CONSUMER INTEREST


IANS 05 December 2019
The Reserve Bank of India (RBI) will introduce a new type of prepaid payment instrument (PPI) which could be used only for purchase of goods and services up to a limit of Rs 10,000.   Accordingly, the loading of such PPI will be only through a bank account and it could be used for...

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Farhan Shaikh 05 December 2019
Over the past few days, customers of HDFC Bank are unable to access its net banking facility. Many of them stormed social media, like Twitter, with complaints that its online banking site and the app were not operational or working properly.   HDFC Bank says it has rectified the...

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In over 19 years of its existence, the Deposit Insurance and Credit Guarantee Corp (DICGC) has never ever asked for inspection of any bank or financial institution insured with it, despite the fact that cooperative banks seem to fail at the rate of about one every month.    The DICGC...

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Moneylife Digital Team 04 December 2019
Strange as it may sound, the Telecom Regulatory Authority of India (TRAI) does not know if telecom services-providers are enforcing tariffs for unsolicited data package along with voice service on subscribers.    Ravi Shankar Prasad, minister of communications, law & justice and...

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IANS 04 December 2019
As HDFC Bank customers stormed Twitter with complaints that its online banking site and the app were not operational or working properly, the bank on Tuesday said it regretted the inconvenience to customers, and its experts were on the job to resolve the glitch.   "We apologise that...

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Moneylife Digital Team 03 December 2019
The Justice RM Lodha (retd) Committee appointed in the PACL Ltd matter has decided to allow investors or applicants with claims of up to Rs5000 to rectify deficiencies found in their applications. The Committee, however, has not given any date or more details about the rectification process....

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Partially ending the free call regime, major telecom operators Reliance Jio, Vodafone Idea, and Bharti Airtel have increased pre-paid tariff by more than 40% across the recharges. However, operators are trying to compensate customers with enhanced data and other services. While Jio has...

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TruthInAdvertising.org 02 December 2019
TINA.org investigates what's behind the cruelty-free logos on the labels of cosmetic products.   When it comes to cosmetics claims, a 2015 Nielsen survey found that nothing is more important to consumers than the phrase “not tested on animals.”   But without a legal definition...

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Maya M 28 November 2019
Ever since the Union minister for road transport & highways, Nitin Gadkari, directed National Highway Authority of India (NHAI) to issue free of cost FASTags to people till 1 December 2019, the move has led to a lot of confusion among commuters over the payments.    This is because...

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Moneylife Digital Team 27 November 2019
The giant State Bank of India (SBI), a public sector undertaking, is fast earning the distinction of coming up with a myriad ways of extracting penal charges from customers.    After experimenting with levying charges for cheque payments on credit card dues below Rs2,000, SBI Card, a...

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IANS 21 November 2019
WhatsApp snooping via Israeli spyware Pegasus has shown smartphones have become new-age surveillance tools and now, security researchers have identified that selfie camera in your smartphone can easily spy on you.   According to Erez Yalon and Pedro Umbelino, security researchers at...

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IANS 20 November 2019
State-run construction major NBCC (India) in its resolution plan for the insolvent Jaypee Infratech (JIL) has said it would pay a total of Rs 62.40 crore to those homebuyers who have sought refund of their consideration amount towards allotment of flats instead of the delayed...

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I have been a customer of the Indian Oil-owned petrol pump, opposite the famous Siddhivinayak Temple (Mumbai), for decades. When I drove in on Sunday, 17th November at 11am, there was the usual query to check for engine oil and coolant. Since I had noticed that the coolant level looked rather...

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Moneylife Digital Team 19 November 2019
The Reserve Bank of India (RBI) on Tuesday informed the Bombay High Court that it has been progressively relaxing withdrawal limits for depositors of Punjab and Maharashtra Cooperative Bank (PMC Bank), and those having medical emergencies, marriages and other hardships, can approach the...

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IANS 19 November 2019
The ongoing telecom crisis is set to hit the customers hard with two of the country's largest telcos -- Bharti Airtel and Vodafone -- deciding to hike tariffs from December 1 after they posted historic losses on account of provisioning for the AGR pending dues.   In what smacks of...

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Moneylife Digital Team 19 November 2019
Even as the finance minister has announced plans to increase deposit insurance and bring in a Bill to re-introduce the ‘bail-in’ clause, the All India Bank Employees' Association (AIBEA) has demanded scrapping of such insurance cover for public sector bank (PSB) deposits.   CH...

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IANS 18 November 2019
Vodafone Idea Ltd (VIL) on Monday said that it will "suitably increase the prices of its tariffs" from December 1.   "The acute financial stress in the telecom sector has been acknowledged by all stakeholders and a high level Committee of Secretaries (CoS) headed by the Cabinet...

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IANS 18 November 2019
After Assam, suspected cybercriminals from Turkey have stolen huge amounts of cash from ATMs through ATM-cloning devices installed in Tripura's capital Agartala, police said on Monday.   According to the police, banks and other sources, over 60 bank customers of different banks mostly...

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Moneylife Digital Team 15 November 2019
The management of fraud-hit Punjab and Maharashtra Cooperative Bank (PMC Bank) is seeking consent from credit societies, cooperative housing societies (CHS) and other institutions from the cooperative sector that they will not withdraw their bank deposits for next three years. This follows a...

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Moneylife Digital Team 14 November 2019
The Mumbai police has finally registered a first information report (FIR) against The Hongkong and Shanghai Banking Corp Ltd (HSBC) India, its former chief executive officer (CEO) Stuart P Milne, Priya Paul, relationship manager and several top officials of the Bank and its subsidiary,...

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