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Ramalingam

Ramalingam Kalirajan  |8098 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jun 23, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more
Rahul Question by Rahul on Jun 23, 2024Hindi
Money

Myself and wife have a stock investments which currently valued at 2cr, mutual funds 50L, fd, ppf, gsec, nsc, ncd etc together around 2cr. No loans, debt and own house also. We plan to stop working in next 5 years, currently we are in 41-43 age group. How should the currently porfolio be rebalanced to achieve the retirement target?

Ans: First, I must say you’ve done a commendable job with your investments. At the age of 41-43, you and your wife have built a robust portfolio, valued at Rs 2 crore in stocks, Rs 50 lakh in mutual funds, and Rs 2 crore in fixed deposits (FD), Public Provident Fund (PPF), Government Securities (G-sec), National Savings Certificate (NSC), and Non-Convertible Debentures (NCD). Owning your house outright and having no loans or debt puts you in an excellent financial position.

With plans to retire in the next five years, it’s crucial to reassess and rebalance your portfolio to ensure you achieve your retirement goals. Let’s dive into how we can strategically rebalance your portfolio for a secure and comfortable retirement.

Reviewing Your Investment Goals

Your primary goal is to retire in the next five years. This means we need to focus on capital preservation, income generation, and moderate growth to outpace inflation. Your current portfolio shows a good mix of equities and debt instruments, which is a strong start.

Evaluating Current Portfolio Allocation

1. Stock Investments (Rs 2 crore)

Stocks are high-risk but high-reward investments. With Rs 2 crore in stocks, you have a substantial equity exposure. Equities are excellent for growth but can be volatile, especially as you approach retirement.

2. Mutual Funds (Rs 50 lakh)

Your mutual funds are likely a mix of equity and debt funds. They provide diversification and are actively managed, which is beneficial. Actively managed funds can potentially offer higher returns compared to index funds, as fund managers can make strategic decisions.

3. Fixed Deposits (FD), PPF, G-sec, NSC, NCD (Rs 2 crore)

These instruments offer stability and security. They are low-risk and provide regular income, which is essential for a retirement portfolio.

Strategic Portfolio Rebalancing

1. Reducing Equity Exposure

Given your proximity to retirement, it's wise to gradually reduce your equity exposure. Equities are volatile, and a market downturn just before or during retirement can significantly impact your portfolio. Aim to reduce your stock investments to around 40-50% of your total portfolio.

Action Plan:

Gradually sell off a portion of your stock investments.
Reinvest the proceeds into less volatile, income-generating assets.
2. Increasing Fixed Income Investments

Increasing your allocation to fixed income instruments will provide stability and regular income. Focus on instruments like debt mutual funds, corporate bonds, and more Government Securities (G-secs).

Action Plan:

Increase investments in debt mutual funds which are actively managed for better returns.
Allocate more towards corporate bonds and G-secs for steady income.
3. Balancing Mutual Funds

Your mutual funds should have a mix of equity and debt. Shift a portion of your equity mutual funds into balanced or hybrid funds that invest in both equities and debt. This provides growth potential while reducing risk.

Action Plan:

Evaluate your current mutual funds with a Certified Financial Planner (CFP).
Shift some equity mutual funds to balanced or hybrid funds.
4. Building an Emergency Fund

Ensure you have an emergency fund equivalent to 6-12 months of living expenses. This fund should be easily accessible and invested in highly liquid, low-risk instruments like a savings account or liquid mutual funds.

Action Plan:

Set aside funds for emergencies in a savings account or liquid mutual funds.
5. Planning for Regular Income

In retirement, you’ll need a steady income stream. Consider investing in Senior Citizens Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS), or systematic withdrawal plans (SWPs) from mutual funds. These provide regular income and are relatively low-risk.

