Common Scams happpening in India, list the ones you may know

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In Mumbai, if you see a group of people on say street side and one guy is gambling using 3 cards or dice under steel glass or something, never ever go there. These people operate in groups and can pick pocket your wallet and if you bet your money, you may win the first time but then always lose.
Also the other people who are "winning" are part of the gang.
 
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raksrules said:
Since LIC has been mentioned here, can anyone say what all should one ask to the LIC agent before taking a policy. We have couple of LIC policies already taken but want to still ask the agent the requisite questions and may be bail out if required.
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My dad is an LIC agent for several years.
I dont remember him selling ULIP policies to any one.
Also now-a-days there are a lot of software programs available for creating a financial plan based on one or more policies as per the investment planning/financial needs of the client.
There is a configurable value while generating the plan(don't remember the exact term) which affects how much amount you get on maturity. (similar to FD interest rates)
This rate is declared by LIC each year and AFAIK people get returns as per the current rate.
So we keep it to the current value for the policy(as declared by LIC), so as not to deceive the client of the expected maturity amount (if the rate increases then the client will be more than happy).
P.S.: AFAIK this rate normally increases by a small amount each year.
 
Diamonds.

Yep, those shiny little rocks are not that rare or precious. But for a century, men have been told to buy a diamond ring to express love.

You folks should read this very lengthy article published in 1982, because it is still relevant today.

http://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/

I thought I should post this because we Indians are getting bombarded with advertisements for diamond jeweleries and it is biggest scam on this planet, running for almost a century.

Here is another short article which explains why diamonds are bullshit and how scarily the diamond industry works like mafia or cartel.

http://blog.priceonomics.com/post/45768546804/diamonds-are-bullshit

Also, there aren't any artificial diamonds. There are synthetic or man-made diamonds, but they are not artificial and due to being manufactured in a controlled environments, are purer than mined diamonds and are used in industries for the same purpose.

I'm not even touching the issues of human rights violations, child labours and soldiers and how narrow the definition of ethical or conflict-free diamond is.

If a person still wants to buy diamond jewelery after reading above articles, then in my opinion they are vain and shallow and I'm better off without such people.
 
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Mr.J said:
If a person still wants to buy diamond jewelery after reading above articles, then in my opinion they are vain and shallow and I'm better off without such people.
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I have read them before, indeed very good articles.

No one cares, If you are better off without such people, since not only rich people but middle class families are also buying Diamond on a large scale(no. of families X carets bought).

They think that diamond extraction is just same as gold/silver, their mindset won't change.
 
I think I saw on some channel in a documentary that the nearer we go to the earth's core, the better chance we have of finding diamond crystals. I think there's kilometers of diamond crystals inside the earth.

Edit: think you can find diamonds near volcanic mountains too. Some diamonds come out during eruptions and get locked in lava.

Humans are like crows. We like anything shiny.
 
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Diamonds...marketing genius.

Reminds of this quote from Mad Men:
TVfqkyp.jpg
 
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All those sim card selling agents. There have been many cases of them misusing your documents to give sim cards to others. Many a times these sim cards have been used in terrorist activities.
I have a question, when we call customer care can we ask them how many sim cards have been issued in my name, using the same name and document combo given for the number that I am using?
 
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I got a call from a guy, claiming to call from the Head office of some SOLAR bank. He spole in Hindi. I asked which bank, he mumbled the name. Then I asked which branch, and he said Mumbai. I let him continue his act. Then he says, 'Apka jo bank ka card hein, woh expire hone wala hein. Mein use online renew kar deta hoon' - (He said he will renew my debit card online).I said ok, do it. He then asks for the CARD number. I mumble 16 random numbers, and he said epiry date and 'piche' mein jo number hein. I said 'Sorry'. He then starts abusing in Hindi.
His number: +918298167667.[DOUBLEPOST=1402990781][/DOUBLEPOST]Any way to report this?
 
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mrmash said:
All those sim card selling agents. There have been many cases of them misusing your documents to give sim cards to others. Many a times these sim cards have been used in terrorist activities.
I have a question, when we call customer care can we ask them how many sim cards have been issued in my name, using the same name and document combo given for the number that I am using?
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Would like to know the same. If anyone wants to know the same, please like my post [Another small mini likes scam ;) ]
 
1. The buy an item + free toothbrush / pen offers. The sellers, sell them separate.
2. Banks asking to maintain minimum balance, and when this "rider" kicks in, they deduct money.
3. Recruiting companies asking money (refundable as per them) for F2F interviews with top honchos.
4. Sahahara Group.
5. FUP.
6. Unlimited Broadband Plans.
 
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Mr.J said:
Diamonds.
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I hope the these quick facts about diamonds will change your opinion about purchasing them.
1. Diamonds are not rare. they are very abundant.
2. 90% of the diamond market is controlled by one company. DeBeers. They sell diamonds at a fixed price and to select customers only once an year thus controlling the market. They buy all the diamonds from the open market (the other 10% market) and also from the terrorists in african countries like Sierra Leone.
3. "Diamonds are forever" is a slogan by DeBeers marketing campaign which can be considered as the most clever ad.
4. If you ever want to buy Diamonds, *insist* on Kimberly certificate. You definitely don't want to buy blood diamonds.
5. Finally watch the many horrific documentaries on youtube about the dark side diamond trade.
 
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raksrules said:
@booo

Can you please give links of some of those documentaries related to diamonds.
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I watched many documentaries on youtube explaining the de beers business model and the shady practices they followed and the blood diamonds.

The below documentary explains blood diamonds in general:
There was another documentary which explains their successful "diamonds are forever" market campaign and engagement ring ads.

Also obligatory video on vice's guide to Liberia

There was also a recent news report that Russia found new vast diamond reserves near Siberia which are bigger and more suitable for scientific industry and will change the dynamics of the diamond market. again... in scientific terms, carbon is an abundant element in nature, how come diamonds are rare?
 
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booo said:
I watched many documentaries on youtube explaining the de beers business model and the shady practices they followed and the blood diamonds.

....

There was also a recent news report that Russia found new vast diamond reserves near Siberia which are bigger and more suitable for scientific industry and will change the dynamics of the diamond market. again... in scientific terms, carbon is an abundant element in nature, how come diamonds are rare?
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Read this to dispel the Siberia myth as well as other myths about Diamonds being precious:

Note article is from Feb 1982. http://www.theatlantic.com/magazine...ed-to-sell-a-diamond/304575/?single_page=true

And then the updated one: http://blog.priceonomics.com/post/45768546804/diamonds-are-bullshit

Fact, traditional gemstones are more rare than Diamonds today.
Fact, resale of Diamond gets you 60-70% of the price paid, unless you got a certificate at time of purchase that assures you 90% of purchase price at time of sale.
Fact, artificial Diamonds are the exact same, except they have not come from a Mine. Infact, you may find often them better.
Fact, your significant other will not listen to anything, and you will still spend money on Diamonds by De Beers
 
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