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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.)

Corporate Rot

Apr 10
2 min read

The recent infamy in a prominent multinational IT company in Nashik city where six senior employees were arrested by the police on charges of sexual exploitation and religious conversion of junior-level female employees is not merely shocking but a corrosive portrait of institutional decay.


The company in question, like many of its peers, possessed the full paraphernalia of modern governance including codes of conduct, internal committees and escalation matrices. Yet when employees reportedly raised concerns, the system appears to have stalled. The custodians of workplace safety chose inertia over stern intervention. Where there can be no ambiguity, however, is the failure of the institution. Reports suggest that concerns were raised internally before the matter reached the police. If so, the company’s human-resources machinery completely abdicated its fundamental duties. In environments where complaints are normalised as ‘routine’ and escalations quietly buried, predators only get emboldened.


Corporate human-resources departments often present themselves as neutral arbiters, balancing employee welfare with organisational interests. In practice, they too often function as risk managers for the firm, not protectors of the vulnerable. Silence becomes the policy in such cases.


What sharpens the outrage in the Nashik case are the allegations that coercion did not stop at the physical but extended into the realm of belief. If the charges hold, then a set of employees have systematically exploited trust by luring junior colleagues with promises, manipulating emotional dependence and then exerting pressure that trespassed into matters of faith. This is a grotesque abuse of intimacy for ideological ends and demands the harshest punishment if proven.


While the courts will determine individual guilt in this case, what cannot be ignored, however, is the brazenness with which such acts were allegedly carried out over time. Such confidence rarely emerges in a vacuum. It grows where institutions signal that its boundaries are negotiable. Which returns the spotlight, uncomfortably, to the HR department. Why were repeated complaints not escalated? Why were early warning signs not acted upon? Was this mere incompetence, or something more insidious - a misplaced corporate instinct to avoid ‘sensitivity’ to tiptoe around difficult issues in the name of a hollow liberalism that confuses inaction with tolerance? A workplace is not a debating society. It is a governed space. When governance yields to squeamishness, the vulnerable pay the price.


The Nashik episode exposes a deeper malaise in corporate India: the fetish for appearing progressive while failing to act when it matters.


The result is that misconduct festers in grim environs. Victims hesitate to come forward. And by the time the state intervenes with arrests, FIRs and public outrage, the rot has already spread. The Nashik IT scandal is not only that individuals allegedly behaved with predatory intent. It is that an organisation allowed the conditions for such behaviour to endure. In the end, corporate rot is not sudden. It is cultivated quietly, persistently and above all, conveniently ignored.

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