Category: Businesss

Kotak Mahindra Bank offering Pathetic Service on Foreign Inward Remittance

Posted by on February 6, 2014 | Comments

While setting up another new venture during November 2012, a touch decision for the India office was to choose the right banking partner to handle the most important thing for an IT business. Yes you guessed it, I am referring to foreign inward remittance transaction. i had shortlisted few banks

1. State Bank of India

2. ING Vyasya Bank

3. ICICI Bank

3. Kotak Mahindra Bank

4. HDFC Bank

5. Axis Bank

Out of the list, I already had test of State Bank of India and ING Vyasya Bank. SBI provided wonderful exchange rate in foreign inward remittance while ING was almost close and surprisingly higher at times but I had to strike these two off for two different reasons. SBI was taking too long to credit funds and ING Vyasya had too little facilities.

Striking off ICICI was easy as they were offering pathetic exchange rate and I did not want to loose money in Forex conversion.

Before I could put my hands on HDFC and Axis Bank, I was approached by a very friendly officer from Kotak Mahindra Bank, Bhubaneswar. He was nice and, explained me the benefits of dealing with Kotak. I was also surprised to know that Kotak Bank offered interest in a current account (business checking account as called in USA). They also promised that I would get higher exchange rate per USD.

This much was enough to convince me and I went with Kotak by opening an account with Kotak Mahindra Bank.

The first surprise I received when I received the first inward remittance from USA. Yes the conversion rate was lower than SBI. But wait, it was not too low either and the transfer was really quick. About 24 hours to have funds in my account. I also get the FIRC automatically in my inbox. Wonderful! I am very happy now.

Bank staff had been friendly as well until recently I faced a weird problem.

December 2013 and January 2014, I had received 2 different inward remittance and to my surprise both were credited right in the morning of the night when it was sent from USA. WOW that is reallyfast. But wait! Here is a double surprise for me. The transaction has hit my account not as a Foreign Inward Remittance but as a local NEFT transaction. I also see a PATHETICALLY LOW conversion rate. No fee charged for inward remittance though but I can’t find FIRC in my inbox.

I thought may be a one time mistake and thought I can manage as its a single NEFT. I must mention here that we software exporters want foreign inward remittance only along with FIRC (Foreign Inward Remittance Certificate) to stay eligible for service tax exemption.

We received another transfer from USA in January and the same story is repeated. NEFT and not FIRC. What’s happening? Called them up to check this and I was told that, they received the funds in INR which is why its showing as NEFT. WHAT? Bank of America did like this?

Called up Bank of America to find out the reason and they, after checking the record, confirmed that it was sending USD only via wire in the method which they have been following since November 2012 without any change in the remittance system.

Now this makes it clear that something is wrong at Kotak’s end. I don’t want the same story to be repeated in February as well. Kept the transfer on hold and followed up Kotak customer service to find a solution. Here all the frustration starts.

Now here is something I am doing everyday

1. Call Kotak and explain the situation all from the scratch as he/she will have no clue about the complaint lodged the previous day.

2. They try to explain that I dont need to worry as the funds are credited. I then need to explain them that its NEFT and not Inward Remittance and that I don’t get any FIRC and that I have lost a lot on Forex as well.

3. They would then escalate to a senior and I need to explain everything all over again with patience and the senior would promise that by end of the day, I would receive a call bank.

4. I explain them the importance of the situation and inform them that I have put the next remittance on hold for this reason and would wan to continue once this is solved.

The same story is being repeated every day since last 3 days but with same repeat answer from them but no call back from any senior fellow from Kotak.

I am now suspecting that they are playing some game to steal the Forex money by showing it as NEFT. I am still in dark and have no clue about WHY two foreign inward transactions were shown as NEFT and what is going to happen with future transactions.

I have also started talking to Axis Bank which was recommended by a friend claiming that they provide higher exchange rate and they they credit inward remittance in few hours only which is amazing.

I am still waiting for Kotak to revert bank with a solution. But if I still don’t get a solution then the only option I would be left with is to change my bank and wind up all relationship with Kotak.



