JKB Financial Services Ltd (JKBFSL), a wholly owned subsidiary of J&K Bank and IDBI Asset Management Ltd (IDBI AMC), a subsidiary of IDBI Bank, organized a joint maiden Investor Awareness Program, at Srinagar on November 23. JKB Financial Services Ltd. (JKBFSL), has a distribution tie up with IDBI AMC. Over 200 persons attended the programme. This is a part of the Investor Education initiative undertaken by the Securities & Exchange Board of India (SEBI) and being carried out through the Asset management Companies. The programme introduced and highlighted the concept of Financial Planning to meet the evolving Life Cycle Financial needs of investors and the Role of Mutual Funds in facilitating the same.
IDBI AMC, which has Representatives in Srinagar and Jammu, has adopted the districts of Srinagar, Jammu, Leh (Ladakh), Kathua and Kargil for imparting financial literacy, under the said programme.
Speaking on the occasion, Debasish Mallick, MD & CEO, IDBI AMC said “Financial Planning can meet the evolving financial needs in various life stages. Mutual Funds can be an ideal investment tool for wealth generation over the medium and long term, if pursued in a patient and disciplined manner. Mutual Fund schemes also have the potential to generate tax efficient and inflation adjusted real returns. Retail investors can invest systematically through the popular mode of Systematic Investment Plan (SIPs) which helps bring down average cost of investment and generate more opportunities for optimal returns. IDBI AMC is proud to associate with JKB Financial Services to carry the concept of Financial Planning and Role of Mutual Funds to the people of Kashmir.”
Abdul Rashid, MD of JKBFSL said, “JKB Financial Services Ltd. is a wholly owned subsidiary of J&K Bank which focuses on meeting the growing demand for various financial products like investments in equities, mutual funds, Gold Fund and derivative products by the investor community in the State of J&K in particular and rest of the country in general. We are happy to partner with the Investor Education initiative undertaken by IDBI AMC, in the State of Jammu & Kashmir. The programme has highlighted the concept of Financial Planning and Role of Mutual Funds, which will help people/investors to take informed investment decisions to achieve financial goals and create atmosphere in the state of Jammu & Kashmir for Capital formation.”