Citizens' Issues
Shakti Mills gang rape: Three common convicts sentenced to death
A Mumbai Court sentenced three people to death for gang raping a photo-journalist in a repeat offence in the Shakti Mills complex last August
The Sessions Court in Mumbai on Friday sentenced to death three common convicts in the Shakti Mills gang rape case for repeat offence as per the provision of section 376E under the Indian Penal Code. Siraj Rehman, another accused in the photojournalist rape case was awarded life term. 
Principal Sessions Judge Shalini Phansalkar-Joshi delivered the much-awaited judgment in the case, sentencing Vijay Jadhav (18), Qasim Hafiz Sheikh, alias Qasim Bengali (20), and Salim Ansari (27) to death penalty for repeated offences of gang rape.
Last month, the Court convicted all four accused in the photojournalist gang rape case of 22 August 2013 at the same mill.
The first case pertains to the rape of an 18-year-old telephone operator in the deserted premises of Shakti Mills on 31st July last year. The case came to light after a 23-year-old photojournalist, interning with an English magazine in the city, was gang raped on 22 August 2013 on the same premises.
On 20th March, the court found five persons guilty in both cases and sentenced four of them for rest of their natural life in the telephone operator case.



Dr Anantha K Ramdas

3 years ago

Personally, I feel that executing a monster would mean a few minutes of suffering. What about the excruciating pain that was caused to the suvivor of rape?

These monsters should be punished for a few years in the worst category of rigorous imprisonment before they are hanged till declared dead.

India may not permit this but a public hanging would prevent others from even thinking of such acts in their dreams.

As law abiding citizens we have to follow what our Honourable Court decides. So be it.

Vaibhav Dhoka

3 years ago

For a lesson to be learnt from such harsh punishment quick and ealry execution of order is need.

Financial Products: Do we need so many choices?

There are hundreds of financial products under different asset classes. Do we need all of them? Debashis Basu, editor, Moneylife, at an exclusive Moneylife Foundation seminar explained how to cut out the clutter

Research shows that, the more the choice, the less is our ability to choose. This is why most savers find financial products confusing and difficult to choose. And therefore, they move away from such products and keep their money (to get eaten up by inflation) in the bank. At a Moneylife Foundation seminar which was packed to capacity, Debashis Basu, editor, Moneylife, explained that there are five major asset classes and hundreds of choices under each. However, a saver requires just a few products to meet their needs.

Mr Basu explained that despite huge market volumes, investors continue to shun the equity market. While choices have certainly made our life more interesting, they have not made it easier. In fact, several research studies have shown that our mistakes get compounded when the possibilities of conflict arise among the options; therefore, exercising choice becomes difficult. In the case of financial products, too much choice is definitely harmful.

Many savers are so confused with choice that they prefer to put their money in safe, bank Fixed deposits (FDs). In contrast, when you buy consumer durables, you can see, compare and test; also, a big brand name usually assures one of a quality product; unfortunately, the same cannot be said about financial products. There are too many choices in financial products, many of them are half-baked products and brand names mean nothing, because cases of horrendous mis-selling are seen even among banks which charge a fat premium for their services. Moreover, “one has to choose from 3,000 actively traded stocks, over 700 mutual funds, 344 life insurance products, 145 health insurance products etc. Then, there are portfolio management schemes, bank fixed deposits, bonds, corporate deposits and the list can go on and on” and most of these products are untested, said Mr Basu.

Then, there is false advertising and financially illiterate articles in the media that lead savers the wrong way. The result is wrong and harmful choices. This leads to mental fatigue, wrong decisions and harmful consequences. For example, choosing the wrong insurance product can be disastrous. You may end up with a low cover and low savings. More choices require more information to make informed decisions.

In order to make ‘better’ financial choices, savers approach and need to choose from brokers, financial advisors, financial planners, wealth managers, banks, IFAs etc. What savers do not realise is that, whichever channel they choose, the agent does business through the commissions earned on the choices they offer savers. It is not necessary the choices offered are in the best interest of the saver.

