Financial planning workshop today

The city-based Sewa Bank will organise a day-long workshop on 'Training of financial planning' for poor women on Monday.

The workshop, being held under the aegis of the 'Project Tomorrow' scheme, will be held at the Town Hall in Ahmedabad and around 1,500 members are expect to attend.

Jayshree Vyas, managing director of Shri Mahila Sewa Sahakari Bank Ltd said the poor in developing countries share the same goals as all other people as they strive for economic security for themselves, their families and the future generation.

The main difference though is that the poor have fewer resources and opportunities and most live in high-risk and unpredictable environments.

"In this context, managing the little money that they have is vital. Good money management not only helps them meet their day-to-day needs, it also helps them cope much better with unexpected emergencies," said Vyas.

Sewa has already been working in this field and regularly organises such workshops to equip poor women with knowledge and methods of financial planning.

According to figures of the Central Statistical Organisation and the National Council for Applied Economics, 93 per cent of India's population works in the informal economy.

This segment accounts for 60 per cent of the GDP, 50 per cent of savings and 38 per cent of export earnings.

Yet, these people are not covered under any labour laws and have no social security like health insurance, pension and old age benefits.