A

Specialization Project Report

On

A STUDY ON INVESTOR’S PERCEPTION TOWARDS INVESTMENT

AVENUES-WITH SPECIAL REFERENCE TO GENDER AS A
DEMOGRAPHIC FACTOR

In the partial fulfillment of the Degree of

Master of Management Studies (Finance)

under the University of Mumbai

By

Sharmila Bhimrao Bandekar

Class: MMS-A & Roll No: 04

Specialization: Finance

Batch: 2019-21

Under the Guidance of

Prof. Kinjal Shethia

ATHARVA INSTITUTE OF MANAGEMENT STUDIES

Malad-Marve Road, Charkop Naka,

Malad (West), Mumbai 400 095.

1
 DECLARATION

I hereby declare that the project report entitled “A STUDY ON INVESTORS

PERCEPTION TOWARDS INVESTMENT AVENUES-WITH SPECIAL

REFERENCE TO GENDER AS A DEMOGRAPHIC FACTOR.” submitted as a

part of the study of MMS Degree is my original work and the Project has not formed

the basis for the award of any other degree, associate ship, fellowship or any other

similar titles.

Place: Mumbai

Date:

Signature of the Student

2
 CERTIFICATE

This is to certify that the project entitled “A STUDY ON INVESTORS

PERCEPTION TOWARDS INVESTMENT AVENUES-WITH SPECIAL

REFERENCE TO GENDER AS A DEMOGRAPHIC FACTOR.” is the bonafied work

carried out by Sharmila Bhimrao Bandekar student of MMS., Atharva Institute of

Management Studies, during the year 2019-2021 in the partial fulfillment of the requirements

for the Degree of Master of Management Studies and that the project has not formed the basis

for the award of any other degree, associate ship, fellowship or any other similar titles.

Place: Mumbai

Date:

Signature of the Guide Signature of Director

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 ACKNOWLEDGEMENT

About my Project, I would like to thank each one who offered help, guideline, and
support whenever required.

First and foremost, I would like to express my deepest gratitude to Prof. Kinjal Shethia
for his valuable time and advice in the making of this project. Without his support and
guidance, the completion of the project would not have been possible.

The faculty members of ATHARVA INSTITUTE OF MANAGEMENT STUDIES

who provided me with valuable insights into the completion of this project.

I would like to express my gratitude to my mentor, who extended his guidance and
support for bringing out this report in the best possible way. Also helping me in
selecting the topic for my black book project.

Sharmila Bhimrao Bandekar

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 ABSTRACT

India, usually all investment avenues professed risky by the investors. The main
features of investments are security of principal amount, liquidity, income stability,
approval and easy transferability. Investment avenues are available such as shares,
bank, companies, gold and silver, real estate, life insurance, postal savings and so on. The
required level of returns and the risk tolerance decided the choice of the investor. The
investment may be differ choices from national savings certificates, provident fund, mutual
fund schemes, insurance schemes, chit funds, bank fixed deposits, and company fixed
deposits, company shares, bonds /debentures, government securities, postal savings
schemes and real estate. It would be concluded that in this fast affecting world, we save get
extra money. Added risk directs to more profit. For the example total liquidity, income
stability a variety as shares, bank companies, gold and silver, real estate, life insurance
postal etc., but, most of the people preferred bank deposit by the cause of more respondents
invested for purchasing home and long-term growth but, most of the investors could
not aware to investing their money in mutual funds and shares. More of debate and
confusions in the investment pattern, investment avenues. Therefore, in this project, the
researcher wants to check the earlier research work based on investors among the
investment avenues to get an idea about the investment pattern.

Keywords:
Investment, Investors Perception, Investment Avenues, Gender

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 TABLE OF CONTENT

CHAPTER 1: INTRODUCTION..............................................................................................8

CHAPTER 2: INVESTMENT AVENUES IN INDIA...............................................................16

CHAPTER 3:REVIEW OF LITERATURE.............................................................................28

CHAPTER 4:RESEARCH METHODOLOGY…………………………………………………....34

CHAPTER 5:DATA ANALYSIS & INTERPRETATION……...………………………………….37

CHAPTER 6: FINDINGS & RECOMMENDATIOND.............................................................59

CHAPTER 7:CONCLUSION……………………………………………………………………… 60

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 CHAPTER 1

INTRODUCTION

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 INTRODUCTION

The most significant financial feature in modern products is an effective allocation of

resources. It requires choices to commit the company funds to the long-term. Capital
budgeting decisions are of tremendous significance to the company because they help to
decide its value by affecting its growth, profitability and risk.A company's capital budgeting
decisions are usually referred to as the investment evaluation, or decisions on capital
expenditure. A decision on capital budgeting can be described as the company's decisions to
invest its current funds most effectively in long-term assets in order to predict an anticipated
flow of benefits over a series of years.

INVESTMENT:

After opening up the economy in the early 1990's, India saw higher economic growth.
Economic development has boosted individuals' income levels. A higher amount of income
means more capital available for investment.

An investment is an asset or item acquired with the intention of producing revenue or

appreciation. Appreciation refers to an improvement over time in an asset's value. If a person
buys a good as an investment, the aim is not to consume the good, but rather to use it to
establish wealth in the future. An investment is a method used, among other examples, to
produce future profits, including securities, bonds, real estate property, or a corporation.
Investments are normally listed on a different cash line and may appear as short-term or long-
term assets depending on the form of investment and the investment retention strategy of the
management. For example, a financial professional can now purchase a money-related
resource with the possibility that the resource will yield revenue later on or be sold for a
profit at a more exorbitant cost later.

The objective of the act of investing is to generate revenue and increase value over time. An
investment can refer to any mechanism used for future revenue generation. Among other
examples, this includes the purchase of stocks, bonds or real estate property. Also, it can be

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considered an investment to buy a property that can be used to produce products. There is a
certain amount of risk associated with an investment since investing is geared towards the
potential for profits or future growth. An investment may not generate any revenue at some
point, or may actually lose value over time. It's also a possibility, for instance, that you will
invest in a business that ends up going bankrupt or a project that fails to materialise. This is
the primary way in which saving can be distinguished from investment: saving accumulates
money for future use and does not involve any risk, whereas investment is the act of
leveraging money for future growth and involves some risk.

INVESTORS PERCEPTION:

Perception is the process of arranging and interpreting sensory information to gain

consciousness or awareness of the world.

INVESTMENT AVENUES:

Investment scenario as a banyan tree which, through the introduction of new investment
avenues with unique features to attract investors to the investment world, grows day by day.

Investment avenues are the various ways in which an individual may invest his capital. They
are sometimes referred to as investment alternatives, investment instruments or investment
schemes. Investment in any of the avenues depends on the needs and requirements of the
investor. Corporates and individuals have different needs. Before investing, these avenues of
investments need to be analyzed in terms of their risk, return, term, convenience, liquidity
etc.

Most investors want to make investments in such a way that, without the risk of losing
principal money, they get sky high returns as soon as possible. This is why many are still
searching for top investment plans where they can double their money in a few months or
years with little to no risk.However, in an investment product, sadly, there is no high return,
low risk mix. In fact, risk and returns are closely linked, they go hand in hand. i.e., higher
returns, higher risk and vice- versa.

9
Here is a look at Indians looking at the top 10 investment avenues when saving for their
financial objectives.

1. Direct Equity: As it is a risky asset class and there is no guarantee of returns, investing in
stocks can not be everyone's cup of tea. In addition, it is not only difficult to select the right
stock, it is also not easy to plan your entry and exit. The only silver lining is that, relative to
all other asset groups, equity has been able to deliver better than inflation-adjusted returns
over long periods.

2. Mutual funds for equity: Equity mutual fund schemes invest mainly in equity stocks.
According to the current Mutual Fund Regulations of the Securities and Exchange Board of
India (Sebi), an equity mutual fund scheme must invest at least 65% of its assets in equity and
equity instruments. It is possible to actively manage or passively manage an equity fund.

3. Mutual funds from debt: For investors who want steady returns, debt mutual fund
schemes are acceptable. Compared to equity funds, they are less volatile and therefore
considered less risky. Debt mutual funds invest mainly in assets producing fixed interest,
such as corporate bonds, government securities, treasury bills, commercial paper and other
instruments of the money market.

4. National Scheme of Pensions (NPS): The National Pension Scheme is a long-term

pension-oriented investment product operated by the Regulatory and Growth Authority of the
Pension Fund (PFRDA). The minimum annual (April-March) contribution to remain active
for an NPS Tier-1 account was reduced from Rs 6,000 to Rs 1,000.

