CONSUMER ISSUES


A recent speech by the Reserve Bank of India (RBI) deputy governor SS Mundra made news mainly for one comment—that RBI was examining whether to issue regulatory directions to limit customer liability for electronic banking transactions and credit card fraud.    While this is a welcome...

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A lawyer died  His wake was big,  The cortege long.  Seems that he had  Done no wrong.  He lay in state,  Seemed free of sin, But in hand, each mourner,  Had a pin.  Each pricked the corpse,  No word was said, They just made sure,  The man was...

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People tend to buy pricy goods in order to avoid the feeling of regret they might have if the same goods become unavailable in future, researchers have found.   Consider someone finds a jacket in a store but due to its price, he thinks whether he should wait and hope it goes on sale...

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Ford India on Friday said it is recalling around 48,700 EcoSport vehicles to fix potential safety concerns.   In a statement, Ford India said it is issuing two voluntary recalls. "The first recall covers approximately 48,000 EcoSport diesel vehicles, made between April 2013 and June...

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The Indian telecom watchdog on Thursday floated a consultation paper in an effort to explore transparent models that can achieve benefits of free data.   “This consultation paper is being issued to explore model(s) that could achieve the benefits of offering free data while avoiding...

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Vishal N Kalsaria had taken a loan from Bank of India against the mortgage of several properties belonging to him in which the appellant Harshad Sondagar was a tenant. The loan turned bad. The Bank filed an application before the chief metropolitan magistrate (magistrate), Mumbai, under the...

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Moneylife Digital Team 17 May 2016
The latest Indian crash test results from Global NCAP released on Tuesday continue to disappoint with all five models rated as zero star. The Renault Kwid, Maruti Suzuki Celerio, Maruti Suzuki Eeco, Mahindra Scorpio and Hyundai Eon all showed low levels of adult occupant...

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The Supreme Court on Wednesday struck down a Telecom Regulatory Authority of India (TRAI) notification obligating telecom service providers (TSPs) to compensate consumers for dropped calls.   Striking down the notification dated October 16, 2015, an apex court bench of Justice Kurian...

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Moneylife Digital Team 10 May 2016
"The builders and promoters adopt a Fabian policy (a dilatory policy) and harass the consumers no end. The consumers are exasperated by senseless delays. Hopefully, the new changes made recently, would go a long way to pull the consumers chestnuts out of the fire (rescue from difficulties),"...

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Meghna Mittal (IANS) 05 May 2016
New Delhi : If you wish to watch a movie at an odd hour, grab a bite or even shop at a mall, the rules at least won't come in the way. A model law the government is proposing for states to replicate will allow such establishments to operate round the clock.   "We are preparing a model...

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New York : Overturning a common perception that herbs are safe because they have been used for many years, researchers have warned that long-term use of herbal remedies is no guarantee of their safety as many herbs may contain toxic or carcinogenic substances.   In a commentary...

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According to the information provided to parliament, 823,265 samples were taken during the year and 74,010 of them were analysed. Out of that 14,599 were found to be adulterated or misbranded   Nearly 20 percent of analysed alcohol samples from across the country were found to be...

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This follows a similar move for one emergency '112' number for availing services of police, ambulance and fire department   In a bid to make a mobile phone handset an effective tool for self protection, especially for women, the government has said no such device will be sold from...

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New Delhi : Taking cognisance of rising complaints of online and teleshopping buyers, the new Consumer Protection Bill, expected to be passed in the coming session of parliament, has all the essential features to protect the interest of online consumers, an official said here on...

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The new real estate law should make a difference   The plight of property buyers in India is terrible. As it is, only a small percentage of the population can afford to buy their own dwelling units. Flat-buyers not only put all their savings into booking an apartment but also take...

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Kejriwal warned of strict action against online cab aggregators, specially Ola and Uber, over arbitrary surge pricing, a technique used by the cab aggregators to hike the fares owing to higher demand   Online cab service providers Uber and Ola on Monday suspended their surge pricing...

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Moneylife Digital Team 18 April 2016
MCA has responded to Moneylife Foundation's survey and memorandum of 1,500 plus complaints by asking the SFIO to examine non-payment of FDs by Helios & Matheson. In case of Jaiprakash Associates, Unitech and Plethico, the MCA has asked ROC to examine findings from the Moneylife...

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Chennai : A wilful defaulter of a Rs.9,000 crore bank loan can be a member of parliament but a poor student who had defaulted on education loan due to economic/family circumstances is barred from applying for a clerical job in State Bank of India (SBI), which is obnoxious, said a top bank...

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The NSSF invests its net collection as loans to central, state and union territory governments   The National Small Savings Fund (NSSF) loan rate to the Centre as well as states has been lowered to 8.8% from 9.5% following a recent cut in small savings interest rates, an official...

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Moneylife Digital Team 13 April 2016
While the government is busy patting itself on high enrolment for Aadhaar identities, there seems to be a lack of focus on validation of the database. This is providing fraudsters a quick new opportunity to loot Aadhaar-linked users of new age payment wallets   Micro payment systems...

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