CONSUMER ISSUES


Moneylife Digital Team 26 August 2021
Expressing displeasure over the way Sanjay Chandra and Ajay Chandra, erstwhile promoters of Unitech Ltd, were allegedly operating from Tihar Jail in New Delhi, the Supreme Court asked to immediately shift them to jails in Maharashtra. The apex court also pulled up Tihar Jail authorities for...

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TruthInAdvertising.org 26 August 2021
How close to the beach do you have to be to be “near the beach”? A mile? A couple hundred feet? Less than that?   For Hotels.com, the answer is as much as (if not more than) 10 miles.   That’s how far the Mondrian Los Angeles is from Santa Monica State Beach, the closest beach...

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Moneylife Digital Team 20 August 2021
In a clear case of insider hand, Dr Jayaprakash Narayan, a former officer from the Indian Administrative Services (IAS) and founder of Lok Satta Party, lost Rs13.58 lakh during the second COVID lock-down when his mobile subscriber identity module (SIM) card was allegedly swapped. For the past...

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IANS 20 August 2021
The Supreme Court on Thursday observed that the builders only understand the colour of money or a jail term, as it imposed a fine of Rs 15 lakh on a real estate firm.   A bench headed by Justice D.Y. Chandrachud told real estate firm Ireo Grace Realtech Pvt Ltd that the court had...

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Moneylife Digital Team 18 August 2021
In a path-breaking judgement the Gondia District Consumer Disputes Redressal Commission has directed the State Bank of India (SBI) to reverse the disputed transaction of Rs18.36 lakh into the customer's bank account.   The Commission even directed SBI to recover the money from the...

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Moneylife Digital Team 18 August 2021
If you have visited your local post office, chances are you must have seen the plight of many senior citizens standing in queue for their turn to withdraw money from savings schemes such as senior citizens savings scheme (SCSS), time deposits, monthly income scheme (MIS), savings account or...

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IANS 18 August 2021
The Supreme Court on Tuesday said that over 1,000 home buyers, who have opted for refund from Unitech Ltd, will be given 30 days to reconsider their decision and take possession of the flats.   A bench of Justices D.Y. Chandrachud and M.R. Shah told amicus curiae, advocate Pawanshree...

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Although e-bikes or two-wheelers have been slowly making their presence felt with active encouragement from the government, the Independence Day launch of Ola Electric’s S1 and S1 Pro at Bengaluru created a buzz reminiscent of the launch of the Nano car 12 years ago. Ratan Tata has a personal...

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IANS 17 August 2021
It may seem amusing but your good old car seat cover is not actually a "part" of the seat but an "accessory", at least, in the eyes of the tax department.   In an assessment, the Andhra Pradesh Authority for Advance Ruling (AAR) has turned down the plea of an applicant to term the car...

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Moneylife Digital Team 16 August 2021
The Delhi High Court has issued notices to 12, including Union government and C&C Towers Ltd, in a writ petition filed by 94 financial creditors of the company.    In her order issued last week, justice Rekha Palli observed that these 94 financial creditors of C&C Towers had...

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Moneylife Digital Team 16 August 2021
"Although cases, where home-buyers are left in the lurch due to developers filing for bankruptcy, might seem like the end, such cases can be resolved through a clear understanding and consensus among the affected home-buyers.   "Individual battles will not help, a collective effort is...

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Moneylife Digital Team 14 August 2021
The Reserve Bank of India (RBI) has cancelled licence of Panvel-based Karnala Nagari Sahakari Bank as the bank does not have adequate capital and earning prospects. RBI says 95% of depositors of the bank will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee...

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IANS 11 August 2021
The Supreme Court on Wednesday took strong objection at vacancies in state consumer disputes redressal commissions, saying that the states are defeating laws enacted for welfare of people.   What is purpose of creating posts and not filling them, it said, asking all states and Union...

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Moneylife Digital Team 11 August 2021
Indian banking customers are being targeted by a new type of phishing attack using the ngrok platform (a web service provider). The malicious actors have abused the ngrok platform to host phishing websites impersonating internet banking portals of Indian banks. Using these phishing websites,...

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IANS 04 August 2021
India has till date operationalised 361 air routes under the regional connectivity scheme 'Ude Desh Ka Aam Nagrik' or RCS-Udan.   The scheme was launched in 2016. Under it, airlines are provided with a 'Viability Gap Funding' to keep fares affordable and accessible.   "Till...

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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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