Thefts with cloned ATM cards on the rise

Cases of fraudulent withdrawal of money with cloned ATM cards are on the rise with more and more people being caught unawares by secret depreciation of savings from their bank accounts. At least five such cases of unlawful withdrawal of lakhs of rupees with the help of duplicate ATM cards from various cash dispensing machines across the city have come to light in the past few days.

According to police, such withdrawals were made when ATM cards were with the respective account holders. The swindlers would insert a card reader device into the ATM''s slot and place a micro-camera behind the machine to record the password entered by the cardholder.

On the basis of the information obtained, the conman would produce a cloned ATM card and use it at another ATM to withdraw money, police said. Police suspect such thefts to be the handiwork of organised gangs.

Recently, one such gang which had withdrawn about Rs three lakh from accounts of different cardholders in Chandigarh, Panchkula and Mohali, was busted. Police say that in order to solve such cases, they have been conducting inquiries and analysing CCTV footage from banks to get clues about the burglars.

The cyber crime cell of the city police has also become active in determining ways to prevent such cloning.

Direct tax Code bill cleared by Cabinet

Friends,

The Cabinet approved the much-awaited Direct Taxes Code (DTC) Bill, which is likely to be tabled in Parliament during the ongoing Monsoon session and referred to a select committee of members of both the houses.

The bill also seeks to remove surcharge and cess on corporate tax, providing relief to business houses.

The proposed rates are as under :-

Individual persons exempt up to Rs. 2 lakh

Senior citizen upto Rs. 2.5 lakh exempt

Tax for those earning Rs. 2 - 5 lakh at 10 per cent

Corporate tax to be 30 per cent

Tax for those earning Rs. 5-10 lakhs at 20 per cent

Tax for those earning over Rs. 10 lakhs at 30 per cent.

It could leave more money in the hands of people, the government on Thursday proposed to raise exemption limit on income tax from the present Rs 1.6 lakh to Rs 2 lakh.


When asked what will be the limit of exemptions for income tax, Finance Minister Pranab Mukherjee [ Images ] told reporters after the Cabinet meeting that it is proposed to be raised to Rs 2 lakh from the current Rs 1.6 lakh.

To a query on what the new tax slabs would be, Mukherjee said, "That will be discussed in Parliament." Sources, however, said income between Rs 2-5 lakh is likely to attract a rate of 10 per cent, 20 per cent for Rs 5 -10 lakh bracket and 30 per cent above Rs 10 lakh.

For senior citizens and females, the tax slabs are likely to be relaxed further, they added.

"The whole objective is that a plethora of exemptions will be limited. (Income) tax slabs will be three. Rate of taxes will be taken in the schedule so that they need not be changed every year," Mukherjee said.

On the corporate tax, the finance minister said it is sought to be retained at the present level of 30 per cent, but there will not be any surcharge or cesses on it.

According to sources, the DTC bill is likely to be tabled in Lok Sabha on Monday. Thereafter, it will be referred to the select committee, they added. At present, income between Rs 1.65 lakh and Rs 5 lakh attracts 10 per cent tax, while the rate is 20 per cent for the Rs 5-8 lakh bracket and 30 per cent for above Rs 8 lakh.

The first draft of the bill had suggested 10 per cent tax on income between Rs 1.60 lakh and Rs 10 lakh, 20 per cent on income between Rs 10 and Rs 25 lakh and 30 per cent beyond that. However, finance ministry officials had later said those slabs were just illustrative.

The Bill, approved by Cabinet, also seeks to impose minimum alternate tax (MAT) at 20 per cent of the book profit, compared to 18 per cent at present. The first draft had proposed to impose MAT on assets, which drew strong criticism from the industry.

The MAT on book profit has been maintained in the revised draft as well. It had also proposed to tax long-term savings like PF at the time of withdrawal.

The revised draft exempted them. "Concerns were expressed for shifting from EEE (exempt, exempt, exempt) to EET (exempt, exempt, tax)," Mukherjee said. This would also address the issue of taxing surplus funds of charitable institutions, he said.

How to avoid paying taxes on interest income?

Friends,

Do you wonder why interest earned from your FDs or interest bearing securities like bonds gets reduced due to tax deducted at source? 

Does it irritate you that tax has been charged even though you aren't eligible to pay taxes? Here, we tell you about why TDS applied and ways to avoid this tax deduction if you meet certain criteria.

Why should I know this?

If you are like most Indians, chances are the bulk of your liquid savings are in a bank account or in an FD. Some of us are invested in bonds. While these fixed income instruments are good for guaranteed returns, they are relatively tax inefficient instruments because you end up paying taxes on the interest income that you earn.

This tax is usually deducted at source, and there might be a situation where tax is being deducted even though you are not eligible for paying taxes. This could result in a cash flow problem because your tax outflow is today, but your refund might take many months to arrive.

How much is the TDS on interest from deposits and securities?

The tax on interest income is deducted at source, i.e., at the bank where you hold your deposit, or from the issuer of the bond who pays you interest. The rate of this TDS is a flat 10% if your interest income exceeds a certain limit. Unlike salary income where TDS is according to your tax slab, the TDS on your interest income is irrespective of the tax slab applicable to you.

Lets understand the above by way of an example. Radha, a 27-year-old woman, is employed and also has an FD at a bank. The following is her income and taxability situation.

Salary income: Rs. 1.40 lakhs per annum
FD interest income: Rs. 30,000 per annum
Statutory exemption limit for women: Rs. 1.90 lakhs annually

As Radha earns more than Rs. 10,000, she will be liable to a tax deduction at source. However, as we can see, Radha's total income (salary + interest income) is below the annual exemption of Rs. 1.90 lakhs available to women. Nevertheless, taxes will be deducted from her interest income at the bank where she holds her FD.

As you can imagine, this can cause some cashflow problems for Radha if she is going to get lesser cash in hand, even though she should never have been taxed on the interest.

How can I avoid undue deduction from interest income?

If your analysis shows that your total income is below the taxable slab, then there are provisions in the Income Tax Act under which you legally avoid having tax deducted from your interest earned on your FDs and bonds.

You will need to furnish a declaration using the prescribed form to the bank or entity responsible for deducting tax. This declaration needs to state that no tax deduction is required because the income level does not fall into the taxable slab.

What are these prescribed forms?

Different forms are used for different sources of income and types of taxpayers.

Form 15G: Applicable for a resident individual, other than a senior citizen
Form 15H: Applicable for a senior citizen (These forms can be downloaded online)

What incomes can be declared in the above forms?

The declaration in Forms 15G and 15H can be furnished mainly if the taxpayer has income from:

Interest on securities Interest other than interest on securities, like FDs

What should I take care of while using these forms?

1. The declaration should be filed only if tax on total estimated income for the relevant year is nil.

2. Delivery of the form to the entity deducting your TDS must be made any time before receiving the income either directly or by credit to the account.

3. The entity to whom the declaration is given must file one copy of the declaration with Commissioner Income Tax before 7th day of the next month.

4. A false declaration is liable to prosecution and fine.

Car Insurance - Basics you must know

Friends

If you have a car, chances are you have car insurance for it. Here we share with you basics that you must know if you want to make smart decisions about your car insurance policy.

Factors influencing your car insurance premium

 

Ever wondered how your car insurance premium is calculated? Often the premium can be adjusted for any bonus or discount that the insurer is willing to offer you, but in any case these are calculated only after the insurer has fixed a premium that they want to charge you. Here we explain the factors that influence the premium that you pay for your car.

1. Insured declared value (IDV): At any given point in time, your car has some value associated with it. If you suffer a total loss in an accident, how much do you think you should be compensated for, assuming you had insurance for your car? The amount that you are compensated for under a comprehensive motor insurance coverage is directly linked to what is the value of the vehicle at that point in time. If you have a new car that you have just driven out of a showroom, its value is more than say a 3-year-old car with 30,000 kilometres on it. IDV is the value that the insurance company places on your vehicle to estimate its worth at the time you apply for motor insurance. 

