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Archive for September, 2007

Bank fined Rs. 1 lakh for lapses in customer account

Imagine the case of a senior citizen (that too, over 80 years old) having a bank account. For such a person (and indeed for all of us), it is essential that institutions such as banks and others that hold money for these citizens act in a proper responsible manner, and ensure that all complaints are [...]

Sebi fines CDSL, NSDL for problems in IPO allotment

When an investor, typically a small investor invests in an IPO, the expectation is that this will be a fair process and that he stands a fair chance of getting the stock applied for, if everything goes fairly. However, if there are people who are trying to manipulate the system, then the companies who are [...]

Movie tickets to get cheaper ?

The reason most movie tickets are so expensive is because of the large amount of tax that the Government charges in the form of entertainment tax. However, for avid film buffs, this extra charge makes movie watching all the more expensive, and something that these people need to be more careful about. In addition, it [...]

SEBI may scrap initial charges for close-ended MFs

The Mutual Fund industry runs on being able to sell funds to investors, and make money out of the initial commission and entry charges. This is something that most consumers do not know much about, and it is primarily SEBI and a few other parties who are trying their best to make sure that the [...]

ICICI Bank recovery agents hound man to suicide

Mumbai: Constant harassment by loan recovery agents appointed by a private bank drove a 38-year-old man to kill himself at his Andheri (E) residence on Monday. Prakash Sarvankar, who was unable to repay all the loan instalments due to illness,wrote a one-page suicide note in Marathi saying that he was driven to take this step [...]



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