5. Fund for the Public Provident (PPF): The Public Provident Fund is one commodity that
many individuals turn to. The effect of the compounding of tax-free interest is immense,
particularly in later years, as the PPF has a long tenure of 15 years. In addition, since the
interest received and the principal invested is backed by a sovereign guarantee, it is a secure
investment.

6. Fixed Deposit Fund (FD): A fixed deposit from a bank is considered a comparatively
safer option for investing in India (than equity or mutual funds). Each depositor in a bank is
insured up to a limit of Rs 5 lakh under the Deposit Insurance and Credit Guarantee
10
Corporation (DICGC) rules with effect from 4 February 2020 for both principal and interest
amounts.

7. Saving Scheme for Senior Citizens (SCSS): The Senior Citizens' Saving Scheme,
undoubtedly the first option of most retirees, is a must-have in their investment portfolios.
Only senior citizens or early retirees may invest in this programme, as the name suggests.
Anyone over 60. can use SCSS from a post office or a bank.

8. About Real Estate: The house in which you reside is for self-consumption and should
never be treated as an investment. If you do not plan to live in it, your investment might be
the second property you purchase. The property's position is the single most important factor
that defines the value of your property and also the rent it will receive.

9. Gold : In the context of jewellery, owning gold has its own problems, such as protection
and high cost. Then there are the 'making fees' that usually range from 6-14% of the cost of
gold (and may go as high as 25 percent in case of special designs). There's still an
opportunity for those who would like to purchase gold coins.

Taxable RBI Bonds :

RBI used to issue 7.75% Savings (Taxable) Bonds as an investment option earlier. However,
with effect from May 29, 2020, the central bank has stopped issuing these bonds. These
bonds were introduced by replacing with effect from 10 January 2018 the former 8 percent
Savings (Taxable) Bonds 2003 with the 7.75 percent Savings (Taxable) Bonds. The term of
those bonds was 7 years.

The Floating Rate Savings Bond 2020 was introduced by the Central Bank with effect from
July 1, 2020. (Taxable). The biggest difference between the previous 7.75 percent savings
bonds and the newly introduced floating rate bond is that every six months, the interest rate
on the newly launched savings bond is subject to a reset. The interest rate was set for the
whole period of the investment in the 7.75 percent bonds. The first interest rate reset is due
on January 1, 2021.

DEMOGRAPHIC FACTOR:

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Features that define a specific group within a population. These are variables that are used to
define a person's or a population's features. Variables such as race, age, income, marital
status, and educational achievement, among others, include several widely used demographic
variables. The study of a population based on variables such as age, ethnicity, and sex is
demographic analysis.

GENDER DIFFERENCES:

Investment decisions are also found to be difficult as there are several variables to consider
when selecting equity or a stock to invest in or trade in. These socio-economic, demographic
and attitudinal variables serve as key factors for investment decisions. Individuals act
differently when investing, since an individual's investment conduct depends on how much
risk an individual is willing to take and what his or her goals are in terms of investment
returns. On an average, women are less educated about money issues and investment than
men. When saving, women are more cautious and are reluctant to take risks. Thus, women
should be offered financial products which, in terms of risk and return characteristics, are
ideally suited to them.The creators and advertisers of these financial products should also
consider the gender disparities in individuals' investment behaviour. Against this context, the
present research is an attempt to examine the gender gaps between investors in investment
behaviour.

As compared to men, only half of Indian women make independent investment decisions,
even as a significant proportion of the workforce in the industry is female, according to a
survey. Just 33 percent of women take independent investment decisions, compared to 64
percent of men, according to the results of the DSP Winvestor Pulse 2019 Survey in
collaboration with polling agency Nielsen.

The study found that when it comes to decision making when investing or purchasing a car or
home, men dominate. Girls, on the other hand, have a greater role to play in the purchasing of
gold / jewellery, everyday household transactions and durable goods. Moreover, only 12% of
women said that their decision was 100% against 31% of men when investing in market-
based instruments (stocks, equity MFs, etc.).In order to understand their priorities and views
on wealth, the survey covered 4,013 women and men across 8 cities. The research gathers

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responses from the 25-60 age group of 1,853 men and 2,160 women who have been
interested in investment decision-making.

OBJECTIVES

This study focuses on investment behavior of Male and Female investors and the factors that
influence their investment decisions. An in depth analysis is made in terms of their financial
goals and their investment options they invest in and how aggressive they are in terms of
investing. The objectives are as follows,

 To study the various alternatives of investment which are available in the Market.
 To study the Gender differences in satisfaction level towards various investment
instruments.
 To understand the Gender differences in Risk appetite of investors.
 To find out whether the women investors are looking for long term growth or return
or liquidity.
 To understand the needs and wants of the respondents with respect to their financial
requirements in their life.
 To have an understanding of the respondents saving pattern.

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 HYPOTHESIS

A number of researches have shown that investment choice is affected by various factors
associated with the individual. Our main aim in this study is to explore the Gender
differences in investment avenues thus following hypothesis have been proposed.

Hypothesis 1

H0 : There is no significant relation between Risk tolerance level and Gender.

H1 : There is significant relation between Risk tolerance level and Gender.

Hypothesis 2

H0 : There is no significant relation between perception of investment avenues and Gender.

H1 : There is significant relation between perception of investment avenues and Gender.

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 CHAPTER 2

INVESTMENT AVENUES IN INDIA

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 INVESTMENT
An Investment is basically a resource that is made with the expectation of permitting cash to
develop. The abundance made can be utilized for an assortment of destinations like gathering
deficiencies in pay, putting something aside for retirement, or satisfying certain particular
commitments like reimbursement of advances, installment of educational expenses, or
acquisition of different resources.

An Investment may create pay for you. One, on the off chance that you put resources into a
saleable resource, you may procure pay via benefit. Second, on the off chance that
Investment is made in a return producing plan, you will procure a pay by means of collection
of gains. In this sense, 'what is Investment ' can be perceived by saying that speculations are
tied in with placing your investment funds into resources or items that become worth more
than their underlying worth or those that will help produce a pay with time.

Monetarily talking, a Investment implies a resource that is gotten with the aim of permitting it
to appreciate in an incentive over the long haul.

An investment is an asset or item acquired with the intention of producing revenue or

appreciation. Appreciation refers to an improvement over time in an asset's value. If a person
buys a good as an investment, the aim is not to consume the good, but rather to use it to
establish wealth in the future. An investment is a method used, among other examples, to
produce future profits, including securities, bonds, real estate property, or a corporation.
Investments are normally listed on a different cash line and may appear as short-term or long-
term assets depending on the form of investment and the investment retention strategy of the
management.For example, a financial professional can now purchase a money-related
resource with the possibility that the resource will yield revenue later on or be sold for a
profit at a more exorbitant cost later.

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 OBJECTIVES OF INVESTMENT

Before you choose to put your income in any of the numerous venture plans accessible in
India, it's fundamental to comprehend the purposes for contributing. While the individual
targets of speculation may fluctuate starting with one financial backer then onto the next, the
general objectives of putting away cash might be any of the accompanying reasons.

Motivations to Start Investing Today

1. To Keep Money Safe: Capital safeguarding is one of the essential reasons individuals put
away their cash. A few ventures help hold hard-brought in cash protected back from being
disintegrated with time. By stopping your assets in these instruments or plans, you can
guarantee that you don't outlast your reserve funds.

2. To Help Money Grow: Another basic goal of putting away cash is to guarantee that it
develops into a sizable corpus after some time. Capital appreciation is for the most part a
drawn out objective that assists individuals with getting their monetary future. To bring in the
cash you procure develop into riches, you need to consider speculation alternatives that offer
a huge profit from the underlying sum contributed.

3. To Earn a Steady Stream of Income: Speculations can likewise assist you with
procuring a consistent wellspring of optional (or essential) pay. Instances of such
speculations incorporate fixed stores that pay out ordinary premium or loads of organizations
that deliver financial backers profits reliably. Pay producing speculations can help you pay
for your regular costs after you've resigned.

4. To Minimize the Burden of Tax: Beside capital development or safeguarding, financial

backers additionally have another convincing motivation to think about specific ventures.
This inspiration comes as tax reductions offered by the Income Tax Act, 1961.

6. To Meet your Financial Goals: Contributing can likewise assist you with accomplishing
your present moment and long haul monetary objectives without a lot pressure or
inconvenience. Some venture choices, for example, accompany short lock-in periods and
high liquidity.

