Page 6 - Harsh Roongta

Statutory nominations can reduce disputes

The life insurance kind of 'statutory nomination', which confers final ownership on the nominee, is the need of the hour for all assets

To use artificial life support, or not to

Throw in the financial consequences and you know that your loved ones will be under tremendous pressure if they have to make this decision

Action is the best antidote to helplessness

The highest satisfaction has come from using my professional skills to help reconstruct the financial records of a family that lost its breadwinner

KYC norms hindering financial penetration

CKYC is failing to have the desired impact due to lack of clear directions from the regulators, and lack of connectivity between the stakeholders and the repository

Only banks can provide retail push to G-Secs

Retail investors need banks to play the role of market maker, facilitate KYC, and turn G-Sec into an FD-like product from the government

Budget: Trust in financial system will rise if promises implemented well

The writing is on the wall. The next investment product to lose the unwarranted tax exemption will in all likelihood be traditional life insurance products

Make jewellers partners in gold deposit scheme

The number of places where gold can be tendered is limited and the staff there is ill-trained, making the scheme a non-starter

Immobilise unregistered digital lending apps

Forget lack of faith, there is fear of the law enforcement machinery even among educated, sophisticated, middle-class people

Experience is the best antidote to fear

Later, I did the same trek using the same route. The exposed section was still scary, but less so. I felt a sense of achievement on completing it

Outsource asset allocation to a fund

Raising equity allocation when the market is down and reducing it when it is soaring is difficult. Let dynamic asset allocation funds do it for you

Saving face can be an expensive business

Interest waiver relief was a complete waste of taxpayers' money. It only enabled the government to provide the Supreme Court judges a face-saving way out of the mess of their own making

When job loss wrecks your finances

Continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time

Borrowers need fair rates, not just waiver

With portability, a large number of borrowers will move to a 1-2 percentage points lower rate and enjoy handsome savings

Guaranteed loans have multiplier effect

Government guarantee will help and restart businesses which will kickstart the virtuous circle of employment, consumption, and growth

Taxpayers' charter: Expect more fairness

The tax charter has been issued under the newly minted Section 119A of I-T Act. It is no longer an unenforceable administrative promise made by CBDT more as a public-relations exercise

Risk and return: Make the right trade-off

An SIP in an equity fund can reduce the average cost of investing and boost return. But it can't eliminate the risk of loss of principal

Before the Will, prepare for disability

It's important for all heirs to present a united front to give comfort to banks/depository participants

Strategy for meeting goals

Moving money from equity to debt in the last stages of any financial goal ensures that the corpus does not erode suddenly due to a fall in the stock market

Move from debt to equity, but gradually

The only social distancing I am unable to do is give up my morning walks, which is in an open ground

Don't play with debt portfolio

Any investment can be evaluated on the three primary parameters - risk, return and liquidity. These three parameters are inversely linked