* I had applied for a credit card from the bank in which I have a savings account. But they have rejected my application. What could be the reason behind such action?
Before issuing credit cards or for that matter any credit facilities, banks obtain the credit report of the applicant from the Credit Information Bureau of India Ltd (CIBIL). A bank can reject the credit card application if the applicant has a bad credit record or inadequate income. You are entitled to know the reason for the rejection of your application from the bank. Ask for a formal rejection letter and if the bank refuses, then you can file a complaint to the banking ombudsman at bankingombudsman.rbi.org.in. You can get a copy of your credit report from CIBIL using this link www.cibil.com/ credit-score to download the form.

* I am a 44-year-old businessman, with an annual inco-me of Rs 3.5 lakh. I have a life insurance cover of Rs 12 lakh. Please tell me if this cover is enough; if not please suggest me an action plan.
Considering your age and annual income, you need to take a life cover of at least 12 times of your annual income — i.e Rs 42 lakh. So you need to take an additional life cover worth Rs 30 lakh. A term insurance policy for a 44-year-old non-smoker for 25-year term — if bought online — would be cost you upwards of Rs 11,289.

I have been investing in Reliance mutual fund growth SIP since last three years. The return is not satisfactory. I can continue my contribution to SIP for the next three to five years. Is it advisable to continue my SIP or withdraw in loss?
Never stop an SIP when the market is down. Generally, investments made in the downturn reduce your average cost and produces excellent returns over the long term. So you should definitely continue the SIP though you can review whether the fund chosen by you is still appropriate or not. Reliance MF-Growth is a mid-cap fund. By looking into the fund performance, it has not beaten its respective benchmark returns.