Motor insurance policies are indemnity policies. That's just a technical way of saying that they just compensate you for an amount up to financial loss that you have suffered on the vehicle, and no more. IDV is the maximum amount that you can claim under a motor insurance policy to compensate for any loss arising from theft or accident. So, if you suffer total loss in an accident of your 3-year-old car that is worth Rs 4 lakhs at the time of the accident, under no circumstances will you be compensated for more than 4 lakhs.

When you buy a new car and are getting insurance for it, the IDV is calculated on the basis of the price of the new car, i.e., its ex-showroom price. If you have a car for which you are renewing the insurance, the IDV will be adjusted for any operational wear and tear that the car has experienced, or to put it in technical terms the IDV is adjusted for any depreciation that it has undergone for a vehicle of its age.

What if you have any accessories like a special music system or speakers in your car? In this case, the value of these items that are additional to the price of the car are added to the IDV, adjusted for any depreciation that these items might have undergone.

If you are getting a policy for a car that is more than 5 years old, then the IDV is determined on the basis of an understanding between you and the insurer after adjusting for the depreciation schedule.

Please keep in mind that the IDV calculation is used only for a comprehensive insurance policy and not a third party insurance cover.

2. Cubic capacity (cc) of the vehicle: Every car has an engine size, which is measured as its cubic capacity. The size of the engine affects the insurance premium you have to pay for a third party insurance cover. The premium amount is the same for a new car as for an older car, because the premium is a function of the engine size, and not the age of the car. Engine capacity is not a criterion used for calculating premium for a comprehensive cover. The table below shows the rates (as of June 2010) on the third party cover premium amount according the engine size. The higher the cc, the higher will be the premium. You can find out the cc from the registration papers of your vehicle. 

Cubic capacity (cc)	Basic Minimum Premium (in Rs.)
Less than 1,000 cc	500
1,000 cc to 1,500 cc	600
More than 1,500 cc	700

These figures are the basic minimum amounts as stipulated by the Indian Motor Tariff Act. There might be an additional amount that you are obliged to pay above this minimum for third party coverage. These minimum amounts are the same, irrespective of the brand or the age of the car. All that matters is the engine capacity.

3. Geographical zones: The city or town that your car is registered in can affect the amount of motor insurance premium you pay. India has been divided into two zones, Zone A and B, depending upon the kind of risks that motor vehicles in these areas are exposed to.
Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi, and Pune fall in the Zone A, and vehicles in these cities are considered more vulnerable to theft and accident. The rest of India falls into Zone B. Zone A cities have a higher motor insurance premium than Zone B. For example, if your car is registered in Delhi, you will pay a higher premium compared to a person whose car is registered in Jaipur. 

4. Age of the vehicle: As your car ages, it loses value due to a few reasons. Newer models come out that reduce the value of your older model. Additionally, the wear and tear that the vehicle undergoes makes it less valuable than a new car of the same model. There is a set schedule that applies to vehicles that adjusts their value based on how old the car is, independent of the brand of the vehicle.

Age of the vehicle	Rate of depreciation (in %)
Less than 6 months	Nil
6 months to 1 year	5%
1 year to 2 years	10%
2 years to 3 years	15%
3 years to 4 years	25%
4 years to 5 years	35%
5 years to 10 years	40%
More than 10 years	50

 Insurance companies follow the above schedule to decide the premium that you will pay to have your car insured. However, as mentioned above, for vehicles that are older than 5 years, the insurance company and you will mutually arrive at a valuation your vehicle, which will take into account the condition of the vehicle and the depreciation schedule.

If you want only a third party policy, then the above depreciation schedule does not apply. The premium is decided based upon the engine size only.

Jokes

बेटा : माँ, क्या तुम पहले सर्कस में काम करती थी ? माँ : नहीं तो, क्यों ? बेटा : तो फिर सभी लोग ऐसा क्यों कहते हैं कि तुम पापा को उँगलियों पर नचाती हो ...... ?

डॉक्टर : आपके पति को आराम की जरुरत है. ये लीजिये नींद की गोलियां. स्त्री : ये मैं उन्हें कब दूं ? डॉक्टर : ये उनको नहीं देनी हैं, आपको लेनी हैं ..... ! ''पिताजी, शादी में कितना खर्चा होता है ?'' ''पता नहीं बेटा, मैं तो आज तक चुका ही रहा हूं।'' बस के गेट पर लटके हुए मुसाफिरों से कंडक्टर ने कहा : भाइयो, अंदर हो जाओ। इस तरह गेट पर लटकना आपकी जान के लिए खतरनाक है। लेकिन जब कोई भी अंदर न हुआ तो कंडक्टर गुस्से में बोला : तुम्हें तुम्हारी पत्नी की कसम अंदर हो जाओ! इतना सुनना था कि जो मुसाफिर सीटों पर बैठे थे वे भी गेट पर आकर लटक गए। एक आलसी से मित्र ने कहा : सुना है, तुम फौज में भरती हो रहे हो ? आलसी : अरे नहीं, मुझे तो यह भी पता नहीं कि बंदूक का मुंह किधर रखकर चलाते हैं। मित्र : इसमें क्या है ? तुम बंदूक का मुंह किधर भी रखकर चलाओ, देश का भला ही करोगे। संता : यार मेरे 5 साल के बेटे ने मेरी सारी कविताएं फाड़ डाली। बंता : बधाई हो, इतनी कम उम्र में तुम्हारा बेटा साहित्य का पारखी बन गया है।

भोजन से पहले दो गिलास पानी पिएं

मोटापा घटाना चाहते हैं तो बेहतर होगा कि भोजन से पहले दो गिलास पानी पी लें। इससे आपका मोटापा डायटिंग करने वालों के मुकाबले जल्दी घटेगा।

अमेरिकी शोधकर्ताओं का दावा है इससे भोजन की मात्रा घटेगी और पेट भी भरा हुआ महसूस होगा। उन्होंने कहा कि वजन घटाने वाली दवाएं वसा को सोखने की शरीर की क्षमता को कम कर देती है। साथ ही यह दिमाग में ऐसे रासायनिक बदलाव लाती हैं, जिससे भूख कम लगती है। लेकिन इससे कुपोषण का खतरा रहता है। ऐसे में भोजन से पहले पानी पीना ही सबसे बेहतर विकल्प है।

शोधकर्ताओं ने कोल्ड ड्रिंक और मिठाइयों से परहेज बरतने की सलाह भी दी है।

Nokia dials India with dual-SIM phones

Friends,

Nokia is ready with its dual SIM phones for India. The Finnish giant is preparing to launch its C1 and C2 models of entry-level dual SIM phones in two-three months. Both models would be launched simultaneously in India, following its global launch in the third quarter of the current fiscal year.

The phones would sport features like FM radio, a 1,000 entries-address books, LED torch, VGA camera.

Although the company is yet to divulge price details, it is expected to be within the tag of R2,500. Both models would be integrated with Nokia Life Tools service (for information on health care, education and entertainment) as well as Ovi Mail. Samsung had launched its dual SIM phones in the country about two years ago. It currently has five dual SIM models in India with price tags ranging from R3,200 to R9,600.

Where should you get your gold?

Friends,

Gold is a 'must have' in your investment portfolio. Frankly, there is no need to advocate investment in gold amongst Indian audiences. Traditionally it is a popular avenue of investment for Indians. However buying jewelry is not as good an investment as buying pure 24 karat gold. Hence, when we talk of gold as an investment, we mean gold coins, gold biscuits or gold bars - any piece of 24 karat gold.

Since gold is a popular investment, there are several avenues of buying it. Even banks and post offices sell gold. So, from where should you get your gold? Here are your choices:

Jewelers

All jewelers sell gold coins, gold biscuits and 24 karat gold rings. 24 karat gold rings are the most popular sellers. You can visit your trusted jeweler to purchase gold. You can resell a piece of 24 karat gold without any loss in value. It is important that you check that the gold coin / bar / ring etc has a 24 karat seal on it. The cases of fraud amongst jewelers are common; hence it is best to buy gold only from jewelers that you trust and that have a good reputation. It is a good idea to verify the purity of gold from another jeweler.

