CONSUMER ISSUES


Moneylife Digital Team 16 December 2021
When it comes to the prices of essential items, consumers are always at the wrong end and have to grin and bear steadily rising prices. This applies even to the prices of liquified petroleum gas (LPG), which the Union government modulates. Over the past three years, the prices of LPG were...

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IANS 15 December 2021
Banking operations in India will be affected on December 16-17 with about 10 lakh bank employees going on strike to protest privatisation of government banks.   The strike call was given by the United Forum of Bank Unions, an umbrella body of nine unions in the banking...

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Moneylife Digital Team 15 December 2021
Since the introduction of FASTag in financial year (FY)16-17, Rs1.19 lakh crore were collected as user fee collection at the fee plazas of National Highways Authority of India (NHAI), the Union government told the Rajya Sabha.   In a written reply, Nitin Gadkari, Union...

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Moneylife Digital Team 14 December 2021
The burden of inflation varies across different income groups, as the share of spending on food, fuel and core categories differs across classes. During November 2021, the urban poor continued to face maximum inflation, says a research note.   In the report, rating agency CRISIL says,...

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IANS 13 December 2021
Meta-owned WhatsApp has brought in a new privacy update to prevent unknown contacts to see a user's last seen and online status. This new feature has been reportedly rolled out for both Android and iOS enabled devices.   As per a report by WABetaInfo, some third party apps from Google...

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Moneylife Digital Team 13 December 2021
Several media reports highlight that online or digital lending platforms are virtually an extortion racket, charging an exorbitant interest rate from naive people. It was alleged that the interest rate goes up to 500% per annum along with arbitrary upfront processing fees up to 30%. As of...

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IANS 13 December 2021
High prices of automobiles are likely to persist at elevated levels even during 2022, said Grant Thornton Bharat in a report.   Lately, increasing cost of commodities in India has resulted in record-high prices for new and used vehicles in the country.   "It is expected that...

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IANS 08 December 2021
The Supreme Court on Tuesday held that the National Consumer Disputes Redressal Commission (NCDRC) can direct the deposit of the entire amount or more than 50 percent determined by the state commission for conditional stay.   A bench of Justices M.R. Shah and B.V. Nagarathna said:...

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IANS 03 December 2021
Hackers have stolen crypto tokens worth $120 million from Blockchain-based decentralised finance (DeFi) platform BadgerDAO. Several crypto wallets were drained before the platform could stop the cyber attack.   In a tweet, Badger said it has received reports of unauthorised...

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IANS 02 December 2021
A significant report from a US-based nonprofit organisation has claimed that Amazon is exploiting its position as a gatekeeper to impose steep and growing fees on third-party sellers, raking in big moolah.   In 2019, Amazon pocketed $60 billion in seller fees and this year, its take...

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IANS 01 December 2021
The US consumers spent a total of $33.9 billion online, from Thanksgiving Day through Cyber Monday, down 1.4 per cent (on-year) as Black Friday dipped 1.3 per cent at $8.9 billion vs $9 billion last year while Thanksgiving Day online sales stayed flat at $5.1 billion.   According to...

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IANS 30 November 2021
Chief Minister Pramod Sawant on Tuesday revealed how he almost fell for a voice phishing scam, when an unknown caller almost made him reveal his Aadhaar card number, claiming that his bank account would be frozen if the detail was not furnished immediately.   "It can happen to anyone....

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TruthInAdvertising.org 30 November 2021
As we head into the craziness of the holiday shopping season, consumers need to be wary of fake reference prices. These are prices that retailers make up to create the illusion of savings and they are at the center of a recent trend in class-action litigation.   In reality, the...

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Moneylife Digital Team 29 November 2021
Depositors of 17 cooperative banks placed under the all-inclusive directions (AID) will receive up to Rs5 lakh from the deposit insurance & credit guarantee corporation (DICGC) from 29 November 2021 onwards. On 1 September 2021, the Union government had notified the provisions of the DICGC...

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IANS 29 November 2021
After Bharti Airtel and Vodafone Idea, telecom major Reliance Jio said it would raise tariffs for its prepaid users by around 20 per cent.   The revised tariffs will come into effect from December 1, the telecom major said.   The announcement by Reliance Jio comes few days...

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Shrirang Samant 26 November 2021
With the increasing financialisation of the economy, banks have started aggressively selling a number of financial products to their customers as mutual funds (MFs) and insurance policies. This article analyses the practice of banks selling complex life insurance products to their customers,...

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Moneylife Digital Team 26 November 2021
From southwest to northeast, monsoons have pushed vegetables into an unsavoury stew. First came the erratic and often copious summer spells that delayed arrivals at mandis and lit up prices. Then, the northeast variant rained pain. With cumulative rainfall between 1st October and 24 November...

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IANS 26 November 2021
From daily essentials like tomatoes, milk as well as edible oils to transport fuels, rising prices have hampered the financial health of ordinary middle class families in India.   The trend has not only hurt the economically weaker section of the society but has lately been cited to...

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Moneylife Digital Team 19 November 2021
A working group (WG) of the Reserve Bank of India (RBI) has recommended separate legislation to prevent illegal digital lending activities. The WG, headed by Jayant Kumar Dash, executive director (ED) of RBI, also recommended enhancing customer protection and making the digital lending...

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IANS 18 November 2021
In India, the most popular password is "password" and not "123456" as has been widely speculated. Interestingly, Japan is the only other country that had the same top password as India, new research showed on Thursday.   Other common passwords people use in India are "iloveyou",...

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