Arrest Warrant Issued Against Vivek and Suresh Oberoi

Breaking News! A non- bailable arrest warrant has been issued against actor Vivek Oberoi and his father Suresh Oberoi in a cheque bounce case, which put the actors in a major trouble. The Oberois had allegedly issued a cheque worth Rs. 3 crore, which was bounced. A Metropolitan court issued a non-bailable warrant on the basis of a complaint filed by Jawaharlal Agicha.Suresh Oberoi's relative and his company's MD Anand Oberoi and his manager Anil Lalwani had approached Agicha for the financial aid to the company for the promotion of their brands in India as well as abroad.According to the complaint, Agicha was issued...

Read More

Real Estate - What Does The Future Hold?

The Reserve Bank of India (RBI) raised the interest rates by a higher-than-expected 50 basis points recently, stepping up its fight against persistently high inflation. The Reserve Bank of India increased the repo rate to 8%. The market had expected the hike to be around 25 basis points. Annual headline inflation has accelerated to 9.44% in June. Inflation rate measured by the Wholesale Price Index (WPI) stood at 9.06% in May and at 10.55% in June last year. This is way ahead of the comfort zone of the government.Real estate developers and home buyers will feel the pinch of higher interest rates, which could slow down home sales....

Read More

CBI Rejects Ramdev's Aide Balkrishna's Plea

Balkrishna on Thursday sought 20 days time to appear before the CBI for questioning in a case under the Passport Act, claiming he has applied for a UK visa and his travel document is with that mission. The agency, however, rejected his plea and asked him to appear without the passport tomorrow for questioning, CBI sources said. The CBI had asked him to present himself for questioning today but sources in the agency said Balkrishna sent a fax in the morning, saying his passport is with the British High Commission for visa purposes and a reply from there was expected after about 20 days. In his fax, Balkrishna said he was also consulting Supreme Court lawyer Ram Jethmalani and pleaded that any other date after 20 days may be given to him. He said he came to know about the...

Read More

Be Careful At The Indian Airports

Be Careful at the Indian Airports, This is a well organized conspiracy by Indian Immigration, Police, Customs and Air India staff with networking at all the Indian International Airports.. Be careful when ever you give your passport to Immigration/ Customs/Air India staff. The pass port can be easily tampered and can create trouble to you. They have found easy way of making money from NRIs. This is the way it works:At the time of the passenger's departure, if the passenger is not looking at the officer while he is stamping the exit, the officer very cleverly tears away one of the page from the passport. When the passenger leaves the immigration counter, the case is reported on his computer terminal with full details. Now all over India they have got full details of the passenger with Red Flag...

Read More

EMI Can Now Be Slashed

A quarter-on-quarter hike in home loan rates for the past 18 months has made things difficult for existing home loan customers. Home loans have now touched an eight-year high following the RBI’s 50 basis point hike on its repo rate (the rate at which the RBI lends money to banks).Financial planners say the series of hikes affected the budgets of most families as 90% of new borrowers opted for floating rates during the low-rate-teaser-rate regime.This means a small fraction of the fat EMI you pay goes towards the repayment of the principal amount while the bulk goes in interests. With interest rates on housing loans breaching the 12% per annum mark, existing borrowers face the prospect of either paying the same EMI for the rest of their lives or liquidating the nest-egg fund to pay a part of...

Read More

Rs10 lakh, The EMI Will Additionally Increase By Rs350

Will there be a slowdown in the real estate market? Will property prices crash? These questions plagued experts and home buyers after the Reserve Bank of India (RBI) on Tuesday decided to hike lending and borrowing rates by 50 basis points.This might result in developers pressing the panic button and start disposing of flats in their remaining inventory to pay off mounting debts and interest.“High volumes of houses on sale will decrease property rates in the city. But, if developers do not succumb to the RBI's pressure, property rates may rise again,” said a real estate expert. This is the 11th repo rate hike in the last 16 months to tame the high inflation.“Bankers will increase key policy rates that will have an impact on the interest rates on various loans. So, if person has taken...

Read More

IRDA For More Cos To Participate In Pension Market

The Insurance Regulatory and Development Authority (IRDA) on Friday said that domination of one company in the pension market could be risky and it was important for other insurance companies to participate actively, reports PTI."There is a structural problem that will unwind for the regulator and the industry as a whole, and will affect the country. More than 90% of all the pensions are actually in the Life Insurance Corporation of India (LIC). There is such a huge concentration in one institution. I think that is a recipe for high risk," IRDA chairman, J Hari Narayan, said at an insurance summit here."I think it is too much of a risk to be allowed to continue. Therefore, we must build up mechanisms which allow other companies also to participate actively in the pension market," he...

