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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its...

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its worth not only during festivals, but also during uncertain times. Whenever the world faces wars, inflation, currency weakness, economic slowdown, or financial panic, investors across the globe look at gold as a safe haven. This is because gold has a unique quality. It is trusted across countries, cultures, and generations. It does not depend on the promise of one government, one company, or one currency. Why Gold Holds Value Unlike paper currency, gold cannot be printed endlessly. Unlike businesses, it does not depend on profits or management quality. Unlike real estate, it is globally accepted and easily valued. This is why gold continues to remain one of the oldest and most respected stores of value. It has survived centuries of change, economic cycles, wars, and financial crises. The Right Role in Your Portfolio That said, gold should not be treated as a shortcut to wealth creation. Equities and equity mutual funds still remain essential for long-term growth. Gold plays a different role. It brings balance, stability, and protection to your portfolio. When equity markets are volatile or global uncertainty rises, gold often provides comfort. A sensible allocation of around 10-20% to gold can help reduce overall portfolio risk.  So basically, while stocks and equity mutual funds play the lead role in your long-term financial goals, gold plays the supporting but essential role. Physical Gold Has Limitations However, the way you invest in gold matters. Buying physical gold during festivals may feel emotionally satisfying, but it comes with practical challenges. There are making charges, purity concerns, storage issues, risk of theft, and liquidity problems. A necklace may be beautiful, but you cannot easily sell only a small portion of it when you need money. Also, when gold is bought as jewellery, the investor often forgets to calculate the actual return after making charges and deductions. Smarter Ways to Invest This is where Gold Mutual Funds and Gold ETFs become useful. They allow you to invest in gold without worrying about lockers, purity, theft, or storage. You can invest flexible amounts, start SIPs, track value easily, and redeem conveniently when required. For investors who want gold as part of their financial plan, these options are far more practical than buying jewellery purely as an investment. Tradition with Financial Clarity Akshay Tritiya is a beautiful reminder that wealth should be built with faith, patience, and clarity. Buying gold is auspicious, but buying it in the right form is financially wise. This Akshay Tritiya, celebrate tradition - but also upgrade your financial thinking. Because true prosperity is not just about owning gold. It is about owning it smartly. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

'Sabby remained humble, soft-spoken'

Pushkaraj Sabharwal, father of Captain Sumeet Sabharwal, pays tribute to his son's mortal remains in Mumbai on Tuesday.
Pushkaraj Sabharwal, father of Captain Sumeet Sabharwal, pays tribute to his son's mortal remains in Mumbai on Tuesday.

Mumbai: With white smoke emanating from Captain Sumeet Sabharwal's funeral pyre providing the dark backdrop to the sombre mood at the crematorium, his two colleagues from Air India bade final farewell to their friend-cum-hero "Sabby" whose captivating smile won hearts.


Sabharwal was the pilot in command of the ill-fated Ahmedabad-London Gatwick Air India plane that crashed last week, killing 241 out of 242 people on board, and 29 on the ground.


Air India captain and Sabharwal's colleague Kapil Kohal stood numbed, struggling to maintain his composure, as his friend's mortal remains were consigned to flames at Muktidham crematorium in Chakala.


"Captain Sabharwal was our senior. We've known him for 35 years. He was a batch senior in training, and later, in Air India too," Kohal said, his voice heavy with grief and pride.


"He was our friend and colleague. Today, we see him as a hero," he added.


In a profession where uniforms are crisp and demeanours composed, Captain Sabharwal stood out — not just for his flying skills, but for his grounded nature.


"He lived simply. Two sets of clothes, a couple of pairs of slippers and shoes. That's all you'd find in his room," Kohal recalled.


"Despite wearing four stripes on his shoulders, he remained humble and soft-spoken. The crowd today says everything about his character," he added.


To those who knew him closely, "Sabby" was a quiet presence with a warm heart.


"We used to call him ‘Sag Sag' or just ‘Sabby'. We'd often joke with him — ‘Why are you always so serious?' He wouldn't speak much on WhatsApp groups. But he'd send thoughtful personal messages, asking about our families, and our kids' milestones. He cared deeply, quietly,” Kohal shared.


Cold skies

Captain Shankar Chaudhary, another colleague and close friend, said what he would miss most was Captain Sabharwal's radiant smile.


