Consumer Issues: Maharashtra Reduces Service Charge on Online Tickets
Maharashtra government has reduced the service charge on tickets purchased online. The service charge per ticket will be capped at Rs10, an official release said. The decision applies to sale of online tickets including those for films, amusement parks, water parks, cricket ODIs and IPL matches, among others.
 
Last year, Maharashtra government had issued notices to movie theatres asking them to stop charging extra for tickets sold online, a move that was challenged in the court by the aggrieved cinema hall owners. The notice covered tickets booked through websites. The so-called service, convenience or Internet-handling, charge depends on the price of the tickets. It’s usually Rs10 for a ticket costing up to Rs100, rising to Rs20 for a Rs100-Rs200-ticket and so on.

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Cards: ICICI Bank Launches Contact-less Credit & Debit Cards

ICICI Bank announced the launch of the country’s first ‘contact-less’ debit and credit cards, enabling its customers to make electronic payments by just waving the card near the merchant terminal in lieu of dipping or swiping it. These cards are based on the near field communication (NFC) technology which provides customers the improved convenience of speed, as these cards require significantly less time compared with traditional cards to complete a transaction. They also provide enhanced security as they remain in control of the customer.

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Retirement: Reliance Mutual Fund Gets Tax Department Nod for Pension Scheme

Reliance Capital Asset Management Company has received government approval for the first-ever equity-oriented pension scheme giving tax benefits to investors. The government has notified Reliance Retirement Fund as a ‘Pension Fund’ under a relevant Section of the Income-Tax Act offering tax deductions to individuals for investments up to Rs1.5 lakh in a financial year. This is the first pension fund that offers an equity-oriented option, thereby enabling investors to earn competitive returns that can help beat inflation.

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