u/auto-palta-de

Not proud to say this, but even after spending almost a decade in Pune, I still don't speak Marathi well. I understand most of it, but when it comes to speaking, I somehow can't find the right words. Still, I try to speak to my Marathi colleagues as much as I can. I still get made fun of for not pronouncing ळ correctly, but that hasn't deterred me.

So, the other day, someone came to my desk to ask me something, and I wanted him to sit on an empty chair beside me. So I told him, "Basiye na"

Man, the laughter that followed

My parents in their late 60s/early 70s are not tech savvy. Ex, still they can't switch between front and back camera angles on WhatsApp, despite showing them numerous times. Mom may do, but dad cannot at all. Even teaching him to take amoney out of ATM was hard. They stay in my hometown in MP, and I stay in Pune.

Both have bank accounts and they use them to withdraw pension and keep some saving. I manage all the utility/grocery payments online like electricity, broadband, recharges etc, and if they need something quickly, I ask them to call me and I order via Blinkit. Also, anything for Amazon/Flipkart, I ask them to add to the cart and I order it.

For any other payment, they still use cash which I think I is safest for them. With all the online frauds and scams, I prefer that they use cash and I have asked them that if the amount is more or if the person is not taking cash, they send me the QR Code via WhatsApp and I make the payment. (Teaching them to send a photo on WhatsApp was another challenge and they mastered it eventually). Or if they go with my sister/jiju, they pay and I transfer to them later.

My dad doesn't feel good about it and he is independent and wants to pay himself and does not rely on me. Also, he feels he disturbs me if I have to pay for something in the middle of office.

My point is that first of all, I want to pay for as many things as I want as I earn decent and don't want them to spend their money. Also, with the risk of online payment frauds, I knew if OTP based payment is enabled, then they may fall victim to it.

Only way for them to do online payment currently is via debit card and I taught him that, so dad carries it if he wants to pay online.

My sister says that it is better for them to have UPI enabled and dad agrees.

I am suggesting an alternate, that dad open a separate bank account, I keep small amount in it (< 50k) and setup Paytm Wallet and UPI on it. So the risk of scam is restricted to just that account but dad doesn't want to maintain a new account/ATM card as he is comfortable with his SBI account and wants UPI on it. But it is his primary account with savings/FD in it so I don't want to risk it.

So, AITK for not letting them use UPI/Online Payments and order Blinkit/Amazon themselves? Shall I take a leap of faith?

I have done FDs of 5L on my senior citizen mom's name as she was getting a good interest rate in AU bank (7.9%). (We have her alternate number which I keep with me, so I can manage the account).

I have separate investments/SIP on my name but due to market unpredictability, I want almost 1/3rd investment in FD.

Till now, we have not filed ITR for her (she didn't have a PAN card until last year).

I want to understand that if I create FDs for more amount, what are the legal/audit implications.

Also how safe AU bank is to keep FDs. Shall I get couple other bank account opened to break the remaining FDs in few other banks to avoid bank liquidity risks?

M35. None of my frinds are following FIFA WC. If anyone interested in chats about matches, results and predictions, then let me know or DM.

PS: I dont watch European league matches much just aware about few players, so not an expert. But following FIFA WC since long and watch as much as I can.

I want to share my experience and also ask a question. Question is, how long are late payments visible on CIBIL report and even if they are, do they have any impact after 3 years.

My experience about how missed ECS and my carelessness caused my CIBIL to drop from 810 to 740 and how I built it back to 801.

Incident:

I had CIBIL of 810 before 2023. Then I got a car loan and after few months, I switched companies and the new company mandated having a salary account in a specific bank. As old bank account was just for salary, I thought I would close it later.

So I went it bank (Bank of India) and told them to cancel my from old bank ECS and start new bank ECS. I had finds in both my banks.

These highly efficient people stopped ECS from Bank 1, but did not start ECS from Bank 2. Hence my 4 EMIs got missed. My fault as well as I should have checked/validated, but the bank didn't even remind me that EMIs are bounced, which other banks are so fast to do.

Came to know after 4 months when they realized. I check my CIBIL and it dropped to 740 and my home loan interest increase.

I went to BOI asking why was ECS not started. Surprisingly the person who took my document and form, was transferred and other parson there refused to take any accountibility. The branch manager told me that they would mail CIBIL and accept their fault as well, but he said that CIBIL would probably reject it as ideally I should have maintained the EMI amounts in my BOI saving account (which I didn't believe).

Long story short, nothing happened and I immediately closed my car loan by paying in full.

3 years later, my CIBIL finally crosses 800. However I still see late payment of 2023 on my report.

What I did to improve.

My older CC had limit is 1.6L/month. I took another card with 2.5L limit and started preparing the amounts before bill generation. So my credit utilisation is less than 5%. Also closed the older car loan by preparing (not sure if they helped).