postaday | wealthymatters

Your Rights As A Credit Card User

July 23, 2013 1 Comment

wealthymatters The Banking Codes and Standards Board of India (BCSI) has prescribed self regulatory norms which credit card issuers have to follow while dealing with their customers.So know your rights and insist on good service from your credit card provider.In case of need you can lodge your grievance with the Banking Ombudsman.

Here are the details of these BCSI norms:

Information
The credit card provider is expected to give you complete details of the fees, interest charges, billing methodology, penalties, renewal and termination procedures and also provide you with a booklet giving all these details. A copy of the `Most Important Terms and Conditions’ has to be given at the time of application to the customer.

Yes or No
Once the customer has shown interest in applying or has already applied for a credit card, it is the duty of the provider to clearly state in how many days he/she will know whether their application has been accepted or rejected. Read more of this post

Filed under Paper Assets Tagged with “Card not Present”, Banking Codes and Standards Board of India BCSI, Banking Ombudsman, billing methodology, credit card bills, Credit Card Statements, credit cards, fees, increase in credit limit, interest charges, Limit reduction, mobile alerts, online alerts, penalties, postaday, renewal and termination procedures, your rights as a credit card user

20% Fall History

July 23, 2013 Leave a comment

wealthymatters In 2008, when Lehman Brothers imploded on September 15, the Rupee, which had by then slipped a bit from its sub-39 all-time high to around 41, fell sharply and by the time the music really stopped, about 3 or 4 months in, to over 50 to the dollar, a decline of 20%.

In August 2011, when the US debt downgrade followed by the exploding of the European sovereign debt crisis (courtesy Greece) hit emerging markets like a bomb,the Rupee, which had been hovering between 44 and 46 for several months – during which, incidentally, both exports and imports were growing like gangbusters – collapsed in a near-straight line, triggering RBI action on December 15, tightening rules and squeezing liquidity. When the dust had cleared – or so it seemed – the rupee had lost over 20% and there was blood all over corporate balance sheets (and, of course, profit and loss statements). The banking system is still recovering from this.

This time round,the fall so far is just half of that in the previous two cases.

Filed under Alternative Assets, Paper Assets, Tool Kit Tagged with balance sheet, European sovereign debt crisis, fall in rupee, falling rupee, Lehman Brothers, postaday, profit and loss statement, rupee depreciation, US debt downgrade

The Superyacht Azzam

July 23, 2013 2 Comments

Filed under Tidbits Tagged with Christophe Leoni, Eclipse, Lurssen Yachts, middle eastern billionaire, Nauta Yachts, postaday, Roman Abramovich, superyacht, The Azzam

Guesstimates Of The Value Of The Rupee

July 23, 2013 1 Comment

If you are looking for some guidance on where the Rupee/Dollar exchange rate is likely to stabilize,here are the best guesstimates from various financial institutions:

wealthymatters

Filed under Alternative Assets, Paper Assets Tagged with depreciating rupee, falling rupee, postaday, rupee dollar exchange rate

Book Deal

July 20, 2013 9 Comments

Dear readers, I need your help. Bestsellers18,the book publishing arm of CNBC TV18 has approached me with a proposal to write books based on material from Wealthymatters .They also do CDs and DVDs.

I am making a list of potential book titles.Could you please comment with your ideas?What’s your favourite stuff on the blog?What sort of book would you like to read?