A STUDY ON UNREGULATED collecting responses through questionnaire

DEPOSIT SCHEMES IN from the people of locality Mylapore,

JEWELLERY SHOPS Mandaveli, Alwarpet, Tenampet. The
responses have been obtained from 100
people. The collected data has been analysed
ABSTRACT:
by using SPSS software.
Indians traditionally consider gold as
Keywords: gold, investment,
an worthwhile investment in their lifetime.
jewellery shops
They preserve the gold from initial stages to
seek their future needs. Two years ago in an INTRODUCTION:
survey conducted by world gold
There are 25838 Gold jewellery
council[WGC] it states that approximately
shops and 2272 Silver Shops in India
25000 tones are owned by households in
which are registered under the BIS, also
India.. Many of the jewelry shops use this
there are numerous shops which are not
opportunity to loot money from the public,
registered under any of the regulations of
targeting the middle class families. The
Indian government. The number of shops
investors majorly prescribe or only able to
has increased day by day because of the
invest in the schemes of small shops where
people who have been investing
it is more risky. Investment schemes which
continuously in these type of investments.
are prescribed by the big shops are not
As the economy has developed the
affordable or not at much attractable. If there
fraudulent activities carried on by the
is an default by the shop in repayment or
people of the country has been increased
return of their savings, then investors can
rapidly.
only seek the court and can file an suit on it.
To avoid these type of scams, situations,
problems the government generally
OBJECTIVE:
prescribes not to invest in these type of
investment schemes. For instance the central To influence the investor about the risk in
government have taken an step to ban the investment of unregulated saving
savings in jewelry shops in the late February schemes(jewelries)
of 2019. This study has been conducted by To determine the frequencies at which

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persons making savings in unregulated
jewelries
To Evaluate the remedies of victims of
unregulated investment(jewelries)
To determine the measures taken by the
government to regulate the saving
schemes(jewelries)
Research Methodology:
Data Collection:
Primary data has been
collected through questionnaire. The
questionnaire has been circulated through
Google forms.
Area of study:
The present study has been
conducted to the respondents residing and
located in the locality of Mylapore,
Mandaveli, Tenampet, Alwarpet.
Sample Design:
100 recipient’s responses
have been collected by convenience
sampling.
Tools used:
The data collected has been
analysed by using SPSS Software.
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Hypothesis:
Whether savings in jewellery
shops should be regulated
Advice to others about the
savings in jewellery shops
REVIEW OF LITERATURE:
Rncos (2006) in his study entitled
“Indian Customers Showing Interest in
Branded Jewellery “found that the people
in India is having an tremendous interest
in gold. And they found that Gold is
having an growth of 14% annually during
2009-2012 compounded. Also it does not
require any labour efficiency for future
growth.
Alok Kala (2010) in his study
“Diamond World” stated that Jaipur offers
great potential in the gem and jewellery
industry. These gems and jewellery are in
great demand in India and worldwide.
Jaipur exports a good collection of gold,
platinum and studded jewellery. The
author stated in Sitapur alone accounts for
an turnover of Rs.450 crore, in which it
includes an export of Rs.300 crore.
Shah Vipul (2012) in his study
entitled “Change in Leadership of Gem
and jewellery” stated that modern
jewellery is coming in trend of the late
2010’s and the makers of the modern
jewellery’s have played the market.
People not only started to purchase the
modern jewellers also they chooses the
branded jewelleries. Contrary to the
development of the modern jewelleries the
Traditional jewellers also began to make
the light weight jewelleries. However, the
share of branded jewellery within the total
jewellery market remains small (about Rs.
10 billion of the Rs. 400 billion once a
year jewellery market in 2002), though
growing at a pace of 20 to 30 percent
OBJECTIVE:1
annually.
Rupa R (2016) in her study
“Consumer’s Preference Towards Gold as
an Investment” states that Though there
are various investment options available
to the investors namely securities, bank
deposits, commodity exchange and mutual
funds. Investors are now looking beyond
gold as merely a commodity for
consumption and are realizing its worth as
an investment avenue too. Investments in
gold have yielded consistent and
guaranteed returns, especially in volatile
times.

