Before the app and SIP era investment was a lot more complex than what it is today. The reason being lack in the transparency of services and huge commissions by the commission agents, the ones who helped us in the management of our investments. It was a fun time as we paid other people to manage our own money.
Financial literacy was at its lowest during those times, the majority of our population did not know anything about investments and growing your money.
In fact, according to the majority of my relatives, nothing was better than Fixed Deposits, although the interest rates were a tad bit better than what they are today.
Mutual funds and the stock market were taboo for an average Indian family, some people termed them as gambling too which makes me laugh now when I think about it being a regular stock market trader and Investor.
Investment is a common person weapon to multiply the money and even fight inflation, Fixed deposits, and recurring deposits cannot in any way help in fighting inflation. On the other hand, only Mutual funds and stock market investments are the tools required to fight inflation, I agree that recurring deposits and Fixed deposits can guarantee fixed returns but, an almost guaranteed return from Mutual funds and Stock Investments, just demands a bit of research and knowing what you are investing in.
Nobody has got rich by investing in fixed deposits and other guaranteed income sources but, you need to take the risk to exponentially multiply your returns also you need to learn the power of compounding.
You cannot just withdraw your returns from the investments that you did every few months, there is much liquid investment option which gives you the flexibility of liquidity in their funds but, if you want to see the power of compounding then all you need is to reinvest every most of your returns on your capital invested. Compounding cannot be explained in a few sentences but, I will definitely post a whole article addressing this.
The scenario has changed drastically in these 30 years of revolution in technology and financial technology from the evolution of digital currency to specific apps being developed just to meet people’s investment needs is refreshing to see.
Today we will talk about one such person who is one of the pioneers who addressed the problem and solved it so well by using the Application platform making investment and trading easy and simple.
Let us dive deep into the story of Mr. Lalit Keshre, one of the Co-Founder and CEO of Groww app that changed the scenario of mutual fund investments and Stock market trading in a way which is not only simple but accessible to everyone.
Introduction of CEO of Groww App
Lalit Keshre is an engineer turned entrepreneur also famously known for his revolutionary app Groww which made investments and mutual fund buying through its app like shopping any other e-commerce platform.
Lalit went to IIT, Bombay for his formal education earning a degree in Electrical engineering and Microelectronics.
He started his career in 2004 with a role in Ittiam Systems in the field of Product and engineering, Ittiam Systems is a company situated in Bangalore which helps market leaders and companies to developed next-generation video solutions in the broadcast media field by using intelligent technologies.
Soon, he developed a taste for entrepreneurship and laid the foundation of Eduflix, an interactive education platform in the year 2011.
Moving on to the role of Head Product manager in the famous e-commerce website company Flipkart where he founded Flipkart quick, a solution for fast and efficient local deliveries.
In the year 2016, Lalit Keshre along with 3 other co-founders laid the foundation for Groww, initially a Mutual fund investment platform with the motto of making mutual fund investments simple and easy for the customers with zero commissions in between and focusing mainly on transparency.
The former Flipkart guy had the vision to make mutual fund buying as simple as buying your favorite shoes on any e-commerce platform. They concentrated on the user interface and end-to-end user experience to gain the user base.
According to reports, the Groww app is growing at an exponential rate since its launch with the user base increasing by 30% every month.
In the year 2020, they also introduced the trading feature in the Stock market where the user can invest in mutual funds and stock market but also trade their favorite derivative instruments like futures and options, commodities, ETFs, and digital gold all in one single app making it a direct competitor of the long-established Zerodha.
You can also check out our full review on Groww which will include all the details from the charges to the user interface and what you can expect from the app and also our personal rating.
Conclusion
By every passing day, you can see for yourself that new apps and newer developments are coming through in the financial technology field making the life of an investor easier and the system transparent, gone are the days in which people considered the stock market and equity funds a gamble.
Safe investing!
This is not at all any kind of investment advice and should not be treated as one. Do your due diligence before investing and always contact your financial advisor for better insights.
