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USE LIMON FOR CANCER REMIDI
Just cut 2-3 thin slices of lemon in a cup/container and add drinking
water. The water will become "alkaline-water", drink for the whole day,
just by adding drinking water. Take it as drinking water every day, and it
is good for everybody.
The reason. The surprising benefits of lemon!
Institute of Health Sciences, 819 N. L.L.C. Charles Street Baltimore , MD
1201.
This is the latest in medicine, effective for cancer!
Read carefully & you can be the judge yourself.
Lemon (Citrus) is a miraculous product to kill cancer cells. It is 10,000
times stronger than chemotherapy.
Why do we not know about that? Because there are laboratories interested in
making a synthetic version that will bring them huge profits. You can now
help a friend in need by letting him/her know that lemon juice is
beneficial in preventing the disease. Its taste is pleasant and it does not
produce the horrific effects of chemotherapy. How many people will die
while this closely guarded secret is kept, so as not to jeopardize the
beneficial multimillionaires large corporations? As you know, the lemon
tree is known for its varieties of lemons and limes. You can eat the fruit
in different ways: you can eat the pulp, juice press, prepare drinks,
sorbets, pastries, etc... It is credited with many virtues, but the most
interesting is the effect it produces on cysts and tumors. This plant is a
proven remedy against cancers of all types. Some say it is very useful in
all variants of cancer. It is considered also as an anti microbial spectrum
against bacterial infections and fungi, effective against internal
parasites and worms, it regulates blood pressure which is too high and
an antidepressant,
combats stress and nervous disorders.
The source of this information is fascinating: it comes from one of the
largest drug manufacturers in the world, says that after more than 20
laboratory tests since 1970, the extracts revealed that: It destroys the
malignant cells in 12 cancers,
including colon, breast, prostate, lung and pancreas ... The compounds of
this tree showed 10,000 times better than the product Adriamycin, a drug
normally used chemotherapeutic in the world, slowing the growth of cancer
cells. And what is even more astonishing: this type of therapy with lemon
extract only destroys malignant cancer cells and it does not affect healthy
cells.
*Thanx,*
water. The water will become "alkaline-water", drink for the whole day,
just by adding drinking water. Take it as drinking water every day, and it
is good for everybody.
The reason. The surprising benefits of lemon!
Institute of Health Sciences, 819 N. L.L.C. Charles Street Baltimore , MD
1201.
This is the latest in medicine, effective for cancer!
Read carefully & you can be the judge yourself.
Lemon (Citrus) is a miraculous product to kill cancer cells. It is 10,000
times stronger than chemotherapy.
Why do we not know about that? Because there are laboratories interested in
making a synthetic version that will bring them huge profits. You can now
help a friend in need by letting him/her know that lemon juice is
beneficial in preventing the disease. Its taste is pleasant and it does not
produce the horrific effects of chemotherapy. How many people will die
while this closely guarded secret is kept, so as not to jeopardize the
beneficial multimillionaires large corporations? As you know, the lemon
tree is known for its varieties of lemons and limes. You can eat the fruit
in different ways: you can eat the pulp, juice press, prepare drinks,
sorbets, pastries, etc... It is credited with many virtues, but the most
interesting is the effect it produces on cysts and tumors. This plant is a
proven remedy against cancers of all types. Some say it is very useful in
all variants of cancer. It is considered also as an anti microbial spectrum
against bacterial infections and fungi, effective against internal
parasites and worms, it regulates blood pressure which is too high and
an antidepressant,
combats stress and nervous disorders.
The source of this information is fascinating: it comes from one of the
largest drug manufacturers in the world, says that after more than 20
laboratory tests since 1970, the extracts revealed that: It destroys the
malignant cells in 12 cancers,
including colon, breast, prostate, lung and pancreas ... The compounds of
this tree showed 10,000 times better than the product Adriamycin, a drug
normally used chemotherapeutic in the world, slowing the growth of cancer
cells. And what is even more astonishing: this type of therapy with lemon
extract only destroys malignant cancer cells and it does not affect healthy
cells.
*Thanx,*
Indians Are Better Off than Americans
By SHEFALI ANAND
This July 4, Americans will have more than just their independence to celebrate – if all goes well, they will soon have a stronger financial system which emphasizes consumer protection and reduces risky investing by Wall Street thanks to a new law.
