Make your home eco-friendly

Make your home eco-friendly

With the rising temperatures, global warming is making its presence felt, making it the right time to develop an eco conscience.

Did you know that small modifications at home can make your living space eco-friendly? BT helps you go green with these simple tips...

Switch to CFL lights

They may not be as soothing as incandescent lights, but CFL bulbs save a lot of energy. For those who complain about them being too bright, there are several options available in the market these days so that you get the effect you desire. What's more, CFL bulbs are light on your pocket.

Plant a herb garden

Many of us like having potted plants at home, but instead of growing decorational flowers, plant a herb garden. They don't require a lot of effort since they are easy to grow. Plus, it's great to know that your herbs are pesticide-free and that what you are eating is healthy .

Make a compost bin

Composting is a great way to turn household trash into nutrient-rich supplement for plants. Take a bin (such as an old bucket) and make a couple of holes on the side and bottom. Layer this with broken bricks and sprinkle some water. Now place bagasse (the residue of sugarcane once the juice is squeezed out) and place it on the bricks. Sprinkle more water. Add a fistful of compost and the pit is ready.

Stop using plastic bags

The reason you have to pay for plastic bags at stores is to discourage its use.

Keep a reusable bag in your handbag or car so that it comes in handy whenever you go shopping -be it at the grocery store or the mall.

Use cloth instead of paper to clean

Find yourself always reaching out for kitchen towels or tissues to clean up a mess? Break the habit and use cloth instead. And you don't have to go out and buy fancy towels either; simply recycle and make rags out of old T shirts or towels.

Use low flow shower heads

Replace your existing shower heads with low flow ones as this can save around a 100 litres of water a day (depending on use). Also ensure that your water heater is insulated well to save energy, or replace it with a solar heater.

Switch off all lights at home

Most Indian families leave at least one light on at night as people believe that a house must not be draped in darkness.

But this is a criminal waste of electricity and is really not required.

Plug leaks

Have a leaky faucet? Get it fixed! You may think that the single drop of water that drips every few seconds isn't some thing that you must bother about, but that single drop accumulates into sever al litres a day . Pay a plumber a nominal . fee to fix a leak and to save water and see a marked difference in your water bill.

Live an unplugged life

Electric appliances like TVs, computers and iPod docks continue to consume large amounts of energy even when they are in standby mode. So ensure that you switch them off completely and even take the socket out of the plug point.

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The 7 Dangerous Acts after meal

1. Don't smoke: Experiment from experts proves that smoking a cigarette after meal is comparable to smoking 10 cigarettes (chances of cancer is higher).
2. Don't eat fruits immediately: When you eat your fruits with meals, the fruit is stuck in the stomach along with the contents of the meals and cannot reach the intestines in time. Lying there they get spoilt and spoil the remaining food in the stomach too. Thus it is recommended that you eat a fruit at least one hour after eating a meal or before your meal and preferably in the morning with empty stomach. It is in the morning that the body can best use the nutrients in the fruit and get enough energy to start the day.
3. Don't drink tea: Because tea leaves contain a high content of acid. This substance will cause the Protein content in the food we consume to be hardened thus difficult to digest.It is preferable to drink tea an hour after meals.
4. Don't loosen your belt: Fiction, not particularly bad for you! We generally have an attitude that a good meal is that which forces us to loosen our belts. However, loosening the belt is bad, not because it causes the intestines to twist or block but because it means that you have over eaten to a level that you are uncomfortable. Loosening of the belt may also cause you to feel comfortable once again which means you may continue overeating. So eat only to the extent that you can be comfortable without loosening your belt!
   
   
   
   
5. Don't bathe: Bathing after meal will cause the increase of blood flow to the hands, legs & body thus the amount of blood around the stomach will therefore decrease. This will weaken the digestive system in our stomach.
6. Don't walk about: Fact, it is bad for you! Walking directly after meals is a bad idea, it can result to acid reflux and indigestion. However, walking about half an hour after meals is known to be good for you. Researchers in the Department of Exercise Science at the University of South Carolina, have found that walking after exercise is a good way to burn energy. The point to note is when to walk, you should ideally walk for about 10 minutes and only 20-30 minutes after meal to prevent acid reflux and stomach upsets.
7. Don't sleep immediately: The food we intake will not be able to digest properly. Thus will lead to gastric & infection in our intestine. Courtesy: Conscious Life News's

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Saving versus investing: Tradeoff on risk, returns

As investors we often use the terms savings and investments interchangeably — that is to use one's extra money for some gains. However, there is a fine line which differentiates savings from investments. Savings means when you put your money in relatively safer financial products that give you the freedom to access your money whenever you want, in some cases that may come at a small cost to you like penal interest when you break a bank fixed deposit (FD). A savings account in a bank, an FD, a recurring deposit, money market instruments, etc. are examples of savings. Some of these, to some limit, are even insured by a government agency, which gives these some built in safety net.

