Pensioners in Rajasthan duped into buying SBI Life Insurance Policies

Officials assured them it’s a better plan than fixed deposits and misrepresented their annual income in order to fulfil the eligibility criteria

Business Standard: Pensioners from Udaipur have registered complaints against SBI Life Insurance Company Limited for fraudulently selling them life insurance policies worth lakhs of rupees. They allege company’s officials assured them the policies work like a fixed deposit schemes but ensure higher returns, concealing payment of the premiums.

Bhopal Singh Ranawat, a retired forest guard from Gajpura village of Udaipur in his complaint letter to SBI Life in October this year narrates how the officials converted his entire savings to manage the SBI lIfeinsurance policy. Just a month after Ranawat’s retirement benefits worth Rs 800,000 were transferred to Udaipur’s treasury bank in August this year, the company officials approached and convinced him to invest in the ‘SBI life – Retire Smart’ plan – promising it would be more profitable than a fixed deposit (FD) scheme.

“They had repeatedly convinced me that I was investing in a better plan than a fixed deposit. Later, I found they had issued me an insurance policy worth Rs 200,000 without informing me the details,” his complaint letter, accessed by The Wire, reads. In an duplicitous manner, the officials also issued him three fixed deposits of the remaining Rs 600,000 – Rs 200,000 each – for a maturity period of one year, two years and three years respectively so that they could be used to arrange for the annual premiums..

Read Source: BS 

Ramdev's Patanjali takes on WhatsApp with 'Swadeshi Messaging app Kimbho'

Kimbho application is touted to be a competitor of the messaging app WhatsApp. The tagline of Kimbho is kept as "Ab Bharat Bolega"

 

Yoga guru Ramdev on Wednesday launched a new messaging application called Kimbho under his flagship company Patanjali.

Patanjali's spokesperson SK Tijarawala tweeted, "Now Bharat will speak. After launching sim cards, baba Ramdev has launched a new messaging application called Kimbho. Now Whats App will be given a competition. Our own #SwadeshiMessagingplatform. Download it directly from Google Play store."

Kimbho application is touted to be a competitor of the messaging app WhatsApp. The tagline of Kimbho is kept as "Ab Bharat Bolega".

Patanjali's entry into telecom sector

Patanjali on Sunday entered the telecom sector. Ramdev launched Swadeshi Samriddhi SIM cards, in alliance with Bharat Sanchar Nigam Limited (BSNL).

Initially, only the employees and office bearers of Patanjali will be able to avail the benefits of the SIM card.

After its full-fledged launch, people will get discount of 10 per cent on Patanjali products with this card. Just with the recharge of Rs 144, one would be able to make unlimited calls across the country, get 2 GB data pack and send 100 SMSs. Apart from this, people will also get health, accidental and life insurances. Speaking on the occasion, Ramdev said government-owned BSNL is a 'Swadeshi network' and the motive of both Patanjali and BSNL is the welfare of the country.

"There are five lakh counters of BSNL and from there people can soon get Patanjali swadeshi-samradhi card," Ramdev said.

Talking about the company's motive "prosperity for charity", he further said that in addition to attractive data and call package, the card also comes with the medical and life insurance covers of Rs 2.5 lakh and Rs 5 lakh, respectively.

However, the covers could only be availed in the case of road accident. Sunil Garg, BSNL Chief General Manager, who was also present here also praised the tie-up of Patanjali and BSNL.

"Patanjali's plan is BSNL's best plan. In Rs 144, one can make unlimited calls from any part of the country. We are giving 2 GB data pack, 100 SMSs. The members of the Patanjali has to just show their identity and there SIM will be activated soon after some paper work," he said....