How savers choose is also influenced by what they read and choose to listen to. However, the media is driven by what’s popular and is a prisoner of an advertisement driven system.

Every saver needs to ask themselves a question—“What do I really need?” A saver actually needs less, not more. With fewer options to evaluate, an investor will be a much happier person; they will spend more time with your loved ones and have more money at their disposal which can be used to invest wisely. Thus, one needs to make an effort to choose a few items that suits their profile and their needs. This will increase satisfaction over the long term and lead to less regrets. “All you need is just two-three equity schemes, a few fixed income products, a term life insurance, a health plan and tax-saving instruments. Tune out the rest and you will do much better,” explained Mr Basu. This takes care of 90% of your financial needs for a safe financial life, if you are not focussed on getting the highest return and chasing value.

The effort and the resources required to choose the right product is immense and out of reach for the average saver who is dazed by numbers. Mr Basu also introduced the participants to Moneylife’s new initiative—Moneylife Smart Savers. This service offers selected products which savers would need as per their profile. Those interested can register themselves for free and explore the website.


Sensex, Nifty may move sideways: Weekly Market Report

Both Sensex and Nifty failed to keep the upbeat momentum after reaching new highs on Monday. The weakness may persist next week as well

The BSE 30-share Sensex closed the week that ended on 4th April, at 22,359.50 (up 20 points or 0.09%), while the NSE’s 50-share Nifty closed at 6,694.35 (up 2 points or 0.02%) for the week. The weakness is likely to persist and both Sensex and Nifty may move sideways next week.


Although the market opened upbeat to hit its all time high at the beginning of the session on Monday soon the benchmark lost its momentum and closed marginally higher than last Friday’s closing. Nifty closed at 6,704 (up 8 points or 0.12%). India's fiscal deficit in the first eleven months of the FY 2013-14 touched Rs 5.99 trillion, or 114.3% of the full year target, government data showed on Monday.


On Tuesday, the upmove on the indices almost lost momentum and they closed marginally higher. Nifty closed at 6,721 (up 17 points or 0.25%). For the much awaited Reserve Bank of India (RBI) monetary policy review came out in line with the market anticipation. The repo rate and the cash reserve ratio were left unchanged. On the other hand, the Election Commission allowed RBI to take action on new banking license.


On Wednesday, Nifty moved further higher. Nifty closed at 6,753 (up 32 points or 0.47%). From the US, the positive data helped the indices edge higher. Institute for Supply Management's index rose to 53.7 in March from 53.2 in February.


On Thursday, the 10 days of upmove on the Nifty came to pause when Nifty closed at 6,736 (down 16 points or 0.24%). The Reserve Bank of India (RBI) has decided on Thursday to grant "in-principle" approval to two applicants viz., IDFC and Bandhan Financial Services Private, to set up banks under the Guidelines on Licensing of New Banks in the Private Sector issued on 22 February 2013 (Guidelines).


The US trade deficit unexpectedly widened in February to $42.3 billion, as exports hit a five-month low, suggesting that first-quarter growth could be much weaker than initially expected. Nifty closed at 6,694 (down 42 points or 0.62%) on Friday.


For the week, among the other indices on the NSE, the top two performers were Realty (7%) and Smallcap (6%) while the worst two performers were F M C G (2%) and C P S E (2%).


Among the Nifty stocks, the top five gainers for the week were Jindal Steel & Power (7%); Tata Steel (5%); Hindalco (5%); Cipla (4%) and Sesa Sterlite (4%) while the top five losers were Bhel (8%); Gail (5%); I T C (4%); Tata Power (4%) and B P C L (3%).


Of the 1,425 companies on the NSE, 1,069 companies closed in the green, 326 companies closed in the red while 30 companies closed flat.


Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:


Top ML sector


Worst ML sector








Oil & Gas


Real Estate


Telecom Services






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