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PayPal India receiving limit increased to US$10000 – Will Indian Export Business get benefited?

Posted by on July 29, 2013 | Comments

June 29th 2013 is a celebration day for Indian PayPal merchants, but will they be really happy about it?

PayPal has been bread and butter for every micro, small and mid sized business that used to export good or service. Widely available across the globe. Their website lists worldwide countries that their network supports. Business were happy until RBI placed restriction on PayPal receiving limits after making business suffer for months when their money on PayPal balance got stuck during transition of norms.

A good news for Indian Merchants is published by RBI vide their notification RBI/2012-13/528 speaking about Processing and Settlement of Export related receipts facilitated by Online Payment Gateways – Enhancement of the value of transaction dated  June 11th 2013. This made PayPal increase the receiving limit to USD10,000 per transaction.

PayPal issues the following email to its Indian Merchant account holders


Congratulations! We are pleased to inform you that PayPal merchants in India can now receive up to USD 10,000 per transaction for export-related payments for goods and services, effective immediately.

With the increased transaction limit, you can:

• Accept credit and debit card payments anytime, anywhere on your website, mobile, eBay listing, or simply by sending an invoice.
• Increase your global presence by selling to over 132 million active PayPal users in 193 markets around the world, accepting payments in up to 25 currencies.
• Leverage on our industry-leading fraud prevention and risk management systems to keep your business secure and minimize losses.

To receive export-related payments, merchants must confirm their email address, and add a Permanent Account Number (PAN), Purpose Code and local bank account to their PayPal Account. If you have any queries, please log in to your PayPal Account and click on the ‘Contact Us’ button.

We look forward to continuing to support your export business through our global online payment platform.

Happy selling!

The PayPal Team

Screen Shot 2013-07-29 at 2.17.43 PM

PayPal was forced to restrict the limit by RBI which created heartbreaking situation for its customers in India but this move will certainly be welcomed by the merchants and is going help larger merchants whose per transaction limit need is larger but still up to USD10,000.

This restriction removal with weaker rupee can bring additional benefit to the merchants.


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PayPal in India starts offering Great Conversion Rate to Merchants

Posted by on May 24, 2013 | Comments

PayPal, the global leader payment gateway, which was acquired by eBay in October 3, 2002 has been helping small to large merchants, freelancers and small business owners throughout the world. Everyone knows how easy and convenient it is, to use PayPal as a payment gateway. Developers in my company always speak aloud about this gateway which is feature rich and is easiest to integrate on any website and comes with many up-front utilities and above that it costs nothing to have one and it charges a fee only when you receive a payment. Except a few countries where PayPal do not offer its service, it’s a life saver, specifically for small business owners and freelancers doing business globally.

PayPal was running smooth in India for Indian merchants until RBI imposed restrictions and norms on its activity after which PAN number and purpose code became compulsory and merchants faced a lot of hassle during the transition. It also stopped allowing withdrawal of funds to a USA Bank account which used to be allowed earlier. Despite these things, it started running smoothly but merchants kept on looking for alternatives to PayPal and the primary reason for this was PayPal’s woefully low conversion rate. PayPal in India would always convert your bank withdrawal to Indian Currency and would give its own conversion rate which on an average is always a rupee less than the average bank rate of conversion. If we consider that a merchant brings in $10000 a month considering market rate to be Rs55/- per US$ then he would loose Rs10000/- as a minimum per month due to poor conversion rate. PayPal always remained blind to this issue and continued using its partner bank named Citi Bank for the withdrawal process.

I have therefore always being avoiding PayPal and have been sending money directly from my USA business to India business via bank wire. But TODAY was a big day when I tried using the Indian Paypal account and was surprised or rather shocked to see the conversion rate while sending the money withdrawal request. The rate was Rs53.898 per US Dollar which was higher than the value offered by SBI, the rates of SBI are given below:


SBI Rate     PayPal Rate



If you notice, the rate offered by SBI is much lower and is coming to PayPal level only if you send a minimum of $7000 but again this rate is applicable only when you are sending from USA as a personal payment. For business wire remittance, you always get the lowest listed rate from SBI. Earlier, PayPal rate used to be a minimum of a rupee and sometimes up to two less. Now this is a BIG STEP by PayPal. I have no clue whether the credit goes to PayPal or to its partner CitiBank India, but ultimately the merchants are going to be benefited with this.

