OYO to offer complimentary insurance to its guests
OYO Hotels & Homes on Monday announced a complimentary insurance cover of upto Rs 10,00,000 for its guests at booking price, across OYO properties in India.
 
The insurance cover has been launched in partnership with ACKO General Insurance, OYO said in a statement.
 
"The complimentary insurance package offers OYO guests insurance coverage upto Rs 10,00,000 for protection against accidental death (coverage upto Rs 10 lakh), baggage loss (coverage upto Rs 10,000), accidental medical expenses (coverage upto Rs 25,000) amongst other benefits like OPD treatment, etc for the entire duration of their stay in a particular city," it said. 
 
To begin with, OYO will offer the insurance package to guests staying at OYO Hotels, OYO Home, OYO Townhouse, Collection O, SilverKey, Capital O and Palette Resorts, the company said. The insurance cover will be applicable to bookings made through the OYO App, website, mobile website, direct bookings as well as walk-ins. 
 
The offering will be extended to other categories and booking channels in the coming days.
 
On booking an OYO property, customers will be able to view their insurance policy on the booking confirmation page and by logging on to either of the OYO and ACKO websites with their registered mobile numbers, the statement said.
 
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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    Big boost for homebuyers, SC nod to financial creditors status
    The Supreme Court on Friday upheld the status of homebuyers as financial creditors as per the amendment in the Insolvency and Bankruptcy Code (IBC).
     
    Builders had moved the top court challenging the financial creditors status given to homebuyers. With this judgement, the court has upheld the government decision to grant homebuyers the status of financial creditors.
     
    The court has also upheld the IBC Amendment with certain safeguards.
     
    Homebuyers to have a say in Committee of Creditors, and they can also initiate insolvency proceedings.
     
    The court has also asked the government to adequately man the Real Estate (Regulation and Development) Act, 2016 (RERA) and National Company Law Tribunal (NCLT), and should file affidavit within three months in connection with it.
     
    The court also said that the IBC provisions should be read harmoniously with RERA. Every application pending before NCLT will be decided on their own merit with respect to this apex court judgement.
     
    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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    Parliament Nod for National Regulator for Addressing Consumer Plaints
    Parliament on Tuesday passed the Consumer Protection Bill 2019 that seeks to address the issues of false and misleading advertisements and set up a national regulator to address consumer complaints, paving the way for strengthening of consumer rights.
     
    Replying to the debate, food and consumer affairs minister Ram Vilas Paswan said he would consider additional suggestions for consumer protection while framing the rules under the legislation.
     
    On Derek O'Brien's (TMC) suggestion to refer the Bill to select committee, the minister said it had already incorporated suggestions by the standing committee and extensive consultations had taken place.
     
    Amendments moved by members of various parties were defeated.
     
    The Bill also promises to address the issues related to defects in goods and deficiency in services.
     
    Introducing the Bill, Mr Paswan said it provided for penalising manufacturer for not adhering to the promised quality and standards. Celebrities endorsing a product should only go by the standards and features, and should not promise anything else on their own, he added.
     
    The Bill provides for product liability action on account of defective items. In certain cases, class action can also be initiated against companies for recall, refund and return of defective products. 
     
    Apart from setting up consumer courts at the district, state and national levels, the Bill proposes the central consumer protection authority (CCPA) to promote, protect and enforce consumer rights as a class. The CCPA will protect consumers from unfair trade practices and can also take suo moto action against false and misleading advertisements.
     
    Initiating the debate, KC Ramamurthy (Congress) said the aim of the Bill was to regulate e-commerce for protection of online consumers as this did not feature in the 1986 Act. The Bill had certain broad loopholes with regards to e-commerce, he added.
     
    Vijay Goel (BJP) stressed more consumer awareness and said, with consumers becoming aware of their rights, more complaints would come for redressal and, hence, a mechanism should be in place to deal with them.
     
    Stating that the Bill does not address the issues related to maximum retail price (MRP), Mr Goel said it was a tool to loot consumers. Instead of MRP, the products must display minimum retail price, he said and added, "At times, MRPs are printed factoring in 300% margin."
     
    Manoj Jha (RJD) said disclaimer at the end of advertisements for mutual funds and other financial products were not audible and demanded measures to make people aware of risks associated with them.
     
    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

    gcmbinty

    4 months ago

    Hope for the better. What is not heard about the fate of the Consumer Protection Councils in the Act 1986. It is the most important provision which should work. Rest, hope for the best.

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