Srinagar, Sept. 1 -- These doubts are born out of a culture where saving has long been favored over investing. The fixed deposit in a bank still feels safer than the stock market.

Yet there is an irony here.

A government salary is one of the cleanest forms of income in India. Each rupee that enters the account has already been taxed. This makes it what financial advisors like to call "super white money".

In simple terms, it is money beyond suspicion. That gives government employees in Kashmir a unique advantage. They can invest without fear of being questioned about the source of their earnings.

This matters in a place where mistrust often shadows financial activity. A Kashmiri shopkeeper's sudden purchase of property may invite quest...