Inspira-Journal of Commerce, Economics & Computer Science 20

ISSN : 2395-7069, Volume 01, No. 03, July- September, 2015, pp. 20- 29

INVESTMENT AWARENESS AMONG INDIAN WORKING WOMEN

WITH SPECIAL REFERENCE TO AKOLA (RAJASTHAN)

Archana P. Khandelwal ∗
Dr. A S. Ninawe ∗∗

Abstract
From ancient times, women have been managing homes. Hence they are called
‘Home makers.’ But since the last 10 to 15 years, this situation has been changing. These
days, in all sorts of fields, women are working efficiently and enthusiastically along with
men or if it is said that women work more efficiently than their male colleagues, it
wouldn’t be an exaggeration. The present research has been done to know the investment
awareness among Indian working women with reference to Akola City. Now- a- days,
women want to be financially independent & secure their future with enough funds.
This research is based on the study of investment behavior & patterns followed by
working women and problems related to investment.
Keywords: Home Makers, Action Plan, Investment Management, Socio-Demographic.
Introduction
Current Scenario of India shows that, India has the world's largest number of
professionally qualified women .India has largest population of working women in the
world. India has a large number of female doctors, surgeons, scientists, professors, than
the United States. Women have got remarkable status in the society. Today Indian
women have excelled in each and every field from social work to visiting space. There is
no field which remained unconquered by Indian women, be it politics, sports,
entertainment, literature or technology. As she got high status she got financial benefits
from her status. As her income increases she has to think about investment management
to get maximum returns and to safeguard her future. What are women to do who are
faced with major life transitions, early or later, and have not put in place a firm “action
plan?” Depending on the size of the resources, there are numerous options. But for

∗
Assistant Professor & Head, Department of Accountancy & Business Statistics,
Shankarlal Khankdelwal College, Akola, Maharashtra.
∗∗
Head, Department of Commerce, Smt. L.R.T. Commerce College, Akola, Maharashtra..
Archana P. Khandelwal & Dr. A.S. Ninawe : Investment Awareness Among Indian ……. 21

individuals and families who hold significant resources, the option of Investment
Portfolio” is increasingly popular and compelling. Women’s today have more earning
potential and more influence over financial decisions than ever before. Women’s
represent almost half of the workforce and they are in profession and many businesses
are owned and managed by women. As they are becoming financially strong there is
need for proper portfolio investment. Earning money is only half the equation for
achieving financial independence. Effectively putting your money to work for you is
equally important. Though the size of household income matters, how to manage
women’s have to meet short term obligations as well as long term goals. The challenges of
investing are unique for each individual. In addition, circumstances are frequently
different for women. Whatever choices you make will be a result of greater knowledge of
the underlying issues and different options you know or understand. Due to all these
factor I think that research in this field is need to be done. So that this topic for the
research paper is selected.
Research Objectives
• To find out the investment habits of the working women in Akola region.
• To know the role of working women in making investment decisions in Akola.
• To know the investment avenues that the working women in Akola is usually
prefer.
• To find out the problems faced by working women in Akola while taking
investment decisions.
Limitations
The area of study is limited to Akola region only. And also it is limited to the
selected group of professional working women and for limited period of time.
Conceptual Framework
This study focuses on the relationship between socio-demographic characteristics
like age, income, qualification, marital status and investment habits, investment avenues,
risk bearing capacity. The socio-demographic characteristics will be Independent
Variables and investment habits, investment awareness & risk bearing capacity will be
Dependent Variables.
Research Methodology
The research work was carried out in Akola & its outskirts. Working women in
different sectors were interviewed for this purpose. Working professionals were from
banks, senior college, Doctors, Lawyers, LICs and other small firms. Structured
questionnaire was provided to them & their responses were noted.
Sources of Data & Tools for Data Collection
• Primary Data : Structured questionnaire via in- depth personal interviews.
• Secondary Data : As per references

Sampling Plan: Population Definition- working professionals (females only)
in educational institution , lawyers, banks, corporate, LICs etc. in Akola & its
outskirts. Sampling Design- random sampling for working professionals .
22 Inspira- Journal of Commerce, Economics & Computer Science : July - September, 2015