But the recent economic downturn has shown that individual Americans, too, will have to learn something about financial prudence. For that, they could look to the world's largest democracy -- India.
Shefali Anand
A recent study by economists at the Federal Reserve Bank of Chicago found that Indians are more focused on education and savings than Americans. (The study looked at people in the top third of India's economic class.) Among Indians who responded to a basic survey of financial literacy, 80% got the right answers, while in a comparable study in the U.S., only 60% of Americans got the answers right.
At the risk of making my American friends a little peeved, I decided to use this opportunity to look at ways in which Indians are better off than Americans and how we can keep it that way.
Savers…No, Huge Savers!
We have always been raised to save but did you know that on average Indians are saving as much as 62% of their salary?
Those are the findings of a recent survey of 2,500 individuals or families conducted by financial website InvestmentYogi.com. The data was analyzed by Sumit Agarwal, a senior financial economist at the Federal Reserve Bank of Chicago and a visiting faculty member at the Indian School of Business in Hyderabad.
"Because there is no social safety network in India…you have to save on your own," says Mr. Agarwal.
In contrast, the typical American saves anywhere from 10% of his salary to negative 5% (meaning he or she is in debt), says Mr. Agarwal. Americans feel they can count on government-provided social security, healthcare and unemployment benefits so they don't worry about saving for most of their lives.
But when the time comes, they often find that these government benefits are not enough maintain their existing standard of living. "Empirical evidence shows that people's consumption drops at retirement," says Mr. Agarwal.
While he has not seen comparable data in India, he suspects that isn't the case in India because of the high savings and support of the extended family. However, as nuclear families become more and more common in India, it's important that we don't lose sight of the need to save.
Low Debt
In India, there's a saying: Don't stretch your legs more than the length of your sheet. We tend to follow this rule pretty religiously, by sticking within our means.
"It's almost taboo to have a loan on your personal self," says Puneet Matta, head of wealth management for Credit Suisse in India.
That mentality has been changing in recent years, as more banks have been aggressively lending to individuals. Mr. Agarwal's study found that loans taken by individuals in his sample study were primarily to buy a home or a car – arguably "good loans" because they help build assets. Meanwhile, credit card debt and personal loans, which carry steep interest rates, were a much smaller part of the individuals' overall liabilities.
In contrast, hundreds of thousands of Americans are reeling under credit card debt because they've grown up following the motto: consume today, not tomorrow. Last year, the U.S. government passed a sweeping law that restricted fees and increased transparency about costs involved in credit cards in an effort to make consumer habits more prudent.
We can hardly be complacent in India. Mr. Agarwal found that younger Indians (less than 30 years old), had debt levels that were two to three times higher than older Indians, and their default rates were also higher. While these are not at alarming rates yet, "in the future, that is something we have to be careful about," he says.
Investor-Friendly Regulator
India's capital markets regulator, the Securities & Exchange Board of India, has in recent years taken several proactive steps to make investment products friendlier for individual investors. Its boldest step came last year when it banned upfront sales commissions on mutual funds. Consumer activists in America, the largest mutual fund market in the world, have not been able to achieve this feat.
"Rest of the world is looking at India and saying, 'Wow, this is pretty ground-breaking,'" says Ariadne Horstman, a financial planner with InvestmentYogi.
Still, a lot more needs to be done. Like the rest of the world, Indian investors often get pushed into buying unsuitable products because it serves the sales agent or the financial advisers. All the more reason for us to stay alert.
Few Exotic Financial Products
So far at least, the India has not been flooded with exotic investment products of the type that have hurt thousands of individuals in the U.S.
One of the most infamous of these is the "adjustable-rate mortgage," which is a type of home loan in which the interest rates go up or down depending on changes in an index. Hundreds of thousands of Americans who had taken these loans between 2004 and 2007, when interest rates were low, were unable to repay their loans after rates went up in 2007. They lost their homes and contributed to the U.S. economic collapse. These consumers said they didn't understand the terms of these products.
The typical Indian so far is exposed to mostly traditional investments, like stocks, bonds, gold etc., and banks in general have been prudent about their loans products. But as Wall Street firms make their way to India, and competition increases domestically, it's only a matter of time before exotic financial products are made available to us. When that happens, try to avoid the ones that can explode.
