The Inside Story of Indian Banking by Sandip Sen

We used to use as much jargon as possible during MBA GD/PI. But once we landed in our jobs, we were faced with the actual implementation of those jargons. I feel the field or domain having maximum jargon must be the banking and financial domain, every year governing bodies introduce multiple laws and new jargons to follow. 

In India no matter from which age group you belong, you must have heard at least one scam in this domain every five years. With so many rules and regulations, with so many audits to follow, and even with such a digitized state how people are still fooling around authorities. It is a big question. I had many such doubts when I picked up this book.

If you are not aware of the history of Indian banking, then how you can judge current regulations. To bring you to the same level, the author has started with all basic details on how banking started in India. Then the author takes us to a post-independence era where banks started facing real problems, following which nationalization came. The author has properly covered those details. Then comes post-1991 liberalization, and the country started getting competent banks from private sectors. Through this author has covered many big scams and how they happened. The last segment of the book covers the solution accumulated by the author from his experience and experiences of various stalwarts of the domain.

My observations

1) Though the book is non-fiction the writing style makes you feel it like a fiction one

2) There was an order in which content is prepared and that can keep readers interest intact

3) Author has made all efforts to keep the book less academic and keep it reader-friendly (not student-friendly)

4) Language and wording are easy and smooth. One can finish this book in 3-4 sittings. 

5) Minimum use of jargons and if they are used, they are explained in layman's terms.

Overall a good attempt to bring facts of the financial domain. I will give 3.75 out of 5 to this book.

Book links - Amazon & Goodreads

Book Review - Smart money Moves by Vinod Desai

I selected "Smart money Moves" by Vinod Desai because of the subtitle "For Grown-Ups a.k.a. Kids with money". I have read fewer books in self/personal finance genre books. Reading books in personal finance is like adding actual knowledge about your better future. So I was damn serious while reading this book. I have noted down few important tips as well.

Talking about the content, the author has started with breaking a few misbeliefs in the Indian context. It is always assumed in India that security is everything. So when it comes to financing the first option people go for is Fixed Deposit. And when it comes to policy in India, LIC is synonymous with policy. Still, the majority chunk of Indians believes whatever LIC gives in return is a blessing. People simply calculate what they gave and if the return is slightly more they are happy. They don't know how much it would have been if they had invested properly. Later on, the author has explained various ways that a normal person can take for better savings. It is like "the more you bleed in peace the less you sweat in war". It's better to start planning at a younger age then afterward. As money only understands compounding. In the shorter run, we only get the principal back. If we want an actual income longer run is the only option.

Good points about the book

• The author has avoided extreme mathematics. I have read a few books on personal investment and they were so full of equations that layman may find it difficult to grasp. But this book is low on equation and more on practicality
• Use of simple examples to explain concepts. The author has avoided using plain theories. He has given ample example of how to persons made or lost money by investing or not investing in a particular instrument
• A simple explanation of complex investment products

A good guide for salaried & small-time investors. I will give 4.5/5 for this wonderful guide.

Book links Amazon & Goodreads

Mutual Fund Investment by Salaried Investors: Identifying the Determinants

I do trading as well as investment in various mutual funds but usually I see risk (volatility) and 3 years return for investment. Never did I thought how volatility derived or how to see beyond 3 years return. But the recent issues arose in MF markets where the most secured considered category defaulted, I thought of going through detailed understanding of the backside scene. Being a salaried person I wanted to best utilise whatever small portion of amount I am investing in MF be it SIP or lumpsum. For the same purpose, I selected "Mutual Fund Investment by Salaried Investors: Identifying the Determinants" along with another book. 

Book Blurb

“Mutual fund investment by salaried investors: Identifying the determinants” is a book which attempts to throw light upon the determinants of mutual fund investment among the salaried investors. It is well-known fact that salaried class in India posses some unique characteristics which place them in a different category than that of other investors. This book address the issues directly associated with the salaried investors. Of late, a lot of research work is going on in the field of behavioural finance. This book is simply an extension of the work in the field of behavioural finance especially the areas which deal with respect to investment in mutual fund.

