The Hindu Business Line : Geojit to launch women-only branches

TO facilitate greater participation and investment by women in capital markets, Geojit Financial Services Ltd will soon be opening women-only branches at Kochi, Mumbai and Chennai.

Addressing a press conference here, Mr C. J. George, Managing Director of Geojit Financial Services, said that women are prudent, though limited investors in the Indian stock markets. A survey conducted by Merrill Lynch in the US has revealed that women seldom hold on to a losing investment, while men wait too long to sell a rising investment, he said.

To begin with, Geojit expects only small-ticket size investments from women, which over a period will grow and turn out to be big-time investments. The facilities for conducting even these small investments and clearing the fundamental doubts of women are inadequate today, given the large crowds at the trading terminals, Mr George said.

The time is also considered appropriate for launching women-only branches, since more women have become earning members of families and have greater purchasing power, which they want to deploy away from the conventional bank deposits.

The first such branch will be inaugurated by Ms Deena Mehta, former President of the Bombay Stock Exchange Ltd at Kochi on Saturday. A team of five technically qualified women will manage the branch. The branch inauguration will be followed by a seminar on `The role of women in financial planning.'

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