PERSONAL FINANCE


MDT/PTI 13 June 2012
The Finance Minister said RBI should proactively work and to see if all electronic banking transactions are possible without any charges being levied   New Delhi: Finance Minister Pranab Mukherjee asked RBI to work out a mechanism to ensure that banks charge no fee from customers for...

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MDT/PTI 13 June 2012
The Court said that offences under Section 138 of the NI Act are on high rise" and have massive effect on the economic condition of the victims   New Delhi: A man has been sentenced to six months in jail in a cheque bounce case with the court saying that such offences are on "rise"...

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MDT/PTI 13 June 2012
HUDCO currently doing institutional finance, had not given loans to retail customer in the last two years as the NPA in the segment had gone up   New Delhi: State-owned Housing and Urban Development Corp Ltd (HUDCO) plans to re-enter the retail housing loan segment after a gap of two...

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MDT/PTI 13 June 2012
The RBI action led to many depositors withdrawing their funds with about Rs100 crore being withdrawn since the administrator was appointed   Thane: Stepping in to support the CKP Cooperative Bank, Maharashtra Urban Co-op Banks Federation (MUCBF) has appealed to the bank's depositors...

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G Venkatesh 12 June 2012
You may be nastily surprised that your ATM has run out of money when you really need it On 12 June 2012, we went to Oriental Bank of Commerce at HAL III Stage, Bengaluru, at 8.15am to withdraw money from the ATM. The transaction was declined. We were surprised as this was a Tuesday and...

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MDT/PTI 11 June 2012
The Aviva Health Secure plan provides the policyholder with a lump sum amount on diagnoses of any critical illness covered by the policy New Delhi: Private sector life insurance company Aviva launched online health plan called 'Health Secure', reports PTI. The plan provides the...

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Moneylife Digital Team 11 June 2012
NRIs can visit any SBI branch in the Middle East to open accounts for repatriable and non-repatriable investments to commence investing in Indian stock market Mumbai: Brokerage firm Geojit BNP Paribas Financial Services signed an agreement with State Bank of India to offer portfolio...

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Moneylife Digital Team 11 June 2012
While IRDA rules mandate that the policy document is required to be sent to the policyholder within two months there was a delay of more five months, which prompted the consumer forum to penalise the insurer   A Delhi consumer forum has held Apollo Munich Insurance Company guilty of...

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Shalini Amarnani 08 June 2012
What happens to what you leave behind depends on how you leave them behind. Planning your legacy can be a complex affair. Shalini Amarnani tells you all that you need to know about Wills, nominations, trusts and the rest of succession planning Isn’t it the eternal complaint of all...

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MDT/PTI 07 June 2012
The decision to defer the controversial bill assumes significance as the UPA government would not like to ruffle the feathers of Trinamool Congress ahead of the Presidential elections   New Delhi: With Trinamool Congress, the key alley in the united progressive alliance (UPA) coalition...

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Anil Agashe 07 June 2012
My wife has an auto loan with HDFC Bank. We decided to part pay the loan. I called my personal banker to ask him the minimum amount I need to pay. He told me the loan department has not yet opened for work as yet and that he would let me know in one hour! This is core banking for you. He...

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MDT/PTI 07 June 2012
Removal of the charges or penalty will lead to reduction in the discrimination between existing and new borrowers and competition among banks will result in finer pricing of the floating rate home loans   Mumbai: In a relief to number of borrowers, the Reserve Bank of India (RBI) has...

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MDT/PTI 07 June 2012
SBI's interest rate on 7-179 days fixed deposit would come down to 7% from the existing 7.25%.   New Delhi: Ahead of the Reserve Bank of India (RBI)'s mid-quarter review of the monetary policy later this month, country's largest lender State Bank of India (SBI) on Thursday slashed fixed...

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Anil Agashe 05 June 2012
This is a story of HDFC Bank. Other banks are not any better My wife has an auto loan with HDFC Bank. We decided to part pay the loan. I called my personal banker to ask him the minimum amount I need to pay. He told me the loan department has not yet opened for work as yet and that he...

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KN Murali, head of motor insurance, Bharti AXA General Insurance tells Raj Pradhan   ML: Third-party premium (TP) has not been raised enough to cover the losses. Will it put pressure on ‘own damage’ (OD) premium? KNM: We do not see any reason to push up the price on OD. For...

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Moneylife Digital Team 05 June 2012
IRDA has floated a new website www.policyholder.gov.in to educate and protect you. It will familiarise you with the knowledge required to buy insurance, make a claim, lodge consumer complaints, etc. Also, you will get to know the different initiatives, already in place, and in pipeline, to...

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IRDA has penalised Shriram Life for a few violations and did not press charges for numerous others. The insurer was making payment of referral fees to Shriram Chits, one of its group companies. Referral arrangement with a non-banking entity is a violation and, hence, a penalty of Rs11 lakh...

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Single-premium insurance products were under the scanner of Insurance Regulatory and Development Authority (IRDA) as being risky. IRDA has relented after life insurance companies convinced IRDA that single-premium business is not disproportionate to the overall business and that there is a...

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Cora Currier (ProPublica) 05 June 2012
A suit reveals how Bank of America knew about big losses at Merrill Lynch before the companies merged but didn't tell shareholders When Bank of America announced it was buying Merrill Lynch in September 2008, bank execs told their shareholders that the merger might hurt earnings a touch....

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Distinguished economist and former RBI governor SS Tarapore calls for implementation of guidelines so that families do not suffer due to onerous bank procedures Economist SS Tarapore, a distinguished economist and a former deputy governor of the Reserve Bank of India (RBI), in his column...

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