CONSUMER INTEREST


People seem shocked at the disclosure that only the public sector banks (PSBs) had collected Rs10,000 crore as penalty from customers for not maintaining a minimum balance in their savings account and for cash withdrawals beyond three times. This data would not have come into public domain...

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IANS 28 December 2018
A parliamentary panel has recommended to the government not to allow airlines to charge high fares during the festive and holiday seasons in the name of deregulation.   "... The committee has taken a very strong view and the committee notes specially that during vacations and...

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Moneylife Digital Team 27 December 2018
In landmark judgments, banks have been held as responsible for failed transactions and lack of cash in ATMs, a consumer court, has ruled.   With increased use of automatic teller machine (ATMs), many cases are being reported about non-availability of cash and failed transaction in the...

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IANS 27 December 2018
New Delhi, The government on Wednesday tightened e-commerce norms and barred online retail firms like Amazon and Flipkart from selling products of companies in which they have stakes, Ministry of Commerce and Industry said in a statement.   The online retail firms (e-commerce...

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Moneylife Digital Team 26 December 2018
A number of bank customers, especially credit card users are reporting fraudulent money transfer from their account without fulfilling the two-factor authentication (2FA) or without the one-time passcode (OTP) mandated by the Reserve Bank of India (RBI). According to technology experts, the...

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TruthInAdvertising.org 26 December 2018
This article highlights a trend in class-action litigation as identified by our Class-Action Tracker. Thus the name of this feature, CATrends.   If there’s a white chocolate lover on your holiday shopping list, be forewarned: Not all white chocolate is the real deal.   That’s...

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IANS 22 December 2018
Computer monitors, TV screens, video games, lithium-ion power banks, retreaded tyres, wheelchairs and cinema tickets are among products and services set to get cheaper as they have been removed from the highest 28 per cent bracket under the Goods and Services Tax (GST) regime, Finance...

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Moneylife Digital Team 22 December 2018
Public sector banks (PSBs) have collected more than Rs10,000 crore over the past three years from customers as penalty for not maintaining minimum balance in saving bank account and as charges for additional transactions on automated teller machines (ATMs) beyond the permitted free...

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Varsha Raut 21 December 2018
With the Supreme Court upholding the new tariff regime proposed by the Telecom Regulatory Authority of India (TRAI), consumer viewers can now select the television channels they want to watch and pay the maximum retail price (MRP) set by the respective broadcasters for the channel or...

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When it comes to bank-related problems, there are no class barriers—each one of us is equally at risk and at the mercy of abysmal grievance redress system. Consider the stories of these two harried bank customers that Moneylife Foundation has been trying to help.    Prakash Awadhesh...

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IANS 20 December 2018
The Consumer Protection Bill 2018 was passed by the Lok Sabha on Thursday amid slogan shouting by the Opposition.   Moving the Bill for its passage, Union Minister for Consumer Affairs Ramvilas Paswan said the Bill was non-controversial and was in the interest of the...

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Moneylife Digital Team 19 December 2018
Dr Ajay Sood, a non-resident Indian (NRI) based in the US has been given the run-around for over four months by Bank of India (BOI) after he found that Rs1.33 crore had suddenly vanished from his account. Today, the Indian Express reports that the police in Chandigarh had arrested two people...

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Moneylife Digital Team 18 December 2018
The Consumer Complaints Council (CCC) of the Advertising Standards Council of India (ASCI) has banned as many as 558 advertisements out of 590 complaints it received across segments during August and September 2018.    Of the 355 advertisements where the complaints were upheld, 201...

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Anuj Puri 18 December 2018
Under the Goods and Services Tax (GST) Act, GST for under-construction properties was 12% while ready-to-move-in flats were kept out of the GST ambit.   Even for under-construction properties, there was a ruling of input tax credit (ITC) pass-over to the buyer to ensure that it...

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IANS 17 December 2018
The Madras High Court on Monday banned the sale of medicines online till the central government notifies the regulations.   The court set January 31, 2019 as the deadline for the central government to notify the rules.   The court passed the order on a plea by the Tamil Nadu...

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Moneylife Digital Team 14 December 2018
With the holiday shopping season in full swing, consumers will be buying the latest emerging tech such as smart speakers, smart home devices and smart watches.   Nothing spoils the holiday cheer more than having some kind of security or privacy problem related to your new gadget....

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IANS 13 December 2018
Google on Thursday said it has revamped its shopping search features to make the experience more personal and allow users to easily filter through offers, review prices from multiple retailers and find the products they are looking for.   The new experience is available via a...

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A life insurance policy is bought on the simple premise that if the policyholder dies suddenly, his/her legal heirs or nominees will get the policy proceeds. Since the policyholder is, usually, the family’s bread-earner or significant contributor, the proceeds help the family deal with the...

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TruthInAdvertising.org 11 December 2018
The rise of Ciroc from a middling vodka brand to No. 2 in the premium vodka category in the U.S. can be tied in large part to one man: Sean “Diddy” Combs.   Before the hip hop mogul signed a marketing deal with the Diageo-owned brand in late 2007, the British-based liquor giant was...

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Moneylife Digital Team 05 December 2018
With the digital mode for financial transactions gaining traction in the country, there is an emerging need for a dedicated, cost-free and expeditious grievance redressal mechanism for strengthening consumer confidence in this channel. India is one of the few countries to have separate...

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