Online Banking,Insurance & Financial Services Complain

What do we do when we face some issue with Banks , Mutual Funds , Credit Cards , Insurance Company and such things ? The first thing we do is to file a complain with them for our problems and then we wait for their answer . What if we are not satisfied with there reply and want more justice .

We can then lodge a complain with their regulators Ombudsman and grievance cells . Let us see this in more detail .

What is Ombudsman ?

The ombudsman is the internal complaint department for socially responsible organizations (governments, companies, societies, etc.). The ombudsman has complete access to the organization’s records and personnel, and the knowledge to understand how things work internally, in order to investigate complaints made against the organization.

So we have Bank Ombudsman , Insurance Company Ombudsman and Mutual funds companies Ombudsman etc .

When should you Approach Ombudsman ?

You should first contact your Bank , Mutual funds , Insurance company and file a complain with them , Only after some specified limit of days , when you don’t get any answer or satisfactory answer you can complain with Ombudsman .

What If Obdusman do not reply or take Action ?

    All the Ombudsman bodies comes under the purview of Right to Information Act (RTI act of 1995) . They                                     are legally bound to reply for any complaints made by them ,considering its as per the stated rules .

Banking Operations and Credit Cards

Regulator : RBI

Where to Complain : Banking Ombudsman

Mutual Funds and Stock Market Related

Regulator : SEBI

Online complain click : SEBI Grievance machinist

Track your Complaint Status

Insurance

Regulator : IRDA

Where to Complain(New) Click: IRDA Online grievance

Click for:  IRDA ommbudsman

For more Info or Call TOLL FREE NO:155255

Note : Ombudsman are the next level of bodies to complain , first try to resolve matter personally with the Bank or Insurance company which is creating problem for you 

Are good companies always good investment??

Feature of a Good Company

• Good financial performance
• Efficient Management
• Good corporate governance practices
• Social responsibility 
• Reputed company 

So good company gives good return.No! Not always. There can be times when we can get carried away by a ‘Good Company’ tag and ignore the fact that it may not be a good investment. She penned them down:

Overpricing

The market usually prices stocks of these companies higher; this premium is for the high quality of management and the firm. They are traded at hefty PE and PBV multiples. But, if the market exaggerates this value, the stock could lose its luster over time, thereby leading to a drop in the price. Rupali checked the stocks in her portfolio and found that she had indeed invested in them at very high prices.

High Expection

Whenever Sachin Tendulkar walks out to bat, the country expects him to score a century. Even if he scores a half-century, we are disappointed and the media has a field day with reports of how Sachin could not live up to the expectations. Similarly, investors expect a well-managed company to consistently deliver higher growth than its peers. If the company fails to live up to these expectations, it is penalized by the market by a reduction in the stock price.

Mature Business

The fact that these companies have earned a reputation for themselves indicates that the companies have been around for some time. With age, the company may face stagnancy in business prospects and this may lead to a stage where it cannot sustain such high growth rates in the future. Such stocks will thus have low growth prospects unless the company can innovate or do something to revive its growth.

Sector Impact

The industry to which the company belongs to also plays an important role in determining the stock prices. If there is positive news for the sector, all companies in that sector will trade at a premium. Similarly negative news like regulations that may hamper growth can send the stocks plummeting downwards.

Now You can clearly  understand. In order to put her knowledge to best use she decided to invest in the good companies only after necessary checks. Let’s have a look at what these were.

The best strategy to buy a good company is when it is undervalued by the market. Sounds ironical, doesn’t it? If a company is good and can give superior financial performance compared to its peers, how can it possibly be undervalued?

The answer lies in short term problems like fall in demand, fire in factory, cancellation of projects, recent acquisitions, etc. When such companies are at the center of some negative news, market may sometimes overreact even if the news might not affect the company over a long term. At such times the stock will usually trade at a low P/E, P/BV multiple, thus giving us a golden opportunity. What we need to check, however, is whether the company can overcome the short term problem and grow well in the future.

