Best Practices

  • Test your knowledge and compete with the world: Youth Money Olympiad by Money Wizards and Principal Mutual Funds: Visit:




  • Participate in Financial Literacy Poem competition: Write to us on



  • Contribute as a volunteer to financial literacy movement and receive certificate from university: Write to us on




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Bharatiya Ideas

Saatvik Daan

The concept of Daan in Bharatiya culture is very comprehensive. There are many confusions about the process and outcomes. But, Bhagwan Krishn in Bhagwad Geeta has very beautifully explained this concept.

The Daan can be categorized in three categories:

  1. Saatvik Daan: When there is no expectation of returns (neither in monetary nor non-monetary). The sole purpose of giving daan is to create good for benefit of all. This type of daan is called Saatvik Daan
  2. Rajsik Daan: When the donor expects equivalent or higher returns in lieu of the donation. This is Raajsik Daan.
  3. Taamsik Daan: When the purpose of donation is to create troubles for someone or derive illegitimate and unethical pleasures, it is taamsik daan.

Thus Bharatiya Model of Financial Literacy suggests that the ethical profit (shubh-laabh) should be utilized for creating social good and that too in Saatvik Daan form.

A Story for elaborating the concept:

One fine day Pandavas with the purpose of doing public good wished to feed the hungry. They set up a community kitchen where none was refused food. At the end of the day, a mongoose, whose half body was of gold started rolling on the remains of food grains. After repeatedly rolling without any effect, the mongoose was disappointed. Yudhishthir was curious to know what was going on. So he asked the mongoose to explain about this act. The mongoose replied that sometime ago its half body had turned golden by rolling on the leftover food grains at a Brahmin’s home. The mongoose elaborated the incident in detail. There was once upon a time a Brahmin family that was so poor that the Bhiksha had not given them any food for many days. Fortunately after many days of starvation, they could have some grains for food. When the family just began to have food, a sadhu came to their door and asked for food. Following the dharm of serving the guest like a Bhagwan, the elderly starved Brahmin offered the part of his food to him but person asked for more as  his hunger was not fulfilled. The wife then offered her share of food, but the starved Saadhu was still hungry and so the son also gave his share. Even after this the saadhu’s hunger was not fulfilled. Then the daughter also gave the food. Now the Saadhu was satisfied.

The mongoose said,  “by chance, I rolled into the remains of those food particles and half my body turned golden. Since then for years, I have rolled in myriad of left over food grains, where people claimed to have made great sacrifices with purely altruistic motives, in the hope of making my whole body golden, but I have always been disappointed and same happened today.  This made Yudhisthir ponder over his intentions and his daan was more of a raajsik in nature, while that of poor family was purely saatvik.

An image that represents three daan are is shown below (source: Gita Press, Gorkahpur)

satvik daan

  Image credits: Jeevan Charya Ank, Gita Press Gorakhpur


Bharatiya Ideas

Shastrarth – Can Money Bring Happiness?

FMS-WISDOM continues the initiative to revive the traditional process of Shastrarth for gaining and disseminating knowledge. This time Dr. Sandeep Atre and Dr. Harsh Purohit did a Shastrarth on “Can Money Bring Happiness?”
The session was part of the FDP on Managing Money for Happy Family: Bharatiya Insights.

Video Part 1/2
Video Part 2/2

Bharatiya Ideas

Mira Bai – Ram Ratan Dhan above all Wealth

Most of us have heard about Mira Bai and her zenith of bhakti for the Bhagwan. There are numerous bhajans available. 

The underlying philosophy of the approach she adopted can be summarized as – Ram Ratan dhan is above all the dhan (wealth). Here it is acknowledged that not everyone can transcend to that level immediately, but this can serve as an ideal path or a guiding force for thinking beyond materialistic gains (temporary) and achieving higher order gains (eternal).

Literature for further reading: 

  • Book – Mira Bai (Rajasthani Poetess) By Usha Nilsson  (google book link)
  • Mira Bai : Her Life And Times by Hermann Goetz (buy e-book on  kindle
  • The Devotional Poems of Mirabai by A.J. Alston

Image credits:

Bharatiya Ideas

Bhagwan Ganesh and Maa Lakshmi

Bhagwan Ganesh, who is the Devta of Buddhi (intellect, wisdom) lead human beings to the right path by enlightening their thoughts with positive and right ideas (sat-buddhi). This is essential in decision making, which is an important component of the personal finance.

The facets of Bhagwan Ganesh carry many learning for human beings – making the right and positive start, having large ears for better listening, parikrama of Bhagwan Shiv and Maa Parvati (respect for parents and elders), remaining calm and composed for balanced approach in life etc.

Maa Lakshmi, who resides in Vaikunth with Bhagwan Vishnu lead human beings to the path of virtuous life, devotion to Bhagwan, Karm Yog (कराग्रे वस्ते लक्ष्मी), cleanliness, purity, better health and wealth. The lotus flower implies that remaining detached while performing the duties is essential.

Image credits:


Monthly Reports

For past two years CFPTRW has carried out various activities. The executive summary of those reports can be accessed here. For detailed reports, write to us at 

March 2017 February 2017 January 2017
December 2016 November 2016 October 2016
September 2016 August 2016 July 2016
June 2016 May 2016 April 2016
March 2016 February 2016 January 2016
December 2015 November 2015 October 2015
September 2015 July 2015 April to June 2015
Bharatiya Ideas

What goes with us?

Below are links to some Bhajans which highlight the importance of looking beyond the materialistic world.


  • Vaishnav Jan to Tene kahiye – this bhajan explains the importance of doing social good through self less (saatvik daan). Link to access lyrics –

Financial Literacy Poem Writing Competition

A Poem Writing Competition was held under CFPTRW. 

To access the poems click here


Personal Finance Quiz 2017