Action Plan:

Invest in SCSS and POMIS for secure, regular income.
Set up SWPs from mutual funds for additional income.
Tax Efficiency and Planning

1. Tax-Efficient Investments

Ensure your investments are tax-efficient. Utilize the benefits of instruments like PPF and NPS, which offer tax exemptions. Tax planning is crucial to maximize your post-tax returns, especially during retirement when your income sources change.

Action Plan:

Maximize contributions to PPF and NPS for tax benefits.
Consult with your CFP to optimize your investment portfolio for tax efficiency.
2. Reviewing Insurance Policies

While you did not mention any insurance policies, it's essential to review any existing policies. Ensure you have adequate health insurance and, if necessary, a small life insurance policy to cover any liabilities or to provide for dependents.

Action Plan:

Review and ensure adequate health insurance coverage.
Consider a life insurance policy if needed for dependents.
Regular Financial Reviews

Your financial situation and market conditions will change over time. Regular reviews of your portfolio are crucial to stay on track. Work with your CFP to review your portfolio at least annually. Adjust your investments based on performance, market conditions, and changes in your financial goals.

Action Plan:

Schedule annual reviews with your CFP.
Adjust your portfolio based on professional advice and changing circumstances.
Retirement Lifestyle Planning

Think about your lifestyle post-retirement. Your expenses might change, and it’s essential to plan accordingly. Consider potential travel, hobbies, healthcare costs, and any other significant expenses.

Action Plan:

Estimate your post-retirement expenses with your CFP.
Ensure your investment strategy aligns with your lifestyle goals.
Final Insights

Your current financial position is strong, and with careful planning and strategic rebalancing, achieving a secure and comfortable retirement in the next five years is within reach. Reducing equity exposure, increasing fixed income investments, and ensuring regular income streams are crucial steps. Regular reviews and tax-efficient planning will further bolster your financial health.

Congratulations on building such a solid foundation, and best of luck in your journey towards a well-planned and prosperous retirement!

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |8098 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Aug 14, 2024

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Hello Sir, I am 41 years and earning about 2.5L income post tax and 40K as FD interest per month. I have about 80L in FD, 23L in Mutual funds, 32L in PF, 13L in PPF. I am doing a RD of 1L per month and MF SIP of 75K per month. I have a son who will enter his college in next 5 years. I have 2 flats worth 50L and 90L respectively. My monthly expense today is around 50K. To retire at the age of 51, how should i be rebalancing my portfolio?
Ans: You are 41 years old, earning Rs 2.5 lakh post-tax, with an additional Rs 40,000 monthly interest from FDs. Your assets include Rs 80 lakh in FDs, Rs 23 lakh in mutual funds, Rs 32 lakh in PF, and Rs 13 lakh in PPF. You also have two flats valued at Rs 50 lakh and Rs 90 lakh. Additionally, you contribute Rs 1 lakh per month to an RD and Rs 75,000 per month to SIPs. With a son entering college in five years and a desire to retire at 51, now is the right time to reassess and rebalance your portfolio.

Assessing Your Asset Allocation
Fixed Deposits (FDs): You have Rs 80 lakh in FDs, providing Rs 40,000 per month in interest. FDs are safe, but returns are low compared to inflation. Consider reducing the FD portion as you approach retirement.

Mutual Funds: Rs 23 lakh is invested in mutual funds, which is a good step towards growth. However, ensure these funds are diversified across different asset classes. Review their performance regularly.

Provident Fund (PF) and Public Provident Fund (PPF): With Rs 32 lakh in PF and Rs 13 lakh in PPF, these are long-term, safe investments. They offer tax benefits and steady returns. Continue contributing to PPF, but assess whether additional contributions to PF are necessary.

Recurring Deposit (RD): You are investing Rs 1 lakh monthly in RD. While RDs provide safety, they offer lower returns compared to mutual funds. Consider reallocating some of this towards more growth-oriented investments.

Real Estate: You own two flats worth Rs 50 lakh and Rs 90 lakh, respectively. Real estate offers capital appreciation and rental income. However, it’s illiquid and involves maintenance costs. Evaluate if these properties align with your retirement goals.