ANOVA
Sum of df Mean F Sig.
Squares Square
Factor for choosing Between 41.351 40 1.034 .834 .727
this investment Groups
oppurtunity{Rate Within 75.639 61 1.240
fluctuations} Groups
Total 116.990 101
Factor for choosing Between 55.310 40 1.383 1.037 .443
this investment Groups
oppurtunity{Return Within 81.367 61 1.334
s} Groups
Total 136.676 101

Interpretation:

Anova test shows us that there is no significant relationship between the rate
fluctuations and the returns.
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OBJECTIVE:2
Frequency Table

Age
Frequency Percent Valid Percent Cumulative
Percent
Valid 18-25 27 26.5 26.5 26.5
26-32 29 28.4 28.4 54.9
33-40 25 24.5 24.5 79.4
Above40 21 20.6 20.6 100.0
Total 102 100.0 100.0

In the above table it is clear that the respondents in the age of 26-32 is having the more
amount of investing.

INTREPRETATION: maximum number of investors is investing

In the above observations we come Rs.5000 with an percent of 21
to know that the average amount and the

OBJECTIVE:3

Item-Total Statistics
Scale Mean if Scale Corrected Cronbach's
Item Deleted Variance if Item-Total Alpha if Item
Item Deleted Correlation Deleted

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 Perception on Ordinance 11.18 9.563 -.111 .584
by Central government
Satisfaction in savings in 10.97 7.686 .337 .330
Jewellery shops
Safety of investment in 11.25 7.745 .310 .342
Jewellery Shops
Factor for choosing this 11.63 6.700 .333 .307
investment
oppurtunity{Returns}
Factor for choosing this 11.07 8.187 .119 .448
investment
oppurtunity{Rate
fluctuations}
Factor for choosing this 11.00 6.970 .423 .267
investment
oppurtunity{Flexibility}

CORRELATIONS
Any Past losses Ban on Jewellery
from Savings shop savings

Any Past losses from Savings Pearson Correlation 1 -.135

Sig. (2-tailed) .175

Sum of Squares and Cross-

15.461 -2.637
products

Covariance .153 -.026

N 102 102
Ban on Jewellery shop savings Pearson Correlation -.135 1
Sig. (2-tailed) .175

Sum of Squares and Cross-

-2.637 24.520
products

Covariance -.026 .243

N 102 102

Where the people getting the losses

INTREPRETATION:
doesn’t know about the ban about jewellery
No Correlation between Ban on
shops and it shows an negative correlation.
jewellery shop and Losses from savings in
jewellery - Negative correlation.

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FINDINGS:
The data were analyzed using
statistical tests that have been described
earlier and the results drawn based on these
tests are given below:
20 percent of the findings in the
categories male and female have an average
saving of Rs.5000
Respondents belonging to the age of
26-32 have the higher frequency of investing
in the jewellery shop saving schemes.
Respondents who are female and
who are in the status of household holds the
most number of years of investment.
SUGGESSTIONS:
It is suggested for investors to
purchase gold jewellery with the known
jewellery makers or the standard retail
outlets where making charges are
comparatively lower.
It is suggestible to the investors to
make investment in jewellery shop savings
schemes in such a way that loss from that
investment wont affect the livelihood of the
investor.
It is suggestible to the investor that
they get an invoice or any authentication
about their instalments which they have
been paying.
CONCLUSIONS:
In the current market scenario of
high volatile, rapidly changing market place,
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various avenues for investment in gold are
creating the confusion among Investors. As
per various studies 16,000 tons of gold is
there in Indian households predominantly in
the form of jewellery. There are various
alternatives available for investment in gold
through options like jewellery, coins,
bullions, ETF, mutual funds, E-gold etc. For
the purpose of the study primary data has
been collected from questionnaire. Based on
the research it is found that the investors
making investment in the gold are being less
and they doesn’t have any fear on the
investment they have made so far.
REFERENCES:
https://www.alukkas.co.in/about-
schemes
https://www.livemint.com/money/pe
rsonal-finance/jewellery-deposit-schemes-
are-more-glitter-than-gold-
11573571553015.html
https://m.timesofindia.com/city/chen
nai/chennai-hundreds-fall-victim-to-rs-300-
crore-loan-scam/articleshow/69209608.cms
https://m.economictimes.com/
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