The advantage of buying gold from jewelers is that it is one of the cheapest sources plus it blends with consumer mindsets of buying gold from jewelry shops. Also, you can take it back to the same or any other jeweler and cash it at the current selling rate.

Banks

Banks too sell gold. State Bank of India, Axis Bank, Bank of India, ICICI Bank and HDFC Bank are amongst banking institutions selling gold coins. A bank is probably the most trusted source to buy gold. Since people trust their money to banks, buying gold from a bank is a viable idea. One can be sure of the purity of gold. Banks give certificates of purity for the gold coins they sell.

However, getting your gold from banks will be costlier as they charge a premium of 10 percent to 15 percent over the market rate. So, if your jeweler sells 1 gram of gold for Rs. 1853/- (as of June 06, 2010), you can get the same from a bank for an additional amount of Rs. 278/-. So, for 10 grams of gold, you will pay Rs. 2, 780/- more at the current rates. This is a direct hit in your profits when you sell the gold. Also note that banks are not permitted to buy back the gold they sell. So, you will have to find another buyer for it.

Gold Exchange Traded Funds

If you are purchasing gold solely for investment purposes, you don't really need to buy gold in its physical form. You can buy gold in demat form - gold exchange traded funds. A unit of an ETF fund approximates the value of 1 gram of gold. So, modest purchasers can also get into the gold market. ETFs can save you the cost of storage of gold coins and the time and effort to secure your purchase (such as bank locker charges). Further, you need not worry about the accuracy of weight or purity of the gold - Gold ETFs counter all the demerits involved in purchasing gold. Just one hitch - if you are buying gold coins for investment such that they can be converted to jewelry later on for any occasion like your child's wedding - then this option does not work for you. The performance of Gold ETFs has been impressive.

Here is table of changes in prices of Gold ETFs over a period of 2 years-

Online over the Internet

As most of your other investments, gold can be purchased online too. Some jewelers also have started selling online. Security, accuracy of weight and purity of gold are major concerns here. So, you should buy from reliable sources only. Banks such as ICICI Bank also sell gold online. However, the same drawbacks related to buying from banks persist here.

Gold Retailers

Corporate giants also sell gold through their outlets spread across the nation. For example, TATA has a retail chain Tanishq. This is also a very reliable avenue and often used by companies to gift its employees.

Post offices

An extremely reliable source plus reasonable prices- Indian Postal Offices sell gold coins. Post offices of only a few cities extend this facility. However, this avenue has the potential of reaching out to remote areas. This is because, every village, however, small it may be, has a post office. It can be a very good alternative to local jewelers. Gold coins in lower denominations (0.5 grams, 1.0 grams, 5.0 grams and 8.0 grams) are also sold here so that most people can afford purchasing gold from post offices.

At present post offices in the following cities sell gold coins:
Delhi, Ahmedabad, Surat, Baroda, Pune, Nashik, Nagpur, Mumbai, Chennai, Trichy, Coimbatore, Salem and Madurai.

B.Ed. Regular Course 2010-11 Counselling/Admission in Haryana .

Friend,

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DEDUCTION ON ACCOUNT OF INTEREST ON HOUSE LOAN SELF OCCUPIED HOUSE 150000 or 30000?

Friends,

As you may know where a person has occupied more than one house for residential purposes, only one house, as chosen by him will be treated as ‘self occupied’ and all other houses will be deemed to be let out and the income from such houses would be computed as indicated earlier. In regard to one house treated as used for own residential purposes throughout the year, Section 23 (2) (a) prescribes that annual value of such house shall be taken to be nil, if the conditions mentioned below are satisfied:

* the property (or part thereof) is not actually let during whole (or any part) of the previous year; and

* no other benefit is derived therefrom

Interest on borrowed capital for self occupied property

The maximum amount of interest permissible in cases of self-occupied property is Rs.1,50,000 (in respect of funds borrowed on or after 01.04.1999). Interest upto Rs.1,50,000 is deductible if the following conditions are satisfied:

* Capital is borrowed on or after April 1, 1999 for acquiring or constructing a property;

* the acquisition/construction should be completed within 3 years from the end of the financial year in which capital was borrowed; and the person extending the loan certifies that such interest is payable in respect of the amount advanced for acquisition or construction of the house or as refinance of the principal amount outstanding under an earlier loan taken for such acquisition or construction.

In the above context the following further aspects have to be kept in view:

1. If capital is borrowed for any other purpose (e.g. if capital is borrowed for reconstruction, repairs or renewals of a house property), then the maximum deduction on account of interest is Rs.30,000 (and not Rs.1,50,000).

2. There is no stipulation regarding the date of commencement of construction. Consequently, the construction of the residential unit could have commenced before April 1,1999 but, as long as its construction/ acquisition is completed within 3 years, the higher deduction of Rs.1,50,000 would be available. Also, there is no stipulation regarding the construction/acquisition of the residential unit being entirely financed by the loan taken on or after April 1, 1999. It may be so in part.However, the higher deduction upto Rs.1,50,000 can be taken for the loan which has been taken and utilized for construction/acquisition after April 1, 1999. The loan taken prior to April 1, 1999 will carry deduction of interest upto Rs. 30,000 only (CBDT’s circular No. 779,dated September 14, 1999).

Rs. 1,50,000 maximum deduction will not be available in the following situations:

1. if capital is borrowed before April 1, 1999 for purchase,construction, reconstruction, repairs or renewals of a house property;

2. if capital is borrowed on or after April 1, 1999 for reconstruction, repairs or renewals of a house property; and

3. if capital is borrowed on or after April 1, 1999 but construction is not completed within 3 years from the end of the year in which capital was borrowed. In the above situations only deduction upto Rs. 30,000 can be claimed.

FAQs on the Banking Ombudsman Scheme

1. What is the Banking Ombudsman Scheme?

The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

2. Who is a Banking Ombudsman?

The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.

3. How many Banking Ombudsmen have been appointed and where are they located?

As on date, fifteen Banking Ombudsmen have been appointed with their offices located mostly in state capitals. The addresses and contact details of the Banking Ombudsman offices have been provided in the annex.

4. Which are the banks covered under the Banking Ombudsman Scheme, 2006?

All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Scheme.

5. What are the grounds of complaints?

The Banking Ombudsman can receive and consider any complaint relating to the following deficiency in banking services (including internet banking):

* non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc.;

* non-acceptance, without sufficient cause, of small denomination notes tendered for any purpose, and for charging of commission in respect thereof;

* non-acceptance, without sufficient cause, of coins tendered and for charging of commission in respect thereof;

* non-payment or delay in payment of inward remittances ;

* failure to issue or delay in issue of drafts, pay orders or bankers’ cheques;

* non-adherence to prescribed working hours ;

* failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank or its direct selling agents;

* delays, non-credit of proceeds to parties accounts, non-payment of deposit or non-observance of the Reserve Bank directives, if any, applicable to rate of interest on deposits in any savings,current or other account maintained with a bank ;

* complaints from Non-Resident Indians having accounts in India in relation to their remittances from abroad, deposits and other bank-related matters;

* refusal to open deposit accounts without any valid reason for refusal;

* levying of charges without adequate prior notice to the customer;

* non-adherence by the bank or its subsidiaries to the instructions of Reserve Bank on ATM/Debit card operations or credit card operations;

* non-disbursement or delay in disbursement of pension (to the extent the grievance can be attributed to the action on the part of the bank concerned, but not with regard to its employees);

* refusal to accept or delay in accepting payment towards taxes, as required by Reserve Bank/Government;

* refusal to issue or delay in issuing, or failure to service or delay in servicing or redemption of Government securities;

* forced closure of deposit accounts without due notice or without sufficient reason;

* refusal to close or delay in closing the accounts;

* non-adherence to the fair practices code as adopted by the bank or non-adherence to the provisions of the Code of Bank s Commitments to Customers issued by Banking Codes and Standards Board of India and as adopted by the bank ;

* non-observance of Reserve Bank guidelines on engagement of recovery agents by banks; and

* any other matter relating to the violation of the directives issued by the Reserve Bank in relation to banking or other services.

