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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its...

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its worth not only during festivals, but also during uncertain times. Whenever the world faces wars, inflation, currency weakness, economic slowdown, or financial panic, investors across the globe look at gold as a safe haven. This is because gold has a unique quality. It is trusted across countries, cultures, and generations. It does not depend on the promise of one government, one company, or one currency. Why Gold Holds Value Unlike paper currency, gold cannot be printed endlessly. Unlike businesses, it does not depend on profits or management quality. Unlike real estate, it is globally accepted and easily valued. This is why gold continues to remain one of the oldest and most respected stores of value. It has survived centuries of change, economic cycles, wars, and financial crises. The Right Role in Your Portfolio That said, gold should not be treated as a shortcut to wealth creation. Equities and equity mutual funds still remain essential for long-term growth. Gold plays a different role. It brings balance, stability, and protection to your portfolio. When equity markets are volatile or global uncertainty rises, gold often provides comfort. A sensible allocation of around 10-20% to gold can help reduce overall portfolio risk.  So basically, while stocks and equity mutual funds play the lead role in your long-term financial goals, gold plays the supporting but essential role. Physical Gold Has Limitations However, the way you invest in gold matters. Buying physical gold during festivals may feel emotionally satisfying, but it comes with practical challenges. There are making charges, purity concerns, storage issues, risk of theft, and liquidity problems. A necklace may be beautiful, but you cannot easily sell only a small portion of it when you need money. Also, when gold is bought as jewellery, the investor often forgets to calculate the actual return after making charges and deductions. Smarter Ways to Invest This is where Gold Mutual Funds and Gold ETFs become useful. They allow you to invest in gold without worrying about lockers, purity, theft, or storage. You can invest flexible amounts, start SIPs, track value easily, and redeem conveniently when required. For investors who want gold as part of their financial plan, these options are far more practical than buying jewellery purely as an investment. Tradition with Financial Clarity Akshay Tritiya is a beautiful reminder that wealth should be built with faith, patience, and clarity. Buying gold is auspicious, but buying it in the right form is financially wise. This Akshay Tritiya, celebrate tradition - but also upgrade your financial thinking. Because true prosperity is not just about owning gold. It is about owning it smartly. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Idol Uproar

Updated: Oct 22, 2024

The removal of Sai Baba idols from temples in Varanasi city has ignited a fresh wave of religious contention in India. Saffron groups and senior Hindu seers, led by the Sanatan Rakshak Dal (SRD) and the Brahmin Sabha, have successfully campaigned for the removal of Sai Baba idols from over ten temples in this revered Hindu pilgrimage city. They argue that Sai Baba’s worship deviates from traditional Hindu doctrine and that he should not be included in the pantheon of Hindu gods.

The SRD and Hindu leaders in Varanasi clarify they are not against Sai Baba but oppose his idols in temples due to his absence from ancient scriptures. While they present this as a matter of doctrinal purity, critics view it otherwise. But this is no simple doctrinal dispute. The controversy highlights a fundamental tension between religious orthodoxy and eclectic devotional practices that often flourish in India’s diverse spiritual landscape, between North Indian orthodoxy and Maharashtra’s syncretic traditions. Sai Baba’s home is not in North India but in Shirdi, Maharashtra, where he has been venerated for over a century. To the millions of his followers, Sai Baba is a saint and a divine incarnation. Yet in Varanasi, India’s religious heartland, he is an ‘outsider.’

The SRD’s argument, which echoes a broader orthodox Hindu belief, is that only traditional deities such as Shiva, Vishnu, Ganesha, and Shakti can be enshrined in temples. Sai Baba, who lived as a fakir, cannot be considered a Hindu god.

The historical ambiguity of Sai Baba’s identity is at the core of this debate. Sai Baba’s origins remain shrouded in mystery. Arriving in Shirdi as a young man, he became a spiritual guide whose teachings transcended religious divisions. Is Sai Baba Hindu or Muslim? He lived in a mosque, dressed as a Muslim, and spoke of Allah. Yet his message resonated with Hindus, and he permitted rituals from both religions, referring to Hindu deities as often as Islamic teachings.

For his devotees, these distinctions are irrelevant; he is simply God. But traditionalists insist that no mortal man, even one as venerated as Sai Baba, should be deified in Hindu temples. The SRD’s campaign has resonated among traditionalists in Varanasi, but in Maharashtra, the move has struck a nerve. Sai Baba is a central figure in the state’s spiritual life, his shrine in Shirdi attracting millions of pilgrims each year. The controversy has been rapidly politicized. Meanwhile, Uttar Pradesh’s Samajwadi Party has labeled the removal of Sai Baba idols a BJP ‘stunt’ aimed at creating division for political advantage. The BJP’s emphasis on Hindutva may alienate voters in Maharashtra, where Sai Baba is widely revered.

Critics see the removal of Sai Baba’s statues as a push towards religious exclusivity in a country celebrated for its diverse beliefs. The uproar raises questions on what it means to be Hindu in modern India and whether saints like Sai Baba, who defy categorization, still have a place - an answer that seems to vary by region.

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