Read More

Real State - To Buy Or Not

The real estate market is hanging on the razor’s edge and multiple triggers are slowing the market down. This article examines the current trends in the realty market. Funding pressures The sector is facing funding woes in the current environment of rising rates. The Reserve Bank of India had raised interest rates in June 2011 for the 10th time since March 2010. Further, inflation as measured by the wholesale price index rose 9.44 per cent in June, up from 9.06 per cent in May, thus smashing hopes of a pause of a further rise in interest rate. This has led to higher costs for the buyers. According to analysts, purchasing activity which...

Read More

Noida Extn Takeover Spared Ex-MLA

Quashing acquisition of 589 hectares of land in Patwari village in Noida Extension by the UP government, the Allahabad High Court upheld the farmers’ stand that authorities breached their right to equality with a “pick and choose” policy in acquiring land by sparing a select few, including one belonging to a former MLA. Perusing a survey report adduced in court as it adjudicated the challenge to the land acquisition by 11 farmers, a division bench of Justices Sunil Ambawani and S S Tiwari noted that the actions of the government authorities, including Greater Noida Industrial Development Authority (GNIDA), was “vitiated” since the farmers’ fundamental right was transgressed upon. “We also find merit in the appellants’ plea that the acquisition of their land is vitiated due to...

Read More

Part-Time MBA Courses- Why?

What is the first thought that comes to your mind when you hear about Part-time MBA Courses? Or shall I say, do you know about part-time MBA? Is it some kind of correspondence course? Is it useful? Oh, there is no ROI in part-time courses... Most of the working executives face such questions. In this article, I would be addressing some of these doubts.The objective of these courses is 'two-way' learning. Now you would wonder what is two-way learning. Management education in India has been heavily bent towards full-time MBA. The creamy layer of full-time MBAs become heroes in media. Media seems to neglect that fact that the highest salary getter always have very strong experience. Most of the full-timers join to earn money, and it becomes more relevant when the percentage of joiners are freshers...

Read More

ICICI Lombard, Star Health & New India Assurance bid for insurance scheme for poor

Three general insurance companies - ICICI Lombard Health Insurance, Star Health Insurance and New India Assurance Health Insurance - have bid for a lucrative Maharashtra government health insurance scheme for poor, a scheme the general insurance council (GIC) said companies should 'desist' from because of a 'refund' clause.The GIC is a statutory body under the Indian Insurance Act 1938 and represents all non-life insurers in the country.There are 22 general insurance companies in India. Most of them abided by the GIC directive but others went ahead and submitted bids for the Rajiv Gandhi Jeevandayi Arogya Yojana (RGJAY) scheme of the Maharashtra government.RGJAY's CEO, K Venkatesham confirmed to ET that ICICI Lombard, Star Health Insurance, and public sector New India Assurance, are the three...

Read More

Salman-Sanju Baba to host season 5 of ''Bigg Boss'' together

Mumbai, Jul 20 (PTI) For the first time, popular reality show 'Bigg Boss' has roped in two Bollywood actors to host the show. 'Dabangg' star Salman Khan and actor Sanjay Dutt will come together to host the fifth season of 'Bigg Boss'. The show is expected to go on air in October. "Over the last three years, Colors has taken 'Bigg Boss' to newer heights of entertainment and popularity. Now, with both Salman Khan and Sanjay Dutt as hosts, we are sure that the appeal of 'Bigg Boss- season 5' will touch unprecedented heights," Head of Programming, Colors, Ashvini Yardi said. Salman, who had hosted the fourth season of the reality show, is the only celebrity, who will be hosting this show for the second time. 'Bigg Boss' is a reality show where celebrity contestants stay in a house...

Read More

Safe Banking - Know About More Fraudulent Methods

With growing usage of the Internet for banking transactions, fraudsters are constantly coming up with ways and means to steal money online from unsuspecting victims like you. The most common type of online account theft, is called 'Phishing'. Please visit our Safe Banking section to know about more fraudulent methods of extracting your confidential details.While we make every effort to protect your account, it is very important that you do not share your confidential banking information with anyone and take precautions to safeguard yourself against online frauds.It is really easy to transact online in a safe manner if you take some simple...