"Even after long-haul flights, he always greeted us with that same warm, reassuring smile. He was a happy-go-lucky guy," he said.


"Now, every time I see that final image of the aircraft going down, it tears me apart. I wonder—what would I have done in his place?" he said.


Captain Chaudhary also expressed frustration over early speculation on the cause of the crash.


"People are already calling it pilot error. I'm shocked and deeply saddened. That Dreamliner is a powerful aircraft. It can practically fly vertically. Even if the gear or flap or whatever was out, the engine power could override everything else," he added.


In the days since the tragedy, the skies above India have felt different to those who fly them.


"I took a flight out just two days after it happened.And the skies felt cold. The morale of everyone — passengers, ground staff, dispatchers — was just… shattered. Even on the ATC, you could hear it in their voices, especially when I used my call sign," said Captain Kohal.


He advised restraint while speculating the probable cause of the plane crash. "Authorities are doing their part, so let's wait. Even we, as professionals, are waiting to understand what exactly went wrong—so that we can retrain. In aviation, every crash, and every accident becomes a lesson—for the manufacturers, for us pilots, for the operators. Somewhere, something didn't align," he concluded.


Emotional farewell to cabin supervisor Shradha Dhavan

Under the quiet cover of darkness, amid flickering lamps and tear-filled eyes of near and dear ones, the body of Shradha Dhavan, cabin supervisor of the ill-fated Air India flight, was brought to the home she cherished.


The residents of 'Nishad' housing society in Mulund and many senior serving and retired officials of Air India had gathered on Thursday night to rally behind the family which decided to go for a cremation during the night after "four painful days" of waiting for her remains.


The atmosphere grew more sombre and heavier with grief when Shradha's inconsolable father, Madhav Dhavan, insisted that the coffin be taken to the flat that she had purchased — a place that now stood as a bitter-sweet reminder of aspirations never realised.


"It was a haunting moment, filled with the stark reality of dreams interrupted and the futures that would never unfold," said a close friend who worked with her. Among the inconsolable family members was the 15-year-old daughter of the victim who has virtually become numb as in Shradha, she not only lost a mother but a friend who always stood next to her in her life.


After performing rituals at home, the mortal remains of Shradha were moved to a nearby crematorium where the entire coffin was put on the pyre.


Quietly, her brother Vivek, who had received her coffin in Ahmedabad, pulled out a piece of sari, worn by her during the crash and her nameplate, and kept it on the funeral pyre with tears rolling down his eyes.


"After four painful days, her remains returned to her loved ones, who had anxiously awaited news," said another friend of Shradha. Shradha's daughter, who along with her father took a brave step forward, performed the final rituals.


Many people could not hold back their tears the moment the teenager placed the coffin on the pyre.


"We can't believe that the bond will be severed too soon," her friend said.


Shradha's friends shared stories, laughter, and tears, collectively honouring the vibrant life of a woman who had touched many hearts with her kindness and dedication.


Through the pain, they vowed to carry her spirit forward, keeping her memory alive in their hearts as they navigated this unimaginable loss.


Captain Sabharwal cremated

Last rites of Captain Sumeet Sabharwal, pilot in command of the Air India plane that crashed in Ahmedabad last week, were performed in Mumbai on Tuesday with his grief-stricken father bidding a heart-wrenching, tearful farewell to his son before the cremation. The last rites were performed at an electric crematorium in suburban Chakala in the presence of family members, officials said, hours after Sabharwal's mortal remains were brought to Mumbai from Ahmedabad. After performing the final rites of the 56-year-old veteran pilot, his father and other family members left the crematorium at around 11.15 am, an official said.


Earlier in the morning, the casket carrying the remains of Sabharwal reached the Mumbai airport by a flight and was taken to his residence, located at Jal Vayu Vihar in Powai area, by his family members, an official said.


Several friends and relatives of Sabharwal as well as local residents gathered outside his residence to pay homage.


Businessman Niranjan Hiranandani and local MLA Dilip Lande were among those who visited Sabharwal's residence to pay respects to him. Sumeet Sabharwal's father Pushkaraj and other relatives were also seen paying homage. A hearse carrying the pilot's mortal remains then left for the electric crematorium at Chakala.

- With PTI

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