A customer can also lodge a complaint on the following grounds of deficiency in service with respect to loans and advances

* non-observance of Reserve Bank Directives on interest rates;

* delays in sanction, disbursement or non-observance of prescribed time schedule for disposal of loan applications;

* non-acceptance of application for loans without furnishing valid reasons to the applicant; and

* non-adherence to the provisions of the fair practices code for lenders as adopted by the bank or Code of Bank’s Commitment to Customers, as the case may be;

* non-observance of any other direction or instruction of the Reserve Bank as may be specified by the Reserve Bank for this purpose from time to time.

* The Banking Ombudsman may also deal with such other matter as may be specified by the Reserve Bank from time to time.

6. When can one file a complaint?

One can file a complaint before the Banking Ombudsman if the reply is not received from the bank within a period of one month after the bank concerned has received one s representation, or the bank rejects the complaint, or if the complainant is not satisfied with the reply given by the bank.

7. When will one s complaint not be considered by the Ombudsman ?

One s complaint will not be considered if:

a. One has not approached his bank for redressal of his grievance first.

b. One has not made the complaint within one year from the date one has received the reply of the bank or if no reply is received if it is more than one year and one month from the date of representation to the bank.

c. The subject matter of the complaint is pending for disposal / has already been dealt with at any other forum like court of law, consumer court etc.

d. Frivolous or vexatious.

e. The institution complained against is not covered under the scheme.

f. The subject matter of the complaint is not within the ambit of the Banking Ombudsman.

g. If the complaint is for the same subject matter that was settled through the office of the Banking Ombudsman in any previous proceedings.

8. What is the procedure for filing the complaint before the Banking Ombudsman?

One can file a complaint with the Banking Ombudsman simply by writing on a plain paper. One can also file it online (at “click here to go to Banking Ombudsman scheme” or by sending an email to the Banking Ombudsman. There is a form along with details of the scheme in our website.However, it is not necessary to use this format.

9. Where can one lodge his/her complaint?

One may lodge his/ her complaint at the office of the Banking Ombudsman under whose jurisdiction, the bank branch complained against is situated.

For complaints relating to credit cards and other types of services with centralized operations, complaints may be filed before the Banking Ombudsman within whose territorial jurisdiction the billing address of the customer is located.

Address and area of operation of the banking ombudsmen are provided in the annex.

10.Can a complaint be filed by one s authorized representative?

Yes. The complainant can be filed by one s authorized representative (other than an advocate).

11. Is there any cost involved in filing complaints with Banking Ombudsman?

No. The Banking Ombudsman does not charge any fee for filing and resolving customers’ complaints.

12. Is there any limit on the amount of compensation as specified in an award?

The amount, if any, to be paid by the bank to the complainant by way of compensation for any loss suffered by the complainant is limited to the amount arising directly out of the act or omission of the bank or Rs 10 lakhs, whichever is lower.

13. Can compensation be claimed for mental agony and harassment?

The Banking Ombudsman may award compensation not exceeding Rs 1 lakh to the complainant only in the case of complaints relating to credit card operations for mental agony and harassment. The Banking Ombudsman will take into account the loss of the complainant s time, expenses incurred by the complainant, harassment and mental anguish suffered by the complainant while passing such award.

14. What details are required in the application?

The complaint should have the name and address of the complainant, the name and address of the branch or office of the bank against which the complaint is made, facts giving rise to the complaint supported by documents, if any, the nature and extent of the loss caused to the complainant, the relief sought from the Banking Ombudsman and a declaration about the compliance of conditions which are required to be complied with by the complainant.

15. What happens after a complaint is received by the Banking Ombudsman?

The Banking Ombudsman endeavours to promote, through conciliation or mediation, a settlement of the complaint by agreement between the complaint and the bank named in the complaint.

If the terms of settlement (offered by the bank) are acceptable to one in full and final settlement of one s complaint, the Banking Ombudsman will pass an order as per the terms of settlement which becomes binding on the bank and the complainant.

16. Can the Banking Ombudsman reject a complaint at any stage?

Yes. The Banking Ombudsman may reject a complaint at any stage if it appears to him that a complaint made to him is:

* not on the grounds of complaint referred to above

* compensation sought from the Banking Ombudsman is beyond Rs 10 lakh .

* requires consideration of elaborate documentary and oral evidence and the proceedings before the Banking Ombudsman are not appropriate for adjudication of such complaint

* without any sufficient cause

* that it is not pursued by the complainant with reasonable diligence

* in the opinion of the Banking Ombudsman there is no loss or damage or inconvenience caused to the complainant.

17. What happens if the complaint is not settled by agreement?

If a complaint is not settled by an agreement within a period of one month, the Banking Ombudsman proceeds further to pass an award. Before passing an award, the Banking Ombudsman provides reasonable opportunity to the complainant and the bank, to present their case.

It is up to the complainant to accept the award in full and final settlement of your complaint or to reject it.

18.Is there any further recourse available if one rejects the Banking Ombudsman’s decision?

If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the appellate authority against the Banking Ombudsmen’s decision. Appellate Authority is vested with a Deputy Governor of the RBI.

One can also explore any other recourse and/or remedies available to him/her as per the law.

The bank also has the option to file an appeal before the appellate authority under the scheme.

19. Is there any time limit for filing an appeal?

If one is aggrieved by the decision, one may, within 30 days of the date of receipt of the award, appeal against the award before the appellate authority. The appellate authority may, if he/ she is satisfied that the applicant had sufficient cause for not making an application for appeal within time, also allow a further period not exceeding 30 days.

20. How does the appellate authority deal with the appeal?

The appellate authority may

i. dismiss the appeal; or

ii. allow the appeal and set aside the award; or

iii. send the matter to the Banking Ombudsman for fresh disposal in accordance with such directions as the appellate authority may consider necessary or proper; or

iv. modify the award and pass such directions as may be necessary to give effect to the modified award; or

v. pass any other order as it may deem fit.

FAQs about Housing Loan from Banks

Friends,

Here are some frequently asked questions How to take Home Loan from Banks.

1. For what purposes can I seek a first time home loan?

You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Please remember to seek specific clarifications on the above-mentioned issues from your commercial bank.

2. How will your bank decide your home loan eligibility?

Your bank will assess your repayment capacity while deciding the home loan eligibility. Repayment capacity is based on your monthly disposable / surplus income, (which in turn is based on factors such as total monthly income / surplus less monthly expenses) and other factors like spouse's income, assets, liabilities, stability of income etc. The main concern of the bank is to make sure that you comfortably repay the loan on time and ensure end use. The higher the monthly disposable income, higher will be the amount you will be eligible for loan. Typically a bank assumes that about 55-60 % of your monthly disposable / surplus income is available for repayment of loan. However, some banks calculate the income available for EMI payments based on an individual’s gross income and not on his disposable income.

The amount of the loan depends on the tenure of the loan and the rate of interest also as these variables determine your monthly outgo / outflow which in turn depends on your disposable income. Banks generally fix an upper age limit for home loan applicants.

3. What is an EMI?

You repay the loan in Equated Monthly Installments (EMIs) comprising both principal and interest. Repayment by way of EMI starts from the month following the month in which you take full disbursement. (For understanding how EMI is calculated, please see annex).

4. What documents are generally sought for a loan approval?

In addition to all legal documents relating to the house being bought,  banks will also ask you to submit Identity and Residence Proof, latest salary slip ( authenticated by the employer and self attested for employees ) and Form 16 ( for business persons/ self-employed ) and last 6 months bank statements / Balance Sheet, as applicable . You also need to submit the completed application form along with your photograph. Loan applications form would give a checklist of documents to be attached with the application.

Do not be in a hurry to seal the deal quickly.

