Moneylife Foundation selected for the 10th MR Pai Award
Moneylife Foundation has been selected for the prestigious M R Pai Award. The Award named so in memory of M R Pai, the man who successfully fought innumerable battles for consumers long before consumer courts were set up in India
 
Moneylife Foundation has been nominated for the 10th MR Pai Award, instituted in memory of the man 'Reader's Digest' once called, 'Champion of the Consumer'. Dr Deepali Pant Joshi, executive director of Reserve Bank of India (RBI) would present the award to Moneylife Foundation on 16th September at 5.30pm at IMC in Mumbai.
 
This award, in the memory of well-known consumer activist Mangalore Ranga (MR) Pai, was instituted in 2004 by Punjab and Maharashtra Co-operative Bank Ltd. The Award is given to a consumer activist or consumer organisation each year by the All India Bank Depositors Association, which Mr Pai founded and headed for decades.
 
Previous recipients of the MR Pai Award include Pushpa Girimaji, Manubhai Shah, Dr AV Huligol, Pradeep S Mehta, Dr Ashish Das, Dr YV Reddy (former governor of RBI), Sunita Narain, Self Employed Women's Association (SEWA) and Shirish Deshpande of the Mumbai Grahak Panchayat.
 
During the years of the controlled economy India, when almost all services where provided by a Government-owned monopoly, the services that could be availed by a consumer were either appalling or even non-existent.
 
It was during this time when the term Consumer Rights was yet to gain popularity, that Mr Pai was able to make a big impact. Services offered by the Indian telephones, nationalised banks and airlines, among others, began to face his ire. He started demanding good services for the customer at every available forum.
 
Mr Pai successfully fought innumerable battles for the consumers with the telephone department, banks, airlines and several institutions, long before consumer courts were set up under the Consumer Protection Act, 1986. Thanks to him, thousands of telephone subscribers, bank depositors and consumers across the country benefitted.
 
He was an honorary secretary of the All-India Bank Depositors' Association, through which he published the book Depositors’ Rights and Customer Service in Banks that provided customers of banks, information required to deal with the various problems faced by them.
 
The Indian edition of Reader's Digest, featured him on the cover of their October 1995 issue under the title “MR Pai - Champion of the Consumer.”
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COMMENTS

sivaraman anant narayan

4 years ago

Congratulations to Moneylife for the Award,well deserved!.

Surjit Banga null

4 years ago

It is a small recognition of the crusade launched by Moneylife to protect unsuspecting consumers and to spread financial literacy. Congratulations to Team moneylife!!!

Suiketu Shah

4 years ago

Congratulations.

Supreme Court turns down CBI director Sinha’s plea to restrain media
CBI director Ranjit Sinha also refuted all the allegations made against him, saying all such statements are “patently false"
 
The Supreme Court on Thursday turned down the plea of Ranjit Sinha, the director of Central Bureau of Investigation (CBI) seeking to restrain media from broadcasting and publishing news stories on the basis of documents pertaining to the entry list of visitors at his residence.
 
A Bench headed by Justice HL Dattu said it had gone through the documents and asked advocate Prashant Bhushan to file an affidavit annexing the materials.
 
“We have gone through the documents. We cannot take cognisance of this until it is placed on record,” the Bench said.
 
The Bench agreed to give an urgent hearing on the issue and decided to assemble at 10am, half an hour before the normal court time, on Monday.
 
In his plea, Sinha submitted that his right to privacy and reputation was involved in the case and pleaded the court to restrain the media.
 
Senior advocate Vikas Singh, appearing for the CBI Director, raised questions on the veracity and source of the documents.
 
The CBI Director also refuted all the allegations made against him, saying all such statements are “patently false".
 
However, the court turned down the plea to restrain the media from broadcasting or publishing news stories based on the documents.
 
The advocate also raised questions on how the documents got leaked despite Supreme Court’s order that they should be placed before it in a sealed envelope.
 
Singh further pleaded that apex court should ask Bhushan about the source from which he acquired those documents.
 
The CBI Director is at the centre of a controversy after an NGO had told the Supreme Court that entry register of his residence portrays a “very disturbing” and “explosive material” coming in the way of administration of justice in 2G spectrum allocation scam. 

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HC reserves order on bail plea of Tejinder Singh in Tatra case
Besides Kapil Sibal, a battery of lawyers including Geeta Luthra, Dayan Krishnan and Pramod K Dubey appeared and sought bail for Tejinder Singh 
 
The Delhi High Court on Thursday reserved its order on the bail plea of Lt Gen (retd) Tejinder Singh. Tejinder Singh has been arrested for allegedly offering Rs14 crore bribe to the then Army chief VK Singh for clearing files pertaining to procurement of Tatra—all terrain vehicles.
 
The order has been reserved by a bench headed by Justice Pratibha Rani after hearing arguments advanced by counsel on behalf of Tejinder Singh and Central Bureau of Investigation (CBI).
 
“Who knows the practice better than this court. If an accused has not been arrested during the entire investigation and has root in the society, then he cannot be arrested after filing of charge sheet,” former law minister and senior advocate Kapil Sibal appearing for the jailed former Army officer, said.
 
Besides Sibal, a battery of lawyers including Geeta Luthra, Dayan Krishnan and Pramod K Dubey appeared for Tejinder Singh and sought bail for their client, saying he has been a man of integrity and should have been enlarged on bail by the trial court itself, where he appeared after receiving the summon on 1st September.
 
The counsel for the CBI, however, vehemently opposed the submissions of the accused saying, “the practice of granting bail on filing of charge sheet does not entitle an accused to be granted bail. The gravity of the offence alleged against the accused has to be considered.”
 
The CBI also referred to the statements of the then Army chief Singh and the then Defence Minister AK Antony to support its submission that the allegation against Tejinder Singh were grave in nature.
 
Sibal, in its rejoinder argument, opposed the submissions of the counsel and referred to various Supreme Court judgements to drive home his point that an accused, who has been out during the investigation should not be arrested on filing of the charge sheet.
 
“Moreover, evidence presented to the court are documentary in nature,” he said, adding the alleged offence took place on 22 September 2010 and it was reported after the delay of two years in 2012.

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