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  • MF News PM Modi cites SIP example to bring positive change

    PM Modi cites SIP example to bring positive change

    The Prime Minister of India said that many people invest Rs.5000 a month through SIP. While the result cannot be seen in the short term, it becomes a big security in the long run.
    Nishant Patnaik Nov 25, 2020

    The Prime Minister Narendra Modi has used the analogy of SIP to spread the message that persistent efforts bring positive changes in life.

    Addressing the faculties and students at Pandit Deendayal Petroleum University in Gandhinagar Gujarat, Modi said change has to be made within and it does not happen in a day, a week or a year.

    He said, “You must have seen this in cricket. When any team has to chase a very big target, it does not think how many runs it has to score. Batsmen think how many runs they have to score in every over.”

    Using the analogy of SIP, he further said, “The same mantra is followed by many people in financial planning. They deposit Rs. 5,000 every month and it becomes more than one lakh rupees after two years. These sustained efforts build such capabilities within you, the result of which may not be seen in the short-term, but it becomes a big security in the long run.”

    “We have to make concerted efforts for the change. Even small things, if done regularly, bring about massive changes. For example, you can develop a habit of reading something new or writing for 20 minutes  every day. Similarly, you can think why not dedicate 20 minutes every day to learn something new. It may be just 20 minutes in a day, but the same 20 minutes will be equal to 120 hours in a year. You will also be surprised that this 120-hour effort will bring about so many changes within you,” he added.

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    4 Comments
    Soumitra paramanik · 3 years ago `
    I request to every day news
    Bablu · 3 years ago
    His example was clearly for Recurring Deposits, not SIPs. Are you guys hard of hearing or just a bit dense?
    Ajay Kumar Sharma · 3 years ago
    He talked of small steps giving big results wherein he quoted cricket team chasing big score, financial plannig and of a deposit of just Rs.5,000/- a month becoming more than one lakh in just two years (5,000*12*2=120,000). He didn't talk of mutual funds or RD but used Financial Planning, which is good. - My observation
    Reply
    Dillip Swain · 2 years ago `
    LoL.... Modi jii never think about 18% gst on MFD comission
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