Planned
growth of population establishes the planned structure for savings and investment.

5. Other factors: In addition to the above there may be several factors which
affect the savings e.g. economic system, Ego and Ambitions of the people, Attitude,
and future requirements etc.

18
 CHAPTER II

RESEARCH METHODOLOGY

2.1 Introduction
2.2 Conceptual frame work
2.2.1 Meaning of savings
2.2.2 Investment
2.2.3 Working women
2.2.4 Average income (per capita income)
2.2.5 Debenture
2.2.6 Economic growth
2.2.7 Interest

2.3 Significance of the study

2.4 Objectives of the Study

2.5 Hypothesis of the study

2.6 Research Methodology

2.6.1 Research Design

2.6.2 Data Collection

2.6.3 Sampling Design

2.6.4 Extent

2.6.5 Data Analysis and Interpretation

2.6.6 Source of Data

2.7 Scope of the study

2.8 limitations of the study
2.9 Chapter Scheme

2.1 Introduction:

19
Women‘s income is always considered as a supplementary income within the family.
Usually women‘s work/domestic work is included in the non-productive category in
the earlier censuses – showing that other categories are supposed to be reproductive. It
is universally considered as, women and children in the family are consumers, not
producers. (U.Kalpagam, Labor and Gender, 1994). But the growing importance of
income earned by women raises many interesting issues worth serious consideration.
First, it is related to the share in the total household income. Second is related to their
control over the expenditure of the total household income – that means who took
decisions and what are the decisions etc. Third is, after spending a considerable
amount of earnings, what are the investment tools opted by women to save their
earnings. During this survey, it was found that respondents were highly educated,
typically employed, and almost all have savings and assets. The economic crisis has
heightened women‘s recognition of the need to develop a financial plan that will meet
long-term financial goals. Women are more involved than ever in their households
‘investment and financial decision making. Among the survey respondents, 95% of
women were involved in financial decision-making in their households, and one-
fourth was the primary decision makers. Married women played a key role in the
financial decisions of their households as well. While most decisions were made
jointly, 84% say they were involved in their household‘s financial decisions.

1.2 CONCEPTUAL FRAMEWORK

2.2.1 Meaning of savings: Savings refer to money you put aside for future use
rather than spending it immediately. In addition to the benefits of saving up for
future purchases, delaying an impulse purchase also helps you decide whether it
is something you really need, or a waste of money you will regret shortly after
buying.

2.2.2 Investment: An investment is an asset or item acquired with the goal of

generating income or appreciation. In an economic sense, an investment is the
purchase of goods that are not consumed today but are used in the future to
create wealth. In finance, an investment is a monetary asset purchased with the

20
 idea that the asset will provide income in the future or will later be sold at a
higher price for a profit.

2.2.3 Working women: : In the context of the this study, working women are
those who are gainfully employed in organization sector on the basis of their
academic qualifications such as teacher, doctors, officers, clerks and other white
collared jobs.

2.2.4 Average income (per capita income): It is average income of each

person of the country. It is found out by dividing the total income of a country
by its total population. It indicates the level of income equality among the
citizens of a nation. The per capita income also commonly used to compare
the economic conditions among the different nations.

2.2.5 Debenture: It is long term debt instrument issued by government and

big institutes for the purpose of raising funds. Debentures are negotiable debt
instrument carrying fix rate of interest payable regularly to the debenture
holders and having floating charge on the assets of the company.

2.2.6 Economic growth: A positive change in the level of production of goods

and services by a country over a certain period of times. It denotes over all
development of all the sectors of the economy.

2.2.7 Interest: The fee charged by a lender to a borrower for the use of
borrowed money expressed as on annual percentage of the principle. The rate
is depending upon the time value of the money. It is the income or return
earned on an investment

2.3 SIGNIFICANCE OF STUDY :

Before discussing objectives let us see the significance of the study. The study has
following significance:

The household sector contributes to the capital formation process. Among the
constituents of household sector, working women form an important component.

21
Involvement of women in investment and savings activities improves their social and
economic status as well as increases their contribution to economic development. The
present study is a humble attempt in this direction. The study finds that the women
should be given education through short training courses in order to build up their
confidence in proper selection of investments. It further finds that the government has
to recognize working women as powerful investors and frame special investment
schemes for them. This study tries to identify the needs and preferences which, in
turn, 19 offer inputs to the government to frame appropriate policies for women
investors.

2.4 OBJECTIVES.
Objectives of researcher’s study are based on significance of the study.
Objective of the study are as follows.
1. To study the profile of working women.
2. To analyses source of income of working women.
3. To understand saving pattern of working women.
4. To examine the preference of investment of working women.
5. To study the problem faced by the working while making investment
decisions.

2.5 Hypothesis of the Study:

The following null hypotheses have been set for the study:

H1 working women usually preferred to

invest in gold.
H2 working women do save money.

22
2.6 RESEARCH METHODOLOGY

2.6.1 RESEARCH DESIGN

To Study the savings and investment pattern of

Research Purpose working women with special reference to Mumbai
region

Survey Method Personal Interview and Questionnaire Method

Sampling used Convenience, Simple random and Judgemental

Sampling used

Location of Study Mumbai Central to Borivali

Sample Size 50 respondents

Sources of Data Primary as well as secondary sources of data

collection are used

Interview/survey through schedule and well

Primay Data Collection
structured questionnaire

Frequency Distribution Method and Percentage

Data Analysis
Method

Conclusion will be drawn on logical and critical

Conclusion analysis on the basis of findings of the study and
accorrding to suggetsions given.

2.6.2 Data Collection

a. PRIMARY DATA
The primary data have been collecting on the basis of a questionnaires and
personal interview. The structured close and open ended questionnaires were
distributed to the respondents. The researcher approached to

 50 respondents

23
 on random selection at the selected sample area. For the clear understanding of
the questionnaire, each question was explained personally to the respondents
so that the respondents’ doubts are cleared 50 respondents have been
interviewed.

The respondent’s questionnaire comprises of 15 questions which were

generally multiple choice questions and open ended questions.15 questions
framed in order to judge following things:

 Personal details of respondents

 Their view about their savings and investment patterns
 Any Suggestion on savings and investment patterns

b. SECONDARY DATA
Secondary data included information collected from various internet
download, books, publication and various journals,

2.6.3 SAMPLING DESIGN

A Sample Design is a definite plan for obtaining a sample from a given

population. It refers to the technique to the procedure adopted in selecting items
for the sampling designs.

2.6.4 SAMPLING UNIT

The study aims to measure the investment pattern of individuals on the
basis demographic characteristics. The sampling unit consists of
respondents who are working women of Mumbai.
2.6.5 EXTENT
Extent refers to geographical area where there is a scope of population. The
extent of study is within Mumbai i.e. from Mumbai central to Borivali.

2.6.6 SAMPLING TECHNIQUE

The selection of the respondents was done on the basis of convenience
technique based on the non-probability method of sampling.

24
 2.6.7 DATA ANALYSIS AND INTERPRETATION
The study is based on secondary and primary data collected from
various internet sites and through books and journals. The Primary data has
been analyzed through frequency distribution method and then converted in
percentage. Collected Data has been edited to avoid unwanted information and
arrange the data in the proper order and sequence. property edited data has
been coded and classified to further make it simple by preparing tables, graph,
charts and diagram etc. wherever necessary . An attempt has been be made to
draw proper conclusions on the basis of the data analysis and achieve all the
objectives of research study.

2.7 SCOPE OF THE STUDY:

The study is confined to level of awareness about avenues while making
their investment decisions and the main objectives behind their investment
decisions. The study is confined to the factors considered by the salaried
women investors while their investment in different investment avenues.
Their level of preference, satisfaction, awareness and intensity of problem
were about the various aspects of investment avenues available in the study
area is considered.

2.8 LIMITATIONS OF THE STUDY

The present study has following limitation.

1. The research had been conducted only in Mumbai metro city due to time and
convenience.
2. The research was based on the random and convenience sampling even the
size of the sample may not be adequate enough to represent the entire
population.
3. Despite of knowing the usefulness of the study the respondents were not ready
to give information due to time constrain.
4. Retailers were fearful to part with complete information and actual
information required regarding company and consumer.
2.9 CHAPTERS SCHEME:

25
 Introduction
 Research Methodology
 Literature Review
 Data Analysis, Interpretation and Presentation
 Conclusions and Suggestions

CHAPTER III

26
 REVIEW OF LITERATURE

2.1. Introduction

2.2. Review of Literature related to saving and investment pattern

2.3. Research Gap

2.1. INTRODUCTION

27
A literature reviews a comprehensive collection of the information obtained from
published and unpublished sources of data in the specific area of interest to the
researcher. This may include journals, newspaper, magazines, reports, government
publications, and also computerized databases. Review of literature might also be
useful in solving the decision dilemma. It also helps in narrowing the scope of the
study into research problem. It throws light on the issue under consideration and
contributes significantly in framing the research gap. It also helps in deciding the
virginity of the propose research work.

All the reviews below, provides a narrow vision of current and potential review
related to behavior of saving and investment patterns of working women and
employees without any gender discrimination.

All the articles are reviewed by keeping in mind the objectives of the current research
study.

