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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.)

From Banking to Flying

Sep 25, 2025
3 min read

The nine days of Navratri celebrate goddesses who embody strength in different forms; valour, compassion, creativity, austerity, devotion, justice, protection, forgiveness and wisdom. In our annual Navratri series, we celebrate the lives of nine women who strive to build happy and safe spaces for themselves and those around them.


Part - 5


Name: Captain Saudamini Deshmukh | Where: Mumbai, Maharashtra
Name: Captain Saudamini Deshmukh | Where: Mumbai, Maharashtra

Some women have fancy ambitions from a very young age, and they meticulously chase them, while a few just start with a very unplanned and stereo-typical career, but life ends up having something unique in store for them. They are destined to leave a legacy and one such name is Captain Saudamini Deshmukh who has made a significant mark in India’s aviation history. Saudamini began her professional life not as a pilot, but working with the Bank of India from 1973 to 1979. In 1980, she joined Indian Airlines which later merged to become part of what is today Air India or its successors, embarking on a flying career made her name popular among all Indian homes, especially women she silently kept inspiring through her major milestones. She became the first woman to command a Boeing 737 and later, in 1994, achieved the milestone of becoming the first Indian woman to lead an A320.


She has several feathers in her cap. Her first major milestone was in 1985, when she became the first woman check pilot on the Fokker 27 type aircraft in India. Soon in the same year, she also commanded India’s first all women crew flight on the Fokker F 27 between Kolkata and Silchar. Later in 1988 89, she made the country proud by becoming the first Indian woman captain to command a Boeing 737. In addition to this, later she also commanded an Airbus A320, again marking a first for women in India.


Her contribution to the aviation sector was not limited to being just a pilot but she also showed her excellence in some leadership roles. Saudamini also discharged her duties of Deputy General Manager, Operations in Indian Airlines, a managerial operational post, reflecting her rising stature.


Saudamini broke gender norms in an era when aviation, especially in India, was overwhelmingly male dominated, her command of aircraft and all-women crews sent a powerful message about gender equality in highly technical, high-stakes professions. Speaking to ‘The Perfect Voice’, Captain Ankita Dhanawade, 35, who is with Indigo Airlines said, “When I decided to become a pilot 20 years ago, I searched for women pilots in India in Google search bar. Capt Saudamini Deshmukh’s name was the first one to pop up on the search feed. We tend to follow the path that our family members show us. What about Women wanting to step out and create a new identity? Who do they look upto? I had Captain Saudamini Deshmukh.”


“Thanks to her trailblazing work and milestones I was convinced that my dream was achievable. Not just that, her journey also enlightened us on how we could chase our dream. If she could do it against all odds, I could at least try! In an age with no social media and relevant exposure, her work spoke louder than thunder and she paved the way for young women like me to fulfil a dream of becoming a pilot”, added Dhanawade.


After around thirty years of flying, Saudamini retired from active piloting in 2010, leaving behind a legacy that many Indian women take inspiration from to chase a dream that was once too rare and experimental for a woman to opt for.

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