Stay away from investing in cryptocurrencies- Dr Karad

Release of the book ‘Paisa Bolta Hai’ penned by Harshal Edaskar

Aurangabad, May 21:

Cryptocurrency has not been approved by the Government of India, so investors should not make any investment in unauthorized cryptocurrencies. The government is introducing digital currency. Also, 75 digital banks will be launched in the country that will make banking more transparent and corruption free, said the union minister of State for finance Dr Bhagwat Karad.

He was speaking at the release ceremony of the book 'Paisa Bolta Hai', penned by certified financial planner Harshal Edaskar on Saturday. Dr Karad said that it is necessary to plan properly when it comes to money. There is money but if there is no planning, the financial condition breaks down. Citing the example of many entrepreneurs, he said entrepreneurs who had financial planning survived during the corona period and those who ignoured financial planning collapsed. Edaskar said that many people are highly educated but do not have financial literacy. This leads to the collapse of the financial condition. People cannot distinguish between needs and requirements and spend money, without knowing that they are deteriorating their financial condition. MLA Atul Save, Ashish Gattani and others were present.

Need for CFP in the country

Dr Karad said the country needs Certified Financial Planners (CFPs) to increase the level of financial literacy in the country. With a population of 130 crore, there are only 5,000 CFPs in the country. He invited the CFP to come to Delhi to discuss the issue.