Compensate bank customers if they fail to get desired service –Part II

Gurpur | 21/5/2013 @ 12:10pm | 198 views

Penalizing banks and compensating the customers for the delay or deficiency in service delivery standards should form the cornerstone of all banking regulations and create an environment of trust and confidence between the banks and the banking public More

Are you offered discount on MRP or maximum retail price?

AK Ramdas | 20/5/2013 @ 3:00pm | 842 views

Most people assume that MRP is the final maximum rate at which a product can be bought. Actual discussion with a few shops indicates that the MRP is inclusive of their profits and taxes if any. Few smart shopkeepers, in order to maintain and expand clientele, generally volunteer and give away discount on the MRP More

Make ‘basic’ banking services free! –Part-I

Gurpur | 20/5/2013 @ 12:39pm | 1047 views

In the first part of this two-part series we identify certain basic services rendered by every bank, and ensure that these services are offered free of all charges across the board, so that every customer is treated fairly, equitably and in a non-discriminate manner More

Insurance: Health Covers May Cost 20% More

Moneylife Digital Team | 16/5/2013 @ 6:04pm | 421 views

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Banking Services: RBI to Banks: Lower Fees and Costs for Savers

Moneylife Digital Team | 16/5/2013 @ 6:01pm | 415 views

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Online Payment: New Web-based Payment System

Moneylife Digital Team | 16/5/2013 @ 5:58pm | 492 views

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Free-look period policy cancellation is not free

Raj Pradhan | 16/5/2013 @ 12:21pm | 791 views

Did you know that cancelling your policy during the Free-look period has a cost attached? In case of ULIP, the NAV fluctuation is also part of this cost. But, what if the policy has been mis-sold to you? Is there any advantage in bypassing an intermediary to escape and avoid mis-selling and inaccuracies in the proposal? More

Group mediclaim pricing of govt insurers: Are corporate clients being duped?

Raj Pradhan | 9/5/2013 @ 4:56pm | 3118 views

CAG had pulled up government insurance companies for incurring huge losses on group mediclaim. Even today, the premium can be low and there can be huge variation in two quotes received from the same insurer. Are insurers throwing risk to the wind? More

Cobrapost stings again- Exposes money laundering racket in 10 more banks including IndusInd, BoB and ING Vyasa

Moneylife Digital Team | 9/5/2013 @ 3:07pm | 2917 views

Cobrapost has alleged that RBI is acting as a protector, and not as a regulator or enforcer. The RBI is loath to admit that there exists a massive money laundering racket in our financial institutions across the board, because if it were to admit, it would strip the RBI of its halo as a 'one of the best banking regulators in the world', Cobrapost says More

SBI General health insurance policy offers location based premium

Raj Pradhan | 8/5/2013 @ 4:54pm | 1242 views

SBI General retail mediclaim offers differential premium based on your location, which is a growing trend. While the premiums are reasonable, the maximum cover offered is only Rs5 lakh. SBI bank and other bancassurance partners will be the lead channel for the sales More

PNB Metlife refunds Rs25,000 to the correct policyholder: another Moneylife victory

Raj Pradhan | 6/5/2013 @ 6:44pm | 3459 views

PNB Metlife has returned Rs25,000 to the correct policyholder to make up for their error in earlier refund to wrong policyholder, following an article in Moneylife on 2nd May. More

Now pay for check-in baggage as ministry allows airlines to levy charges

AK Ramdas | 3/5/2013 @ 10:56am | 2336 views

Civil aviation ministry has permitted five domestic airlines to charge for various facilities, including a charge for the complementary check-in baggage. This has sent shock waves among the travelling community. Is this practical? How will it affect the regular traveller? More

PNB Metlife online premium payment: You may lose your money for a minor fault!

Raj Pradhan | 2/5/2013 @ 6:57pm | 2905 views

PNB Metlife online premium payment does no verification of the policy number with date of birth, mobile and email address. One policyholder made a mistake in keying in the policy number. Amazingly, PNB Metlife refunded the premium to the wrong policyholder and is washing its hands off! More

Bank depositors should be protected against inflation, demands AIBDA

Moneylife Digital Team | 29/4/2013 @ 6:49pm | 1168 views

Besides asking to protect bank depositors from inflation, the Association wants the RBI to extend insurance cover on bank deposits to Rs5 lakh from Rs1 lakh. The question, however, is who will pay the additional money? More

IRDA stops advance premium payments beyond 30 days. You may face issues!

Raj Pradhan | 29/4/2013 @ 2:23pm | 3836 views

On 12th April, LIC issued circular to all its offices stating that the advance payment of premiums facility is withdrawn. While IRDA may have good intentions for it, there will be many customers who will get adversely impacted. Did IRDA consider genuine difficulties that will arise? More

RBI asks banks to pay 8% interest for delay in crediting pensions

Moneylife Digital Team | 23/4/2013 @ 6:45pm | 1974 views

The central bank decided to delink the penal interest levied for delayed credit of pension, revised pension and arrears from the bank rate plus 2% and charge a fixed interest rate of 8% on such delays More