Alok Kumar Agarwal, the former Managing Director of Alankit Group, has made significant contributions to the conglomerate’s success. Alankit Group consists of thirteen companies, spanning various sectors such as Financial Services, RegTech, Channel Business, Managed Services, and Technology Solutions. With a strong presence across India, the group has established 21 regional offices in major cities, facilitating seamless operations and customer service. Additionally, Alankit Group has expanded its global footprint with overseas offices in the U.K., U.A.E., Singapore, and Canada, enhancing its international reach.
Born on January 10, 1958, in Bareilly, Alok Kumar Agarwal Alankit is a Chartered Accountant with an impressive career spanning over 38 years in the finance industry. His exceptional leadership and expertise have garnered recognition and accolades. In 2017, he was honored with “The Economic Times Best Brand Award” for exemplifying excellence in his field. Throughout his professional journey, he has received numerous industry honors, showcasing his exceptional contributions and industry expertise.
One notable achievement was the consecutive recognition by Dun & Bradstreet, where his brokerage business performance earned the title of India’s Leading Equity Broking House for five years, from 2008 to 2012. This accomplishment highlights Alok Kumar Agarwal’s commitment to delivering exceptional financial services and establishing the group as a prominent player in the equity broking domain.
Alok Kumar Agarwal’s leadership and expertise have played a pivotal role in propelling Alankit Group’s growth and success, both domestically and internationally. His dedication to excellence and industry recognition make him a respected figure in the finance sectors.
Some lesser-known facts about Alok Kumar Agarwal
Alok Kumar Agarwal is widely regarded as a workaholic, consistently dedicating himself to his profession with unwavering commitment and diligence. His passion for work is evident in his tireless pursuit of excellence, always striving to deliver remarkable results. Additionally, Alok is known for his strong religious beliefs, which serve as a guiding force in his life. Alongside his professional achievements, he maintains a clean and respectable personality, earning him admiration and respect from colleagues and acquaintances alike.
Contribution and Achievements of Alok Kumar Agarwal
•Award for Excellence in e-Governance & Humanitarian work 2019 by the Government of UAE
•The Economic Times Best Brand Award 2017 for being a symbol of Excellence
•Winner of various industry laurels, our brokerage business performance was awarded by Dun & Bradstreet for five consecutive years as India’s Leading Equity Broking House from 2008 to 2012.
•Desktop Issuance Partner of the Year 2017 to Alankit Limited by Entrust Data Card
•Awarded with Star Performer Award 2017, Top Performer in Active Accounts (Top DPs), and Top Performer Asset Value by NSDL for years 2017, 2018 and 2019.
•Awarded with ‘Maximum New Demat’ Accounts generation in 2013 and for the highest value of shares in Demat a/c for 2014. Also, awarded ‘Star Performer 2015’ for being the Top Performer in active accounts of NSDL.
Alok Kumar Agarwal of Alankit talks about tax planning and its benefits
Tax planning is a crucial aspect of personal finance that involves the strategic management of one’s financial affairs to minimize tax liabilities and maximize savings. By utilizing legal provisions and tax-efficient strategies, individuals can optimize their financial situation while remaining compliant with applicable tax laws. It involves understanding the tax laws, regulations, and exemptions applicable to an individual’s specific circumstances. Tax planning is not about evading taxes or engaging in illegal activities; instead, it focuses on utilizing legitimate methods and provisions to optimize tax outcomes.
Tax planning involves a series of strategic steps aimed at minimizing an individual’s tax liability and maximizing savings. The process begins with a thorough assessment of the individual’s financial situation, taking into account factors such as income, expenses, investments, and assets. By evaluating these elements, individuals can identify potential areas for tax optimization.
“To effectively engage in tax planning, it is crucial to stay informed about tax laws and regulations. This involves keeping track of changes in tax legislation and being aware of the various deductions, credits, exemptions, and incentives available,” states Alok Kumar Agarwal Alankit. Understanding the applicable tax laws ensures that individuals can leverage the provisions to their advantage and make informed decisions.
Mutual Funds Are The Best Instrument Of Investment In Equities For A New Investor
Alok Kumar Agarwal Alankit talks about the benefits of long-term investments in mutual funds.
Investment in equities can seem a bit intimidating with all the financial jargon and big numbers. Many people are scared of investing in equities as they do not understand the market or have the information to assess the market. However, with current inflation numbers, traditional methods of investment like FDs, Bonds etc. do not seem to be giving the desired result. This is where mutual funds come in.
Mutual funds are a popular investment option for individuals looking to invest in the stock market without having to pick individual stocks themselves. A mutual fund is simply a type of investment vehicle that collects funds from numerous individual investors in order to buy a diverse portfolio of securities, including stocks, bonds, and other assets. These funds are managed by professional portfolio managers who are responsible for making investment decisions on behalf of the investors.