I hope if the trend continues and PayPal continues to offer  great rates then I am sure this will attract more and more PayPal users. This in turn, will attract more Indian merchants who deal globally as well as locally. It may still take some time for PayPal to offer INR as a selling currency to its Indian merchants, but nevertheless, this great move of offering better Forex conversation rate will be warmly welcomed by Indian Merchants and will result in increased number of merchants using PayPal as their preferred payment gateway.

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Americanrepro – A good, impressive professional package!!

Posted by on August 22, 2012 | Comments

The website belongs to Orlando based printing company that offers color printing services to thousands of customers. The importance of printing services in making promotional products for advertising a business has been accepted by one and all. The company specializes in large format printing which is used in printing flyers, banners etc. The quality service provided by the company has helped many enterprises succeed in their marketing campaign. It also provides printing solutions for your marketing campaign like, printing of postcards, informative booklets, pamphlets, brochures etc.


The website can be easily searched on the internet by search terms, “Large Format Printing Orlando”, “Flyer Printing Orlando” or “Banner Printing Orlando”. The website has been designed in a very systematic manner and it reflects that essential professional look and feel. The Web Pages have great content and exclusive images. Navigation is really easy making any user to use the facilities on the website without any hassle. The website has an aesthetic feel with appropriate usage of colors and graphics.


A small introduction to the company is provided on the bottom right side of the homepage which very well highlights the capabilities and competence of the company in delivering their services. The website has tools that will help you find right solution in printing and color copy. This helps you to make informed decisions when looking for printing solutions. Customer testimonials can be viewed on the homepage which is clearly a great marketing tactic as the section has all positive feedbacks which will help the company put a good impression on the first time comers.


Services menu displays the services offered by the company classified in different categories. So, if you are looking for a service then look for it in the category list and clicking on the link will take you to the page where the services coming under that category will be displayed with complete information. For example, if you click on “promotional products” link, you will land on a page where different kinds of promotional products will be displayed like, key chains, mugs etc. The company specializes in making personalized products for a brand or event promotion.


Equipment section gives you information about the latest and up-to-date printing equipment used by the company. A brief introduction of the equipment has been included in the section. Also added are, the pictures of the tools and how they are used in delivering quality services at affordable prices. “Career” page gives any interested individual about the career opportunities in the company. Employment application can also be downloaded from the website itself. The company also offers online services to its clients.


It has some real quality content which acts like a source to fetch valuable information on printing technologies. However, they should consider adding a blog section as it can work wonders to it.


In short, the website stands great on quality standards and it speaks only about business. It is quite engaging and interactive. You’ll definitely find yourself hooked to it for sure.

Marketing File – Simply direct marketing

Posted by on August 13, 2012 | Comments

Now-a-days, the new advertising agenda is direct marketing. It means direct communication with consumers, who can easily interact and understand the brand. Marketing file is an agency which deals with all kinds of direct marketing services. It gives a range of services, including mail, telephonic, and fax marketing. The official website page of the company is It is the right website for those who are looking for marketing services.

The website looks simple, nice and conveys the information well. One can find texts and links easily. The bold captions give a summary about the website. Social networking links are present on the homepage, so that the visitors can directly like their business page. The company name and tag line appear on the top of the page which is indeed a good aspect to let the visitors know about the company. This type of branding is necessary for any business services. The home page of the website is divided into sections, viz. welcome sections, login section and new user information sections. Web pages open up quickly due to the absence of graphics. And through links, all the pages are connected effectively.

I am impressed by their direct promotional concept, which supplies quality business. They are providing direct high-quality campaign from well-known and reliable sources. It is a direct provider of online source of email marketing company in all over Europe. Customers will have access to their professional services like; no minimum orders, immediate purchase, download, free counts, 15business and consumer lists each. In spite of the regular services, it has other services too. There is a help cell showing in the middle of the home page which helps you know more about the web page while you pressed “Yes Please” button. Some key words are highlighted in the page.

