CONSUMER ISSUES


Moneylife Digital Team 07 February 2014
Namo Narain Meena clarified in Lok Sabha that although RBI received a proposal from IBA to limit free transaction on ATMs, no decision has been taken so far The Reserve Bank of India (RBI) is yet to take a decision on limiting the number of free transactions at ATMs, as proposed by...

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Dr SD Israni 23 January 2014
If people who commit frauds are treated with kid gloves, genuine parties have to suffer While Ponzi schemes keep surfacing periodically, in different forms and shapes, old-fashioned frauds  continue without drawing much attention. People try to defraud insurance companies (including life...

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Dr SD Israni 26 December 2013
Is a restaurant liable if your valet-parked car is stolen from its premises? What should you do? With a rapid growth in cars, parking is becoming a headache. It is not uncommon to find car-owners paying lakhs of rupees for a reserved parking slot. Five-star hotels and gourmet restaurants...

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Divya B Malcolm 24 December 2013
If you are married the traditional way, but plan to go overseas, make sure your marriage is registered. And in order to do that you need to know the law and its intricacies A long, long time ago, a young damsel met her prince charming, an army officer. They got married, had children, and...

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Moneylife Digital Team 04 December 2013
Purvi Sanghvi, an account holder at Axis Bank’s Juhu branch alleges that bank employees forged signatures on locker documents and refused to accept her complaint until she approached the police.  The Bank now blames an ex-employee, while senior management remains silent Purvi Sanghvi, a...

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Dr SD Israni 28 November 2013
Why aren’t consumer courts imposing severe penalties for gross negligence? It is said that justice delayed is justice denied. By the same token, one can say that if a defaulter is let off with a nominal fine then justice is partially denied. How often do we come across cases where...

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Moneylife Digital Team 24 October 2013
NCDRC had fixed the compensation on a direction by the apex court, which had referred Saha's appeal to it while holding the three doctors and the hospital culpable to civil liability for medical negligence which had led to the death of Anuradha Saha The Supreme Court on Thursday directed...

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Moneylife Digital Team 23 August 2013
Conflicts of interest is rife in the financial industry. Lavish incentives such as iPhone 5 and Blackberry 10  induce relationship managers to hardsell even poordly designed products. Empirical research has shown parellels in field of medicine. What should be done to prevent mis-selling?

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If given a banking license, the institution with a wide reach—Indian Post Office— could change the banking system and foster financial inclusion that no other institution will be able to match An area where the Reserve Bank of India (RBI) has been under relentless pressure from the...

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RBI has imposed a combined penalty of nearly Rs50 crore on Indian banks. Strangely, the apex banking regulator has let foreign banks get away and issued just a letter of caution On 12th July, RBI imposed a combined penalty of nearly Rs50 crore on 22 banks for violation of KYC (know your...

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Yogesh Sapkale Yogesh Sapkale 20 June 2013
Vegetable prices have shot up over the past few days. As it happens, both the farmers and consumers are reeling under this artificial price hike, while middlemen of APMC markets, as well as, vendors and hawkers are ripping off huge profits The wholesale price index (WPI) based inflation...

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Sucheta Dalal Sucheta Dalal  and   Debashis Basu Debashis Basu 14 June 2013
Bank depositors are the single largest block of financial consumers, across all economic strata. Could regulators pay more heed to their problems, such as ever-increasing service charges, hard-sell of non-banking products by banksters, technological glitches and poor redress of their...

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Insurance companies try and avoid selling a pure term policy as the commissions are very low compared to endowment or a ULIP. They cite income as a key requirement for a term policy while for a ULIP it doesn’t matter from where the money comes from It emerged, from the recent Cobrapost...

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Moneylife Digital Team 30 May 2013
According to the consumer society, Gujarat Urja Vikas Nigam is charging more from consumers by showing additional T&D losses Ahmedabad-based Consumer Education Research Society (CERS) said as per its study the state owned Gujarat Urja Vikas Nigam (GUVNL) has been charging more money from...

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Moneylife Digital Team 22 May 2013
“We are totally shocked at the behaviour of HSBC in its commercial dealings with a customer, who once happened to be its own employee,” the New Delhi District Consumer Disputes Redressal Forum said wile giving the order A Delhi-based consumer forum has imposed a fine of Rs5.5 lakh on...

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Moneylife Digital Team 29 April 2013
Besides asking to protect bank depositors from inflation, the Association wants the RBI to extend insurance cover on bank deposits to Rs5 lakh from Rs1 lakh. The question, however, is who will pay the additional money? The All India Bank Depositors Association (AIBDA) on Monday said that...

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Moneylife Digital Team 22 April 2013
Aggregated data from credit card purchases are increasingly being used to target ads, direct marketing, observes ConsumerAffairs.com Consumers often get upset about being tracked around the Internet and being asked for their ZIP code at the check-out counter of a bricks-and-mortar...

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Moneylife Digital Team 12 April 2013
With the new “inactive account manager”, Google is trying to help deal with digital identities after the account holder's death or if s/he goes missing after a specified period Search engine giant Google has launched “inactive account manager”, a product that would help it to handover...

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Moneylife Digital Team 09 April 2013
An arbitrator asked BSNL to pay a compensation of Rs5,000 to a consumer for poor internet services The arbitrator of the Department of Telecommunication (DoT) has awarded a compensation of Rs5,000 to a consumer for providing poor internet services. Lucknow-based Amitabh Thakur, an...

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Moneylife Digital Team 03 April 2013
The consumer forum also directed the electricity supplier to recover the compensation from the staff and officials responsible for the harassment of a senior citizen   Amravati-based Consumer Grievance Redressal Forum (CGRF) has directed the executive engineer of Maharashtra State...

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