CONSUMER ISSUES


Moneylife Digital Team 29 January 2021
The Reserve Bank of India (RBI), while releasing a framework for strengthening grievance redress mechanism, has warned supervisory action against banks that fail to improve their redress mechanism in a time-bound manner. Last month Moneylife had written about how the RBI is winding up its...

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IANS 29 January 2021
The Haryana Real Estate Regulatory Authority (HRERA) has imposed a penalty of Rs2.25 crore against M/s SPS Homes Builders and Developers Pvt. Ltd, M/s Vistaar Group Pvt. Ltd. and M/s Royal Infra Buildtech Pvt. Ltd. for violation of Section 3(1) of the Real Estate (Regulation and Development)...

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Technological advances are often expected to benefit everyone. However, it appears that only fraudsters are becoming smarter, leaving common consumers an easy prey. Take, for example, the new fraud taking place where fraudsters are obtaining mobile numbers that are mostly similar to toll-free...

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Moneylife Digital Team 20 January 2021
With price differential widening to about 44%, the elevated prices of petrol due to a steep increase in taxes in the recent past is set to increase the adoption of compressed natural gas (CNG)-driven vehicles, says CRISIL.    The last time petrol prices had crossed the Rs80 per litre...

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Moneylife Digital Team/ IANS 20 January 2021
A working group set up by the Insurance Regulatory and Development Authority of India (IRDAI) has recommended linking of motor insurance premium to various traffic violations that range from parking in the no-parking areas to drunken driving.   As per the report, the motor insurance...

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Moneylife Digital Team 19 January 2021
After holding home-buyers as financial creditors as per the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Tuesday accepted an amendment in the IBC as constitutionally valid, which requires no less than 100 or 10% home-buyers to initiate insolvency against builder or developer....

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Moneylife Digital Team 19 January 2021
In a landmark judgement, the Maharashtra Real Estate Appellate Tribunal (MahaREAT) has directed the promoters of Palava Lakeside to refund with interest (at interest of 2% more than the marginal cost of funds-based lending rate—MCLR—of State Bank of India) money paid by two home-buyers, who...

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Moneylife Digital Team 18 January 2021
Cyber Dost, a twitter account managed by the union ministry of home affairs, has warned people about a new scam that informs on adding a nominee to their bank account. “Beware of such spoofed information. Such messages may be trick of cyber criminals to defraud you. Always verify from your...

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TruthInAdvertising.org 18 January 2021
From fairwashing to fragrance, consumers have plenty to watch out for in 2021.   Consumers have a lot to watch out for in terms of deceptive advertising trends in 2021. Here are five TINA.org will be keeping an eye on in the new year. (Not included on the list – but definitely...

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This is a very complex question, not only because it straddles an entire lifetime, but also because it has strong overtones of emotion, security and comfort which affect different people differently. Let me try to highlight some of the main factors for two groups of people – the newbie...

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Maya M 14 January 2021
The new Model Tenancy Act 2020, which is currently under discussions at the Centre, aims to bridge the trust deficit between tenants and landlords by clearly delineating the obligations of tenants and landlords. The draft Act seeks to ensure speedy redressal of disputes by proposing to...

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Moneylife Digital Team 14 January 2021
Maharashtra Real Estate Regulatory Authority (MahaRERA) recently passed an order directing a developer to pay interest since September 2006 (when the project ought to have been completed) on the total amount paid by a home-buyer for a flat in a high-rise at Kurla for failure to mention the...

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Moneylife Digital Team 14 January 2021
After the sterling groundwork of Telangana police, officials from across India are arresting app-based lenders, often linked to Chinese companies. Their ruthless recovery tactics have led to a dozen suicides and finally goaded the police into action. These ruthless lenders, charging usurious...

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Moneylife Digital Team 12 January 2021
In a recent order, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Conoor Builders to pay a home-buyer in its Gateway project at Andheri (West), interest at marginal cost lending rate (MCLR) of SBI plus 2% for a three-year delay in possession. According to the...

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Moneylife Digital Team 11 January 2021
Vehicle registrations in December 2020 recorded a growth of 11% largely due to festival spill-over demand and pre-buying due to the announcement of price hike in January 2021, says the Federation of Automobile Dealers Associations (FADA). At the same time, FADA expressed concern over...

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Moneylife Digital Team 08 January 2021
The Reserve Bank of India (RBI) has issued a cautionary warning regarding a fraudulent method of obtaining sensitive information using phone numbers.    The notice says that a fraud is being committed using mobile numbers similar to banks’ toll-free number. Mobile numbers resembling a...

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Moneylife Digital Team 08 January 2021
To boost real estate demand, the Maharashtra government has announced 50% reduction in premiums for the sector. This will be applicable to ongoing and new real estate developments till 31 December 2021. This new year bonanza comes in addition to extension of the stamp duty cut applicable in...

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Moneylife Digital Team 07 January 2021
Record low interest rates, affordable prices and sucpportive government policies are responsible for the spurt in demand for new homes in recent months – it is not pent-up demand, said Deepak Parekh, Chairman of Housing Development Finance Corporation (HDFC) Ltd on Tuesday. He was speaking at...

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Moneylife Digital Team 07 January 2021
On Tuesday, Union minister for housing and urban affairs, Hardeep Singh Puri, released a report prepared by Moneylife Foundation to document the efficacy of Real Estate Regulation and Development Act, 2016 (RERA) in India from the consumer perspective. The research project, made possible due...

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IANS 06 January 2021
India suffered the longest internet shutdowns in 2020 for the second year running globally, bearing the biggest economic impact of $2.8 billion and 8,927 hours lost, affecting 10.3 million users in total, a new report from the UK-based privacy and security research firm Top10VPN has...

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