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IANS 19 February 2021
A website that goes by the name of 'Pradhan Mantri Yojana Loan' and was earlier linked to a Google Play Store app with the same name (the app has now been removed) is luring Indians in providing loans, in exchange for personal identifiable information that can potentially be misused online,...

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Moneylife Digital Team 19 February 2021
The Reserve Bank of India (RBI), in its master directions, has asked regulated entities (REs) like banks and financial institutions, to put in place adequate safeguards to protect integrity of data, customer confidentiality and security of data in digital payment products and related services...

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Archana Sharma (IANS) 18 February 2021
Continuing its northbound trend in Rajasthan, the price of non-premium petrol crossed the Rs 100-mark for the first time in Sriganganagar district on Wednesday to reach Rs100.13 per litre, while diesel price stood at Rs92.12 a litre.   Despite the recent reduction in VAT by 2% by the...

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Taking advantage of increased Zoom use and people's fear of intimate moments being exposed, scamsters are using a new extortion method called sextortion. Researchers at Avast claim that they have blocked over 500,000 such attacks, where users were threatened by scammers with a threat to make...

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Moneylife Digital Team 18 February 2021
The Bombay High Court has asked the Maharashtra State Road Development Corporation (MSRDC) how long it would continue to collect toll from commuters on the Mumbai-Pune Expressway, now called the Yashwantrao Chavan Expressway.    Hearing a public interest litigation (PIL) petition...

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IANS 18 February 2021
Amazon documents have revealed the company's strategy to dodge India's regulators, a global newswire reported on Wednesday.   The report said that two more sellers on the e-commerce giant's India platform – merchants in which Amazon had indirect equity stakes – accounted for around 35...

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Subhash Narayan (IANS) 17 February 2021
Fuel prices have started to pinch consumers harder as petrol has become costlier by nearly 3.75 per cent and diesel about 4.5 per cent in the last 17 days, since the announcement of the new agriculture infrastructure and development cess in Budget 2021-22.   The government has...

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Moneylife Digital Team 17 February 2021
The office of the Banking Ombudsman (BO) has disposed almost 72.34% of the complaints through mutual settlement or agreement and issued awards in only 68 cases, that is 0.04% of the total 173,958 maintainable cases during 2019-20, reveals a report from the Reserve Bank of India (RBI). The...

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Moneylife Digital Team 16 February 2021
Taking cognizance of harassment of the telecom subscribers through unsolicited commercial messages or calls and financial fraud committed against the users, the ministry of communications has asked officials to take strict action against erring telemarketers and individuals involved in these...

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IANS 16 February 2021
Several websites are selling fake reviews for goods sold on Amazon Marketplace, according to UK-based consumer group Which?   Cost of the fake reviews starts from 5 pound each and some of the website are selling them even "in bulk," the BBC reported on Tuesday, citing the findings of...

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Moneylife Digital Team 08 February 2021
In an important order, the National Consumer Disputes Redressal Commission (NCDRC) has sentenced Parsvnath Developers Ltd's managing director (MD) and other directors to three years' imprisonment, for failing to refund money and for not complying with its decree, says a...

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For the third day in a row, the coin-dispensing machine at Canara Bank (a public sector bank or PSB) had a notice stuck on it saying 'Out of order'.    Some customers made a wry face and went away. I decided to march into the manager’s cabin and ask why the machine hadn’t been...

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Moneylife Digital Team 01 February 2021
As many as 5.1 million light motor vehicles (LMVs) that are more than 20 years old will be scrapped under the new voluntary scrappage policy which, in a way, will boost the automobile industry, says Nitin Gadkari, Union minister for road transport and highways.   According to the...

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Moneylife Digital Team 29 January 2021
The Reserve Bank of India (RBI), while releasing a framework for strengthening grievance redress mechanism, has warned supervisory action against banks that fail to improve their redress mechanism in a time-bound manner. Last month Moneylife had written about how the RBI is winding up its...

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IANS 29 January 2021
The Haryana Real Estate Regulatory Authority (HRERA) has imposed a penalty of Rs2.25 crore against M/s SPS Homes Builders and Developers Pvt. Ltd, M/s Vistaar Group Pvt. Ltd. and M/s Royal Infra Buildtech Pvt. Ltd. for violation of Section 3(1) of the Real Estate (Regulation and Development)...

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Technological advances are often expected to benefit everyone. However, it appears that only fraudsters are becoming smarter, leaving common consumers an easy prey. Take, for example, the new fraud taking place where fraudsters are obtaining mobile numbers that are mostly similar to toll-free...

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Moneylife Digital Team 20 January 2021
With price differential widening to about 44%, the elevated prices of petrol due to a steep increase in taxes in the recent past is set to increase the adoption of compressed natural gas (CNG)-driven vehicles, says CRISIL.    The last time petrol prices had crossed the Rs80 per litre...

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Moneylife Digital Team/ IANS 20 January 2021
A working group set up by the Insurance Regulatory and Development Authority of India (IRDAI) has recommended linking of motor insurance premium to various traffic violations that range from parking in the no-parking areas to drunken driving.   As per the report, the motor insurance...

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Moneylife Digital Team 19 January 2021
After holding home-buyers as financial creditors as per the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Tuesday accepted an amendment in the IBC as constitutionally valid, which requires no less than 100 or 10% home-buyers to initiate insolvency against builder or developer....

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Moneylife Digital Team 19 January 2021
In a landmark judgement, the Maharashtra Real Estate Appellate Tribunal (MahaREAT) has directed the promoters of Palava Lakeside to refund with interest (at interest of 2% more than the marginal cost of funds-based lending rate—MCLR—of State Bank of India) money paid by two home-buyers, who...

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