Tamil On Credit Cards Ramayana On Loans

Front and Back view of Credit Cards..jpg

People used mock at one who borrows money, Pledge things till about forty years ago.

Now possessing a credit card is a status symbol.

Gold Loans.jpg
Gold Loans.

One who does not have it is looked down, even a shopkeeper looks down at you if you say you do not have a credit card!

I have seen people covering their heads before entering a Pawnshop to pledge.

Now we have advertisements exhorting people to avail Gold Loan!

…..The same pathetic situation with the Nations.

We had Argentina earlier,followed by Ireland, now Greece .

Nations have been humiliated.

All because of spending more than Income!

Economists(!) of the Keynesian variety might use any jargon like restructuring of Finances, Packages…….

What essentially has happened the borrower has been ridiculed, his very independence in peril.

Greece is a case in point.

No point in blaming the lender.

He is merely asking his money back

This is because people madly follow the US, by spending more than what they have,on imagined earnings/projected earnings.

US does not have enough God Reserves in Fort Knox to back up its debts.

Read my Posts on this.

No what does the ancient Language Tamil say of Credit, borrowings?

Tamil Peom on Credit.png
Tamil Peom on Credit. by Avvaiyar

Adhigam Selavaanaal
Maanamizhandhu Madhikettu Pona Dhisai
Ellaarkkum Kallanaai Yezhupirappum Theeyanaai
Nallaarkkum Pollaanaam Naadu”

One who spends more that what he earns, ( gets a loan to meet out his expenses), will lose his dignity, lose his mind and will be considered by all as thief in whatever he goes.

He will be a sinner in all his births and will be called bad even by the Good , despite all his other good Characteristics.

What his mental would be, when he faces the creditors?

Kambar, the Great Tamil Poet, in his Ramayana, answers this.

Kambhar on Credit,Kambha Ramayan
Kambhar on Credit,Kambha Ramayana, Tamil.

‘Like a fish that has taken in poison; Like the wax near a hot flame; Like the toad that got caught between the venomous jaws of a snake; When the brave arrows of Lord Rama flew in the war field. Ravana’s feared and panicked as of the victim’s position in the above situations that can be compared to the person in a debt’

Prayer For Court Financial Problems

A Reader had sent an email asking me for mantras for relief from a Court Case and relief from financial harassment, ruination .

If the facts of the case presented are true, then the following Mantra will certainly alleviate the problem.

The sloka I am reproducing below is a very rare one as it is by Sri Rudra on Lord Narasimha.

Lakshmi Narasimha
Sri Lakshmi Narasimha

I am not aware of any other Deity being praised by Rudra,( not Siva)

This Mantra is called as the King of Mantra , Mantra Rajapatham.

Begin reciting the mantra on any waxing day of the Moon‘ preferably on the fourth day,Chaturthi , in the morning.

If you know Ganpathy Mantras recite a few of them, at least one.

Then recite the following mantra, Eleven Times a day for 45 days.

As Naivedyam, offer freshly cooked Curd rice.

On the day of completion, if you can afford, you may donate Dhoti and Angavastram or Saree and Blouse piece for the deserving,especially poor and

feed them.

Do not offer money.

The Mantra.


ஸ்ரீ மந்த்ர ராஜபத ஸ்லோகம் (MandraRajaPadha Slokam in Tamil)

அன்றலர்ந்த செந்தாமரையினை வென்று நிற்கும் திருமுக மண்டலமும், திருநேத்ரமும் படைத்தவன் எம்பெருமான்.  அடி பணிந்தோரின் பகைவர்களை அறவே பூண்டோடு அழித்திடுபவன். தமது சிம்ம கர்ஜனையால் அண்டங்கள் அனைத்தையும் அதிரச் செய்தவன்.  அப்படிப்பட்ட எங்கும் பரவி நின்ற உக்ர ரூபியான எம்பெருமானை நான் வணங்குகிறேன் என்கிறார் ஸ்ரீ ஈஸ்வரன். (1 )

