CONSUMER ISSUES


IANS 03 August 2021
To safeguard the interest of its customers, the State Bank of India (SBI) has launched a new security feature -- SIM Binding in YONO and YONO Lite.   The new version of these platforms will protect customers from various digital frauds. With the SIM Binding feature, YONO and YONO Lite...

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Moneylife Digital Team 30 July 2021
As if the pains caused by the coronavirus (COVID) pandemic were not enough for businesses, banks from across the country are either freezing or closing current accounts of customers.   Banks are citing a circular issued by the Reserve Bank of India (RBI) in August 2020 titled 'Opening...

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Moneylife Digital Team 30 July 2021
The Reserve Bank of India (RBI) has cancelled the license of Goa-based Madgaum Urban Cooperative Bank, with effect from 29 July 2021. This bank is latest to add to a long list of badly-run banks whose licenses have been cancelled by the RBI after their poor performance.   The banking...

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When we Indians are so proud of our information technology (IT) prowess and the many global tech giants headed by Indians, why isn’t cutting-edge technology being employed to refund money that rightfully belongs to savers and investors? The amount of money lying with the government, in the...

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Moneylife Digital Team 28 July 2021
With the Union cabinet clearing the Deposit Insurance & Credit Guarantee Corporation (DICGC) Bill 2021, depositors can expect to receive their money back within 90 days from Reserve Bank of India (RBI) declaring moratorium on their bank.    In a media briefing, finance minister...

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Moneylife Digital Team 28 July 2021
Expressing serious concern over the mandatory hallmarking of jewellery, the National Task Force says, the Bureau of Indian Standards (BIS) cannot change the tradition and fabric of the jewellery industry by putting the livelihood of lakhs of jewellers at stake and thus affect crores of...

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In major changes to e-commerce rules, the Ministry of Consumer Affairs has specified that an e-commerce marketplace entity shall not sell any goods owned or controlled by it on such e-commerce marketplace platform. All the sellers on the platform shall only be third party sellers, and no...

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Moneylife Digital Team 20 July 2021
Aiming to douse social media claims that Cadbury products contain beef, the chocolate maker clarified that this is not true and that all its products manufactured and sold in India are 100% vegetarian.    In a series of tweets, Mondelez/Cadbury says, "The screenshot shared in...

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Moneylife Digital Team 20 July 2021
The Consumer Disputes Redressal Commission at Punjab, has upheld an order penalising a holiday club for unfair trade practices. Genial Holiday Club offered holiday accommodations at various locations.   In September 2019, the district consumer forum had (in an ex-parte order) ordered...

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Moneylife Digital Team 20 July 2021
If the travelling ticket examiner (TTE) is missing from the train coach, it is to be construed as deficiency in service as per the Gondia District Consumer Disputes Redressal Forum, which has imposed a penalty of Rs30,000 on Indian Railways.   The bench of president Bhaskar Yogi and...

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Moneylife Digital Team 19 July 2021
While consumers are reeling under the ever-increasing prices of petrol, diesel and domestic liquified petroleum gas (LPG) cylinders, the Union government and State-run oil marketing companies (OMCs) are earning higher revenues and profits, shows data submitted in the Lok Sabha. As on Monday,...

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Moneylife Digital Team 16 July 2021
India’s largest state-run lender State Bank of India (SBI) has issued a warning about ‘phishing links’ to its customers. SBI has alerted its customers not to click on links containing ‘gift from the national bank’ and ‘freebies’ if received on their mobile number or email ID. SBI disclosed...

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Moneylife Digital Team 16 July 2021
With the rising prices of fuel and essentials amidst the COVID-19 impact, as many as 79% consumers believe their household earnings for FY21-22 will decline, while 49% expect decline in savings, as per a survey conducted by LocalCircles.   According to the survey, 79% households say...

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Moneylife Digital Team 16 July 2021
In a strongly worded order, the Bombay High Court (HC) has ordered Jayesh Shah and Ketan Shah, both directors of Ravi Development LLP to prove that they are ‘paupers’ by producing their and the firm’s bank account statements and sharing details of their standard of living. The HC was angry...

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Moneylife Digital Team 15 July 2021
Bureau of Indian Standards (BIS) officials have seized 714 grams of gold jewellery bearing spurious BIS Hallmark during its search and seizure operation at Andheri in Mumbai.    "During the search and seizure operation at the premises of Classic Karat Assay Lab Pvt Ltd, located at...

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TruthInAdvertising.org 15 July 2021
How much of the real fruit pictured on the label actually makes it in these products?   Slick images of strawberries, lemons, limes, oranges, and other wholesome-looking fruit adorn the front labels of a number of popular grocery store items, beckoning consumers with a healthy snack...

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Moneylife Digital Team 14 July 2021
While dismissing an appeal filed by Mumbai-based PD Hinduja National Hospital, the National Consumer Disputes Redressal Commission (NCDRC) has asked the hospital to pay Rs3.51 lakh to a patient. Hinduja Hospital had filed an appeal against an order passed by Maharashtra state consumer...

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Moneylife Digital Team 14 July 2021
An Ahmedabad-based consumer court has ordered a multi-brand clothing retailer Brand Factory to pay Rs1,500 as compensation to a customer for charging him Rs10 for a carry bag.    The Consumer Disputes Redressal Commission (Ahmedabad rural) also asked the retailer (Brand Factory) to...

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Setting an ambitious target of 10 per cent for all battery electric vehicles (BEV) registrations by 2025, the Maharashtra government on Tuesday unveiled its new Electric Vehicle Policy (EVP) with a slew of incentives and attractions for the customers.   The EVP was released by...

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A group of 26 employees, including five women, have been arrested here for duping over 1,250 US citizens through a fake call centre by impersonating as Amazon customer service providers, police said on Tuesday.   On an average, the accused used to cheat over six US citizens per day....

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