How To Collect Refund!
This is one thing which I would like to bring to Moneylifers’ notice. It is about an incident which our house help had with
After seeing an ad on TV, she ordered a small sewing machine which was promptly delivered to her house in three days with COD (cash-on-delivery) payment option. She paid around Rs2,500 for that.
To her shock, she found that the machine was not working, as promised in the TV ad. She didn’t know what to do. So she approached my wife for help. Since the machine was not working, my wife thought that we should be able to return it and get her money back. She tried to contact customer care of NaapTol with a request to return the machine.
Every time, she got the answer that somebody would call her back for return-related query; but no one called back. After repeatedly calling four-five times a day for a week, they said that someone would come to pick up the machine, but no one turned up. They also said that, in return, they will give a gift card and you need to use it for buying something else through their website. We continued to follow it up with their customer care, for a couple of weeks. 
One fine day, they gave us the name of some courier company that we had to contact for pick-up. My wife followed them for a week or so; no one turned up. 
Meanwhile, our house help’s husband got an idea; he ordered one mobile from after seeing their TV ad which was worth more than the price of the sewing machine. After two-three days, when the person came to deliver the mobile, he took delivery of that mobile and said he would like to pay for this in the form of return of the sewing machine. The delivery person was puzzled and refused. But, by then, the house help’s husband had taken the parcel and kept it in his home. After this incident, immediately, somebody from NaapTol called and agreed to take back the sewing machine with cash refund. On the very next day, they refunded the money, took back both the sewing machine as well as the mobile. 
With this incident, I just want to highlight the cheap tactics of some of these online retail sites where they are selling cheap stuff (items which will not work even once). And they are not able to replace or refund, if the product is not working. Now, they are luring via TV as well. I think, they are targeting a different section of people who do not have access to Internet.
In this case, the house help’s husband got this brilliant idea and managed to get his money back.
Vinayak Shrivastava, by email 

Numbers Can’t Bluff

This is with regard to “Wealth Creators” (Moneylife, 8 January 2015). It is only Moneylife that talks about shares like Symphony or Mayur Uniquoters which have given investors incredible returns. This is because numbers can’t bluff us. Business papers, today, are full of Infosys’ results, even though these were not spectacular. Yet, how they manage to make it appear so good! Symphony, after its results, may get a five-line mention, although it seems a far better atock to invest in today.

Mohan Sivanand, online comment


Improvements Needed In Education and Health

This is with regard to “Reforms & Governance under Modi” by Sucheta Dalal. The article is just a good sample of acts of good governance that are getting delayed for want of pragmatic action. The country is young. Education reforms are crucial. Vice-chancellors are appointed on the basis of caste and region and not merit. Teachers, likewise, are appointed on the basis of reservations that continue after 65 years of independence. Reservations, like subsidies, need reform if governance in education and health sectors has to improve significantly.

B Yerram Raju, online comment


Cash-Strapped Government?

This is with regard to “MOIL: An Exceptional PSU?” MOIL has a huge cash balance on its books. Investors in MOIL should not assume that the cash is theirs. For a cash-strapped government, it can be used to fund the government’s PSU divestment programme. Why invest in PSUs when our ‘Dear Leader’ is pro-private business?

Ralph Rau, online comment


Information Needed

This is with regard to “4 Reasons To Sell a Stock” by R Balakrishnan. How does one dig up the 20-year trading band? Where is such information on PE available? I haven’t found any financial portal that gives this information. Can someone help with pointers to such information?

Kiran Bhagwat, online comment


R Balakrishnan replies:

Bloomberg, Capitaline and ACE are some of the services; all of them are paid services. Often, some of the ratios have to be derived. So, something like ACE is a good database to use.


Is Solvency Ratio A Worry?

This is with regard to “Life Insurance: Review of Edelweiss Tokio online term plan MyLife+” by Raj Pradhan. What about solvency ratio and claim settlement ratio for Edelweiss Tokio?

Shashank S, online comment


Raj Pradhan replies:       

Good question. Solvency ratio should not be a major worry, due to regulations. Claims settlement ratio can be a concern. For new insurers, it can be low due to high early death claims. We will look at the new IRDA annual report 2013-14, which was released on 8 January 2015, to check how insurers fared.


Bottom-Up Approach

This is with regard to “NITI Aayog: A Stronger & More Powerful Body” by Sucheta Dalal. Media analysis, so far, has not gone deep into the rationale for revamping the Planning Commission which has come about as part of the reform process. But for the change in name and the announcement in Narendra Modi’s maiden Independence Day speech, perhaps the changes would not have been criticised by the mainstream media or Opposition parties. The previous regime has damaged the system silently, like the withdrawal of pension scheme. After Nehru, planning has remained an arithmetical exercise factoring in whatever was happening in the economy without much involvement of, or concern for, those affected by planning.


