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Agra MFD Dinesh Chand Bansal celebrated the spirit of Independence Day by waiving the flag of financial freedom for women. He did this by holding an exclusive SIP drive for homemakers on August 14, 2023.
“The idea here was to guide them to be financially independent by generating returns on money that is usually kept aside in a barni or almari”, said Dinesh.
He also took us through the entire process from the ideation to the execution of this drive.
Reaching out at their convenience
My wife Sunita Bansal takes care of operational part of the business. One day, while having a discussion with her, I found that many of her friends are unaware of investments. I asked Sunita to help me arrange a casual meeting with her kitty friends.
Keeping in mind everyone’s convenience, I chose to meet them at the kitty itself. The friendly and familiar kitty set-up made each member comfortable and they readily lent me a listening ear.
Igniting financial interest
I illustrated live examples on how modest SIPs over the long term have generated a sizable corpus. Simple examples like these made them understand the difference between ‘savings’ and ‘investments’ and the potential of money that they otherwise keep idle in their barni or almari.
Also, introducing the concept like ‘15-15-15’ formula made them think about SIPs more seriously. The formula states, assuming a 15% return, a monthly SIP of Rs 15,000 for 15 years has the potential to create a corpus of Rs 1 crore.
Choosing the SIP drive date wisely
I purposefully executed the drive in August to mark the celebration of Independence Day. Every year, my clients are now likely to remember that they celebrated Independence Day by taking a step towards their financial freedom and each Independence Day in turn will serve as a reminder to stay invested till they achieve their financial aspirations.
Rejoicing a fresh start together
40 homemakers joined hands and embarked on a new journey by participating in the SIP drive. They set their idle money free through SIP investing and took the first step towards financial liberation.
The MFD also reached out to some of existing clients and urged them to start SIPs for their wives. 20 existing clients increased their SIPs through this drive.
Overall, 60 investors registered 309 SIPs (269 online and 40 physical) amounting to Rs 4.29 lakh.
Have you also conducted a SIP drive recently? Do share your experience with us at newsdesk@cafemutual.com and stand a chance to feature on the Cafemutual website.