Sample Size : 80 working women working in different sectors
Hypothesis
• Working women in Akola lack the risk bearing capacity while making investment
decisions.
• Working women in Akola rely mainly on their husbands while taking investment
decisions.
• Even the working women coming under ‘High Income’ bracket, don’t have
thorough knowledge of all the financial instruments.
• Working women don’t take professional’s help while making investment decisions.
• Female working professionals in India monitor their investments regularly.
• Working women always prefer the safest investment options.
Analysis and Interpretation of Data
This chapter is concerned with analysis and interpretation of data. Total 80
respondents amongst working professional women’s are selected. By issuing
questionnaire the data has been collected. Collected data has been edited for accuracy,
completeness than tabulation has been done. Information gathered from the questionnaire
are tabulated and from that it is presented in tabular and graphical form.
• Personal Information: In this question personal information of the respondents is
asked about. Such as name, address, age qualification, occupation.
Table 1
Demographic Profile
Status No. of Respondents Percentage
Professional Working Women Age 80
21-30 10 12.50
31-40 32 40.00
41-50 35 43.75
50 above 03 03.75
Total 80

Graph 1
Graph Showing Age wise Distribution of Samples
Archana P. Khandelwal & Dr. A.S. Ninawe : Investment Awareness Among Indian ……. 23

It is evident from the above chart is that most of the respondents are in the age
group of 41-50 followed by 31-40 minimum are in the age group of above 50.
• Details of Revenue: This question includes yearly income, spending and
investment of respondents.
Table 2
Yearly Income of Professional Working Women
Category Yearly Income Percentage
Upto 1 lac 4 5.00
1 to 2 lac 5 6.25
2 to 3 lac 7 8.75
3 to 4 lac 11 13.75
4 to 5 lac 19 23.75
5 lac and above 34 42.50

Graph 2
Graphical Presentation of Yearly Income

It is evident from the above table and graph that majority of the respondents fall in
the income group of 5 lacks and above followed by 4 to 5 lack income group, and
minimum is in the group of up to 1 lack.
• Yearly Spending
Table 3
Table Showing Yearly Spending of Respondents
Category Yearly Spending Percentage
Below 50000 4.00 5.00
Upto 1 lac 10.00 12.50
1 to 2 lac 30.00 37.50
2 to 3 lac 24.00 30.00
3 to 4 lac 7.00 8.75
4 to 5 lac 5.00 6.25
24 Inspira- Journal of Commerce, Economics & Computer Science : July - September, 2015
Graph 3
Graphical Presentation

From the above table and graph it is found that yearly maximum spending of
working professional women comes under 1 to 2 lac followed by upto 2 to 3 lac.
Yearly Investment
Table 4
Table Showing Yearly Investment
Category Yearly Investment Percentage
Below 50000 1.00 1.25
Upto 1 lac 17.00 21.25
1 to 2 lac 25.00 31.25
2 to 3 lac 17.00 21.25
3 to 4 lac 15.00 18.75
4 to 5 lac 2.00 2.50
5 lac and above 3.00 3.75
Graph 4
Graphical Presentation of Yearly Investment
Archana P. Khandelwal & Dr. A.S. Ninawe : Investment Awareness Among Indian ……. 25

From the above table and graph it is found that maximum yearly investment of all
selected category is upto 1 to 2 lac followed by 1 lac and 2 to 3 lac.
Table 5
Combine Table of Income Spending and Investment
Category Yearly Income Yearly Spending Yearly Investment
Below 50000 4 4 1
Upto 1 lac 5 10 17
1 to 2 lac 7 30 25
2 to 3 lac 11 24 17
3 to 4 lac 19 7 15
4 to 5 lac 34 5 2
5 lac and above - - 3
Graph 5

Types of Investment Alternatives Selected by Professional Women from the Available

Alternatives of Investment:
Table 6
Particulars % of Investment
Government Securities 57.5
Life Insurance 66.25
Commercial Bank 42.5
Provident Fund 48.75
Post Office Scheme 43.75
Fixed Deposit Scheme 43.75
Non-bank finance companies 23.75
Mutual funds 32.5
Immovable property 53.75
Precious metals (Gold, Silver, Diamonds) 35
Coins and Stamp collection 21.25
SIP 27.5
Antiques 12.5
Hundi Chitti 11.25
26 Inspira- Journal of Commerce, Economics & Computer Science : July - September, 2015

Recurring Deposits 12.5

Inflation Index Funds 7.5
Debentures 13.75
Equity Bonds 11.25
Parking Fund 2.5
Any Other 1.25

