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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Charity Contested

Oct 28, 2025
2 min read

When commerce collides with faith, it often leaves behind a trail of acrimony. Nothing illustrates this more clearly than the storm over the 3.5-acre plot in Pune’s Model Colony, a property belonging to the Seth Hirachand Nemchand Smarak Trust. What began as a Rs 311 crore redevelopment deal between the trust and Gokhale Landmarks LLP, a local construction firm, has now unravelled under the weight of religious sensitivities, political intrigue and public suspicion. On Sunday, the developer formally withdrew from the agreement, asking for the return of the Rs 230 crore it had already paid.


The trust’s land, housing a Jain hostel and the Shri Bhagwan Mahavir Digambar Jain Temple, is no ordinary real estate. It embodies the legacy of community philanthropy dating back to 1958, when the trust was established to serve students and pilgrims. Yet, like many urban charities sitting on valuable plots in India’s booming cities, it found itself tempted by the promise of redevelopment, which ostensibly designed to fund modern facilities but interpreted by critics as a sell-out.


Gokhale Landmarks insists it did everything by the book, securing the charity commissioner’s approval and following procedural norms. But compliance did not protect it from outrage.


The moral dimension is precisely what complicates the matter. Charitable land carries obligations beyond legal paperwork as it is held in trust for the public good. To many Jains, selling it to a developer, however well-intentioned, amounted to desecrating a sacred site. Their agitation grew after reports surfaced linking Union Minister Murlidhar Mohol to the deal. Though Mohol claims he exited the firm before any transaction occurred, the perception of impropriety stuck. Shiv Sena leader Ravindra Dhangekar, seized the issue to accuse his own ally - the BJP - of meddling in charitable affairs for private gain.


The controversy has since tested the uneasy camaraderie within Maharashtra’s ruling Mahayuti alliance. Deputy Chief Minister Eknath Shinde had to step in, warning Dhangekar against public sniping that could hand ammunition to the Opposition. Shinde’s intervention underscored how fragile coalition etiquette becomes when religion and property intersect.


The Charity Commissioner of Mumbai has ordered a status quo on the deal and will decide whether Gokhale Landmarks will recover its payment. But the broader question is how should India govern the redevelopment of charitable and religious properties sitting atop valuable urban land? Cases like this are hardly rare. From church lands in Kerala to temple properties in Tamil Nadu, trusts find themselves caught between their founding missions and the lure - or necessity - of monetising real estate.


Urban expansion has turned pious holdings into prime assets, inviting scrutiny and scandal in equal measure. The state’s regulatory apparatus, often opaque and politicised, is ill-equipped to navigate the delicate balance between preserving heritage and enabling growth. The Jain hostel affair, with its mix of religious sentiment, bureaucratic oversight and political theatre, is only the latest reminder of that dysfunction.

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