The new dispensation, which claims to be a ‘bottom up’ approach, hopefully, will allow greater participation of stakeholders at and ensure distributive justice. So far, higher share of resources have been cornered by more developed geographical areas; the development needs of states which did not have a ‘hold’ at the Centre were neglected. By and large, the change takes care to retain the essential role played by the erstwhile Planning Commission while bringing focus on decentralisation and wider role for states.


A responsible Opposition, instead of ‘crying foul’, should do more homework and suggest corrections where they feel the revamp goes against the broad interests of the country and the people.

MG Warrier, online comment


Too Short a Period

This is with regard to “Best & Worst Equity Schemes of 2014.” One year is too short a period to judge the performance of equity schemes.

Atul Naik, online comment


Suggestions On Pension Plan

This is with regard to “Pension Plan: Review of LIC’s Varishtha Bima Pension Yojana” by Raj Pradhan. Varishta Bima Pension Yojana (VBPY) has a drawback; its income is fully taxable. The pension has a limit of Rs5,000/- per month which is not sufficient to lead a decent life.


Government should increase the monthly pension amount to Rs10,000/- and there should be no tax deduction at source because this amount, on an annual basis, is not taxable for a senior citizen.


Loan should be available from the deposit amount, immediately from day one, and not after three years’ waiting period. After five years’ lock-in period, a senior citizen should be able to withdraw the amount from this scheme.

For ‘most senior citizens’ (who complete 80 years of age), this lock-in period should be reduced to three years.


Also, the monthly pension amount should be increased to Rs15,000/- for those belonging to the 80+year age group.

Shirish Sadanand Shanbhag


Good News

This is with regard to “Moneylife Foundation felicitates Constable Azim Shaikh for preventing a railway catastrophe.”

Thank God. Good news to read, at last!

Janakiraman Rajalakshmi


Five Eventful Years
Moneylife Foundation reaches another milestone. In the space of five years, Moneylife Foundation has gathered support of 30,000+ members, hosted over 230 events and is running five helplines. On 7th February, the Foundation will celebrate its fifth anniversary. Do register and join us to hear our chief guest Devendra Fadnavis, chief minister of Maharashtra, who will speak on good governance and how we, as citizens, can participate. This is one event you should not miss. Register online -
It’s tax-saving season, once again. While most savers flock to fixed-income products, such as public provident fund (PPF) and tax-saving bank fixed deposits, many are left confused, with around 15 tax-saving investments to choose from. In our Cover Story, we analyse the host of products available in detail and, consistent with our philosophy of ‘Less Is More’, we prune the list to just three tax-efficient products which you could consider. The three products will help you take full advantage of the Section 80C investment limit and two of them will deliver tax-free returns. The only caveat: your investment horizon should be long term. Hence, consider these products not for short-term goals, but towards savings for your retirement. Which are these three products? Turn to our Cover Story to find out.
With the Reserve Bank of India (RBI) allowing banks to act as insurance brokers, what does this mean for consumers? Sucheta, in her Crosshairs section, questions whether RBI will redress consumer grievances or will it pass them on to the insurance regulator, further harassing the customers. In her Different Strokes section, Sucheta discusses how the current debate on merging public sector banks, once again, ignores the consumer’s interest. 
R Balakrishnan has another outstanding piece this time on stock investing. Many small- and mid-cap stocks are shooting up. What should you keep in mind, when you buy them?  
As always, do write in with your suggestions and comments.


Why Muslims protested against Zakir Naik at the IICC in Delhi
The office bearers and supporters of Ulama and Mashaikh Board, an organisation of Sufi Muslims protested at IICC against inviting Zakir Naik, who reportedly supported terrorists like Osama bin Laden
Over 250 Muslims on Saturday protested against Zakir Naik at Delhi's India Islamic Cultural Centre (IICC) demanding arrest of the controversial televangelist.
“The IICC office bearers need to explain why they have invited Naik who has even expressed his support for terrorists like Osama Bin Laden. He has also been against any kind of concessions to minority religious groups in Islamic countries," Anjum Zaidi, one of the organisers of the protest said.
Naik was invited by IICC to deliver a talk on Quran and Science on Saturday.
The office bearers and supporters of Ulama and Mashaikh Board, an organisation of Sufi Muslims also gathered at the IICC to lodge a protest. "Naik is an enemy of Islam. He is an enemy of Prophet Mohammad and his teachings," they said. 
Accusing Naik as an agent of Saudi Arabia, the said, "We will not allow divisive Wahabism to prosper in this land of Hazrat Nizamuddin and Moinuddin Chishti". 
Former union minister Arif Mohammad Khan also wrote a letter to IICC president Sirajuddin Qureshi asking why Naik was invited at the Centre. " the present times when the community is under siege on account of the misdeed of handful of terror outfits and the whole religion is being projected as religion of terror, it is important to keep in mind the image and impact of persons who are invited by the centre to interact with its members. A casual glimpse of the writings and speeches of Mr Zakir Naik in the past gives enough idea of his stand on terrorism that is plaguing the whole world particularly India since last few decades," the letter reads.
Meanwhile, Zaidi also lodged a complaint at the Tughlaq Road Police Station demanding arrest of Naik under Unlawful Activities (Prevention) Act (UAPA). "We demand that Zakir Naik, since it is established that he has supported terror and terrorists should be booked under UAPA and his role be properly investigated," the complaint reads.
Earlier, in December 2012, Darul Uloom, the globally influential Islamic seminary has slammed the religious views of controversial televangelist Dr Zakir Naik in a fatwa as doubtful, urging Muslims to avoid following him, says a report from Hindustan Times.
“Although Naik, a doctor turned preacher, has gained prominence as a speaker on Islam, he has been a controversial figure because of his disparaging remarks on other religions and radical views. The fatwa said Naik was a ghiar muqallidin, a term used to describe those whose teachings are not directly based on any one of the four accepted schools of Islamic thought and, was therefore, unreliable,” the report says.  