2.2 REVIEW OF LITERATURE

Charkha, Sanket & Lanjekar, Jagdeesh. (2018) 1 have analyzed in their study that,
The Investment is a type of activity that is engaged in by the people who have to do
savings i.e. investments are made from their savings, or in other words it is the people
invest their savings. A variety of different investment options are available that are
bank, Gold, Real estate, post services, mutual funds & so on much more. Investors are
always investing their money with the different types of purpose and objectives such
as profit, security, appreciation, Income stability. Researcher has here in this paper
studied the different types and avenues of investments as well as the factors that are
required while selecting the investment with the sample size of 60 salaried employees
by conducting the survey through questionnaire in Pune city of, India. Actually, here
the present study identifies about the preferred investment avenues among individual
investors using their own self-assessment test. The researcher has analyzed and found
that that salaried employee consider the safety as well as good return on investment
that is invested on regular basis. Respondents are much more aware about the
different investment avenues available in India except female investors. This Current

1
Charkha, Sanket & Lanjekar, Jagdeesh. (2018). Research Paper - “A STUDY OF
SAVING AND INVESTMENT PATTERN OF SALARIED CLASS PEOPLE WITH SPECIAL
REFERENCE TO PUNE CITY (INDIA)”.
28
study deals with the Saving and Investment Pattern Of Salaried Class People With
Special Reference To Pune City (India).Hence concluded, After the analysis &
interpretation of data by the researcher it is concluded that Investors are very well
aware about investment avenues that are available in Pune , India but still investors
are preferring to invest in their money in bank deposit, real estate . The data analysis
of research reveals that the safety is concerned as important factor while doing
investment, so remaining avenues are less found less considerable while doing
investment by investors. Especially in a city like Pune where Real estate is always on
the high or up, this is not at all bad investment option. But there's no mounted come
back and therefore the risk and quantity of investment is high. It is absolutely
essential and needed to save what you earn, to have a plan for your own future, and to
resist the spending funds that you do not already have

.Conclusion: Hence it is concluded that there is significant relationship between the

incomes

Rammya, B., & Rao, D. R. (March - 2017). 2 Have studied in their title that,
Investment is an economic activity of putting to productive use the money saved, to
earn a reasonable return on the funds instead of keeping it idle undertaking a
reasonable level of risk. The researcher proposes to conduct a study on investment
behavior of women employees working in private companies and develop a simple
model involving a few demographic variables. The objective of the study is to find
out the awareness level and the motives behind investment of women employees in
private companies. The study is descriptive in nature. The researcher proposes to use
statistical tools for analysis. From the study the researcher wants to understand the
awareness level, purpose of investment and the perception about investment with
regards to women employees especially in private companies.

It can be concluded that women have become independent and are in a better position
to choose their investment avenue on their own and to decide where to invest, how
much to invest, when to invest and how to invest. There has been change in the
perception of women and women perceive investing and dealing with money as a

2
Rammya, B., & Rao, D. R. (March - 2017). A STUDY ON INVESTMENT
PATTERN AND BEHAVIOUR OF WOMEN EMPLOYED IN PRIVATE
COMPANIES IN BANGALORE. INDIAN JOURNAL OF APPLIED RESEARCH -
ORIGINAL RESEARCH PAPER, Volume - 7(Issue - 3), issn - 2249-555x, 414-417
29
pride issue and a self-esteem factor which would command respect for them, increase
their self-confidence and ultimately lead to improvement in the standard of living.

PATEL, C. P., & PATEL, C. V. (October, 2013) 3Investment is the employment of

funds with the aim of getting return on it. It is the commitment of funds which have
been saved from current consumption with the hope that some benefits will accrue in
future. Thus, it is a reward for waiting for money. So the first step to investment is
savings. In common usage, saving generally means putting money aside, for example,
by putting money in the bank or investing in a pension plan. In a broader sense,
saving is typically used to refer to economizing, cutting costs, or to rescuing someone
or something. In terms of personal finance, saving refers to preserving money for
future use - typically by putting it on deposit – this is distinct from investment where
there is an element of risk. The main elements of Investments are Return, Risk and
Time.

This research aims to study and understand the behavioral pattern of investment
among the salaried people working in private sector and the difference in perception
of an individual related to various investment alternatives. It also aims to provide an
insight into factors considered for an appropriate investment. Gives a wider scope to
understand various issues related to investment in salaried class people.

Hence it can be concluded the economy is prospering, the job market is booming and
salaries are touching a new high. The new breed of Indian youth has its pockets full
and is intelligent enough not to let its money rust in bank accounts. Investment is on
their mind and an option that has the potential to multiply their savings and provide
maxi-mum tax rebate is the one they crave. Traditional saving options like post office
schemes and fixed deposits are now passé. ―Options like post office schemes and
fixed deposits are not very popular with the youth as the rate of interest on them is
lower as compared to other in-vestment options available. Safety and security which
were once upon a time the main reasons for investment are no longer the major
criteria that determine the choice of investment. With money in hand and age on their
side, the young investors are not hesitant in taking risk. ―Fixed deposits are not a
very attractive investment option for youngsters these days. Most of the people who
3
PATEL, C. P., & PATEL, C. V. (October, 2013). A STUDY OF INVESTMENT PERSPECTIVE
OF SALARIED PEOPLE (PRIVATE SECTOR). Asia Pacific Journal of Marketing &
Management Review, 1(2), issn 2319-2836, 136-146.
30
opt for fixed deposits are senior citizens is revealed in one of the surveys conducted in
India. Saving tax is one of the major reasons behind investment by the youth.
Traditional saving schemes do not provide any tax benefits and are, therefore, keeping
the youngsters away from them. ―Why should I invest in fixed deposits and post
office schemes when they provide no tax rebates and the rate of return on them is
fixed and also lower than other investment options,‖ is what Young saver and investor
has to say. Mutual fund is the most favored option of the youngsters today. ―The
stock market is doing so well. I am a little apprehensive about investing directly in the
stock market but at the same time I want to avail of the benefits of the rapidly rising
stock market. So, mutual funds are the best option for me is what a 30 something
Investor has to say. Investment in mutual funds through the Systematic Investment
Plan (SIP) is a favored investment option for the youngsters. This is especially true of
the young salaried class which has just started earning and does not have a fat bank
balance as yet. ―In case of Systematic Investment Plans, instead of bulk payment, a
small amount is to be paid every month. This makes them very popular with the
salaried class who find it difficult to shell out a large amount at one go. Real Estate
market is also the one which youngsters prefer after all the above ones. Especially in a
city like Mumbai where Real estate is IRJC Asia Pacific Journal of Marketing &
Management Review Vol.1 No. 2, October 2012, ISSN 2319-2836
www.indianresearchjournals.com 143 always on the high or up, this is not at all bad
investment option. But there is no fixed return and the risk and amount of investment
is high. Other Traditional Investment option like the Fixed Deposit or the Post Office
schemes (PPF/ NSC / NSS/ KVP/IVP) are losing their way due to blocking of funds
and lower returns. Gold is still preferred to some extent especially when it comes to
females. Due to rise in price of gold from somewhere around 4,000-5,000 in 2003 to
around 17,000 in 2010, gold is still shining as an investment option. Youngsters today
are aware of what is happening around them and are intelligent enough to decide what
is best for them. Every option is considered and the pros and cons of each weighed
carefully before the decision to invest the hard-earned money is taken.

31
T, HEMLATHA. M., & S, PAVITHRA. (July – Sept 2018] 4‘Women should start
thinking and understanding the importance of money, savings and its investment
aspect to avoid critical situations at any stage of their lives. They need to develop
skills to plan for their financial needs. Generally women tend to keep cash idle rather
than investing it. They tend to think that this “idle cash” can be easily used to meet
expenses beauty parlors, jewelry etc. The respondents of research study consists only
those people who earning fixed Income as salary so the study included only salaried
group of women employees. The Investment pattern of the salaried women employees
is different due to safety, regular flow of income, tax saving benefits, security,
retirement benefits rather than professionals and businessman. The study is based on
savings and investment pattern of salaried women in Coimbatore district. The study is
based on primary data which are collected by distribution of a close ended
questionnaire. The data has been analyzed using percentage analysis, Friedman rank
test. Keywords: Women, Investment pattern, Savings, Coimbatore

Hence it is concluded that this research has been conducted on the salaried women
investors and a study of their investment behavior, it becomes important to understand
the different types of investors. Women Investors have their own investing styles:
some are risk takers by nature, willing to gamble large amounts of money on highly
speculative investments. Others prefer the safety and security of cash in the bank even
if it means that the actual buying power of their money is slowly dwindling because
of inflation. Most people fall somewhere in between these extremes, and are willing
to assume some risk, with the expectation that they’ll be rewarded with higher returns.
The success of every investment decision has become increasingly important in recent
times, making sound investment decisions require both knowledge and skill. The
salaried women investors have different expectations from the investment as their
needs different such as savings, safety, and the interest and value appreciation. The
research identified the level of preference, level of awareness, level of intensity of
problem, and level of satisfaction towards investment. Investors describe safety of
funds as their priority for choosing an investment. so, the government should provide
more investor protection.

4
T, HEMLATHA. M., & S, PAVITHRA. (July – Sept 2018). A STUDY ON SAVINGS AND
INVESTMENT PATTERN OF SALARIED WOMEN IN COIMBATORE
DISTRICT. International Journal of Research and Analytical Reviews, 5(3), issn 2348 –
1269, 143-148.
32
Mittal, D., & Aggarwal, N. (2017)5 every person has to work to earn money to meet
their needs. Different persons do different jobs. Some people do business, some do
labor jobs and some persons do office jobs to fulfil their needs. They get money for
their efforts. They invest their money to get extra return. Every person wants to invest
for better future out of their earnings. Investment is that part of money which is
invested in a security or property with an aim to earn future returns. The returns may
be in the shape of interest, dividend or profit derived from that security or property.
There are different types of investment such as fixed deposits, post office saving
schemes, P.P.F. bond, stocks, real estate etc. Investment is being done by both men
and women. Most of the men prefer to invest in equity shares, real estate and fixed
deposits. They invest with an aim to get appreciation in capital, wealth creation,
retirement purpose and education and marriage of children etc.
In the past, women were investing, mostly in gold, Jewelry, ornaments etc. Presently,
the attitude of women towards investment has been changed. They are more educated
and aware about investment avenues. They are now investing in post office saving
schemes, fixed deposits, real estate, mutual funds apart from gold and silver. The
income and education level of women has been increased many folds. They are now
at par or even above them. They are taking investment decisions independently.
Most of the women see themselves as savers rather than investors and prefer to invest
in products that offer guaranteed returns. Some investment avenues are risky, less
risky and some are risk free. The investors choose investment Avenue according to
their want, risk and attitude capacity and accepted return. When the investors want
high return they have to choose the risky investment avenue. Compared to females,
males prefer to invest in investment avenues that are risky. Women’s income is
always considered as a complementary income within the family. But growing
importance of income earned by women raises serious consideration. Women are
more involved than ever in their household’s investment and financial decision
making. But there are many factors like marital status, education, and age etc. which
affect investment decision of women. This study tells about the relation of different
factors and investment decision of working women.

