PERSONAL FINANCE


What takes the judicial system years of deliberation to decide, is very brusquely undone by the FM by an amendment to the law itself - sometimes with retrospective effect. Ameet Patel describes one such feature in this year’s Budget The most talked about aspect of the Budget presented on 29...

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India’s largest lender offers attractive home loan schemes to generate demand, then loses interest when it comes to processing loan requests. One such complaint against SBI exposes the situation Customers lining up for home loan offerings better size up the uphill task ahead of them. For, even...

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Monopoly position enables international behemoths Visa and MasterCard to levy exorbitant costs on client banks; a domestic payment system would be considerably cheaper The country’s central bank, the Reserve Bank of India (RBI), is considering putting in place a domestic card payment system...

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The Indian government is likely to arm the Serious Fraud Investigation Office (SFIO), an investigating wing of the Corporate Affairs Ministry, with powers to interrogate and seize documents among others, following the complaints that it faced problems in probing the multi-crore Satyam accounting...

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It is probably a test mail as yet, but many of us received a missive, ostensibly from the Indian Income Tax department offering online refund on tax paid. The fake email has an authentic looking Ashoka emblem. The email id was a giveaway.   Now the Indian Income-Tax Department has been...

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CIBIL Location Plus will provide comprehensive information like customer identification details and contact addresses along with the reported dates and all the customer contact numbers to member banks. Credit Information Bureau (India) Ltd (CIBIL) has said that it has launched a new product,...

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It’s no secret that the insurance industry has been patiently bearing underwriting losses for a long period. Delayed break-even and expense overruns are just some of the headaches faced by insurance players. At the recently held CII Insurance Summit, industry experts discussed some of these...

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The Unique Identification Authority of India (UIDAI) is working overtime to give every Indian a unique identification number (UID) that would ease complex know-your-customer (KYC) procedures requiring repeated submission of documents. Nandan Nilekani, chairman of UIDAI, revealed the intricacies...

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We all know that the first question a healthcare provider asks before starting any treatment is whether the patient is insured. We suspect that if we reply in the affirmative, the cost of treatment shoots up. No wonder several health insurers are reporting a negative claim ratio which means that...

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Don’t be lulled by the current low rate on home loans State Bank of India (SBI) has announced an attractive housing loan scheme that charges you 8% per annum. While other banks say it’s a gimmick, they have also started announcing offers to match SBI’s scheme. So, the question is: Have we...

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Do not mix insurance and investment, even though ULIPs have become a bit cheaper By putting a cap on what insurance companies can charge on unit linked insurance plans (ULIPs – really a mutual fund product), the Insurance Regulatory and Development Authority (IRDA) has made a good beginning....

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Shalini Amarnani 27 August 2009
You can buy a variety of insurance products online. But what are the pros and cons? Shalini Amarnani explains The Internet has brought the marketplace into our homes. You can buy books, clothes, appliances, homes, services and even financial products online. Insurance products (other than...

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In its effort to profile potential future employees, Tata Consultancy Services has conducted a survey of India's youth which covered their educational interests and usage of technology along with information access and social networking preferences. It has identified the youth in four...

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My friend had an interesting question for me the other day as I was grappling with this column deadline. He said, you have been writing for so long, but do people really take career advice seriously? His point was that opinions of experts are acceptable as long as they are convenient, but make...

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Insurance companies offer unusual cover for businesses and individuals. Pallabika Ganguly explores You have insurance for life, car and house. If you are a businessman, you take cover for things like marine cargo or fire that protects your goods. But did you know that you can buy some unique...

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RBI says the waiver of pre-payment penalty is applicable only for home loans carrying floating rate of interest. Why are borrowers who had obtained home loans on fixed interest basis being left out?   he Reserve Bank of India (RBI) has, through a circular dated 5 June 2012, finally...

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Here is an example of how employees initiated change. Why can’t we do this at broader levels? This piece is inspired by the poor voter turnout in the recent elections in Mumbai, the centre of commercial activity, India’s financial capital. Even accounting for the fact that elections coincided...

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What to do when the work culture suddenly deteriorates Recently, a friend was telling me about what goes on at her office. She works with one of the larger global companies. The company has been, and continues to be, successful. However, in the struggle to stay afloat, it has compromised on its...

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Values-based workplace will emerge In my previous article, I talked about the possible changes in industry and culture as the outcome of recent events and circumstances. My key perception was that all the transformation that the world is witnessing today is a result of what happened in the...

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