Rebalancing Your Portfolio for Retirement
Equity vs. Debt Allocation: At 41, with a retirement goal at 51, it's crucial to balance equity and debt. Consider a 60:40 equity-to-debt ratio. Equity provides growth, while debt ensures stability.

Increase Equity Exposure: Your current SIPs of Rs 75,000 per month should be diversified into different equity mutual funds. Focus on large-cap, mid-cap, and flexi-cap funds to capture growth while managing risk.

Gradual Shift to Debt: As you approach retirement, gradually shift from equity to debt. This will protect your corpus from market volatility. Start increasing your debt exposure five years before retirement.

Review Mutual Fund Selection: Ensure your mutual fund portfolio includes a mix of growth and value funds. Regularly review the performance and make necessary adjustments. Avoid index funds, as actively managed funds have the potential to outperform.

Reduce FD Dependency: FDs are safe but offer lower returns. Consider moving some FD funds to debt mutual funds or balanced funds, which offer better returns with moderate risk.

PPF and PF Contributions: Continue contributing to PPF for tax-free, safe returns. Assess whether additional PF contributions align with your overall portfolio strategy.

Planning for Your Son’s Education
Education Corpus: With your son entering college in five years, start building an education corpus. Allocate a portion of your SIPs towards education-specific mutual funds or balanced funds.

Systematic Withdrawal Plan (SWP): Consider an SWP from your mutual funds to cover education expenses. This will provide a regular income stream without depleting your entire investment.

Retirement Corpus Planning
Estimate Retirement Expenses: With current monthly expenses of Rs 50,000, factor in inflation to estimate future expenses. Your retirement corpus should be sufficient to cover these expenses for at least 25-30 years.

Diversified Income Streams: Post-retirement, aim to have diversified income streams. This could include rental income, SWPs from mutual funds, and interest from debt investments.

Avoid Annuities: Annuities may offer regular income but often have low returns. Instead, consider SWPs or dividend income from mutual funds.

Health and Life Insurance
Health Insurance: Ensure you have adequate health insurance coverage. Medical expenses rise with age, and a comprehensive policy will protect your retirement savings.

Life Insurance: At this stage, life insurance should be focused on covering any remaining liabilities. If your son becomes financially independent, the need for life insurance may decrease.

Estate Planning
Will and Nominees: Ensure you have a will in place. Clearly assign nominees for your investments, bank accounts, and properties. This will ensure a smooth transfer of assets to your heirs.

Power of Attorney: Consider assigning a power of attorney to manage your financial affairs if you are unable to do so.

Finally
At 41, you are in a strong position with diversified assets and steady income. To retire comfortably at 51, focus on rebalancing your portfolio towards a mix of growth and stability. Increase equity exposure now, with a gradual shift to debt as you near retirement. Plan for your son’s education and ensure you have adequate insurance coverage. With careful planning and regular reviews, you can achieve a secure and comfortable retirement.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |8098 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Oct 18, 2024

Asked by Anonymous - Oct 17, 2024Hindi
Money
I’m Kavita from Kochi. I am 45 years old, married with one daughter aged 17. We’ve been investing Rs 60,000 a month in a combination of mutual funds for her education and our retirement. How should I rebalance my portfolio with retirement just 10 years away?
Ans: It's great that you are planning ahead for both your daughter's education and your retirement. With just 10 years left until retirement, it’s essential to ensure that your portfolio is well-structured to meet both short-term and long-term needs.

Assessing Your Current Situation
You invest Rs 60,000 monthly in mutual funds.
You have two key financial goals: your daughter's education and your retirement.
Retirement is 10 years away.
At this stage, balancing growth and safety is important. You want your portfolio to grow, but without excessive risk as you approach retirement.

Evaluating Your Portfolio Allocation
For Your Daughter’s Education
Since your daughter is 17, higher education expenses are likely within the next 1-2 years. The priority for this part of your portfolio should be safety and liquidity.