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 CATEGORIES OF INVESTMENT

1. Ownership Investments:

Proprietorship ventures, as the name obviously recommends, are resources that are bought
and possessed by the financial backer. Instances of this sort of speculation incorporate stocks,
land properties, and bullion, among others. Subsidizing a business is additionally a sort of
proprietorship venture.

2. Lending Investments:

At the point when you put resources into loaning instruments, you're basically acting like the
bank. Corporate securities, government securities, and even bank accounts are generally
instances of loaning speculations. The cash you park in an investment account is essentially a
credit that you give the bank. This cash is utilized by the bank to finance the credits it offers
out to its clients.

3. Cash Equivalents:

These are speculations that are profoundly fluid and can without much of a stretch be
changed over into money. Currency market instruments, for example, are phenomenal
instances of money reciprocals. Money reciprocals for the most part offer low returns, yet
correspondingly, the danger related with them is additionally unimportant.

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 CHARATERISTICS OF INVESTMENT

 Return :
All Investments are described by the assumption for a return. In fact, investments are
made with the essential goal of determining a return. The return may be gotten as
yield in addition to capital appreciation. The difference between the deal cost and the
price tag is capital appreciation. .The dividend or premium got from the speculation is
the yield. Distinctive types of speculations guarantee various paces of return.
 Risk:
Risk is characteristic in any Investment. The danger may identify with loss of
capital,delay in reimbursement of capital, non installment of premium, or fluctuation
of returns.While a few Investments like government securities& bank stores are
almost risk less, others are more dangerous. The danger of an investment depends on
the following factors.
 The more extended the development period, the more is the danger.
 The lower the credit value of the borrower, the higher is the risk.The hazard differs
with the idea of venture.
 Safety:
The security of a speculation infers the assurance of return of capital without
deficiency of money or time. Security is another highlights which an investors desire
for his Investment.
 Liquidity:
An Investment, which is effectively saleable, or attractive without misfortune of
money and without loss of time is said to have liquidity. A few ventures like company
stores, bank stores, P.O. stores, NSC, NSS and so on are not marketable. Some
speculation instrument like inclination shares and debentures are attractive, yet there
are no purchasers as a rule and subsequently their liquidity is negligible. Value
portions of organizations recorded on stock trades are easily marketable through the
stock trades.

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 INVESTOR

A financial backer is any individual or other substance (like a firm or shared asset) who
submits capital with the assumption for getting monetary returns. Financial backers depend
on various monetary instruments to procure a pace of return and achieve significant monetary
destinations like structure retirement investment funds, subsidizing an advanced degree, or
simply aggregating extra abundance over the long haul.

A wide assortment of venture vehicles exist to achieve objectives, including (yet not
restricted to) stocks, securities, wares, shared assets, trade exchanged assets (ETFs), choices,
prospects, unfamiliar trade, gold, silver, retirement plans, and land. Financial backers can
examine openings from various points, and for the most part really like to limit hazard while
expanding returns.

An Investors are not a uniform bundle. They have changing danger resiliencies, capital,
styles, inclinations, and time spans. For example, a few financial backers may incline toward
extremely generally safe speculations that will prompt traditionalist increases, like
authentications of stores and certain bond items. Different financial backers, nonetheless, are
more disposed to face extra challenge trying to make a bigger benefit. These financial
backers may put resources into monetary forms, developing business sectors, or stocks, all
while managing an exciting ride of various elements consistently.

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 CATEGORIES OF INVESTOR

While there are as many investing styles as there are investors, most investors
fall more or less into one of three categories. This is as follows,

 Conservative Investor:
A Conservative Investor is somebody who needs his cash to develop yet doesn't have
any desire to chance his rule speculation. Traditionalist Investor pick monetary items
that don't vary much in esteem, like moderate common assets. This is an astute
venture technique when the speculation cash is required soon or when the economy is
amidst a significant plunge. In any case, moderate Investor pass up dangerous
development during seasons of monetary success.
Traditionalist Investor center around building portfolios with more secure ventures
that are probably not going to see enormous worth changes.
While the best portfolio for a forceful Investor could have more dangerous stocks
from shiny new organizations, many blue chip stocks can engage a traditionalist
Investor. These are normally enormous, set up organizations with a long record of
delivering consistent profits. Their offer costs don't vary however much more forceful
stocks do.

 Moderate Investor:
Moderate Investor are more worried about relative yet stable development in
abundance of those given by traditionalist assets. They will endure more variances in
return for more sensible returns, however are as yet not happy enough with market
danger to contribute their assets forcefully.
Normally when making reserve choices dependent on time periods moderate assets
would fall into a 5 – long term (medium term) venture time period. Anyway many
moderate Investors will in general put together their asset choice with respect to their
danger profile rather than time span as they probably are aware they are agreeable
enough with market changes to put their money in reserves that have more openness
to resource classes like property and value to take into account more development.
.

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 Aggressive Investor:
An Aggressive Investor effectively searches for stocks with higher danger—however
a possibility for higher prize. Exceptionally Aggressive Investor will regularly search
for penny stocks in mineral investigation, new programming, biotech, etc.
The most unstable areas that forceful Investor normally search out are the Resources
and Manufacturing areas.
An Aggressive Investor places an enormous piece of their portfolios in stocks (or
ETFs) of less grounded organizations without a background marked by income or
profits.
An Aggressive Investor at times gets better yields for facing enormous challenges,
yet should effectively screen the stocks they put resources into. Since the securities
exchange (and the forceful stock itself) can be exceptionally unpredictable, watching
out for those stocks is an unquestionable requirement.
An Aggressive Investor , specifically, see that they can profit by forceful contributing
in light of the fact that they're consequently given the upside of time, rather than
financial backers who make some more limited memories left to contribute. The
measure of time that youthful Investor have, they think, gives them space to stand out
down periods in the securities exchange.

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 INVESTMENT AVENUES

Investment avenues are the various ways in which an individual may invest his capital. They
are sometimes referred to as investment alternatives, investment instruments or investment
schemes. Investment in any of the avenues depends on the needs and requirements of the
investor. Corporates and individuals have different needs. Before investing, these avenues of
investments need to be analyzed in terms of their risk, return, term, convenience, liquidity
etc.

Most investors want to make investments in such a way that, without the risk of losing
principal money, they get sky high returns as soon as possible. This is why many are still
searching for top investment plans where they can double their money in a few months or
years with little to no risk.However, in an investment product, sadly, there is no high return,
low risk mix. In fact, risk and returns are closely linked, they go hand in hand. i.e., higher
returns, higher risk and vice versa.
A restrained economy is an obligatory prerequisite for every single individual. Cash is only a
mechanism of trade which completely relies upon esteem. With the progressing time
estimation of things may increment or decline. Like 1rupee coin's worth was diverse a couple
of years prior in contrast with the current year. Consequently, we need to work savvy in
picking plans among Various Investment Avenues in India.

In spite of the fact that reserve funds and Investment are two between related terms yet some
place there is a slender line between the two. Reserve funds implies just gathering riches
while Investment accompanies a forceful route with a sensible return. Now and again,
because of absence of information a few group set aside cash either in the home or in a bank.
They don't comprehend through expansion, the estimation of cash is expanding step by step.
On the off chance that they don't put the cash in a legitimate manner, they will always unable
to beat the colossal expansion rate. In this way, you should be extremely cautious and
insightful while settling on the got and stable venture choice for what's to come.

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 TYPES OF INVESTMENT AVENUES

Any kind of Investment accompanies an assumption for a beneficial return. Everyone knows
the requirement for the venture however the greater part of them don't have the foggiest idea
about the reasonable medium to do as such. Along these lines because of absence of
legitimate information, they lose the profitable chance. We can write down significant
mechanisms of venture. In this article, you will ready to get brief conversations about Various
Investment Avenues Available in India.

Investment alternatives can be grouped into numerous classifications. There are essentially
three components on which the arrangement is made. The variables are the danger, return,
span. In India, there are many speculation choices accessible in India, so it is absurd to expect
to portray every one of them. I've attempted to pick the best plans of all.

 Bank Savings or FD:

This way is the most gotten speculation road accessible in India. One thing ought to
be obvious to you that the more you can face the challenge, the more return you will
ready to get. Danger and return calculate consistently go a similar course in the
monetary market. Here, financial backers can pick your length and sum as indicated
by your ability. Here, investors just search for the monetary capacity of the chose
bank, in any case, this speculation holds close around zero danger proportion.