5
Mittal, D., & Aggarwal, N. (2017). Investment behavior of Working Women---A
Study of Ludhiana district in Punjab. International Journal Of Business Management,
3(1), issn no. 2349-3402, 2163-2170.
33
1. Principal, Depts. of Management, Chandigarh Group of Colleges, Jhanjheri,
Mohali.
2. Nidhi Aggarwal, Assistant Professor, R. S. D. College, Ferozepur City
Findings of the research work are as under:
 Government and SEBI should take steps for the awareness of women
investments.
 There should be common grievance cell when they are cheated and
misguided.
 It is suggested that, Government should take necessary step to
publish magazine like Business Line, Financial Express and Business
world etc.
 The employers should organize investment and financial awareness
programme by experts in offices.
 Government should start more innovative projects like “Mahila Bank’
where everything is being done by women. They can make
investment in these banks.
 Women should take help of reliable certified financial planner for
making good investment decision and ideal portfolios.

SHUKLA, N. S. (February 2018). 6 Women in India are now actively participating

in all activities such as education, politics, media, science and technology& becoming
financial independent. With a changing scenario, women has started actively
participating in investing their surplus money, though it all depends upon the various
parameters such as degree of their risk taking capability influence of family members
and friends and the dare to get exposed to modern and innovative investment avenues.
The research study is focused on the analysis of investment preference of working
women of north Gujarat region. With that the research determines Women’s
awareness about different avenue & the factors affect their investment decision.

Hence it is concluded from the study it is evident that working women invest in
various investment avenues. In addition to that understanding the demographics with
the help of the Chi-Square test, it was found that there is no relationship between

6
SHUKLA, N. S. (February 2018). A Study of Investment Preference of Working
Woman of North Gujarat Region. IJSART, 2(2), 2395-1052, 68-73.
34
education with investment while there is significant relationship between Age and
Income.

7
PARTHIBAN, U. (2018). Women play a pivotal role in the overall progress of a
country. They have the potential to change their own economic status, as well as that
of the communities and countries in which they live. In India there are 591.4 million
women as against 628.8 million men as per the census 2011. Traditionally, the right to
make investment decisions normally belongs to men. The status of women in India
has been growing over the past few decades. Key words: women investors,
investment behavior, savings, investment. “Investment” refers to the employment of
funds to assets with the aim of achieving additional income or growth in value over a
given period of time. The funds allocated by the investors to various investment
avenues depend to a large extent on the investment pattern, preferences, risk-return
perceptions and the various investment objectives perceived by them. Investors differ
in their pattern of investment, preferences, perceptions and objectives for investment.
Behavioral finance is a new approach to financial markets that has emerged in
response to the difficulties faced by traditional paradigm, and focuses on investor’s
behavior and decision-making process the investment behavior of the women
investors are analyzed in this research paper using the data collected from the
respondents. Rajarajan V3, (2009), conducted a study with the objective of analyzing
the investor’s life styles and to analyze the investment size, pattern, preference of
individual investors on the basis of their life styles. The investors were classified into
3 groups’ viz., active investors, individualists and passive investors. Cluster Analysis,
Correspondence Analysis and Kruskal Wallis Test were used to study the association
between lifestyle groups and the various investment related characteristics. The study
revealed that the level of expenses, earnings and investment were associated with the
size of the household. Kabra, G., Mishra, P.K. and Dash M.K. (2010), have studied
the factors effecting investment behavior and found that investors age and gender are
the main factors which decide the risk taking capacity of investors. Aged people
prefer less risky investment and the young people were ready t o take risk to earn
more income. Syed Tabassum sultana (2009) analyses the characteristics of the Indian

7
PARTHIBAN, U. (2018). A Study on Investment Behavior of Women Investors in
Chennai City. Retrieved from https://shasuncollege.edu.in/wp-
content/uploads/2018/10/5.-A-STUDY-ON-INVESTMENT-BEHAVIOUR-OF-
WOMEN-INVESTORS-IN-CHENNAI-CITY.pdf
35
individual investors. He also made an attempt to discover the relationship between t h
e risk tolerances level and age, gender of an individual investor on the basis of the
survey. The study found that irrespective of gender, 41 per cent were found low risk
tolerance and others have high risk tolerance. Ajmi Jy.A. (2008) analyzed the
determinants of risk tolerance of individual investors and concluded that men are less
risk averse than women, less educated investors are less likely to take risk and age
factor is also important in risk tolerance and also investors are more risk tolerance
than the less wealthy.

The study was conducted during the period of the research work. The study aimed at
identifying the most and the least influencing factors of the women investors. Simple
Random sampling method was used in the study and a sample size of 60 women
investors was taken for the study. This research also has the limitation that it just
looks into the behavioral determinants of one type of women investors.

Bhardwaj,, Dr., Sharma, 2., & Sharma, Dr. (Jan - March 2013). 8 In developing
countries where agriculture holds a key position savings have been accepted as one of
the crucial factors affecting the process of economic development. But by a large
there is an impression that marginal propensity to consume is high among employees
of Bahra University and their capacity and desire to save is low. The impression has,
however, not been scientifically tested and substantiated due to lack of reliable data
on income, consumption and saving behavior of employees working with Bahra
University in Solan District. It is because of this reason that the study has been
undertaken on the employees of Bahra University.

It can be inferred from the study that majority of the employees (80) have knowledge
about the industrial securities, cross-tabulation of knowledge about securities and
income level reveals that as the income of the employee’s increases, awareness about
securities also increases. Though 80 percent of the employees are aware of industrial
securities but only 8 percent of them are investing in it. Further, analysis shows that
some employees have invested in equity shares and very few in debentures while
most of the employees do not invest in industrial in industrial securities. Further, none
of the employees are satisfied with such investments. Thus at last it could be
8
. Bhardwaj, Dr, Sharma, 2. & Sharma, Dr. (Jan - March 2013). Income, Saving and
Investment Pattern of Employees of Bahra University, Solan. IJMBS, 3(1), | issn :
2231-2463, 137-141
36
 concluded that most of the employees are aware of investments in securities but they
are not investing in it as they consider it as an unsafe investment.

9
N, D., DR., M, I., DR., & J, M. (October, 2014). Women may invest either in
financial or non-financial investments; many women are willing to work. They have
got independence in earnings, savings and investment. It is confined to factors
influencing the investment behavior, their level of awareness their preference towards
a particular mode of investment and difficulties faced by them. The main objective of
this study, to analyze the level of awareness of the respondents, to analyze the factors
influencing particular investment channel, to analyze the significant relationship
between awareness about various investment avenues and level of benefit to the
investors. The area of study is extended to Dindigul district only. Data have been
collected from 300 working women in Dindigul district. In this study most of the
respondents save and invest to avail tax relief. Investors describe safety of funds as
their priority for choosing an investment.

Hence it is concluded from the success of every investment decision has become
increasingly important in recent times. Making sound investment decisions require
both knowledge and skill. The working women investors have different expectations
from the investment as their needs differ such as savings, safety, interest and capital
appreciation. The researcher identified the relationship between the factors
influencing the level of awareness of various investment and factors influencing the
benefits. Investors describe safety of funds as their priority for choosing an
investment. So the government should provide more investor protection tools like
better laws and regulations.

9
N, D., DR., M, I., DR., & J, M. (October, 2014). Investment Pattern of Working
Women in Dindigul District. EUROPEAN ACADEMIC RESEARCH, II (7), issn
2286-4822, 9073-9082.

37
SHAHLA, & MAHAMMAD, T. P. (NOVEMBER 2016). 10 The status of women in
India has been many ups and downs. Indian economy to a great extent is characterized
by large number of people working in unorganized sectors as unorganized workers.
Transitional nature of the Indian economy, disparity in education, skill and training
are some of the major factors a betting such a large concentration of workers in an
area most vulnerable to exogenous economic vicissitudes. Women working in
unorganized sector deserve a separate mention as they are much marginalized.

A lot has been written about the India growth story; relatively little, however, about
the ongoing radical transformation in the Indian economy. This transformation has
much to do with women rather than men; inclusion today and growth tomorrow.
When you look back on the history of a woman's position in society, no matter what
class you look at, females have always been looked upon as second class citizens.
Women have always given stereotypical working conditions of cooking, cleaning,
childcare. A woman has the capability of handling herself along with the family. At
the present day women not only manage household work but also work outside the
boundaries of house. This makes Women as multi-tasking experts. They earn and
spend for their necessities. No wonder women are shopaholics and they spend what
they have earned. But it is also necessary to save a part of income for future purpose.
Hence this study concludes that due to the transition in the role performance of
women labor workers they face many adjustment problems when they play a dual role
at their working places as well as their homes. Majority of the respondents are from
Nuclear family. This implies that in this region the Joint Family system is slowly
reducing its practice. If we look into the savings of the respondents, we find that
savings are accounted to be very low as because of their low occupational status and
low income. All the income is spent on consumption and it is very difficult to bear the
cost of education of their dependents. The increase in the financial institutions like
banks, microfinance institutions, self-help groups and other local banks provide an
opportunity to save more. The increase in awareness among the people for their future
security has made people inclined to save. Most of the respondents prefer medium
10
SHAHLA, & MAHAMMAD, T. P. (NOVEMBER 2016). SAVING HABIT AMONG
LABOUR CLASS WOMEN - A STUDY WITH REFERENCE TO LABOUR WOMEN IN
SELECTED REGIONS OF MANGALURU CITY. INTERNATIONAL JOURNL OF
SCIENCE TECHNOLOGY AND MANAGEMENT, 5(11), ISSN(P)2394-1529, 29-40.