This direct marketing agency provides regular news to make their campaigns successful. Although, the marketing file is a direct-marketing agency but it gives data online and offline. The best thing about the company is you can run counts without any charge, any minimum orders, but you have to pay only for the data as you need. For immediate download business, data is available, but there’s a simple authorisation process for consumer data. Unique alerting service is available, which checks your numbers each day. Their online services are very fast so they are providing other cleaning and suppression services to the customers. Companies those are not interested to receive junk calls or faxes they can register with Telephonic Preference Services and Fax Preference Services through this company. Its web enabled plug in helps to verify numbers against the latest file.

At the most competitive prices, marketing file gives you an ample choice of data as it is one of the Europe’s leading online suppliers of marketing data. It offers a number of other marketing services, including e-mail broadcasting, data enhancement, profiling and segmentation. They can easily and quickly gives suitable data according to the requirement, as the company has years of database experience and great suite of tools.

Keyrs – A Key of your equity problem

Posted by on August 13, 2012 | Comments

Ongoing payment with a fixed total annual amount is called annuity. In general, annuities have never been admired by financial advisers. Equity release enables you to release the cash united with your property, without any monthly repayments. In the UK market, there are different types of equity release schemes available with their own benefits and drawbacks. Before going to draw any conclusion, it’s good to seek expert equity release advice on distinct plans. “Key retirement solution” is one of the best equity release specialists in UK. is the professional website of key retirement solutions for a quick and hassle-free result. They will search the complete market to find better rates than your present provider.

One can enjoy the free initial appointment of key’s equity release advisers within the comfort of your home. By an appointment, you can know more on equity release and how does it work. They can help you understand how to reduce your estate value. You can increase your retirement income by over 120%, through their expert advice. Their advisors assist you to turn your retirement fund into a higher-income pension jar for life. And the best thing is without any cost you can enjoy this service; as they receive payment from the provider chosen by you. Based on your health and lifestyle, they can search for a better pension scheme to see whether you are succeeding or not, for a higher income. As per your need, they can give you all the information to choose the right “Pension Annuity.” They can provide exclusive offers like cash back, no upfront fees and low interest rate. If you are deciding equity release as your next financial move, it is always a better thought to know different types of equity release schemes. You can do this either through this website or by requesting a free equity release guide.

As far as the website is concerned, it’s fast, simple and informative. All the necessary tabs are present in the home page like; introductory paragraph, offers, awards, and latest news. The top-most frame reflects the quality of the website. There is a “service tool” kit section where anybody can quickly find their exact requirement. Every links are intelligently placed on the page. I am touched by the “In touch” online magazine, and it has published 33 issues, until now. Another section is there, which asks you to follow them in a lot of social-networking sites. The website is giving one more facility that; Visitors can use their free online calculator to see how much extra they could get. By the customer reviews it is rated 9.8 out of 10.

The company is an independent advisor, and they have won over 35 industry awards, which are a great achievement in its own. They advise on the safe home income plan (SHIP) approved schemes. All their advisors are trained by an extensive training program accredited by the Institute of Financial Services’ School of Finance. The world of pensions can be complex, but you can make it simple with your right decision.

Instant Loans Direct – Provides a Real Short Term Solution to Your Economic Struggles

Posted by on August 13, 2012 | Comments

Good news for all people living in UK and those who are looking for instant payday loans, here is your solution – visit to Nowadays, expenditures go higher than income and you often need extra money in middle of the month for numerous reasons. At that crucial time, payday loans will come to your rescue in overcoming these financial problems. These loans are made available in a very short timeframe typically within 24 hours of applying this is really needed in crisis situations.