Please do discuss and seek more information on any waivers in terms and conditions provided by the commercial bank in this regard. For example some banks insist on submission of Life Insurance Policies of the borrower / guarantor equal to the loan amount assigned in favour of the commercial bank. There are usually amount ceilings for this condition which can also be waived by appropriate authority. Please read the fine print of the bank’s scheme carefully and seek clarifications.

5. What are the different interest rate options offered by banks?

Banks generally offer either of the following loan options: Floating Rate Home Loans and Fixed Rate Home Loans. For a Fixed Rate Loan, the rate of interest is fixed either for the entire tenure of the loan or a certain part of the tenure of the loan. In case of a pure fixed loan, the EMI due to the bank remains constant. If a bank offers a Loan which is fixed only for a certain period of the tenure of the loan, please try to elicit information from the bank whether the rates may be raised after the period (reset clause). You may try to negotiate a lock-in that should include the rate that you have agreed upon initially and the period the lock-in lasts.

Hence, the EMI of a fixed rate loan is known in advance. This is the cash outflow that can be planned for at the outset of the loan. If the inflation and the interest rate in the economy move up over the years, a fixed EMI is attractively stagnant and is easier to plan for. However, if you have fixed EMI, any reduction in interest rates in the market, will not benefit you.

Determinants of floating rate:

The EMI of a floating rate loan changes with changes in market interest rates. If market rates increase, your repayment increases. When rates fall, your dues also fall. The floating interest rate is made up of two parts: the index and the spread. The index is a measure of interest rates generally (based on say, government securities prices), and the spread is an extra amount that the banker adds to cover credit risk, profit mark-up etc. The amount of the spread may differ from one lender to another, but it is usually constant over the life of the loan. If the index rate moves up, so does your interest rate in most circumstances and you will have to pay a higher EMI. Conversely, if the interest rate moves down, your EMI amount should be lower.

Also, sometimes banks make some adjustments so that your EMI remains constant. In such cases, when a lender increases the floating interest rate, the tenure of the loan is increased (and EMI kept constant).

Some lenders also base their floating rates on their Benchmark Prime Lending Rates (BPLR). You should ask what index will be used for setting the floating rate, how it has generally fluctuated in the past, and where it is published/disclosed. However, the past fluctuation of any index is not a guarantee for its future behavior.

Flexibility in EMI:

Some banks also offer their customers flexible repayment options. Here the EMIs are unequal. In step-up loans, the EMI is low initially and increases as years roll by (balloon repayment). In step-down loans, EMI is high initially and decreases as years roll by.

Step-up option is convenient for borrowers who are in the beginning of their careers. Step-down loan option is useful for borrowers who are close to their retirement years and currently make good money.

6. What is monthly reducing balances method?

Borrowers benefit more from a loan that's calculated on a monthly reducing basis than on an annual basis. In case of monthly resets, interest is calculated on the outstanding principal balance for that month. The principal paid is deducted from the opening principal outstanding balance to arrive at the opening principal for the next month and interest is computed on the new, reduced principal outstanding. In case of annual resets, principal paid is adjusted only at the end of the year. Hence, you continue to pay interest on a portion of the principal that has been paid back to the lender.

7. How does tenure affect cost of loan?

The longer the tenure of the loan, the lesser will be your monthly EMI outflow. Shorter tenures mean greater EMI burden, but your loan is repaid faster. If you have a short-term cash flow mismatch, your bank may increase the tenure of the loan, and your EMI burden comes down. But longer tenures mean payment of larger interest towards the loan and make it more expensive.

8. What is an amortization schedule?

This is a table that gives details of the periodic principal and interest payments on a loan and the amount outstanding at any point of time. It also shows the gradual decrease of the loan balance until it reaches zero. (See annex)

9. What is pre-EMI interest?

Sometimes loan is disbursed in installments, depending on the stages of completion of the housing project.  Pending final disbursement, you may be required to pay interest only on the portion of the loan disbursed. This interest called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.

However, many banks offer a special facility whereby customers can choose the installments they wish to pay for under construction properties till the time the property is ready for possession. Anything paid over and above the interest by the customer goes towards Principal repayment. The customer benefits by starting EMI payment earlier and hence repays the loan faster. Please check with your banker whether this facility is available before availing of the loan.

10. What security will you have to provide?

The security for a housing loan is typically a first mortgage of the property, normally by way of deposit of title deeds. Banks also sometimes ask for other collateral security as may be necessary. Some banks insist on margin / down payment (borrowers contribution to the creation of an asset) to be maintained / made also.

Collateral security assigned to your bank could be life insurance policies, the surrender value of which is set at a certain percentage to the loan amount, guarantees from solvent guarantors, pledge of shares/ securities and investments like KVP/ NSC etc. that are acceptable to your banker. Banks would also require you to ensure that the title to the property is free from any encumbrance. (i.e., there should not be any existing mortgage, loan or litigation, which is likely to affect the title to the property adversely).

11. What precautions do you need to take if you are purchasing a property that is not a newly built one?

Ensure that the documents being provided to you are not colour photocopies. Check the internet for other modus operandi to fraud and ensure clear title to the asset. Seek advice only from authentic sources such as your bank.

Get the no encumbrance certificate to find the true title holder and if it is mortgaged to any financier. Obtain all tax papers to ensure that all documents are up to date.

12. What should be your strategy in dealing with the banks?

Give yourself comfortable time. Do not hurry your purchase or loan in any case. Shopping around for a home loan will help you to get the best financing deal. Shopping, comparing, seeking clarification and negotiating with banks may save you thousands of rupees.

a) Obtain information from several banks

Home loans are available from mainly two types of lenders--commercial banks and housing finance companies. Different lenders may quote you different rates of interest and other terms and conditions, so you should contact several lenders to make sure you’re getting the best value for money.

Find out how much of a down payment you are required to pay, and find out all the costs involved in the loan (including processing fees, administrative charges and prepayment charges levied by banks). Knowing just the amount of the EMI or the interest rate is not good enough. Similarly, ask for information on loan amount, loan term, and type of loan (fixed or floating) so that you can compare the information and take an informed decision.

The following is some important information that you will require.

i) Rates

Ask your lender about its current home loan interest rates and whether the rate is fixed or floating.  Remember that when interest rates in the economy go up so does the floating rates and hence the monthly re-payment.

If the rate quoted is a floating rate, ask how your rate and loan payment will vary, including the extent to which your loan payment will be reduced when rates go down by a certain percentage. Ask your lender to what index your floating home loan is referenced / linked and the periodicity of updation of that index. Also ask your bank whether the index is internal or external and how and where it is published.

Ask about the loan’s annual percentage rates (APR). The APR takes into account not only the interest rate but also fees and certain other charges that you may be required to pay, expressed as a yearly rate. Banks are obliged to reveal the APR if requested for by the customer.

ii) Reset Clause

Check the reset clause, especially in the case of fixed interest rate loan as the rates will not be fixed throughout the tenure of the loan.

iii) Spread/Mark up

Check if the margin in the case of the floating rate is fixed or variable. The rate of interest you have to pay will vary accordingly.

iv) Fees

A home loan often requires payment of various fees, such as loan origination or processing charges, administrative charges, documentation, late payment, changing the loan tenure, switching to different loan package during the loan tenure, restructuring of loan, changing from fixed to floating interest rate loan and vice versa, legal fee, technical inspection fee, recurring annual service fee, document retrieval charges and pre-payment charges, if you want to prepay the loan. Every lender should be able to give you an estimate of its fees. Many of these fees are negotiable / can be waived also.

Ask what each fee includes. Sometimes several components are lumped into one fee. Ask for an explanation of any fee you do not understand. Also, remember that most of these fees are perhaps negotiable! Do negotiate with your bank before agreeing to a particular fee. See how the all inclusive rate compares with the all inclusive rates offered by other banks. While planning your finances, don't forget to include the costs of stamp duty and registration.

v) Down Payments / Margin

Some lenders require 20/30 percent of the home’s purchase price as a down payment from you. However, many lenders also offer loans that require less than 20/30 percent down payment, sometimes as little as 5 percent .Ask about the lender’s requirements for a down payment and also negotiate with him to reduce the down payments.

b) Obtain the best deal

Once you know what each bank has to offer in terms of rates, fees and down payments, negotiate for the best deal. Ask the lender to write down all the costs associated with the loan. Then ask if the bank will waive or reduce one or more of its fees or agree to a lower rate. Do make sure that the bank is not agreeing to lower one fee while raising another or to lower the rate while raising the fees. Ask for clarification in case you do not understand any particular term. All banks are obliged to explain the most important terms and conditions of the home loan in detail.

