Bank-o-mania

ROYAL COLLEGE OF ARTS SCIENCE & COMMERCE

THE ULTIMACY OF BANKING AND INSURANCE

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ISSUE 01 /B&

I Newslette r Date: 31 st Aug

EDITORS NOTE DEAR READERS

““SHRI SARASWATI NAMAHSTUBHYAM VARADE KAAMA RUUPINI TWAAM AHAM PRAATTHANE DEEVI VIDYADAANAM CHA DEHI ME!!!”” MEANING: - I BOW TO GODESS SARASWATI WHO FULL-FILLS THE WISHES OF THE DEVOTEES . I PRAY YOU TO ENLIGHTEN ME WITH KNOWLEDGE.

INSURERS READY TO TACKLE SURGE IN SWINE FLU CLAIMS.

WE ARE PREVILLEDGED TO ANNOUNCE THE INAUGRAL ISSUE OF BANK-O-MANIA IN-HOUSE NEWS LETTER OF B&I DEPARTMENT OF OUR ESTEEMED COLLEGE. WE ARE VENTURING INTO A NEW AREA & WITHOUT THE CO-PERATION OF ALL OUR GRACEFUL READERS IT CANNOT BECOME A SUCCESS .

In the aftermath of swine flu outbreak, insurers are gearing up to tackle the surge in claims related to the disease. Bajaj Cuddapah, vice-president, property & engineering ,Bharti Axa general insurance company, said ,”we Are geared up for likely claims, now that the government has roped in private hospitals to treat people with swine flu, & have all the steps to ensure pre-authorization of the cashless facility with all our network hospitals.” In the aftermath of the swine flu outbreak ,the health insurance companies have seen a surge in enquires from policyholders. People are anxious to know whether the existing policies cover the disease that has claimed more than 24 lives so far & has affected more than 1000 people all over India so far.

RANKERS OF T.Y.B&I AT A GLANCE(2008-09) RIZWAN RAJWANI

FIRST CLASS (73.28%)

NAZIA LALANI

FIRST CLASS (73.14%)

PRATIK DAMANI

FIRST CLASS (72%)

But insurance company say that hospitalization charges arising out of any pandemic or epidemic are covered under mediclaim policies. Like in any other health insurance policy, illness contracted in the first 30 days of taking a fresh policy is not covered. After 30 days, any hospitalization expenses other than pre-existing illness or those specifically excluded under the policy are covered. As swine flu is an infectious disease, it fall in the critical illness category of any insurance policy. “Health insurance covers are broad policy covers & no mediclaim policy has any exclusion of an epidemic or an pandemic disease. Hence all would be covered for swine flu . Which is a pandemic disease at present. There is no problem of a travel insurance policy which would grant the cover “, said Rahul Agrawal , CEO, Optima insurance brokers .

UPCOMING EVENTS : PARADIGM BY T.Y.B. & I : TO BE CONDUCTED ON 1ST SEPT 2009.

However insurers have not yet seen any significant rise in swine flu claims. Naushil Maknojia ( T.Y.B&I)

ISSUE 01/B&I

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MEASURES AGAINST SWINE FLU ( DO’S & DON’TS) DO’S 1. Wash hands properly using a alcohol based sanitizer on a regular basis. 2. Cover the nose/mouth with a handkerchief/ tissue

INDIAN BANKS BET BIG ON REALTY .

Despite the global financial meltdown owing to overexposure to the housing sector ,Indian banks were quite bullish in there investment to the real estate. The total outstanding credit to real estate by both public sector & private sector at end of march 2009 was FINANCE TO HOUSING SECTOR (IN CRORES) Rs 91,500 cr as against Rs BANK 2008 2009 GROWTH 63,000 cr in the year (%) 2008.thus there is an inAXIS BANK 3514 4466 27 crease of 45% in 2009. ICICI BANK

5712

4904

(-)14

SBI

6062

10467

73

PUNJAB

2255

11030

389

paper when coughing or sneezing. 3. Stay away at least 6 feet distance from a person affected from flu. 4. Get plenty of sleep. 5. Drink plenty of water & eat nutritious food. 6. Avoid crowded places. 7. If you suffer from symptoms ,seek medical advice. DON’T’S 1. Shake hands or hug in greeting. 2. Avoid spitting in public place.

3. don't take medicine without consulting a physician.

ISSUE 01/B&I

-Vijay Chandran (T.Y.B & I)

NATIONAL BANK

SBI LIFE HAS MAX MILLION $ AGENTS.

