Consumer VOICE

Latest posts our Banking and Finance Blog

Buying Guide: How to get the Best Top up Medical Insurance Plan?

Why do you need a Top up Medical Insurance Plan?

You have not yet taken any health insurance policy.
You do have a basic/regular medical insurance policy with, say, X company but this company does not provide a top up cover.
You have a medical insurance

Read More

What happens to Fixed Deposits in case banks or finance companies go bankrupt?

Various surveys point out that the majority of households prefer to park their money in bank deposits, with less than 10 per cent opting for investing in mutual funds or stocks. Why? Because consumers believe that investing in bank fixed deposits is one of the safest and oldest

Read More

Bank must compensate woman for sharing info with estranged husband

A bank has a relationship of fidelity with its customers and it cannot share their personal information or financial statement with anyone else, the Delhi State Consumer Commission said while holding a private bank, HDFC, guilty of deficient service by providing account details of a woman to her

Read More

Railways must compensate for dosa served with iron screw

The consumer forum in Bengaluru has directed the Chief Regional Manager, Railways, to shell out Rs 6,500 as compensation for serving a dosa with an iron screw in it, to one (retd) Col. RC Gupta. The consumer forum comprising president T Shobhadevi and member V Anuradha said that

Read More

What is 80c?

Taxes are an essential part of the Indian economy. All people, companies or entities who earn more than a specified income are bound to pay taxes to the government which enables the government to earn revenue and let a taxpayer enjoy some basic facilities. If you are also

Read More

How to Apply for a PAN Card Online?

Permanent Account Number is an important document that comes in handy while doing any transaction be it opening a savings bank account or applying for a debit card. It allows the income tax department to track the income of any individual, company, Hindu Undivided Family or any other

Read More

Railways can’t be blamed for chain snatching through window: NCDRC

The Indian Railways cannot be blamed for a chain-snatching incident if the ‘miscreant’ is outside the train compartment, the National Consumer Disputes Redressal Commission (NCDRC) said while quashing lower-fora orders holding it responsible for the loss to a passenger.
The NCDRC’s observation came on a revision petition by

Read More

Currency notes likely to cause diseases: Food safety authority

The Food Safety and Standards Authority of India (FSSAI) has issued a warning that currency notes and coins can cause infection and diseases. The unhygienic and careless handling of currency notes and coins is the reason for infection. The FSSAI has directed the food safety commissioners to organize

Read More

Good news for pensioners: Medical reimbursement cannot be denied because treatment was in non- empanelled hospital

The Supreme Court bench of Justice RK Aggarwal and Justice Ashok Bhushan, in the matter of Shiva Kant Jha versus Union of India, vide judgement dated 13.04.2018, has held that Central Government Health Scheme (CHGS) medical claim cannot be denied merely because treatment was in a non- empanelled

Read More

File Income Tax Return Online with These Simple Steps

Are you curious to know more about income tax e-filing? Do you want to file income tax return online but need some help? If the answer to both these questions is yes, then you would be wise to read on. Here you can know how you can complete

Read More

Have a Grievance against a NBFC? There is an Ombudsman to go to

Thanks to the new Ombudsman Scheme launched this year, individuals investing in fixed deposit schemes of non-banking financial companies (NBFCs) now have a government body to fall back upon in case of deficiency in service including any default in their deposits. This move was

Read More

Latest Income Tax Slabs

Latest Income Tax Slabs, Income Tax Rates and Income Tax Limits for 2018-19
In India, the new year is celebrated on 1st January while the financial year begins on 1st April every year. For some people, the former involves making new resolutions and lifestyle

Read More

Hyderabad Forum slaps Rs 50,000 fine on insurance company

The Hyderabad District Consumer Forum has slapped a fine of Rs 50,517 on National Insurance Company for deficiency of services.
Daredoa Safaraz had subscribed to a group mediclaim policy of National Insurance Company for his wife, father Kurban and himself. In 2014 Kurban developed numbness over the left

Read More

Commercial Vehicle Insurance Claim Process

Filing of Commercial Vehicle Insurance Claim Claims
The increasing number of accidents and incidents of vehicle thefts has made it essential for policyholders to know how to file vehicle-insurance claims. When the accident happens, call your insurance company representative as soon as possible—even

Read More

What Does the Package Commercial Car Insurance Policy Offer?

