Mutual Funds – Variable Entry Load – Opportunity for Investors

SEBI has issued a Proposal on 13th Feb’09 for Variable Entry Load for investments in Mutual Funds made through Distributors. This is good step forward for investors who use Distributor’s service to the minimal. They can henceforth pay less by bargaining on the Entry Load. This will be good for both investors and Distributors. For ...

Life Insurance – Protection or Profiteering?

Off Late I have been looking to a Life Insurance Policy for myself. I suddenly had a realisation that I am under Insured going by the Market Standards of Insurance Coverage, so I looked to take an insurance policy. The first hurdle I faced was the numerous policies available in the market, most of which ...

Safer Online Credit Card Transactions in India

RBI has issued a new directive on 18th Feb’09 mandating Banks and Credit Card Companies to put in place an additional authetication/validation for all “card not present” transactions from 1st Aug’09. Further “online alerts” must be provided to the customer for all “card not present” transactions of value of Rs.5,000/- and above. This is a ...

Refund of Wrong Debits in ATM

At some point of time or other, most of us would have had a bad experience at the ATM when the amount we key-in does not come but is debited from the A/c. In most cases, the reversal happens in the next few days and we anxiously wait for the reversal after following up with ...

Transaction Fee on Credit Cards

In today’s (12/Feb/2009) BUSINESS LINE Newspaper, I read an article on Surcharges on Credit Card. I was surprised to read that Charging Extra by the merchant is a voilation of the rules and agreement for acceptance of Card. (I have been all along think this was legal). Read more here (Business Line Website) This means ...

India’s Per Capita Income

Rs 38,084/- That is the Per Capita Income of Indians in FY2008-09, i.e., on average every Indian ‘s annual income is this amount. What can you do with Rs.38,084? With the current retail prices I believe you you will find it tough to live in an Indian City. Most of the people I know will ...

I know an Author Personally, Hurray!

I know an Author Personally, Hurray!
For long being famous is an unwritten and most undermined goal/ambition for many. I think it will continue to be so as long as Human Kind is alive. I have my share of wanting to be famous/well-known or at least know the famous/well-known. The latest addition to the later part is knowing an author personally, ...

Traffic Fines in Tamil Nadu

Fine for Various Traffic Voilations in Tamil Nadu. Next time a cop stops you, you know how much to pay (fine or bribe) TAMIL NADU Offence Code Nature of Offence Penal Sections under M.V.Act and Compunding Fine Amount as per G.O.Ms.No.30 Home (Tr.V) Dept. 11.01.2000 RR 01 Contravention of Section 41 (7) of the Act ...

Reactive Regulators

The title of this post may sound ambiguous. I like to comment on the way Regulatory Authorities work esp. in India and in the Financial World. What is the role of a regulator? Is it just to set right any wrong-doing or is it to prevent any wrong doing? I feel a regulator must emphasis ...