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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.)

Return of the Commissioner

May 3, 2025
3 min read

Mumbai’s new top cop returns with political backing, a checkered past, and a vision for the future.

Deven Bharti’s elevation as Commissioner of Police in Mumbai marks the return of a familiar, controversial and politically well-networked officer to the summit of Maharashtra’s policing hierarchy. A 1994-batch officer of the Indian Police Service (IPS), the 56-year-old Bharti’s appointment follows the retirement of Vivek Phansalkar, a low-key officer known more for his institutional steadiness than flair.


In contrast, Bharti is a figure whose career has long been entangled with high-stakes investigations, public controversies and persistent whispers of political patronage. His most powerful backer, according to many in Maharashtra’s political circles, has been Maharashtra Chief Minister and Home Minister Devendra Fadnavis. That Bharti rose through the ranks during Fadnavis’s previous tenure as Chief Minister (2014–19) was widely noted, if not always explicitly stated.


There’s an unwritten saying in Mumbai’s bureaucratic circles that the police commissioner is less a cop than a courtier. Few officers in Maharashtra have embodied this and occupied the public imagination as persistently as Bharti, who did his master’s at the Delhi School of Economics.


He has spent most of his career toggling between high-stakes crime postings and politically volatile appointments.


He was Joint Commissioner of Police (Law and Order) for over four years, making him the longest-serving officer in that post in Mumbai’s recent history. He went on to lead the Maharashtra Anti-Terrorism Squad (ATS), held key postings in the Crime Branch, and served as Inspector General (Law and Order) at the state level. More unusually, in 2023, a new post of ‘Special Commissioner of Police’ was created seemingly to accommodate his return to Mumbai’s policing core - an indication of his continuing institutional clout.


Yet Bharti’s rise has not been without turbulence. He was among four senior officers named by Hasan Gafoor, Mumbai’s Police Commissioner during the 26/11 terror attacks, for allegedly hesitating during the operation. For a man who prefers to control the narrative, it was a rare public bruise for Bharti.


While never formally indicted, the mention nonetheless left a mark. In 2020, Rakesh Maria, another former Commissioner, alleged in his memoir that Bharti had prior knowledge of the Sheena Bora disappearance case and failed to escalate it - a charge Bharti firmly denied.


Other accusations have followed. In 2021, a First Information Report (FIR) was filed against him for allegedly helping suppress a passport fraud case involving the wife of a BJP politician. The charges included cheating, forgery, and violations under the Indian Passport Act. When the Uddhav Thackeray-led Maharashtra Vikas Aghadi (MVA) coalition took power, Bharti was transferred to the Maharashtra State Security Corporation, widely seen as a ‘cold storage’ for politically inconvenient officers.


The tide turned again in October 2022, when the Mahayuti coalition returned to power after toppling Thackeray’s government, and Fadnavis resumed charge of the Home portfolio. Bharti was cleared of all charges by the Mumbai Crime Branch, paving the way for his rehabilitation and eventual ascent to the commissioner’s chair.


In his first press briefing as commissioner, Bharti struck a technocratic tone. His priorities, he said, include bridging the gap between the police and the citizen, tackling cybercrime and integrating artificial intelligence into predictive policing.


What distinguishes Bharti is not just his resume, but the durability of his proximity to power. In a state where postings are frequently reshuffled based on political convenience, Bharti’s repeated returns to plum positions reflect not only administrative competence but also political trust. His close relationship with Fadnavis has not gone unnoticed. In 2019, when the Election Commission ordered the removal of all officials who had served more than three years in one posting, the then BJP-led state government requested an exception for Bharti.


Supporters describe him as decisive and experienced. Critics see in his career a case study in the thin line between professional merit and political favour. Yet there is little doubt that his return to the helm of the Mumbai Police signals a recalibration of both strategy and symbolism. The city’s law and order machinery has had a reputation to defend amid rising cyber threats, communal tensions, and violent crime in outer districts.


It remains to be seen whether Bharti’s second act as commissioner will enhance the credibility of the Mumbai Police or deepen perceptions of politicisation. For now, it is clear that the city’s most powerful uniform is back on the shoulders of a man who has worn it, lost it and reclaimed it with remarkable timing.

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