insurance problems

Today I came to know that just having a medical insurance policy in india was not enough. You also had to inform the insurance company very very soon after hospitalisation for the claim to be valid and submit proper documents within something like 48 hours after discharge from the hospital.

Many people do not read through the small print when they buy insurance policies and do not compare different options like premiums , benefits , features before they sign on the dotted line. So they face a lot of problems when they make a claim or try to change policies/companies midway, because they may not be aware of penalties and problems with lapsed policies.

There are some websites which sell insurance policies online for health insurance, travel insurance, baggage loss, vehicle insurance etc at unmatched cheap rates instantly without paperwork and without hassles. Some websites also offer pure life cover term insurance. Some also offer 24 X 7 support claims. Some also entice you with offers for your child and getting a lumpsum amount taxfree in your old age.
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mobile operators

The first cell phone connection that I took was a prepaid connection from Idea mobile (formerly bpl mobile) from the birla group. That was because most of my students(from IT field) were having idea connection, even though airtel was the most popular network at that time.

That connection was mainly for my father's usage when he had to go to the hospital for treatment for diabetic related problems.

Then after some time, my brother took a connection from airtel. He was just going through the various options and set up caller tunes. He just used it for 1 month and realised that it was a waste of money and then cancelled it off by calling the customer service centre.

The idea connection was put to a lot of use for std calls by me for calling my fiancee. There were some nice schemes like std call of 3 minutes for one rupee or so for 1 month etc.

When we travel to Tamil nadu (roaming) the idea connection usually shifts to aircel network. There are some parts of the highway, where there is no connectivity .

Then after some time my brother took a bsnl connection and a cell phone with the capacity to handle dual simcards. He would charge it with a special recharge which would give him a lot of free calls on the bsnl network.

I also took up a bsnl prepaid connection based on the pyari jodi plan which gives me free calls to my landline number. The network coverage also seems to be better than idea network while roaming.

I usually go for recharge with full talktime via the flexi route . Some ladies do not like this because they have to leave their cell phone numbers at the shop. Idea had a nice recharge coupon at Rs. 125/- which gives full talktime.

Recently I took up a virgin mobile connection which gave an offer of 25 ps per call(per minute) even for std calls. There seems to be some tieup with tata docomo.


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axis bank formerly uti bank

In the old days only PSU banks like SBI, SBT, Indian Bank, Canara Bank were common in Kerala. There were some other banks like Federal bank also.I and membeers of our family used SBI bank. But when UTI bank and other non PSU banks started opening branches, we would watch that with bemusement.

We wanted to send some subscription for an online game. When we enquired at SBI, the older generation staff was not sure of the options/method for sending the subscription. That was when we went round searching for the facilities in other non PSU banks.

UTI bank was renamed as Axis bank.

When I went to open a savings bank account in Axis Bank, the staff was very courteous and told us about the documents required to open the account. This was very different from the indifferent and unwelcoming attitude of the staff in a Catholic Syrian bank branch, where I had gone with a friend who wanted to open an account there.

After the application form etc were submitted with the required documents, the account was opened within a very short time. The debit card and password /pin etc arrived by speed post / courier within a few days.

The minimum balance for the SB(sbeazy) was Rs.5000/-

Later on I started a fixed deposit also with quarterly interest payment. I was able to do the whole work online, and the bank sent the reciept for the fd by post to me.
The bank pays the interest quarterly according to the financial year quarter, while SBI pays the interest quarterly, a quarter year from the day of deposit.

The website is at axisbank.com .
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student loans in india

Most parents in kerala want their children to take up engineering or medical studies once they are past their 12th or atleast go for some nursing course.

In the era of self financing institutions the fee for such courses could be very high.

Most middle class parents would not have the financial resources for this. Then they think of taking out educational loans for their kids. In the old days education loans were not very student friendly. But now some things seem to have changed.

For studies in india, a bank would usually give upto around 4 lakhs to 7 lakhs.
Some banks finance only upto 75% to 90% of the total amount needed for the course especially for studies abroad in foreign countries and the student may have to make up the remaining portion from his own pocket. Sometimes the loan is given jointly in the name of the student and the parent. Some consultancy services have also sprung up claiming to provide personalised advice and guidance.

Most banks require
admission letter detailing the fee etc from the institute where the student is going to study and the usual documents which are required for taking a loan.

In the case of students going to private nursing colleges in the neighbouring states like Tamil Nadu or Karnataka, some banks are not eager to give the loan facility due to non-uniformity in the fee structure and some other problems.

Usually the repayment of the loan would begin around 1 year from completion of the course according to proper schedule or 6 months after getting a job whichever is earlier.The EMI on a 4 lakh loan would be somewhere around Rs.8000/- to 10,000/- per month , but would change according to the interest rates contracted upon.

The end result would be that, if the student is weak in his studies or falls into bad company, he would not be able to complete the course and he would be left with arrear papers, and his parents would have to repay the loan or the student may have to take up the first job that comes up and most of his salary would be spent in repaying the loan, because the interest rate on student loans is quite interesting!! to say the least.

There have also been instances when some student allegedly committed suicide because of not being able to raise a loan to continue with their professional courses.

hindustan motor's ambassador

In the old days (around 1970's) the common cars in india were hindustan motor's ambassador, fiats and premier padminis. My father bought a second hand ambassador car around1977. It served him very well for more than 30 years till his demise.

It was a really spacious car. It ran on petrol with an SU carburettor. With proper tuning by an experienced mechanic you could make the engine real silent and you could get mileages of something like 8 to 10 km per litre in the city. It could go upto around 110 km per hr. You could run down to 15 to 20 km/hr in the fourth gear without having to change to 3rd or 2nd, which was pretty useful for city driving.

It had good ground clearance and the suspension was pretty good and suitable for the potholes on the typical kerala road.

One of the main problems was rust, if the mudguards or undercarriage or running board was not properly painted and given periodic washing, especially since the rains in kerala used to leave the roads all muddy.

Even though many people converted their petrol cars to diesel or LPG in the 90's, my father seemed to like the petrol engine and did not change to diesel or LPG. He overhauled the engine a couple of times, when the pulling power declined.

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blue chip stocks

Blue chip stocks

Almost everyone who is remotely interested in investing in the stock market must have seen a list of examples of so called best or top blue chip stocks.

The price volatility of so called blue chip stocks which are recommended for long term portfolios are assumed to be lower than other stocks. But some of the so called blue chips like Maruti Suzuki, Infosys technologies etc have crashed by 10% or even more recently.

The PE (price to earning) ratios of so called blue chip stocks are usually much more higher than other stocks. So any hint of slow growth in earnings, or any negative news on the management front seem to send these stocks (or for that matter any stock) into a tailspin.

The dividend yield of some of these so called blue chip stocks like bharti airtel are also very very low. Some time back, the stock had fallen a lot when per second billing was introduced, and also when it was acquiring Zain in Africa.

It is quite interesting to see the dividend yield of some of the so called best blue chip stocks.

Another stock like NTPC has fallen off a lot following the FPO offering.

Some of the stocks like ONGC have shown a lot of zig zag motion with news of the FPO offering.

Some stocks like SBI etc have started to go back after a big fall during the time when rates were going up with high inflation though it is not clear if the upmove can be sustained.







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