Shift to Low-Risk Funds: If you are currently invested in equity mutual funds for her education, consider gradually shifting to more conservative options. Equity funds can be volatile, and you don't want her education fund affected by market downturns. Moving towards debt funds or liquid funds will help protect your capital and provide stability.
For Retirement Planning
You have 10 years until retirement, which is enough time to continue benefiting from equity markets. However, a full equity allocation can be risky as you approach retirement.

Balanced Approach: Instead of being fully invested in equities, consider a 60:40 split between equity and debt. This ratio offers both growth and safety. Equities will drive long-term growth, while debt will reduce volatility.

Focus on Large-Cap and Flexi-Cap Funds: These funds tend to be less volatile compared to small-cap or mid-cap funds. Large-cap funds invest in established companies, and flexi-cap funds offer the flexibility to adapt to changing market conditions.

Tax Efficiency
It's essential to manage your investments with tax efficiency in mind. Here’s how taxes will affect your portfolio:

Equity Mutual Funds: Long-term capital gains (LTCG) on equity funds above Rs 1.25 lakh are taxed at 12.5%. Short-term capital gains (STCG) are taxed at 20%.

Debt Mutual Funds: Gains are taxed as per your income tax slab, so be mindful of potential tax liabilities when shifting from equity to debt for safety.

Rebalancing Strategy
1. Immediate Focus: Daughter's Education Fund

Start reducing exposure to equity funds for the portion meant for her education.
Shift 75%-100% of her education fund to debt or liquid funds over the next 6-12 months. This ensures that her education fund is not affected by sudden market drops.
2. Retirement Fund Allocation

Gradually increase your allocation to safer investments over the next 5-7 years.
A good strategy could be reducing equity exposure by 5% every year, so by the time you retire, your portfolio is closer to 40% equity and 60% debt.
3. SIP Adjustments

You are currently investing Rs 60,000 monthly. Consider allocating more towards debt funds as you approach retirement.
For the next 5 years, continue a higher SIP allocation towards equity mutual funds.
After that, start shifting a portion of your SIPs into debt funds to reduce risk.
Emergency Fund
Make sure you maintain an emergency fund that can cover 6-12 months of expenses. This should be kept in highly liquid and low-risk investments such as savings accounts or liquid funds.

Health and Life Insurance
Since retirement is only 10 years away, ensure that you and your family are adequately insured:

Health Insurance: Ensure your health insurance covers both you and your family adequately, especially post-retirement. With rising medical costs, consider a top-up or super top-up plan if your current coverage seems insufficient.

Life Insurance: At 45, you still have a significant earning period ahead of you. Ensure your life insurance policy covers your liabilities and your family’s financial needs in your absence.

Aligning with Retirement Goals
When planning for retirement, the goal is not just to save but to create a steady income stream that can support your lifestyle.

Systematic Withdrawal Plan (SWP): Upon retirement, you could consider setting up an SWP to get a regular monthly income from your mutual funds.

Debt Funds for Retirement Income: Since debt funds are less volatile and provide consistent returns, they can be a reliable source of retirement income.

Final Insights
Prioritize safety for your daughter’s education fund by moving to debt or liquid funds.
Maintain a balanced portfolio with equity and debt for your retirement, shifting more towards debt as retirement nears.
Review your insurance to ensure you have adequate coverage.
Revisit your portfolio annually to adjust as per your changing risk tolerance and market conditions.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

..Read more

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Milind Vadjikar  |1108 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Feb 27, 2025