வரத்தால் வலி மிக்கவன் அசுரனான ஹிரண்ய கசிபு.  அவனை நகத்தாலே தகர்த்து எறிந்த வீரனாகிய நரசிம்ஹனை நான் வணங்குகிறேன். (2)

திருவடி பாதாளத்திலும், திருமுடி அந்திரிஷத்திலும் எண் திக்கிலும் திருக்கரங்கள் பரவி நின்ற மஹா விஷ்ணுவாகிய நரசிம்ஹனை   நான் வணங்குகிறேன். (3 )

ஒளியுடைய சூரியன், சந்திரன், நக்ஷத்திரங்கள் ஆகிய அனைத்திற்கும் ஒளியானவன்.  இவனுடைய ஒளியினால் எல்லாம் ஒளி பெறுகின்றன.  அப்படிப்பட்ட ஒளிமயமானவன், ஜ்வலிக்கின்றவனை நான் வணங்குகிறேன் என்கிறார் ஸ்ரீ ஈஸ்வரன். (4 )

எல்லாவற்றையும், எங்கும், எப்போதும் புலன்களின் உதவி இன்றியே நன்கு அறிபவன்.  முழுமுதலான எங்கும் முகமுடைய சர்வதோமுகனை நான் வணங்குகிறேன். (5 )

நரங்கலந்த சிங்கமதான திருவுருவத்துடன் தோன்றிய மகாத்மாவானவனை, மாபெரும் பிடரியுடனும், பற்களுடனும் காட்சி அளிக்கும் ஸ்ரீ நரசிம்ஹனை வணங்குகிறேன். (6 )

எவனுடைய பெயரை நினைத்தாலே பூதங்கள், பிசாசங்கள், ராகஷசர்கள் நடுங்கி ஒடுவர்களோ, தீராத நோய்கள் அனைத்தும் தீர்ந்தொழியுமோ அப்படிப்பட்ட பீஷணனை (பயங்கரமானவனை) நான் வணங்குகிறேன். (7 )

எல்லோரும் எவனை அடி பணிந்து எல்லா விதமான மங்களங்களையும் அடைகின்றனரோ, மங்கலமானவளான ஸ்ரீ மகாலக்ஷ்மியுடன் சேர்ந்துறையும் மங்களமானவனை நான் நமஸ்கரிக்கின்றேன். (8 )

காலத்தில் வந்து பக்தர்களின் சத்த்ருகளுக்கு மிருத்யு ஆனவனான, மிருத்யுவிற்கும் மிருத்யுவான (மிருத்யுமிருத்யும்) வனை நான் வணங்குகிறேன். (9 )

அவன் திருவடிகளில் நம: என்று கூறி ஆத்ம நிவேதனம் சரணாகதி செய்து விட்டால் அவன் யாராயினும் காத்திடுவான்.  துயர் கெடும்.  இன்னல்கள் இடிபட்டோடும்.  இத்தகைய நலன்களை அருளும் எம்பெருமானை நான் வணங்குகிறேன். (10)

எல்லோரும் அவனது தாஸர்களே.  இயற்கையிலே தாஸர்கள்.  நானும் அவனுக்கு தாஸன் தான் என்பதை நன்கு உணர்ந்த நான் அவனை வணங்குகிறேன். (11)

இந்த மந்திரங்களுக்கு எல்லாம் ராஜாவான ஸ்ரீ மந்திர ராஜத்தின் பதங்களின் தத்வ நிர்ணயம் சங்கரனான என்னால் மிகவும் உகந்து வெளியிடப்பட்டது.  இந்த ஸ்ரீ மந்திர ராஜ பத ஸ்தோத்திரத்தை தினமும் காலையில் மதியத்தில், மாலையில் யார் உகந்து உரைக்க வல்லார்களோ அவர்களுக்கு நீங்காத செல்வமும், வளமிக்க கல்வியும், நீண்ட ஆயுளும் நலமுடன் விளங்கும் என்று பலச்ருதி கூறி முடிக்கிறார் ஸ்ரீ ஈஸ்வரன். (11)