Payday loans UK will help you with the financial help you need even though many companies have turned down your loan application that happens when your credit rating is not so good due to some bad credit history. I find this payday loan process very easy and hassle free to apply. You do not need to wait long to get your loan approved and disbursed, they really process it fast. If you want to apply, all you need to do is just log on to; it only takes one to two business days from start to finish and your cash is in your hand. However, there are some minimum qualifications that need to be met in order to get payday loan approved such as you should be over 18 years, should be living in UK, have bank account here and you must be getting a regular income at least £750 per calendar month. To know more about the procedure and requirements, you can get more facts at

Instant Loans Direct understands yours short-term cash requirement that’s why they have made this process so easy, you just need to fill up an application form and you can get an instant payday loan approval and most importantly, you will get directly deposit of your payday loan funds into your bank account. I have to say, this process is as faster as you can think of it. If you have any doubts or need additional information then there is an email support which is 24/7 available.

As far as this website’s design and look is concerned, I would say, it’s a decent website, but probably not up to my expectation. An issue what I see here is that there are so many things on homepage which makes it look, much cluttered. Also, I didn’t like much the colours/font they used on the web pages which could have been made more appealing to the site visitor/prospective customers. Now let me talk about what I liked most is their FAQ section, this is surely useful especially for the first time customers and interestingly, you can also compare here between Instant Loans Direct and other payday loan lenders and make your decision from where you want to avail your payday loan from.

Although, Instant Loans Direct is relatively new in this business, however they have grown rapidly recently. They assure you that there will be no hidden costs or charges whatsoever as they believe in full transparency and fairness. They disclose every bit of information upfront of you. If take a loan via Instant Loans Direct, you will find how convenient it would be getting payday loan.

Instant Loans Direct believes payday loan provides a real short term solution to your economic struggles, that’s why they offer you online payday loans. This is easy and quick money to take care of your immediate financial needs before you get your pay check. Moreover, their interest rates are so reasonable. Now you no longer have to worry about any untimely expenses that may come.

Mahnke Consulting – Caters to Small and Medium Size Contractors

Posted by on August 1, 2012 | Comments is the official web page of the consultant company, Mahnke consulting. The company is well known for its administrative consultation services to USG-funded programs. The company saw the daylight in the year 1999 and since its inception; they have been doing impressive job in the field of CPSR and DCAA Audit. The company mainly caters to small and medium size contractors who do not have enough resources to handle big projects. comes helps them in dealing with a project. They offer valuable suggestion at each stage of the project right from project cost accounting, procurement, Incurred Cost Submission, contract administration to customer audits. Their consultants implement the acquired skills received from big firms in the projects dealt by smaller contractors to fit their smaller budget efficiently.

The website appeared very simple to me as there is hardly any usage of graphics or colors. The website only serves the purpose of a medium to provide information related to their consultation services. The introduction to the company has been given under two different headers. First is the “Company profile” that tell us about the company and the second is “our website” which defines the purpose of the website. There are of six menus on the left of the homepage. Homepage looks neat with only a few contents and the menus. However, I really didn’t find any attractor that would bind your attention. It may appear to you like a text book.

However, the website downloads fast since there is not much display of photos or graphics. All menus are strategically placed and they can be easily found. Also, the links are provided in each and every page to help you navigate through the website easily. All menus, buttons and links are working fine which has made navigation really easier. There are no broken links and all the pages are in tandem with each other. Logo of the firm appears right on the top left of the homepage which gives the knowledge whose website it is and what it has to offer. All landing pages are well connected to one another via links.

Content wise, I liked the “principal” page which basically gives the bio data of the company head Linda Mahnke, her professional accomplishments and work experience in the field of CPA. “Training” page gives information about the various training programs imparted by the firm. I liked the page “Resources” as it almost like an ocean of valuable information for new entrepreneurs. Resources page has several useful external links. The content which makes me appreciable is “budgeting in a job cost environment”, where every aspect of job costing has been covered nicely. I would recommend them to bring all the links appearing on the top of “Resources” page on the top of the homepage. I would also like them to add a blog section and a social networking block for the customers to connect with the company.

In simple words, the website is an average player in the lot of thousand other websites.


Strong Man Movers LLC – A package of all essential features!

