CONSUMER ISSUES


Vendors claim that scanty rainfall and crop loss have resulted in lower supplies to the market, hence the increase in price. However, buyers feel that this is far from the truth and vendors are actually taking advantage of the situation to make a fast buck   The common man's...

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The silly law governing non-advocates (drawn up by the UPA government) for arguing consumer cases is being changed To regularise and regulate the procedure for permitting persons other than advocates also to appear before the consumer forums, the Central government notified a set of...

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Moneylife Digital Team 01 July 2014
The increase in rates of non-subsidised LPG and ATF accompanies the Rs1.69 a litre hike in petrol and 50 paisa a litre in diesel implemented from 1st July Price of non-subsidised cooking gas (LPG) was on Tuesday hiked by Rs16.50 per cylinder and that of jet fuel (aviation turbine...

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Moneylife Digital Team 20 May 2014
While asking the insurer to pay the accident victim's claim, the National Commission also directed Dabur India to pay an interest at 9% on Rs1.85 lakh and Rs8,000 as cost to its insured employee   The National Consumer Disputes Redressal Commission (NCDRC) has asked Oriental Insurance...

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As these examples from Moneylife Foundation’s Helpline show, the consumer has little chance of being treated fairly by companies, regulators and intermediaries Mr Mallick from Sambalpur in Orissa runs an NGO. He has 17 insurance policies, sold to him by eight banks through their...

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TruthInAdvertising.org 09 May 2014
Google, Facebook, Twitter, and AOL have launched TrustInAds.org to protect consumers from deceptive advertising on the internet Google, Facebook, Twitter, and AOL on Thursday announced the launch of TrustInAds.org, a new organization aimed at protecting consumers from deceptive...

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Moneylife Digital Team 07 May 2014
RBI has already prohibited banks from charging penalty for prepayment of home loans and now the same has been extended to individual term loans The Reserve Bank of India (RBI), on Wednesday said that banks should allow customers to prepay floating rate term loans without any penalty.

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Sucheta Dalal Sucheta Dalal 29 April 2014
We have a long way to go before financial consumers feel safe Consumers International (CI), a global network of 240 consumer organisations, has decided on four key areas of financial consumer protection (FCP) that will be the focus of its consumer advocacy in the coming year. CI will...

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Moneylife Digital Team 28 April 2014
In an eight-year-old case, the National Comsumer Forum, while allowing additional payment as per surveyor report, said, the complainant did not claim total loss and hence the insurer cannot be forced to pay full compensation The National Consumer Disputes Redressal Commission (NCDRC) has...

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Sucheta Dalal Sucheta Dalal 15 April 2014
At last, the RBI governor is nudging Indian banks in the right direction For the first time after taking over as the RBI governor, Dr Raghuram Rajan has made a strong pitch for a more level playing field for bank customers. His first credit policy statement for FY2014-15 specifically...

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Nivedita Shankar 08 April 2014
Section 74 and 75 of new Companies Act classify any default in repayment of deposits accepted before the enforcement of Act, as liable to be termed as fraud under section 447 if it can be proved that the intent behind accepting such deposits was to defraud depositors   The Companies...

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Moneylife Digital Team 26 March 2014
Indian cyber security sleuths have alerted users of Android smartphone about malicious activities of a tricky virus called 'Dendroid' whose infection could completely compromise their mobile handsets Computer Emergency Response Team of India (CERT-In) has issued an alert, warning Android...

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Moneylife Digital Team 15 March 2014
Under pressure from the regulators, HSBC has settled and closed its five year old dispute with singer-actress Suchitra Krishnamoorthy. While the settlement does not permit her to reveal the amount, we learn that this case of gross mis-selling and customer abuse has been amicably closed....

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Moneylife Digital Team 13 March 2014
With smartphones set to function as a remote control for many aspects of our lives, consumer groups believe that big mobile companies should be held to account for unfair, substandard services. Consumers International (CI), a global coalition of 250 member organisations has declared that...

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Vishrut Patel 06 March 2014
Citrus Check Inns, the new avatar of Royal Twinkle Star Club, is selling its holiday membership as an investment plan to gullible investors. Is SEBI aware about it?   Citrus Check Inns Ltd is the new avatar of Royal Twinkle Star Club (RTSC) that was infamous for selling holiday...

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Moneylife Digital Team 05 March 2014
RBI has granted nine months more time for exchanging pre-2005 currency notes and clarifies that public can freely use these notes for any transactions till that time The Reserve Bank of India (RBI) has granted nine months more for people to exchange currency notes printed before 2005....

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Gurpur Gurpur 20 February 2014
The strike by bank employees causes innumerable difficulties not only to the customers of banks but also to the general public putting the entire economy in disarray. Can the RBI take an initiative to find permanent solution to this? Last week on 10-11th February nearly a million...

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Vivek Sharma Vivek Sharma 18 February 2014
Banks need to go beyond the traditional approach of check box approach in KYC. The first step in risk mitigation in the banking system needs to start with know your customers’ business and the business risk Know Your Customer (KYC) has traditionally been a check box approach. It starts...

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Moneylife Digital Team 10 February 2014
While asking the insurer and its agency to pay Rs3.5 lakh mediclaim, the apex consumer forum directed Federal Mogul Goetze, the employer, to pay Rs30,000 compensation and keep renewing the complainant’s policy till he needs it The National Consumer Disputes Redressal Commission (NCDRC)...

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Moneylife Digital Team 07 February 2014
Namo Narain Meena clarified in Lok Sabha that although RBI received a proposal from IBA to limit free transaction on ATMs, no decision has been taken so far The Reserve Bank of India (RBI) is yet to take a decision on limiting the number of free transactions at ATMs, as proposed by...

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