Speaking more on the development, Nithin Kamath, Founder & CEO said, “Zerodha is committed to improving financial literacy in India. Our educational initiatives, such as Varsity and Trading Q&A are a testimony to this. We are taking this commitment further with Rupee Tales. It is our earnest attempt to creatively inculcate basic financial awareness among children. The concepts covered in Rupee Tales pertain to financial inclusion; pivotal to the cashless and paperless economy India is striving for. A large part of the ‘financial inclusion for all’ dream is dependent on how the younger generation adapts to it.”
Karthik Rangappa, the author of Rupee Tales & VP- Educational Services, Zerodha, added, “The idea to write Rupee Tales came to me when my 7-year-old daughter kept asking me where I work and what I do. I realised it was not easy to explain what the stock market is or, for that matter, basic finance to Meera. During a casual chat at work, we realised there was no material available to familiarise kids to basic finance. Being India’s leading financial services firm, we somehow felt it was our responsibility to change this, and lo and behold, Rupee Tales was born”.
Nithin further added, “The investor participation in India is still very shallow; around 5 million investors who have traded once a year and not more than 1 million Indians who have traded once a quarter; less than 0.01% of India’s population. We have been able to make inroads, though. To attract our first 90,000 clients, it took us five years, but with the launch of our zero-brokerage offering on equity investments and continuously improving technology offerings we have been able to quickly increase our client base to over 325,000 in the last 12 months.”
“For an informed investor, buying mutual funds directly is the best option. SIP of Rs 5000 monthly invested for 25 years in direct vs distributor can potentially save Rs 28 lakh as commissions. Buying direct mutual fund in demat also gives the convenience of a single portfolio view,”Nithin added.