Found a letter from ICICI Bank waiting for me as I came home today. It was to inform that from 01-Jul-08, they would be revising the minimum quarterly average balance (QAB) from Rs.5,000 to Rs.10,000 for savings accounts.
Even though investors today are a much more informed lot, there is still a lot to be done in terms of educating them on the merits of investing / not investing in certain types of companies.
A case has now been registered against Sigma Autolink Pvt Ltd, based in Aurora Towers, Pune, for cheating it’s investors during a span of 3 months last year.
Just returned to Pune after a great time at Goa, and found a thick envelope from American Express waiting for me. Opening it presented an invite from them offering a “pre-approved” membership of the American Express Kingfisher First Credit Card, which is basically a Platinum card. This was actually a bit of a surprise, considering I was considering returning both my existing American Express credit card as well as the American Express charge card.
Reason: These are the only cards I have where an annual fee is levied, and though I didn’t mind it initially, it is an issue now, especially when all other cards are free, regardless of whether they are Gold, Platinum, Titanium etc!