Insurance agents are under some rare global spotlight. This year’s Million Dollar Round Table (MDRT) ,a global congregation of top insurance agents, will see SBI taking the honors for having the maximum number of best sales professionals. The insurance unit has 2677 MDRT members, better than global biggies like new York life, Samsung life ins, northwestern mutual & prudential life ins. To be a MDRT qualifier in 2009 an insurance agent has to earn a 1st year commission of Rs7,59,100 or a first year premium income of Rs30,36,400 in the calendar Jan to December 2008. Thus to qualify for this he/she has to earn commission & premium which is thrice & six times the MRDT amount respectively. TOP INS COMPANIES AS ON 01-08-09 RANK

COMPANY

1

SBI LIFE INS CO.

2

NEW YORK LIFE.

3

SAMSUNG LIFE INS.

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ALPHABETS OF ACTION

FUNNY JOKES

Attempt at realizing your dreams.

1. Jeff’s farm was destroyed by a tornado his wife Annie called their insurance agent & said ,” the farm was insured for $200,000 & we want the money.

Beginning the half done. Commit yourself to a dreams.

“I am sorry madam, but it doesn't work that way . We have to determine the value of your farm & get you a new one that is worth about the same “ the agent said.

Dedicate yourself to your commitment. Enrich yourself from experience. Focus on your goal.

Annie paused & replied ,”well , in that case , I’d like to cancel the policy on my husband.”

Give up your fear of failure. Hold on to all possibility. Invite constructive criticism.

2. A man wanted to buy some ins. For his car .so he went to the ins. Co. & asked for the list of coverage

Junk the negative thoughts.

First, there was anti-fire , which has a $200 premium.

Knock out all discouragements.

Then there was anti-theft , which had a

Lead towards fulfillment.

premium of $150

Manage your circumstances

At end he noticed that there was an anti fire & anti theft policy for only $50 he asked the receptionist ,”why in the world do you price the policy for 2 problems less than that of 1 problem?

Negotiate through situations.

The receptionist replied “simple sir because nobody steals a burnt car”!!!!!

Outgrow Adversities.

-Sophia D’souza S.Y.B & I

Preserve, for tough times never last but tough people do.

MATHS FUN.

Quit complaining.

Do you wanna know your BIRTH DATE mathematically.

Recognize yourself with situations and times.

Ok, then:-

Share your success.

Suppose your birth date is 1st May.

Test your endurance. Take the month of your birth date and multiply it by 2. E.g.:- 5 x 2= 10 Multiply the above mentioned answer by 10 E.g.:- 10x 10= 100 Add 73 to the above mentioned answer E.g.:- 100+73 Multiply the above mentioned answer by 5 E.g.:- 173 x 5 = 865 Add your birth date to the above mentioned answer E.g.:- 865+1= 866 Deduct 365 from the above mentioned answer. E.g.:- 866-365=501

Unlock your hidden abilities. Visualizes success Work has no substitute. X- ray your deepest motives. Yield your life and problems to God. Zeal will see you through!

-FATIMA ZIADI S.Y.B.& I ISSUE 01/B&I

The last 2 numbers are your birth date and the beginning 1 or 2 numbers is the month of your birth date. Enjoy this fun by doing the birth date calculation of your friends also.

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DIAMONDS ARE HARD TO FIND OUT NOT HARD TO BREAK . Switching jobs ? 10 personal

What is the hardest thing to break then?

finance tips

The answer is : HABIT. 1.Higher salary shouldn't be the only IF you break the H, you still have ABIT. reason. If you break the A, you still have BIT. 2. Timing problems should be avoided . If you break the B, you still have IT.! 3. Negotiating your cost to the company (salary).

HEY, after you break the T in IT,

4. Pricing yourself out of the

There is still the “I”

market.

AND that (I) is the root cause of all the problems

5. Performance evaluation

Isn’t it ? ?

criteria.

Now you know why HABIT is so hard to break CCCC. Its destiny is in its nameCC..??-

6. Notice period. 7. Shifting your provident fund balance & super annuation.

Ananya Uchil (S.Y.B&I)

8. Form 16 & tax issues. 9. Employee stock ownership plans (ESOPs).

OUR GROUP OF EDITORS

10. insurance. -Arpana pal (S.Y.B&I)

CHIEF EDITOR:

Darshnil Patel (T.Y.B&I)

EDITING TEAM:

Nidal Farooqui( T.Y.B & I) Sneha .B (T.Y.B & I) , Pooja Modi (S.Y.B&I), Sanjay Rawat (S.Y.B&I) , Sakina Chevelwalla (S.Y.B&I)

ISSUE 01/B&I

For any suggestions contact- [email protected]

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