FLAME Newsletter - October 23, 2013


"We have to give savers a good deal, be it outside savers or domestic savers. That match between savings and investment has to come about" - Raghuram Rajan, Governor, Reserve Bank of India


This Diwali, do illuminate the light of financial freedom 
The time of Diwali is one of the most festive and beautiful times of the year. Diwali is that time of the year when everyone wants to buy new clothes, gold ornaments, gadgets, electronic appliances and several other items. All of us spent ample money during this festive season. 

Diwali is an ancient Hindu festival celebrating the triumph of light over darkness and the renewal of life. Diwali literally means a "Row of Lights". Families light lamps, candles and fireworks to symbolise the triumph of light over darkness, and good over evil. This Diwali let us also illuminate the light of financial freedom to live a financially secure life for years to come. The below article highlights the four personal finance essentials to be done in auspicious festival... Read more

Things you should do this Diwali
The much awaited festival of lights 'Diwali' has arrived. The most common things which people do during this festive season is spend money lavishly, burst firecrackers, catch up with friends, gamble or drink the whole night among others. Diwali can be a lot more memorable provided you spend the festival in its true spirit. After all, Diwali comes only once every year, which is exactly why you should go a little out of your way to make it unforgettable.

Diwali is the time when you need to buy a lot of things for your family members and relatives. You want to buy clothes, accessories, jewellery, sweets, etc for them. Hence, make a lists of items which you need to buy. It is advisable to avoid unnecessary or lavish items. Money can be saved if you plan your expenses well in advance. Try to make limited number of shopping trips... Read more 

Ways to save during Diwali

The festival of lights, along with all the festivities, brings with it a lot of expenditure. Since it is an auspicious occasion, everyone wishes to buy new things for their house, gift their loved ones, splurge on sweets, crackers and just about everything that brings joy. While it may not be possible to not spend during Diwali, let us help you with some ways to at least limit the expenditure.

Go Homemade

One should make sweets at home since it comprises a big part of the total expenditure during Diwali. Not only will you save money, but homemade sweets would also be healthy. Similarly, if you are creative and an expert in handicrafts, you can make gifts for your relatives at your home. This will not only save your money, but will also add a personal touch to the gifts... Read more


What is Samvat 2070?

While the most common calendar used throughout the world is the English calendar or the Georgian calendar, in India, the Hindus follow the Vikrami Samvat calendar. According to the calendar, this year (2013) is Samvat 2070.


Muhurat trading

Muhurat trading is the stock market trading activity which happens for about an hour on the Diwali day. Usually, this trading session is held in the evening. It is a symbolic ritual which has been performed for years and investors make some token purchases on this day.



FLAME (Financial Literacy Agenda for Mass Empowerment) is an IIFL initiative to promote financial literacy amongst the masses in order to make them an integral part of India’s spectacular growth story.

In an era of accelerating GDP and rising per capita growth, financial literacy has become more critical than ever before such that we all reap the tangible benefits of the nation’s economic prosperity. Financial inclusion has been quite high on the governmental agenda, given its emphasis on widening the Banking & Financial services network across the country. IIFL’s FLAME initiative stands committed to complement this effort by helping common people gain financial growth and security though better awareness and education on the variety of financial products while avoiding the lure of and loss from unrealistic claims made by unscrupulous agents and ponzi schemes.

Our objective is to light a FLAME, as the name suggests, which will set ablaze a chain of FLAMEs across the country. The new-found light of knowledge will undoubtedly dispel the dark clouds of financial illiteracy and ensure the bright sunshine of financial growth and prosperity.

This portal is but one of the various IIFL initiatives that would be part of FLAME.

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