Graph 6
Graphical Presentation of Investment Alternatives

From the above table and chart it is found that maximum professional women
prefer life insurance as investment and it is followed by government securities,
immovable property and provident funds.
General Problems of Investors
Table 7
Problem Percentage
Lack of Knowledge 53.75
Lack of Awareness 41.25
Lack of confidence 26.25
Hidden terms and conditions 41.25
Archana P. Khandelwal & Dr. A.S. Ninawe : Investment Awareness Among Indian ……. 27

Graph 7
Graphical Presentation of General Problems of Investors

From the above given table it is found that general problem of investors include
53.75 % lack of knowledge, followed by 41.25 % lack of awareness, 26.25 % lack of
confidence and 41.25 % hidden terms and conditions
Findings
• It has been found out that 41% of the respondents are aware of investment
alternatives available in the market.
• It has been found out that 52% of the respondents have knowledge about
investment but due to lack of knowledge and hidden terms and conditions they
bothered about savings & investment.
• It has been found out that out of these 85 respondents who are well knowledge
about investment; 65% are not ready to take risks while making investments. They
prefer safe modes of investment like Government Securities Bonds ,LIC, FDs,
Post office schemes, PPF. Only 20% respondents want to invest in equities/stock
where high risk is involved.
• It has been observed strongly that 90% of the respondents rely on their husbands
for taking investment decisions. And remaining 10% respondents take their
investment decisions by themselves.
• It has also been noticed that 80% of the respondents don’t read any financial
newspaper. Only 20% respondents regularly read ‘Economic Times’ & ‘Financial
Express’.
• Only 25% of the respondents watch TV channels like ‘Z Business’, ‘CNBC’, ‘NDTV
profit’ etc. to get some help while making investment decisions. Remaining 45%
28 Inspira- Journal of Commerce, Economics & Computer Science : July - September, 2015
respondents rely on their friends’ advice & own knowledge for making investment
decisions.
• It has been observed that 75% female working professionals monitor their
investments regularly. Among these, 25% monitor monthly, 35% quarterly & 15%
bi-annually.
Limitations
• It is assumed that all the information provided by the respondents is true & factual.
• Time was the main constraint. As far as the depth of the research paper is
concerned, it would be unfair to assume that the sufficient amount of data has been
collected within such a limited time frame.
• The data collection has been done from a limited geographical area. Hence the
findings & conclusion have got their own limitations.
• The information given by the respondents might be biased because some of them
might not be interested to give correct information.
Conclusion
From the study of the present topic it has been found that Because of high level
education, today’s women are getting the best job offers with high take home pay
packages. It has become the present day need for working women in India to increase
their wealth. As most of the women are low in financial literacy, it becomes hardly
possible for them to manage their portfolios on their own. Also the risk bearing capacity
of working women in India is low. This is due to lack of sound financial knowledge.
Women’s should take initiative to managing their own portfolio so that future financial
need should have been meet with it.
Further Research
There is much scope for further research as far as the topic for the research is
concerned. As this research has been done taking into consideration a very limited data
from the female working professionals from Akola, it has got its own limitations. On the
basis of this paper, one can do the comparative study of investment behavior of Indian
working women & of working women in foreign countries. There is also much scope for
the comparative study of the mentality, perceptions & attitudes of the working women as
investors here in India & abroad. There is also scope for further study in portfolio
management of professional women.
Suggestions
• It is recommended that the Government should take some efforts to increase the
financial awareness & investment awareness among the working women through
organizing campaigns for the same.
• The employers i.e. companies should be encouraged to organize ‘Investment &
financial awareness programmers’ by experts in their office premises specially for
their women employees.
• Small debates can be organized weekly wherein the review of financial newspapers
like ‘Economic Times’ & ‘Financial Express’ can be taken at the workplace to
increase financial awareness.
Archana P. Khandelwal & Dr. A.S. Ninawe : Investment Awareness Among Indian ……. 29

• Working women themselves should take efforts to become expert managers of

their own portfolios. They can do so by getting more & more knowledge related to
financial matters from every source possible like financial newspapers, TV channels
like CNBC, NDTV profit, Z Business etc. some magazines like ‘Dalal Street’. They
can take help of expert persons in the finance field.
• Government should come up with more innovative projects as they have done by
starting banks for women only-‘Mahila Bank’ wherein everything is done by
women. These banks can be the reliable source of investment for women.
• Women can take help of reliable Certified Financial Planners for making the right
investment decisions & for having an ideal portfolio.

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