Common Scams happpening in India, list the ones you may know
- Thread starter raksrules
- Start date
I think RELATIVES should be marked as a big scam themselves.
There was one for 8k, and we bought one too. #^$@*(#&$ relatives convinced my parents to get it. 12-14 years ago when I was still too young to give a damn.
There's the latest thing they're selling now, Tupperware boxes. My mum loves it, so she bought 3k worth from a relative. Then I noticed that they were not microwave compatible! Relative refused to exchange and brought 3k more of microwaveable ones to buy.
I'm not at home often, and that often leaves my mum helpless against scammers like these relatives.
There was one for 8k, and we bought one too. #^$@*(#&$ relatives convinced my parents to get it. 12-14 years ago when I was still too young to give a damn.
There's the latest thing they're selling now, Tupperware boxes. My mum loves it, so she bought 3k worth from a relative. Then I noticed that they were not microwave compatible! Relative refused to exchange and brought 3k more of microwaveable ones to buy.
I'm not at home often, and that often leaves my mum helpless against scammers like these relatives.
eternoMind
Skilled
I thought the Tupperware thing was over by the start of the 2000s!
eternoMind
Skilled
Dude, this ain't the place for broken hearts !!
It's all about how not to break your wallet
luv*
It's all about how not to break your wallet
pyaar ke saamne paisa kya cheez hai
BTW, lot of people have been conned/scammed/lost money by falling in love on facebook/orkut
how's ULIP a scam? it's the mistake of a buyer if they don't try to understand the complexities involved with ULIP. and agents take advantage of it. this is my 7th year of investing in ULIPs and so far i've only made profit.
avi
Skilled
I completely agree with this. I have been to Apollo Hyd and also Yashoda, I say same for both.
but then which are some good hospitals in Hyderabad?
sharktale1212
Skilled
^ I end up watching some of those dubbed ads for their entertainment value - funny voice overs and funnier actions that go along with them.
Its surprising no one has mentioned - eBiz till now -- I guess not many 2006/2007 passouts
Its surprising no one has mentioned - eBiz till now -- I guess not many 2006/2007 passouts
asingh
Super Mod
Using this logic nothing would be a scam, if one does research and due diligence. Agents masked details and suppressed components which were discovered post sales. That is why ULIP was de-linked as an investment vehicle.
Dude, this ain't the place for broken hearts !!
It's all about how not to break your wallet
Maybe, he was left with a broken purse along with a broken heart
pyaar ke saamne paisa kya cheez hai
BTW, lot of people have been conned/scammed/lost money by falling in love on facebook/orkut
Ugh. ULIPs. Have a ULIP maturing today. I don't even want to think about the money lost due to it.
@gauravH : you might've made a profit. Every such scam makes you think you've made a profit. But a small one.
But just compare the money invested and calculate if you invested in any top 30 mutual funds and one term insurance plan (which is basically what the ULIP is). And then compare the returns. The amount difference would be huge.
(Link: http://www.subramoney.com/2013/12/insurance-mis-selling/ )
hotshot05
Skilled
Is Tupperware a scam?
Tupperware boxes are not available in stores.
eternoMind
Skilled
BTW, lot of people have been conned/scammed/lost money by falling in love on facebook/orkut
That's not love man, that's just the dick being... erm... a dick!
Not really a scam per se but more about selling overpriced stuff.
The high prices are usually because of too many intermediaries and selling it was quite the entrepreneurial rage among housewives around 10-15 years ago.
An immediate relative of mine still indulges in the same and I was surprised to see the business still around; more so when I read about it here. She hounded my mother for her contacts and friends but I had given her strict instructions not to entertain her and my mum too was wary of it. So she simply bought some minor stuff for her own use and pulled a shutter over the whole thing. Last I heard, this woman relative still had close to 50K worth of overpriced Tupperware inventory lying unsold at her home.
girls don't have dicksThat's not love man, that's just the dick being... erm... a dick!
If your NAVs were losing value then why did you hold on to it for so long? It was your choice to keep investing in the sinking ship.
Anyways, I was not scammed as I bought the ULIPs on my own. No agent forced them down on me. I followed the NAVs closely and after the initial investing period of 3 years, I stopped paying premium for 2 years. And when the market stabilized, I revived it and moved my ULIP to a high-risk band - which gave me 17% more returns than my earlier plan.
Yes, with this logic it's not a scam.
Scam is when someone plays with your emotions to let you part with your money. They gain your confidence and make decisions on your behalf.
One can get easily conned/scammed by that stranded-family-in-an-unfamiliar-place, because of our innate desire to help others. When we give money to such people, we are not expecting it back... it's sort of charity and it makes us feel happy/proud (or whatever). But when it comes to investments, we expect our money back with some profits. Now who is supposed to do the due diligence here? Buyer/investor or the agent? And they even read out the disclosure text for you one the TV. So, you had been warned!
Relatives take advantage of our 'emotions' and try to sell us "stuff we don't need." That's a scam as we are not made aware of the company's real business model. But when it comes to investments/ULIPs etc we have all the necessary documents with us to make a wise decision. And if anything goes wrong, we can always quit midway by paying some penalty or booking some loss. None of the other scam businesses offer such options (Tupperware, Amway, Stranded family, bogus NGOs etc)
Pat
Skilled
Da ****. Something like this happened to me last week in Lonavala. I saved myself though.
This is how it panned out. I asked a guy to do a full-tank on my car. Another guy comes in and starts filling. Stops at Rs. 500. I said "Maine full bola bhaiya". The guy shouts at the first guy and says "Bolna tha na full bola hai, chalo reset karo". Meanwhile the first guy asks me "which card blah blah" (now I know he was trying to distract me). I vaguely remember that the counter was not reset (I was not sure about this though). Then the meter stopped at "Rs. 1700" which was way below my full-tank capacity. I said "bas itna hi, he said full ho gaya hoga, check karo". It was not even close to full. I paid him Rs. 2000 and he says "200 aur" and I just bluffed confidently "meter reset nahi kiya tha maine dekha" and then the guy asks the first guy and then profusely apologizes saying he din't know and blah blah. I was wondering how the meter stopped at Rs. 1700. After reading this post here, I am sure they tried to pull a scam on me and guessed my full-tank would be closer to 2.2-2.5k and hence just filled 1700 worth of fuel. I am glad I acted confident and saved 500 bucks.