Citizens' Issues
Public Interest Exclusive
Now MLM selling assured returns for kits on share trading!

BSB Trading promises dubious double your money in a matter of months

While offering guaranteed returns from trading in equities is impossible, many multi-level marketing schemes are luring gullible investors by assuring them huge returns. BSB Trading House is one such company. It claims to be in the brokerage service business. The twist is that it also sells 'kits' which gives certain income based on binary, referral and other plans-typically allotted by any MLM scheme.

BSB is a part of Big Sale Retail Bazaar Pvt Ltd, with its corporate office in Delhi at Govind Puri near Metro Station. It claims to provide brokerage service in equities, commodities and also in the futures market. This company is mass mailing its services with the objective of luring the greedy.

According to the information on company's website, after registering with a payment of Rs500, one can buy the kits. The company then invests the money by identifying "emerging market opportunities where we can anticipate best returns". There are three kits-basic, advanced, and standard sold for Rs4,999, Rs9,998 and Rs14,997 respectively. However there are certain restrictions. For instance, in the basic kit, a discount voucher of Rs500 per month for 10 months can be used. And one such discount voucher of Rs500 will be adjusted in the billing amount of Rs2,500. Similarly in advance and standard, the discount vouchers can be used for 20 months and 30 months respectively.

BSB claims that once your registered ID top-up of any of the three kits is done, the amount would double after five similar top-ups are done anywhere in the company. So Rs4,999 will double to Rs10,000 and so on. Again these five IDs could also be entitled for double income after five more persons joins the company.
 
Further, the company guarantees assured returns in case the money is not doubled in 15 days. Accordingly, for the basic kit 20% assured returns is given on the top-up for 10 months, 25% in case of advance kit and 30% for standard kit. This apart, BSB also promises 10% on each direct referral given by you to join the company. Like most of MLM schemes, BSB also assures binary income. Enrolling two members on each side (1:1) is essential for binary income.

BSB currently is also offering pre-launch rewards. For enrolling 11 pairs it rewards with a mobile, for 25-a laptop and further for 999 pairs-a Honda City and so on.

The company specifically mentions for every payment there is guaranteed returns or else the payment amount will be refunded by the company.

All these features are a sham to create a chain money scheme. These binary business models are bound to collapse after the chain has spread wide enough for the promoters.

User

Public Interest Exclusive
Save electricity using new BEE phone app

The Bureau of Energy Efficiency, which has launched a mobile application “AC Power Saver” will enable consumers to calculate energy consumption and potential savings

In order to give boost to the consumer awareness on energy efficiency, the Bureau of Energy Efficiency (BEE) has developed a mobile phones application "AC Power Saver" enabling consumers to calculate energy consumption and potential savings. The application will be freely available for Android, Blackberry and iPhone users.  Recently the statutory body also announced that its energy efficiency regulations for air conditioners unveiled  in January this year would help BEE to save up to Rs1,000 crore by December 2013.

The BEE in a press note said, "These tools will help consumers calculate the expected annual electricity bills and the potential savings. Users can get an idea about their savings on their electricity bills if they buy higher star rating air conditioners. For a wider reach, a dedicated web site www.saveenergy.co.in, has been created with all necessary information including the energy calculator."

Ajay Mathur, director general, BEE, was quoted in PTI, saying, "These standards which came into practice from 1 January 2012 would save us 200 MW of additional power generation capacity or savings of about Rs1,000 crore by December 2013."

Since January 2012, BEE which is under ministry of power, had upgraded the energy efficiency standards by about 8% for star rating split air-conditioners. While star labelling program for air-conditioners, frost free refrigerators, tubular florescent lights, and distribution transformers began in May 2006 in a voluntary phase, it was mandatory by the BEE from 7 January 2010. "Energy is critical for India, and the demand for clean and efficient energy devices is growing rapidly. We are happy that our initial steps in introducing star labelling for air-conditioners has borne such good results," said Mr Mathur.

BEE has also organised a training programme for air conditioner showroom salesmen on the star labelling criterion. "BEE has already trained 1,544 salesmen in India across six cities and plans to continue with this effort. These trained salesmen help consumers make an informed choice with respect to energy efficiency while buying home air conditioners."

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Bank of India cuts home loan rates

The new rates for home loan will be 10.5% for loans up to Rs30 lakh, 10.75% for over Rs30 lakh but less than Rs75 lakh and 11.25% for those above Rs75 lakh.

Mumbai: Following its larger peers, the state-run Bank of India (BoI) on Friday announced reduction in its home loan rates by up to 0.75% as well as a 0.25% drop in the base rate to 10.5%, reports PTI.

The new rates will be effective 1st May the bank said in a statement. Accordingly, the new rates will be 10.5% for loans up to Rs30 lakh, 10.75% for over Rs30 lakh but less than Rs75 lakh and 11.25% for those above Rs75 lakh.

The rates are floating ones and are linked to the bank's base rate which at present is 10.5%.

Following an unexpected 0.5% cut in the lending rates by the Reserve Bank in its annual monetary policy on 17th April, some leasing banks like SBI, ICICI Bank, and UBI among others have brought down their lending rates or base rates.

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