Raksha Bandhan 2023: Financial Gifts To Strengthen Bond With Your Sister

Raksha Bandhan 2023: The festival of Raksha Bandhan celebrates the cherished bond between brothers and sisters. A tradition that’s uniquely Indian, it’s a time of reaffirming the love that binds siblings together. Beyond the traditional exchange of money, a trend gaining momentum is the gesture of giving financial gifts to one’s sister. This innovative approach not only showcases consideration for their future but also underscores the importance of thoughtful, meaningful presents.

A New Age of Gifting: Beyond Trinkets to Financial Security

Raksha Bandhan has long been synonymous with beautifully adorned threads, sweets, and mementos. However, a significant shift is occurring as brothers recognize the practicality of financial gifts. These gifts are not just about monetary value; they symbolise a brother’s commitment to his sister’s well-being and aspirations and his commitment to her financial well-being for her future.

Wide Array of Choices: Navigating the Financial Gift Landscape

Today, there exists a wide array of financial gift options. These are diverse, catering to various preferences and circumstances.

Some of the most ideal gift options gifts are:

1. SIP Together:

Starting a Mutual Fund SIP together. Get a SIP started with monthly contributions credited to Sister’s account regularly. A sure way to get her to remember her brother’s long-term commitment each month.

2. Golden Bonds:

Get her to subscribe to a Gold Sovereign Bond, or an SIP into a Gold Savings Mutual Fund. Gold that grows and does not need any locker!

3. Provident Funds:

Start a PPF for her and show her the power of Long-term Retirement Planning.

4. Love Deposit:

Place a Fixed Deposit in a bank or a AAA rated corporate for any emergency needs that she may have.

5. Open to Stock Market:

Open a Demat Account and gift an ETF to start with.

6. Personal Insurance:

Give that secure arm around her all across by ensuring no financial harm comes to her in times of need. Plan and get her first cover for Health, Accident and Life.

7. Mahila Samman Saving Certificate

Mahila Samman Saving Certificate through the nearest Post Office at an interest rate of 7.5% p.a. for 2 years for a maximum of 2 lakhs, with no TDS.

But its not all about just money when it comes to Financial Gifting.

Empowerment through Financial Literacy

Beyond the immediate monetary impact, these gifts often carry an invaluable lesson in financial literacy. By introducing your sister to the world of investing and saving, brothers are not only demonstrating care but also imparting skills for a secure financial future.

A Token of Independence: Enabling Dreams

Such forward-looking gifts resonate with the evolving roles of women in Indian society. Sisters are increasingly pursuing careers and dreams, and these financial presents offer a stepping stone towards realising their ambitions.

Conversations that Matter: Embracing Open Dialogue

The trend also encourages meaningful conversations around financial planning within families. Brothers and sisters are openly discussing goals, aspirations, and strategies for achieving them, fostering a culture of shared responsibilities.

Personalising the Gift: Adding Emotional Value

While financial gifts showcase pragmatism, adding a personalised touch can elevate the emotional value. A heartfelt note accompanying the gift can express sentiments that words alone might not convey.

A Celebratory Blend: Balancing Tradition and Modernity

The emergence of financial gifts doesn’t diminish the significance of traditional tokens exchanged during Raksha Bandhan. Rather, it adds a new layer of depth to the celebration, blending time-honoured rituals with contemporary sensibilities.

As Raksha Bandhan approaches, brothers across the country are embracing the concept of financial gifting, redefining the festival’s essence of love, care, and protection. This trend embodies the spirit of evolving relationships, bridging the gap between tradition and modernity while strengthening sibling bonds through meaningful gestures that endure far beyond the festivities.

-The author is General Manager and Head – Distribution, Sundaram Finance Limited. Views expressed are personal.