Once you are satisfied with the terms you have negotiated, please do obtain a written offer letter from the lender and keep a copy with you. Read the offer letter carefully before signing.

13. Can you repay your loan ahead of schedule? Is pre-payment of loan allowed?

Yes, most banks allow you to repay the loan ahead of schedule by making lump sum payments. However, many banks charge early repayment penalties up to 2-3% of the principal amount outstanding. Prepayment penalty may vary according to the reasons and source of funds - if you obtain a loan from another bank for pre-payment the charges are usually higher than when you pay from your own sources. However, you may credit more than your EMI amount into your loan account on a periodic basis and bring down your interest burden as and when funds are available with you. Most banks do not charge a pre-payment penalty if you deposit more than your EMI payable on a periodic basis. Please check such stipulations while availing the loan.

14. What are Switch over charges/ balances transfer charges?

When other banks reduce the interest rate, you may prefer to close your account with the bank with whom you are banking, to avail of the loan from the bank offering reduced rates of interest. You have to pay pre-payment charges for doing so. In order to ensure that their customers do not approach other banks for availing reduced interest rates, banks allow customers to switch over from a higher interest loan to a lower interest loan by paying a switch over fees which is lesser than the pre-payment charges. Generally switchover fee is taken as percentage of the outstanding loan amount.

Keep up-dating yourself on various changes in the home loan market. Visit the branch, discuss with the officials to get the best out of any changes in the home loan scenario.

15.  Do you get a tax benefit on the loan?

Yes. Resident Indians are eligible for certain tax benefits on both principal and interest components of a loan under the Income Tax Act, 1961. Under the current laws, you are entitled to an income tax rebate for interest repayment up to Rs. 1,50,000 /- per annum. Moreover, you can get added tax benefits under Section 80 C on repayment of principal amount up to Rs. 1,00,000 /- per annum.

16. What are the minimum standards that banks are required to follow when they sell you a home loan?

   1. At the time of sourcing the loan, banks are required to provide information about the interest rate applicable, the fees / charges and any other matter which affects your interest and the same are usually furnished in the product brochure of the banks. Complete transparency is mandatory.
   2. The banks will supply you authenticated copies of all the loan documents executed by you at their cost along with a copy each of all enclosures quoted in the loan document on request.

A bank cannot reject your loan application without furnishing valid reason(s) for the same.

17. What do you do if you have a grievance?

If you have a complaint against only scheduled bank on any of the above grounds, you can lodge a complaint with the bank concerned in writing in a specific complaint register provided at the branches as per the recommendation of the Goiporia Committee or on a sheet of paper. Ask for a receipt of your complaint. The details of the official receiving your complaint may be specifically sought. If the bank fails to respond within 30 days, you can lodge a complaint with the Banking Ombudsman. (Please note that complaints pending in any other judicial forum will not be entertained by the Banking Ombudsman). No fee is levied by the office of the Banking Ombudsman for resolving the customer’s complaint. A unique complaint identification number will be given to you for tracking purpose. (A list of the Banking Ombudsmen along with their contact details is provided on the RBI website).

Complaints are to be addressed to the Banking Ombudsman within whose jurisdiction the branch or office of the bank complained against is located. Complaints can be lodged simply by writing on a plain paper or online at www.bankingombudsman.rbi.org.in or by sending an email to the Banking Ombudsman. Complaint forms are available at all bank branches also.

Complaint can also be lodged by your authorised representative (other than a lawyer) or by a consumer association / forum acting on your behalf.

If you are not happy with the decision of the Banking Ombudsman, you can appeal to the Appellate Authority in the Reserve Bank of India.

REVERSE MORTGAGE LOAN

18. What is reverse mortgage loan? What is my eligibility and how I will get back the title deeds?

The scheme of reverse mortgage has been introduced recently for the benefit of senior citizens owning a house but having inadequate income to meet their needs. Some important features of reverse mortgage are:

    * A homeowner who is above 60 years of age is eligible for reverse mortgage loan. It allows him to turn the equity in his home into one lump sum or periodic payments mutually agreed by the borrower and the banker.

    * The property should be clear from encumbrances and should have clear title of the borrower.

    * NO REPAYMENT is required as long as the borrower lives, Borrower should pay all taxes relating to the house and maintain the property as his primary residence.

    * The amount of loan is based on several factors: borrower’s age, value of the property, current interest rates and the specific plan chosen. Generally speaking, the higher the age, higher the value of the home, the more money is available.

    * The valuation of the residential property is done at periodic intervals and it shall be clearly specified to the borrowers upfront. The banks shall have the option to revise the periodic / lump sum amount at such frequency or intervals based on revaluation of property.

    * Married couples will be eligible as joint borrowers for financial assistance. In such a case, the age criteria for the couple would be at the discretion of the lending institution, subject to at least one of them being above 60 years of age.

    * The loan shall become due and payable only when the last surviving borrower dies or would like to sell the home, or permanently moves out.

    * On death of the home owner, the legal heirs have the choice of keeping or selling the house. If they decide to sell the house, the proceeds of the sale would be used to repay the mortgage, with the remainder going to the heirs.

    * As per the scheme formulated by National Housing Bank (NHB), the maximum period of the loan period is 15 years. The residual life of the property should be at least 20 years. Where the borrower lives longer than 15 years, periodic payments will not be made by lender. However, the borrower can continue to occupy.

    * From FY 2008-09, the lump sum amount or periodic payments received on reverse mortgage loan will not attract income tax or capital gains tax.

Note- Reverse mortgage is a fixed interest discounted product in reverse. It does not take into account the changes in interest rates as yet.

Important – This part is fine printed to help you practice reading the fine print. The loan agreement documentation runs into nearly 50 pages and its language is complex. If you thought everyone signs the same agreements with the bank, where is the need to read? You are not taking an informed decision. If you thought somebody would have pointed this to me if there was any problem, then maybe they did but you could not read or listen to it. Think again! Borrowers' and lenders' rights may not be expressed clearly in a transparent manner in all the loan agreements. The home loan agreement may not be provided to you in advance so that this could be read and understood before you sign the agreement. Every method may be used to delay handing over a copy to the borrower in sufficient time. Some areas you may focus are a) check the “reset clause” incorporated by some banks in their home loan agreements that allows them to change the interest rate in the future, even on fixed rate loans. Banks may set their reset clauses for 3 or 2 year intervals.  They say a lender cannot have an agreement that a fixed rate is set for the entire tenure of 15 to 20 years as this will cause an asset-liability mismatch. Talk to your bank. b) Please seek clarifications on the term “exceptional circumstances” (if stated in the loan agreement) under which loan rates can be unilaterally changed by your bank. c) A common person thinks that default ideally means non-payment of one or more loan installments. In some loan documentation it can include divorce and death (in individual case) and even involvement in civil litigation or criminal offence. d) Does the loan agreement say that disbursement of the loan may be made directly to the builder or developer and in the case of a ready-built property to the vendor thereof and/or in such other manner as may be decided solely by bank? It is the borrower whose original property papers are retained with the bank, so why disburse to the builder. Possession of property has been  delayed in some cases when the cheque was issued in the name of the builder and the builder refused to pay delay penalty to the borrower e) Does the agreement enable assignment of your loan to a third party?  You take into account reputation and credibility of the bank before entering into a loan agreement with it. Are you comfortable with third party takes over or should you also be allowed to move your home loan from one bank to another in that case? Look for ambiguous clauses and discuss with the banker. Some agreements say changes in employment etc. have to be informed well in advance without quantifying the term “well in advance”. f) In one case the loan documentation says “issuance of pre-approval letter should not be construed as a commitment by the bank to grant the housing loan and processing fees is not re-fundable even if the home loan is not processed”. This is never ending it seems. The above are only indicative instances of what has been observed / reported/ indicated by various sources. However, our main objective was to get you into the habit of reading the fine print. If you have read this, you would have understood the importance of reading fine print in any document and we have achieved our objective. I only wish I could have made the print smaller as in the real cases.