Mantra Rajapatha Stotram

Vritthotphulla visaalaaksham vipakshakshayadeeksitam
Ninaadatrasta vishvaandam Vishnu ugram namaamyaham (2)
He who is having big and round eyes, He who has taken a vow to kill the enemies, He who by His fierce roars is shaking the entire world, to such a ferocious Lord, I offer my salutations.
Sarvairavadhyataam praaptam sabalaugham ditessutam
Nakhaagraih sakaleechakre yastam veeram namaamyaham
He who with His sharp nails tore to pieces the asura, the son of Diti who could not be killed by anyone along with His large armies. To such a valourous person, I offer my salutations.
Paadaavashtabddha paataalam moordhaavishta trivishtapam
Bhuja-pravishtaashta-disam mahaavishnum namaamyaham
I offer my salutations to Maha Vishnu, whose feet touch the nether lands, whose forehead touches the heaven and whose hands spread in all directions.
Jyoteem shyakrendu nakshatra- jvalanaadeenyanukramaat
Jvalanti tejasaa yasya tvam jvalantam namaamyaham
He after whose luster the luminary bodies, the Sun, the Moon, the Stars and Fire are effulgent and are shining, to that resplendent One I offer my salutations.
Sarvendriyairapi vinaa sarvam sarvatra sarvadaa
Yo jaanaati namaamyaadyam tamaham sarvatomukham
To that Form of the Lord, which is half man and half lion, complete with the mane, the canine teeth, to such a divine Lord Nrsimha, I offer my salutations.
Naravat simha vachhaiva roopam yasya mahaatmanaha
Mahaasatam Mahaadamshtram tam Nrisimham namaamyaham
To that Form of the Lord, which is half man and half lion, complete with the mane, the canine teeth, to such a divine Lord Nrsimha, I offer my salutations.
Yannaama-smaranada bheetaa bhootha bhetaala raakshasaah
Rogaadyaascha pranaschhanti bheeshanam tam namaamyaham
By the mere thought of whose name, devils, demons, asuras get frightened, acute diseases get cured, to such a frightening One, I offer my salutations.
Sarvopi yam samaasritya sakalam bhadramasnute
Sriyaa cha bhadrayaa jushto yastam bhadram namaamyaham
I offer my salutations to the Lord, the repository of good things, worshipping whom all the people are able to obtain auspicious things.
Saakshaat svakaale sampraaptam mruthyum satru gananvitham
Bhaktaanaam naasoyed yastu mrityu mrityum namaamyaham
He who is “Death to Death” and He who destroys death and hosts of enemies of the devotees by arriving at the right moment, to Him I offer my salutations.
Namaskaaraatmakam yasmai vidhaayaatma nivedanam
Tyaktaduhkho’khilaan kaamaan asnutam tam namaamyaham
I bow down to the One by offering obeisance to whom in the form of One’s own self, people get rid of all miseries and obtain their desired objects.
Daanabhootassvatah sarve hyaatmaanah paramaatmanah
Atoham api te daasah iti matvaa namaamyaham
All the living beings are, by nature, servants of the Supreme Being, I am prostrating to You, with the awareness that I am also for the same reason, Your servant.
Sankarenaadaraat proktam padaanaam tattvam uttamam
Trisandhyam yah pathet tasya srividyaa yocha vardhate (2)
The meaning of the words had been explained by Lord Siva out of affection. Whosoever reads this hymn with faith, thrice a day (at Sunrise, mid-day and evening) would have a great increase in knowledge, longevity and prosperity.


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Insurance Malpractices LIC Withdraws 34 Policies

I have seen people, in the middle of an Insurance Agents sales talk, inform him/her, to set some parameters like safe,good returns Policy.

Merrily the Sales person obliges.

Insurance policies change.
Changes in Insurance Policies.

What happens next is that you are sold a Policy on which the Agent gets a hefty commission.

Though the commissions are said to be uniform some policies do attract a better commission than the others because of the high risks to the insured and better returns to the insurer.

Many simply sign on the dotted lines, asking the agent to fill in the necessary details, and hand him over the originals even for photocopying.

As it is there is fine print, where your risks are mentioned in such a corner and in such a font type you can not read it, even if you read you can hardly understand it, such is the jargon.