Another way to look at this is the returns you get from such safer financial products barely meet the rate of inflation. And if you are one of those investors who have to pay income tax on what you earn, on a post-tax basis your returns become even less. So in effect, at times, when you are just a saver, you are worse off on real terms.

So how does this work? Suppose your current monthly expense on food and other essentials is Rs 5,000. The annual rate of inflation is 10%. So after a year from now you need to spend Rs 5,500 on food and other essentials of exactly the same quantity and quality so that you maintain the same standard of life. Now when that Rs 5,000 is kept in a bank FD that pays you 10%, at the end of the year you get Rs 5,500, that includes Rs 500 as your FD interest income. So far so good. But now suppose you are in the 10% rate of income tax bracket. In this case you need to pay a tax of Rs 50 on the Rs 500 interest income. So at the net basis, even though you get an FD rate of l interest that is equal to the rate of inflation, at the net ba sis you are left with Rs 5,450. Compared to this your month y expenses have gone up to Rs 5,500. So there is a gap of Rs 50 here. Now to keep the same standard of living, you would need to spend an extra Rs 50.

The alternative is to cut down on your quality or quantity of food and other essentials that you buy so that your monthly expenses are reduced to Rs 5,450. In this case, either you spend extra Rs 50 from your other savings or capital, or you cut down on your food and other essentials, you are worse off in real terms.

Such situations do not usually pinch the average people when he/she is working unless the rate of inflation is very high. But the same could be a weighing factor for retired people who are living on their life's savings. Financial planners and advisers say people should try to invest, rather than save. This means when you invest, you take some risks, but you also stand a chance to beat the rate of inflation, and also taxes at the net level so that your real income does not go down.

Financial planners and advisers, however, also warn that when you invest, since you have a greater chance of earning more than when you save, you also carry higher risks. So the ideal situation should be to find out your risk taking ability, and then invest to beat the inflation. Unlike savings, when you invest, you put your money in mutual funds, stocks and other financial products which have higher risks compared to savings banks, FDs, etc. While investing, there is a trade-off between taking higher risks and the chance of getting higher returns.

The two other articles on this page go into greater detail in explaining the difference between savings and investments. Courtesy:TOI

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Amway MD: ARRESTED!

It has shattered image of Amway, in the eyes of all those consumers who believed in its trustworthiness for long. William S Pinckney, Managing Director and chief executive officer of Amway India, the direct selling company for various consumer products, arrested by the Andhra Pradesh police at Gurgaon. The police said charges had been filed against Pinckney under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. This was the second time Pinckney has been arrested in this country. The Kerala police arrested him last year on similar charges.

Amway India stated it was “aggrieved and shocked at the sudden and unwarranted act of detention”. “The case against which the action has been taken was filed in December 2013. The company had no prior information on the same. The allegations mentioned in the FIR (First Information Report) are frivolous and gives a misleading impression about our business,” it stated on Tuesday.

According to Amway, due to the lack of a legal framework for the direct selling sector, any case filed is being misinterpreted and booked under the 1978 law, which is meant to regulate financial schemes. The direct selling industry had been repeatedly seeking an amendment to the above law.

The Federation of Indian Chambers of Commerce and Industry (Ficci) and the Indian Direct Selling Association (IDSA) have condemned the arrest.

“This move has been initiated by a consumer complaint and could have been easily addressed, since there was no criminality involved,” Ficci general secretary, Didar Singh, stated. (Courtesy: Business Standard)

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Khosla ka Ghosla: Still reflecting the plight of today’s consumers

Way back in 2006 with the release of ‘Khosla ka Ghosla’, Dibakar Banerjee touched the issue of ‘Real Estate fraud’ which was never screened like this before. Written by Jaideep Sahni of ‘Chak de’ fame the movie was a big success and has transformed into a cult cinema.

The movie blatantly describes the suffering of today’s middle class man who is caught in the web of real estate fraud. It also elaborates in detail how helpless we are as consumers who are cheated by big corporate firms in our day to day lives, and we can hardly do anything to get justice on time.

Some of the scenes in the movie are so funny and real that you will instantly connect with them. Yes, it is the connectivity in the film with the common man that uplifts the plot of the film.

Right from an old aged middle class man’s (played by Anupam Kher) dream of owning a house, his interaction with family and friends, meeting with fraud real estate agents and the mafia is amazingly captured in detail. Moreover, the ‘Gandhian’ effort of Mr. Khosla to get back his property is most touching.

