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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.)

The Judge and the Darkness

Dec 24, 2025
5 min read

The assassination of Judge Giovanni Falcone more than three decades ago laid bare Italy’s long war with the Mafia and the cost of defying it.

Capaci, Sicily, the site of the A29 bombing that killed him in 1992.
Capaci, Sicily, the site of the A29 bombing that killed him in 1992.
Giovanni Falcone
Giovanni Falcone

At precisely 5.56 pm on May 23, 1992, thirteen drums of TNT and Semtex placed in a culvert on the A29 – the autostrada leading from Palermo Airport to Palermo, Sicily – and near to the small town of Capaci were detonated. The explosion was so massive that it registered 50 miles away at the Geophysical Observatory in Agrigento on Sicily’s southern coast. The explosion engulfed a three-car convoy heading toward Palermo. Three police officers in the first car died instantly. Two of the occupants of the second car, anti-Mafia judge Giovanni Falcone and his wife Francesca, survived only long enough to reach hospital. It is said that Totò Riina, head of the Cosa Nostra, the Sicilian Mafia, toasted Falcone’s death with champagne. Falcone’s last words, spoken to a fireman before being placed into an ambulance, were, ‘If I survive, this time I will make them pay…’


Astonishingly, it was not until the 1970s, a hundred years or so since Italy’s inception in 1861, that people in Italy began to really understand what the Mafia was – after a hundred years of cover-ups, dismissals of evidence, and wilful forgetfulness. It was not even known then that the Sicilian Mafia referred to itself as the Cosa Nostra. It took the long decade of violence from 1979 until 1992 for Italy’s Supreme Court to convince itself that the Sicilian Mafia was not just a hodgepodge of local thugs and gangsters, but was indeed a criminal organisation – a secret society. This put an end to perhaps the Sicilian Mafia’s most long-lasting crime: the claim that it did not even exist.


Giovanni Falcone was born in Palermo on May 20, 1939. Moments after his birth a white dove flew into the apartment and stayed until it was fed – a strange event which lingered long in the memory of the family. His parents were strict, instilling in him not only the importance of hard work but that of bravery and patriotism too. His mother expected him to lead a ‘heroic life.’ Growing up he was well aware of, and sickened by, the violence of the Sicilian Mafia, seeing it for the social disease it was. He was also aware of the institutional culture that ignored its very existence. Wanting to study at the Naval Academy, his father put him down for law school instead, fearing his son’s independent spirit would not do well in the Navy. Falcone became a magistrate in 1964. After choosing to specialise in criminal law, he became a prosecutor in Trapani. It was there, at the age of 28, that Falcone received his first death threat from the Mafia. He ignored it.


Judicial War

After working for the Bankruptcy Court, Falcone was recruited by the anti-Mafia team at the Prosecution Office in Palermo. The skills he had learned in chasing money trails would come in very handy. But he had joined the team at a very dangerous time. By the early 1980s, Totò Riina of the Corleonisi Mafia clan had eliminated all his rivals and taken control of the Sicilian Mafia. The old, low-profile Mafia was to be no more. Both brutal and cunning, to further his aims Riina decided to take on the Italian state. Judge Cesare Terranova, who was meant to head the Prosecution Office, was murdered in 1979. Rocco Chinnici, who actually got the job and who recruited Falcone, would be murdered in 1983. Afraid for his safety, Falcone’s sister Maria asked, ‘Why?’ Falcone replied, ‘Because you only live once.’


It was not just Mafia violence that Italy had been afflicted with. During the 1970s, the ‘Years of Lead’, Italy had had to contend with both left-wing and right-wing terrorism. And it was a law enacted in 1980 to combat this terrorism, awarding reduced sentences to those willing to inform on fellow terrorists, that Falcone would use to such devastating effect against the Mafia. A formidable interrogator, the testimony that Falcone received from Tommaso Buscetta, the first Mafia boss to turn informant, led to Falcone first major success. This was the ‘Maxi Trial’ (1986-87) of 475 alleged mafiosi, 360 of whom were convicted of serious crimes. The Mafia would never forgive Falcone. Indeed, it was after the Italian Supreme Court upheld these convictions in 1992 that Totò Riina ordered Falcone’s assassination.


There was a crucial difference, however, between terrorism and Mafia crime: terrorism lay outside of the state, whereas the Mafia operated both outside and inside. Falcone received ‘push back’ for his success not only from corrupt politicians but also from fellow members of the Prosecution Office. Even the Catholic Church, in the figure of Cardinal Pappalardo, who had spoken out against Mafia violence in the past, expressed concern about the Maxi Trial – the Church not yet then ready to condemn the Mafia wholesale and make a stand for the rule of law.


Tired of the difficult political situation in Palermo, in 1991 Falcone accepted a post in the Ministry of Justice in Rome.


Here, he would become even more effective against the Mafia, helping to restructure the Italian prosecution system, creating district offices to take the fight to the Mafia and a national office to focus on organised crime. But the Mafia were well aware that he returned home to Palermo every week. Falcone was just 53 years old when the bomb exploded on the A29 and took his life.


Unfinished Battle

Two months later, Falcone’s best friend, Paolo Borsellino, also an anti-Mafia judge, who had just spoken out against alleged Mafia links to rich Italian businessmen such as Silvio Burlesconi, was also assassinated. The public in Sicily had had enough. The outcry was such that the authorities were forced to take action, the era of secret dialogues with the Mafia, the compromises, the collusion, over forever. Or was it?


Totò Riina was arrested in 1993, dying in prison in 2017. Giovanni Brusca ‘The Executioner’, who had detonated the bomb that had killed Falcone, was arrested in 1996 and turned informer. But Judge Paolo Borsellino’s red diary containing his most secret notes went missing, and, oddly, Totò Riina’s villa was left unguarded after his arrest, with compromising documents going missing. Information has also since come to light regarding secret negotiations between the Mafia and politicians during the 1990s to reduce the violence, the Mafia choosing to return to its historical low profile after the madness of the Totò Riina years.


Statues of Giovanni Falcone were erected all over Italy, and politicians made very fine speeches in Sicily and elsewhere to his memory. But the Mafia is very much still active in Italy and internationally. The work of his brave judicial successors continues. Of the three Italian Mafias – the Sicilian Cosa Nostra, the Camorra of Naples, and the ‘Ndrangheta of Calabria – it is the ‘Ndrangheta who were least affected by the crackdown of the 1990s, and who remain the most mysterious and powerful organised crime group in the world.


Seven months before his death, Falcone wrote, ‘There is no doubt we will have to fight the Mafia for a long time to come. For a long time but not for eternity: because the Mafia is a human phenomenon, and like all such human phenomena it has a beginning, an evolution, and will also therefore have an end.’


(The author is a novelist and retired investigator with an abiding passion for crime fiction and Chinese history. He is the creator of the Magistrate Zhu mysteries.)

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