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By:

Akhilesh Sinha

25 June 2025 at 2:53:54 pm

From legacy to leadership

Samrat Choudhary's ascent reflects legacy, caste dynamics, and political shifts Patna:  The rise of Samrat Choudhary in Bihar's political landscape is not merely the story of an individual's success, but a reflection of a long political tradition, evolving social equations, and shifting power dynamics over time. Following his election as the leader of the Bharatiya Janata Party's legislative wing, his elevation to the chief minister's office appears almost certain, which is marking a decisive...

From legacy to leadership

Samrat Choudhary's ascent reflects legacy, caste dynamics, and political shifts Patna:  The rise of Samrat Choudhary in Bihar's political landscape is not merely the story of an individual's success, but a reflection of a long political tradition, evolving social equations, and shifting power dynamics over time. Following his election as the leader of the Bharatiya Janata Party's legislative wing, his elevation to the chief minister's office appears almost certain, which is marking a decisive milestone in a political journey spanning more than three and half decades. Over the years, his political journey traversed multiple parties, including the Congress, Samata Party, Rashtriya Janata Dal, Janata Dal (United), and Hindustani Awam Morcha. His name did surface in a high-profile criminal case in 1995, though he was later acquitted due to lack of evidence. Samrat Choudhary's mother Parvati Devi was also politically active and was elected as an MLA from Tarapur in a 1998 by-election. Among his siblings, Rohit Choudhary is associated with the JD(U) and is active in the education sector, while Dharmendra Choudhary is engaged in social work. His wife, Mamta Kumari, has also been actively involved during election campaigns. The family includes a son Pranay and a daughter Charu Priya. Choudhary entered active politics in 1990, beginning his career with the RJD. In 1999, he became Agriculture Minister in the Rabri Devi government, though his appointment was mired in controversy over his age, eventually forcing him to step down. He later parted ways with the RJD, moved to the JD(U), and ultimately joined the BJP. Since 2018, his stature within the BJP has steadily grown, culminating in his appointment as the party's Bihar state president in 2022. Controversy Man With the beginning of his new innings in the BJP, Choudhary once again found himself in the spotlight, this time over questions surrounding his educational qualifications. Allegations regarding the validity of the degree mentioned in his election affidavit became part of political discourse. The opposition, particularly Prashant Kishor, raised the issue forcefully during the elections. However, the controversy failed to gain substantive traction and remained confined to political rhetoric, with no significant impact on electoral outcomes. Hailing from the Tarapur region of Munger district, Choudhary's identity is deeply rooted in this region. Historically influential, the region has provided a strong social and political base for both him and his family. Belonging to the Kushwaha (Koeri) community, he represents a crucial social base in Bihar's caste equations. This makes his role significant in the 'Lav-Kush' (Kurmi-Koeri) political dynamic that has shaped the state's politics for decades. Sharp Turns Choudhary's political journey has been marked by sharp turns and contradictions. At one stage, he was among the fiercest critics of Nitish Kumar, even declaring that he would not remove his traditional 'Muraitha' (a kind of turban) until Kumar was unseated from power. Yet, as political equations shifted, Choudhary not only consolidated his position within the BJP but also emerged as a key figure in power-sharing arrangements with Nitish Kumar. After 2020, when Sushil Kumar Modi was moved to national politics, new opportunities opened up for Choudhary. He became a member of the Legislative Council, later served as Leader of the Opposition, and eventually rose to become state president. His political stature further expanded when, following Nitish Kumar's return to the NDA, Choudhary was entrusted with the dual roles of Deputy Chief Minister and Home Minister, which is an unprecedented move in Bihar's political framework. Despite his rise, controversies have not been entirely absent from his career. Questions regarding his age and educational qualifications surfaced intermittently, though their long-term political impact remained limited. Today, Samrat Choudhary stands at the center of Bihar's political stage. His ascent is not merely the result of personal ambition but the outcome of a deep political legacy, an understanding of social dynamics, and strong organisational acumen. The real test now lies in how he transforms this legacy into effective governance and development. Strengthening law and order and meeting public expectations will be crucial. The people of Bihar are watching closely, and only time will determine how successfully he rises to the occasion.

F&O Trading in India: Big Opportunities, Bigger Risks

In trading, survival matters more than chasing quick profits.

Over the past few years, Futures and Options (F&O) trading has become extremely popular in India. What was once a segment dominated by professionals and institutions is now crowded with retail traders, many of whom enter the market with the hope of making quick money.


With easy-to-use trading apps, low brokerage charges, and constant exposure to market content online, more individuals are stepping into derivatives trading than ever before. But behind this growing popularity lies a reality that many don’t fully understand—F&O trading is not as easy or as profitable as it appears.

India’s derivatives market, led by the National Stock Exchange (NSE), has emerged as one of the largest in the world by trading volume, with daily activity in the futures and options (F&O) segment often far outstripping the cash market. For many first-time traders, the appeal is obvious: it allows participation with relatively small amounts of capital, offers the possibility of quick profits, and creates the thrill of a fast-moving, high-intensity market. But that very ease of entry is also what makes the segment especially risky, as many newcomers underestimate how quickly losses can mount.


Hidden Risks

The reality is simple: most retail traders lose money in the derivatives market. SEBI data has repeatedly shown that around 85% to 90% of individual traders in the F&O segment end up in losses, while only a small minority stay consistently profitable. This is not because they do not try, but because derivatives trading is difficult. Markets are unpredictable, leverage can magnify losses quickly, and many new traders enter without fully understanding the risks. Put simply, F&O trading is not a shortcut to wealth but a high-risk activity that demands knowledge, discipline, and patience.


F&O trading allows investors to use leverage, letting them take large positions with limited capital. While this can boost profits, it can also magnify losses. A small favourable move may bring quick gains, but a small adverse move can cause heavy losses. Traders also face risks such as time decay in options, daily MTM margin adjustments in futures, and sudden volatility that can wipe out capital within minutes. The reward is visible, but the risk is often underestimated.


To protect retail investors, SEBI has introduced safeguards to curb excessive risk in the derivatives market. These include stricter margin rules, mandatory risk disclosures, action against misleading financial content, and crackdowns on unregistered advisors. While these measures offer some protection, they cannot replace personal responsibility. In the end, every trade is an individual decision, and so are its risks and consequences.


One of the biggest influences on new traders today is social media, which is full of profit screenshots, “sure-shot” strategies, and claims of easy daily income. What is rarely shown are the losses, failed trades, emotional stress, and real risks. This creates a misleading picture of F&O trading. Blindly following tips or copying trades without understanding them can be dangerous. In the market, knowledge, discipline, and risk awareness matter far more than imitation.


One of the most important rules in F&O trading is simple: never trade with borrowed money. Using personal loans, credit cards, or money borrowed from friends or family is extremely risky. If the trade goes wrong, you not only lose your capital but still have to repay the debt, often with interest, while dealing with severe financial and emotional stress. A simple rule to remember: only trade with money you can truly afford to lose.


Trade With Caution

If you still want to explore F&O trading, do so with caution and discipline. Start small so that early mistakes do not become costly. Focus on learning before earning, use a stop-loss in every trade, and do not become overconfident after a few profits. F&O trading is not inherently bad—it is a powerful financial tool. But in the wrong hands, it can cause serious losses. In today’s fast-moving market, it is easy to get influenced and jump in. Yet lasting success comes not from shortcuts but from patience, discipline, and informed decisions. In trading, survival matters more than quick profits. Options trading, in particular, can become a trap—highly addictive and often difficult to walk away from once losses and emotions take over.  


(The writer is a Chartered Accountant based in Thane. Views personal.)

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