Before reading the inclusions, exclusions and addons that you should focus on before buying a commercial car insurance policy, understand the below terminologies that will help you to understand the process easily.
Difficult Terminologies Explained
 
Legal liability (as applicable to commercial vehicles

Read More

Inclusions and Exceptions of International Travel Insurance

International Travel Insurance is important to cover the medical emergencies or financial exigencies that might happen when you travel overseas. You need to read the finer print of these policies and know what all is included and what all is not so that you

Read More

Points to consider to finalize Overseas Travel Insurance

Pre-existing medical conditions
Older travellers are more likely to have a pre-existing medical condition (such as hypertension) – and some will find that they are denied cover because of that condition. But there are insurers who will offer cover specifically for older travellers with

Read More

All about Second Hand Car Loans

There are many reasons why you will buy a second hand car (or used or a pre-owned). For instance:
a) You cannot afford the cost of a new car.b) A second hand car is cheaper due to pre-loaded insurance and road tax.c) You can

Read More

Bank Locker Insurance

Do you have a Bank Locker Insurance?
With your jewellery and valuables inside your bank locker you can have a goodnight sleep. Well that is what you think so? However, one gets to read about safe locker thefts frequently and who knows your safety

Read More

Advantages and disadvantages of bank lockers

Bank lockers are one of the safest options to keep your jewelry and important papers safe. Safe lockers are made of high quality thick steel plates with screws fitted on them making it difficult for robbers to break open. But do you know what are

Read More

Tips for Hiring a Locker

We all know that keeping articles safe in a bank locker is the best possible way to keep your assets secured. But how to hire a safe locker that’s just right for you? What are the tips for hiring a locker? Though banks do

Read More

What are the RBI Guidelines on Bank Lockers?

Do you think you really can have a sound sleep thinking your valuables are secured in safe deposit lockers? Well not really. The notification issued by the Reserve Bank of India or RBI on bank lockers clarifies that bank locker hirer in
India is

Read More

What are ULIP returns and why should I invest in ULIP?

The performance of various ULIPs or Unit Linked Insurance Plans, with reference to growth of units, depends on market forces as also the efficient management of investments by the appointed fund managers. Due to the ups and downs in the market based on demand/supply

Read More

What is ULIP or Unit Linked Investment Plan?

ULIP or Unit Linked Investment Plan is a combination of insurance and investment. A portion of the premium paid by the policyholder is utilised to provide insurance coverage to the policyholder, while the remaining portion is invested in equity and debt instruments. The aggregate

Read More

What are Associated ULIP charges?

Your ULIP policy may come with additional associated charges. Please read the terms and conditions carefully before opting for ULIP. These charges could be :

Premium allocation fee

The charge is imposed beforehand on the premium amount. It is a percentage of

Read More

Home Loan Complaints – Grievance and Redressal of NBFCs Home Loans

The RBI has made it mandatory for all NBFCs (Non Banking Financial Companies) to have a grievance redressal officer, whose name and contact details have to be mandatorily displayed in the premises of the NBFCs. Aggrieved borrowers who have home loan complaints can approach

Read More

NBFC Home Loan Interest Rates

Below are the Lending Rates and Interest Rates of NBFC (Non Banking Financial Companies)
MCLR
RBI governs the lending rates in India for financial transactions by financial institutions. Earlier, RBI used to decide the base rate and all FIs would follow that rate

Read More

Features and Home Loan eligibility from an NBFC

Home Loan Eligibility
NBFCs (Non Banking Financial Companies) base their home loan elgibility criteria on the borrower’s profile, which is defined by the following:

Age
Monthly income (gross and take home)
Spouse’s income
Assets and liabilities
Stability of occupation
No. of dependents
Savings

Read More

Home Loan Insurance from NBFCs

Almost all NBFCs (Non Banking Financial Companies) insist on insurance cover on the property mortgaged for a home loan, to deal with unforeseen calamities (fire, earthquake, floods, etc.). In fact, borrowers who avail a home loan against property mortgaged to the NBFC should also go in for life

Read More

Bank with Care

Even if you have deposited cash with your bank in the prescribed format, with a valid counter-foil, there can be a freak chance that the money may not appear in your account. Therefore it is important to keep one’s guard up with every

Read More

Insuring against Tsunami

In the wake of the recent tsunami that hit Japan and the 2004 tsunami that devastated the coastal areas of India, a question has arisen- if an insurance coverage is available in India? However, in India tsunami’s has been reported as far back as

