National Consumer Commission Flays Kesari Tours
Once again, it is the same story. Poor service from a well-known corporate name lets down a young couple who, eventually, wrested an order that slapped a warning and a cost on Kesari Tours Pvt Ltd.
 
Mr and Mrs Nair had planned a honeymoon in New Zealand. Mr Nair had planned his entire tour on his own and booked air tickets and accommodation online. 
 
However,...
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  • Retailers offer deep discounts to clear piled up inventory
    The festival season discount is back, but what would cheer the shoppers more this time are the sharper discounts offered by retailers across categories -- from kitchenware and electronic items to apparels -- to clear off the inventory.
     
    Facing worst sales slowdown in the last two decades, automakers have lined up hefty discounts and other offers to lure buyers. The biggest carmaker Maruti Suzuki is offering discounts and other benefits in the range of Rs 40,000 to Rs 1,01,200 on its popular models. Other companies like Honda, Nissan, Hyundai and Renault are also offering competitive benefits to beat the slowdown blues.
     
    While offline retailers are offering a discount in the range of 10-30 per cent, online retailers like Amazon are giving discounts in the range of 10-80 per cent.
     
    Delhi-based traders body Confederation of All India Traders (CAIT) National Secretary General Praveen Khandelwal said the discount level this year is more compared to last year due to high inventory pile-up in the wake of slowdown.
     
    "Last year, the discounts averaged from 5 to 10 per cent. This year, those are in the range of 10-30 per cent. For the stocks lying unsold for the last one year, the discount is more than 30 per cent. Online retailers are giving discounts upto 80 per cent to corner more market share," Khandelwal said.
     
    The wholesale price index (WPI), which reflects producers' pricing power has been consistently low and economists see it further dropping in the face of unsold stock and sub-optimal capacity utilisation. The lower capacity utilisation in manufacturing sector is one of the main reasons private investment has remained subdued. The WPI has been showing downward trend and it was lowest in August in the last 25 months.
     
    Fitch group firm India Ratings and Research had last month in a report said that it does not see private investment picking up anytime soon as manufacturing sector capacity utilisation has hovered in the range of 70-76 per cent since FY14 and unless it reaches optimum level no company would invest.
     
    Most retailers have complained of squeezed margins due to deep discounts, which are necessitated to maintain cash flow even if it means loss.
     
    "The market was gung-ho for a long time as the consumption was only soaring.
    Keeping with that the manufacturers created huge inventory, which has got stuck all of a sudden due to the slowdown. Now the best way to clear the inventory is to get the goods going at deep discounts," said brand strategist Harish Bijoor.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    COMMENTS

    TIHARwale

    4 weeks ago

    This sale has no effect in grocery section. today tried flipkart sale. items after so called discount are still costlier than prices at Big Bazaar outlet when payment is made through Future Pay but catchis one should use cash back in a months time or else it lapses. also when one buys membership for Rs 10,000/- one gets value for Rs 12,000/- but catch is u can buy for Rs 1,000/- only per month so Rs 12,000/-shopping can has to be done over a period of 12 months. in comparison easy day Rs1,000/- member ship allows u to get back membership fee over a monthly cash value of Rs 200/- per month which can be utilised in 5 months and also get 10% discount on marked price.

    Auto value chain data sold to pvt parties in breach of privacy
    With data privacy now becoming hot button, breaches too are common place. However, when the government itself decides to wilfully use data to generate revenue, then questions of propriety are raised for this is proprietary data with the right to it and ownership of it vested with the individual.
     
    With the government looking to monetise data, Transport Minister Nitin Gadkari had revealed in Parliament recently that the government is selling vehicle registration and driving licence data of Indians and earning money from it. It is not known whether this decision was ratified by the Law Ministry since issues of privacy are involved.
     
    Replying to a query posed by Congress MP Husain Dalwa, who asked if the government has intended to sell Vahan and Sarathi database in bulk (and) if so, the estimated value for the sale, Gadkari stated that it has provided 87 private and 32 government entities access to Vahan and Sarathi database which has yielded a revenue of Rs 65 crore so far. This is peanuts for the breach involves giving access to tele marketers, leading to widespread harassment, DND (do not disturb) be damned. 
     
    If you want to know why the frequency of car manufacturers, financiers and insurers tele calls is rising, then Mr Gadkari is partly to blame for it. More and more people are being inundated with phone calls on topups or loans against owned cars or purchase of upgrades and the reason behind it is that data has been made freely available to a slew of people connected to the auto industry. 
     
     
    An IANS investigation has found that manufacturers Toyota Kirloskar, Tata Motors, Volkswagen India, Indo Farm Equipment manufacturer of tractors, pick n carry cranes, rotary tillers and harvestors; banks like Stan Chart, SBI, Banaskantha Mercantile Coop Bank, HDFC Bank, ICICI Bank, IDFC Bank, Indus India Bank and Kotak Mahindra bank and vehicle financing companies like Khushbhu Auto Finance, Kanak Durga Finance, John Dere Financial Services, India Infoline Financial, Home Credit India Finance, Hinduja Leyland Finance, Hero Fin Corp, HBD Financial Services and insurers HDFC Ergo General Insurance, ICICI Lombard General Insurance Co, Sundaram Finance, Suryoday Small Finance, Tata Capital Financial Services, Oriental General Insurance, TVS Credit Services are the bulk buyers of the data. These are some of the buyers till date and they represent virtually the entire automobile food chain. 
     
    The Vahan and Sarathi ministry maintains the Centralized National Registry through the National Informatics Centre and it contains approximately 25 crore vehicle registration records and 15 crore driving licence records. For the same, the Road Transport and Highways Ministry has also created "Bulk Data Sharing Policy & Procedure". 
     
    In Parliament, Gadkari had added that organizations seeking bulk data could obtain it at a price of Rs 3 crore. According to him, education institutes seeking the data could obtain it for "research purposes and internal use only" for a price of Rs 5 lakh.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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