Hyderabad: Brokerage firm Zerodha, as part of its investor education initiatives, launched Rupee Tales, a set of five story books that attempt to familiarise children above 7 years with basic financial concepts.
Speaking on the occasion, Nitihin Kamath, founder and chief executive officer, said investor participation in India is shallow. About five million investors have traded once a year and not more than one million Indians have traded more than once in a quarter. This is 0.01 per cent of the population.
Currently, Zerodha has 2.2 lakh customers but getting its first 90,000 customers took five years. It launched zero brokerage on equity investments and improved technology to increase it subscriber base in the last 12 months. In Hyderabad, Zerodha has grown over 100 per cent for FY2016-17 with 12,000 clients and has two branches and one call/trade office. It now charges Rs 20 per trading session, irrespective of the volume.
According to him, fixed deposits are the most preferred saving instruments despite the lower returns compared to others. About ten per cent of the surplus goes into equity market. The debt market is still not among the favourites, he said.
To aid investors in making informed investment decisions, it had earlier launched initiatives like Varisty and Trading and Q&A . Rupee Tales, priced Rs 470, covers savings, banking and inflation, taxes, insurance and stock markets. The financial inclusion for all dream hinged on how the younger generation adapts to it, he said about the need for the books.