Read More

Hallmarking of Gold

Hallmarking of GoldWhy You Must Look for It
Gold is a precious metal held dear across the world. It is a wonderful ornament to wear as well as a hedge against inflation and falling markets. Gold can also be liquidated easily. However, it is

Read More

Gemstones: Fortune or Business Creator

Gemstones: Fortune or Business creator

Yellow Sapphire (Pokhraj) for prosperity, Neelam for wealth and Gomeda for job. These are the few characteristics of the gemstones which are seen as an important part of the astrology. Today, astrology, not only have continued to sway the

Read More

Operational Guidelines: How to use a Travel Card

Travel cards give you freedom from carrying cash on an international trip, however there are some operational guidelines of how to use a travel card. What all dos and don’ts to follow on a foreign land so that the memories that are carried back

Read More

Travel Cards: All FAQs answered

Consumer VOICE experts compared 8 travel cards on basis of cross country transactions, issuance fee and other parameters to list the best travel card.

@import url(http://consumer-voice.org/wp-content/plugins/siteorigin-panels/css/front-flex.css); #pgc-11494-0-0 , #pgc-11494-1-0 { width:100%;width:calc(100% – ( 0 * 30px

Read More

FEMA Act 1999 or Foreign Exchange Management Act, 1999 (FEMA)

The Foreign Exchange Management Act, 1999 popularly known as FEMA Act 1999, is an Act of the Parliament of India “to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of

Read More

Credit Card Features

There are various types of credit cards when you apply for credit card and you are offered one based on your needs and repayment power. Before submitting your credit card application, understanding the credit card features will not only help you choose the best credit card but also enable you to

Read More

Types of Credit Card Frauds

If you are a credit card owner there is a chance that you may be subject to credit card frauds like thousands of others around the world. Use of credit cards around the world has increased over the years. Online payments and electronic transfers

Read More

Credit card tips for smart users

A credit card offers unlimited financial freedom. But as all freedom, a credit card too comes with its own set of responsibilities. If used responsibly, a credit card can be a very effective financial tool. Whether you are a first timer or not, people

Read More

Things credit card companies do not want you to know

You and your credit card are inseparable. Right from paying for your groceries, to your child’s school fees or for your movie tickets or flight bookings, credit cards are no longer a status symbol but a necessity. As a result we have enslaved ourselves

Read More

Recovery of Guarantor Loans

Have you ever opted for guarantor loan? Do you think your friends and family will stand by you if you go for a guarantor loan? Well they probably would have refused a few years back but now becoming a loan guarantor is safe and secured. Taking guarantor personal

Read More

The Impact of GST Your Restaurant Bill

The Goods and Services Tax (GST) is set to make a difference to the taxes on your restaurant bills. The next time you eat in a restaurant, your bill will be different-it already is actually. This is how.
As per the system of taxation before GST, the

Read More

Understanding ETFS or Exchange-Traded Funds

ETFs or Exchange-traded funds were once described as the new kid on the investment block, but today they are competing neck-to-neck with traditional mutual funds, literally giving them a run for their money. Both ETFs and mutual funds are viable choices for investors. However,

Read More

SBI asked to return land papers by Ernakulam forum

The Kerala State Consumer Forum has upheld the district consumer forum’s order directing State Bank of India to return the land documents of a Muvattupuzha native as the consumer had already repaid the whole loan amount. As per the complaint of Thomas, he took a Rs 4 lakh

Read More

RBI Banking Ombudsman: Your go-to point for disputes concerning banking services

As part of its grievance redressal mechanism for hearing consumer complaints relating to certain banking services, the Reserve Bank of India (RBI) launched the Banking Ombudsman Scheme in 1995. With effect from 2006, it was brought under Banking Regulation Act, 1949, by government notification

Read More

Goods and Services Tax (GST) Benefits and Features

What is Goods and Services Tax (GST)?
The goods and services tax (GST) is a single rate of indirect tax applied in India. It subsumes all the central and state indirect taxes presently levied – including state VAT, local sales tax, octroi, entry tax,

Read More

Goods and Service Tax GST Rates and GST Slabs List

Goods and Service Tax (GST) Rates
All goods and services will be charged at four rates: 5%, 12%, 18% and 28%. Apart from this there will be a nil tax for items like milk, fresh fruits, vegetables, bread, newspapers and hotels and lodges with

Read More

Pradhan Mantri Pension Yojna (Pradhan Mantri Vaya Vandana Yojana)

Pradhan Mantri Vaya Vandana Yojana or popularly known as Pradhan Mantri Pension Yojana or  Prime Minister Pension Scheme  is a government-subsidised pension scheme for senior citizens.. It addresses  the long-standing concerns of senior citizens (varisht nagarik) who want a pension plan where their savings

Read More

Difference between Atal Pension Yojna and Pradhan Mantri Pension Yojna

Atal Pension Yojana (launched on 1 June 2015) (open for all workers in the unorganised sector; subscribers of Swavalamban scheme can migrate to APY)
PMVVY (launched on 4 May 2017) (Government-subsidised pension scheme)

Minimum entry age is 18 years.

