Citizens' Issues
Coastal Tamil Nadu, Andhra Pradesh brace for a cyclonic storm

Authorities are on high alert after a deep depression lying 500 km south east of Chennai intensified into a cyclonic storm and is expected to cross the coast between Nagapattinam in Tamil Nadu and Nellore in Andhra Pradesh on Wednesday

Chennai/Hyderabad: Coastal districts of Tamil Nadu and Andhra Pradesh braced for a cyclonic storm that is expected to make landfall on Wednesday, as incessant rains hit normal life today in Chennai, reports PTI.
Authorities were put on high alert after a deep depression lying 500 km south east of Chennai intensified into a cyclonic storm and is expected to cross the coast between Nagapattinam in Tamil Nadu and Nellore in Andhra Pradesh tomorrow, bringing in torrential rains in the region.
The system, named 'Nilam', as suggested by Pakistan under the cyclone naming procedure, would move north-westwards and cross the coast between Nagapattinam and Nellore by tomorrow afternoon/evening.
Under the influence of the storm, rainfall at most places, with isolated heavy to very heavy rainfall, would occur over coastal Tamil Nadu and Puducherry during next 12 hours, a bulletin issued by Area Cyclone Warning Centre here at 1pm said.
It forecast heavy to very heavy rainfall and isolated extremely heavy rainfall (25 cm or more) in the region during the subsequent 36 hours.
"Squally winds speed reaching 45-55 kmph gusting to 65 kmph would prevail along and off north Tamil Nadu, Puducherry and adjoining south Andhra Pradesh coasts during next 12 hours. The wind speed would gradually increase thereafter as the system comes closer to coast," it said.
Sea will be "very rough to high" and fishermen in Tamil Nadu, Puducherry and adjoining south Andhra Pradesh coasts have been advised to stay off the sea.
Windspeeds can reach upto 90 km in Chennai and there could be some disruption in communication lines, the bulletin said.
Danger signals ranging from five to seven have been hoisted at Chennai, Ennore, Cuddalore, Nagapattinam and Puducherry ports.
Normal life in Chennai, Kancheepuram, Cuddalore and Villupuram was hit by incessant rains since morning. A holiday was declared today for schools and colleges.
In AP, a third warning signal has been issued in Krishnapatnam, Vadarevu, Machilipatnam and Nizampatnam ports while fishermen have been warned not to venture into sea.
Control rooms have been opened in the coastal districts, particularly SPS Nellore and Prakasam that are expected to face a major impact of the cyclone.


Maruti Suzuki Q2 net profit slips 5%; gives all-time high discounts


There is not much demand for Maruti Suzuki's petrol cars and it cannot produce enough diesel cars that are selling like hot cars, which has affected its bottomline
New Delhi: Maruti Suzuki India Ltd (MSI), the country's largest car maker on Tuesday reported 5.41% decline in its net profit to Rs227.45 crore for the quarter ended 30th September due to lower sales, mainly of petrol models, reports PTI.
The average discounts on the models, especially petrol run, were all-time high during the July-September quarter.
The company had posted a net profit of Rs240.45 crore in the corresponding period last year, Maruti Suzuki India (MSI) said in a statement.
The net sales during the second quarter of this fiscal, however, went up by 8.5% to Rs8,070.11 crore, from Rs7,435.85 crore in the year-ago period, it added.
In the July-September period, vehicle sales of MSI fell by 8.69% to 2.3 lakh units, from 2.5 lakh units in the same period last year.
Out of this, the company sold 2.1 lakh units in the domestic market compared to 2.2 lakh units in the same period previous year. It also exported 20,422 units as against 29,901 units in last year, the statement said.
Commenting on the numbers, MSI said: "The market showed a marked preference for diesel cars, while demand for petrol vehicles dropped sharply... The bottomline has also been impacted by lower non operating income during the quarter."
Despite ramping up the production of diesel cars, the company has a waiting list of nearly 1.25 lakh diesel cars.
"To counter subdued demand for petrol cars, the company enhanced sales promotion measures that also impacted profitability... The company continues to focus on component localisation and reduction in cost and overheads," MSI said.
While talking to analysts in a conference call, MSI Chief Financial Officer Ajay Seth said the company doled out more discounts in the second quarter that was "at an all-time high" to attract customers.
"On an average, the discount in Q2 was Rs 14,750 per car, while it was Rs 12,600 in Q1... This, of course, impacted our margins," he added.
On its growth in sales revenue, the company said it on account of robust demand for its new multi purpose vehicle Ertiga and "enhanced export realisations".
MSI scrip closed 2.27% up at Rs 1,394.55 on the BSE.


Moneylife Life Insurance seminar: What is the right life insurance?

Moneylife Foundation held an exclusive, in-depth session conducted by Raj Pradhan, where he delved on different types of life insurance and the vital aspects to consider before making a buying decision

Moneylife Foundation conducted an seminar on life insurance “Life Insurance: The Right Product at the Right Price!” by Raj Pradhan, who has written several cover stories for the Moneylife magazine. He gave insights to an eager audience, on life insurance options, riders, online versus offline term plan, insurance-cum-savings products, child plans, annuity, claims rejection and legal redressal.  


It is imperative to get adequate life insurance for financial risk protection against death of a bread-winner in the family. There are different avenues to do it like Term Life, Endowment, Money-back, ULIP, Whole Life, etc. While a term plan is pure life insurance the others are insurance-cum-savings products. Term plan is much easier to understand than all other insurance products, yet ironically it forms an insignificant proportion of an insurance company’s business.  


Even though life insurance riders may or may not be offered with different products, it should not be the deciding factor for zeroing on term life or any other type of life insurance product.


A Personal Accident (PA) policy can be purchased from a general insurance company, which is a comprehensive product at similar pricing.


To read more about Moneylife Foundation events click here  


How does one be safe and smart to be able to navigate the complex world of life insurance products and hard-sell by intermediaries and pick the right insurance policy was the heart of Mr Pradhan’s insightful presentation. While term life insurance is the best option, what are the parameters to consider?


Evaluating life insurance products with respect to charges, insurance cover cost, returns, liquidity and surrender is a must to understand whether you want to go for pure term plan or an insurance-cum-savings product. Buy the product which suits you and not what the insurance company or agents push. It’s no surprise that traditional products easily beat ULIP in sales even though post September 2010 ULIP changes improved the product.


To become a member of Moneylife Foundation and avail benefits at no cost, click here.


While mis-selling in life insurance is a reality, buyers must be alert as it will be difficult to prove it. Once the free-look period opportunity is lost, there are fewer options to get your funds back without any loss. Insurance companies have good and bad products. You have to make a right decision to avoid being trapped in to a dud.


Buying life insurance policy in utmost good faith will ensure your family does not have to run from pillar to post to get the death claim paid. Every insurance company will repudiate fraudulent claim. Hiding a medical condition at the purchase of the product is as good as wasting the premium payment. Insurers know how to detect a fraud which can entail services of detective agencies. If your case is genuine, legal redressal options are available.


To read articles on insurance by Raj Pradhan, click here.


Mr Pradhan is currently a columnist at Moneylife and writes extensively about insurance. 

Stay tuned for the video which will be uploaded shortly. If you would like to be informed of many more such events in future become a Moneylife Foundation member. Click here to register. Join Moneylife Foundation.



Nem Chandra Singhal

4 years ago

Please organise some seminar in Delhi or Ghaziabad.
Nem Chandra Singhal

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