You can download the EMI Calculator from HERE.

Toll Free Numbers in INDIA

Toll Free Numbers in India

Airlines

Indian Airlines 1800 180 1407
Jet Airways 1800 22 5522
Spice Jet 1800 180 3333

Air India 1800 22 7722

Kingfisher 1800 180 0101

Banks

ABN AMRO 1800 11 2224
Axis Bank Ltd. 18604258888
Canara Bank 1800 44 6000
Citibank 1800 44 2265
Corporation Bank 1800 443 555
Development Credit Bank 1800 22 5769
HDFC Bank 1800 227 227
ICICI Bank 1800 333 499
ICICI Bank NRI 1800 22 4848
IDBI Bank 1800 11 6999
Indian Bank 1800 425 1400
ING Vysya 1800 44 9900
Kotak Mahindra Bank 1800 22 6022
Lord Krishna Bank 1800 11 2300
Punjab National Bank 1800 122 222
State Bank of India 1800 44 1955
Syndicate Bank 1800 44 6655

Automobiles
 

Mahindra Scorpio 1800 22 6006
Maruti 1800 111 515
Tata Motors 1800 22 5552
Windshield Experts 1800 11 3636

Computers/IT
 

Adrenalin 1800 444 445
AMD 1800 425 6664
Apple Computers 1800 444 683
Canon 1800 333 366
Cisco Systems 1800 221 777
Compaq HP 1800 444 999
Data One Broadband 1800 424 1800
Dell 1800 444 026
Epson 1800 44 0011
eSys 3970 0011
Genesis Tally Academy 1800 444 888
HCL 1800 180 8080
IBM 1800 443 333
Lexmark 1800 22 4477
Marshal's Point 1800 33 4488
Microsoft 1800 111 100
Microsoft Virus Update 1901 333 334
Seagate 1800 180 1104
Symantec 1800 44 5533
TVS Electronics 1800 444 566
WeP Peripherals 1800 44 6446
Wipro 1800 333 312
Xerox 1800 180 1225
Zenith 1800 222 004

Indian Railway Enquiries
 

Indian Railway General Enquiry 131
Indian Railway Central Enquiry 131
Indian Railway Reservation 131
Indian Railway Railway Reservation Enquiry 1345,1335,1330
Indian Railway Centralised Railway Enquiry 1330/1/2/3/4/ 5/6/7/8/9

Couriers/Packers & Movers
 

ABT Courier 1800 44 8585
AFL Wizz 1800 22 9696
Agarwal Packers & Movers 1800 11 4321
Associated Packers P Ltd 1800 21 4560
DHL 1800 111 345
FedEx 1800 22 6161
Goel Packers & Movers 1800 11 3456
UPS 1800 22 7171
 

Home Appliances
 

Aiwa/Sony 1800 11 1188
Anchor Switches 1800 22 7979
Blue Star 1800 22 2200
Bose Audio 1800 11 2673
Bru Coffee Vending Machines 1800 44 7171
Daikin Air Conditioners 1800 444 222
DishTV 1800 12 3474
Faber Chimneys 1800 21 4595
Godrej 800 22 5511
Grundfos Pumps 1800 33 4555
LG 1901 180 9999
Philips 1800 22 4422
Samsung 1800 113 444
Sanyo 1800 11 0101
Voltas 1800 33 4546
WorldSpace Satellite Radio 1800 44 5432
 

Investments/ Finance
 

CAMS 1800 44 2267
Chola Mutual Fund 1800 22 2300
Easy IPO's 3030 5757
Fidelity Investments 1800 180 8000
Franklin Templeton Fund 1800 425 4255
J M Morgan Stanley 1800 22 0004
Kotak Mutual Fund 1800 222 626
LIC Housing Finance 1800 44 0005
SBI Mutual Fund 1800 22 3040
Sharekhan 1800 22 7500
Tata Mutual Fund 1800 22 0101

Travel
 

Club Mahindra Holidays 1800 33 4539
Cox & Kings 1800 22 1235
God TV Tours 1800 442 777
Kerala Tourism 1800 444 747
Kumarakom Lake Resort 1800 44 5030
Raj Travels & Tours 1800 22 9900
Sita Tours 1800 111 911
SOTC Tours 1800 22 3344
 

Healthcare 

Best on Health 1800 11 8899
Dr Batras 1800 11 6767
GlaxoSmithKline 1800 22 8797
Johnson & Johnson 1800 22 8111
Kaya Skin Clinic 1800 22 5292
LifeCell 1800 44 5323
Manmar Technologies 1800 33 4420
Pfizer 1800 442 442
Roche AccuChek 1800 11 45 46
Rudraksha 1800 21 4708
Varilux Lenses 1800 44 8383
VLCC 1800 33 1262

Insurance
 

AMP Sanmar 1800 44 2200
Aviva 1800 33 2244
Bajaj Allianz 1800 22 5858
Chola MS General Insurance 1800 44 5544
HDFC Standard Life 1800 227 227
LIC 1800 33 4433
Max New York Life 1800 33 5577
Royal Sundaram 1800 33 8899
SBI Life Insurance 1800 22 9090
 

Hotel Reservations
 

GRT Grand 1800 44 5500
InterContinental Hotels Group 1800 111 000
Marriott 1800 22 0044
Sarovar Park Plaza 1800 111 222
Taj Holidays 1800 111 825
Teleshopping
Asian Sky Shop 1800 22 1800
Jaipan Teleshoppe 1800 11 5225
Tele Brands 1800 11 8000
VMI Teleshopping 1800 447 777
WWS Teleshopping 1800 220 777

Others
 

Domino's Pizza 1800 111 123
Cell Phones
BenQ 1800 22 08 08
Bird CellPhones 1800 11 7700
Motorola MotoAssist 1800 11 1211
Nokia 3030 3838
Sony Ericsson 3901 111

DISCOUNT SCHEMES FOR YOU - Himachal Road Transport Corporation

Friends,

If you are planning to have a Tour of Himachal Pradesh, India then you can view Bus Time Table of Himachal Road Transport Corporation HERE. You can also get ONLINE RESERVATION of HRTC Buses.  There are some discount schemes for you described as under :-

DISCOUNT SCHEMES FOR YOU

The Corporation has adopted following discount schemes for the traveling public:-

1. Group Discount Scheme.

A group of 10 or more passengers is allowed a discount in fare @ 10%.

2. Smart Card Scheme.

HRTC has introduced "SMART CARD". Under this scheme, a smart card holder is allowed 10% concession in fare for traveling in HRTC buses. The senior citizen as a special gesture is allowed 20% concession in fare. The general public can purchase the smart card against a payment of Rs. 50/- having its validity for one year.

3. Yellow Card Scheme.

Under this scheme, the card holder is allowed 20% discount in fare within the radius of 40 kms from place of issue of smart card or place opted by him. Smart Card can be purchased against a payment of Rs. 50/- having its validity for one year.

CONCESSIONAL/FREE TRAVELING FACILITIES PROVIDED BY HRTC :-

1. Govt. Schools/ College students

Allowed concessional traveling facility for a month against payment of 10 single fare.

(In ordinary buses).

2. Public/Private Schools

Allowed concessional traveling facility for a month against payment of 40 single fare.

(In ordinary buses).

3. Govt. Employees. Allowed concessional traveling facility for a month against payment of 30 single fare upto a distance of 50 Kms. (In ordinary buses).

4. Handicapped persons Allowed free traveling facility within the State & blind personnel are allowed free traveling even outside the State also. (In ordinary buses).

