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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.)

Judicial Reckoning

In a system where justice is often delayed and too frequently denied, the Bombay High Court has struck a blow for accountability. The court has ordered the registration of a First Information Report (FIR) against five police personnel involved in what it strongly implied was a custodial murder. The deceased, Akshay Shinde, stood accused of sexually assaulting two minor girls in Badlapur – a case that had rocked Maharashtra.


Shinde, while being transported from Taloja prison to a court in Kalyan, was allegedly shot dead in an encounter in September last year. The police claimed he had snatched a weapon and opened fire, an all-too-familiar script in the theatre of extrajudicial justice. But this time, the state’s narrative unravelled. A magistrate’s inquiry into the incident found credible evidence to suggest that the encounter was staged. It concluded that Shinde succumbed to bullet injuries inflicted by officers including a senior inspector, an assistant inspector, two constables and a driver - all from Thane crime branch.


The High Court, in ordering a special investigation team under the joint commissioner of police, minced no words. It chastised the government for its “reluctance” to register an FIR, warning that such obstinacy undermined the rule of law and erodes public faith in the justice system.


Custodial deaths remain a chilling feature of Indian policing, often brushed under the rug with bureaucratic deflections and delayed probes. Between 2017 and 2022, India witnessed over 800 custodial deaths, with barely a fraction resulting in convictions. Maharashtra, despite its modernising rhetoric, has consistently featured among the worst offenders.


That the Fadnavis-led Mahayuti government chose to shield the officers by citing an ongoing CID investigation and a retired judge’s commission exposes the hollow core of its commitment to accountability. The government’s counsel even sought a stay on the court’s order, a move the judges rightly rebuffed. At best, this was bureaucratic inertia. At worst, it was a cynical attempt to stall justice.


The case touches a raw nerve in India’s criminal justice system: can the state police itself? Commissions and CID inquiries rarely bring closure. FIRs, though often misused elsewhere, serve as the bare minimum procedural gatekeeping in cases involving the state’s own excesses. That the court had to intervene to mandate even this first step is an indictment not just of the state police, but of the political executive overseeing it.


Devendra Fadnavis cannot claim ignorance for the incident. As Home Minister in the coalition government, the buck stops with him. His government’s attempted obstruction of judicial orders only strengthens the perception that encounters are not anomalies but acceptable shortcuts. In the process, the state risks losing its moral legitimacy.


The High Court’s intervention offers a glimmer of hope that institutional integrity matters. Justice in this case will hinge not just on the probe, but on whether the state can wean itself off the culture of impunity that has come to define its law enforcement.

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