In a man’s world, all you need to succeed is consistency towards your financial goal: Reshma Banda, Bajaj Allianz Life

“When I started out in the markets 20 years back, it was a different space altogether. I have witnessed the market through the dot com bubble phase, then the 9/11 attacks, and more, and importantly, seen their subsequent, adverse impacts on the stock markets globally, as they took a real beating and touched historic lows,” says Reshma Banda, who currently heads the Equity & EVP Investments at Bajaj Allianz Life.

Banda has undoubtedly had a prolific run in the Indian financial markets, having seen most of what the markets have to offer. However, even after all this time, she still believes that it “is a man’s world out there, and it does get lonely on the job”.

But she is very quick to dispel this glum reality, instead, putting into perspective how one should channel their passion for the work in this break-neck competitive space and not simply and consistently dwell on the gender-specific disadvantages the financial domain conventionally puts forth for women.

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“I always knew what I wanted to do. I was very enthusiastic about working in the equity markets right after I completed my education and indeed, was fortunate enough to have done so. I believe that you need to know what you want to achieve and whole-heartedly focus on the same. And as long as you have visibility and consistency on that, you will certainly achieve whatever you want,” she highlighted.

Banda also remembers how a beaten and trodden global stock market that offered extremely low-interest rates greeted her just as she had started out, which automatically made her seek asset classes like equities as preferable investment options for generating higher returns, compared to the conventionally preferred financial instruments like Fixed Deposits and more.

“I remember a time when the interest rates had come down very drastically. Like, right around 2004-05, we had seen a sharp, 10-year fall in the interest rates. I also recollect how fixed home loans were being offered for very meager rates. In such a scenario, the interest you would have earned on your savings if you had had simply put them in a bank account would have been next to negligible,” she highlighted.

It was during this time she picked up a few fundamental tenets for defining her personal financial journey as well, something she abides by to this date.

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“Two financial techniques that have worked historically well for me have been my habit of regular savings and keeping a steady stream of investment in equity. I used to practise these whenever my income was credited in the early days, and continue to do so even now. As a thumb rule, I always look to invest in asset classes that deliver inflation-beating returns”, she noted.

Procrastination and blurring the lines between savings and consumptions, she believes, are the eternal enemies of a healthy financial life. While consistency might sound theoretically easy, it is significantly harder to achieve in reality.

Two techniques that work for me are my habit of regular savings and keeping a steady stream of investment in equity.

“I believe everyone needs to understand the ideas of investment and consumption and more importantly, what proportion of one’s income needs to be directed towards both of them. And once that goal is decided, discipline and regularity are absolutely required to meet that. Procrastination of your goal will only delay your progress”, she said, signing off.