38
returns on their savings invested with minimum risks. There must be a proper channel
of agents who can advise or council these people regarding savings.
Jain, R. (December 2014).11 The research study is based on the analysis of income
and investment pattern of the respondents i.e. working women in the city of
Ahmedabad .The objective of the study was to determine the relationship between the
income and investments pattern among respondents. The study was conducted on
working women across both government and private sectors in the city of
Ahmedabad. The data was collected by distributing a structured questionnaire to 250
respondents. It has been found that majority of them preferred to invest their savings
in fixed deposits with banks for the safety of a volatile future followed by investing in
gold. The major impact on savings is due to the level of income which has
considerably increased in the last decade.

Therefore it concludes that it make your long-term financial health a priority. Make a
detailed list of your assets (including all accounts and beneficiaries) as well as your
debts and obligations. Make a list of your financial goals, and the timeframe for
reaching each one. While outlining assets, liabilities, financial goals, and timeframes
is a big step, you still need to develop a formal written plan for getting there. Focus on
retirement, but plan for all of your major goals. Decide whether you are most
comfortable saving and investing on your own, would like to work collaboratively
with an advisor, or would prefer to turn the financial planning and asset management
over to a financial professional more fully Work with people you trust—those who
will help you make the right level of progress, and inspire confidence that you are on
track to a successful future.
12
Vanishree, S. P. (December 2017) Financial markets help in accelerating
investment activities in the country. Investments can have a major impact on an
investor's well-being. There are a large number of women investors who have the

11
Jain, R. (December 2014). AN ANALYSIS OF INCOME AND INVESTMENT
PATTERN OF WORKING WOMEN IN THE CITY OF AHMEDABAD. -
International Journal of Research in Management & Technology, 4(6), issn: 2249-
9563, 139-146.
12
Vanishree, S. P. (December 2017). A Study on Investment Behavioral Patterns of
Women Investors. CVR Journal of Science and Technology, 13, issn 2277 – 3916,
107-110.

39
ability to make investments in insurance, gold, real estate, bank deposits, share
market, provident funds, chit funds and post office. Each of these investments has
common features like potential returns and risks. A great number of women are being
employed and their attitude towards investment avenues is also changing. Instead of
keeping their savings idle, women are showing keen interest in investing their money
saved in various investment avenues to get returns and to meet present and future
expenditures. With more autonomy in decision making, women are playing a pivotal
role in socio-economic growth of the country. Women are playing more active
economic role due to diverse reasons such as recent global financial crises and more
men are losing jobs due to recession in the economy and automation of jobs.

This research concludes that women are more concerned about meeting their
immediate expenses like medical expenses. Therefore women investors prefer short
term investments rather than making provisions for long term benefits. Though there
has been an increase in the number of educated working women, they are still mostly
dependent on their family members, friends and relatives for investment related
information and for taking investment decisions. Women do not want to take much
risk while making financial investments and therefore opt for safer investments like
bank deposits and gold rather than investing in shares and bonds. As women investors
want to create more wealth to meet short term expenses, they want funds to be easily
available whenever required. The government must strive to promote financial
literacy through its public policies so that women can have better financial planning
skills.

13
Bani, S. (November - 2016) India has already begun the movement of women
education and women empowerment. In this race of being empowered, one of the
major contributing factor is being economically strong with sound decision making
capacity in financial matters. This can be achieved when they become financially
literate. The study found working women have better knowledge of fixed deposit,
saving account and recurring account, whereas they are poorly acquainted with risky
investments like shares, mutual fund etc. Credit products like vehicle loan and
13
Bani, S. (November - 2016). A STUDY OF FINANCIAL LITERACY OF
WORKING WOMEN OF RAIPUR CITY. International Journal of Recent Trends in
Enginee Ring & Research (IJRTER), 2(11), [issn: 2455 - 1457], 154-160.

40
housing loan are well known by them. Though they know about the importance of
health yet very few hold the health insurance. This research paper concluded with an
emphasis upon the financial literacy among working women. This will make them
better manager of their money and thus, better empowered.

Hence this study is concludes that it is well known that financial wellbeing of women
is one of the pillars of her empowerment. Financial wellbeing depends on her sound
financial decisions which in turn depend on her knowledge and financial literacy.
From the study, it can be concluded that working women have good basic knowledge
about risk free investment products like FD, Saving account and RD. They are found
to be more inclined towards saving account .They have very less basic knowledge
about risky investments like shares& bonds and mutual funds. NPS scheme is very
poorly known among them. However, credit products like housing loan, vehicle loan
and personal loans are better known among the respondents. Vehicle loan shows a
high percentage of holding, House loan and credit cards show moderate percentage of
holdings and holding of educational loan and reverse mortgage loan are in single digit
percentage. So, it can be concluded that with the growing participation of women in
the working population of India and with the increasing need of their empowerment,
they ought to be financially literate. This, in turn, suggests that women investors need
to be exposed to better financial education. This will surely give a momentum to the
journey of women empowerment .Only 100 working women participated in the study
and it has been done only in Raipur city The study does not consider the investment
option of gold, real state ,debentures etc. This study does not consider the calculation
of interest/income, time value of money, diversification of investment and cost benefit
relation. .All other limitations of survey method are applicable.

14
Magesh P., & Ashraf P. (Dec/2017) Women empowerment through employment
is Centre of attraction for the economic era and there are varied debates on the same.
However, are these employments done by women make any difference in their life?
Are working women different from non-working in economic and social actions?
These questions are still noteworthy and less explored in different contexts, since the
14
Magesh P. & Ashraf P. (Dec/2017). A COMPARATIVE ANALYSIS OF INCOME
AND EXPENDITURE PATTERN OF WORKING AND NON - WORKING
WOMEN IN TAMILNADU. IAETSD JOURNAL FOR ADVANCED RESEARCH IN
APPLIED SCIENCES, 4(7), issn no: 2394-8442, 166-173.
41
contexts can influence the answers. Thus the study assesses the income and
expenditure pattern of working women and compares them with the case of a non-
working category. The results are obvious and not surprising that, there are significant
differences between working and no Gender studies and women empowerment is
certainly the talk of India.

Across the globe, educating women and giving them the ability to stand on their own
feet has been a priority. In India too, the debates are in the same track. It is then
assumed that if women are allowed to gain access to education, they can make a huge
impact in enhancing the productivity of the economy and they can contribute
significantly to the growth and development of India in multifaceted ways. Provided
the scenario, working women of today are, therefore, doing a double shift, which
consists of taking care of the house on the one hand, and the work for which they get
the wages on the other hand, outside the periphery of their duties as house wives.
They are expected to play the traditional role of housewives along with bringing
money for the family. In this context, this study attempts to discuss the pattern of
income and expenditure of women as two groups on the basis of their working status.
Thus it will address women’s contribution to the total household income and their
relative freedom to spend money which affects their spending choices. Since the study
accommodate non-working women also, the workings of running the households by
women even without a regular income will also be examined as a counterpart to the
same role played by a working women.
The study hence concludes clear economic attributes variation between working and
non-working women, whereas social attributes are similar between them. It implies
that the social circumstances of women are similar for all in the modern urban
context, especially the incidents of education and state of generation. It is also evident
that the women’s economic life can be certainly influenced by a job as it consequently
enables them to be independent and decision maker in their family or societal context.
It is noteworthy that the medical expense like crucial expenditure of life is having
strong connection with the working status of women, although the monthly income
the family is alike for all. In other words, a better family income does not necessarily
lead to increased health expenditure, though the women are supposed to undergo
periodical medical evaluation for natural reasons itself. It means that the access to
better medical facilities via increased medical expenditure (which of course

42
debatable) is positively connected to the working women only. At the same time,
relatively less important expenses like cloth expenditure remains equal among
working and non-working women, indicating that there is misled orientations, may be
backed by no role for women in economic affairs of the family. Further, the study
affirm the positive relation between working status and living status of women, as
working lead to better living place and vice versa. In the same way, there exists
significance difference in number vehicles and other similar home appliances owned
among the working and non-working women.

15
Sreelatha, R. K., & Lalitha, N. (2015). Many individuals find investment to be
fascinating because they can participate in the decision making process and see the
results of their choices. Not all investments will be profitable, as investors will not
always make the correct investment decisions over the period of years, however, one
should earn a positive return on a diversified portfolio. Investment is one of the major
issues of the middle class families as their small savings of today are to meet the
expenses of tomorrow. Everyone makes investments. This study examines the
investment pattern and awareness of the women investors about different investment
instruments such as bank deposits, small savings, life insurance schemes, bullions,
corporate security- bonds, mutual funds, and equity and preference shares, pension
plan, a home or some other mode of investment like investing in Real Estate
(Property) or in saving schemes of post offices. Each of these investments has
common characteristics such as potential return and the risk associated with it. The
key to a successful financial plan is to keep apart a larger amount of savings and
invest it intelligently for a longer period of time. Hence keeping this in mind, this
paper aims to study the awareness and preferences of working women as investors for
different investment options available to them and to analyze the factors influencing
their perception and preferences. More specifically, an attempt has been made in this
article to measure the level of awareness of investors about several pre-identified
investment products and to rank the investment products on the basis of importance of
parameters considered before investment is made. This research also finds the impact
15
Sreelatha, R. K., & Lalitha, N. (2015). Investment pattern of working women in the
twin cities of Hyderabad and Secunderabad – A study. ASIAN JOURNAL OF
MANAGEMENT RESEARCH, 6(1), issn 2229 – 3795, 223-242.

43
of age, qualification and work experience on the income level of the individual on
investment. The present study also focuses on finding out the various options
available for women investors and the factors which affects their decision. The study
also concentrates to identify the differences in the perception of investors in the
decision of investing on the basis of age, occupation, educational background and
income level and to find out their attitude towards risk and return. It is observed that
among all investment avenues, investments in Provident Fund followed by Post
Office MIS (Monthly Investment Schemes) are considered to be the safest and most
preferred by the respondents.

