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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Modak and the Art of Investing

As the aroma of freshly steamed Modaks fills homes during Ganesh Utsav, the festive spirit comes alive instantly. My mouth is already watering at the thought! The humble Modak, prepared with love to honour Lord Ganesha, may look simple from the outside. But anyone who has tried making one knows that a good Modak depends on several things coming together - the right ingredients, the right recipe, patience with the process, and finally, enjoying the result. Investing is surprisingly similar....

Modak and the Art of Investing

As the aroma of freshly steamed Modaks fills homes during Ganesh Utsav, the festive spirit comes alive instantly. My mouth is already watering at the thought! The humble Modak, prepared with love to honour Lord Ganesha, may look simple from the outside. But anyone who has tried making one knows that a good Modak depends on several things coming together - the right ingredients, the right recipe, patience with the process, and finally, enjoying the result. Investing is surprisingly similar. Choose the Right Ingredients A Modak is only as good as the ingredients that go into it. Fresh coconut, good-quality jaggery, properly prepared rice flour and the right flavours all contribute to the final result. Our investments and financial products are the ingredients of our financial plan. Equities, mutual funds, fixed income, gold and other investments each have a specific role to play. The objective is not to pick whatever appears most exciting at the moment, but to select suitable, good-quality investments that match our financial goals, time horizon and ability to take risks. Health and life insurance are equally important ingredients. Adequate coverage helps protect savings, the family, and their financial goals and dreams. Good ingredients provide the foundation. But ingredients alone are not enough. Get the Recipe Right You may have the finest ingredients in the kitchen, but if the proportions are wrong, the Modak may still not turn out well. The same applies to investing. Asset allocation is the recipe of a financial plan. Too much of one ingredient can spoil a Modak. Similarly, excessive concentration in one asset or too much money in low-return products can spoil a portfolio. Balance is key. A thoughtfully constructed portfolio brings different investments together in the right proportions. To keep asset allocation very simple - short-term goals can be planned through bank fixed deposits, recurring deposits and debt mutual funds. For long-term goals, one can consider hybrid mutual funds, equity mutual funds or direct stocks. Trust the Process Once the Modak is shaped and placed for steaming, constantly checking whether it is ready will not make it cook faster. Investors often make the same mistake. We keep checking markets, reacting to every correction, chasing recent performers or changing strategies because of short-term noise. Good investing requires patience and discipline. Invest regularly, review periodically and allow your financial plan enough time to work. Compounding is powerful precisely because it rewards those who remain invested for long periods. Sometimes, the best thing an investor can do is simply avoid unnecessary interference. Enjoy What You Have Created Finally comes the most important part - eating the Modak! The purpose of investing is not merely to accumulate the largest possible number on a statement. Wealth should eventually help us fulfil our goals, support our families, create financial security and enjoy life with greater peace of mind. A good Modak needs the right ingredients, the right recipe and trust in the process. A good investment journey needs exactly the same. This Ganesh Utsav, may Bappa bless us with the wisdom to make good financial choices, the patience to stay disciplined, and the prosperity to enjoy the fruits of our efforts. Ganpati Bappa Morya! (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Loan Scheme Could be Game Changer

Suyash Padate
Nov 20, 2024
2 min read
Annasaheb Patil Loan Scheme

The Maharashtra government’s Annasaheb Patil Loan Scheme offers interest-free loans ranging from 10 to 50 lakhs to educated and competent youngsters in Maharashtra who want to start their own businesses or grow an existing one. Maratha youngsters are given loans to start their own businesses on behalf of the Maharashtra government through the Annasaheb Patil Economically Backward Development Corporation. Recently, the Maharashtra Government issued a Government Decision (GR) authorizing the disbursement of 30 crore rupees on behalf of the Annasaheb Patil Economically Backward Development Corporation.


Regarding the state’s unemployment, the Annasaheb Patil Loan Scheme was established to provide employment to the unemployed Maratha population, assist in business, and improve the state’s industrial sector. This initiative provides loans for businesses to the state’s youth in a very simple manner. Under this model, if a company makes a loan, the corporation pays the interest. This helps young people start their own businesses. The corporation is working to provide loans to the youngsters of the Maratha community. In the beginning, the teenagers had a difficult time obtaining financing from the firm. But eventually, the government improved the system for the youth so that they could receive funding as soon as possible. This system sets aside 4 percent of the total budget for the disabled.


The main and the most important objective of this scheme is to provide loans under the Annasaheb Patil Loan Scheme to the youth of Maharashtra state for them to start new businesses or expand current ones. To give financial help to economically disadvantaged groups, particularly unemployed youth, for them to start new businesses. Implementing plans to create jobs and self-employment prospects. To provide social development for economically disadvantaged groups. The bank provides self-employment to government-certified institutions as part of this strategy. Economically disadvantaged individuals are provided interest-free loans to establish employment groups, partnership societies, cooperative societies, corporations, LLPs, and FPO industries. The employment of the state will gradually increase, and the living standard of people will increase and get better.


In our state, there are many people who aspire to become entrepreneurs but struggle due to financial constraints. To address this issue, the state government initiated the Annasaheb Patil loan scheme. If you opt for a loan under this scheme to start your business, you will have a repayment period of up to 5 years. One of the prime conditions for the applicant is only permanent residents of Maharashtra are eligible for this loan scheme.

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