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 notice immediately and you cannot settle the dispute without making the payment as that may make you liable for prosecution . Try to resolve the issue with your bank but if you fail to do so, contact banking Ombudsman immediately to resolve your issues in a legal way.

There are cases where you are issued credit card or your credit card is upgraded without your consent and your account is debited with charges, and bank is demanding the outstanding due to them and in that case it is advisable to approach banking Ombudsman.

Also in case of pre closure and foreclosure of loans some of the banks do not issue a no- dues letter stating all dues are cleared and in due course of time the banks also demand the interest and penalty to close the account and banking Ombudsman has the powers to intervene and settle the matter.

Complaints of account getting debited despite the ATM not dispensing the cash are very common now, and the banks refuse to acknowledge the error.

To deter the banks from delaying reimbursing the customer the RBI has issued directives that the banks have to pay Rs.100 per such customers if the matter is not resolved within seven days.

Also CIBIL reports which decide our credit rating do make errors also and the banking Ombudsman helps the customer to rectify the error and upgrade the customers records so that his credit rating changes.

So finally you can knock the doors of banking Ombudsman with all your banking grievances.

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 cannot make it to Varanasi, they just have to courier the ashes to Varanasi and all the rituals and norms will performed and in good humor they also assure that the deceased person will be upgraded and sent directly to heaven for a certain extra fees.

For those who want to come with the body of the deceased or with the ashes of the deceased these companies arrange local transportation, food, lodging, puja and rituals, etc.

These companies are net savvy and also have their websites and are swift and prompt in services.

They also undertake to book a burial ground, or crematorium with all the necessary ingredients required for the same, along with a pujari, priest, kazi.

This is indeed an innovative trend and the business holders have no qualms whatsoever about commercializing the aspect of death. They speak in terms of monetary gains and have a very professional outlook towards this. It is indeed true, that money does make the world go around.

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-

1. It is basically an exchange of goods and services for the survival of the mankind.
2. Every chain of business has a large number of transactions.
3. Profit making is the main motive of business, and the profits generated help us in providing our basic needs.
4. 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, education, medical, roads and transport, etc.
5. Business is also service oriented.
6. Risk and uncertainty are an integral part of any business. One has to run the business with great skill and an analytical mind. A good businessman always keeps his eyes open and more essentially he is a visionary who can foresee the business opportunities, plan and execute the day to day smooth functioning of the business.
7. Business must be run according to the rules and regulations, and laws of the country.
8. An honest business enterprise makes an honest country.
9. Business is the pillar of our society and must be conducted in a very ethical and honest way.

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:

1. To stop unnecessary expenses and must spend only on the basic necessities of life which are necessary for survival.
2. Cut down your entertainment.
3. Don’t indulge in shopping at any cost.
4. 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.
5. Work out the priority and urgent debts like your rent / children’s school fees/ utility services, taxes and pay them first and balance debts can be paid later.
6. Make your credit cards a priority as interest charges are too high and it keeps on piling up to a point that it will be impossible to pay and you will be trapped in a debt.
7. Try to work out and re plan your debts with your banks and if they feel you are a bonafide customer with the intent to pay they might assist you to rework on your debts.
8. Set a personal budget and never exceed the same.
9. Try to increase your income as this additional way of income will help you to settle your debts easier and faster.
10. Give up vices like drinking and smoking.

By following these basic steps you will surely escape the debt trap and be financially secure. Remember the popular saying “Make hay while the sun shines.”

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 the vehicles to come to terms with new price and then the sale of the vehicles starts picking up. Also in the current economic situation inflation and interest rates are also too high and the prices of the vehicles will stabilize once the economy shapes up as our fundamentals are very strong.

Another factor for low sales of trucks is that the mining has been banned in Karnataka hence the sales of the trucks have been hit hard.

Industry experts are of the opinion that this is a short term situation and things will change soon and positivity in the Indian economy is round the corner.

Industry Body Society Of Indian Automobile Manufacturers (SIAM) has predicted a growth of 9 to 11% in 2012-13. For the medium and heavy duty vehicles  SIAM has forecast a growth of 5 to 7% and light vehicles a growth of 14 to 16%.

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 and courtesy car hire.  Buildings and contents cover are also offered with a range of possible extras (such as legal expenses; home emergency/boiler repair; accidental damage; identity fraud), but are they worth having?

