Consumer Issues
Tribunal asks HDFC ERGO GenLife to pay Rs16.68 lakh to family of accident victim

The Motor Accident Claims Tribunal asked HDFC ERGO General Insurance Co, with which the offending vehicle was insured, to pay Rs16.68 lakh to the deceased's family

New Delhi: The family of a 29-year-old man, who died after a rashly-driven truck hit the car he was driving, has been awarded Rs16.68 lakh as compensation by the Motor Accident Claims Tribunal (MACT).


The MACT has directed HDFC ERGO General Insurance Co Ltd with which the offending vehicle was insured to pay the amount to the deceased's family comprising of his wife, two minor children, mother and unmarried sister.


"I am of the considered view that respondent 3 (insurance company) is liable to indemnify respondent 1 (driver of truck) and respondent 2 (owner of truck) and is liable to make the payment of compensation to the petitioner.


"I accordingly, grant a compensation to the tune of Rs16.68 lakh to all the petitioners (victim's family)," said MACT presiding officer BS Chumbak.


The tribunal's order came on plea by the family of the victim, late Sujit Kumar, who used to work as a driver.


According to the police, the Indica car driven by Kumar was hit by a rashly-driven truck near Ghazipur dairy farm here on 28 November 2011 afternoon.


The car was badly damaged in the mishap while Kumar got fatal head injuries and his body got entangled in the vehicle and a fire brigade rescue team had to called in to extricate his body from the wreckage, the police had added.


Kumar was rushed to the LBS hospital here, where he was declared brought dead.


While the owner and the driver of the truck had argued they had been falsely implicated in the case, an eyewitness to the mishap specifically deposed that the accident occurred due to rash driving by the truck driver.


The tribunal relied on the un-rebutted testimony of the eyewitness to hold that the accident had occurred due to the rash and negligent driving.


RBI unveils customer-friendly measures, eases KYC norms

The central bank is reviewing existing know your customer norms for simplifying them within the provisions of the PMLA and international standards

Mumbai: The Reserve Bank of India (RBI) has announced a slew of measures, including a simplification of the stringent know-your-customer (KYC) norms, to make banking easier for the common man, reports PTI.


"It is proposed to review the existing KYC norms for simplifying them within the provisions of the Prevention of Money Laundering Act and international standards," RBI said in its second quarter policy review.


The central bank also said it will launch a pilot project, using the Aadhar data collected by Nandan Nilenkani-headed Unique Identification Authority, to authenticate banking transactions at ATMs and merchant terminals.


The Aadhar's biometric details can be used for banks along with the MagStripe (for reading coded information) as an additional factor of authentication for "card present" transactions, it said, adding the pilot project will be launched in New Delhi from 15th November.


With the usage of the national electronic fund transfer (NEFT) increasing, it has been decided to have an additional batch of clearing at 0800 hrs in the NEFT system from 19th November, the RBI said.


On the cheque transaction front, RBI said its 'cheque truncation' system used for paper clearing will have a national rollout by December next year.


As the world heads towards more modern electronic payment system, with some countries like Britain moving towards discontinuation of the cheque system, RBI has decided to prepare a discussion paper on disincentivising issuance and usage of cheques and place it for public comments by this December.


The RBI has also accorded a general permission to banks for the issue of co-branded debit and rupee denominated pre-paid instruments, which till now has to be cleared by RBI.


On coin availability, the RBI review report cites the report of a recent high level committee on demand for coins and said banks will be encouraged to explore the possibility of introducing the "franchisee model" for distribution of small notes and coins.


Additionally, drawing from the experience in the priority sector lending (PSL) model, each bank may also be given a lead bank status for a particular area for the management of coins and currency.


The RBI report also said: "Credit institutions may not be furnishing accurate and timely credit data to the credit information companies (CICs) in some cases and also are not relying as much on available credit information at the time of taking a credit decisions as they should". It asked them to change these practices.


On the currency counterfeiting front, it said the state-run banks which account for 90% of currency chests are slow in reporting such incidents, while private sector banks with only 10% of currency chests account for 90% of the reporting.


HC orders prosecution of doctor for causing death of patient

While absolving the doctor of a more serious charge of culpable homicide not amounting to...

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