Our Core Areas

Unreasonable Bank Charges

Banks have taken the attitude that customers must pay for every banking service, despite the fact that banks earn a good spread on their deposits. The steady increase in quantum and range of services that are now charged has led to growing sense of frustration that banks have ganged-up against dis-aggregated customers.

That customers are unaware of the high charges debited from their deposits is evident from reports that several thousand crore rupees are collected for failure to maintain average minimum balances.

Depositors are lured with the promise of several free frills and locked into a relationship through direct debits of loans, credit card payments, systematic investment plans and electronic mandates to receive dividends and pay utility bills.

Our work on this core area has been through online petitions, social media campaigns (tweet morcha), memorandums and much more. We have also filed a public interest litigation (PIL) with the Supreme Court seeking a response from the Reserve Bank of India (RBI) on the excess interest rates being charged to loan customers. You can find access to our memorandums and read more about the impact we have made in this area on the site.

We also conduct one to one counseling on banking and credit related issues every Friday between 4-6pm at our Office in Dadar. For those who are not available in Mumbai, we have setup a Credit Helpline, where you can post queries online.

We have conducted several seminars to educate people on these charges and what to look out for while dealing with banks and their Relationship Managers. Below are some links to these seminars, you can find more such videos on the site.

Insurance Mis-selling

Mis-selling by institutions like insurance companies is nothing new. However, with more and more financial institutions entering the insurance market, customers are being lured and sometimes even forced to buy co-branded products. In addition to helping those who have felt cheated with counseling, we have also petitioned regulatory bodies such as the Insurance Regulatory and Development Authority (IRDA) and the government to bring about positive change in existing systems.

Recently we had approached the Supreme Court with a public interest litigation (PIL) against LIC’s Jeevan Saral. You will find access to our memorandums and read more about the impact we have made on the site.

We intend to pursue this matter through other forums to help people get back their money.

For insurance related matters, we also conduct one to one counseling sessions at our Knowledge Centre on Thursday evenings between 5-7pm.

Real Estate, Housing & Property Matters

Over the years through our Legal Helpline and our Daily Counseling Clinics we have seen a large number of queries concerning property related matters. The wide range of issues that we receive are alarming and indicative of the current status of real estate in India. At Moneylife Foundation, we are fortunate to have experts such as Shirish Shanbhag, Adv Avinash Phatak, Vinod Sampat and others to share their valuable knowledge and expertise in this field. We have also conducted several awareness programmes on property related matters for the benefit of consumers.

In recent years, Moneylife Foundation has worked on a research report on Retirement Homes in India. We coordinated with the government in releasing Guidelines for Regulation of Retirement Homes in India and are now hoping to have them implemented across states, starting with Maharashtra.

At the moment, we are working on a research report to evaluate the efficacy of the Real Estate (Regulation and Development) Act (RERA) across states in India

Real Estate, Housing & Property Matters

Our RTI Centre was established in the year 2017 with the generous support of Dinesh Thakur, well-known whistleblower of Ranbaxy. The primary aim of the centre has been to promote transparency and good governance through RTI seminars, events, symposiums, panel discussions and workshops. As part of the centre, we are also focused on helping common citizens understand their rights, help them file RTI applications and also hold the government accountable. To this effect, we have conducted over 65 sessions with the assistance of 45 speakers since 2017.

The RTI Centre now has a well established eco-system of activists, experts, lawyers, journalists, information officers and concerned citizens who are working towards the cause of achieving a more transparent and a corruption-free government.

Under the RTI Centre, we also conduct one to one counseling for all RTI related matters on Wednesdays, with the assistance of retired Central Information Commissioner Shailesh Gandhi. These guidance sessions are organised with the aim of educating citizens while at the same time also assisting them in resolving any personal grievances they might have.

Our Helplines & Counseling Sessions

Our work on the aforementioned core areas at times involves the counseling and advice that is provided through our two helplines - Legal Helpline and Credit Helpline. Do visit the sites to know more and to post your query on the helpline.

We also conduct one to one counseling sessions for various issues such as property related matters, right to information, consumer issues, insurance, banking and credit related issues, and more. These ‘Daily Clinics’ are conducted in the evenings on designated days throughout the week.

Please call our landline no.(022) 4920 5000 to take an appointment for any of the ‘Daily Clinics’.