Read More

Bankers Want a Halt To Interest Rate Hikes

Amid a steep slowdown in credit off-take and an unexpected spike in deposits, bankers on Monday urged Reserve Bank of India to hold the policy rates at the current levels, and sought a clearer picture on the future interest rates and inflation scenarios at the policy review next week. "Credit growth has been too lax for some time now. So we want the monetary authority to send out to a signal that there is a pause on rate tightening. Such a stance can send out the right signal to bankers as well as the industry.We have also urged RBI to come out with a clear statement on the future interest rate and inflation scenarios in the July 26...

Read More

Employee Mediclaim Benefits Set To Shrink

If you're banking solely on the health cover provided by your employer to take care of your and your family's insurance needs, it's time to change the strategy. You will have to beef up your insurance portfolio with an individual policy as group policies offered by employers are slowly undergoing a transformation. Restrictions, such as those on room rent and sub-limits on claims, which were a part of individual mediclaim policies so far, are slowly being incorporated in group insurance covers too.Compare Indian Providers Rates Of Family Health Insurance [Sour...

Read More

LIC Housing Finance plans to launch Rs 500-cr fund in Sept

LIC Housing Finance Ltd plans to launch a Rs 500-crore venture capital (VC) fund for urban infrastructure development by September, according to its director and chief executive officer, V K Sharma. Speaking to reporters on the sidelines of the company’s property exhibition here today, he said LIC Housing Finance had already started the process for launching the fund. The company is also planning to launch a pure fixed rate housing loan product.LIC Housing Finance would raise interest rates if the Reserve Bank of India (RBI) increases its key policy rates. “The increase in interest rates is squeezing our margin. We did not increase the...

Read More

Muthoot Finance To Offer Loans Against Gold ETF Units

Muthoot Finance Ltd, which claims to be the largest gold finance NBFC in India, on Friday said it will now offer loans against Gold ETF (Exchange Traded Funds) units as security.Launching the service, Muthoot Finance Ltd Managing Director George Alexander Muthoot told reporters here that the loans against gold ETF units was a scheme through which Muthoot Finance plans to venture into a totally new segment of gold financing, which would not only add value, but also enable the company to service the financial requirements of newer customer segments.The new scheme would come into force by this month end and would enable the customers to avail finance...

Read More

TCS Beats, CLSA Says It Will 'Underperform'

Tata Consultancy Services shares surged over 3% Friday after the largest software services exporter of the country reported better-than-expected earnings for the first quarter.TCS’ net profit of Rs 2,380 crore in April-June was flat sequentially, but higher than Rs 2,240 crore analysts according to a CNBC TV18 poll had expected. First quarter revenue was at Rs 10,797 crore, compared with analysts’ expectation of Rs 10,674 crore.Rival Infosys had earlier this week dissapointed the market with earnings slightly below analysts expectations and full year guidance little changed from what it had forecast earlier."TCS’ 26.2% EBIT margin for the quarter came ahead of the erstwhile margin leader Infosys. However, it was the strong topline growth that took centre stage...The key surprise was the strong...

Read More

Google Changing Way Brain Remembers Information

Internet search engines like Google are changing the way our brains remember information, according to a new study that says readily available information online makes people easily forget facts since computers become their external memory ".Researchers from Harvard University and Columbia University said Google and databases such as Amazon.com, IMDb.com serve as an external "memory, where information is stored collectively outside ourselves".People are more likely to remember things they think they will not be able to find online and will have a harder time recalling information which they know they can easily access online, the study added."Since the advent of search engines, we are re-organising the way we remember things," Columbia University psychologist Betsy Sparrow said.Our brains...

Read More

Google Registers Huge Q2 Profits

Google Inc has reported a 36 per cent growth in net income to $2.51 billion for the April-June period of 2011 driven by robust performance of core search business coupled with growing strength in other areas such as social network.In the year-ago period, the company had a net income of $1.84 billion, the Internet search firm said in a statement.The company posted revenues of $9.03 billion for the second quarter ended June 30, 2011, an increase of 32 per cent compared to the same period of 2010."We had a great quarter, with revenue up 32 per cent year on year for a record breaking over $9 billion of revenue," Google CEO Larry Page said.Google, which recently launched a social network site called Google plus is believed to have more than 10 million people plugged into it. The company is "super...

Read More

Mumbai Blasts: Indian Cities On High Alert

Mumbai (Bombay) and other Indian cities have woken up to a state of high alert after three blasts shook the commercial capital, killing 21 and hurting dozens. Indian PM Manmohan Singh appealed to the people of Mumbai "to remain calm and show a united face". Later the United Nations strongly condemned Wednesday's attack, describing it as "heinous". No group has said they carried out the atttack, which took place in three districts during evening rush hour. Earlier, Maharashtra state's Chief Minister, Prithviraj Chavan said he believed the blasts were "a co-ordinated attack by terrorists", as the explosions had...