Posted by on August 1, 2012 | Comments

Switching ones base to an all new place, be it an office or a house needs too much of effort and time. Strongman Movers is a name that has years of experience in making this job hassle free and joyful for you by offering best quality moving services. Strongman Movers is listed among one of the best moving companies in Orlando fl. This is their official page, which can be found easily on search engine display results by the search term “Orlando movers”. Providing various moving services is their forte and they have been doing it for the last 20 yrs. The website stands here to promote their services and to let people look for their services online.

A mere glance will let you know how strategically the website has been planned, designed and structured. I’ve found almost all the standard features here that make a successful website. The site is a work of art and meets all professional requirements. The homepage downloads fast and it can be accessed through any available browser today. The format is easy and soothing to your eyes. One gets to see an intelligent usage of graphics that has made it look catchy. All the pages have a similar or uniform look. Menus and headers are placed at correct positions with sufficient number of links making the navigation easy. Introductory paragraph is informative, giving a brief intro to company, the purpose of the website and what to look forward to. All menus and buttons are working perfectly fine facilitating the ease of use.

Content wise, I liked their “About us” page that covers all necessary information on the company. I also liked their “testimonials” section where some of their past customers have addressed their experience working with the company. “Your move” page has essential tips and the things to take care for people who are planning to move. It has detailed description of all the necessary steps to take before as well as in the course of movement. The “instant quote” block on the homepage lets you ask for a quote easily by filling out the details of the items to be moved, the place from where you’re are moving and the final destination. Their service has been categorized in different plans different types of moving like, local moving, long distance moving or commercial moving. Each package has been explained well with detailed information. The company assures you to offer the most competent quote to suits your budget. However, Commercial quotes are not available on the website. One has to make inquiries regarding the same at the given contact phone number. I would have appreciated more if they also had included a social networking widget. This feature is a must have in any web page that allows your customer to interact with you.

In short, the website scores well on the standards. Also, there are no advertisements or external links and as they to the main subject. It is a good performer and I’ll give it 4.5 out of 5.


Discount Timeshare Sales – Offers Timeshares at Discount Prices!!

Posted by on August 1, 2012 | Comments

Property investment is a full- fledged industry these days which can promise you higher returns on investment. This place is of interest to all those who are interested in either buying or selling timeshares. is an official page of International Property Professionals, Inc. They are an integral part of Timeshare Resale Brokers Association. As we all know that it is best to sell or purchase timeshares through a Licensed Real Estate Agent since LTRBA brokers are a trustworthy source for timeshare consumers. The website owners are licensed real estate agents who offer timeshares at discount prices. They guide you on both buying and selling timeshares. The website can be easily found on the internet by search terms “buy a timeshare” or “sell my timeshare”.

Homepage downloads really fast and it’s compatible to all the browsers. Also, you do not need to download software to view it. The homepage has been kept simple with an introductory paragraph, menus and display photos. Introductory paragraph throws light on the matter, right from what is timeshare and why and how people buy timeshares. It also gives a detailed and elaborate description of the company. Through informative, I would have liked it more if the introductory paragraph had been kept brief with only a little introduction to the company and its services. An “about us” section could have served the purpose well which is common to see in most of the sites. A visitor may find it uninteresting and time consuming to scroll down and down to read the entire content and then discover the actual purpose of the website and what they have to offer. Also, there are many sections which can be accessed only by the members. One needs to register himself to the site and then he’ll be allowed to view the whole content. Only a very interested user would like to do the same. Whereas, it will be an instant switch off for any random visitor.

On the plus side, the homepage has been designed well. The usage of photos lets you know what the website is all about. “Post a free listing” button right on the homepage enables its members to post a listing for free. “Timeshare resources” page has a list of valuable links to checkout for interested people. Log in is easy for its members with a log in block placed right on the top right of the homepage. I liked their “property directory” page as it lets you know about all the available properties in different regions. One can easily locate both facebook and twitter widgets right on the top right of the homepage. There is no flashy advertisement which is indeed a welcoming change and you can wholly concentrate on the matter.

In short, the website is strictly okay with so many limitations. They can work out a better plan to design the site adding all the necessary features that would lure more prospective customers for their business.


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