Raksha Bandhan: List of monetary presents you can provide your sister this Rakhi

Raksha Bandhan holds a major place in India. This cherished event entails sisters tying ‘Rakhis’, a sacred thread round their brothers’ wrists, and so they in flip generously bathe their sisters with presents, starting from money,  equipment, jewellery, smartphones, cosmetics, garments, and the checklist goes on and on. While gift-giving is a customary a part of Raksha Bandhan, let’s discover an array of monetary items that may be gifted to sisters, making certain their monetary safety and prosperity this yr. 

List of Financial presents you can provide your sister this Rakhi1)Systematic Investment Plan (SIP)

SIPs present an environment friendly approach to spend money on Mutual Funds systematically. “SIPs are a strong software for attaining monetary objectives enabling brothers to contribute to their sisters’ aspirations, be it journey, enterprise endeavors, or different ambitions,” mentioned Amit Gupta, MD, SAG Infotech.

Other considerate choices embody acquiring a complete medical insurance coverage. You may also pay a premium for a medical insurance coverage in your sister’s behalf to guard her from uncertainties.

3) Setting up a financial savings checking account or Demat account4) Digital gold

Instead of gifting bodily gold, digital gold is one other choice to present to your sibling.

Investing in paper gold via ETFs or gold financial savings accounts, mentioned Amit Gupta. 

6) Debt devices

According to Gupta, exploring inexperienced Fixed Deposits (FDs) or Recurring Deposits

“These monetary presents not solely maintain the potential to safe sisters’ monetary futures but in addition empower them to make knowledgeable monetary selections,” added Gupta.

7) Stocks

Gifting shares can be a good suggestion. You can present shares of blue chip corporations with long-term funding in focus

Raksha Bandhan is a singular alternative to transcend conventional presents and current sisters with choices that resonate on a long-term, sensible stage. By contemplating monetary presents that vary from SIPs to medical insurance coverage, brothers can foster their sisters’ monetary independence and safety.  

When is Raksha Bandhan? August 30 or 31? Timings, Shubh muhurat right here

As siblings gear as much as have fun the distinctive bonding of the brother-sister pageant Raksha Bandhan 2023, there’s confusion across the date and timing of the identical.

According to Drik Panchang, Rakhi falls on August 30. However, due to Bhadra Kaal, you may as well tie Rakhi on August 31. This yr, the Raksha Bandhan Bhadra Poonch will final from 5:30 pm to six:31 pm on August 30, and the Raksha Bandhan Bhadra Mukha will start at 6:31 pm and finish at 8:11 pm on August 30. Therefore, the Raksha Bandhan Bhadra finish time shall be at 9:01 pm.

Disclaimer: The views and suggestions made above are these of particular person analysts, and never of Mint. We advise traders to examine with licensed consultants earlier than taking any funding selections.

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Updated: 23 Aug 2023, 02:23 PM IST