Emi Smart

5 months ago

Dear Sister Tania if you had listen to the voice of Dr zakir naik clearly then I shall answer to your questions but you haven't listen to it just hyper to make Islam Wrong and Dr Zakir Naik is an honorable person he as far as have an voice with Shri Shri ravi Shankar so if you listen to Dr. Zakir and still you have questions you can ask me but if you don't listen to each phase of voice correctly but if you still have question then I shall be here to answer your questions

Tania Majumdar

9 months ago

Zakir Naik said that sex slave and slavery is Halal ... he was trying to put a bad name for Islam https://

Abrar Khan

1 year ago

Please ask these mullah to increase their knowledge in ISLAM, They are just jealous with Naik, Why they have problem if Zakir naik only talk from Quran and Hadish. These Mullah always try to divide the muslim people by creating group like Deoband,Wahabi,Barailwai etc. They never follow what our Quran and Hadish says.


Tania Majumdar

In Reply to Abrar Khan 9 months ago

Do you think ISIS follow true Islam??
Do you think Sex slave and slavery is Halal. that is what Zakir Naik said and if you agree that then you will support ISIS too.
Don't get carried away by false preacher ...

Tania Majumdar

In Reply to Tania Majumdar 9 months ago

see this https://

John Hagg

1 year ago

We have seen that this man Dr. Zakir Naik has converted to Christianity. See this link: https://
Is it true? If so, he should be banned every where.


Tania Majumdar

In Reply to John Hagg 9 months ago

see this too

Tania Majumdar

In Reply to Tania Majumdar 9 months ago


Fadli Rafi

In Reply to John Hagg 11 months ago

No, that isn't true. In fact, Dr Zakir Naik is still giving lectures now, and just see the site of IRF, he is the leader of that company.

sahil iqbal

2 years ago

Fuck off to you who post this news..


Tania Majumdar

In Reply to sahil iqbal 9 months ago

You believe this?? why you are encouraging a false scholar https://

Fadli Rafi

In Reply to sahil iqbal 11 months ago

Hey, muslims don't talk like that, we musn't make Islam go bad. Islam doesn't teach you anything like that.

Ammar Siddiqui

2 years ago

Abdullah wahab is great muslim
No wahabi wahabism people have wrong information about wahabism


2 years ago

I do not know whether Dr Naik is right or wrong on various issues , but he does make a lot of sense most times . Definitely , he should be heard , debated ..and then castigated perhaps . But to say that he is not a Muslim is taking things too far . The existing Mullas are very poor in their knowledge of Islam and science and they see most views as if they were threatening them .


Tania Majumdar

In Reply to rihanahmad 9 months ago

Does this make sense to you https://

Abu Basim Khan

2 years ago

Dr.Zakir Naik is renowned as a dynamic International orator on Islam and comparative Religion.Dr. Zakir Naik clarifies Islamic view point and clear misconception about Islam,using Qur'an,authentic Hadith.He was listed No.3 in Top 10 Spiritual Gurus of India in 2009 and he topped the list in 2010.He is proud winner of so many rewards of Malaysia,Sharja,Islamic Personlity of the year 2013 fromThese Mufti,Qari and Maulana are jealious of Dr. Zakir Naik.They feel inferior to him.They have not ability to face him. dubai.


Tania Majumdar

In Reply to Abu Basim Khan 9 months ago

But he tried to spread wrong massage on Islam see this https://

Naseeh Naseeh

2 years ago

We can understand your(christians/anti-islamists) mindset and your hidden agenda. We muslims are well awakened to just ignore such rubbish reports cooked up by zionists...
We know You couldn't and can never face DR.ZAKIR NAIK ideologically instead you can just adopt such cheap methods....
It is your vain hope to make divisions among Muslims BUT WE ARE UNITED AND WILL BE ALWAYS SO, not to harm anyone but to spread this MESSAGE OF PEACE


Tania Majumdar

In Reply to Naseeh Naseeh 9 months ago

You believe this ... he supported ISIS in sex slavery, see this https://

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