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Janak

Janak Patel  |21 Answers  |Ask -

MF, PF Expert - Answered on Mar 13, 2025

Asked by Anonymous - Mar 10, 2025Hindi
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Hi, I am 46 years old residing in a B Town in India. I have 2 daughters one 16 years old and second 7 years old. I have Savings of 25 Lakh in my account as emergency find. I have FD of 65 Lakhs. PF, PPF and NPS of 25 Lakhs, Mutual Fund and Shares of 25 Lakhs, Lic policies worth 25 Lakhs, Gold around 1.2 Crores. I have a medical insurance of 20 Lakhs for me and my family, Term insurance of 1Cr. As properties. I own 2 independent houses, 2 flats and 2 plots in Bangalore which has a current value of about 4.5 Cr. In my home town i have 2 Houses, 1 apartment and plots which has a current value of 2.75 Cr. Currently i am drawing a monthly salary of 2 Lakh rupees and get a rent of 30K/ month. I donot have any emi's and my monthly expenses is currently 75K. I am planning to retire at the age of 50. Is my financial condition stable to retire at the age of 50? Thanks for your suggestion in advance.
Ans: Hi,

Lets understand the value of your current Investments at the time of retirement. Below is the list with its current value and (expected rate of return).
Emergency Fund - 25 lakhs (3.5%)
Fixed Deposits - 65 lakhs (7%)
PF/PPF/NPS - 25 lakhs (8%)
MF/Stocks - 25 lakhs (10%)
LIC Policies - 25 lakhs (no change)
Your current investments listed above will achieve a value of 3.5 crore at the time of retirement 4 years from now.

Apart from this you have mentioned properties worth 7.25 Cr. Assuming you will only use/liquidate them if required, so excluding them from consideration for now.

You total income is 2.30 lakhs per month (includes rent) and expenses are 75k per month. So there is potential to add to the above investments for the next 4 years.

I will assume your current expenses are sufficient for the lifestyle you want to continue post retirement.
You will require a corpus on retirement after 4 years to sustain your expenses adjusted with inflation of 6% which will be close to 1 lakh per month (at the time of retirement).
With this starting point, and adjusting for inflation of 6% each year, and life expectancy of 30 years post retirement you need a corpus of approx. 2.5 crore - again assumed this will earn a return of 8% for the 30 years.
If you can invest wisely and generate a slightly higher return of say 10%, the corpus requirement will be 2 crore.

Your current investments at the time of retirement with value of 3.5 crore is sufficient to cover your expenses for the next 30 years inflation adjusted at 6%.
And this is excluding the properties you own and additional investments you can make for the next 4 years.

Summary - You are more than stable as far as your financial state is concerned. You have a strong base to meet your retirement needs and also a potential to create wealth for the generations ahead.

I want to highlight/recommend few points -
1. Increase the medical Insurance for yourself and family to 1Crore as medical expenses will only increase in future.
2. Stop the Term Life Insurance and save the premium for investment. As you have no liabilities and net-worth is high enough to cover any outcomes in life ahead, this premium is a lost cause considering your strong financial state.
3. Revisit the LIC Policies you have and consider surrendering/stopping them if they are not nearing their maturity. They are not giving you enough cover and providing below par returns. So do discuss with a trusted licensed advisor and evaluate them. If they will mature in the next 4 years, ignore this point.
4. Post retirement period is a long duration of 30 years, so do consider getting a good advisor - a Certified Financial Planner who can guide you to plan your retirement well and help you design a portfolio for additional wealth creation as a legacy for your children/dependents.


Thanks & Regards
Janak Patel
Certified Financial Planner.

...Read more

Ramalingam

Ramalingam Kalirajan  |8098 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Mar 13, 2025

Asked by Anonymous - Mar 11, 2025Hindi
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Money
Hi, I have the following funds part of my SIP and the last 4 funds are my one time lump sum of 35K each and invested sometime in November last year. Are these good to hold (lump sum) and rest as SIP for another 5 years. 1 Kotak Flexicap Fund - Reg Gr 2 Kotak Flexicap Fund - Dir Gr 3 Tata Multi Asset Opp Dir Gr 4 TATA Nifty 50 Index Dir Pl 5 Technology Plan - Direct - Growth 6 Bandhan Sterling Value Fund-(Reg PIn) -Gr 7 Nifty Smallcap250 Quality 50 Index Fund - Dir - G 8 | HDFC Dividend Yield Direct Growth 9 Quant Large and Mid Cap Fund Direct Growth 10 Quant Multi Asset Fund Direct Growth 11 Groww Nifty Non Cyclical Consumer Index Fund Direct Growth 12 Motilal Oswal Midcap Fund Direct Growth Thanks in advance for your guidance.
Ans: You have invested in multiple funds through SIP and lump sum. Holding them for the next 5 years is a good approach. However, it is important to check if your portfolio is diversified, aligned with your goals, and tax-efficient.