 Bonds and Debentures:

Bonds and Debentures are the most notable security choices in India. They are given
by companies and establishments. By and large, bonds are given by PSU. Thus, the
danger is very low here in contrast with different alternatives. In spite of the fact that
more often than not, the two bonds and debentures utilize practically similarly, they
do exclude similar highlights. Bonds resembles a credit, gotten by explicit resources
while debenture isn't gotten by a resource.

 Mutual Funds:

24
 This venture elective conveys medium danger and reasonably exceptional yield with
it. Field of the shared asset is very huge. As indicated by the danger and return
factors, there are a large number of plans or plans under it. For instance, SIP
(Systematic Investment Plan), SWP (Systematic Withdrawal Plan), MIP (Monthly
Income Plan) and so forth Extensively we can sort the shared asset into two segment,
Open-finished (can enter-leave any time), Close-ended(can exit at development
period).

 Equity:
It is the most unstable and hazardous market of everything except with most elevated
productive bring limit back. Like shared assets, value field likewise the greatest one.
There are the assortment of choices accessible in the value market. Forceful financial
backers who have information and involvement with the securities exchange may
bring in great many cash from it. Here, in this field, the more educated you are, the
more fruitful you will be. There is no development period by any stretch of the
imagination. Investors can exchange on the one-day premise or long haul according to
their desire.

 Commodity:
Value and product exchange occur through a demat account. Actually like value
investors can contribute for ware moreover. The danger factor and return are
equivalent to value. There is likewise no development period. You can exchange
according to your own decision capable term.

 Real Estate:
Appropriately rate are expanding step by step which has made land a hot speculation
elective. Through purchasing, selling and holding of appropriately, investors can
make an enormous beneficial return. Enthusiasm for property makes land a beneficial
venture instrument in contrast with other.
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 Small Govt Investment Schemes:

Individuals with low-pay rate and most minimal danger carrier may apply for little
Govt speculation plans. In the event that you update the legitimate record of Govt
strategies and plans, you can see there are a few little govt ventures plans. Some of
them are Employees Provident Fund, Sukanya Samriddhi Schemes, National Pension
Schemes and so forth

 Gold:
Interest in gold is an antiquated road of speculation. Gold cost is progressively
expanding step by step. Subsequently, a few investors pick gold as their investment
elective. With the expanding estimation of gold, investors take benefit from it.

 Fixed Deposit Fund (FD) :

A fixed deposit from a bank is considered a comparatively safer option for investing
in India (than equity or mutual funds). Each depositor in a bank is insured up to a
limit of Rs 5 lakh under the Deposit Insurance and Credit Guarantee Corporation
(DICGC) rules with effect from 4 February 2020 for both principal and interest
amounts.

26
 CHAPTER 3

LITERATURE REVIEW

27
 REVIEW OF LITERATURE

Kathirvel And Mekala (2010) made an attempt to analyse investors' investment behaviour.
The research was performed on 150 women, Coimbatore District Respondents in Tamilnadu.
The findings showed that there was a lack of knowledge of the stock market and various
Investment options prohibit women from making money in the stock market.The authors
concluded that stock instability and high volatility The challenge for women investors is the
business.

Durga rao et.al (2014) The different investment areas available for investment were
analysed. The stock market increases the ability of corporations and companies to collect
funds. It directs the savings of the household to lucrative avenues. The authors felt that if the
stock market deals are easy and simple, the authors felt that stock market deals are simple and
simple. Investors have sufficient knowledge of all elements of the stock market.Investor
investment patterns rely on the risk of investors It is important to understand the level and
attitude of investors and to understand stock trading. Investors invest primarily in mutual
funds, Shares and insurance. The authors concluded that awareness programmes and
seminars for investors are still needed.

Malathy and Saranya (2017) explored the factors which directly influence the perception of
investors for investment in stock market. The study found different factors, such as the level
of return and risk, profitability, Share price, market demand, policy on dividends, picture of
the company and financial results.The decision is heavily influenced by these variables
Investment and some of the variables were highly ranked, such as return on investment,
corporate image, dividend policy and financial performance. The most critical factor
influencing investment is the return on investment perceived by investors. The main goal of
the investor is to choose because the desired return is to be received.

Koti (2014) analysed investor conduct for different categories of investors. Avenues of
investment and the perception of Hubli area investors towards the stock market. The results
revealed that investors make Investment by buying a home and keeping its future secure.
These are the key purposes of investing their assets in the stock market.The authors

28
concluded that investors generally prefer bank deposit investments and their successful
source of investment was the internet, Friends and family.

Assefa and Rao (2018) examined the investment preferences, for different avenues for
investment. The information was collected from workers in Wolaita Sodo, Ethiopia. The
results revealed The overall level of investor awareness in Ethiopia is low, and most of the
respondents were not aware of the financial situation. Stock principles, shares, mutual funds,
and compound interest.The respondents had the same preference orders as the respondents
For all avenues of investment.

B. N. Panda, J. K. Panda (2012) The analysis analyses the disparity in investor understanding
in Decision to invest on an age and gender basis. Different options for investment are
discussed in Such reports, such as protected deposits, life insurance plans, mutual funds,
pension funds, Bonds, debentures, preferred shares, mutual funds, immovable land, postal
schemes, etc. Investment decisions are decisions regarding investment.

Sharma & Agarwal (2015) tried to understand the effect of demographic variables on mutual
funds. Decisions about investment. The study notes that the view of investors depends on
their demographic profile. The age, marital status and occupation of an investor have a
significant effect on the investment option of the investor.The Research also shows that
liquidity and transparency are some variables that have a high effect on liquidity and
transparency.

BabakJamshidinavid et al (2012) analysed The effect of demographic and psychological

characteristics on demographic and psychological characteristics.The investment prejudice in
Tehran. Based on a simple random basis, 215 respondents were chosen.The research The four
personality features, i.e. extraversion, openness, neuroticism and compatibility, were
concluded and the The three behavioural biases are greatly affected by three demographics,
i.e. age, gender and education. I.e. overconfidence, consequence of temperament and
investment herding.

AnkitaRajdev(2013)Analysis of the impact of demographic factors on investor investment

choices Using SPSS in Bhopal. The gender gaps were found to be substantial for shares,
bonds, Reciprocal fund and fixed loan. It was found that female respondents were traditional,

29
whereas males were found Noxious investors to be.Age was significantly correlated with
investment in fixed deposits, jewellery and jewellery. With insurance. Although there is no
important relationship between marital status and the choice of investment made by They saw
the investor.

P. and ChPavani. Anirudh (2010) An investor behaviour study was carried out on the
demographics and demographics Investor psychographics of 80 respondents, taking into
account parameters such as age, gender, income, etc. Selected in Hyderabad randomly.
Tabulated and presented percentage wise was the data obtained.TheResearch has shown that
women of all ages save or save to protect their own future and their future. The households,
They typically invest in investments that are risk free or less risky. Women in the 20-30 age
group Mutual funds were favoured over shares, while women over 30 preferred fixed
deposits and gold investments. While men preferred property and mutual fixed deposits as
they aimed at real estate.

Shukla (2016)3, this research paper, attempted to address the preference of investors for
investment avenues and the The analysis focused solely on the salaried person. The author
concluded that most of the respondents spent their cash They were focused on educational
backgrounds and engaged in home ownership and long-term investment. Respondents have
the answers Investment requirements, such as protection and low risk.

Muruganandam et al. (2015), analysed the proof of the intention of the investor to analyse the
perception of the investor Danger and return on investment shares in the organisation of their
portfolio buildings and portfolio strategies Administration.Suggested that effective businesses
should have a detailed understanding of investor psychology disclosed This proper
diversification of the portfolio would ensure higher returns, higher wages and high liquidity
for investors. And the least risk involved.

Mishra (2015) explained that the purpose of this study was to study investor perception of
mutual funds with Travel the important aspects of mutual funds influencing investor
perception and explored the disparity in perception of investor perception. Based on studied
variables, large and small investors. Difference of view evaluated with the aid of 't' test on
mutual fund.Small investors also concentrated on tax returns and investments, but large

30
investors are anticipating potential returns. Thus, mutual fund firms For their survival and
growth in the Indian context, these sizes must be given due significance.

Srividhya, S. Visalakshi (2013) analysed the various investment paths.The report includes
government colleges, private colleges and supported colleges, government deposits, bonds,
real estate, post office saving certificates, life insurance plans, mutual funds, etc. It notes that
under one lakh maximum teachers save. Highest respondents invest in set participants
Around deposits.

