Bajaj Allianz charges heavily even after serving minimum period

Beware of any ULIP plans, especially from Bajaj Allianz. You will feel cheated when you will be in need of money, and want to get money from them.

While purchasing the policy their agents tell that you can withdraw the money after 3 years of premium. But the thing they don't tell is that you can't withdraw your own money even after that (minimum 20 years!). You should have been read your 60 pages documents to verify, and to catch their agents lies.

Lets take a scenario of Bajaj Allianz ULIP as follow:

• 15,000/- is the premium for a year
• 3 years is the Minimum number of years you have to pay
• 60,000/- you paid for 4 years (minimum period served)
• Say as per 9.0 pa interest (FD rates), you would have earned 22,000/- interest without any risk.
• Total Investment : 82000/-

Now let see what they got,

• -10,000 maintenance charges for 4 years
• -8,000 for surrender charges (they never tell you about that)
• -22,000 As market neither did good nor bad (only Bajaj Allianz got money, not you)
• YOUR TOTAL LOSS  = Bajaj Allianz Profit =  40,000/-

Lets say market doesn't change much (went up and down in 4 years). What you got:

• 60,000 you paid, and as per interest of 9 pa, this amount should have around 82,000 by now.
• They have taken 18,000 from you (off course they have to pay their employee salary from your pocket)
• You get 60,000 - 18,000 = 42,000/-

How much You Lost :

• 82000 - 42000 = 40,000/- (50% of your money)

I've invested and studied many ULIPs plan, and suggest you not to invest in any ( and never in Bajaj Allianz).

How to complain for DND not working?

Registering Complaints

If you receive any unsolicited commercial communications seven days after registration of your telephone number, you may register a complaint by:

• Dialing the toll free number 1909;
• or Sending an SMS to 1909
  • You may register a complaint regarding receipt of unsolicited commercial communications by sending SMS to 1909  in the specified format given below:

    • “COMP TEL NO XXXXXXXXXX, dd/mm/yy, Time hh:mm”
    • Where XXXXXXXXXX – is the telephone number or header of the SMS, as the case may be,from which the unsolicited commercial communication has originated
    • Example:
    • 1): You have received an SMS from DM-IAMU on 30th Sep’11 at 2pm. Then your complaint SMS will be “COMP TEL NO DM-IAMU, 30/09/11, Time 14:00” and send it to 1909.
    • 2): You have received an SMS / call from 9123456789 on 1st Oct’11 at 11.35am. Then your complaint SMS will be “COMP TEL NO 9123456789, 01/10/11, Time 11:35” and send it to 1909.
  • The complaint will be registered and acknowledged by MTNL by sending a unique complaint number through SMS
Please note:
• The complaint has to be registered from the telephone number on which unsolicited commercial communication has been received
• Your complaint must be made within three days of receipt of the unsolicited commercial communication

Registration of Preference/Change of Preference/ De-registration

• For registration of preference, send SMS in the format "START‹option(s)› " to 1909 e.g. to receive SMSs Option 'Real State' send SMS in the format "START 2" to 1909.
• For change of preference, send SMS in the format “STOP‹option(s)›"  to stop the existing options and “START‹option(s)›” to 1909

• For de-registration, send SMS in the format “STOP” to 1909
• Customers can choose to receive SMSs from multiple options e.g. to receive SMSs from options ‘Education’ and ‘Health’, send SMS in the format “START 3,4” to 1909.
• For registering option for "Fully Blocked Category" send "START 0" to 1909

You can register preference to receive messages from following categories:

• Fully Blocked Category (No Telemarketing Call/ SMS)
• Partially Blocked CategoryOptions under partially blocked category:

1. Banking / Insurance / Financial products / credit cards

2. Real Estate

3. Education

4.Health

5. Consumer goods and automobiles

6. Communication / Broadcasting / Entertainment / IT

7.Tourism and Leisure

Source: 

• http://mtnlmumbai.in/index.php/do-not-disturb
• http://www.telecomdiary.com/ti/do-not-disturb-register-dnd/dnd-now-ncpr-compliant-registration-procedure/

LnT Tax saving bonds closing on Dec 24, 2011

While IDFC Long Term Infrastructure bonds are closing on 16 Dec'2011, LnT bonds are opened as well on 24 Nov'2011. Details are as follow:

Company Profile:

L & T Infrastructure Finance Company Limited, a 100% subsidiary of Larsen & Toubro Limited, was incorporated in 2006, and is registered with the RBI as a systemically important non deposit taking NBFC and classified as an IFC. The company’s business comprises the provision of financial products and services for customers engaged in infrastructure development, construction and operations & maintenance with a focus on the power, roads, telecommunications, oil and gas and ports sectors in India. The company is registered with the RBI as an Infrastructure Finance Company, or “IFC”, which allows it to optimize its capital structure by diversifying its borrowings and accessing long-term funding resources, thereby expanding its financing operations while maintaining its competitive cost of funds.

Issue highlights (Tranche I):
Face value: Rs. 1,000
Minimum Application: 5 Tranche 1 Bonds and in multiple of 1 Tranche 1 Bond thereafter.
Lock-in Period: 5 years from the deemed date of allotment.
Maturity: 10 years from the Deemed Date of Allotment.