Posted By-Kavita Kedia

Source-http://stockshastra.moneyworks4me.com

SKS Microfinance

SKS Micro-finance one of leading MFI(Micro Finance Institution ) become hot topic for discussion among the management student.Discussion not only for getting job but also for rural Indian people who makes our life beautiful directly or indirectly.Aug. 16 2010 India's first and only listed MFI  listed in BSE and share price gone up to Rs.1490.The  issue price has been fixed at Rs 985 per share -the upper band of the price range.Within few days share got more than Rs 500 as return.After few month it came to below to issue price. Question is arise why it happened. To know more about it we have to go history ........................

TIME LINE......................

1997-SKS begins life as SKS Society,a non-profit.

2005-SkS turn into profitable organisation.

2007-Profit soared 2Rs.2Cr

2009-Profit Rs. 80Cr

2008-Suresh Gurumani joined as CEO & MD

2010

28 July-SKS go to Public issue @ 985.

28 Sept.-SKS share at an all-time high of 1490.This month sucide in A.P Due to harassment by MFI recovery agent alleged.

4 Oct-SKS  CEO Suresh Gurumani is sacked by board.

14Oct-Andra Govt. passes ordinance regulating MFI particulary in Interst rate and way of recovery procedure.

19 Oct- RBI set up a panel headed by Y.H malegam to study issues and concern of MFI.

22 oct- Court allow MFI's to resume operation in AP

26 Oct- Finances minster Pranab Mukherjee rules out any ore to regulate MFI

27 Oct- Andara Govt. instruct to reduce interest rate 2% and allow to restructuring the loan.

28 Oct- Andra Govt. set up four committees for effective implementation of MFI ordiance.

NOV- Andra Gov. allowed MFI to continue their business.Share price@918

 FEW NEGATIVE NEWS FOR MFI's  

 

1.Intervention of RBI and Andra govt. for interest rate and recovery procedure.
2.Due to MFI's corporate governance bank are restricted to give loan.
3.Andra Govt  passed ordinance  for MFI's 
4.Y.H malegam committees set up to study issues and concern of MFI.
5.CEO & MD sacked by Board.


TWO FACEES OF MICRO-FINANCE

VIKRAM AKULA

FOUNDER

AGE-42

EDUCATION:

BA in philosophy and English from Trufs; MA in international realtions from yale; Phd in political science from University of chicago.

WORK EXPERIENCE :

Founded sks in 1997; joined McKinsey in Chicago as a management consultant in 2004; returned to  SKS in 2005

PHILOSOPHY:

Eradicating poverty profitability.

SURESH GURUMANI

FORMER CEO & MD SKS

AGE-47

EDUCATION:

Studied at university of Madaras between 1979 and 1982; a charted accountant 

WORK EXPERIENCE;

Total 22 yrs; tenures with Standard Chartered, PwC and Barclay; CEO & MD with SKS Micro finance from dec.8, 2008 to Oct. 4 2010.

PHILOSOPHY:

Haul MFIs into modern retail banking. 

SOURCE- ,bseindia.com,sksindia.com,Business Standard

SOURCE- Business India Nov,Business Standard 27 Oct,14 Nov,www.sksindia.com

NEW FLAVOR ULIP.......New guidelines for ULIP product. Effect from Sep 1

Matter	Before	After
Lock-in-Period	3 yrs	5 yrs
Minimum Sum Assured	5 times of Annual Premium	10 times of Annual premium
Top-Up Premium	No Sum Assured charge	Sum Assured charge
Partial Withdraw	Applicable	After 5 yrs
Pension Policy	No S.A Charges	S.A Charges
Guarantee   Return	NA	4.5% only pension policy

Lock-In-period-During this period investor can’t withdraw money

Sum Assured – Insurance Coverage amount.

Partial Withdraw-Withdrawal  of money partial from total premium

Sum Assured Charges- It charged taken by company from premium for insurance converge.

Top-Up premium – It extra premium. Like mobile top-up