A common ‘extra’ is to include accidental damage cover.  Some insurance providers include accidental damage cover as standard, but others exclude such claims.  If your policy doesn’t include accidental damage cover, then if your child throws a toy train straight through your brand new plasma 50” television, your policy won’t cover it (and it will take a lot of years’ worth of pocket money to replace it).   When you think about it, there are a lot of things that can happen accidentally within the home.  Accidental cover can add up to £100 to your premium but is definitely worth it – the cost of divorcing your husband for putting yet another nail through the water pipe is far more expensive than the cost of accidental damage cover on your home insurance premium.   Your excess will mean that minor accidents won’t be claimed for, but anything major is well worth protecting.

Another optional extra is legal expenses cover.  Check whether you already have this through your bank account, as many current accounts offer this within their monthly fee.  If you don’t have it already, it is something you might need in the event that someone sues you (e.g. because they slipped on your driveway or because your roof tile fell off and damaged their car, or because they think that part of your garden really belongs to them).  The cost of legal expenses cover is very small considering what it would cost you in solicitors’ fees to pay to defend or take these actions (typically legal expenses cover adds about £20 to your annual premium) but if you already have it in place, or if you think it’s extremely unlikely that you’ll need it then it is something you can do without.

Home emergency cover will pay for emergency repairs (e.g. to your boiler).  It is often available from gas and electric companies direct, so check how much that would cost and compare it to the cost being offered by your insurers to see if you think it is worth paying.  If your boiler is very old, the parts to repair it may not be available, in which case your cover would not be of any use (it wouldn’t normally pay for a replacement!).

Finally, identity theft fraud cover is available, at a cost of around £80 per year.  But you can usually get the same product within your current bank account; plus if someone steals your identity when you haven’t been negligent then your banks have to replace any money lost anyway.

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 crisis in Europe may spread to other countries too and the business sentiment is not so strong and investing in gold seems to be the best option leading to price rise in the gold.

There is rate cuts all over the world to bring down the inflation but if the inflation continues for a long time and the rate of inflation goes high the bankers will start raising the rates once again making gold more expensive.

Oil prices and gold prices are co related and due to crisis in the Middle East, Iran’s standoff with USA over nuclear issues the prices of oil are bound to rise in near future leading to a price rise in gold.

Gold prices will keep on rising for a very long time to come.

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 and beverages, Sports fit will be first business venture of Dhoni.

The focus of the gyms will be on performance based fitness and the objective will be to set a new a standard of fitness for Indians and become the most ambitious fitness brand. This venture has lots of potential as the youth of India has become highly fitness conscious and need to work out daily.

According to PWC- FICCI report of the wellness industry released in September 2011, the Indian fitness market is estimated at Rs. 4,000 crore, with fitness centre and slimming centers accounting for 65 % of the markets with Dhoni up against strong players in the market like GOLD GYM, TALWALKARS, FITNESS ONE, SNAP FITNESS.

The first of these gyms is coming up in Gurgaon global for years spread across 25000 sq feet, and the other three are being set up in Delhi, Chandigarh, and Faridabad.

The gyms will also open avenues for branding, since Dhoni endorses 23 brands and is a youth icon.

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 Indian capital goods sector, including the machine tools industry, construction and textiles machinery has been suffering because of substandard quality. Hence the government has decided to withdraw the facility of giving equity in lieu of import of second hand equipment.

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:

1. It is recommended to choose a bank which has recognition by RBI (Reserve Bank of India).
2. 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.
3. Do not, under any circumstances en-cash cheques or drafts of people who are unknown to you through your account.
4. It is potentially dangerous to disclose your banking details such as account number, password etc to any other person whom you don’t know well.
5. Self help is the best help. And this should be your motto in terms of banking as it is best advised to handle all your banking transactions yourself and not to rely on any other person.
6. Never pre sign cheques as they may get into the wrong hands.
7. You should carefully check the bank statements and look for any dubious entries.
8. Never count cash for anybody and vice versa never hand over your cash to any one for counting or for any other purpose.
9. Avoid taking to people while waiting in the bank queues as it may be disastrous.
10. Take utmost care of your ATM card.

By following these guidelines to the core, you will protect yourself from a potential conning situation and can be safe.