16
Geethu G., Gopi D. & Preetha R. (2018) Investment is an activity confined to
specific financial aims of investors. It’s the path through which smart money are
transferred from the surplus area to the deficit. The money is deposited by the investor
with the diverse intention such as appreciation, return and safety. This study attempts
to understand the investment preference of salaried group of people working in
Private sector of shipping industries in Ernakulam District. The studies were
conducted by a structured questionnaire issued to the 100 salaried employees of
shipping industries in Ernakulam district. Convenient random sampling method is
used for selecting the sample of 100 employees from ten shipping industries in
Ernakulam. The collected information was analyzed by using different statistical
tools like T test, Chi Square analysis, correlation analysis and percentage analysis
.The major findings of the study suggested most of the employee’s savings are
directed to their personal expenses such as child’s education, marriage etc. They are
tending to risk adverse investors.

Hence it concludes that at the present time, the salaried workforce have started realize
the significance of money and its prosperity They started scheduling their own
financial plan for the projected expenses and compare it with the actual expenditures
met by them, so that they are not involved by any other attractive and fashionable
directed to their personal expenses such as child’s education, marriage and retirement
plans.

16
Geethu G., Gopi D. & Preetha R. (2018). An Insight into the Savings and
Investment Pattern of Salaried Employees Working in Private Sector of Shipping
Industries at Ernakulam. International Journal of Pure and Applied Mathematics,
118(8), issn: 1314-3395, 1347-1364.
44
 17
Shanthi G., & Murugesan R. (2016) the investors have a lot of investment
avenues to park their savings. The risk and returns available from each of these
investment avenues differ from one avenue to another. The investors expect more
returns with relatively lesser risk s. In this regard, the financial advisors and
consultants offer various suggestions to the investors. Investment is an activity that is
engaged in by people who have savings i.e. investments are made from savings, or in
other words people invest their savings. A variety of investment options are available
such as bank, Gold, Real estate, post services, mutual funds and so on. Investors are
investing their money with the different objectives such as profit, security,
appreciation and Income stability. Researcher has studied the different avenues of
investments as well as the factors while selecting the investment with the sample size
of 60 respondents by conducting the survey through questionnaire in Namakkal
district, Tamilnadu. The study is based on personal interviews with salaried women
employees using a structured questionnaire. The study is based on primary data which
are collected by distribution of a close ended questionnaire. The data has been
analyzed using percentage analysis and chi-square test. The researcher has analyzed
that salaried women employees consider the safety as well as high return on
investment on regular basis.

Hence this report concludes that is a reflection of the behavior of various categories
women investors. Selection of a perfect investment avenue is a difficult task to any
investor. An effort is made to identify the preferences of a sample of investors
selected from large population. Despite of many limitations to the study I was
successful in identifying some investment patterns, there is some commonness in
these investors and many of them responded positively to the study. This report
concentrated in identifying the needs of present and future investors, investors’
preference towards various investment avenues are identified based on their income.
Investors risk in selecting a particular avenue is dependent on the age of that investor.
This study confirms the earlier findings with regard to the relationship between Age
17
Shanthi G. & Murugesan R. (2016). INVESTMENT PREFERENCES OF
SALARIED WOMEN EMPLOYEES. INTERNATIONAL JOURNAL OF ADVANCE
RESEARCH AND INNOVATIVE IDEAS IN EDUCATION, 2(2), issn (o) - 2395 -
4396, 1844-1851.

45
and risk tolerance level of individual investors. Women are less likely to take
investment risks for whatever reason many women are less willing than men to take
risks. The Present study has important implications for investment managers as it has
come out with certain interesting facets of an individual investor. The women investor
still prefers to invest in financial products which give risk free returns. This confirms
that Indian investors even if they are of high income, well educated, salaried,
independent are conservative investors prefer to play safe.

Vijayabanu, C., Therasa, C., Sharma,, N. M., Saigeetha, S., & Pratheesha, M.
(July 2016).18The purpose of this research work is to examine the significant
difference between the saving pattern and spending pattern of the Petti shopkeepers in
rural areas of Thiruvallur district in India, to know the demographic characteristics of
them and to examine how much they are willing to control on their spending.

Methods/Analysis: We found that a survey method will be the right one to do this
research work to make regional comparisons. To capture data on various parameters a
questionnaire was prepared. Financial flows are associated with using the
questionnaire basis. In saving and spending patterns of the rural people, mainly the
Petti shop keepers chosen as our respondent. A questionnaire was collected from 50
Petti shopkeepers.

Findings: Most of the petti shopkeepers are male when compared to the female petti
shopkeepers. The income is mostly between Rs.20000-30000. The majority of the
people prefer cash as their saving pattern. Their savings is about Rs.6000-9000 which
is nearly one third of their income. Most of their savings are converted into
investment in their business and prefers home appliances as their spending. From their
viewpoint, home appliances are the necessity goods and other items are considered to
be luxurious goods. They show their interest in expanding their business instead of
spending on other items. Because it is very vital for improving their standard of
living.

Vijayabanu, C., Therasa, C., Sharma,, N. M., Saigeetha, S., & Pratheesha, M. (July
18

2016). A Study on the Perspectives of Saving and Spending Pattern of the Petti
Shopkeepers in Rural Areas of Thiruvallur District. Indian Journal of Science and
Technology, 9(27), 0974-6846, 1-4.
46
Applications/Improvements: The study will be an eye opener for the economist,
government officials and social activist in enhancing the welfare measures of Petti
shopkeepers in Thiruvallur district.

India is one of the developing countries. In which, the saving rate has been a
consistently increased. According to the international standpoint of view when it’s
compared with other developing countries, India has a higher saving rate. The saving
and spending are the part of the income. For the economic growth, saving is the
important variable and for the good development of the country. Saving is an
important macroeconomic variable. Saving is the economic activity, which plays the
important role of the group or the individual. There is a differ from the rural to urban
regions in the pattern of saving and spending and its determinants. The study deals
with the saving and spending pattern of the Petti shop keepers in the rural areas of
Thiruvallur district.

Hence it is concluded that there is a great significant difference between the saving
and spending pattern of the Petti shop keepers in the rural areas of the Thiruvallur
district. They involve in the saving for their future. There is saving is more than they
spend. Nearly the half of their income is spent on investment.

Naranbhai, A. V., & Sahayak, V. (March 2018).19This research paper is emphasis

on working women of Kachchh district. In Kachchh women are engaged in various
economic activities like banks, ports, free trade zone, art workers, farming etc. and so
much more activity is there. As we all know that role of women is changing now a
days from a house wife to business women or entrepreneurs. Since the last 10 to 15
years, this situation has been changing. Now days working women are working
efficiently and sincerely with compared to men or if it we can say that women
working more efficiently than male, it wouldn’t be an exaggeration. This study aims
to focus on investment awareness and preferences available to working women with
special reference to Kachchh district, Gujarat, India. The study is based on female
employees only who are working in government and private sector organizations. For

Naranbhai, A. V., & Sahayak, V. (March 2018). A Study on Investment Awareness

19

among Working Women in Kachchh district. International Journal of Research in All

Subjects in Multi Languages,6(3), 2321 - 2853, 107-111
47
the purpose of this study the primary data which was collected by questionnaire using
convenient sampling technique with the sample size of 100 respondents of Kachchh
district, Gujarat, India. The details of their investment habits and awareness will be
asked to answer. In it there are questions like, how many years of experience they
have in investing activities? What kind of investor they are? To which factor they give
more importance while they are investing in some avenues? In which investment
avenues they are mostly invest their savings? If they are selected some preferable
government investment than what are the reason behind it? And also if they are not
investing in shares, debentures etc. than what are the reasons behind it? Which is their
most preferable investment? And which is the safest investment they have feeling
about is also trying to know in this attempt. The data has been analyzed using
percentage analysis, Pearson co-relation test.

Hence it is concluded as under

The findings of the study are as follows:-

 72% of respondents are employed in private sector. There is big part of private
sector to employ women in economic activities.

 38% of respondent having annual income from 50001-100000 Rs.and only 9% of

respondent having annual income above 500000 Rs.

 96% of respondent having saving bank account and it shows that they better knows
that bank give interest on their extra savings.

 47% taking investment only herself and 39% taking investment decision together
with their husband.

 Working women select “GROWTH ORIENTED” as their 1st objective of investing

activities. And at last they select “SHORT TERM PROFIT SEEKING” at 6th
objective of their investment purpose.

 Working women choose “SAVING IN POST OFFICE” at safest investment

instruments and “COMMODITY “as less safe investment option.  Working women
use “NEWSPAPER/MAGAZINE” as main source of information and they give 49
response out of 174 to it.

48
2.3. Research Gap and Need For The Present Study:

The review of literature on saving and investment pattern of working women’s aim to
understand sources of saving as investment options in general amongst the people.

In all 18 studies were reviewed which mainly focuses on:

1. A study of saving & investment pattern of salaried class people of Pune city
2. Income and investment pattern of working women in Kollam city
3. Investment behavior of working women of Ludhiana district, Punjab
4. Saving habit of labor class women in selected region of Manguluru city.
5. Income and investment pattern of working women in the city of Ahemdabad.
6. Investment preference of working women in North Gujarat.
7. Investment pattern of working women in Dindigul district.
8. A comparative analysis of income and expenditure pattern of working and
working women in Tamil.
9. Investment pattern on working women in Hyderabad and Securendabad.
10. A study on savings & investment pattern of salaried women in Coimbatore
district.
11. An insight into the savings and investment pattern of salaried employees working
in private sector at Ernakulam.
12. A study of investment behavior of women investors in Chennai city.
13. A study on investment pattern and behavior of women employed in private
companies in Banglore.
14. A study of working women's attitude towards investment of Tiruppur district.
15. Income, saving and investment pattern of employees of Bahra University, Solan.
16. A study of investment perspective of salaried people (private sector).
17. A study of financial literacy of working women of Raipur city.
18. Study on Investment Behavioral Patterns of Women Investors.
19. A Study on Investment Awareness among Working Women in Kachchh district

None of the above study suggests the title Savings and investment pattern of working
women.

