top of page

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.)

Phantom Terror

Apr 23
2 min read

Nearly two decades after the 2006 Malegaon blasts killed 31 people, the Bombay High Court’s judgement has collapsed the last standing prosecution. By quashing the charges against the four remaining accused, the court has effectively closed a case that traversed three agencies, two mutually exclusive theories and 19 years without a single conviction. If justice delayed is justice denied, then justice rewritten is something worse.


The Malegaon saga is a stark indictment of how terror became politicized and elastic enough to be stretched to suit ideological needs. In the immediate aftermath of the 2006 blasts, the Maharashtra ATS arrested nine Muslim men. The Central Bureau of Investigation, taking over in 2007, endorsed that line. Then, in 2011, the National Investigation Agency executed a dramatic pivot, discarding the original accused and advancing an entirely different theory implicating persons from the Hindu community.


Notable among these were Lt. Col. Prasad Purohit, the Army intelligence officer, who spent nearly nine years incarcerated and Pragya Singh Thakur, who were both illegally detained and brutally tortured by the ATS who coerced him into making statements and implicating organisations under duress. Allegations of custodial torture and fabrication of evidence were repeatedly raised against the initial investigators.


While Purohit and Thakur were finally acquitted last year by the Mumbai NIA court, the entire investigation has eroded the credibility of institutions meant to be impartial while deepening public cynicism about whether justice is pursued or manufactured.


The 2008 Malegaon blast case introduced a new lexicon - “saffron terror” – by figures in the previous Congress-ruled UPA government such as P. Chidambaram and Digvijaya Singh, who publicly advanced the idea that Hindu terrorism could be be mapped onto religious identity in a manner that mirrored global Islamic jihadist threats. The implication was a symmetrical moral equivalence between Islamist militancy and alleged Hindu extremism.


The courts have now punctured these constructions. None of this diminishes the horror of Malegaon. Thirty-one people died in 2006; six more in 2008. Their killers remain unidentified in the eyes of the law.


The eagerness with which sections of the then Congress-led establishment embraced the language of “Hindu terror” reflected a broader impulse to counter one form of extremism by positing another. It was a strategy as clumsy as it was counterproductive. By framing terror through the prism of identity, it invited polarisation while weakening the state’s own prosecutorial case.


The political tone was set even earlier. In a 2009 conversation with the US Ambassador, later revealed through WikiLeaks, Rahul Gandhi suggested that “radicalised Hindu groups” could, in certain respects, pose a greater internal threat than outfits like Lashkar-e-Taiba. Singh went further, at points alleging links between the Rashtriya Swayamsevak Sangh and even the 26/11 attacks.


The Malegaon case chillingly proves that when terror becomes a label in a partisan lexicon, justice is the first casualty, and truth the last to be found.

Comments


bottom of page