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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.)

Psychology Key in Tackling Crime Surge

Updated: Oct 21, 2024

Crime rates in India have surged significantly, creating an ever-growing backlog of cases. Modern crimes differ markedly from the past, often leaving minimal physical evidence at crime scenes. Such challenges pose a hurdle for investigating agencies trying to link perpetrators to their crimes. While suspects can be identified, proving their involvement in the courts remains a complex task. Forensic psychology plays a crucial role in addressing these issues.

Forensic psychology integrates principles from psychology, forensic science, and law to enhance the justice delivery system. Its application within the Indian criminal justice system has expanded over recent decades. Forensic psychology encompasses a range of techniques, collectively referred to as Forensic Psychological Investigative Techniques (FPITs). These include Deception Detection Technologies (DDTs) like polygraphs, narco-analysis, Brain Electrical Oscillation Signature Profiling (BEOS), Layered Voice Analysis, and Suspect Detection Systems, as well as methods such as Psychological Autopsy and Offender Profiling.

These FPITs combine psychophysiological principles with technology, serving as valuable tools in investigations. They are employed to screen suspects, detect deception, and determine a suspect’s knowledge or involvement in a crime. Despite their utility, the legal status of these techniques in India remains contentious.

The right to remain silent, a cornerstone of legal protection in India, is enshrined in Article 20(3) of the Indian Constitution and Article 11 of the Universal Declaration of Human Rights. Section 161(2) of the Criminal Procedure Code (CrPC) reinforces this right, stating that individuals are not obliged to answer questions that could incriminate them. This right was further upheld by the Supreme Court in the landmark case of Nandini Satpathy vs. Dani.

However, the use of forensic psychological techniques such as polygraphs and narco-analysis have been contested. In the 2010 case of Selvi & Ors vs. the State of Karnataka, the Supreme Court addressed the issue of involuntary administration of these tests. The Court ruled that such tests cannot be administered without the subject’s consent, as they would infringe on the right to remain silent. Nevertheless, if these tests are administered voluntarily, their results may be admissible under Section 27 of the Indian Evidence Act, which permits the use of evidence obtained voluntarily in certain contexts.

One notable case where forensic psychological techniques played a significant role was the 2008 Mumbai terror attacks. Narco-analysis was used on the suspects to extract information about the planning and execution of the attacks. The technique provided critical leads that aided in piecing together the sequence of events and provided crucial information regarding terrorist training camps in Pakistan.

Another important case is the 2009 Aarushi Talwar murder case. In this case, polygraph tests were administered to various suspects, including the parents of the victim. While the results were not directly admissible in court, they were instrumental in narrowing down the list of suspects and guiding the investigation.

The hit-and-run case of the Dhanbad judge involved the use of BEOS and narco-analysis to extract information from the suspects. The technique was employed to confirm the identities of those involved and their roles in the crime. Although controversial, these techniques provided crucial leads for the investigation.

In 2022, Ashraf Ali, an ISI agent, was caught by the Delhi Crime Branch. BEOS and narco-analysis were used to interrogate him. The use of these techniques was crucial in uncovering hidden details about the suspect’s involvement and motivations.

Forensic psychology is vital in addressing complex crimes in India and offers essential tools like polygraphs and narco-analysis. While these methods have proved valuable in investigations, their use remains legally contentious. Balancing their application with constitutional rights is crucial for advancing justice and ensuring ethical practices in the future.

(Keshav Kumar, IPS (Retd.) is a consultant to Assam Government. Hemant Reddy is forensic Psychologist. Views personal)

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