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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.)

Grave Crisis

Mar 18, 2025
2 min read

Updated: Mar 20, 2025

The violence in Nagpur over Aurangzeb’s tomb is an alarming sign of Maharashtra’s deteriorating law and order. A protest by right-wing groups seeking the removal of the Mughal emperor’s tomb descended into chaos, triggering communal riots that left dozens of police officers injured, vehicles torched and entire neighbourhoods in fear. That a mere rumour of desecration of a holy book could inflame passions to such an extent raises grave concerns about the state’s ability to contain mob violence. CM Devendra Fadnavis must take decisive action to restore public order before Maharashtra slides into anarchy.


A demonstration by Vishwa Hindu Parishad and Bajrang Dal activists in the Mahal area involved burning an effigy of Aurangzeb. Within hours, social media was flooded with unverified claims of a holy book’s desecration, sending thousands onto the streets in a frenzy. By nightfall, Nagpur was ablaze with arson and vandalism. The speed with which events escalated underscores the state’s failure to anticipate and neutralize such threats.


Police forces, caught napping, struggled to contain the violence, relying on lathi charges and tear gas to disperse rioters. Given that the Shiv Jayanti celebrations and the tomb protest occurred on the same day, authorities should have anticipated the potential for unrest. BJP leaders have claimed the violence was premeditated.


In recent months, Maharashtra has witnessed a disturbing pattern of lawless incidents, from the murder of Beed sarpanch Santosh Deshmukh to casteist violence in Beed to the rape of a woman in a bus stationed at Pune.


The government’s inability to curb misinformation and hold provocateurs accountable has emboldened extremists on both sides. The Maharashtra Police’s cyber wing is now investigating over 100 social media accounts suspected of spreading incendiary content, but damage control after the fact is hardly a substitute for pre-emptive governance.


The reaction from political leaders has been underwhelming. CM Fadnavis said the Mahayuti is committed to protecting Aurangzeb’s tomb as it is an Archaeological Survey of India (ASI)-designated site, but has insisted that its ‘glorification’ will not be tolerated.


Few symbols are as potent in Maharashtra’s politics as Aurangzeb’s legacy. The Mughal emperor who murdered Chhatrapati Sambhaji Maharaj is a historical villain in the state’s nationalist imagination. But the Mughal’s tomb has been here for more than centuries. So, it is not history that is driving violence today rather the state government’s inability to maintain order. Allowing the state’s governance to be dictated by street-level provocateurs, be they from right-wing Hindu groups or radical Islamist factions, sets a dangerous precedent. Political leaders must rise above identity-based posturing and focus on restoring order.


The buck stops with CM Fadnavis. The government must abandon the performative rhetoric and get their act together. That means deploying a more robust intelligence apparatus, cracking down on those who incite violence regardless of their ideological leanings and ensuring that the rule of law prevails over mob justice. The state cannot afford to let Nagpur’s flames spread any further.

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