PERSONAL FINANCE


To entice buyers to make hasty decisions at the close of the financial year, insurers are making rampant use of stolen records The insurance industry is possibly the biggest user of stolen databases of customer information. Sometimes, this has its advantages. Many of us have figured out...

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IRDA should look at it from not just revival of lapsed policies, but from customer service angle The Insurance Regulatory and Development Authority (IRDA) has recently issued an exposure draft on orphan life insurance policy. The guidelines allow 100% of renewal commission to allotted agent for...

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Moneylife Digital Team 15 March 2012
For hassle-free income-tax (I-T) collection, RBI has designated 926 computerised branches of public and private sector banks to receive advance tax payments from people residing in Mumbai and Navi Mumbai. Of the 926 bank branches, 862 are public sector bank branches, while the rest are...

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Moneylife Digital Team 15 March 2012
Movida, a mobile payments joint venture by Visa and Monitise, has signed an agreement with HDFC Bank to introduce a mobile payment service. The service allows HDFC Bank’s customers to pay bills, top up prepaid airtime and buy tickets. It is designed to operate across all mobile networks using...

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Moneylife Digital Team 15 March 2012
Indian Bank has introduced an account portability feature which allows its customers to retain the account number even if they change the branch. The facility would enable customers to have the freedom of operating his/her account from any branch with just a change in home branch code. Customers...

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Moneylife Digital Team 15 March 2012
Bank customers in India are growing more comfortable with using their debit cards for purchases, according to Visa’s latest Global Payment Tracking Survey 2011. Debit card penetration in India is at 53%, a 4% rise over that in the previous year. This increase can be attributed to Indians’...

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More annuity products are coming to the market. Customers will benefit, especially with IRDA specifying that the annuity phase should be from the same insurance company that sells the pension product. Some existing annuity products offer low return, so buyers beware Annuity is not a...

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Insurance is mainly an investment vehicle now. Can we look beyond? It is good to see a host of life insurance companies actually talking about the features of their insurance products. All these years, their high decibel, celebrity-starring advertisements were used to shove expensive...

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Moneylife Digital team 12 March 2012
The stylish Reliance CDMA Tab comes with a 7-inch capacitive touch screen with Android 2.3 OS. Reliance Communications, India's fully integrated telecommunications service provider became the first CDMA operator in India to enter the Tablet space by unveiling its ‘Reliance CDMA Tab’, a fully...

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Many are stuck with wrong life insurance plans. Financial planners often advice you to surrender the policy and use the money for better investments. Raj Pradhan finds that is wrong advice in most situations. Find out when and how you should surrender life policies Many people are...

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Moneylife Digital Team 07 March 2012
Tata Megapixel offers a range of up to 900 km with a single tank of fuel On Tuesday, Tata Motors presented at the 82nd Geneva Motor Show the Tata Megapixel, a new four-seater city-smart global range extended electric vehicle (REEV)  concept for the performance-seeking and...

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Moneylife Digital Team 07 March 2012
Allows only one consumer representative who has to be IRDA-nominated IRDA has finalised the structure of the much-awaited health insurance forum. The forum will provide assistance and advice to IRDA on issues relating to health insurance. It will help in evolving policies, standard processes...

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Moneylife Digital Team 06 March 2012
In many cases like wrong reporting to CIBIL, upgrading credit card without consent, mis-selling and blank clause in loan agreement by banks, the Ombudsman has ruled in favour of the customer Banking customers continue to run from pillar to post to resolve their grievances, however, many of...

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The introduction of white label ATMs will not be an unmixed blessing, unless RBI keeps a tight vigil over their operations. Whether they will prove white elephants or not will depend on what safety precautions will be mandated by RBI to be complied with by all the stakeholders The Reserve...

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Jeevan Vriddhi is designed to attract money from the tax-savers who are desperately seeking avenues to park up to Rs1 lakh. While there are other similar plans in the market, it is LIC’s product that will command attention because of its muscle power Life Insurance Corporation of India (LIC)...

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HDFC, Axis and ICICI Bank offer less than the minimum savings rate interest (4% p.a.) for fixed deposits with a tenor less than 15 days. Do you wish to sign-up for a 7-14 day FD from Kotak Mahindra bank at 0% p.a.? Who is the target customer segment for these products? It may sound strange,...

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Moneylife Digital Team 02 March 2012
Sahara Life Insurance had several investment issues but IRDA has not pressed charges after getting clarifications from the insurer. Sahara Life Insurance needs to make several changes to comply with the regulations The Insurance Regulatory and Development Authority (IRDA) had many...

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Moneylife Digital Team 01 March 2012
Sahara Life Insurance has been caught for several violations which resulted in a Rs12 lakh penalty. There were 23 issues raised by IRDA, for which Sahara was let off leniently. Did Sahara Life Insurance get away too easily? The Insurance Regulatory and Development Authority (IRDA) has...

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Moneylife Digital Team 01 March 2012
Axis Bank said sales and usage volumes for its travel currency card used for international travel have crossed $2 billion. The Bank claimed that it holds 48% market share in the segment; this was the first time anywhere in the world that any bank has crossed $2 billion in sales for such a card....

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Bharti AXA new online term plan iProtect has been renamed as eProtect. The obvious reason for it seems to be clash of name with ICICI Pru iProtect. It got the plan name approved from IRDA, then why was it renamed? Why did it even take up the same name in the first place? Bharti AXA Life has...

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