Unmekha Tare, Vishal Mehta (2012) The report analyses the large number of investment
investments Outlets for investors are open. Analysis of investment benefits and drawbacks
An investor can choose the appropriate investment plan for himself.The analysis of data
states that 322 31% of investors chose LIC/NSS, 31% selected fixed deposits, 9% selected
fixed deposits, Mutual funds preferred by investors 6 percent investors opt for Chits and
Jewellary etc. Investments Management is both science and art.

Ravi Vyas (2012)The type of investments preferred by investors is found in this report.
Reciprocal fund Investment is an investment covered with a reasonable return on investment.
Analyses of data indicate that Maximum savings by respondents in Gold are followed by
bank deposits and insurance policies. Reciprocal Investments in funds are very small.In terms
of protection, liquidity, reliability, tax advantages and high Returns The mutual fund has an
average investor ranking.

Priyanka Jain (2012) The study analyses the different investment avenues for the study. From
investors. It states that equity shares have low returns but high appreciation of capital,
liquidity for risk, Marketability, tax advantage, high yield but low risk liquidity and
marketability for debentures. There are moderate returns on bank deposits but poor capital
appreciation and risk liquidity.

Tuan-Hock Ng and others, et. Al. (2011) This article discusses the effect of demographics
and investment Experience in comprehensive retirement preparation. Data research indicates
that investors are between 20 and 20 years of age. 29 Savings for retirement are of greater
importance. Singles spend more in retirement EPFs Yeah, about married people.

31
N. Dharani , et. et. et. (2014) Investment attracts all individuals, regardless of their
profession, Education and place in society. Women also engage in investment operations.
Women Under the Age of 30 are active in activities related to finance. Graduated women are
interested in more spending, Operation. Investment activities include women with incomes of
5,0001 to 100,000.

S. Umamaheshwari, M. Ashok Kumar (2014)This research aims to identify the relationship

between demographic and social factors such as investment attitude, investment awareness
and return on investment that influence the investing decision of the respondent. This
research analyses the investment preferences of salary-classified individuals. Various factors
that influence the decision of respondents, such as age, gender, marital status,Income etc.

32
 CHAPTER 4

RESEARCH METHODOLOGY

33
 RESEARCH METHODOLOGY

Research Methodology:

The present study consists of all those individuals who invest and those who intend to invest
in financial instrument near future. This study is based on sample survey method. This study
mainly assesses the level of awareness, to know the perceived opinion and to measure the
attitude of individual investors towards financial instruments.

The study of research method provides you with the knowledge and skills you need to solve
the problem and meet the challenges of the fast based decision.

The study is mainly related to the Investors perception towards various investment avenues
among Gender.

Sample Technique:

Convenience sampling technique has used for collecting the data from different investors.
The investors are selected by the convenience sampling method. The selection of units from
the population based on their easy availability and accessibility to the researcher is known as
convenience sampling. Appropriateness sampling is at its best in surveys dealing with an
exploratory purpose for generating ideas and hypothesis.

Sample Unit:

The respondents who asked to fill out the questionnaires are the sampling units. These
comprise of Students, Salaried employees, Business people, home maker, Professionals,
Retired persons and other investors.

34
PRIMARY DATA:

Information for this project is collected by a survey by distributing a questionnaire to 50

investors i.e.25 men and 25 women.

These investors are of different age group, different occupation, different income levels and
different status.

Questionnaire: Questionnaire carries 15 Questions.

SECONDARY DATA:

This information is gathered by utilizing following methods,

 Investment Magazines, Business Magazines, Financial Chronicles.

 Expert’s opinion published in various print media.
 Data available on internet through various websites
 Books.

DATA ANALYSIS:

The various tools were used for analyze and interpretation of data and for testing of
hypothesis are :

 Bar graphs
 Pie Chart
 Column graphs
 Chi-square Test

35
 LIMITATIONS OF THE STUDY:

 The sample is only 50 and the opinions of the respondents may not synchronize with
the opinions of the entire population.
 The opinions / preferences expressed by the respondent investors are purely personal
and they are subjected to individual bias in their nature.
 Few respondents are not willing to express their opinion and views on their
investment and have expressed common views on investment practices.
 The lack of knowledge of customer about the financial instrument can be a major
limitation.

36
 CHAPTER 5

DATA ANALYSIS & INTERPRETATION

37
1.Gender Profile:

The following table illustrates the gender profiles of respondents of the study.

Graph:

Gender

Male
Female
50% 50%

Interpretation:
Here, we take 25 Female respondents and 25 Male respondents.

38
2.Age Group Profile of Investors:

The following table illustrates the Age Profile of respondents.

Table:
Age Group No.of Respondents Percentage
Below 20 5 10%
Between 20-30 30 60%
Between 30-40 10 20%
Above 40 5 10%
Total 100 100%

Graph:

Age-Group

10% 10%
20% Below 20
Between 20-30
Between 30-40
Above 40

60%

Interpretation:
20% of investors are below 20 years age group and majority of investors are between 20-30 age
group i.e.60%.20% of investors are between 30-40 years and 10% of investors are above 40%.

39
3.Occupation:
Here ocupation means position of investors in the society. It may be Student,Self employed,Home
maker,Employee,Retired etc.
The following table shows the occupation of investors,
Table:

Home Self
Occupation Student Employee Retired
maker Employed

No.of Respondents 28 2 4 16 0
Percentage 50% 4% 10% 36% 0%

Graph:

Occupation
32%

Student
Home maker
Self Employed
56% Employee
Retired

8%
4%

Interpretation:

40
The above graph illustrates the occupation of investors. Percentage of students are higher as
compared to others.i.e.56%. Home makers are very less i.e.4%. 8% are self employed
investors and 32% are employees.

4. Annual Income:

The important factor which influence the whole investment decision is investors income
level. The following table shows income level of investors.

Table:

Annual Income <200000 2-4lakh 4-6lakh Above 6lakh

No. of Respondents 21 15 7 6
Percentage 40% 30% 18% 12%

Graph:

Annual Income

12%
14%
43% <200000
2-4lakh
4-6lakh
Above 6lakh

31%

Interpretation:

41
From graph we can say that 43% of investors are below 200000 income level which highest
among others and 31% of investor are between 2lakhs to 3 lakhs income level. 14% and 12 %
of investors are between 4-6lakhs and above 6 lakhs income level respectively.

5. Percentage of Saving from Total Income:

The following table shows percentage of savings from total income,

Table:

Between Above
Below 20% Between 20-40%
Savings 40-60% 60%
No.of
Respondents 20 22 62 2
Percentage 42% 46% 10% 12%

Graph:

Savings from Total Income

2%

19%
Below 20%
Between 20-40%
Between 40-60%
Above 60%

21%
58%

Interpretation:

42
From above graph we can say that 58% investors were saved 40-60% of their total income
and this is higher than others.2% of investors were saved above 60% of their income i.e.less.
21% & 19% investors were saved between 20-40% and below 20% from total income.

6. Purpose behind Investment:

The objective behind investment is return, there are some other objectives are there which
motivate investors to invest their funds for wealth creation, tax savings, future expenses etc.
The following graph shows investors perception behind investing.

Table:

Purpose behind Wealth Earn Future

Tax Saving
Investing Creation Return Expenses
No. of Respondents 15 5 13 17
Percentage 32% 4% 34% 30%

Graph:

Purpose behind Investment

30% Interpretation:
34% Wealth Creation
Tax Saving
Above graph shows that
Earn Return
Future Expenses most of the investors are
invest with the objective

10%
of getting future
expenses is 34%. 30%
26%
43
of investors are invest with objective of creating wealth. 26% and 10% of investors make
investment for earning returns and for tax savings respectively.

7. Best Investment Avenues for investing money:

In market there are various investment avenues are available. The following table shows the
investors perception towards different investment avenues.

Table:

Investment Avenues No. of respondents Percentage

Saving Account 38 76%

Bank Fixed Deposits

24 48%

Government Securities
7 14%
Mutual Fund 21 42% Graph:
Bond 3 6%
Life Insurance 26 52%
Debentures 2 4%

Commodity Market
4 8%
FOREX Market 3 6%

Equity Share Market

31 62%

Real Estate(Property)
22 44%
Gold/Silver 24 48%

44
 Investment Avenues
Saving Account
19% Bank Fixed Deposits
12%
11% Government Securities
Mtutual Fund
Bond
12% Life Insurance
Debentures
Commodity Market
15% FOREX Market
3% Equity Share Market
13% Real Estate(Property)
1% 10%
Gold/Silver
2%
1%
1%

Interpretation:

The above graph shows that investors perception towards various investment instrument
available in market. Among the investment avenues 19% of investors choose Saving account
for investing their money and which is higher than other avenues. 12% of investors prefer
bank fixed deposits for investment.10% of investors investor their money in Mutual
Funds.13% of respondents invest money in Life Insurance. 55% of investors prefer Equity
share market of investment.12% of respondents choose Gold/Silver for investing their
money.

