Paper Assets | wealthymatters

Aadhaar Card No Longer Compulsory

September 26, 2013 1 Comment

wealthymatters

I am relieved to find that getting an Aadhaar Card is no longer mandatory.Link.

I am far from enthusiastic about giving private parties access to my finger-prints and retina scans.Finger-prints are used as evidence in criminal cases.In the days of identity thefts and electronic frauds do I really want my prints to be stored in some database,along with other personal information,ready for some smart hacker to come along and harvest?

A couple of banks and the post office have jumped onto the Aadhaar bandwagon and have been aggressively pushing me to go get an Aadhaar Card.I guess direct money transfers represents big business for them.

However as I receive no doles/subsidies from the government and am concerned with frauds such as this one reported in the press:Link,I have been postponing getting an Aaadhaar card.

Now I’ll be happy to cite this interim judgement of the Supreme Court to any organization pushing me to get enrolled.

Filed under Paper Assets Tagged with Aadhaar card not mandatory, direct money transfers, identity thrft, interim judgement of supreme court, postaday

The New Insurance Repository System

September 26, 2013 Leave a comment

Recently the IRDA has launched the Insurance repository system.Here’s more about the system:

1) What is an insurance repository?

It is a facility that allows you to hold insurance plans in the demat form. As is the case with shares and bonds, which can be held in a demat account with a depository, you can keep your insurance policies in an e-insurance account with an insurance repository.

2) How can you open an e-insurance account?

A policyholder can open an e-insurance account with any of the five repositories approved by Irda. These include the NSDL Database Management, Central Insurance Repository, SHCIL Projects, CAMS Repository Services and Karvy Insurance Repository. Irda has also stipulated that an individual can have only one e-insurance account.

3) What if you have policies from different insurers?

Even if you have policies from multiple insurance companies, they can be stored in the same account. Right now, only life insurance policies and pension plans are being allowed to be held in e-insurance accounts. However, the facility will eventually be extended to health, car, home and other forms of general insurance. Read more of this post

Filed under Paper Assets Tagged with CAMS Repository Services, Central Insurance Repository, demat, e-insurance account, insurance repository, Insurance Repository System, IRDA, Karvy Insurance Repository, life insurance policies, NSDL Database Management, pension plans, postaday, SHCIL Projects

Rajiv Bajaj On Strategy

September 22, 2013 Leave a comment

wealthymatters Ask Rajiv Bajaj what is strategy and he sums it up in a word: specialization. And that relentless focus on what you do best calls for “sacrifice” — of what self-styled experts and rivals, and even what daddy (Rahul Bajaj), thinks is best. In business terms, it meant exiting scooters — a segment many believe still has steam for growth — and narrowing the vision to motorcycles. “You can play 10 games and be the best in Pune or concentrate on one and be the best in the globe,” explains Bajaj. “It [the strategy] is the alignment of the front end with the back end. It is more about what you choose not to do rather than what you choose to do.” Read more of this post