The movie has some of the best performances from Boman Irani( Real Estate Mafia), Praveen Dabas( Khosla’s son) and Ranveer Shourey ( who plays a lunatic elder son of Mr. Khosla).

Every time, we see this movie it teaches a lesson for us to become a smart, well informed consumer rather than getting swayed away and investing our hard earned money in fulfilling our property dreams. Though, we must believe that a wave of change is being witnessed in the real estate sector.

Recently the Allahabad High Court ordered to demolish Super tech’s two 40-storey towers in Noida for violation of building norms; this has opened a window of opportunity for helpless buyers. Similarly, the law took its due course in the Sahara scam where Subrata Roy had played with the hard money of around 3 crore consumers.

In addition to this, recent Land Acquisition Rehabilitation and Resettlement Act (LARR Act), and Real Estate Regulation Bill 2013 have played key roles for consumer rights in real estate sector.

If the law takes it course and judgement like these happen for the betterment of consumers along with proper regularisation, than poor Khosla’s dream of owning a house would come up without the struggle.

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‘Pesticide Menace’: Now central government at the rescue

The report submitted by Consumer Voice on ‘Pesticides in Vegetables’ way back in 2010 is finally spelling success. Authorities have initiated reform measures, i.e., the way situation needs to be dealt from the grass root level. With the intervention of the central government the problem can be tackled in a more smooth and refined manner. 

In a recent development the Delhi government told the Delhi High Court that tackling the problem of pesticide residues in vegetables and fruits sold across the Capital will need Centre’s intervention.

Several reports have pointed out a high content of pesticide residues in vegetables and fruits sold in Delhi that can cause various diseases, including cancer.

Amicus curiae Sanjay Jain submitted before a bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw that the problem cannot be addressed by Delhi government alone.

“Delhi is a consumer market. The problem starts at the point of cultivation when various pesticides are added. Remedial measures have to start from the point the cultivation begins,” Jain said.

The high court, however, declined to accept Jain’s plea to include all the state authorities as a party in the case. “If some policy has to be made and implemented, the Union government is going to the implementing agency,” it said.

The agriculture ministry also informed the court that an extensive media campaign has been initiated to educate the people regarding safe use of pesticides in fruits and vegetables.

The ministry, in its affidavit, said the “Ministry of Agriculture has decided to extend all assistance to the state government of NCT of Delhi in setting up requisite infrastructure for enhancing its capacity to carry out sample testing of pesticides in fruits and vegetables”.

The Delhi government, represented by counsel Zubeda Begum, also informed the court that it was adhering to periodic monthly sample tests of fruits and vegetables sold in the city. The HC had acted suo motu on a report by NGO Consumer Voice, which in 2010 found that 35 varieties of vegetables and fruits, picked from Delhi markets and tested for pesticide content, had toxins beyond the permissible limits.

The report claimed that pesticides such as chlordane, endrin, heptachlor, ethyl and parathion were being used in growing number of vegetables. These pesticides can cause serious neurological problems, kidney damage, skin diseases, cancer and other diseases. Source: HT 

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Stable Rupee leads to flat travel insurance rates

People travelling offshore to benefit from a stable rupee, as there will be no hike in travel insurance rates.

As the rupee gets more stable, chances have increased that insurance companies are unlikely to increase their rates for insurance premiums. The claims for outbound travel insurance are paid out by general insurers in foreign currency while the insurance companies collect premium in rupees.

According to experts, insurers have been facing a higher loss ratio in the travel insurance portfolio as most of them had priced their policies when the rupee was around 55 to a dollar. The travel insurance segment is a very small portfolio for general insurers at 0.1 percent of the total premium collected by the industry.

Although, the travel insurance segment is growing industry, most travellers opt for Schengen area comprising of 26 European countries where having a cover is mandatory. Whereas, tourists believe that when travelling to South East Asia and West Asia one does not need a travel insurance.

For example, a 30-year-old traveller on a 10-day excursion to Europe would pay a premium of about R900 for a $100,000 cover for emergency medical expenses, accidental death, loss of baggage, etc. The same person would pay 30-40 percent more for a trip to the US and Canada. 
Courtesy: thehindubusinessline.com

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RBI: Banks should not charge for inoperative savings accounts without a minimum balance

In a recent development the RBI has asked banks not to implement penalties on consumers, who don’t have a minimum balance in their inoperative account.

The measure has come as a big relief for consumers as they were charged penalties by banks for their dormant bank accounts.