Read More

Stages of Cancer: Claims and Payouts in case of Cancer Insurance Plan

Some facts for you to ponder:

  There are over 100 types of cancers which can affect human beings.
  Any part of a body can be affected at any time and without any warning signals.
  The incidence of cancer is

Read More

Buying Guide to buy the Best Cancer Insurance Plans

Comprehensive Buying Guide by Consumer VOICE experts to help you finalize Cancer Insurance Plans
Q1.  Why  buy a  cancer insurance  policy in the first place?
The following factors may have a role:

The existing health insurance cover by way of a critical illness plan

Read More

All you need to know about Infrastructure Mutual Funds (MF) Investments

Infrastructure mutual funds are mutual funds that invest in the infrastructure sector or its ancillary companies that own, manufacture and operate infrastructure assets or infrastructure projects. Infrastructure is said to be the tangible aspects such as roads, railways, transportation, electricity and so on which

Read More

Types of Mutual Fund Investments

A mutual fund is an investment where it pools the money of several investors and invests this in stocks, bonds, money market instruments and other types of securities. It’s an ideal investment vehicle for regular investors who do not understand much about investing. Investors

Read More

All you need to know about LPG Insurance Cover and Cooking Gas Accidents

The number of reported cooking gas accidents increased from 33 in 2013-14 to 68 in 2014-15  (April 2014 to January 2015). The fatalities due to such accidents shot up from 23 to 37 during the same period, while the number of injured persons increased from 56 to 159.

Read More

HANDY TIPS FOR BIKE INSURANCE CLAIM OR TWO WHEELER

This article will breakdown everything you need to know about two wheeler insurances. It will make the consumer understand all aspects; from tips, suggestions to what is included and excluded under the insurance cover.
Motor Vehicles( MV) Act : this act mandates that all

Read More

Railways ordered to pay Rs 10,000 to passengers

A district consumer forum in Hyderabad has directed the South Central Railway (SCR) to pay Rs 10,000 as compensation to a couple for causing discomfort and inconvenience during their train journey. KK Durga Prasad
and his wife Harika were travelling from Secunderabad to Bellampallay on an AC coach

Read More

Education not commodity, student not consumer: Consumer forum

A youth’s plea against an institute for allegedly not providing him with an internship or job as promised at the time of admission has been rejected by Delhi District Consumer Disputes Redressal Forum (West), which observed that “education is not a commodity”.
The complainant, a Noida resident, was

Read More

Railways ordered to pay Rs 68 lakh to man for permanent disability

The National Consumer Disputes Redressal Commission has directed Western Railway to pay a compensation of over Rs 68 lakh to a man who suffered 100 per cent disability in a freak accident at a railway station in Maharashtra, apart from bearing his entire medical expenses. The apex consumer

Read More

Railways asked to pay up for lost luggage

The Dehradun district consumer disputes redressal forum has asked the Railways to compensate a Dehradun-based passenger for his stolen luggage, stating that the loss was caused due to the “negligence” of railway
officials.
The consumer forum rejected the Railways’ contention that under Section 100 of Indian Railways Act

Read More

Doctor asked to compensate for damaging patient’s eye

Seven years after he lost his eyesight to a cataract surgery gone wrong, Ramesh Dedhia, a resident of Borivli in Mumbai, will get Rs 5 lakh from the eye specialist and the hospital for negligence. Dedhia won the award for the medical negligence perpetrated by Dr Hitesh Chheda

Read More

Hospital ordered to pay 1.5 lakh compensation to woman for deficiency in service

The district consumer court in Thiruvarur, Tamil Nadu, has ordered the district government maternity and children’s hospital to pay a compensation of Rs 1.5 lakh to a woman who became pregnant despite undergoing sterilisation surgery at the hospital in 2007.
The forum in its order said, “The petitioner

Read More

Verification

Recent Posts

Enquiry

Enquire Now

 

Verification