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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.)

Human sacrifices suspected; five bullets missing

Quaid Najmi
Mar 24
3 min read

Mumbai: In a high-voltage courtroom packed with tension, the Nashik Sessions Court extended the police custody of fake godman Ashokkumar Eknath Kharat till March 29, as investigators sought time to probe shocking leads pointing at suspected human sacrifices and huge wealth besides the alleged sexual exploitation crimes.

 

In a startling revelation, the police said that they recovered a black revolver with 21 bullets from his Mirgaon farmhouse, but five shells are missing. The Public Prosecutor Ajay Missar said that this, coupled with other circumstantial evidence has raised suspicions of possible human sacrifice, though it has yet to be confirmed.

 

Kharat, 67, his face covered in a black cloth, was produced before the court at 3:50 pm, when the courtroom was crowded with lawyers, activists and commoners, while firebrand women’s leader Trupti Desai staged a noisy protest outside.

 

The Chief Minister Devendra Fadnavis made a statement in the Assembly on the Bhondu baba scam that has rocked the state polity for the past week with sensational details emerging daily in the investigations.

 

Sedative Substances

In Nashik, seeking extension of Kharat’s custody, the SIT IO Kiran K. Suryanshi informed the court details of the probe so far. He said that Kharat’s victims were given pedhas, crystal sugar and water after which they experienced nausea, pointing to sedative-laced substances which need to be traced.

 

The police also seized Rs. 6.53 lakhs in cash, two laptops and a DVR, the mobile phones of the accused and his associates are being investigated to determine the number of targeted victims, and the financial trail of his dealings of the globe-trotting Kharat, who is facing a total of 8 cases, including 6 lodged by his victims in different police stations.

 

Snakes’ Use

The prosecution said that the SIT wants to probe allegations that Kharat used cobras, snakes and tigers to proclaim himself as a ‘Siddha Purush’ with supernatural powers during his rituals. A pen drive with videos of his victims also needs to be probed and confirmed, besides recovering deleted data from his mobile phone and other devices through Forensic experts.

 

The sleuths have to dig out if these creatures were real or dummies, and whether wildlife laws are violated. He allegedly distributed the rare musk (Kasturi) suggesting illegal exploitation of the wildlife for his illicit activities, and details of his associates and accomplices in these crimes.

 

Opposing the plea for further custody, Kharat’s lawyer said that the investigation has already run for seven days, the police have recovered videos, electronic devices, cash and weapon, no additional evidence including a purported pen drive are officially recorded, and hence the probe can continue without his further police remand.

 

During the proceedings, Kharat was seen standing with his head bowed, staring at his hands, without displaying emotions or making eye contact with anybody.

 

When the court asked him for his version, he merely said: “I have no knowledge of snakes or tigers, hearing it for the first time. I only visited the temple occasionally during festivals when there were around a 100 people present. I have answered all the questions during the interrogation.”

 

After hearing both sides, the Additional Chief Judicial Magistrate Patil granted extension of Kharat’s custody by five more days till March 29, to enable the SIT probe the remaining angles.

 

Cops bar media

Considering the sensitivity of the sensational case, through Sahyog portal, the SIT has approached social Media like Instagram, YouTube or Facebook to delete or strike down photos/videos that could violate the privacy of Kharat’s victims.


Television channels which telecast such videos have been slapped with notices of warning proceedings under the BNSS Act, Sec. 72(1), after which several news outlets have complied.


Kharat is facing a total eight cases, including five from the victims comprising those in some alleged videos that went viral, one through a victim’s relative and 2 other related matters, which the STI is probing from multiple angles.

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