Overlap Between Funds
Your portfolio has multiple funds from the same category.

Too many similar funds do not improve returns but make tracking difficult.

Checking fund overlap can help avoid duplication.

Actively Managed vs Index Funds
You have index funds in your portfolio.

Index funds do not offer downside protection in market corrections.

Actively managed funds can outperform the index in volatile markets.

Switching from index funds to actively managed funds can improve growth.

Direct vs Regular Funds
You have invested in direct funds.

Direct funds may seem cheaper, but they lack expert guidance.

Investing through an MFD with CFP credentials ensures better selection and tracking.

Regular funds provide better decision-making support over time.

Sector-Specific and Thematic Funds
You hold a technology fund.

Sector funds are high-risk, as they depend on one industry’s performance.

If the sector underperforms, returns may be negative for years.

A diversified approach reduces risk compared to sector-based investing.

Smallcap and Midcap Allocation
You have smallcap and midcap funds.

These funds can be highly volatile in the short term.

Holding them for 5+ years is necessary to reduce risk.

Ensure you rebalance if the portfolio gets too aggressive.

Multi-Asset and Dividend Yield Funds
Multi-asset funds provide stability during market corrections.

Dividend yield funds are suitable for conservative investors.

These funds help in balancing the portfolio between risk and return.

Final Insights
Reduce overlapping funds and focus on fewer, well-performing funds.

Exit index funds and shift to actively managed funds for better growth.

Consider switching from direct funds to regular funds for expert tracking.

Keep sector funds below 10% of your portfolio to avoid concentration risk.

Continue SIPs in high-quality diversified funds for long-term wealth creation.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

Ramalingam

Ramalingam Kalirajan  |8098 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Mar 13, 2025

Listen
Money
Can I run my family with 15 k exp and 20k retirement income
Ans: You have a monthly retirement income of Rs 20,000 and expect monthly expenses of Rs 15,000. On paper, this looks manageable, but there are important financial factors to consider. Let us analyse whether this income will be sufficient for the long term.

Cost of Living and Inflation Impact
Expenses will increase over time due to inflation.

If inflation is 6% per year, your Rs 15,000 monthly expenses may double in 12 years.

If income remains Rs 20,000, the gap between income and expenses will widen.

Healthcare and Medical Costs
Medical expenses increase with age.

Even with health insurance, out-of-pocket medical costs can rise.

If a medical emergency arises, your savings could be depleted quickly.

Emergency Fund Requirement
A sudden family emergency can strain finances.

Having at least 2–3 years' worth of expenses in a liquid fund is necessary.

If you do not have an emergency fund, your retirement income may not be sufficient.

Unplanned Expenses and Lifestyle Changes
New financial needs may arise, such as helping family members or home repairs.

You may want to travel, pursue hobbies, or engage in social activities.

A fixed retirement income can make such expenses challenging.

Investment Strategy for Long-Term Security
To beat inflation, invest a portion of savings in growth-oriented assets.

A mix of equity and debt funds will help generate better returns.

A Systematic Withdrawal Plan (SWP) from equity funds can provide a higher monthly income.

Alternative Income Sources
Consider part-time work, freelancing, or consulting if possible.

Rental income or dividends from investments can support retirement cash flow.

Final Insights
Rs 20,000 may be enough now, but inflation and rising costs can make it insufficient later.

A combination of investments, emergency funds, and alternate income sources will provide financial security.

Regularly review and adjust your financial plan to sustain your retirement lifestyle.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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