In the meantime, I'm looking forward to hearing another type of explosion (on YouTube?) – July 4 fireworks!
Write to Shefali Anand at shefali.anand@wsj.com
This July 4, Americans will have more than just their independence to celebrate – if all goes well, they will soon have a stronger financial system which emphasizes consumer protection and reduces risky investing by Wall Street thanks to a new law.
But the recent economic downturn has shown that individual Americans, too, will have to learn something about financial prudence. For that, they could look to the world's largest democracy -- India.
Shefali Anand
A recent study by economists at the Federal Reserve Bank of Chicago found that Indians are more focused on education and savings than Americans. (The study looked at people in the top third of India's economic class.) Among Indians who responded to a basic survey of financial literacy, 80% got the right answers, while in a comparable study in the U.S., only 60% of Americans got the answers right.
At the risk of making my American friends a little peeved, I decided to use this opportunity to look at ways in which Indians are better off than Americans and how we can keep it that way.
Savers…No, Huge Savers!
We have always been raised to save but did you know that on average Indians are saving as much as 62% of their salary?
Those are the findings of a recent survey of 2,500 individuals or families conducted by financial website InvestmentYogi.com. The data was analyzed by Sumit Agarwal, a senior financial economist at the Federal Reserve Bank of Chicago and a visiting faculty member at the Indian School of Business in Hyderabad.
"Because there is no social safety network in India…you have to save on your own," says Mr. Agarwal.
In contrast, the typical American saves anywhere from 10% of his salary to negative 5% (meaning he or she is in debt), says Mr. Agarwal. Americans feel they can count on government-provided social security, healthcare and unemployment benefits so they don't worry about saving for most of their lives.
But when the time comes, they often find that these government benefits are not enough maintain their existing standard of living. "Empirical evidence shows that people's consumption drops at retirement," says Mr. Agarwal.
While he has not seen comparable data in India, he suspects that isn't the case in India because of the high savings and support of the extended family. However, as nuclear families become more and more common in India, it's important that we don't lose sight of the need to save.
Low Debt
In India, there's a saying: Don't stretch your legs more than the length of your sheet. We tend to follow this rule pretty religiously, by sticking within our means.
"It's almost taboo to have a loan on your personal self," says Puneet Matta, head of wealth management for Credit Suisse in India.
That mentality has been changing in recent years, as more banks have been aggressively lending to individuals. Mr. Agarwal's study found that loans taken by individuals in his sample study were primarily to buy a home or a car – arguably "good loans" because they help build assets. Meanwhile, credit card debt and personal loans, which carry steep interest rates, were a much smaller part of the individuals' overall liabilities.
In contrast, hundreds of thousands of Americans are reeling under credit card debt because they've grown up following the motto: consume today, not tomorrow. Last year, the U.S. government passed a sweeping law that restricted fees and increased transparency about costs involved in credit cards in an effort to make consumer habits more prudent.
We can hardly be complacent in India. Mr. Agarwal found that younger Indians (less than 30 years old), had debt levels that were two to three times higher than older Indians, and their default rates were also higher. While these are not at alarming rates yet, "in the future, that is something we have to be careful about," he says.
Investor-Friendly Regulator
India's capital markets regulator, the Securities & Exchange Board of India, has in recent years taken several proactive steps to make investment products friendlier for individual investors. Its boldest step came last year when it banned upfront sales commissions on mutual funds. Consumer activists in America, the largest mutual fund market in the world, have not been able to achieve this feat.
"Rest of the world is looking at India and saying, 'Wow, this is pretty ground-breaking,'" says Ariadne Horstman, a financial planner with InvestmentYogi.
Still, a lot more needs to be done. Like the rest of the world, Indian investors often get pushed into buying unsuitable products because it serves the sales agent or the financial advisers. All the more reason for us to stay alert.
Few Exotic Financial Products
So far at least, the India has not been flooded with exotic investment products of the type that have hurt thousands of individuals in the U.S.
One of the most infamous of these is the "adjustable-rate mortgage," which is a type of home loan in which the interest rates go up or down depending on changes in an index. Hundreds of thousands of Americans who had taken these loans between 2004 and 2007, when interest rates were low, were unable to repay their loans after rates went up in 2007. They lost their homes and contributed to the U.S. economic collapse. These consumers said they didn't understand the terms of these products.
