Awareness of Investment Avenues among Advocates

Abstract

The productive capacity of every nation depends on a healthy capital formation. Healthy savings and good capital mobilization is the key to the economic development of the nation. Domestic savings play a significant role in economic growth because the domestic saving rate is directly related to the investment rate and the lending capacity of the banking system in the country. A good banking system is an important indicator of economic development. A nation's savings and investment capacity also play a key role in achieving dynamic stability in the capital market. Hence it is necessary to study and assess the saving and investment patterns of the citizens.
The present research is based on the micro financial approach in estimating the responses of the respondent’s i.e. advocates practicing in civil and criminal courts in the Sangli city. The study at the savings and investment habits of the respondents. The objective of the study is to determine the relationship between the savings and investments pattern among the advocates. The present study is based on both primary and secondary data. Primary data is collected by distributing a structured questionnaire to 50 advocates practicing in district courts.
The major components of savings are the level of income of the advocates and their own objectives of savings. The research shows that the majority of the respondents are saving money and investing in traditional investment avenues. They believe that traditional investment avenues are safe. The main avenues of investment are Bank deposits, investments in gold, LIC. The main purposes of investment are marriage purpose, for the education of children and security after retirement