49
 CHAPTER IV

DATA ANALYSIS AND INTERPRETATION

4.1 Introduction

4.2 Age of respondents

4.3 Education qualification

4.4 Profession

4.5 Income

4.6 Marital status

4.7 How much do you save monthly

50
4.8 Types of family

4.9 Awareness of investment

4.10 Modes of savings

4.11 Awareness of different investment schemes

4.12 What factors you consider before investing

4.13 Main reasons for investment

4.14 Awareness of different government schemes

4.15 Factors determining savings and investment

4.16 Modes of investment

4.17 Metals

4.18 Investment

4.19 Problem faced by working women while making investment decisions

4.1 Introduction

Data collection, analysis and interpretation of results are the critical and core section
in the research process. The aim of analysis is to organize, classify and to summarize
the data that has been collected, such that they can be comprehended and interpreted
to give the solutions to the queries that triggered the research. Without interpretation,
analysis of findings is not fulfilled and interpretation cannot be preceded without
analysis. Both are directly correlated. In this chapter, based on the objectives stated
earlier, a detailed analysis of data collection has been done. Hypothesis was tested
based on the findings of the study, interpretation and the conclusions were drawn.

4.2. AGE OF RESPONDENTS

The tabular and graphical presentation of data is presented below.

51
 Table: 4.2.

AGE OF RESPONDENTS

Age No. of respondents Percentage of

respondents
18-22 year 5 10%
22-30 year 15 30%
30-40 year 20 40%
40-50 year 10 20%
Total 50 100
Sources: Complied from questionnaire

GRAPH 4.2

AGE OF RESPONDENTS

52
 45%
40%
40%

Percentage of respondents
35%
30%
30%
25%
20%
20%
15%
10%
10%
5%
0%
18-22 year 22-30 year 30-40 year 40-50 year
Age

The above table and graph 4.2 reveals that majority of respondents are from the age
group 30-40 years i.e. 20 respondents (40%), 30 per cent respondents belongs from
the age group of 22-30 years i.e. 15 respondents, 20 per cent from the age group of
40-50 years i.e. 10 respondents, 10 per cent belongs to the age group of 18-22 years
i.e. 5 respondents.

Hence the majority of the respondents belongs from the age group of 30-40 years i.e.
20 respondents.

4.3 EDUCATION QUALIFICATION

The tabular and graphical presentation of data is presented below

Table: 4.3

EDUCATION QUALIFICATION

Education qualification No. of respondents Percentage of

respondents
Higher secondary 6 12%
Graduates 22 44%
Post graduates 22 44%
Total 50 100
Sources: Complied from questionnaire

GRAPH 4.3

EDUCATION QUALIFICATION

53
 50%

45% 44% 44%

40%
Perecentage of respondents
35%

30%

25%

20%

15% 12%
10%

5%

0%
Higher secondary Graduates Post graduates
Education qualification

The above table and graph 4.2 reveals that majority of respondents are from the
graduates and post graduates i.e. 22 respondents (44%) and 12 per cent respondents
belongs from the higher secondary i.e. 6 respondents.

Hence the majority of the respondents belong from the graduates and post graduates
i.e. 22 respondents (44%).

4.4 PROFESSION

The tabular and graphical presentation of data is presented bel0w.

Table: 4.4

PROFESSION

Profession No .of respondents Percentage of

respondents
Student 5 10%
Service 21 42%
Professionals 19 38%
Self employed 5 10%
Total 50 100
Sources: Complied from questionnaire

GRAPH 4.4

PROFESSION

54
 45% 42%
40% 38%

Percentage of Respondents
35%
30%
25%
20%
15%
10% 10%
10%
5%
0%
Student Service Professionals Self employed
Profession

The above table and graph 4.4 reveals that majority of respondents are from service
i.e. 21 respondents (42%), 38 per cent belongs from the professionals group i.e. 19
respondents and 10 per cent belongs from the student and self-employed group i.e. 5
respondents.

Hence the majority of the respondents belongs from the service group i.e. 21
respondents (42%)

4.5 INCOME

The tabular and graphical presentation of data is presented below

Table 4.5

INCOME

Income No. of respondents Percentage of

respondents
5000 2 4%
5000-15000 8 16%
15000-25000 20 40%
25000-35000 11 22%
35000-45000 6 12%
45000 and above 3 6%
Total 50 100
Sources: Complied from questionnaire

GRAPH 4.5

INCOME

55
 45%

40%
40%

35%

30%
Percentage of Respondents

25%
22%
20%
16%
15%
12%
10%
6%
5% 4%

0%
5000 5000-15000 15000-25000 25000-35000 35000-45000 45000 and
above

Income

The above table and graph 4.5 reveals that majority of the respondents have 15000-
25000 income i.e. 20 respondents (40%), 22 per cent respondents have 25000-35000
income i.e. 11 respondents, 16 per cent respondents have 5000-15000 income i.e. 8
respondents, 12 per cent respondents have 35000-45000 income i.e. 6 respondents, 6
per cent respondents have 45000 and above income i.e. 3 respondents, 4 per cent
respondents have 5000 income i.e. 2 respondents.

Hence the majority of the respondents have 15000-25000 income i.e. 20 respondents
(40%).

4.6 MARITAL STATUS

56
The tabular and graphical presentation of data is presented below

Table 4.6

MARITAL STATUS

Marital status No. of respondents Percentage of

respondents
Widow 2 4%
Married 20 40%
Unmarried 30 60%
Divorce 8 16%
Total 50 100
Sources: Complied from questionnaire

GRAPH 4.6

MARITAL STATUS

1 2 3 4
70%

60%
60%
Percentage of respondents

50%

40%
40%

30%

20% 16%

10%
4%
0%
Widow married Unmarried Divorce
Marital status

The above table and graph 4.6 reveals that majority of the respondents are unmarried
i.e. 30 respondents (60%), 40 per cent respondents are married i.e.20 respondents , 16
per cent respondents are divorces i.e. 8 respondents , 4 per cent respondents are
widow i.e. 2 respondents .

Hence the majority of the respondents are unmarried i.e. 30 respondents (60%)
57
4.7 HOW MUCH DO YOU SAVE MONTHLY

The tabular and graphical presentation of data is presented below

Table: 4.7

HOW MUCH DO YOU SAVE MONTHLY

How much do you save No. of respondents Percentage of

monthly respondents

a)500-1500 12 24%
b)1500-2500 10 20%
c)2500-3500 6 12%
d)3500-4500 6 12%
e)4500-5500 2 4%
f)5500 and above 14 28%
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.7

HOW MUCH DO YOU SAVE MONTHLY

58
 30% 28%
25% 24%
20%

Percentage of respondents
20%
15% 12% 12%
10%
5% 4%

0%

How much do you save monthly

The above table and graph 4.7 reveals that majority of the respondents save 5500 and
above monthly i.e. 14 respondents (28%), 24 per cent respondents save 500-1500
monthly i.e. 12 respondents, 20 per cent respondents save 1500-2500 monthly i.e. 10
respondents, 12 per cent respondents save 2500-3500 and 3500-4500 i.e. 6
respondents and 4 per cent respondents save 4500-5500 monthly i.e. 2 respondents.

Hence the majority of the respondents save 5500 and above monthly i.e. 14
respondents (28%)

4.8 TYPES OF FAMILY

The tabular and graphical presentation of data is presented below

Table: 4.8

TYPES OF FAMILY

Type of family No. of respondents Percentage of

respondents
Extended family 16 32%
Nuclear family 34 68%
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.8

TYPES OF FAMILY

59
 80%
70% 68%

Percentage of respondents
60%
50%
40%
32%
30%
20%
10%
0%
Extended family Nuclear family
Type of family

The above table and graph 4.8 reveals that majority of respondents belong from
nuclear family i.e. 34 respondents (68%), 32 per cent respondents belong from
extended family i.e. 16 respondents.

Hence the majority of respondents belong from nuclear family i.e. 34 respondents
(68%).

4.9 AWARENESS OF INVESTMENT

The tabular and graphical presentation of data is presented below

Table: 4.9

AWARENESS OF INVESTMENT

Awareness of investment No. of respondents Percentage of investment

Newspaper 2 4%
Television 10 20%
Bankers 4 8%
Pamphlets and journals 2 4%
Friends and neighbor 2 4%
Internet 16 32
Friends, neighbor and 14 28%
internet
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.9

AWARENESS OF INVESTMENT

60
 Percentage of respondents
35% 32%
30% 28%
25%
20%
20%
Percentage of respondents

15%
10% 8%
5% 4% 4% 4%
0%
pe
r on er
s als bo
r et et
pa v isi n k
ur
n h ern ern
Ba ig t t
ews Te
le jo ne In
d
in
N nd d an
tsa s an r
le d bo
m
ph r ien eig
h
F ,n
Pa
nds
ie
Fr

Awarness of investment

The above table and graph 4.9 reveals that majority of the respondents get awareness
of investment from internet i.e. 16 respondents (32%), 28 per cent respondents get
awareness from friends, neighbor and internet i.e. 14 respondents , 20 per cent
respondents get awareness from television i.e. 10 respondents ,8 per cent respondents
get awareness from bankers i.e. 4 respondents and 4 per cent respondents get
awareness from newspapers, pamphlets and journals and friends and neighbor i.e. 2
respondents .

Hence the majority of the respondents get awareness of investment from internet i.e.
16 respondents (32%).

4.10. MODES OF SAVINGS

The tabular and graphical presentation of data is presented below

61
 Table: 4.10

MODES OF SAVINGS

Modes of savings No. of respondents Percentage of

respondents
Provident funds 6 12%
Income 8 16%
Fixed deposit 12 24%
Pocket money 5 10%
Provident funds and fixed 19 38%
deposits
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.10

MODES OF SAVINGS

40% 38%
35%

30%
Percentage of respondents

25% 24%

20%
16%
15%
12%
10%
10%

5%

0%
Provident funds Income Fixed deposit Pocket money Provident funds
and fixed
deposits

Modes of savings

The above table and graph 4.9 reveals that majority of the respondents save from
provident funds and fixed deposits i.e. 19 respondents (38%), 24 per cent respondents
save through fixed deposits, i.e. 12 respondents, 16 per cent respondents save from

62
their income i.e. 8 respondents, 10 per cent respondents save from provident funds i.e.
12 respondents and 10 per cent respondents save from their pocket money i.e. 2
respondents.