The typical Indian so far is exposed to mostly traditional investments, like stocks, bonds, gold etc., and banks in general have been prudent about their loans products. But as Wall Street firms make their way to India, and competition increases domestically, it's only a matter of time before exotic financial products are made available to us. When that happens, try to avoid the ones that can explode.
In the meantime, I'm looking forward to hearing another type of explosion (on YouTube?) – July 4 fireworks!
Write to Shefali Anand at shefali.anand@wsj.com
LIC shifting away from ULIPs: DK Mehrotra, LIC of India
In an interview with ET Now, DK Mehrotra, Current-In-charge Chairman, LIC of India & Chairman, LICHFL Asset Management Company Ltd, talks about LIC's FY12 investment targets. Excerpts:
ET Now: How have you seen the inflows or rather how have they been in the insurance schemes in 2011 so far, ULIP as well as non-ULIP, and what growth are you witnessing in your premium collections currently?
DK Mehrotra : ULIP sale has been definitely witnessing a slowdown since almost last September because of the new regulatory guidelines, but then we have always been trying to be very sure that we have a paradigm shift from ULIP to conventional products and today we have succeeded because our conventional products and ULIP, the ratio would be almost about 70:30 -- 70 conventional products. So we have done it. It is a good sign for any insurer, especially from a long-term perspective.
ET Now: LIC is India's biggest and largest institutional investor in Indian equities. So it is very important for us and for our viewers to get some numbers from you. How much investment is LIC planning in the remaining half of FY11 in Indian equities and then can you also give us a number for FY12? Then given the way how Indian markets have corrected in last one year, valuations are looking attractive. Historically LIC has always invested about 15% of their surplus in Indian equities. Are you looking at reworking that number?
DK Mehrotra : Last year for the entire year, we have put in about 192,000 crores into the market and today as on November or early December, we have reached about 125,000-130,000 crore. So we hope that by the end of this year also, we will be able to reach last year's figure.
ET Now: Has the finance ministry discussed with you the proposal of LIC buying government's equity in select PSUs as a way to keep the disinvestment target on track?
DK Mehrotra : Actually we have not got a proposal. As and when we get the proposal, definitely we will examine it.
ET Now: Do you think in 2012 this bear market could come to an end?
DK Mehrotra : The market is going through a little turbulence. We are waiting and watching to see how the market settles down. Then only we can talk about valuation because so many factors are coming into play today. So we are waiting and watching.
ET Now: Which sectors are you bullish on and on which ones are you more circumspect at this juncture?
DK Mehrotra : Presently we are waiting and watching the market. We have not firmed upon any particular sector. Wherever we get a good opportunity, we do enter into the market because we have our own research team working on that. So I would not be able to commit right now, which sector we are very bullish about.
ET Now: How have you seen the inflows or rather how have they been in the insurance schemes in 2011 so far, ULIP as well as non-ULIP, and what growth are you witnessing in your premium collections currently?
DK Mehrotra : ULIP sale has been definitely witnessing a slowdown since almost last September because of the new regulatory guidelines, but then we have always been trying to be very sure that we have a paradigm shift from ULIP to conventional products and today we have succeeded because our conventional products and ULIP, the ratio would be almost about 70:30 -- 70 conventional products. So we have done it. It is a good sign for any insurer, especially from a long-term perspective.ET Now: LIC is India's biggest and largest institutional investor in Indian equities. So it is very important for us and for our viewers to get some numbers from you. How much investment is LIC planning in the remaining half of FY11 in Indian equities and then can you also give us a number for FY12? Then given the way how Indian markets have corrected in last one year, valuations are looking attractive. Historically LIC has always invested about 15% of their surplus in Indian equities. Are you looking at reworking that number?
DK Mehrotra : Last year for the entire year, we have put in about 192,000 crores into the market and today as on November or early December, we have reached about 125,000-130,000 crore. So we hope that by the end of this year also, we will be able to reach last year's figure.
ET Now: Has the finance ministry discussed with you the proposal of LIC buying government's equity in select PSUs as a way to keep the disinvestment target on track?
DK Mehrotra : Actually we have not got a proposal. As and when we get the proposal, definitely we will examine it.
ET Now: Do you think in 2012 this bear market could come to an end?
DK Mehrotra : The market is going through a little turbulence. We are waiting and watching to see how the market settles down. Then only we can talk about valuation because so many factors are coming into play today. So we are waiting and watching.
