Private insurance company Bajaj Allianz General Insurance has launched Commercial Package Policy-a comprehensive insurance for small and medium business enterprises (SME). The highlight of the product is that commercial package policy covers all the major risks in a single policy which are otherwise needed to be covered under separate policies.
Tapan Singhel, chief marketing officer, Bajaj Allianz General Insurance, said, "SMEs are often regarded as the key to India's economic growth and the cornerstone of entrepreneurship. Most of such entrepreneurs will be busy with their daily operations of their entities, which leaves little time to think about managing the various associated risks. Bajaj Allianz's simple and comprehensive commercial package policy is ideal for such business owners as it is customised to take care of all the risks associated to their assets or people and even probable losses due to an interruption through a single policy."
Commercial package policy offers a host of covers namely fire and allied perils, burglary and robbery, money in transit , damage to plate glass, machinery breakdown, neon sign, electronic equipments, fidelity guarantee, public liability, portable equipment, baggage and business interruption cover. The plan also covers employees under group personal accident and workmen's compensation cover.
Scamsters are using replicas of I-T department and bank login web pages to get your username and password. While the sites are no longer available, the emails are still in circulation
Taxpayers beware, especially those awaiting tax refunds from the Income Tax (I-T) department. Fraudsters, who claim to give I-T refunds online, are back in action. This time, they are promising even bigger refunds and have created pages that are a replica of the I-T department and your bank websites.
Moneylife had alerted readers in a report in October 2009, about a phishing mail, which claimed to give I-T refunds. (Read, 'Fraudsters want to give your I-T tax refund via mail!')These mails later vanished, or the circulation fell substantially. Now, a more sophisticated phishing mail has resurfaced again.
If you have read the earlier report, you would know how to identify a phishing mails. In the latest mail, the language acts like a big hoarding that reads, "SPAM" and "PHISHING", similar to the last email. The salutation in this mail says "Dear Valued Taxpayer" while the I-T department commonly uses "Dear Taxpayer". Similarly, the sign off in the mail reads "Tax Refund Department, Department of revenue, Ministry of finance, Government of India". The I-T department never mentions anything about the Ministry of Finance and Government of India.
This time, the figure mentioned as your tax refund is quite huge, but again reads 47,320.00 INR. The question to be asked is why would our I-T department use an international symbol like INR instead of Rs? Also, the I-T department never mentions any amount in its electronic communication, except in encrypted attachment or attached pdf files, which are password protected.
Another point in the mail is you need to submit a refund request to them, whereas the I-T department processes all refund claims on its own and sends the amount (if any) directly to your bank account or dispatches a cheque which mentions your bank account number and your name.
The next issue is that you have to click on a link to submit your request. And this is where it becomes more dangerous. The click opens a page that is a replica of the I-T department website, except for the IP address. The I-T department's site address is www.incometaxindia.gov.in, while the address of the page that opens after clicking the link in the mail is http://beauxartsschool.com/webalizer/web/1/refunds/index.html?id=refund. Those who use Mozilla Firefox and a plug-in 'Web of Trust' or WOT, will immediately receive an alert that this site (beauxartsschool.com) has a very poor reputation.
Although, the fake site appears genuine in terms of looks and design, the IP address again raises the banner, SPAM and PHISHING. In case you do not want to pay any heed, then click to select your bank. There are names of a few banks mentioned like Axis Bank, Bank of Maharashtra, Canara Bank, HDFC Bank, ICICI Bank, State Bank of India (SBI) and so on. But the list is incomplete and you will find the label 'corporate' attached to some banks, like Bank of Maharashtra (corporate). What this 'corporate' means we don't know, and if this relates to state-run banks then why have SBI and Punjab National Bank not been given the tag?
