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By:

Amey Chitale

28 October 2024 at 5:29:02 am

Bumrah: Turning Pressure Into Poetry

The victorious strategist wins first and then goes to battle Mumbai: Two years ago in Barbados, the scars of India’s crushing ODI World Cup final defeat still lingered and the drought of ICC titles weighed heavily. India had seized control in the middle overs, only to see it slip under Heinrich Klaasen’s fierce assault. With South Africa needing 30 off 30 balls and their in-form batter at the crease, momentum appeared lost. That was when he stepped in to halt the Proteas’ surge. His spells...

Bumrah: Turning Pressure Into Poetry

The victorious strategist wins first and then goes to battle Mumbai: Two years ago in Barbados, the scars of India’s crushing ODI World Cup final defeat still lingered and the drought of ICC titles weighed heavily. India had seized control in the middle overs, only to see it slip under Heinrich Klaasen’s fierce assault. With South Africa needing 30 off 30 balls and their in-form batter at the crease, momentum appeared lost. That was when he stepped in to halt the Proteas’ surge. His spells in the 16th and 18th overs slowed the chase and turned the tide. While Suryakumar Yadav’s spectacular boundary catch grabbed the headlines, his economy of 4.5 and two crucial wickets quietly shifted the balance. India’s fightback was shaped not just at the boundary but through the calm precision of his bowling. Two years later, India were defending a towering 255 at the Wankhede Stadium. Yet, as often happens with big totals, complacency crept in and the game began to slip away. Bethell’s ferocious hitting had nearly turned the contest in England’s favour. Once again, the captain turned to his trusted lieutenant—Mr Reliable. Summoned in the 16th and 18th overs, he delivered with precision. With the asking rate nearing 14, he conceded just 14 runs. Brutal yorkers speared at the batter’s legs, leaving little room to manoeuvre. It was a masterclass in control under pressure, steadying India’s grip on the game. He stayed cool under pressure, handling the storm without surrendering psychologically. While Sanju Samson’s brilliance and Axar Patel’s composure grabbed the headlines, it was again his quiet mastery that helped India regain momentum. Over the years, he has embodied consistency and resilience, thriving when others faltered. Fame and glamour were never his pursuit, yet his presence has often proved decisive—felt in every crunch moment and crucial spell. He is not just a match-winner but a craftsman of control, a bowler who bends the game’s rhythm to his will. Among Greatest Indeed, Jasprit Bumrah ranks among cricket’s greatest fast bowlers—the unsung hero of Barbados and Wankhede, turning pressure into poetry with the ball. His spells are more than memorable moments; they are calculated interventions delivered at the precise juncture where pressure, timing and psychology shape the contest. Not merely a frontline warrior, he is a tactical commander, orchestrating the battle with precision and authority. Sun Tzu, in The Art of War , reminds us: “In the midst of chaos, there is also opportunity.” The finest generals do not merely attack soldiers; they dismantle strategy. Jasprit Bumrah does exactly that—targeting the batter’s confidence, disrupting the innings’ rhythm and shrinking the time for the chase. At crucial moments, he punctures momentum with precision. Sun Tzu wrote that supreme excellence lies in winning without prolonged battle. Bumrah’s spells are not about dramatic collapses but strategic strangulation. Sustained pressure erodes decision-making and forces errors. His bowling values control over spectacle.   Shivaji Maharaj’s military brilliance lay in using limited resources with strategic precision. His campaigns relied on small, decisive strikes delivered at unexpected moments. With only four overs at his disposal, Jasprit Bumrah turns risk into opportunity—his very presence carrying the aura that, once deployed, the battle will shift. Turning Risks Just as Shivaji Maharaj’s triumphs relied on trusted commanders, India’s victories here hinged on Bumrah’s quiet precision. He was not merely a bowler in the lineup but the commander whose interventions reshaped the contest. A deeper lesson lies in these performances. In an age that glorifies speed and instant success, Bumrah’s craft reminds us that true mastery rests on preparation, clarity and composure under pressure. Success—whether in sport or life—is rarely one dramatic act but the result of discipline and the courage to step forward when the moment matters most. Sun Tzu wrote, “The victorious strategist wins first and then goes to battle.” Bumrah’s spells reflect that philosophy. His impact lies not in sudden collapses but in calculated control, where each delivery serves a larger plan. Cricket fields and historic battlefields may seem worlds apart, yet their strategies often mirror each other. Batters’ blazing strokes may dominate highlight reels, but the quiet control of bowlers like Bumrah often decides a match. He does not simply bowl; he reshapes the battlefield.