ET Now: Which sectors are you bullish on and on which ones are you more circumspect at this juncture?
DK Mehrotra : Presently we are waiting and watching the market. We have not firmed upon any particular sector. Wherever we get a good opportunity, we do enter into the market because we have our own research team working on that. So I would not be able to commit right now, which sector we are very bullish about.
Irda imposes Rs 20 lakh fine on Future Generali
11 Jan, 2012, 09.20PM IST, Shilpy Sinha,ET Bureau , Mumbai: The Insurance Regulatory and Development Authority today imposed a fine of Rs 20 lakh on Future Generali Life Insurance for procuring business through unlicensed agents.
Irda in its investigation found out that unlicensed individuals have solicited business for an entity "Insurance For You (Future)" that has not been approved by the Authority as Corporate Agent.
"The Insurer's contention that the business booked by the individual agent was inadvertently categorized under corporate agency is not acceptable. The Insurer has also not been able to explain to the satisfaction of the Authority, the reasons for signing of the Agents Confidential Report by persons other than the agent," Irda said in a circular.
The regulator said this is a substantive violation where the Insurer has permitted various unlicensed individuals to solicit and procure business through Insurance For You (Future) when the entity itself was not licensed. The company is asked to pay the fine within 15 days.
Irda in its investigation found out that unlicensed individuals have solicited business for an entity "Insurance For You (Future)" that has not been approved by the Authority as Corporate Agent.
"The Insurer's contention that the business booked by the individual agent was inadvertently categorized under corporate agency is not acceptable. The Insurer has also not been able to explain to the satisfaction of the Authority, the reasons for signing of the Agents Confidential Report by persons other than the agent," Irda said in a circular.
The regulator said this is a substantive violation where the Insurer has permitted various unlicensed individuals to solicit and procure business through Insurance For You (Future) when the entity itself was not licensed. The company is asked to pay the fine within 15 days.
HDFC standered life asked topay Rs.63 lakh as damages
THIRUVANANTHAPURAM, December 24, 2011 The Hindu
The State Consumer Disputes Redressal Commission has pulled up HDFC Standard Life Insurance for trying to evade the conditions set by the Insurance Regulatory and Development Authority (IRDA) and for unfair trade practices. It has asked the insurance company to return the entire investments of one of its clients, who had taken a unit-linked insurance policy (ULIP) worth Rs.50 lakh, without any deductions and to pay compensation for deficiency of service.
The amount, which comes to nearly Rs.63 lakh, is the highest monetary compensation awarded by the State Consumer Disputes Redressal Commission ever to a consumer, in any case dealing with unfair trade practice or deficiency of service.
The complainant, E.M. Babu, of Kothamangalam, Ernakulam, is an NRI industrialist. He invested in two HDFC Unit-Linked Pension Plus Scheme policies, worth Rs.25 lakh each on March 17, 2008. He handed over copies of his passport, his visiting card, and two cheques — each for Rs.25 lakh — and affixed his signature on the blank proposal forms, which the insurance company representative assured would be taken care of.
He was told that he would get 15 days from the time of the receipt of the policy to return the same in case he was not satisfied with its terms and conditions. The cheques he had given were encashed by HDFC on March 23.
The complainant received his policy document only on May 6. But he was stunned to find that though the document was in his name, the mailing address in it was someone else's.
The said the address had not been in any of the documents he had handed over to the company. Also, HDFC had already deducted 10 per cent as service charges from his total investment, without prior information. Hence he sought a return of his investment from HDFC.
The insurance company rejected his claim and said that the policy document had already been received on April 13 in the address of one Mia Alex of Pandalam, Pathanamthitta, who, the company claimed, was the complainant's niece. In an email, HDFC informed him that the particular business of the client had been generated on a lead provided by Ms. Alex.
The complainant denied that he had any niece by the name of Mia Alex. It appeared that the business was canvassed by Ms. Alex, an air hostess, but it was logged in the name of Raghu, an agent of HDFC, as Ms. Alex did not have an IRDA licence for business consultancy. This was a violation of IRDA conditions.
Violation of norms
The opposite party, HDFC Standard Life Insurance, denied all allegations made by the complainant. It claimed that the proposal form had been filled up and signed by the complainant himself and that the company had delivered the policy on time to the address given by the complainant himself in the form. It was silent on the commission paid to Ms. Alex or how it was made out that she was the niece of the complainant.
