14th April, also known as the ‘Indian Women’s Savings day,’ is providing you with an opportunity to meet one of the most dynamic women of Jaipur.

Say hello to Mrs. Nivedita Sarda, who is a Chartered Accountant, a Corporate Advisor, and an Advocate.  She started her career as a CA with one of the best CA firms of Jaipur, and then went on to become a manager in the Corporate Finance Department of the India’s largest Financial Institution ‘Industrial Development Bank of India’ for six years. After that, she started her entrepreneurial journey by becoming one of the founding partners of Vedanta Law Chambers.

Yes, she has a lot of feathers in her proverbial cap of career and success!

 

Being a woman in a man’s field

The areas that I have covered are difficult, and I won’t say that the success came easily to me. The hard part did not include meeting diverse people but rather convincing them to give me work. Apart from that, people often used to think that I was rude and arrogant, simply because I was an extremely focused woman.

At times, it was very difficult to stand in a group of men and talk business. That was the time when awkwardness would drive in. But, in the end, you have to do everything to convince them of your abilities, by being specific, precise and hard-nosed.

Her area of interest

I love structuring transactions for people! I love working with people and structuring what they have already established. I love giving proposals by which their organization could get the opportunity to grow even faster. As a result, complex matters relating to joint ventures, corporate structuring, restructuring, etc. interest me.

I also love dealing with complex commercial matters. I would rather lay awake at night trying to come up with a solution to a complex problem than do a procedural job.

 

Her journey

I was not anywhere in the mood to become a Chartered Accountant. Until the 12th grade, I was keen on studying science and wanted to become an Architect. I gave my engineering exams, but I was unable to qualify for Architecture due to a shortage of only two marks.

So, I decided to set sail in the field of Commerce. I still remember arguing with one of my cousins for three days as to why I shouldn’t become a CA! But, in the end, he threw me a challenge, and I decided to prove everybody that I too could become a CA. But later on, I realized how fascinated I was with this field! It held my interest and my attention. I started feeling more comfortable with the CA subjects than I did with those of science. I ended up being a rank holder, and the rest is history!

From CA to LLB

After I had completed my CA, I was selected to work at IDBI through campus recruitments. Three years down the line, my boss applied for an MBA degree. Since IDBI has a system of supporting its staff if they wish to go for higher studies in the form of paying the course fee and time offs, anybody could go for it. I remember he said to me: “Because I am a man, I have the option to go for my higher studies even after getting married and having a family!”

Hence, in order to prove that women too could study after getting married, I applied for a CTM (Certificate in Treasury Management) course. Soon I realized that I could do even more! After that, I enrolled myself in LLB.

One year down the line, I quit IDBI and practiced law. That made me realize that I had a knack for treating matters more on a business commercial scale by fusing the legal angle into it. Soon after that, I decided to start my own firm!

 

Life in the Corporate World

Corporate makes you work hard, but the main challenge is to prove yourself while competing with the men. You have to prove that although women work for less number of hours, they work better than the men. Men tend to waste a major chunk of their day doing frivolous things and end up staying till late in the office. So, everybody thinks that they are the ones working harder! In short, you have to fight for your work.

Women & Contracts

I don’t think gender comes into play when it comes to reading documents. Rather I think nobody reads them! But, I have noticed that women, in general, are more conscious about what they’re signing, instead of men who tend to be a little more trustworthy.

Whenever you are signing a work contract, be sure to check these few things: The salary, working hours, facilities being provided, notices, their policy for sexual harassment & retrenchment. You need to see beyond their financial commitments.

How can women save

Firstly, you need to define what you need to save for and exactly how much you need to save. After that, figure out when you’ll be needing the money.

It is always better to not keep the money at home. Women should open a bank account, and try to have it in their own name, operated only through them. They could have a recurring bank account where they can deposit as low as Rs.500, or a savings account. Apart from that, rotational FDs are a good idea, along with SIPs (Systematic Investment Plans) in Mutual Funds. Even Financial Advisors can plan it out on the basis of your goals.

But remember always to invest your money in those financial instruments which will pay you back.

Bad financial decisions

I have made two bad financial decisions in my life. Firstly, I invested in a product of a particular company which ended up being tanked. As a result, I lost a pretty big chunk of my savings. Secondly, I gave some money to one of my close relatives. When I wanted the money back,  I had to follow him like anything. And when he did return me the money, it was without any interest. So I’ll advise everyone to avoid getting money into your relations. Your money might never come back! Also, do not put it in a product which is not liquid. You should always have the option to take it out whenever you want to.

Banks Loans & Women

As a matter of fact, banks trust women more. Women are considered as a safer bet, who do not take reckless decisions. Women do not go to a bank until and unless they are sure that they have enough paperwork, proper backup and a viable plan to present. Hence, banks consider women to have a higher degree of integrity, honesty, and a desire to pay back what they owe.

The only problem is the matter of security which is needed by the bank in order to sanction a loan. But, women in India do have any security of their own! They do not generally own capital or assets in their own name. They are dependent on their father or husband, which might pose a problem in certain cases. Other than that, in the eyes of the bank, a woman is on par with the men.

Also, according to the new fiscal policy, every branch of the bank has to give at least one loan to a woman in a year. This reduces the odds even further!

Tips for budding entrepreneurs

It is imperative to have full faith in yourself. You must never think that what you’re doing is wrong or insufficient. Secondly, carve a niche for yourself. Don’t do what everybody is doing! And thirdly, try to have the support of your family. They are the ones who will satisfy you emotionally & mentally.

 

Books you’re reading right now?

I am currently reading two books: “India Wins” by Ravi Naval, which is about innovation that has been happening and will further happen in India. And “My Geeta” by Devdutt Patanaik.

Your last vacation

I traveled recently to Saudi Arabia, which helped me get rid of a lot of misconceptions that I used to have earlier. I found that there were a lot more restrictions on men in Saudi Arabia than women!

Mrs. Nivedita Sarda is the living example of how one should never stop learning and growing. The amount of knowledge she has amassed over the years is what makes her stand out as an uber-successful entrepreneur. Nothing has ever stopped her from going after what she wants, and nothing ever will.

How freaking inspirational!