CONSUMER ISSUES


Moneylife Digital Team 03 December 2024
Expressing concern over the rising sums of money lying in inoperative or frozen bank accounts, the Reserve Bank of India (RBI) says its supervisory inspections have revealed a slew of problems due to which accounts are becoming inoperative or frozen. The central bank has asked banks to...

Read More



Moneylife Digital Team 29 November 2024
Holding State Bank of India (SBI) responsible for not personally informing the borrower about withdrawing free personal accident insurance cover, the national consumer disputes redressal commission (NCDRC) directed SBI to waive the home loan outstanding of Rs14.30 lakh and pay Rs75,000 as...

Read More



While the number of cyber fraud incidents is increasing, what is more worrisome is how easily criminals are duping senior citizens. A 75-year-old man lost over Rs11 crore in Mumbai's second biggest cyber fraud of 2024 after sending money to different bank accounts to invest in the stock. In...

Read More



Chandramouli Mohan 29 November 2024
Travelling abroad is meant to blend adventure and relaxation, a break from the daily grind. But for Mr Nagaraj (name changed), his recent vacation to a Southeast Asian country became an unintended saga of tech troubles and unanticipated legal battles, all thanks to a botched international...

Read More



Vrunda, a friend, often thought her mobile phone had become relatively slow. When she asked around on social media, someone suggested that she download a mobile cleaning app to remove unnecessary and junk files from the device. She searched and downloaded a mobile cleaning app that looked good...

Read More



Shirish Shanbhag 28 November 2024
Navigating the rules and regulations of a cooperative housing society (CHS/Society) can often feel overwhelming, especially when it involves shared facilities and rights such as parking spaces or access to amenities like gyms. This week, we address some common yet challenging scenarios faced by...

Read More



Moneylife Digital Team 26 November 2024
Even as the number of payment transactions through unified payment interface (UPI) are increasingly rapidly so are the frauds. From financial year (FY) 22-23 to September 2024, UPI fraud incidents jumped to 2.7mn (million) or 26.99 lakh cases worth Rs2,145 crore, the Lok Sabha was...

Read More



Sahyaja MS (Bar  and   Bench) 26 November 2024
A District Consumer Redressal Commission in Mumbai recently ordered e-commerce platform Flipkart India and the seller of the product to pay Rs10,000 in costs to a woman after she was unable to return a food product which she claimed was substandard (Taruna Rajput v Flipkart India).   A coram...

Read More



Imagine someone handing you a gun and asking you to shoot your own foot for a handsome reward. Will you do it? Most unlikely. However, this is exactly what is happening in cyberspace. One of the most alarming trends is the rise of 'scam-yourself attacks'—an advanced social engineering tactic...

Read More



SN Thyagarajan (Bar  and   Bench) 21 November 2024
The National Company Law Appellate Tribunal (NCLAT) on Thursday passed an order confining the insolvency process initiated against Raheja Developers to its 'Shilas Low Rise' project.   A coram of Chairperson Justice (retd) Ashok Bhushan and Technical Members Barun Mitra and Arun Baroka thus...

Read More



Shirish Shanbhag 21 November 2024
This week's column addresses a range of issues faced by cooperative housing society (CHS/Society) members, including challenges related to redevelopment projects stalled by government orders, concerns over misbehaving security guards and governance issues such as the timely conduct of annual...

Read More



Bhavini Srivastava (Bar  and   Bench) 20 November 2024
The Delhi High Court recently directed the State Bank of India (SBI) to compensate a bank customer who was a victim of a cyber attack that had led to the withdrawal of 2.6 lakhs from this savings account (Hare Ram Singh vs. Reserve Bank of India & Ors.).   The customer, Hare Ram Singh told...

Read More



SN Thyagarajan (Bar  and   Bench) 20 November 2024
The National Company Law Tribunal (NCLT) on Tuesday admitted Raheja Developers Limited to the Corporate Insolvency Resolution Process (CIRP) after a plea was filed by homebuyers over non-delivery of homes.   The Tribunal has appointed an Interim Resolution Professional (IRP), tasked with...

Read More



Moneylife Digital Team 20 November 2024
Reserve Bank of India (RBI) has issued a cautionary alert regarding fake videos circulating on social media. These videos falsely depict top officials, including the RBI governor, offering financial advice or endorsing investment schemes. Created using advanced deepfake technology, these...

Read More



Moneylife Digital Team 19 November 2024
The Competition Commission of India (CCI) has imposed a penalty of Rs213.14 crore on Meta for abusing its dominant position while implementing a privacy policy update in 2021 on WhatsApp and collecting and sharing user data with other group companies. CCI also directed WhatsApp not to share...

Read More



Moneylife Digital Team 18 November 2024
Refuting HDFC Standard Life Insurance Company Ltd's contention that the deceased life insured (DLI) failed to disclose pre-existing medical conditions, the national consumer disputes redressal commission (NCDRC) ruled that the DLI died due to head injury in a road accident which is independent...

Read More



Moneylife Digital Team 15 November 2024
One fine day, Bengaluru-based M Ramachandran (name changed), a senior citizen who retired as an official from Reserve Bank of India (RBI), found his account in State Bank of India (SBI) frozen for want of renewal of his know-your-customer (re-KYC). After visiting SBI three times, he was finally...

Read More



In the last week of October, I started receiving three missed calls every day from four different US numbers (all from Miami, to be precise). It continued for four days. I do not have any relatives, friends or colleagues staying in Miami, so three daily calls made me suspicious. When I checked...

Read More



Shirish Shanbhag 15 November 2024
Cooperative housing societies (CHS/Society) often encounter unique legal and procedural challenges when managing shared property and making collective decisions. Conflicts of interest, membership transfers and redevelopment projects can lead to complex situations that require careful handling,...

Read More



Moneylife Digital Team 12 November 2024
While upholding rulings by fora below, the national consumer disputes redressal commission (NCDRC) directed Axis Bank Ltd to pay Rs5 lakh compensation and Rs50,000 cost of litigation to the borrowers, whose truck was possessed and then sold by the lender.    In an order last week, the NCDRC...

Read More

Free Helpline
Legal Credit
Feedback