Kerala lottery department organises financial training program for lottery winners

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Kerala’s state lottery agency made a ground-breaking decision by implementing a training program for its prize winners that address concerns relating to the inappropriate use of prize money.

First-prize winners of Kerala lotteries attended the function, which was launched by finance minister KN Balagopal on Wednesday in Thiruvananthapuram, to gain knowledge on how they can invest their winnings without wasting it, according to mathrubhumi.

The Gulati Institute of Finance and Taxes devised a first-of-its-kind training curriculum that includes a variety of subjects, including financial management, taxation, investment choices including chit funds and insurance, and psychological stress reduction for the lottery winners.

Around 80 individuals who have previously won first prize in the 2022 Onam Bumper lottery took part in the initial stage of the training program. The purpose of the training is to provide the prize winners with the information and abilities they need to efficiently manage their newfound income and steer clear of frequent risks related to incorrect management of prize money.

As reported previously, the program is basically to create awareness and is aimed at reducing the frequent news of people wasting all of their winnings and helping them make proper decisions and secure investments.

Many people were in support of this program, including Anoop, who won the largest prize of Rs 25 crore ever awarded on a single ticket in the nation. Anoop is currently running his own lottery shop.

There are also many fake lottery apps on Google Play Store. According to cybersecurity researchers, ‘CloudSEK researcher,’ The firm discovered that these fake lottery applications were posing as legitimate operators using the logos of the Directorate of Kerala State Lotteries. People are advised to be aware and not use any lottery app by the firm.