Category: Finance
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Insurance Malpractices LIC Withdraws 34 Policies
What happens next is that you are sold a Policy on which the Agent gets a hefty commission. Though the commissions are said to be uniform some policies do attract a better commission than the others because of the high risks to the insured and better returns to the insurer. Many simply sign on the dotted lines, asking the agent to fill in the necessary details, and hand him over the originals even for photocopying. As it is there is fine print, where your risks are mentioned in such a corner and in such a font type you can not read it, even if you read you can hardly understand it, such is the jargon. The Agent if asked to explain will normally say it is just for the records and you will get your returns or use further confusing arguments. So much so the complaints against Insurance mal practices, forgery have increased, as disclosed by IRDA.
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Secret Files Expose Offshore Funds ICIJ Story.
International Consortium of Investigative Journalists (ICIJ) was founded in 1997. Its mission is to expose the polluting industries, transnational crime networks, rogue states, and the actions of powerful figures in business and government. For details Link is provided at the end of the post. Most of us know that ill-gotten wealth by all and sundry, which includes lawyers, Doctors, Business houses and of course Politicians. Thanks to a series of mind boggling scams in India, like 2G,ISRO, CWG,Maharashtra Irrigation,Helicopter and the forerunner Bofors, even a barely literate person knows that the money is being kept in Swiss Banks and that these banks are very secretive about disclosing the identities of their Customers.
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Banks May Seize Your Small Savings
Most of us are aware of the Financial Crisis, when the Government seized amounts from the Bank account of small investors to manage its financial crisis, which triggered of a run on Banks . by people rushing to ATMs to withdraw their cash. To defuse the situation the EU ,along with the creditors mainly Germany, made out a Bail plan and since it was suggested as being unworkable, a new package was devised. Under this dispensation,Deposits under 100,000 euros will be protected. The reasoning behind this is that these amount are (small amounts) are protected by Insurance! I fail to understand that the Government will be losing the money appropriated ((or Misappropriated) by way of the payment by the Insurers. Even if the Insurance firms belong to private Sector, it will drive inflation further. I do not know which Economic Genius thought out this plan! More than this is an interesting perspective from the ‘Business Insider” Now banks in EU may tap and seize your savings! How long will it take to reach India? I have been voicing about the inefficacy of the Keynesian Economics in my columns for quite some time. First came Argentina,then Greece, Ireland,now Cyprus. Western countries rm down an economic system which is not savings oriented, but spending oriented on unsuspecting Nations by way of lending and squeeze when the Note is duel like Germany has done now to Cyprus.
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Home EMI Default,Taking Corrective Action
Buying a Home through Home Loans is the norm of the Day. Days are past when being a Debtor was considered a Sin and attracted social ostracism. Now if you do not have a Credit card or Loan EMI, you do not belong to the uppity group. Now that you have availed of Home Loan, it is prudent to know what action to take in case of unforeseen default. 1.Temporary problem in Repayment of EMI. This might arise due to unexpected loss of job or expenses incurred in the Family due to Death, Illnesses. In these cases represent the cases to the Lender the details in writing and request them for a minimum break from payment of EMI. This may not be possible, However ,depending on your credit rating, the managers may use their discretion in granting you relief. This also may not be enough. Make sure , if this request is granted, to stick to accepted schedule of payment. You may also request them for a reduced EMIs at longer period of repayment. This may be considered favorably ;this depends on your credit rating, qualifications company you work for or the number of years you have served in a company. 2.Permanent Failure to pay EMI. You have no other option but to ask the Creditor to realize the mortgage and debit your account the balance if any. Handling Collection Agents. Inform th Collection Agent the position and confirm the details in writing to the Creditor. Do not use abusive language. In case the Collection Agents behave rudely including use of abusive language, report to the Link provided here below. RBI is very clear on this.
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Government Takes Savings,People Clear Money from ATMS
The European Union has made the determination that the people of Cyprus are now responsible for the hundreds of billions of dollars in bad bets made by their government and bank financiers, and they are moving to confiscate money directly from the bank accounts of every citizen in the country. Restrictions have been imposed to stop people emptying their accounts or moving their money out the country after the Cypriot government announced that up to ten per cent of deposits will be seized and used to bailout the island’s crisis-hit banking system. The deal with other eurozone finance ministers is the first time that ordinary citizens’ deposits have been directly raided in this way. … One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’ … Under the deal, all bank deposits over €100,000 will be hit with a levy of 9.9 per cent. Those with smaller savings will pay 6.75 per cent. … The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.
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Elite With $32Trillions Control The World
5.These elite meet at every major event where the World Leaders meet, at the back rooms and quietly decide wolrd affairs. Most of the World Leaders are Members of the Societies being controlled by these Wealthy people. They capture Legislative Offices, Media and Manipulate Public Opinion. Please read my blogs on who controls the US Media , media Ownership in India . To what Purpose? Simple Make more money. We are being run by an Oligarchy of a Wealthy Group irrespective of Nations and political affiliations. This is very clearly hinted by Frederick Forsyth in his Book The ICON. “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group. The amount of power and control that this gives them is hard to describe. 4.Unfortunately, this same group of people have been running things for a very long time. For example, New York City Mayor John F. Hylan said the following during a speech all the way back in 1922… The real menace of our Republic is the invisible government, which like a giant octopus sprawls its slimy legs over our cities, states and nation. To depart from mere generalizations, let me say that at the head of this octopus are the Rockefeller-Standard Oil interests and a small group of powerful banking houses generally referred to as the international bankers
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Who Controls The World,Economy Gold Petroleum
If an ordinary man holds back buying, it sounds silly and foolish of a Banker to buy up when the Price is high. This is a part of the strategy to drive the gold Price up. Do you know how the Gold prices are fixed? “The current five participants in the fixing, who must be members of the London Bullion Market Association, are: Scotia-Mocatta — successor to Mocatta & Goldsmid and part of Bank of Nova Scotia Barclays Capital — Replaced N M Rothschild & Sons when they abdicated Deutsche Bank — Owner of Sharps Pixley, itself the merger of Sharps Wilkinswith Pixley & Abell HSBC — Owner of Samuel Montagu & Co. Société Générale — Replaced Johnson Matthey and CSFB as fifth seat
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Fiscal Cliff US Bill Details Overreaction From Corporates
There is furor in the US over the US Bill on Taxes which was passed yesterday with a lot of maneuvering by Obama Administration. There has been a hue and cry over the Bill stating that it will increase inflation for it aims at increasing Revenue without a cut in spending. Those who object to this Bill really mean spending on Social Welfare and expenses […]
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