Hence the majority of the respondents saves from provident funds and fixed deposits
i.e. 19 respondents (38%)

4.11 AWARENESS OF DIFFERENT SCHEMES

The tabular and graphical presentation of data is presented below

Table: 4.11

AWARENESS OF DIFFERENT SCHEMES

Awareness of different No. of respondents Percentage of

schemes respondents

Bank 18 36%
Mutual funds 18 36%
Shares 0 0%
Debentures 0 0%

Money market 10 20%

Gold 0 0%
Bank and mutual funds 6 12%
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.11

AWARENESS OF DIFFERENT SCHEMES

63
 40%
36% 36%
35%

Perecntage of respondents 30%

25%

20%
20%

15%
12%
10%

5%

0% 0% 0%
0%
Bank Mutual funds Shares Debentures Money Gold Bank and
market mutual funds

Awarness of different schemes

The above table and graph 4.11 reveals that majority of the respondents get awareness
of different schemes from bank mutual funds i.e. 18 respondents (36%), 20 per cent
respondents get awareness of different schemes i.e. 10 respondents, 12 per cent
respondents get awareness of different schemes i.e. 6 respondents, and 0 per cent
respondents get awareness of different schemes i.e. 0 respondents (0%).

Hence the majority of the respondents get awareness of different schemes from bank
mutual funds i.e. 18 respondents (36%)

4.12 WHAT FACTORS YOU CONSIDER BEFORE INVESTING

The tabular and graphical presentation of data is presented below

64
 Table: 4.12

WHAT FACTORS YOU CONSIDER BEFORE INVESTING

What factors you No. of respondents Percentage of

consider before investing respondents
Rate 19 38%
Risk 20 40%
Maturity 0 0%
Rate, risk and maturity 7 14%
Rate and risk 4 8%
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.12

WHAT FACTORS YOU CONSIDER BEFORE INVESTING

45%
40%
40% 38%

35%

30%

25%

20%

15% 14%

10% 8%

5%
0%
0%
Rate Risk Maturity Rate,risk and Rate and risk
maturity

What factors you consider before investing?

The above table and graph 4.12 reveals that majority of the respondents consider risk
before investing i.e. 20 respondents (40%), 38 per cent respondents consider rate

65
before investing i.e. 19 respondents, 14 per cent respondents consider rate, risk and
maturity before investing i.e. 10 respondents,8 per cent respondents get awareness
from bankers i.e. 4 respondents and 4 per cent respondents get awareness from
newspapers, pamphlets and journals and friends and neighbor i.e. 2 respondents .

Hence the majority of the respondents consider risk before investing i.e. 20
respondents (40%).

4.13. MAIN REASONS FOR INVESTMENT

The tabular and graphical presentation of data is presented below

Table: 4.13

MAIN REASONS FOR INVESTMENT

Main reasons for No. of respondent Percentage of respondent

investment

High Returns 10 20%

Tax benefits 9 18%
Emergency need 2 4%
Retirement plans 0 0%
security for the family 6 12%
Education of children 0 0%
Marriage of children 18 36%
To spend later in life 6 12%
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.13

MAIN REASONS FOR INVESTMENT

66
 40%
36%
35%
30%
Percentage of respondents 25%
20%
20% 18%
15% 12% 12%
10%
5% 4%
0% 0%
0%
s s ed s ily en en e
rn fit lan dr dr lif
etu ene y ne t p fam i l i l in
R
xb nc en e ch fc
h er
gh Ta ge m th of o lat
Hi er
tir
e fo
r
on ge nd
Em Re r ity c ati r ria spe
cu u a
se Ed M To

Main reasons for investment

S
ources: Complied from questionnaire

The above table and graph 4.13 reveals that majority of the respondents main reason
for investment is marriage of children i.e. 18 respondents (36%), 20 per cent
respondents main reason for investment is higher returns i.e. 10 respondents, 18 per
cent respondents main reason for investment is tax benefits i.e. 9 respondents, 12 per
cent respondents main reason for investment is security for family and to spend later
in life i.e. 6 respondents and 4 per cent respondents main reason for investment is
emergency need i.e. 2 respondents.

Hence the majority of the respondents’ main reason for investment is marriage of
children i.e. 18 respondents (36%).

4.14 AWARENESS OF DIFFERENT GOVERNMENT SCHEMES

The tabular and graphical presentation of data is presented below

67
 Table: 4.14

AWARENESS OF DIFFERENT GOVERNMENT SCHEMES

Awareness of different No. of respondents Percentage of

government schemes respondents
Pradhan mantri jeevan 12 24%
jyoti bima yojana
Atal pension yojana 2 4%
Sukanya samridhi account 6 12%
Rashtriya swasthya bima 4 8%
yojana
Beti bachao,beti padhao 26 52%
yojana
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.14

AWARENESS OF DIFFERENT GOVERNMENT SCHEMES

60%
52%
50%
Percentage of respondents

40%

30%
24%
20%
12%
10% 8%
4%
0%
Pradhan mantri Atal pension Sukanya samridhi Rashtriya Beti bachao,beti
jeevan jyoti bima yojana account swasthya bima padhao yojana
yojana yojana

Awarness of different government schemes

The above table and graph 4.14 reveals that majority of the respondents are aware of
Beti bachao, beti padhao government schemes i.e. 26 respondents (52%), 24 per cent
respondents are aware of Pradhan mantri jeevan jyoti bima yojana i.e. 12 respondents,
12 per cent respondents are aware of Sukanya samridhi i.e. 6 respondents, 8 per cent

68
respondents are aware of Rashtriya swasthya bima yojana i.e. 4 respondents and 4 per
cent respondents are aware of Atal pension yojana i.e. 2 respondents.

Hence the majority of the respondents’ are aware of Beti bachao, beti padhao
government schemes i.e. 26 respondents (52%)

4.15 FACTORS DETERMING FOR SAVINGS AND INVESTMENT

The tabular and graphical presentation of data is presented below

Table 4.15

FACTORS DETERMING FOR SAVINGS AND INVESTMENT

Factors determining for No. of respondents Percentage of

savings and investment respondents
Interest rates 10 20%
Economic rates 16 32%
Inflation 0 0%
Productivity of capital 4 8%
Availability of finance 0 0%
Interest rates, Economic 18 36%
growth and Inflation
Interest rates and 2 4%
Government policies
Total 50 100%
Sources: Complied from questionnaire

GRAPH 4.15

FACTORS DETERMING FOR SAVINGS AND INVESTMENT

69
 40% 36%
35% 32%
30%
25% 20%
20%
15%
Percentage of respondents

10% 8%
5% 0% 0%
0%
es es l
at at on ita ce tio
n
tr r ati ca
p
n an a
es ic In
fl f fi In
fl
r o m o of d
te on ity y n
In v lit a
Ec ti bi th
d uc la w
o ai gr
o
Pr Av ic
m
o no
c
,E
tes
ra
est
r
te
In

Factors determining for savings and investment

The above table and graph 4.14 reveals that majority of the respondents are from
interest rates, economic growth and inflation i.e. 18 respondents (36%) ,32 per cent of
the respondents determine economic growth i.e. 16 respondents, 20 per cent
respondents determine interest rates i.e. 10 respondents, 8 per cent respondents
determine productivity of capital i.e. 4 respondents.

Hence the majority of the respondents’ are from interest rates, economic growth and
inflation i.e. 18 respondents (36%).

70
4.16. MODES OF INVESTMENT

The tabular and graphical presentation of data is presented below

Table: 4.16

MODES OF INVESTMENT

MODES OF Actual Preferred

INVESTMENT No. of Percentage No. of Percentage
respondents of respondents of
respondents respondents

Cash 30 60% 12 24%

Land 9 18% 20 40%
House 6 12% 13 26%
LIC 45 90% 50 100%
Medical 39 78% 32 64%
Insurance
Home 18 36% 31 62%
Sources: Complied from questionnaire

GRAPH 4.16

MODES OF INVESTMENT

120%

100%
Percentage of respondents

80%

60%
Actual
Preffered
40%

20%

0%
Cash Land LIC Medical Home
Modes of investment

71
The above table and graph 4.15 reveals that majority of the respondents invest in LIC
preferred i.e. 50 respondents (100%) actual 45 respondents (90%), 78 per cent invest
in medical insurance in actual i.e. 39 respondents and 64 per cent invest in medical
insurance in preferred i.e. 32 respondents, 62 per cent respondent invest in home
insurance in preferred and 36 per cent invest in actual i.e. 18 respondents and in , 60
per cent respondents invest in cash in actual i.e. 30 respondents and 24 per cent
respondents invest in preferred i.e. 12 respondents and 40 per cent invest in land in
preferred i.e. 20 respondents and in actual 18 per cent i.e. 9 respondents.

Hence the majority of the respondents’ invest in LIC preferred i.e. 50 respondents
(100%) actual 45 respondents (90%).

4.17. METALS

The tabular and graphical presentation of data is presented below

Table: 4.17

METALS

Metals Actual Preferred

No. of Percentage No. of Percentage
respondent of respondent of
s responden s respondent
ts s
Gold 46 92% 43 86%
Platinum 1 2% 2 4%
Silver 12 24% 4 8%
Diamond 3 6% 14 28%
Sources: Complied from questionnaire

72
 GRAPH 4.17

METALS

100%
92%
90% 86%
80%
Percentage of respondents

70%
60%
50%
Actual
40%
Preferred
30% 28%
24%
20%
10% 8% 6%
2% 4%
0%
Gold Platinum Silver Diamond
Metals

The above table and graph 4.17 reveals that majority of the respondents invests in
gold in in actual i.e. 46 respondents (92%) and in preferred 43 respondents (86%), 28
per cent is invested in diamond in preferred and 6 per cent in actual i.e. 3
respondents ,24 per cent of the respondents invests in silver in actual i.e.12
respondents and in preferred 8 per cent invests in silver i.e. 4 respondents , 4 per cent
respondents invests in platinum in preferred i.e. 2 respondents and in actual 1
respondent i.e. 2 per cent.

Hence the majority of the respondents invests in gold in in actual i.e. 46 respondents
(92%) and in preferred 43 respondents (86%).

