Consumer Issues
Air India asked to pay Rs50,000 to woman passenger

The carrier was directed to pay Rs50,000 as compensation to a woman flier for causing her inconvenience by not loading her luggage in the flight

State-run carrier Air India has been asked to pay Rs50,000 as compensation to a woman passenger for not loading her luggage during her flight to Abu Dhabi from New Delhi in 2007.

 

New Delhi District Consumer Disputes Redressal Forum asked the carrier to pay the compensation on a complaint filed by Sandhya Sharma.  In her complaint, she claimed that she suffered great difficulties due to loss of her suitcase during the travel. The suitbase was delivered to her three days after she reached Abu Dhabi.

 

"Although some compensation of 300 Dirham was given to the complainant by airlines, it is not sufficient for the inconvenience suffered by the complainant. Considering the complaint, we award Rs50,000 in toto as compensation for the inconvenience suffered by the complainant including litigation cost," the bench presided by CK Chaturvedi said.

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COMMENTS

PRABHAT

4 years ago

IT IS SUGGESTED THAT WHILE AWARDING COMPENSATION , THE DEFENDENT MUST BE ORDERED TO DEPOSIT EQUAL AMT. TO GOVT. FUND AND ALL THIS AMT. MUST BE CLAIMED FROM ERRING OFFICIALS SO THAT IT MAY NOT HAPPEN IN FUTURE . IT WILL HELP IN REDUCING NO. OF CASES.

BSE, NSE places Essar Oil, Suzlon, Educomp and CORE Education in 10% fixed price band

According to the bourses, all the four stocks are kept in the 10% price band to limit any upward or downward movement in their prices

National Stock Exchange (NSE) and BSE, the two leading bourses have decided to keep four companies Essar Oil, Suzlon Energy, Educomp and CORE Education in a fixed price band of 10% as part of their preventive surveillance measure.

 

According the NSE and BSE, the decision to limit any upward or downward movement in share prices of these four companies was taken in consultation with market regulator Securities and Exchange Board of India (SEBI). The price band would be applicable from 2nd April, the bourses said.

 

In separate notices, NSE and BSE said that a fixed price band of 10% on these four stocks is being imposed as part of a "preventive surveillance measure and to ensure market safety and safeguard the interest of the investors".

 

The dynamic price bands, generally referred to as dummy filters or operating range, prevent acceptance of orders for execution that are placed beyond the price limits set by the stock exchanges.

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COMMENTS

arun adalja

4 years ago

it is too late when damage is already done,can we have some short of circuit which can holt the trading if price goes low say 30%?can we do this in f&o based shares also?

Big boost of NPS: Muthoot Finance to use NPS for employees

Employees of Muthoot Finance would be covered under the national pension scheme and  employee contribution to NPS will be linked with a contribution by the gold loan company

Gold loan company Muthoot Finance Ltd has launched a pension scheme for its employees under the National Pension System (NPS).

 

"For the employees of the company this will be a distinctive social security benefit and a unique staff welfare scheme as the employee contribution to NPS will be linked with a contribution by the company. Muthoot Finance in its capacity as point of presence (POP) will absorb certain applicable POP related transaction charges," the company said in a release.

 

Pension Fund Regulatory Development Authority (PFRDA) had launched NPS, a social security measure of the union government. The long-term retirement savings plan for the Indian citizens in the 18-60 age groups has the provision for regular pension at the end of the tenure.

 

While Central and State government employees have to subscribe it mandatorily, it is optional for others. The minimum annual contribution is Rs6,000, which can be paid at once or in instalments of at least Rs500.

 

NPS are not exactly the best option for retirement savings. NPS returns will be destroyed by tax at the time of withdrawal. The only parameter on which NPS scores is the feature wherein the employer makes contribution to NPS, which can happen without increase in CTC (cost to company). There is a separate tax deduction under a new Section 80CCD(2), which helps employees save on taxes. The best part is that such contributions will not be included in the Rs1 lakh limit exemptions that you can avail of under Section 80C and the employer can show it as deduction from business income under Section 36 I (IV) A for his contribution. This is the feature Muthoot is using.

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COMMENTS

M G WARRIER

4 years ago

If NPS is being offered by the company in addition to mandatory contribution to Employees Provident Fund, this is a magnanimous gesture. Still, the burden for employees to contribute to PF and NPS could be unaffordably heavy. But for ensuring a reasonable pension, savings @40 per cent of income during active service may be necessary and perhaps Muthoot may be aiming this!
If my understanding is not correct, will someone clarify?

CA PRADEEP AGARWAL

4 years ago

Actually in today's environment you will find sucker's everywhere and the Govt is the biggest, generous where the politicians have interest and when the benefit is utilised by the public then they start plugging the loopholes, till that time they had minted hell lot of money.

Kavita Swame

4 years ago

practically useless, too many conditions, tax on withdrawl after waiting for so may years. At old age it may be pain to loose so much money as tax, rest 40 percent invest in insurance makes it useless. Why can not govt be little generous to lower and middle class at least in giving back their own hard earned money. Why not govt concentrate on earnings from PSUs.

REPLY

Vineeth A Kumar

In Reply to Kavita Swame 4 years ago

Agree with your view, another point to highlight is the pathetic CTC & working conditions..average CTC around Rs. 8000/month.
Even on holidays they need to be on duty...off course (was surprised to see them off on easter and Xmas)

This is called slavery at its best, private banks circus was exposed by CobraPost, what about - Muthoot (and other - jokes in Kerala - if you have colored money inform Muthoot (Pappachan) next day a full fledged branch will be opened just adjacent to the customer home.

That's called Customer Service...

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