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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

The Financial Magic of 8/8

AI Generated Image If numbers could talk, 8 would speak the language of wealth. When the date doubles into 8/8, it becomes more than another day. It becomes a reminder of financial power, balance and long-term abundance. Yesterday, the calendar read August 8 - 8/8. In astrology and numerology, this date is considered significant. The Lion’s Gate Portal August 8 marks the peak of what is known as the Lion’s Gate Portal - a period believed to carry heightened energy for growth, abundance and...

The Financial Magic of 8/8

AI Generated Image If numbers could talk, 8 would speak the language of wealth. When the date doubles into 8/8, it becomes more than another day. It becomes a reminder of financial power, balance and long-term abundance. Yesterday, the calendar read August 8 - 8/8. In astrology and numerology, this date is considered significant. The Lion’s Gate Portal August 8 marks the peak of what is known as the Lion’s Gate Portal - a period believed to carry heightened energy for growth, abundance and transformation. I am a financial advisor - not an astrologer or numerologist - but I find this date fascinating because of the symbolism attached to the number 8. In numerology, 8 is associated with wealth, power, ambition and balance. It is also linked with discipline, responsibility and karma - the idea that our actions produce results. When the calendar reads 8/8, many believe this energy is doubled. A Financial Checkpoint Whether or not you believe in astrology or numerology, the date can serve as a financial checkpoint - an opportunity to pause, reflect and take steps towards building wealth. I recommend treating 8/8 as a money mirror - a moment to ask yourself: Are my investments aligned with my long-term goals? Is my money working for me, or am I caught in an earn-and-spend cycle? Am I creating lasting wealth, or merely temporary income? Your Mid-Year Money Reset We often make resolutions on January 1. But by August, more than half the year has passed. That makes 8/8 an excellent occasion for a financial reset. Use this weekend for review and action. The intention may begin on a symbolic day, but transformation comes from what you do next. Review your goals and expenses. Make lumpsum investments where appropriate, increase your SIPs, check whether your insurance cover is sufficient and organise your financial documents. Also review your asset allocation. Money meant for long-term goals must be invested in hybrid and equity mutual funds, stocks and gold. Money required for short-term goals should remain in safer options such as bank fixed deposits and recurring deposits. Declutter Your Finances Close unused accounts, cancel unnecessary subscriptions, consolidate scattered investments and ensure that your family knows where financial information is stored. These may seem like small steps, but wealth is rarely created through one dramatic decision. It is built through disciplined actions repeated over many years. The Infinity Connection When the number 8 is turned on its side, it resembles the symbol for infinity - . That is what true investing is about - allowing consistency, patience and compounding to work over long periods. It does not create wealth overnight. Given time, the results can appear magical. Turn Intention Into Action As we move beyond 8/8, do not let the intention remain limited to a date on the calendar. Set a financial intention. Act on it. Review it regularly. Even the largest fortunes begin with focused steps. When your present-day financial actions begin matching your long-term goals, real transformation begins. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

The Historian Who Mastered India’s Economy

Updated: Oct 21, 2024

The Historian Who Mastered India’s Economy

The hot seat of Reserve Bank of India’s Governor has, for the second consecutive year, been recognized as the top central banker globally by the US-based Global Finance magazine. The incumbent in this prestigious position, Shaktikanta Das, defies popular perception—not as a student of economics but as a postgraduate in history with a background in civil services.

Das, the RBI Governor, shares the top honours with Denmark’s Christian Kettel Thomsen and Switzerland’s Thomas Jordan, all receiving `A+’ ratings. These grades, based on a scale from A to F, reflect success in managing inflation control, economic growth, currency stability, and interest rate management. In 2015, then RBI Governor Raghuram Rajan became the first Indian to be recognized by the magazine. Since 1994, the Central Banker Report Cards, published annually by Global Finance, have graded the governors of 101 key nations. These awards have become a trusted standard of excellence for the global financial community.

Unlike his three immediate predecessors the 67-year-old Governor Das has maintained cordial relations without capitulating to the government’s wishes. His firm stance on cryptocurrencies and inflation, even amid increasing calls for growth, exemplifies his balanced approach.

However, Das, whose origins trace back to Odisha, has faced his share of setbacks since taking over in 2018 after the abrupt resignation of Urjit Patel. Notable challenges included the crises involving Yes Bank, Lakshmi Vilas Bank, and PMC Bank.

Despite critics blaming the RBI for the chaos surrounding these banks, Das’s leadership saw the regulator addressing each issue with tailored solutions rather than a one-size-fits-all approach.

During the pandemic, the decision to inject Rs 17 lakh crore in liquidity, with a sunset clause for withdrawal after three years, was executed seamlessly, preventing any major economic disruptions.Leaving past challenges behind, Das has successfully managed to control retail inflation, drive economic growth, maintain currency stability, and manage interest rates through a tight monetary policy. Striking a balance between inflation control and economic growth, the RBI under Das raised rates by 250 basis points, compared to 500 bps by the US Federal Reserve, ensuring both inflation control and continued growth.

Ensuring a stable currency relative to most developed nations, Das elevated governance and compliance standards for banks, increasing risk weightage and additional provisions through a counter-cyclical approach. Despite the inflation-growth dilemma, Das has kept RBI’s focus on developmental issues, with a particular emphasis on digital payments.

Congratulating Das on his achievement for the second consecutive year, Prime Minister Narendra Modi said on social media, “This is a recognition of his leadership at the RBI and his work towards ensuring economic growth and stability.”

Before assuming charge as the 25th Governor of RBI in December 2018, Das was a member of the 15th Finance Commission and India’s G20 Sherpa. With nearly four decades of experience in various areas of governance, he has held several key positions in finance, taxation, industries, and infrastructure. Das played a pivotal role in negotiating the GST framework, including the five-year compensation plan for states, and devised the constitutional amendment for its implementation. He also played a crucial role in negotiating tax evader information sharing with the Swiss government, drafting the Insolvency & Bankruptcy Code, outlining the Fugitive Economic Offenders Bill, and formulating laws on overseas black money.

Having worked under three different finance ministers—Pranab Mukherjee, P. Chidambaram, and Arun Jaitley—Das was directly involved in preparing eight Union Budgets and served as India’s alternate governor in the World Bank, Asian Development Bank, New Development Bank, and Asian Infrastructure Investment Bank.



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