Just like oxygen, you can’t borrow someone else’s money: Kotak AMC’s Lakshmi Iyer

According to a recent report by The Economist, only 7% of working-age urban women in India have paid a job. The International Labour Organization compared the number of working women in India with China and found in India only one in five women were working whereas in China this number was 3 out of 5.

In an exclusive conversation with Money9 on International Women’s Day, Kotak AMC’s Chief Information Officer Lakshmi Iyer explains how the right investment can fulfill your long-term and short-term dreams.

Iyer has been associated with the finance industry for 21 years and feels that the industry has changed. She sees a growing number of women around her and believes that there is a need to increase it further. It has to be a two-pronged strategy—workplaces will have to reimagine hiring in a manner where women participation should increase at all levels and second, family support also plays a crucial role.

Iyer believes that most women make better decisions in terms of money. But this can happen only if they start managing their money. “Women must plan for their future. If you are unable to breathe, then you cannot borrow oxygen from anyone else, the same way, it is important to have your own strategy for money as well. Treat money as the oxygen which you may need at any time and just as you can’t borrow your husbands oxygen in a distress situation you cant borrow his money as well. Women must save and invest for themselves,” Iyer said.

Watch the entire conversation in this video