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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Fast Today, Prosper Tomorrow

AI Generated Image Navratri is a time when devotion, self-control, and celebration come together. For nine days, people across the country observe fasting, prayers, and rituals with discipline and faith. But beyond the spiritual significance, Navratri also carries valuable lessons for our financial lives - especially in how fasting and sacrifice mirror the principles of investing. Fasting as discipline When we fast, we consciously give up indulgence. It is not just about avoiding food; it...

Fast Today, Prosper Tomorrow

AI Generated Image Navratri is a time when devotion, self-control, and celebration come together. For nine days, people across the country observe fasting, prayers, and rituals with discipline and faith. But beyond the spiritual significance, Navratri also carries valuable lessons for our financial lives - especially in how fasting and sacrifice mirror the principles of investing. Fasting as discipline When we fast, we consciously give up indulgence. It is not just about avoiding food; it is also about training the mind and body to resist temptation. The same applies to investing. In a world full of instant gratification, whether it is the latest gadget, a fancy car, an expensive lifestyle or a luxury holiday, real wealth creation requires the discipline to sometimes say, “not now.” Just as fasting strengthens willpower, disciplined investing strengthens our financial health. Sacrifice for a greater good Navratri fasting involves small sacrifices today for spiritual growth tomorrow. In investing too, we often have to sacrifice some short-term pleasures to secure long-term prosperity. Choosing to invest a bonus instead of spending it entirely, or increasing SIPs using a portion of every salary increment instead of allocating the entire increase towards expenses and new liabilities, may feel like a sacrifice initially. But these small decisions, repeated over many years, can accumulate into significant future wealth and financial security. This is the very essence of delayed gratification. Patience and consistency Navratri fasting is not observed for just one day. The discipline continues throughout the nine days. Similarly, investing is not about one lucky trade or one successful investment. Wealth creation requires staying the course month after month and year after year through regular investing, sensible asset allocation and the power of compounding. There will inevitably be periods when markets test our patience. But just as discipline during Navratri is maintained throughout the festival, financial discipline must continue through both good and difficult market conditions. Balance and moderation Fasting during Navratri is not about starving. It is about moderation, restraint and mindful eating. Investing too should not be about extremes, neither reckless risk-taking nor excessive conservatism. A well-planned portfolio spread appropriately across assets such as equity, debt and gold can provide both growth and stability. Just as moderation keeps the body healthy, balance helps keep our finances resilient. The bigger picture Ultimately, Navratri fasting is also about purification of the body, mind and soul. Investing, in its own way, requires purification of financial habits: moving away from impulsive spending, unnecessary liabilities and short-term thinking towards purposeful saving and wealth creation. This Navratri, as you observe your fast with devotion and discipline, also resolve to bring the same qualities into your financial life. After all, both fasting and investing ask us to give up a little today in pursuit of something greater tomorrow. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Tushar Gandhi, others detained in Mumbai

Quaid Najmi
3 hours ago
2 min read

Security tightened across the city amid protests

Mumbai: Moving swiftly, ahead of a proposed protest in August Kranti Maidan, the Mumbai Police on Saturday picked up and detained Tushar Gandhi, the great-grandson of Mahatma Gandhi and several of his associates, actor Imran Khan, besides scores of students, youth and other activists from different parts of the city.


Gandhi was finally released late on Saturday with Opposition parties calling off their protest.


The abrupt detentions were greeted with strong reactions, demonstrations and a sit-in protest by Opposition leaders outside the D. N. Nagar Police Station.


Gandhi, President of NGO, Hum Bharat Ke Log, and his colleagues Feroze Mithiborwala, S. L. Guddi and others were proceeding to the historic ground in south Mumbai for a protest in solidarity with the Cockroach Janta Party (CJP)’s agitation in New Delhi seeking the removal or resignation of Chief Election Commissioner Gyanesh Kumar.


As Gandhi was en route to south Mumbai, he was stopped by a police posse near the National College junction in Khar west and told not to go for the protest. When Gandhi refused to relent, he was not allowed to proceed further and packed off in a police car. He was taken to the D. N. Nagar Police Station in Andheri west, but later, local political leaders said “his whereabouts are unknown”.


Mithiborwala was detained at his Andheri east residence and taken to the MIDC Police Station, while Guddi was picked up from Andheri and shifted to the Andheri Police Station. These detentions came hours before the planned 3.30 pm protest at August Kranti Maidan - the same venue from where the Quit India Movement was launched in August 1942.


Gandhi’s daughter, Kasturi, several Shiv Sena (UBT) youth leaders like Varun Sardesai and other activists were also whisked off in police cars from the Maidan this evening.


Meanwhile, students, young people and activists attempting to reach August Kranti Maidan were stopped and taken away in police vans from Charni Road, Dadar and other locations.


Gandhi appealed to supporters to continue with the protest, underscoring the organisers’ determination to demonstrate solidarity with the Delhi agitation.


No police permission

Justifying the large number of detentions and rounding up of the protestors, the Mumbai Police claimed that the proposed gathering was illegal. Local Deputy Commissioner of Police Ragasudha R. said no application for permission had been submitted to the Gamdevi Police Station.


Another senior police official claimed that August Kranti Maidan is a historic site under the Archaeological Survey of India (AIS) and not a designated venue for demonstrations, hence no protests can be allowed there.Guddi, however, questioned the police version, contending that she had emailed the concerned authorities seeking permission — as Gandhi was out of station — but had received no response.


The police said the series of preventive detentions in the city were to safeguard law and order. Gandhi, meanwhile, claimed on X that he had been arrested and taken to an unknown location.

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