PERSONAL FINANCE


The press and the media have ignored RuPay, which can bring about a revolution in India. But the ordinary bank customer can help spread the good word The press and the financial and business channels have...

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Anil Agashe 27 March 2012
Goldman Sachs executives invariably described their clients as ‘muppets’, a disparaging term equivalent to ‘bakras’ in Hindi. Indian banks seem to have similar attitude to their customers, according to this first-hand account I am a “classic customer” (whatever that means) of HDFC Bank....

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Moneylife Digital Team 27 March 2012
The South Mumbai District Consumer Disputes Redressal Forum held New India Assurance Co Ltd guilty of arbitrarily hiking the premium and ordered it to refund Rs2,595 with 9% interest (from March 2010), with Rs10,000 as compensation, to Ria Alimchandani. In 2009, Ms Alimchandani was...

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Moneylife Digital Team 23 March 2012
Audi will start selling the car from June this year German luxury carmaker Audi has launched its sports car TT in India, priced at Rs48.36 lakh (ex-showroom). The company will start selling the car from June this year and it will be sold as a completely built unit (CBU). “We are already a...

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Moneylife Digital Team 23 March 2012
IRDA wants softer impact of DTC IRDA has written to the government seeking changes in the provisions of the Direct Taxes Code (DTC) which proposes a minimum level of 20 times the annual premium as cover on a life policy. Currently, an insurance policy with five times the annual premium as...

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Moneylife Digital Team 23 March 2012
SBI General’s tie-up with My TVS and India Assistance ensures that customers get professional assistance and hassle-free services. It also offers an optional add-on cover to vehicles as old as eight years SBI General’s tie-up with My TVS and India Assistance will provide 24x7 emergency...

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Moneylife Digital Team 23 March 2012
Bajaj Allianz Women Critical Illness Plan offers some benefits that are not offered in regular critical illness products. However, there is no competitive advantage with premium pricing Bajaj Allianz Women Critical Illness Plan offers some benefits that are not offered in regular critical...

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Moneylife Digital Team 23 March 2012
Reliance Life Classic Plan-II is a classic ULIP with all its premium charges in line with those of many new ULIPs. It is a classic plan that may be ignored Reliance Life Class Plan-II is a classic ULIP with all its premium allocation and policy administration charges in line with those of...

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Moneylife Digital Team 23 March 2012
Aegon Religare Guaranteed Income offers 7.5% of the sum assured ever year, after the end of the policy premium payment term, until the age of 85. It competes with LIC’s Jeevan Tarang Aegon Religare Life’s new plan offers life cover along with regular guaranteed income. After the end of the...

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Moneylife Digital Team 23 March 2012
Bharti Axa Life eProtect is now the cheapest online term plan for non-smokers while Edelweiss Tokio’s Life-Protection is the cheapest offline term plan Bharti AXA Life eProtect is now the cheapest online term life insurance plan for non-smokers. There is wide difference in the premium between...

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Moneylife Digital Team 21 March 2012
“We hope that this vehicle will be leader in its segment," GM India president and managing director Lowell Paddock. General Motors on launched the Bharat Stage IV emission norms compliant variant of its multi utility vehicle (MUV) Tavera, priced between Rs7.51 lakh and Rs10.34 lakh (ex...

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The Banking Ombudsman might be spending more time in rejecting rather than looking into complaints – it rejected 71% of complaints last year We need a proactive Banking Ombudsman Four years ago, when the excesses of the financial sector led to a global financial crisis, India had its...

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More and more insurance companies are getting hold of your personal details Recently a Moneylife reader started receiving calls from number 30247032 in Mumbai claiming to be from Kotak Life Insurance’s office in Malad (Mumbai). The caller stated that Kotak Smart Advantage ULIP is being...

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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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