The Agent if asked to explain will normally say it is just for the records and you will get your returns or use further confusing arguments.

So much so the complaints against Insurance mal practices, forgery have increased, as disclosed by IRDA.

Insurance complaints,
Insurance Complaints received by IRDA.

Now LIC has decided to stop selling 34 Policies from January 2014.

One big lie currently doing the rounds is that some of the best-selling plans from LIC are going to be discontinued after the new Irda guidelines come into effect. From 1 January 2014, claim the rumours, policies will become costlier because you will have to pay service tax as well. In the following pages, we separate the facts from the fiction.

 Agents have effectively used these half-truths to make people rush to buy insurance before the guidelines come into force. In September, the LIC sold new policies worth Rs 8,434 crore. This was 55% higher than the premium from new plans sold in September 2012. Sources reveal that Rs 2,000 crore of this amount was collected in the last two days of the month. Private insurance companies, too, were not far behind. They sold policies worth Rs 2,785 crore, up 29% from the previous year.

The original deadline of 30 September has now been extended till 31 December. This has given a lease of life to insurance companies. In fact, the Life Insurance Council says it may seek a further extension if companies are not able to launch new products that comply with the revised guidelines. The period from January to March is considered the festive season for insurance in India and no insurer wants to miss the party…

Soon, these good plans will not be available.

Some of the most widely sold endowment policies and money-back plans will soon go off the shelves. However, if you buy them before 31 December, you can enjoy their benefits. The first statement is true. The second is only partially true. While many insurance policies will be discontinued, they will be replaced by better, more customer-friendly plans. Irda’s new guidelines for traditional plans have not only enhanced the surrender value of a policy, but also lay stress on longer terms and higher covers.

LIC to withdraw 34 Policies.

Insurance giant Life Insurance Corporation (LIC) has decided to stop selling as many as 34 policies, including Jeevan Anand, Jeevan Madhur and Jeevan Saral, to comply with new regulatory guidelines. 

These policies are withdrawn in December as they are not in conformity with the provisions of new regulations on non-linked insurance products, linked insurance products and health insurance products, a senior LIC official said. 

Of the 34 products, LIC will stop sale of Jeevan Am .. 

Of the 34 products, LIC will stop sale of Jeevan Amrit from December 7, Jeevan Surabhi from December 14 while two other schemes from December 21 and December 28 respectively. 

Remaining 28 policies will go off LIC’s shelves from December 31. 

Last month, LIC had withdrawn 14 policies including Convertible Term Assurance, Children Deferred Endowment Assurance. 

These policies are being discontinued as part of regulatory compliance. 

The Insurance Regulatory and .. 

Home EMI Default,Taking Corrective Action

Buying a Home through Home Loans is the norm of the Day.

Days are past when being a Debtor was  considered a Sin and attracted social ostracism.

Now if you do not have a Credit card or Loan EMI, you do not belong to the uppity group.

Now that you have availed of Home Loan, it is prudent to know what action to take in case of unforeseen default.

EMI Default Points, Home Loans.
EMI Default Points, Home Loans.

1.Temporary problem in Repayment of EMI.

This might arise due to unexpected loss of job or expenses incurred in the Family due to Death, Illnesses.

In these cases represent the cases to the Lender the details in writing and request them for a minimum break from payment of EMI.

This may not be possible,

However ,depending on your credit rating, the managers may use their discretion in granting you relief.

This also may not be enough.

Make sure , if this request is granted, to stick to accepted schedule of payment.

You may also request them for a reduced EMIs at longer period of repayment.

This may be considered favorably ;this depends on your credit rating, qualifications company you work for or the number of years you have served in a company.

2.Permanent Failure to pay EMI.

You have no other option but to ask the Creditor to realize the mortgage and debit your account the balance if any.

Handling Collection Agents.

Inform th Collection Agent the position and confirm the details in writing to the Creditor.

Do not use abusive language.

In case the Collection Agents behave rudely including use of abusive language, report to the Link provided here below.

RBI is very clear on this.