Loans against mutual fund are not ideal for long term expenses: Krishna Kanhaiya

Updated: Oct 21, 2024


Loans against mutual fund are not ideal for long term expenses: Krishna Kanhaiya

As mutual fund units are emerging as the new collateral for pledging beyond conventional gold and real estate, The Perfect Voice spoke with Krishna Kanhaiya, Director and CEO, Mirae Asset Financial Services – a NBFC that lends against mutual fund units and securities to gather more insights on the subject. Excerpts…


It has been over two years since you launched loan against mutual funds. How has been the journey of your loan book so far in terms of the type of retail investors?

Launched in July 2022, our loan book has doubled from December 2023 till date after having surged from January to December 2023. With our digital first approach, we have seen borrowers in the age group of 30-50 years for their needs including marriage, home renovations, children’s education, and travel.


What is the market size of loan against mutual funds in India and how seamlessly can an individual complete the process?

Unfortunately, there isn’t a published report that specifically outlines the market size for loans against mutual funds. This type of loan is typically categorized under the broader umbrella of loans against securities, which also includes loans against shares, insurance policies, gold, property, and other assets.

However, we believe that the potential market size for loans against mutual funds is significant. This belief is rooted in the current scale of individual investors’ Assets Under Management (AUM), which, as of July 2024, stands at an impressive Rs 39.50 lakh crore.


Compare to gold loan or loan against property, how convenient and cost effective it is, in terms of interest rate, to borrow against MF units

Some of the challenges with a loan against properties include valuation of the property, depending on the condition of the property and the time-consuming and tedious process along with high processing fees and other charges. Moreover, the borrower has to submit income documents to prove his or her repayment capability, even if it is a secured loan and interest rate may differ on credit score of the borrower, age, type of property and repayment capability among others.

In case of availing gold loans, interest rate is higher compared to loan against mutual funds and the process is physical as the borrower has to visit the branch or the relationship manager has to collect gold from the applicant’s place. Valuation of gold is based on gold purity and yellow metal below 18K is not accepted and the entire value of ornament is not considered.


What are the risks including margin call that an individual should bear in mind while borrowing against MF units? Any of your experience of default so far.

If the market falls, your eligible loan limit is revised as per the current market value of the pledged mutual funds on a daily basis. Where the borrower’s utilized amount is higher than his or her revised eligible limit, you receive a margin call to regularize your loan account within the stipulated timeline either by depositing additional funds or by pledging additional mutual fund units as collateral.

We recommend our clients to not utilise 100% of the loan limit and to maintain a buffer to avoid such margin calls. Pledged mutual funds may be invoked if the borrower fails to regularize the account or repay your over-dues within the stipulated time period. Till the units are pledged, redemption will not be possible. Loans against mutual fund are not ideal for long term expenses and against short term investments and they should not be used for speculative purposes in the capital market.


Are all mutual fund units eligible to be pledged for borrowing or are there any restrictions?

Not all mutual fund units are eligible for pledging to borrow against them. Close-ended mutual fund schemes are not eligible for pledging as they cannot be invoked in case of default. Hence, only open-ended schemes can be pledged to avail loan against mutual funds. Tax saving schemes (ELSS) outside of the lock-in period can be pledged to avail the overdraft facility.


Is the borrower entitled to receive benefits like dividend and other benefits if any, from the pledged units during the period?

Yes, the borrower is entitled to receive benefits such as dividends and other related benefits from the pledged units during the period of the loan. When a borrower pledges their mutual fund units as collateral for a loan, they retain full ownership of those units. This means that, even though the units are pledged, the borrower continues to be the legal owner and thus is entitled to all the benefits that come with ownership.

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