73
4.18. INVESTMENT

The tabular and graphical presentation of data is presented below

Table 4.18

INVESTMENT

Actual Percentage Proffered Percentage

Investment of of
respondents respondents
Expand business 24 48% 24 48%
Partnership 22 44% 23 46%
Shares 20 40% 18 36%
Mutual funds 18 36% 12 24%
Debentures 1 2% 5 10%
Sources: Complied from questionnaire

GRAPH 4.18

INVESTMENT

60%

50% 48%
48%
46%
44%
Percentage of respondents

40%
40%
36% 36%

30%
24% Actual
Preferred
20%

10%
10%

2%
0%
Expand businessPartnership Shares Mutual funds Debentures
Investment

74
The above table and graph 4.18 reveals that majority of the respondents invests in
expand business in actual and in preferred i.e. 24 respondents (48%) , 46 per cent
invests in partnership in preferred i.e.23 respondents and in actual 44 per cent i.e. 22
respondents, 40 per cent invests in shares in actual i.e.20 respondents and in
preferred 36 per cent i.e. 18 respondents ,36 per cent of the respondents invests in
mutual funds in actual i.e.18 respondents and in preferred 24 per cent invests i.e. 12
respondents , 10 per cent respondents invests in debentures in preferred i.e. 5
respondents and in actual 1 respondent i.e. 2 per cent.

Hence the majority of the respondents invests in in expand business in actual and in
preferred i.e. 24 respondents (48%).

4.19 PROBLEM FACED BY WOMEN WHILE MAKING INVESTMENT

DECISIONS

Table 4.19

PROBLEM FACED BY WOMEN WHILE MAKING INVESTMENT DECISIONS

The tabular and graphical presentation of data is presented below

Problem faced by working No. of respondents Percentage of respondents

women while making
investment decision
Inefficient Economic Growth 5 10%
Awareness 10 20%
Insolvency of bank 10 20%
Selection of Source 25 50%
Sources: Complied from questionnaire

GRAPH 4.19

75
PROBLEM FACED BY WOMEN WHILE MAKING INVESTMENT DECISIONS

60%

50%
50%
Per centage of respondents

40%

30%

20% 20%
20%

10%
10%

0%
Inefficient Economic Growth Awareness Insolvency of bank Selection of Source
PROBLEM FACED BY WOMEN WHILE MAKING INVESTMENT DECISIONS

The above table and graph 4.19 reveals that majority of the respondents faced
problem in selection of source while making investment decision i.e. 25 respondents
(50%) , 20 per cent faced problem in awareness and insolvency of bank while making
investment decisions i.e. 10 respondents and 10 per cent faced problem in inefficient
economic growth i.e. 05 respondents

Hence the majority of the respondents faced problem in selection of source while
making investment decision i.e. 25 respondents (50%)

CHAPTER V

76
 FINDINGS AND CONCLUSION

5.1 Introduction

5.2 Findings

5.3 Objective wise conclusion

5.4 Hypothesis wise conclusion

5.5 Conclusion

5.1 Introduction

77
The conclusion is intended to help the reader understand why your research should
matter to them after they have finished reading a paper. A conclusion is not merely a
summary of the main topics covered or a re-statement of your research problem, but a
synthesis of key points and, if applicable, where you recommend new areas for future
research. For most college-level research papers, one or two well-developed
paragraphs are sufficient for a conclusion, although in some cases, three or more
paragraphs may be required.

5.2 Findings

1. The majority of the respondents belongs from the age group of 30-40 years i.e.
20 respondents (40%).
2. The majority of the respondents belong from the graduates and post graduates
i.e. 22 respondents (44%).
3. The majority of the respondents belongs from the service group i.e. 21
respondents (42%).
4. The majority of the respondents have 15000-25000 income i.e. 20 respondents
(40%)
5. The majority of the respondents are unmarried i.e. 30 respondents (60%)
6. The majority of the respondents save 5500 and above monthly i.e. 14
respondents (28%).
7. The majority of respondents belong from nuclear family i.e. 34 respondents
(68%)
8. The majority of the respondents get awareness of investment from internet i.e.
16 respondents (32%).
9. The majority of the respondents save from provident funds and fixed deposits
i.e. 19 respondents (38%).
10. The majority of the respondents get awareness of different schemes from bank
mutual funds i.e. 18 respondents (36%)
11. The majority of the respondents consider risk before investing i.e. 20
respondents (40%).
12. The majority of the respondents’ main reason for investment is marriage of
children i.e. Respondents (36%).

78
 13. The majority of the respondents’ are aware of Pradhan mantri jeevan jyoti
bima yojana, Sukanya swasthya bima yojana and Beti bachao, beti padhao
government schemes from i.e. 30 respondents (60%)
14. The majority of the respondents’ are from interest rates, economic growth and
inflation i.e. 18 respondents (36%).
15. The majority of the respondents’ invest in LIC preferred i.e. 50 respondents
(100%) actual 45 respondents (90%).
16. The majority of the respondents invests in gold in actual i.e. 46 respondents
(92%) and in preferred 43 respondents (86%).
17. The majority of the respondents invests in expand business in actual and in
preferred i.e. 24 respondents (48%).
18. The majority of the respondents faced problem in selection of source while
making investment decision i.e. 25 respondents (50%)

5.3 Objective wise Conclusion

79
Objectives Conclusion
To study the profile of working women. Table no. and graph no. 4.2, 4.3, 4.4, 4.5,
4.6, 4.7, 4.8.
In the profile of working women majority
of the respondents belongs from the age
group of 30-40 years which are graduates
and post graduates and it belongs from
service group having income of 15000-
25000 which are unmarried and save 5500
and above monthly and belongs from the
nuclear family.
To analyses source of income of Table no. and graph no. 4.4
working women. Majority of the respondent’s source of
income of working women is from service.
To understand saving and investment Table no. and graph no.
pattern of working women. 4.7,4.10,4.16,4.17,4.18
In saving and investment pattern of the
working women majority of the
respondents save 5500 and above monthly
from provident funds and fixed deposits
and invests in LIC preferred and actual,
gold preferred and actual and also in
expanding business for actual and
preferred.
To examine the preference of investment Table no. and graph no. 4.16, 4.17, 4.18
of working women. Majority of the respondents prefer LIC
preferred and actual, gold preferred and
actual and also in expanding business for
actual and preferred.
To study the problem faced by the Table no. and graph no. 4.19
working while making investment Majority of the respondents faced problem
decisions. in selection of source while making
investment decision

5.4 Hypothesis wise conclusion

80
H1 working women usually preferred to Table no. and graph no. 4.17
invest in gold Majority of the respondents prefer to
invest in gold on actual and preferred
bases
H2 working women do save money Table no. and graph no.4.7
Majority of the respondents save 5500
and above monthly

5.5 Conclusion

This chapter gives a detailed description about the preferences and perception of
working women in organized and unorganized sectors towards saving schemes and
investment avenues. The saving scheme preferences of the respondents of both
organized and unorganized sector remains the same, irrespective of the changes in the
demographic and economic variables.

No significant difference in the perception of women working in the organized sector

towards different investment avenues like Bank Fixed Deposits, LIC, Gold ETF,
Mutual Fund. But there is significant difference in their perception regarding Real
estate and Equity shares. There is no significant difference in the perception of
women working in the unorganized sector towards fixed deposits and LIC, and no
perception about other investment avenues as they are unaware. With regard to Fixed
Deposits, the perception of women in organized and unorganized sector does not
differ significantly but in the case of LIC, their perception differs significantly. In the
case of all other investment avenues, the respondents of the unorganized sector have
no knowledge. The savings and Investment Pattern of Women Working in Organized
and Unorganized sectors in Mumbai knowledge. There are significant differences in
their perceptions under different classes of respondents on Occupation wise towards
different savings and investment avenues.

81
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ANNEXURE

1. Age
a) 18-22
b) 22-30
c) 30-40
d) 40-50
e) 50 and above
2. Education qualification
a) Higher secondary
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 b) Graduates
c) Post graduates
3. Profession
a) Student
b) Service
c) Professionals
d) Self employed
e) Home makers
4. Income
a) 5000
b) 5000-15000
c) 15000-20000
d) 20000-25000
e) 25000-45000
f) 45000 and above
5. Marital status
a) Widow
b) Married
c) Unmarried
d) Divorce

6. How much do you save monthly?

a) 500-1500
b) 1500-2500
c) 2500-3500
d) 3500-4500
e) 4500 and above
7. Types of family
a) Joint family
b) Nuclear family
c) Single

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8. Awareness of investment
a) Newspaper
b) Television
c) Bankers
d) Pamphlets and journal
e) Friends
f) Internet
9. Modes of savings
a) Provident fund
b) Income
c) Fixed deposit
d) Pocket money
10. Awareness of different investment schemes
a) Banks
b) Mutual funds
c) Shares
d) Debentures
e) Money market
f) Gold
11. What factors you consider before investing
a) Rate
b) Risk
c) Maturity

12. Main reasons for investment

a) Higher returns
b) Tax benefits
c) Emergency returns
d) Retirement needs
e) Security of the family
f) Education of the children
g) Marriage of the children
h) To spend later in life
13. Awareness of different government schemes
86
 a) Pradhan mantri jeevan jyoti bima yojana
b) Atal pension yojana
c) Sukanya samridhi account
d) Rashtriya swasthya bima yojana
e) Beti bachao, beti padhao
14. Factors determining for savings and investment
a) Interest rates
b) Economic growth
c) Inflation
d) Availability of finance
e) Depreciation
f) Public sector investments
g) Government policies
15. Modes of investment
a) Cash
b) Land
c) House
d) LIC
e) Medical insurance
f) Home insurance

16. Metals
a) Platinum
b) Gold
c) Silver
d) Diamond
17. Investment
a) Expand business
b) Partnership
c) Shares
d) Mutual funds

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 e) Debentures
18. Problem faced by working women while making investment decisions
a) Insufficient economic growth
b) Awareness
c) Insolvency of bank
d) Selection of source

88