Lenders are willing to negotiate 

Attaching a property is the last thing a lender wants to do. Though banks have the power to enforce the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, (SARFAESI) to recover non-performing assets without the intervention of a court of law, this is the last step they prefer to take. A bank usually lets one mortgage payment default slip by, but for the next one, it will mail you a reminder to inform you that your payments are late. After three defaults, the bank will send a demand notice, asking you to pay your dues as soon as possible.

“If the borrower doesn’t respond to any of the mails, the bank sends a legal notice through its legal department,” says VN Kulkarni, chief counsellor at Abhay Credit Counselling Centre, which is sponsored by the Bank of India. A bank waits for three months before declaring an asset a non-performing one. “After the end of this period, the bank can officially term thehome loan an NPA and start the process of recovering the property through the SARFAESI Act,” says Kulkarni. Even after invoking the Act, the bank gives the borrower a 2-month notice period to repay the dues.

“Finally, five months after the first default, the bank sends a notice, stating that it has valued the property for a certain sum and that it will auction the house on a particular date. This is usually set for a month from the date that the bank mails you the auction notice,” adds Kulkarni.


On Collection Agents.


3. The bank would respect privacy of its borrowers.
4. The bank is committed to ensure that all written and verbal communication with its
borrowers will be in simple business language and bank will adopt civil manners
for interaction with borrowers.
5. Normally the bank’s representatives will contact the borrower between 0700 hrs
and 1900 hrs, unless the special circumstance of his/her business or occupation
requires the bank to contact at a different time.
6. Borrower’s requests to avoid calls at a particular time or at a particular place
would be honoured as far as possible.
7. The bank will document the efforts made for the recovery of dues and the copies
of communication sent to customers, if any, will be kept on record.
8. Inappropriate occasions such as bereavement in the family or such other
calamitous occasions will be avoided for making calls/visits to collect dues.
3. Giving notice to borrowers
While written communications, telephonic reminders or visits by the bank’s
representatives to the borrowers place or residence will be used as loan follow up
measures, the bank will not initiate any legal or other recovery measures including
repossession of the security without giving due notice in writing. Any genuine
difficulties expressed/disputes raised by the customer will be considered by the banks
before initiating recovery measures. Bank will follow all such procedures as required
under law for recovery/repossession of security.


Still you have problems report to Consumer Forums.

Plese read my blog posts filed under consumer forum.

Don’t Let Credit Card Do This to You

A Man aged 57 set himself ablaze after having accumulated  more than £150,000.

A grandfather set fire to himself at home after amassing hidden debts of more than £150,000 and keeping them hidden from his wife of three decades, an inquest heard yesterday.

Ibrahim Omar, 57, of Bolton, Greater Manchester, put family photos and other personal items in his daughter’s car and left the car keys outside his house before setting himself alight indoors.

The former petrol station cashier suffered ‘95 to 97 per cent full thickness burning and charring’ to his whole body and was declared dead at the scene, the inquest at Bolton Coroner’s Court heard.

While using a Credit Card you do not actually have the feel of the money slipping from your hand and this has a psychological effect of not being acutely aware of spending.

Judicious use of Credit card requires a skill and a strong will.

I have seen my daughter and Daughter in Law doing it without paying interest whatsoever at the same time earning points to buy some thing free!

Do away with Credit Cards.

Credit Card death.
Emergency response: Ibrahim Omar’s body was discovered by firefighters in the front bedroom of his semi-detatched house in August and a post-mortem test revealed that he had been alive when the fire started


Mr Omar was suffering from depression and had told his GP that he had trouble sleeping due to his anxiety over money – but Mr Omar’s family were unaware of the extent of his illness.

‘He was a much-loved father and grandfather and will be sadly missed’

Ibrahim Omar’s son, Imran

His son, Imran Omar, said: ‘It has been a massive shock to the family and the community. He was a very popular, happy and enthusiastic man. He was a much-loved father and grandfather and will be sadly missed.’

Deputy coroner Alan Walsh recorded a verdict that Mr Omar took his own life while suffering from depression. He said his debts were made for the family’s benefit but had escalated out of control.


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