45
8. Preferable Sector for investing Money:

Investors are very much concerned about in which sector should invest their funds.In market
there are many sectors available like Banking, Insurance, IT, FMGC and other. Following
table shows different Investment sectors.

Table:

Investment Banking Insurance FMCG

IT Sector Other
sector Sector Sector Sector
No.of
Respondents 19 10 11 9 1

Percentage 34% 28% 20% 14% 4%

Graph:

Investment Sector
40%

30%

20% Interpretation:
Percentage
10%
From above graph it clearly
0%
r r r r er understood that 34% of
c to to ct
o
c to h
Se ec Se Se Ot
g eS IT respondents are interested in
in an
c CG
nk ur FM
Ba In
s Banking Sector.28% of
investors are interested in
Insurance sector.20% and 14% are preferred IT sector and FMGC sector.

9. Purpose of investment:

There is some specific reason for making investment. The following table shows various
purpose of investment.

46
Table:

Home Retirement Othe

Purpose of Education Healthcare Marriage
Purchase Planning r
Investment
No.of
respondents 8 7 15 6 11 3
Percentage 13% 19% 32% 5% 28% 3%

Graph:

Purpose of Investment

6% Education
16%
Home Purchase
22% Healthcare
Marriage
14% Retirement Planning
Other

12%

30%

Interpretation:

From above chart we analyze that 30% of respondents invest their money for Healthcare.22%
of investors investing money for retirement planning.16% of investors invest money for
education.14% of investors invested for home purchase.12% and 6 % respondents invest
money for marriage and other respectively.

10. Factor Influencing investment decision:

There are various factors which influence investment decisions like return, Safety of
principle, Progressive value, maturity period etc.

47
Table:

Factors
Influencing
Safety of Progressive Maturity
Return Diversification
Investment principle value period
decision
No. of
respondents 15 9 2 4 11
Percentage 43% 28% 5% 8% 16%

Graph:

Factor Influencing Investment decision

27%
37%
Return
Safety of principle
Diversification
Progressive value
Maturity period
10%
22%
5%

Interpretation:

From graph we understood that 36% and 22% of investor give preference to Safety of
Principle and return respectively.27% of investors are prefer maturity period.10% and 5% of
respondents are prefer diversification and progressive value.

11. Time Period for Investment:

Time period of investment is important factor that influence investment decision of investor.
The following table shows the period of investment of investment.

Table:
48
 Time Period for
Short-term Long-term Both
Investment

No. of Respondents 12 15 23
Percentage 5% 26% 68%

Graph:

Time period for Investment

24%
Short-term
Long-term
46% Both

30%

Interpretation:

From graph we can see that most of the investors like to invest their money for medium term
i.e for 1-5 years. 30% of investors are preferred to investor for long term and 24% of
respondents prefer short term for investing.

12. Tolerance of risk:

The below table illustrates the level of risk of investors.

Table:

49
Tolerance of Risk High Moderate Low

No. of Respondents 11 23 16
Percentage 18% 45% 37%

Graph:

No. of Respondents

22%
32% High
Moderate
Low

46%

Interpretation:

The above chart shows that 22% of investors are to take high risk. 46% of investors are ready
for moderate risk tolerance level and 32% of investors have low level of risk.

13. Frequency of Investment:

Below table shows the frequency of investment of investors.

Table:

50
Frequency of
Daily Monthly Occasionally
Investment
No. of Respondents 10 21 19
Percentage 6% 62% 32%

Graph:

Frequency of Investment
20%
38%
Daily
Monthly
Occasionally

42%

Interpretation:

From graph we analyzed that 42% of investors are monitoring their investment monthly. 38%
of respondents are monitoring their investment monthly and 20% are monitoring daily.

14. Satisfaction Level of Investment:

The following table shows the satisfaction level of investors.

Table:

51
Satisfaction level Satisfied Partially Satisfied Dis-satisfied
from Investment
No. of Respondents 9 23 18
Percentage 18% 46% 36%

Graph:

Satisfaction Level

18%

36% Satisfied
Partially Satisfied
Dis-satisfied

46%

Interpretation:

From above chart it clearly shows that 46% of investors are partially satisfied with their
investment.36% are dis-satisfied with the investment they make.18% are satisfied from their
investment.

HYPOTHESIS TESTING

CHI-SQUARE TEST:

52
A chi-squared test (emblematically addressed as χ2) is fundamentally an information
examination based on perceptions of an irregular arrangement of factors. Ordinarily, it is an
examination of two measurable informational indexes. The chi-square test is utilized to
appraise how likely the perceptions that are made would be, by thinking about the
presumption of the invalid theory as evident.

A theory is a thought, that a given condition or explanation may be valid, which we can test
subsequently.

P represents likelihood here. To figure the p-esteem, chi-square test is utilized in

measurements. The various estimations of p shows the diverse speculation translation, are
given underneath:

 P≤ 0.05; Hypothesis dismissed

 P>.05; Hypothesis Accepted

Equation:

The chi-squared test is done to check if there is any distinction between the noticed worth and
anticipated worth. The recipe for chi-square can be composed as;

χ2 = ∑(Oi – Ei)2/Ei

where,

Oi =observed esteem

Ei=expected esteem.

Hypothesis 1

H0 : There is no significant relation between Risk tolerance level and Gender.

53
 H1 : There is significant relation between Risk tolerance level and Gender.

Table:

Gender
Male Female Total
Risk High 7 5 12
Tolerance Moderate 11 12 23
Level Low 10 8 15
Total 25 25 50

O E O-E (O-E)2 (O-E)2/E

7 6 1 1 0.1667
11 11.5 -0.5 0.25 0.0217
10 7.5 2.5 6.25 0.8333
5 6 -1 1 0.1667 Interpretation:
12 11.5 0.5 0.25 0.0217
Calculated 𝜒2=1.2435
8 7.5 0.5 0.25 0.0333
 𝜒2 1.2435
No of degrees of freedom=n-1=3-
1=2

Tabulated value of  𝜒2 for 5 degree of freedom at 5% level=5.991

Result:

Calculated  2 < Tabulated  𝜒2

Hence we reject the null hypothesis H0.

Conclusion:

There is significant relationship between Risk tolerance level and Gender.

54
Graph:

Level of Risk
60%

50%

40% Male
Female
30%

20%

10%

0%
High Moderate Low

Interpretation:

From above analysis we can see that both female and male investors are taking moderate risk.
Female investors are low risk takers i.e.31% as compared to Male investors. Male investors
were take high risk than female investors i.e.25%. There is significant relationship between
Risk tolerance level and Gender.

Hypothesis 2

H0 : There is no significant relation between perception of investment avenues and Gender.

H1 : There is significant relation between perception of investment avenues and Gender.

Table:

55
 Investment avenues Female Male
Saving Account 20 19 Investment avenues Female Male
Bank Fixed Deposits 12 18 Debentures 0 1
Government Securities Commodity Market 2 3
2 4
Mutual Fund FOREX Market 0 2
8 10
Bond 0 2 Equity Share Market 14 21
Life Insurance 16 18 Real
Estate(Property) 6 20
Gold/Silver 19 10

(O- (O- O E
O E O-E
E)2 E)2/E

20 17.01 2.99 8.95 0.5260 18 16

-
12 4
13.08 1.08 1.17 0.0898 3
2 0.16 1.84 3.39 21.3808 10 10
8 7.85 0.15 0.02 0.0029 2 1
-
0 18
0.87 0.87 0.76 0.8722 19
16 14.83 1.17 1.37 0.0926 1 0
-
0 3
0.44 0.44 0.19 0.4361 2
-
2 2
2.18 0.18 0.03 0.0150 1
-
0 21
0.87 0.87 0.76 0.8722 19
-
14 20
15.26 1.26 1.60 0.1047 14
-
6 10
11.34 5.34 28.51 2.5140 16
19
12.65 6.35 40.35 3.1906

Interpretation:

Calculated 𝜒2=36.9508

No of degrees of freedom=n-1=12-1=11
56
Tabulated value of  𝜒2 for 5 degree of freedom at 5% level=11.675

Result:

Calculated  2 > Tabulated  𝜒2

Hence, we accept the null hypothesis H0.

