Personal finance: You ask, we answer

Ramesh Yadav asks:
Is there any monetary limit in a comprehensive shop insurance policy? Please advise.

Gaurav Garg, MD & CEO, Tata AIG General Insurance Company, replies:
There is no specific limit in a comprehensive shop insurance policy, as the sum insured is based on the actual value of the contents and the building or the shop. A comprehensive shop insurance policy, commonly known as Shopkeeper Package Policy, offers a wide range of covers in a single policy such as Fire and Allied Perils, Earthquake, Terrorism, Burglary, Money in Safe and in Transit, Business Interruption, Plate Glass, Fidelity (financial loss due to employee dishonesty), Public Liability (third party liability) and so on. A shopkeeper can cover building, assets and stock under the fire section for which he has to declare the sum insured. Similarly there is a limit of liability specified for each of the other sections and the premium is charged accordingly.

Col Joshi asks:
On 14 Nov 2011, I handed over an outstation cheque to my bankers for collection through the pay-in slip. The bankers sent the cheque for realisation through Speed Post. Till date the cheque has not been credited into my account.On finding out from the bank it was revealed that the cheque was perhaps lost in transit. Bankers have lodged a complaint with the Speed Post without any success, so far. It was an account payee cheque. I have lodged a complaint with the bank under Right to Information Act (RTI Act - 2005), requesting them to credit my account with the principal and interest accrued. My RTI application hasn't been replied to. Am I on the right track?

Prashant Joshi, MD, Deutsche Bank, replies:
Only public sector banks are under the purview of the Right to Information (RTI) Act. However, the information sought in this case is not of public interest and hence RTI may not be applicable. You may simply lodge a complaint and request your collecting bank to help you obtain a Non-payment Certificate (NPC) from the drawee bank in confirmation of the lost instrument being outstanding. The collecting banker should provide you the NPC along with a covering letter with details of the instrument and collection reference with a request to let you, the beneficiary, obtain fresh cheque in lieu of the lost one from the drawer, and to ask drawer to initiate stop payment with his bankers while issuing fresh cheque.

HR Issarani, Pune, asks:
I had invested in the two-year fixed deposit, maturing for payment on December 17, 2011, with M/s Unitech Ltd. The fixed deposit receipt duly discharged on revenue stamp has to be sent three weeks before the date of maturity, as per the rules of company. But, so far the cheque/DD has not been sent by company. When ever I contacted the concerned department (responsible for fixed deposits), I got ambiguous replies. Kindly help. (Details - FD number: UL/FD/A//010741; In the name of: Harchand Ramchand Issarani; FD amount: Rs 2.30 lakh; Date of maturity: December 17, 2011)

Unitech's Response:
We have checked the history of payment for FDR no A/010741. It has been been dispatched and will reach the investor in 4-5 days.

Subsequently, the company wrote to the reader promising  to send the payment on January 25, 2012 by speed post with an assurance to process the interest claim for delay/default period within 21 days.