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ROYAL COLLEGE OF ARTS SCIENCE & COMMERCE

THE ULTIMACY OF BANKING AND INSURANCE

PAGE-1
ISSUE 01
/B& I
Newslette
r Date: 31
st Aug

EDITORS NOTE

DEAR READERS

““SHRI SARASWATI NAMAHSTUBHYAM VARADE KAAMA RUUPINI WE ARE PREVILLEDGED TO ANNOUNCE THE IN-
AUGRAL ISSUE OF BANK-O-MANIA IN-HOUSE
TWAAM AHAM PRAATTHANE DEEVI VIDYADAANAM CHA DEHI ME!!!”” NEWS LETTER OF B&I DEPARTMENT OF OUR
ESTEEMED COLLEGE. WE ARE VENTURING INTO
MEANING: - I BOW TO GODESS SARASWATI WHO FULL-FILLS THE WISHES OF THE
A NEW AREA & WITHOUT THE CO-PERATION OF
DEVOTEES . I PRAY YOU TO ENLIGHTEN ME WITH KNOWLEDGE. ALL OUR GRACEFUL READERS IT CANNOT BE-
COME A SUCCESS .
INSURERS READY TO TACKLE SURGE IN SWINE FLU CLAIMS.
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 RANKERS OF T.Y.B&I AT A GLANCE(2008-09)
to ensure pre-authorization of the cashless facility with all our network hospitals.”
RIZWAN RAJWANI FIRST CLASS (73.28%)
In the aftermath of the swine flu outbreak ,the health insurance companies have seen a surge in enquires from policyhold-
ers. People are anxious to know whether the existing policies cover the disease that has claimed more than 24 lives so far & NAZIA LALANI FIRST CLASS (73.14%)
has affected more than 1000 people all over India so far.
PRATIK DAMANI FIRST CLASS (72%)
But insurance company say that hospitalization charges arising out of any pandemic or epidemic are covered under medi-
claim 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 UPCOMING EVENTS :
covered. As swine flu is an infectious disease, it fall in the critical illness category of any insurance policy.
PARADIGM BY T.Y.B. & I : -
“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 TO BE CONDUCTED ON 1ST SEPT
insurance policy which would grant the cover “, said Rahul Agrawal , CEO, Optima insurance brokers .
2009.
However insurers have not yet seen any significant rise in swine flu claims.

Naushil Maknojia ( T.Y.B&I)

ISSUE 01/B&I PAGE-2


MEASURES AGAINST SWINE FLU INDIAN BANKS BET BIG ON REALTY .

Despite the global financial meltdown owing to overexposure to the housing


( DO’S & DON’TS) 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 sec-
DO’S
tor at end of march 2009 was FINANCE TO HOUSING SECTOR (IN CRORES)
Rs 91,500 cr as against Rs
1. Wash hands properly using a alcohol based sani- BANK 2008 2009 GROWTH
63,000 cr in the year
tizer on a regular basis. 2008.thus there is an in-
(%)

crease of 45% in 2009. AXIS BANK 3514 4466 27


2. Cover the nose/mouth with a handkerchief/ tissue
ICICI BANK 5712 4904 (-)14
paper when coughing or sneezing.
SBI 6062 10467 73

3. Stay away at least 6 feet distance from a person -Vijay Chandran PUNJAB 2255 11030 389

affected from flu. (T.Y.B & I) NATIONAL BANK

SBI LIFE HAS MAX MILLION $ AGENTS.


4. Get plenty of sleep.
Insurance agents are under some rare global spotlight. This year’s Million Dollar
5. Drink plenty of water & eat nutritious food. 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.
6. Avoid crowded places. 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
7. If you suffer from symptoms ,seek medical advice. 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
DON’T’S December 2008. Thus to qualify for this he/she has to earn commission & pre-
mium which is thrice & six times the MRDT amount respectively.
1. Shake hands or hug in greeting.
TOP INS COMPANIES AS ON 01-08-09

2. Avoid spitting in public place. RANK COMPANY

3. don't take medicine without consulting a physician. 1 SBI LIFE INS CO.

2 NEW YORK LIFE.

3 SAMSUNG LIFE INS.

ISSUE 01/B&I PAGE-3


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 in-
Beginning the half done. sured for $200,000 & we want the money.
Commit yourself to a dreams.
“I am sorry madam, but it doesn't work that way . We have to determine the
Dedicate yourself to your commitment. value of your farm & get you a new one that is worth about the same “ the
Enrich yourself from experience. agent said.

Focus on your goal. Annie paused & replied ,”well , in that case , I’d like to cancel the policy on
Give up your fear of failure. my husband.”

Hold on to all possibility. 2. A man wanted to buy some ins. For his car .so he went to the ins. Co. &
Invite constructive criticism. asked for the list of coverage

Junk the negative thoughts. First, there was anti-fire , which has a $200 premium.
Knock out all discourage-
ments. Then there was anti-theft , which had a premium of $150

Lead towards fulfillment. At end he noticed that there was an anti fire & anti theft policy for only $50 he asked the receptionist ,”why in the
Manage your circumstances 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”!!!!! -Sophia D’souza
Outgrow Adversities.
S.Y.B & I
Preserve, for tough times never last but
tough people do.
MATHS FUN.
Quit complaining.
Recognize yourself with situations and Do you wanna know your BIRTH DATE mathematically.
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.
Unlock your hidden abilities. E.g.:- 5 x 2= 10
Multiply the above mentioned answer by 10
Visualizes success E.g.:- 10x 10= 100
Add 73 to the above mentioned answer
Work has no substitute. E.g.:- 100+73
X- ray your deepest motives. Multiply the above mentioned answer by 5
E.g.:- 173 x 5 = 865
Yield your life and problems to God. Add your birth date to the above mentioned answer
E.g.:- 865+1= 866
Zeal will see you through! Deduct 365 from the above mentioned answer.
E.g.:- 866-365=501
-FATIMA ZIADI
The last 2 numbers are your birth date and the beginning 1 or 2 numbers is the month of your birth date.
S.Y.B.& I Enjoy this fun by doing the birth date calculation of your friends also.

ISSUE 01/B&I PAGE-4


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 market. There is still the “I”

5. Performance evaluation AND that (I) is the root cause of all the problems

criteria. Isn’t it ? ?

6. Notice period. Now you know why HABIT is so hard to break CCCC. Its destiny
is in its nameCC..??-
7. Shifting your provident fund balance &
super annuation. Ananya Uchil

8. Form 16 & tax issues. (S.Y.B&I)

9. Employee stock ownership plans


(ESOPs).
OUR GROUP OF EDITORS
10. insurance.
CHIEF EDITOR: Darshnil Patel (T.Y.B&I)
-Arpana pal

(S.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- bankomania@gmail.com PAGE-5

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