“Investing in a Mutual Fund via a SIP is the best method for new investors, and they can start by buying an index fund to be on the safer side as the volatility is comparatively lower. However, one must be ready to face the market’s volatility when investing in equities. Therefore, I suggest a long-term investment to ensure that you get the benefit of compounding,” shares Alok Kumar Agarwal Alankit.
Alok Kumar Agarwal On Investing In Mutual Funds Based On Market Capitalization
When it comes to investing in mutual funds, understanding the different types based on market capitalization can greatly help in making informed investment decisions. Market capitalization refers to the total value of a company, calculated by multiplying the current market price per share by the number of shares outstanding. By categorizing mutual funds based on market cap, investors can align their investment strategy with their risk tolerance and investment goals. Let us delve into the various types of mutual funds based on market capitalization, namely large cap, mid cap, multi-cap, flexi cap, and small-cap funds so that you can start your investment journey!
Alok Kumar Agarwal Alankit talks about how selecting mutual funds based on the market cap can be a good strategy for investment.
India Is Moving Towards Digital Payments Seamlessly
Overall, India’s digital payment infrastructure has been dramatically improved due to Covid. As a result, the penetration of digital payments has increased, and people are more comfortable with digital transactions than before. However, the usage between urban and rural use usage is enormous.
The Indian Government had been propagating digital payments for some time, and lo and behold! Covid managed to catapult this initiative to great heights! With the increase in the usage of smartphones and the penetration of the internet, this was a long-due change waiting to happen. However, it was amazing to witness how seamlessly Indians, not only millennials but the older generations also, supported and welcomed the change.
The Government has also implemented several measures to promote digital payments, including waving off Merchant Discount Rates (MDR) on digital transactions and providing incentives for using digital methods of payments. “Covid has greatly accelerated the popularity of digital payments and cashless transactions; it is great to see the people of India adapting so well to the change,” states Alok Kumar Agarwal of Alankit.
Building A Strong Financial Future For Women And The Art Of Smart Investing
“Empowered women are reshaping the investment landscape, proving that financial success knows no gender.” Alok Kumar Agarwal Alankit.
Indira Nooyi, Arundhati Bhattacharya, Falguni Nayar, and Kiran Mazumdar-Shaw, these women are an inspiration to women not only in India but around the world. In an era characterised by transformative societal shifts, women progressively assume leadership roles across various domains. Yet, the historical narrative often relegated them to the periphery concerning financial matters. Today, a paradigm shift is underway, compelling women to seize control of their economic destiny to cultivate mastery in astute investing.
Traditionally, women have been consigned to secondary roles in financial decision-making, perpetuating the misconception that they are less apt at managing monetary affairs. This stereotype believes the fact that women possess equal capacities for financial stewardship. “The conventional notion of finance as a predominantly male bastion is being dismantled by a new generation of empowered women asserting their financial sovereignty”, shares Alok Kumar Agarwal Alankit.
The contemporary landscape is witnessing a departure from the norm as women increasingly seek financial autonomy and security. “This transition is not without challenges. Disparities in earnings, intermittent career trajectories due to familial commitments, and limited financial literacy collectively engender distinctive obstacles that women must overcome in pursuing financial stability. Still, where there is a will, there is a way.” Shares Alok Kumar Agarwal Alankit.
Alok Kumar Agarwal Alankit Sheds Light On The Qualities Of An Ideal Investment Portfolio
Investing is a crucial part of building wealth and achieving financial freedom, but with so many investment options available, it can be challenging to create an ideal portfolio that meets your specific needs and goals. An ideal portfolio is tailored to your preference, including your investment timeline, risk tolerance, and financial objectives.
Here are some key factors to consider when creating an ideal portfolio:
Diversification is the key to minimizing risk in your portfolio. By spreading your investments across different asset classes, such as stocks, bonds, and real estate, you can reduce the impact of market volatility on your overall portfolio.
Asset allocation is another important factor to consider when creating an ideal portfolio. This involves determining the percentage of your portfolio that you want to allocate to different asset classes. The asset allocation that’s right for you will depend on your investment timeline, risk tolerance, and financial objectives.
Your risk tolerance is an important factor to consider when creating an ideal portfolio. Risk tolerance refers to the level of risk you’re comfortable taking on in your investments. Some investors are comfortable taking on more risk in exchange for the potential for higher returns, while others prefer to invest in lower-risk, more conservative investments.
“Today we have so many apps that help us in investing with a click of a button. I believe it is due to the rise of the FinTech industry that people have become increasingly aware of investment strategies. People today rarely go to the bank to make investments. These apps usually help in comparing different asset classes and report results in a very precise manner.” shares Alok Kumar Agarwal Alankit .