Conclusion:

There is no significant relationship between perception of investment avenues and Gender.

Graph:

Investment Avenues
25
20
15
10
Female
5 Male
0
t s s d d e es et et et rty) er
o un osit ritie un Bon ranc tur a rk a rk a rk e i lv
c p u F n p /S
Ac De Sec al ns
u
be ty M X M re M (Pro old
g d t u tu I De i E a e
vi
n xe n t fe od OR Sh stat G
Fi nme M Li
Sa k r m
m F i t y
l E
n u
Ba o ve Co Eq R ea
G

From graph we understand that Female investors mainly prefer Saving Account(20) and
Gold/Silver(19). Whereas, Male investors are prefer Saving account(19), Real Estate(20) and
Equity Share Capital(21).

57
 CHAPTER 6

FINDINGS & RECOMMENDATIONS

FINDINGS
58
 Finding1:
Out of 50 investors majority of investors are between 20-30 age group. Majority of
Female and Male investors are between 20-30age group.

 Finding 2:
Most of the respondents are students with a percentage of 56%.

 Finding 3:
43% of investors are below 2lakh income level which is highest among others and
31% of investors are between -3lakhs income level. Investors above 4lakh are less in
numbers.

 Finding 4:
Majority of investors saved 20-40% of their income. Very less investors are ready to
invest more than 50% of their income.

 Finding 5:
Most of the investors are invest with the objective of getting future expenses and
creating wealth.

 Finding 6:
Majority of investors are interested to invest their money in Saving account and Bank
fixed deposits. Female investors are interested to invest their money in Saving
account and Gold/Silver and Male investors are preferred Real estate, Equity share
market, Life insurance etc.

 Finding 7:
Most of investors are interested in Banking And Insurance Sector.

 Finding 8:

59
 Majority of respondents invest their money for Healthcare. 22% of investors investing
money for retirement planning.16% of investors invest money for education.14% of
investors invested for home purchase.

 Finding 9:
Most of investors are preferred Return and Safety of Principle.

 Finding 10:
Most of the investors like to invest their money for medium term i.e for 1-5 years.
They preferred Medium and long term for investment.

 Finding 11:
Very less amount of investors are ready for high risk.

 Finding 12:
Most of the investors monitoring their investment monthly. Investors their monitor
their investment daily are less in number.

 Finding 13:
46% of investors are partially satisfied with their investment. Very Few investors are
satisfied with their investment.

 Finding 14:
Both female and male investors are ready for moderate risk. Female investors are low
risk takers. Male investors are taking high risk than female investors. There is
significant relationship between Risk tolerance level of investor and Gender.

 Finding 15:
Female investors mainly prefer Saving Account and Gold/Silver. Whereas, Male
investors are prefer saving account, Real Estate and Equity Share Capital. There is no
significant relationship between perception of investment avenues and Gender.

60
 RECOMMENDATIONS
There are few recommendations for the study, this is as follows,
 Recommendation 1:
Some business people know the awareness about investment avenues but most of the
respondents they don’t have sufficient knowledge. There are various new investment
avenues available in the market. The awareness needs to be created among the
investors.

 Recommendation 2:
Investors needs to understand the market situation and invest accordingly.

 Recommendation 3:
Safety of Principle is the main concern of every investor but there are some
investment where risk are less and good return, investor should monitor that avenues
so that their money will appreciate and then can take the help from financial advisor
where their money will appreciate more.

 Recommendation 4:
The various investment tools which are mostly preferred by investors are bank
deposits, saving account etc. So there should be various other means to create
awareness regarding the potential of other instruments and tools which can be more
beneficial to the investors.

 Recommendation 5:
The preferred time span of investment depends upon the need of investor that whether
they wants to have early and high returns to have stable returns, most probably long
time period is suitable because the earnings are high and safety is too there.

 Recommendation 6:
Government should also educate the Indian population both on ways of meeting their
financial objectives through financial protection and wealth creation.

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CHAPTER 7
CONCLUSION

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 CONCLUSION

An investment is an asset or item acquired with the intention of producing revenue or

appreciation. Appreciation refers to an improvement over time in an asset's value. Investment
avenues are the various ways in which an individual may invest his capital. They are
sometimes referred to as investment alternatives, investment instruments or investment
schemes. Investment in any of the avenues depends on the needs and requirements of the
investor.

The study concludes that investments are made on various investment avenues with the
expectation of capital appreciativeness and short and long term earnings. The basic idea
behind investment of both Male and Female investors in this study is to utilize the surplus
money in favorable plans so that the money will be turned back as well as it will give high
returns also. At the point when common men considers investment he won't ever go for any
dangerous arrangement. In the present scenario the share and gold market is highly uncertain
and unpredictable, so the investor should analyze the market cautiously and then make
investment decision.

It can be concluded that the investors preferential choices on investment avenues are slightly
different across their gender and the decision making process on various investment avenues
are same on the investment aspects like saving account. The preferential choices across the
Gender of the investors is same towards the avenues like Banking Sector and Insurance
sectors and they differ in the aspects like stock markets, gold, Real estate. The present study
further concludes that the Level of Risk patterns are different according to Gender. Female
investors are not ready to take high risk whereas Male investors are ready for High Risk.
Finally, the study concludes that investments by the investors towards various investment
avenues were done with the expectation of capital and earnings comprising both Medium
term and long term periods. Most of the investors are partially satisfied with their investment
and very few are dis-satisfied. According to Chi-square test we conclude that there is a
relationship between Risk tolerance level and gender. Also, there is no relationship between
investors perception of choosing investment avenues and gender.

63
 REFERENCES

 Geetha, S. N., & Vimala, K. (2014). Perception of household individual investors

towards selected financial investment avenues (with reference to investors in Chennai
city). Procedia Economics and Finance, 11, 360-374.
 Anitha, M., & Bhargavi, D. P. (2014). Investors’ Perception Towards Investment.
Global Journal of Finance and Management, 6(2), 185-190.
 Bhavani, G., & Shetty, K. (2017). Impact of demographics and perceptions of
investors on investment avenues. Accounting and Finance Research, 6(2), 198-205.
 Pandey, N. S., & Kathavarayan, P. (2015). Investors' Perception towards
Alternativeness and Preferences. SCMS Journal of Indian Management, 12(3), 37.
 Muthumeenakshi, M. (2017). Perception of Investors towards the Investment Pattern
on Different Investment Avenues-A Review. The Journal of Internet Banking and
Commerce, 1-15.
 Geetha, N., & Ramesh, M. (2011). A study on people’s preferences in Investment
Behaviour. International Journal of Engineering and Management Research, 1(6),
285-306.
 Sunil ,Dhawan & Preety, Motiani (2021 Jan 15). Top 10 Investment Options. The
Economic Times.
https://economictimes.indiatimes.com/wealth/invest/top-10-investment-options/
articleshow/64066079.cms
 Kalpen, P. (2019, May 30).Only 33% Women take independent investment decisions
as compared to 64% men. Business Today.
https://www.businesstoday.in/current/economy-politics/only-33-percent-women-take-
independent-investment-decisions-as-compared-to-64-percent-men/story/352360.html
 Sunil , Dhawan (2019, June 17 ). Is investment behavior of women different from
men?. Financial Express
https://www.financialexpress.com/money/is-investment-behavior-of-women-
different-from-men-these-survey-findings-will-surprise-you/1609746/
 N. Kathirvel A. Mekala (2010),Women Investors Perception Towards OnlineTrading
In Tamilnadu ,TecniaJournal of Management Studies Vol. 5 No. 1.

