The Indian Society of Technical Education (ISTE) faculty chapter of Guru Nanak Institute of Management and Technology (GNIMT), Gujarkhan Campus, Model Town, organised a seminar-cum-faculty development programme on its campus on Thursday.
Harpreet Soin, vice-president, HSBC Bank, was the resource person, and Kiranjot Kaur, head, management development centre, coordinated the programme.
Soin introduced the subject and emphasised its importance for individuals of all ages and professions. She started the seminar by giving a small exercises to the audience in which the questions regarding saving habits and financial planning were given and the result showed that most of the audience had not really started personal financial planning.
The resource person said Warren Buffet, who was the second richest man in the world, had started his financial planning at the age of 11 and today he felt that he started late.
She also apprised the audience of the thrifty habits of Buffet and his advice to people to buy only those things that were needed and that you could afford without using the loan or credit cards. He himself was living the frugal life not showing his wealth nor wasting it on unnecessary luxuries. At the same time could donate $32 billion to charity all over the world.
She advised that one should not put all eggs in one basket and should invest the money proportionately in equity, debts, real estate, gold and must have a reasonably good insurance for the bread winners of the family.
She emphasised that the percentage of savings by various categories of investors would keep on changing as per the age or earnings of the individual. The seminar being interactive was extremely useful and helpful for all persons, who started putting on thinking caps for future saving and investment.
Institute director Col HS Singha (retd) was also present.
Seminar on banking held
A seminar on banking was organised to explore banking loan options and discuss infrastructural banking at Shifaly International School, Rahon Road, here on Thursday.
Ramnik Nayyar, branch head of Axis Bank, Ferozpur road branch, explained the working of a bank and its limitations to students.
He also discussed about study loan and other loans. Ramnik encouraged students to have a career in the banking sector. School director Vishal Jain and Sukhwinder Kaur and Ravinder Singh from the faculty of commerce thanked the bank authorities for arranging the session.