Issue summary:
Issue opens: November 25, 2011. 
Issue closes: December 24, 2011.
Registrar: Sharepro Services (India) Private Limited.
Debenture Trustees: Bank of Maharashtra.
Lead Managers: ICICI Securities, JM Financial & Karvy Investor Services Ltd.
Co-Lead Managers: Bajaj Capital Ltd, RR Investor, SMC Capital, Integrated Enterprises

Credit rating: AA+

Issue details:

Tranche 1 Bond Series	1	2
Frequency of Interest payment	Annual	Cumulative
Face Value per Bond	Rs. 1,000/-	Rs. 1,000/-
Lock in Period	5 years from the deemed date of allotment
Buyback Facility	YES
Buyback Amount	Rs. 1,000/- at the end of 5 years/Rs. 1,000/- at the end of 7 years	Rs. 1,538.62/- at the end of 5 years/ Rs. 1,828.04/- at the end of 7 years
Buyback Intimation Period	The period commencing from 6 months preceding the relevant Buyback Date and Ending 3 months prior to such Buyback Date.
Interest Rate	9.00% p.a.	9.00% p.a. compounded annually
Maturity Date	10 years from the Deemed Date of Allotment	10 years from the Deemed Date of Allotment
Maturity Amount	Rs. 1,000/-	Rs. 2,367.36/-
Yield on Maturity	9.00%	9.00% compounded annually
Yield on Buyback	9.00%	9.00% compounded annually

Useful Government Links

e-Stamp	https://www.shcilestamp.com/
Passport of India	http://passportindia.gov.in/
Bangalore RTO	Fines Driver Info
PAN Card of India	https://www.tin-nsdl.com/pan/pan-index.php
National Portal of India	http://india.gov.in
The Parliament of India	http://www.parliamentofindia.nic.in
Ministry of Communications and Information Technology	http://www.moc.gov.in
Department of Telecommunication	http://www.dot.gov.in
Private Investment Promotion in Indian Telecom	http://www.dot.gov.in/osp/osp.html
Telecom Regulatory Authority of India	http://www.trai.gov.in
Telecom Engineering Center	http://www.tec.gov.in
Center for Development of Telematics	http://www.cdot.com
Wireless Planning & Coordination Wing	http://www.wpc.dot.gov.in
Indian Telephone Industries Limited	http://www.itiltd-india.com
Hindustan Tele-printers  Limited	http://www.htlmadras.com
Mahanagar Telephone Nigam Limited	http://www.mtnl.net.in
Telecommunications Consultants of India Limited	http://www.tcil-india.com
Sancharnet (BSNL Internet Service)	http://www.sancharnet.in
Directory of Indian Ministries and Departments	http://www.nic.in
Ministry of Information Technology	http://www.mit.gov.in
Ministry of Finance	http://www.finmin.nic.in
Secretariat of Industrial Assistance	http://www.indmin.nic.in
Department of Commerce	http://www.commin.nic.in
Ministry of External Affairs	http://www.meadev.nic.in
Reserve Bank of India	http://www.rbi.org.in
Securities and Exchange Board of India	http://www.sebi.gov.in
Confederation of Indian Industry	http://www.ciionline.org
Associated Chambers of Commerce	http://www.assocham.org
Federation of Indian Chambers of Commerce and Industry	http://www.bisnetindia.com
International Telecommunications Union (ITU)	http://www.itu.int/
Asia-Pacific Telecommunity (APT)	http://www.aptsec.org

IFCI Tax saving bonds closing on November 14, 2011

Last few days are left before the Closure Date of the Series III Issue of Tax Saving Infrastructure Bonds of IFCI Limited that opened on September 21, 2011 (scheduled to close on November 14, 2011 - unless decided to pre-close). 

The Long Term Infrastructure Bonds carry tax benefits under Section 80 CCF of Income Tax Act, 1961 up-to an investment of Rs.20,000/- during the FY 2011-12. The four options available for investment and other key highlights of the Issue are as under :

Option I	Option II	Option III	Option IV
10 Years	10 Years	15 Years	15 Years
Cumulative	Annual	Cumulative	Annual
8.50% p.a.	8.50% p.a.	8.75% p.a.	8.75% p.a.
Buyback option at 5th and 7th year end		Buyback option at 7th, 10th and 12th  year end
1.   Bonds can be applied-for in physical or dematerialized form 2.   The face value and Issue price per bond is Rs. 5,000/- 3.   Bonds shall be listed on Bombay Stock Exchange (BSE) 4.   There is lock-in period of 5 years after which they can be traded/transferred 5.   Only Resident Indian Individuals (major) / HUF can apply.

For further details including downloading of the Application Form, Information Memorandum etc., you may visit the website www.ifciltd.com or click at http://www.ifciltd.com/IFCIBonds/InfrastructureBonds/CurrentIssue/tabid/225/Default.aspx

Should you require any further clarification, feel free to write at infrabonds@ifciltd.com.

Also read : http://timir126.blogspot.com/2010/10/idfc-long-term-infrastructure-bonds-ipo.html