There are thousands of similar customers who have been looted by these insurance companies. I am sure IRDA gets hundreds of such complaints every day. Why is the regulator not taking any action against such fraud in the country? I am a well-educated MBA from IIM-Ahmedabad, having been taught by Mr Rangarajan, Dr KP Krishnan and such seniors…”
Read - Moneylife
1 comment:
M G WARRIER 38 minutes ago
The article puts together the concerns and anxieties of millions of small savers whose savings get ‘looted’ by government and organized financial sector legally. This morning in another article I was reading a quote from Kaushik Basu which says: “The rationale for corruption is economic, the best way to handle it is to legalize it”. Perhaps, this advice from the one time Economic Advisor to the Prime Minister has been taken literally seriously by powers that be. How else one can interpret the losses of the kind suffered by savers mentioned here or introduction of a product called New Pension Scheme by GOI even before the relevant legal backing is in place or the appointment of fund managers under NPS without reasonable compensation for their work (they will have to make up their losses elsewhere!)M G Warrier
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