5. Police Personnel upto the rank of Inspector. Allowed free traveling facility within and outside the State. (In ordinary buses).

6. Jail Wardens. Allowed free traveling facility within and outside the State. (In ordinary buses).

7. Freedom Fighters with one attendant. Free traveling facility allowed within and outside the State along with one attendant. (In all type of buses except A.C.).

8. Gallantry Awards Winners Free traveling facility allowed within and outside the State. (In all type of buses except A.C.).

9. War Widows with one attendant free. Free traveling facility allowed within the State.

(In ordinary buses).

10. Hon'ble M.Ps./M.L.As with one attendant,Ex.M.Ps./ Ex. M.L.As /Press Correspondents. Free traveling facility allowed within and outside the State. (In all type of buses).

11. Thalassaemic patients

Free traveling within & outside State.

(In all type of buses except A.C.).

12. Orphan Students. Free traveling upto +2 class. (In ordinary buses)

13. Cancer/multi fracture injuries. Free traveling on referral slip. (In ordinary buses)

14. State Awardees Teachers Six free pass in a year for traveling within State. (In ordinary buses).

15.Parent(s) of Un-married posthumous Gallantry Award Winner.

Free traveling in all type of buses except A.C.

16 Padma Shree Awardees:-

i) Sh. Charanjit Singh

ii) Sh. Rajinder Kumar

Free traveling in all type of buses except A.C.

17 Sh. Sunder Lal Bahuguna Social Worker , Sh. Mangal Singh. Free traveling in all type of buses except A.C.

Enjoy your journey.

All the Best.

How to apply for Passport

Apply for Passport

 

The Consular Passport and Visa (CPV) Division of the Ministry of External Affairs is responsible for the issuance of the Indian Passport to Indian Citizens. Passports are issued to Indian citizens from 30 locations across the country and 163 Indian missions abroad.

All information pertaining to the issuance of Passports can be availed from the Central website passport.gov.in (External website that opens in a new window). All the Passport offices (External website that opens in a new window) located in India have an online Status Enquiry Service (External website that opens in a new window) , whereby one can check the status of a passport application by entering the File Reference Number available in the receipt. Applicants can also avail the facility to submit their grievances online, in case there are any.

How to Apply For a Passport (External website that opens in a new window)

To apply for a fresh Passport, re-issue of Passports/ issue of Passports in lieu of lost & damaged Passports and for miscellaneous services, obtain the relevant Passport Application Form from any of the Passport Offices or the designated Speed Post centers or any of the designated outlets in your city. The Passport Application Form (External website that opens in a new window) can also be downloaded by clicking here.

Click here for the detailed eligibility rules and instructions for filling up the form. (External website that opens in a new window)

The carefully filled up Application Form has to be submitted, along with proof of residence, proof of date of birth, personal particulars form (if applicable), 'No Objection Certificate' (in case of Government of Public Sector Employees), necessary affidavits and other supporting documents at any of following locations, under the jurisdiction of which the applicant is presently residing:

1. Across the counter of the Passport office
2. At the Speed Post centers
3. District Passport Cells
4. Passport Collection Centers

For further information and details, kindly visit the central website of the Passport Office

वरिष्‍ठ नागरिक बचत योजना

बचत योजना

• क्‍या मैं बचत योजना में संयुक्‍त खाता खोल सकता हूं?
• संयुक्‍त खाते के दूसरे आवेदक के लिए कितनी आयु निर्धारित की गई है?
• संयुक्‍त खाते की राशि में संयुक्‍त खाता धारक का कितना हिस्‍सा होता है?
• यदि जमाकर्ता खाता परिपक्‍व होने पर उसे बंद नहीं करता और अगले तीन वर्षों के लिए उसकी अवधि नहीं बढ़ाता तो ब्‍याज का हिसाब कैसे लगाया जाएगा?
• क्‍या इस योजना को आय कर से कोई छूट प्राप्‍त है?
• क्‍या 'क' अपने पति या पत्‍नी 'ख' के साथ 15 लाख रुपए की स्‍वीकृत अधिकतम जमा राशि के साथ संयुक्‍त खाता खोल सकता है और इसी प्रकार 'ख' अलग से अथवा 'क' के साथ संयुक्‍त रूप से कोई दूसरा खाता खोल सकता है?
• क्‍या मुझे आवधिक रूप से जमा किए जाने वाले ब्‍याज के लिए एक नया बचत खाता खोलने की जरुरत है?
• क्‍या कई बार आहरण करने की अनुमति है?
• क्‍या नामांकन करने और/अथवा नामांकन में परिवर्तन करने या उसे रद्द करने के लिए कोई शुल्‍क लिया जाता है?

क्‍या मैं बचत योजना में संयुक्‍त खाता खोल सकता हूं?

उत्‍तर: हां, अपने पति या पत्‍नी के साथ संयुक्‍त खाता खोल सकते हैं।

संयुक्‍त खाते के दूसरे आवेदक के लिए कितनी आयु निर्धारित की गई है?

उत्‍तर: संयुक्‍त खाते के मामले में पहले आवेदक की आयु ही इस योजना के तहत निवेश की पात्रता निर्धारित करने का कारक है।

संयुक्‍त खाते की राशि में संयुक्‍त खाता धारक का कितना हिस्‍सा होता है?

उत्‍तर: इस योजना के तहत केवल पहला आवेदक ही राशि जमा करने के लिए पात्र है इसलिए संयुक्‍त खाता धारक अथवा पति या पत्‍नी के हिस्‍से का प्रश्‍न नहीं उठता।

यदि जमाकर्ता खाता परिपक्‍व होने पर उसे बंद नहीं करता और अगले तीन वर्षों के लिए उसकी अवधि नहीं बढ़ाता तो ब्‍याज का हिसाब कैसे लगाया जाएगा?

उत्‍तर: परिपक्‍वता की अवधि के बाद खाते को परिपक्‍व माना जाएगा। डाकघर बचत खातों के तहत जमाराशि पर लागू परिपक्‍वता के बाद की वर्तमान ब्‍याज दर परिपक्‍वता के बाद की अवधि के लिए लागू होगा। परिपक्‍वता के बाद भुगतान किए गए अतिरिक्‍त ब्‍याज राशि (एससीएसएस के तहत जमाराशियों पर लागू दर से उच्‍चतर दर पर) घटा दी जाएगी।

क्‍या इस योजना को आय कर से कोई छूट प्राप्‍त है?

उत्‍तर: इस योजना के तहत आयकर में कोई छूट नहीं है। इस पर वर्तमान आयकर के प्रावधान ही लागू होंगे।

क्‍या 'क' अपने पति या पत्‍नी 'ख' के साथ 15 लाख रुपए की स्‍वीकृत अधिकतम जमा राशि के साथ संयुक्‍त खाता खोल सकता है और इसी प्रकार 'ख' अलग से अथवा 'क' के साथ संयुक्‍त रूप से कोई दूसरा खाता खोल सकता है?

उत्‍तर: हां, दोनों पति या पत्‍नी अलग-अलग अथवा एक-दूसरे के साथ मिलकर संयुक्‍त खाते खोल सकते हैं। अधिकतम जमा राशि 15 लाख रुपए तक होनी चाहिए।

क्‍या मुझे आवधिक रूप से जमा किए जाने वाले ब्‍याज के लिए एक नया बचत खाता खोलने की जरुरत है?

उत्‍तर: ऐसी कोई शर्त विनिर्दिष्‍ट नहीं है। आपका देय ब्‍याज आपके वर्तमान बचत खाते में जमा कर दिया जाएगा।

क्‍या कई बार आहरण करने की अनुमति है?

उत्‍तर: नहीं, हालांकि 15 लाख रुपए की कुल उच्‍चतम सीमा के अंतर्गत कई खाते खोलने पर कोई रोक नहीं है।

क्‍या नामांकन करने और/अथवा नामांकन में परिवर्तन करने या उसे रद्द करने के लिए कोई शुल्‍क लिया जाता है?

उत्‍तर: ऐसा कोई शुल्‍क नहीं लिया जाता।