Datanomics: SC judges favour safe financial bets, ministers chase risks

SC judges disclose majority of financial assets in bank deposits and provident funds, contrasting sharply with ministers' high exposure to stocks and mutual funds

 

Are judges of the Supreme Court more circumspect than Cabinet ministers when it comes to financial investment? Well, data suggests so.

 

A recent financial disclosure by the apex court judges revealed striking differences between their financial investment preferences and that of Union ministers.

 

Based on data analysed by Business Standard, SC judges tend to favour safer, low-risk instruments, while ministers display a larger appetite for market-based assets.

 

Cabinet ministers, barring one, collectively declared financial assets worth ₹206.02 crore.

 

Of this, a massive 72.36 per cent-- or nearly ₹149 crore-- is invested in shares and mutual funds, indicating high exposure to market fluctuations. Bank deposits, including fixed ones, account for another 25.83 per cent (₹53.2 crore).

 

In stark contrast, the 19 Supreme Court judges, who provided disaggregated data, reported total financial assets of ₹128.5 crore, with 67.07 per cent (₹86.19 crore) held in bank deposits such as savings and fixed one and 19.8 per cent (₹25.44 crore) in provident fund schemes like public provident fund and general provident fund.

 

Just 13.13 per cent (₹16.87 crore) is invested in shares and mutual funds.

 

As many as 21 out of 33 sitting SC judges disclosed asset details.

 

However, many did not assign a monetary value to their immovable assets, such as residential property or land, making a full wealth comparison difficult.

 

Despite this, their filings revealed a generally conservative financial ethos, emphasising stability and long-term savings.

 

Outgoing Chief Justice of India Sanjiv Khanna -- retiring on May 13-- holds fixed deposits worth ₹55.75 lakh.

 

He owns multiple properties, including a three-bedroom DDA flat in South Delhi, a 2,446 sq ft four-bedroom apartment in the Commonwealth Games Village, and a 56 per cent stake in a four-bedroom flat in Gurugram. He also has a share in property and land in Dalhousie, Himachal Pradesh.

 

On the other hand, Prime Minister Narendra Modi’s latest disclosure shows total assets worth ₹2.98 crore. His portfolio includes bank deposits, life insurance, jewellery, reflecting a relatively restrained financial profile compared to some of his cabinet colleagues. He does not own any property.