Studies in the area of behavioural finance especially related to the mutual fund investment, is gaining momentum in India and hence teaching, and research in this field is also increasing. There is dearth of good book on this issue. This book is expected to fill up that gap. The book is expected to make the lives of teachers, students, and researchers relatively easier. The knowledge received from this book will go a long way in shaping the future of education of behavioural finance in India.

This book was selected in the second position because of the serious look it has. Unlike the normal book, this one was designed more like an academic book. Content-wise book is proper technical with its detailed narrations. Starting with normal ROI to complex methods to analyze fund, the author has given with mathematical formula. I won't lie, but it took me a month to read this book. I also took the help of my CA friend for some concepts.

I would say the book is a technical one, and a normal person may need to give efforts to understand it. Language is academic and use of algebra and maths make is a serious read. You cannot just read it casually. I suggest take a pen & paper or excel sheet if you want to understand it.

Rating wise I am giving 3 out of 5 to this book.

Book Review - Wise Investments : A Simple Guide by Dr. S. Thirumalai Kolundu

Book Blurb

Recently, when I was going for a walk along with two paediatricians, I asked them a million dollar question that was lingering in my mind for a very long time. That question was, “What is the ideal age for retirement for consultants like us?” After a long pause, one of them answered, “It is not possible for us to retire as we don’t know anything else other than our profession.” Yes, in one way it is true but there is one more thing to be considered. Even after entering my sixties, I am not sure whether I have attained financial independence so that I can retire happily.

This book is a small endeavour to make common man understand the basics of finance to invest intelligently in an innovative way and to take steps to achieve financial independence at an earlier age to lead a happy retired life.

"Personal Finance" A very critical part of each one of life. A must-know thing in life for betterment and comfort life. Many people find it very tough while deciding about their finances. Because one has to acquire knowledge in many aspects like taxation, traditional investments, equities, insurances, etc. Personal finance is a subject which requires planning of finance for every situation of life's finance requirement like an emergency fund, insurance, investments instruments, retirement planning, etc,

"Wise Investment" is one of the books which one may read to acquire enough knowledge for starting their finances. The writer has written a book in so simple language that anyone can understand the concepts of finance so easily. This book is for every person who has started their financial planning. 

After reading this book one will find all the answers for personal finance related questions like where to invest? What are the investment options? Why finance planning required? When should start finance planing? And many more questions come to our mind.

In the book, one will find a very good example of the importance of investment in early age. It impacts a lot if you delay in your financial planning. One who starts early investing at an early age has quite advantageous over who delays it. It has shown what factors are important for financial planning.

This book has covered the detail of shares like what is it? How one can invest? What are government regulatory bodies to monitor and control it? What is their tax calculation what is short term capital gain? What is long term capital gain? The expected return and risk in this investment type has very well explained.

It has explained mutual fund in very much depth. The type of mutual funds with the type of return they give and risk involved in it. How taxation applies in a different type of mutual fund investments. Also shared which type of mutual fund is good for different age of people. other instruments for investment like PF, PPF, FD, Post office NSC, Gold, their ROI and their tax applicable on it. In personal finance, insurance has a major role. Health insurance life insurance, term insurance and other different types of insurance policies their tax benefits and why it is must plan for it as well. The writer suggests one should plan for their retirement planning as well to live the same lifestyle without earning one has to plan it very carefully.

In overall I find this book very much helpful for planning my finances for betterment of my lifestyle, planing for my children education marriage, My retirement planning, planning for the security of my family by buying health insurance term insurance.

Although I would also share there is a printing mistake from chapter 14 where one has to read from the last page in a backward fashion. But it is ignorable in front of the knowledge which helps us in our future.

Book can be found at Amazon & Flipkart

Review from other readers can be found at GoodReads