“It is advised that henceforth banks are not permitted to levy penal charges for non-maintenance of minimum balances in any inoperative account,” RBI said in a notification. Several banks, including the State Bank of India, do not levy any charge if the minimum balance is not maintained in an inoperative savings account.

In the first bi-monthly monetary policy statement for 2014-15 released last month, the RBI had said banks should also not take undue advantage of customer difficulty or inattention.

“Instead of levying penal charges for non maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to basic savings bank deposit accounts and restore the services when the balances improve to the minimum required level,” the report said.

Courtesy: PTI 

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Highest ever consumer confidence, says Nielsen India survey

In a recent online survey conducted by Nielsen on consumers it has been established that there has been an epic growth in consumer confidence since fourth quarter of 2012.

Despite the rising inflation and political delirium, the Indian consumers tend to remain positive regarding their purchasing or buying choices.

Industry experts believe that after a period of political uncertainty, the new government will bring in more stability in the market dynamics.

Piyush Mathur, President, Nielsen India says, “Consumers are reconciled to the negative economic conditions and despite the challenge of inflation, are hoping for a better year. ”   

Around 30,000 people across 60 countries responded to the survey. The key findings of the survey are as follows:

·   Consumer confidence increased in 60 percent of the markets measured by Nielsen, up from 43 per cent in the previous quarter (Q4 of 2013).

·      Around 74 percent of respondents in India are optimistic about job prospects over the next 12 months and the sentiment is up by 4 percentage points from the last quarter.

·     Around 54 percent of online respondents polled indicated that this is a good time to buy things they want and need.

·        The intention of online respondents investing spare cash in savings is up by six percentage points to 68 percent from last quarter.

·        Nearly half of those polled (49 percent) are looking to invest in new technology products and buy new clothes

·        More than 32 percent indicated they would invest in a retirement fund.

·        About 36 percent intend to invest in the stock market and in mutual funds.

In addition to these trends the consumer market will also become more positive if a stable government is elected to power. This scenario will lead to a rise in investment, better employment opportunities and more importantly an affirmative sentiment among the consumers.  

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Shop fined Rs 50 lakh for charging Rs 75 extra on drink

Charging a customer double for an energy drink has attracted a strong censure from the National Consumer Disputes Redressal Commission and a fine of Rs50 lakh for the vendor- Snack Bar, a unit of Saptagiri Restaurant. 

That October morning in 2009, a vendor at Chennai airport decided to make an extra Rs 75. Five years later, he may be poorer by Rs 50 lakh.

Charging a customer double for an energy drink has attracted a strong censure from the National Consumer Disputes Redressal Commission (NCDRC) and a fine of Rs50 lakh for the vendor- Snack Bar, a unit of Saptagiri Restaurant.

NCDRC lambasted Snack Bar for having collected Rs150 for a can of Red Bull from Delhi resident D K Chopra, while the retail price was Rs75. It also came down heavily on airport authorities who it said were "working in cahoots" with stall owners to obtain higher rates for licences. The commission directed the stall owner also to pay Rs10,000 to Chopra.

Chopra bought the drink at the airport in October 2009. Unhappy over being charged almost double, he issued a legal notice, but the stall-owner did not reply. Chopra then moved the District Consumer Disputes Redressal Forum (DCDRF) for a compensation of Rs2 lakh for "harassment and mental agony," and Rs11,000 as "travel and legal expenses." But the forum dismissed his complaint.

Chopra then filed a first appeal in the State Consumer Disputes Redressal Commission (SCDRC). This too was dismissed on the grounds that he had failed to prove the MRP of the product. He submitted two receipts for purchasing the drinks, which were not signed by the owner.

He approached the NCDRC. Counsel for Snack Bar said they were entitled to collect twice the MRP and submitted a letter from the deputy general manager, commercial at Chennai international airport. The letter mentioned the price of "imported juice/energy drink" as Rs140.

Questioning the logic of its classification as a juice, it said "by no stretch of imagination Red Bull can be called an imported juice energy drink." "Such a price list can be created any time and has exiguous value," said the commission. It also said the letter did not have endorsement from the Airports Authority of India. "Even if it is assumed that AAI had given permission, they are not empowered to do so. AAI cannot disturb MRP rates," the commission said. Stating a snack joint was "like a tea/ beedi stall," it said a person could not be forced to pay the prices which have been prescribed for restaurants.

"The stall owner has no right to misappropriate public money. It should go back to the public." said the commission, adding the vendor might have been charging above the MRP before 2009 and would have earned "crores of rupees." It directed the vendor to deposit the fine in the consumer welfare fund under the ministry of consumer affairs.

Coutesy: TOI

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