Fwd: Today's Exclusives - Did New India overcharge lakhs of policyholders? II

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From: Moneylife <noreply@moneylife.in>
Date: Mon, May 14, 2012 at 6:19 PM
Subject: Today's Exclusives - Did New India overcharge lakhs of policyholders? II
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14 May 2012   Moneylife Exclusive Did New India overcharge lakhs of policyholders? – II Raj Pradhan New India Assurance admitted that a software glitch resulted in overcharging mediclaim premium, but has dragged its feet on providing information. It now says that it gave a wrong date for refund eligibility on its website. New India's mantra seems to be "If you cannot convince them, confuse them"...   ADVT Other ML Exclusives   Daily cleansing for the mind "Success isn't about money or fame. Success is living a life you feel proud of"... .................................................................................................................................................... Daily Market Report: Nifty struggling to rally The Nifty may try to stage a rally but the problem is that the US market is likely to decline sharply... .................................................................................................................................................... Public Protests: A time to join hands Tax-paying middle-class must come out of its cynicism while grassroots agitators must learn to be less suspicious of them... .................................................................................................................................................... Futures and options have stopped trading suddenly on NSE NSE has not provided any explanation so far... .................................................................................................................................................... S&P 500 index futures volumes in collapses by 85% on the National Stock Exchange The S&P futures derivative product launched by the NSE is finally paying for its inherent limitations. Volumes have collapsed as investors and brokers shun a product which can only be traded when the US market is closed, creating uncontrollable risk... .................................................................................................................................................... Aadhaar: The story of mistrust and misuse Biometrics is not the only problem, the enrolment process and authentication systems are also emerging as serious issues with the UID or Aadhaar identification project. This is also forcing banks to search for other alternatives for payment authentication... .................................................................................................................................................... Minister shows LIC in good light using outdated data The minister for state for finance told parliament that LIC made a profit on PSU investments until 31 March 2012. It has certainly racked up big losses since then... .................................................................................................................................................... 90% of Herbalife and Nu Skin distributors make no money According to an analysis by Barron's, a US financial magazine, only by digging into the footnotes of reports, and checking other regulatory filings, can one estimate that their earning tables leave out 90% of Herbalife's distributors and almost 95% of Nu Skin's. More importantly, it documents how MLMs are getting their money from micro-credit institutions—an issue that is of serious relevance to India, where tens of thousands MLMs are luring the poorest people... .................................................................................................................................................... Management's tales and quarterly earnings Markets tend to be sceptical about good news, which partially explains the muted reaction to this quarter's positive earnings numbers. Bad news, on the other hand, is considered far more credible and the market has a much greater reaction, which can push a company's stock down by as much as 10%... .................................................................................................................................................... El Niño possibility lowers normal monsoon forecast According to Rajan Alexander of Dev Consult Group, which tracks international weather forecasts, the El Niño appears to be virtually struggling to establish itself for the last couple of months. Experts say that considering that the large part of country is already in a drought-like situation, the news will severely impact Indian farming community... .................................................................................................................................................... Settling down in the Courtyard Working at the front desk meant dealing with "oversold" situations and tricky guests. The 33rd part of a series describing the unknown triumphs and travails of doing international business...   ADVT     Personal finance today - Brand, not price, drives general insurance purchases: Survey - Number of credit cards dropped in India in 2011: Survey - Union Bank cuts BPLR by 0.5% - Indians prefer second-hand property: Study     At a Glance   - CBI to file cases against over 20 IT tribunal members - No delay in clearing investment by Aircel-Maxis in 2006 says government - Inflation rises to 7.2% in April; vegetable prices shoot up - Air India cancels 14 international flights as pilots strike enters 7th day - Nepal plane crash: 15 people, including 13 Indians, killed   Corporate Wrap-up   - L&T Q4 net profit up 14% to Rs1,920 crore - Moody's downgrades ICICI, HDFC Bank, Axis by a notch - BHEL wins Rs380 crore order for gas-based plant in Rajasthan - Yamaha to invest Rs1500 crore in Tamil Nadu for its 3rd plant - TRAI retains high spectrum price, concern on tariff rise remains - Moody's downgrades LIC to Baa2 due to exposure in ONGC, banks     FROM the ARCHIVES   Did New India Assurance overcharge lakhs of mediclaim policyholders? - I Is New India Assurance sitting on crores of extra premium collected due to a software glitch? It does not even know how many policyholders paid excess premium and is stonewalling all questions... ...................................................................................................................................................... Equity Mutual Funds: Lowest sales in the last three years in April 2012 After a month of marginal net inflow, equity mutual funds suffer an exodus of Rs615 crore in April...   To subscribe to this free newsletter log on to www.moneylife.in or email us at newsletter@moneylife.in To get FREE updates via sms click here.

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