Banking Ombudsman is a system or organization set up by the Reserve Bank of India whereby if your issue with your bank is not resolved within 15 days, then you have the option to take your matter to or grievance to banking Ombudsman for a resolution. Around 24% of complaints received by the banking Ombudsman offices are about matters related to credit cards. According to the annual banking ombudsman report 2010-11, the typical complaints include excessive bank charges, non dispensation of money from ATM, unsolicited credit cards, miss-sold insurance policy, settlement offers informed over the phone and not in writing, wrong debits. To avoid wrong billing disputes it is imperative that you check your bank and credit card statements very carefully and if there is a error bring it to the banks  [...] 

Commercialization of death: Death has opened a way of new innovative business for entrepreneurs in India. This venture run on the principles of spirituality, reverence, cultural norms, rituals whereby organizing last rites of a person are undertaken in a efficient, organized way, crossing all logistical barriers, and give a decent last farewell to the deceased. In India, people who have the means but have no time, or in case they stay in countries overseas now can contact a company and for a fee agreed will accept and undertake to carry out the last rituals according to the wish of the deceased or as per the instructions of the relatives or family members. Like for instance, you have a company in Varanasi, who acts as a one stop shop for all Varanasi cremation related services. For those who  [...] 

Business is an economic activity conducted with the object of making and multiplying money and is related with production, distribution, services, of our daily needs. Each one in this chain of business is trying to fulfill the basic requirements and needs of human beings to survive. The basic characteristics of business are- It is basically an exchange of goods and services for the survival of the mankind. Every chain of business has a large number of transactions. Profit making is the main motive of business, and the profits generated help us in providing our basic needs. Profits from the business help in generating various taxes for the government which in turn also helps the country in developing infrastructure, facilities for citizens, provides security by our armed forces, civic amenities,  [...] 

In these stressed out times of economic downslide, failing stock markets, job cuts, pay cuts, high rate of interest, inflation, we human beings have a tendency to fall in the debt trap. To escape the debt trap the golden rule is don’t panic and be positive as this too shall pass. To escape from the debt trap one must follow these basic steps: To stop unnecessary expenses and must spend only on the basic necessities of life which are necessary for survival. Cut down your entertainment. Don’t indulge in shopping at any cost. Try to work out and analyze your debt outstanding and your income and work out a budget to run your life and pay your debts partly. Work out the priority and urgent debts like your rent / children’s school fees/ utility services, taxes and pay them first and balance  [...] 

Weak Indian economy, inflation has taken a heavy toll on the Indian vehicle sales. Negative business sentiment has gripped the vehicle industry.cv sales, a indicator of economic activity in India had grown by 18% last fiscal (eight lacs unit) will just touch double digits  and not a impressive demand for medium and heavy duty vehicles. The rise in the excise duty by 2% in the budget and 3% for the vehicles whose bodies are manufactured by local vendors has pushed up the prices of all vehicles. The price rise has been passed on to the actual buyers of the vehicles by the manufacturers and hence the sales of the vehicles has gone down as the buyers feel the pinch of price rise and have no inclination to buy vehicle at this point of time. It normally takes six to eight months for the buyers of  [...] 

Getting a cheap home insurance quote takes time and perseverance.  Go online and search through the various comparison sites and then with the insurers who are not featured on those sites to get a cheap home insurance quote.  But beware that once you have been given a quote, you will probably be invited to take up certain ‘extras’ that can bump up the cost of your premium considerably. The insurance companies will sell you a basic home insurance policy that should cover everything you need (check for exclusions in the small print before signing up, though) but will then be at pains to highlight what wouldn’t be covered by that policy in the hope that you will think ‘better safe than sorry’ and buy the extras. With car insurance, such extras include legal cover, no-claims bonus protection  [...] 

Economy of major super powers and most of the countries across the world are burdened with recession, inflation, job cuts, pay cuts, falling stock markets, high rate of interest, crumbling real estate market, no investment seems to be safe and stable these days except for gold-is the safest bet all over the world. The rising prices of gold even in this critical period has raised the confidence levels in economy and has brought a positivity to the environment. Indians love gold and are very emotional about it and love to flaunt it as a status symbol but in recent times gold ornament business is down as people love to buy gold coins and gold bars for investment and with the rising demand in China, it is not too far when china beats India in gold consumption resulting in increase in the gold prices. The  [...] 

The country’s most successful captain and youth icon for fair aggressive cool attitude has once again back in action. In the first of its kind business venture for any sportsman in the country, Mahendra Singh Dhoni is setting up a chain of gyms across the country, with the brand name- SPORTS FIT. The investment involved in this enterprise is about Rs.5000 crore. The first four of these gyms will open within four to eight weeks, and the rest will be set up in five years. The gyms would be run either as company owned or as franchisees. While Dhoni is the promoter of this venture- SPORTS FIT WORLD PVT LTD- a few investors have also invested some capital in this venture and they will hold  a minority stake. Though Dhoni’s teammates have ventured in to other businesses like restaurants, foods  [...] 

Streamlining procedures to increase the foreign investment into the country, the industry and commerce ministry allowed FII to invest up to 23 % in commodity exchanges without having prior approval. Currently the total overseas investment via FII and FDI is 49 % in commodity exchange, and within this limit FIIs investment was 23 % and FDIs 26 % and for this prior approval was required. After the RBI approval, companies can allow FIIs to hold more than 24 % after the approval for the same by board of directors and shareholders. Further the government has also permitted foreign venture capital investors to invest in the eligible securities like equity and debt, by way of arrangement and purchase from a third party also, subject to stipulated terms and conditions. Industry is concerned with the  [...] 

Banking is an essential part of our everyday living. Almost daily we need to have some transactions with banks be it at the home, personal front or many a times from the official or work front. But in either case we need to be aware of banking. Banking is very simple, yet there are possibilies of people out on the look out to con you. Therefore we have bought to you some tips for safe banking: It is recommended to choose a bank which has recognition by RBI (Reserve Bank of India). If any stranger or for that matter a person who is not well known to you approaches you for an introduction letter to open an account in your bank, it is better to refuse to do so. Do not, under any circumstances en-cash cheques or drafts of people who are unknown to you through your account. It is potentially dangerous  [...]