17,000 new credit cards issued by ICICI linked to wrong users

The women of today have conquered almost all bastions conquered exclusive preserve for men. They are not moms, wives, sisters and daughters but professionals and bread winners in their own right and as much as men. They are courageous and responsible in their professions as much as they are caring at home. Unfortunately, despite their involvement in various activities, it is observed that women often do not invest independently. Quite ironically, however, in most families, women make a splendid job of managing everyday expenditure judiciously and are often more financially responsible than men.

If women take the trouble of educating themselves about various investment products and put them to good use, they can eventually achieve financial independence. Women who do not work can still receive retirement benefits by investing in the Public Provident Fund for the long term with the benefits of tax deductibility.

The National Pension Scheme is another possibility. Here, the contributors can allocate a portion of their funds towards equity and debt markets. One can also receive annuities after going past the retirement age. Women can also earn good returns on mutual funds over the medium to long term. Spending this money on vacations or saving it for significant life events such as marriage or high education of children are judicious ways of meeting the goals of life.

Women should also buy life and health insurance. With the pandemic altering our priorities, the need for insurance was never more acutely felt in the past. National Saving Certificates, Post Office schemes and bank fixed deposits are some other trusted savings plans that guarantee a fixed return while protecting the principal.

Most women are fond of gold. They buy jewellery made of actual gold and store it in a safe deposit box where it will remain forever. The Reserve Bank of India’s Sovereign Gold Bonds, issued at the current gold price, are great options. Digital gold and gold ETFs are other forms of investing in gold that can be sold at higher levels without incurring the standard losses such as ‘making charges’ as in the case of gold ornaments.