Read More

Safe Banking Information From ICICI Bank On Phishing And Online Frauds

Phishing e-mails Fraudsters send out e-mails asking for your confidential banking information like user ID, password, PIN, CVV, debit card grid-values etc. With this information the fraudster takes money out of your account or shops online. The e-mails appear to look like they have been sent from public authorities like The Reserve Bank of India (RBI). Do not respond to such e-mails, RBI or ICICI Bankwill never ask for your confidential banking details. RBI has issued a clarification that it has never sent any e-mails and also appeals to the...

Read More

WHAT SHOULD YOU DO WHEN YOUR CAR METS AN ACCIDENT ??

Accidents can happen at any time, any place so it is always best to be prepared. Motor vehicle accidents in particular, have a high frequency rate so having insurance would not just be an advantage but a requirementBeing in an accident without any proof of insurance is worse, aside from paying a fine, you will lose your driver’s license. Also, if you’re the cause the accident and you do not have liability insurance, you may have to pay for the third party property damage and the injured person, yourself and these costs may be substantial.While car insurance can certainly give drivers peace of mind and security, it can be quite complicated once you actually get into a car accident. There are certain do’s and don’t’s in any insurance transaction, so in order to fully maximize your insurance,...

Read More

Track Your PF Account With A Click Of Mouse

An update of your Provident Fund (PF) account's balance is only a mouse click away. The Employees' Provident Fund Organization ( EPFO ) on Friday posted a link in its website , enabling members to get their PF account balance update as SMS alert on their cell phones. Members only need to furnish their respective PF account numbers to avail this facility. EPFO had been conducting an internal trial of this software for the past two months."The idea is to make the system transparent. Now, an employee can regularly check, whether the amount, which is being deducted every month from h/his salary, is getting deposited with us. If s/he finds any discrepancy , the individual can take the matter up with the employer or us," said central provident fund commissioner S Chatterjee.EPFO has also...

Read More

Health Insurance Portability May Miss July 1, 2011 Kick-off

You may have to wait a little longer to get a portable health insurance policy. Insurance companies are seeking more ‘clarity' and time to implement the portability of health insurance which is supposed to come into effect from July 1, 2011.Representatives of general insurance companies are meeting Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority (IRDA), on Friday to bring to his notice some issues of immediate concern in switching over to the portable health insurance regime.“The move is good but there are certain issues to be sorted out before July 1. We, along with other insurers, will be talking to the regulator,” Mr G. Srinivasan, Chairman and Managing Director, United India Insurance Company Ltd, told Business Line. According to industry experts,...

Read More

ICICI Bank's Home Loans Will Be 25 Basis Points Higher

Interest rates on home and other loans from ICICI Bank have gone up by 25 basis points following a decision by the country's largest private lender to increase its benchmark rates.As a result of this increase interest rates on ICICI Bank's home loans will be 25 basis points higher than its rivals HDFC and State Bank of India, which offer loans at 10.25%. The bank said the increase was in line with the hike in its cost of funds. The increase in Base Rate, which has taken place within a fortnight of Reserve Bank of India raising policy rates by 25 basis points, will be effective from July 4. A 25 basis points increase in lending rates would push up the equated monthly instalment on a 20-year, Rs 30 lakh home loan by over Rs 500. ICICI Bank is the first major lender to respond to RBI's policy...

Read More

Team Anna to meet Sonia Gandhi 2ed July 11

New Delhi, July 1 (IANS) Congress president Sonia Gandhi will Saturday meet Gandhian Anna Hazare and other representatives of civil society to discuss the Lokpal bill. 'The meeting between team Anna and Sonia Gandhi is confirmed for tomorrow (July 2),' Aswathi Muralidharan, a member of the NGO Parivartan which is canvassing support for the Lokpal bill, told IANS. The meeting is scheduled for 4.30 p.m. It was earlier scheduled for June 30, but was cancelled. Former top cop Kiran Bedi, who is part of the civil society team, Friday tweeted that it was better that they will be meeting Gandhi Saturday, now that they have met the opposition parties and know their point of view. 'Meeting of team Anna with SG (Sonia Gandhi) at 4.30 p.m. Better, now that we could read BJP's and other opposition...

Read More