The Commission, which examined the proposal form, found that there was substance in the complainant's argument that he had handed over a signed but blank form because many columns relating to personal facts were left unfilled in the document. It also pointed out that the insurance company could not explain how a document in the name of the complainant got mailed to some other address.
The Commission pointed out that the complainant was entitled to return the policy document and seek a refund. However, HDFC claimed that the policy had actually crossed a year and that as it was a ULIP policy and linked to the share market, the Net Asset Value (NAV) of the complainant — who had invested Rs.50 lakh — stood at only Rs.12 lakh.
The Commission, presided over by a former judge of the High Court, K.R. Udayabhanu, rejected this argument and directed HDFC to return the entire investment of Rs.50 lakh made by the complainant with seven per cent interest from the date on which the complainant's cheque had been encashed by the insurance company and Rs.10,000 as costs.
Policy document got mailed to wrong address
10% of total amount deducted as service charge
The State Consumer Disputes Redressal Commission has pulled up HDFC Standard Life Insurance for trying to evade the conditions set by the Insurance Regulatory and Development Authority (IRDA) and for unfair trade practices. It has asked the insurance company to return the entire investments of one of its clients, who had taken a unit-linked insurance policy (ULIP) worth Rs.50 lakh, without any deductions and to pay compensation for deficiency of service.
The amount, which comes to nearly Rs.63 lakh, is the highest monetary compensation awarded by the State Consumer Disputes Redressal Commission ever to a consumer, in any case dealing with unfair trade practice or deficiency of service.
The complainant, E.M. Babu, of Kothamangalam, Ernakulam, is an NRI industrialist. He invested in two HDFC Unit-Linked Pension Plus Scheme policies, worth Rs.25 lakh each on March 17, 2008. He handed over copies of his passport, his visiting card, and two cheques — each for Rs.25 lakh — and affixed his signature on the blank proposal forms, which the insurance company representative assured would be taken care of.
He was told that he would get 15 days from the time of the receipt of the policy to return the same in case he was not satisfied with its terms and conditions. The cheques he had given were encashed by HDFC on March 23.
The complainant received his policy document only on May 6. But he was stunned to find that though the document was in his name, the mailing address in it was someone else's.
The said the address had not been in any of the documents he had handed over to the company. Also, HDFC had already deducted 10 per cent as service charges from his total investment, without prior information. Hence he sought a return of his investment from HDFC.
The insurance company rejected his claim and said that the policy document had already been received on April 13 in the address of one Mia Alex of Pandalam, Pathanamthitta, who, the company claimed, was the complainant's niece. In an email, HDFC informed him that the particular business of the client had been generated on a lead provided by Ms. Alex.
The complainant denied that he had any niece by the name of Mia Alex. It appeared that the business was canvassed by Ms. Alex, an air hostess, but it was logged in the name of Raghu, an agent of HDFC, as Ms. Alex did not have an IRDA licence for business consultancy. This was a violation of IRDA conditions.
Violation of norms
The opposite party, HDFC Standard Life Insurance, denied all allegations made by the complainant. It claimed that the proposal form had been filled up and signed by the complainant himself and that the company had delivered the policy on time to the address given by the complainant himself in the form. It was silent on the commission paid to Ms. Alex or how it was made out that she was the niece of the complainant.
The Commission, which examined the proposal form, found that there was substance in the complainant's argument that he had handed over a signed but blank form because many columns relating to personal facts were left unfilled in the document. It also pointed out that the insurance company could not explain how a document in the name of the complainant got mailed to some other address.
The Commission pointed out that the complainant was entitled to return the policy document and seek a refund. However, HDFC claimed that the policy had actually crossed a year and that as it was a ULIP policy and linked to the share market, the Net Asset Value (NAV) of the complainant — who had invested Rs.50 lakh — stood at only Rs.12 lakh.
The Commission, presided over by a former judge of the High Court, K.R. Udayabhanu, rejected this argument and directed HDFC to return the entire investment of Rs.50 lakh made by the complainant with seven per cent interest from the date on which the complainant's cheque had been encashed by the insurance company and Rs.10,000 as costs.
Policy document got mailed to wrong address
10% of total amount deducted as service charge
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