Consumer Issues

Finance Minister Nirmala Sitharaman on Friday said that banks in India have decided to pass on marginal cost of funds based lending rate (MCLR) rate cuts to all borrowers.   She also said that banks have decided to launch repo rate or external benchmarking-linked loan products, which...
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...
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...

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...
On 14 June 2019, the National Consumer Disputes Resolution Commission (NCDRC) gave a stunning order which issued a stern warning to ICICI Prudential Life Insurance (ICICI Pru) and slapped a cost of Rs5 lakh on it for rejecting a legitimate claim based on a ‘suspicious medical certificate’...

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