64
 Durga rao , Prashant kumar & Sanjeet Kumar (2018),A conceptual review on
investment behavior of women,International journal of scientic development and
research Vol.3
 Milathy and saranya 2017 factors influncing investors in investing stock
market,Universal, A. J. A. X. International Research Journal of Engineering and
Technology (IRJET).
 Purushotham, C. V., & Amarnath, B. (2016). Individual Investor Decision Making-A
Review Study. ZENITH International Journal of Multidisciplinary Research, 6(3).
 Geetha, S. N., & Vimala, K. (2014). Perception of household individual investors
towards selected financial investment avenues (with reference to investors in Chennai
city). Procedia Economics and Finance, 11, 360-374.
 Anitha, M., & Bhargavi, D. P. (2014). Investors’ Perception Towards Investment.
Global Journal of Finance and Management, 6(2), 185-190.
 Bhavani, G., & Shetty, K. (2017). Impact of demographics and perceptions of
investors on investment avenues. Accounting and Finance Research, 6(2), 198-205.
 Pandey, N. S., & Kathavarayan, P. (2015). Investors' Perception towards
Alternativeness and Preferences. SCMS Journal of Indian Management, 12(3), 37.
 Muthumeenakshi, M. (2017). Perception of Investors towards the Investment Pattern
on Different Investment Avenues-A Review. The Journal of Internet Banking and
Commerce, 1-15.
 Geetha, N., & Ramesh, M. (2011). A study on people’s preferences in Investment
Behaviour. International Journal of Engineering and Management Research, 1(6),
285-306.
 Kumari, P. S., & Malekar, S. (2012). A study of Investor Behavior on investment
avenues in Mumbai Fenil. TRANS Asian Journal of Marketing & Management
Research (TAJMMR), 1(1), 49-70.
 Mittal, M., & Vyas, R. K. (2011). A study of psychological reasons for gender
differences in preferences for risk and investment decision making. IUP Journal of
Behavioral Finance, 8(3).
 Kathuria, L. M., & Singhania, K. (2012). Investment Decision Making: A Gender-
Based Study of Private Sector Bank Employees. IUP Journal of Behavioral Finance.

65
 QUESTIONNAIRE
1. Name:
2. Gender:
o Male
o Female
3. Age-group (in year)
o Below 20
o Between 20-30
o Between 30-40
o Above 40
4. Occupation (What category do you come under)
o Student
o Home maker
o Self Employed(Business/Profession)
o Employee
o Retired
5. Annual Income:
o <200000
o 2-4 lakh
o 4-6 lakh
o Above 6 lakh
6. Percentage of saving from your Total Income?
o Below 20%
o Between 20-40%
o Between 40-60%
o Above 60%
7. What is the purpose behind Investment?
o Wealth Creation
o Tax Saving
o Earn Return
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 o Future Expenses
8. What do you think are the best Investment avenue for investing your money?
o Saving Account
o Bank Fixed Deposits
o Government Securities
o Mtutual Fund
o Bond
o Life Insurance
o Debentures
o Commodity Market
o FOREX Market
o Equity Share Market
o Real Estate(Property)
o Gold/Silver
9. In which sector do you prefer to invest your money?
o Banking Sector
o Insurance Sector
o IT Sector
o FMCG Sector
o Other
10. Purpose of Investment:
o Education
o Home Purchase
o Healthcare
o Marriage
o Retirement Planning
o Other
11. Factor influencing the Investment decisions:
o Return
o Safety of principle
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 o Diversification
o Progressive value
o Maturity period
o Other
12. What is the time period you prefer to invest?
o Short-term
o Long-term
o Both
13. Tolerance of Risk is:
o High
o Moderate
o Low
14. Frequency of Investment?
o Daily
o Monthly
o Occasionally
15. Satisfaction level of your Investment:
o Satisfied
o Partially Satisfied
o Dis-satisfied

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PLAGIARISM SCAN REPORT

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INTRODUCTION The most significant financial feature in modern products is an effective
allocation of resources. It requires choices to commit the company funds to the long-term.
Capital budgeting decisions are of tremendous significance to the company because they help
to decide its value by affecting its growth, profitability and risk.A company's capital
budgeting decisions are usually referred to as the investment evaluation, or decisions on
capital expenditure. A decision on capital budgeting can be described as the company's
decisions to invest its current funds most effectively in long-term assets in order to predict an
anticipated flow of benefits over a series of years.
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INVESTMENT: After opening up the economy in the early 1990's, India saw higher
economic growth. Economic development has boosted individuals' income levels. A higher
amount of income means more capital available for investment. An investment is an asset or
item acquired with the intention of producing revenue or appreciation. Appreciation refers to
an improvement over time in an asset's value. If a person buys a good as an investment, the
aim is not to consume the good, but rather to use it to establish wealth in the future. An
investment is a method used, among other examples, to produce future profits, including
securities, bonds, real estate property, or a corporation. Investments are normally listed on a
different cash line and may appear as short-term or long-term assets depending on the form of
investment and the investment retention strategy of the management. For example, a financial
professional can now purchase a money-related resource with the possibility that the resource
will yield revenue later on or be sold for a profit at a more exorbitant cost later.
The objective of the act of investing is to generate revenue and increase value over time. An
investment can refer to any mechanism used for future revenue generation. Among other
examples, this includes the purchase of stocks, bonds or real estate property. Also, it can be
considered an investment to buy a property that can be used to produce products. There is a
certain amount of risk associated with an investment since investing is geared towards the
potential for profits or future growth. An investment may not generate any revenue at some
point, or may actually lose value over time. It's also a possibility, for instance, that you will
invest in a business that ends up going bankrupt or a project that fails to materialise. This is
the primary way in which saving can be distinguished from investment: saving accumulates
money for future use and does not involve any risk, whereas investment is the act of
leveraging money for future growth and involves some risk. INVESTORS PERCEPTION:
Perception is the process of arranging and interpreting sensory information to gain
consciousness or awareness of the world. INVESTMENT AVENUES: Investment scenario
as a banyan tree which, through the introduction of new investment avenues with unique
features to attract investors to the investment world, grows day by day. Investment avenues
are the various ways in which an individual may invest his capital. They are sometimes
referred to as investment alternatives, investment instruments or investment schemes.
Investment in any of the avenues depends on the needs and requirements of the investor.
Corporates and individuals have different needs. Before investing, these avenues of
investments need to be analyzed in terms of their risk, return, term, convenience, liquidity
70
etc. Most investors want to make investments in such a way that, without the risk of losing
principal money, they get sky high returns as soon as possible. This is why many are still
searching for top investment plans where they can double their money in a few months or
years with little to no risk.However, in an investment product, sadly, there is no high return,
low risk mix. In fact, risk and returns are closely linked, they go hand in hand. i.e., higher
returns, higher risk and vice- versa. Here is a look at Indians looking at the top 10 investment
avenues when saving for their financial objectives. 1. Direct Equity: As it is a risky asset
class and there is no guarantee of returns, investing in stocks can not be everyone's cup of tea.
In addition, it is not only difficult to select the right stock, it is also not easy to plan your
entry and exit. The only silver lining is that, relative to all other asset groups, equity has been
able to deliver better than inflationadjusted returns over long periods. 2. Mutual funds for
equity: Equity mutual fund schemes invest mainly in equity stocks. According to the current
Mutual Fund Regulations of the Securities and Exchange Board of India (Sebi), an equity
mutual fund scheme must invest at least 65% of its assets in equity and equity instruments. It
is possible to actively manage or passively manage an equity fund. 3. Mutual funds from
debt: For investors who want steady returns, debt mutual fund schemes are acceptable.
Compared to equity funds, they are less volatile and therefore considered less risky. Debt
mutual funds invest mainly in assets producing fixed interest, such as corporate bonds,
government securities, treasury bills, commercial paper and other instruments of the money
market. 4. National Scheme of Pensions (NPS): The National Pension Scheme is a long-term
pension-oriented investment product operated by the Regulatory and Growth Authority of the
Pension Fund (PFRDA). The minimum annual (April-March) contribution to remain active
for an NPS Tier-1 account was reduced from Rs 6,000 to Rs 1,000. 5. Fund for the Public
Provident (PPF): The Public Provident Fund is one commodity that many individuals turn to.
The effect of the compounding of tax-free interest is immense, particularly in later years, as
the PPF has a long tenure of 15 years. In addition, since the interest received and the principal
invested is backed by a sovereign guarantee, it is a secure investment. 6. Fixed Deposit Fund
(FD): A fixed deposit from a bank is considered a comparatively safer option for investing in
India.
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Solution for Investment in any of the alternatives depends on the needs and requirements of
the investor. What are those avenues (alternatives)?
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https://www.bartleby.com/questions-and-answers/investment-in-any-of-the-alternatives-
depends-on-the-needs-and-requirements-of-theinvestor.-what-ar/ed079429-dbe3-4591-8c2d-
dd822304ffe1
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For example, it's also a possibility that you will invest in a company that ends up going
bankrupt or a project that fails to materialize. [8]
Buffett has advised in ...

http://www.robertspottswood.org/blog/archive.php?593e8a=investment-%28i%29-includes
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