If you still want to select your bank and click on the link, then it will take you to the login page of your bank, except that the URL or IP address remains unchanged. That is, it still reads http://beauxartsschool.com/webalizer/web/1/refunds/YOURBANK/indexx.html. This page also looks the same as your bank webpage and you may be prompted to provide your account number and password, which will be recorded by the spammers. No doubt, using your username and password they will immediately log in to your account and divert all the money to their own account.
When checked last, the links for the fake site were not working. The browsers were showing an error that the requested URL was not found on the server. It's possible that the Indian authorities or site owners of http://beauxartsschool.com/ have removed the fake pages from the servers.
Those who have received such mails in their Gmail account can also mark it as a phishing attack. Open the mails (do not click on anything inside the mail, just open it to read). At the upper end on the right side, next to the 'reply' tab you will see a triangle pointing downwards. Click on it for more options. Click on 'report phishing' and it will send an alert to Google and the sender will be blocked from making a phishing attempt.
New Delhi: As food inflation surged to 18.32%, a top adviser in the finance ministry today agreed with home minister P Chidambaram that the government does not have all the tools to control food prices since it is an enabling body, reports PTI.
"Absolutely," chief economic adviser Kaushik Basu told reporters when asked whether the government does not have all the tools to control food prices.
P Chidambaram, who had served as finance minister in the previous UPA regime, had yesterday wondered whether the government has all the tools to rein in high food prices.
"... Nor am I sure whether we have at our hand all the tools to control inflation. Some say we do, some say we don't (have tools to check price rise). At least in case of food inflation, I have not heard anyone arguing convincingly that we have all the tools to control food inflation," the home minister had said.
Mr Basu said, "I mean this is a huge country in terms of population and land area. It is an utter mistake to think that it is fully within the control of the government to move prices of food up and down."
"Government is just an enabling body, there are little local bodies taking decisions, there are private players taking decisions, farmers taking decisions ... Government can give signals, can intervene strategically to keep the situation as much under control as possible," he said.
While stating that food inflation at 18.32% is not comfortable, Mr Basu said the situation is being watched and appropriate action will be taken. He also said that the spurt in food inflation was expected, but not to the extent of 18.32%, recorded for the week ended 25th December.
He said the movement of onion, whose price rise resulted in surge in inflation, should be facilitated to bring down rates.
Mr Basu said he will emphasise on facilitating the onion movement at a meeting called by cabinet secretary KM Chandrasekhar to take stock of prices later today.
When asked that the government did not take steps when onion prices were at Rs40 per kg, and woke up only when the rates shot up to Rs75-Rs80 a kg, Mr Basu said, "I am not denying that there are occasions when slightly earlier moves could have been made, no two ways about that."
He, however, cautioned against using any blunt instrument like arbitrary fixing of prices to tame exceptionally high prices, as such a move results in shortage of commodities and retard growth.
"There has been increase in prices. These have to be tackled. True. But, we cannot tackle them with blunt instruments, it will lead to slow down in growth," he said.
Mr Basu said though food inflation is going up, the overall trend is southward.
"So, the situation (food inflation) is not good, not comfortable. We are watching it ... but the overall trend is downward one and we are going through a bit of rough patch over last few weeks," he added.
He said while overall December inflation would be higher than 7.48% in the previous month, it would decline in next one month.
The finance ministry has already revised its overall inflation target to 6.5% by the March end, from 6% as projected in the mid-year analysis tabled in Parliament last month.
The week-based inflation number, which is the highest for 2010 so far, was spiked by the rising onion and vegetable prices. Food inflation for the preceding week was recorded at 14.44%.
While vegetables became costlier by 58.58%, onion prices rose by 82.47% on an annual basis. On a weekly basis, onion rates rose by 23.01% in the wholesale markets.
Mr Basu said food inflation data released today was reflective of prices, before government steps to check rising prices of onion were announced.
The government banned onion exports and removed customs and countervailing duties on the bulb.
"These steps had moderating impact on onion prices," he added.
However, Pakistan has already stopped export of onions to India, a step that can blunt the impact of such measures.