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| Our Review of Insider Trading Regulations and Orders; Weekly Counselling Coop Society Matters Resumes |
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| Dear Moneylifers, |
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| Many of you, our members and readers perhaps have strong views on how insider trading or having advance information on corporate actions gives an unfair advantage to a small set of people. While we know that insider trading is notoriously difficult to prove, we thought it would be useful to study how the law is evolving through orders passed by various judicial fora. |
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 The study found that the law is evolving in a haphazard manner due to contradictory judgements at all levels and desperately needs another overhaul. Interested readers can access the entire report on our website here and you can also read this article which covers the findings of our report.
Our research study , by two law school interns, benefitted enormously from the knowledge and guidance of Advocate Ravichandra Hegde, securities law expert, co-founder and partner of Parinam Law Associates and his colleagues. |
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| Our research study , by two law school interns, benefitted enormously from the knowledge and guidance of Advocate Ravichandra Hegde, securities law expert, co-founder and partner of Parinam Law Associates and his colleagues. |
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| Adv Shirish Shanbagh's Counselling Resumes |
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| We are happy to announce that we have resumed our in-person counselling after a forced suspension of over two years due to the Covid pandemic to an enthusiastic response. Advocate Shirish Shanbhag, an expert on cooperative housing societies, redevelopment etc, is now available to provide counselling on a weekly basis (every Thursday) between 3:00pm and 6:00pm, at our Knowledge Centre in Dadar, Mumbai. The first session was a combination of physical counselling as well as online. |
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| Please note, next week's counselling session (Thurs 7th July) has been cancelled, but we will resume from 14th July onwards. |
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| We intend to restart other sessions as well, based on your response and feedback. Until then, the free counselling continues to be available through Zoom calls and our Free helplines. Do send us your suggestions at [email protected]. |
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| Exploring Public Liability Insurance |
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| Public liability insurance (PLI) is not a new concept in India and yet hardly any public places have it. Consequently, if you suffer an injury while in a restaurant, a bank, a public event or a cinema, you are left to your own devices. |
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| Most commercial establishments are not even mandated to keep a basic first aid kit or to call an ambulance to get an injured customer to hospital. While they do have responsibility for customers, they are also aware that making a legal claim is impossible in India, because of the slow and expensive legal system. Those with a personal accident policy or medical insurance are fortunate, others have a hole burned into their pocket. We have highlighted a couple of cases recently (Read: Perils of Visiting a Bank - When Accidents on Branch Premises Leave Customers with Huge Costs and No Compensation) about injuries suffered by customers on bank premises and our effort to help them. We now want to take this further. |
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| Moneylife Foundation believes that making public liability insurance mandatory would offer better protection to customers, without imposing a huge cost burden on commercial establishments. It exists across the world and many multinational companies operating in India have public liability insurance for fear of being sued abroad. |
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| India needs to mandate a workable PLI, which is simple, cost-effective and easy to claim. If you have thoughts, suggestions or expertise in this regard, we would love to hear from you. It is a win-win for business, insurers as well as customers. We look forward to your feedback and experiences at [email protected] |
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| Filing Complaints The Right Way |
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| Over the past decade of helping people with grievance redress, we have noticed that a majority of grievance letters that are ignored are badly written. They are angry and abusive (maybe with justification), addressed or copied to dozens of people, unclear about the issue as well as the desired outcome. Some send out long trail mails asking us to wade through them to figure out their problem; others dump a dozen heavy attachments but won't write a two paragraph summary of the problem. In response to a request from a reader, we have put together a 'how to' article on how to improve your chances of quick and effective redress. Tell us if you find this useful: https://www.mlfoundation.in/guidesandtemplates/how-to-raise-a-consumer-complaint-protips-and-guidelines-to-make-effective-complaints-that-get-heard/170.html. |
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| In fact, we have a whole series of 'how to' articles on various issues which you can access here: https://www.moneylife.in/howto.html Do share this resource with your friends and colleagues, and also encourage them to become members of Moneylife Foundation! |
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| Expanding Financial Literacy Videos to other languages |
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| We have made our financial literacy messages easier to understand with special story-telling videos. More importantly, we have taken forward your suggestions and now have them in Marathi, Hindi, Gujarati, Tamil and Punjabi. Please do help us by making it a point to share them with everyone who can benefit. |
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| We are happy to send them to you in the language of your choice on WhatsApp and Telegram if you share your numbers at Moneylife Foundation's WhatsApp number: 7045156415. You can also become a member by sending us a message at that number and get access to all our videos, announcements and events. |
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| Our video, 'Truth About Gold Loans' has been dubbed in Marathi, Gujarati, Punjabi and Tamil. |
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| The one on credit cards, avoiding online and banking frauds and understanding whether bank relationship managers can be trusted are Hindi at the moment and other languages will happen soon. |
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| Do send us your feedback on these and if you have benefitted from our work, please do not forget to pass it forward by introducing our videos, free helplines and membership benefit to others. Do register for a free membership and also encourage your friends and family to join as well. |
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| File your RTI Applications with Expert Guidance |
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| RTI Advice App पर विस्तृत गाइड से विशिष्ट उपयोग के मामलों के लिए आरटीआई आवेदन दाखिल करने का तरीका जानें। हिंदी और मराठी भाषाओं में उपलब्ध। |
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 Many of you are already aware of our 'RTI Advice' app, which was launched for both android and iOS devices a year ago. The app helps you get expert advice on your RTI queries in any language or format (text, audio or video) and access to over 900 queries that are already asked and answered by our 14 highly regarded RTI experts. |
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| Don't worry about how to navigate the app—we now have user guides for you in English, Hindi and Marathi! Download the app or access the guides from our website here. |
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| Moneylife TV & Helplines |
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| Catch up with our financial literacy work through – Moneylife TV and Moneylife News Bites. |
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| Get guidance and counselling through our Legal Helpline or Credit Helpline. |
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| Also, Moneylife Foundation is now on Telegram and Instagram, so do follow us on these channels to stay updated on our activities and events. |
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| As always, we look forward to your active feedback on issues that you would like us to discuss, and we will do our best to make it happen. Please do write to us at [email protected] |
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| Best regards, |
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| Sucheta Dalal |
| Founder-Trustee, Moneylife Foundation |
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| Trustees: TS Krishnamurthy, Walter Vieira, Sucheta Dalal, Debashis Basu. | | | | Moneylife Foundation is registered with the Charity Commissioner of Mumbai, is an Affiliate member of OECD's International Network on Financial Education, is a Supporter Member of Consumers International, Development Partner of Advocates for International Development (A4ID), and is a winner of the 10th MR Pai Memorial Award. | | |  | | | | Donations are eligible for tax benefits under Sec 80G of the Income Tax 1961 (50% tax exemption) and MLF is registered under the Foreign Contribution (Regulation) Act, 2010. 80(G) Reg No: DIT(E)/MC/80G/685/2010-11 dated 7.2.11 effective 8.+9.2010 | FCRA Registration No: 08378138  | | | |
