CONSUMER ISSUES


Although e-bikes or two-wheelers have been slowly making their presence felt with active encouragement from the government, the Independence Day launch of Ola Electric’s S1 and S1 Pro at Bengaluru created a buzz reminiscent of the launch of the Nano car 12 years ago. Ratan Tata has a personal...

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IANS 17 August 2021
It may seem amusing but your good old car seat cover is not actually a "part" of the seat but an "accessory", at least, in the eyes of the tax department.   In an assessment, the Andhra Pradesh Authority for Advance Ruling (AAR) has turned down the plea of an applicant to term the car...

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Moneylife Digital Team 16 August 2021
The Delhi High Court has issued notices to 12, including Union government and C&C Towers Ltd, in a writ petition filed by 94 financial creditors of the company.    In her order issued last week, justice Rekha Palli observed that these 94 financial creditors of C&C Towers had...

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Moneylife Digital Team 16 August 2021
"Although cases, where home-buyers are left in the lurch due to developers filing for bankruptcy, might seem like the end, such cases can be resolved through a clear understanding and consensus among the affected home-buyers.   "Individual battles will not help, a collective effort is...

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Moneylife Digital Team 14 August 2021
The Reserve Bank of India (RBI) has cancelled licence of Panvel-based Karnala Nagari Sahakari Bank as the bank does not have adequate capital and earning prospects. RBI says 95% of depositors of the bank will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee...

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IANS 11 August 2021
The Supreme Court on Wednesday took strong objection at vacancies in state consumer disputes redressal commissions, saying that the states are defeating laws enacted for welfare of people.   What is purpose of creating posts and not filling them, it said, asking all states and Union...

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Moneylife Digital Team 11 August 2021
Indian banking customers are being targeted by a new type of phishing attack using the ngrok platform (a web service provider). The malicious actors have abused the ngrok platform to host phishing websites impersonating internet banking portals of Indian banks. Using these phishing websites,...

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IANS 04 August 2021
India has till date operationalised 361 air routes under the regional connectivity scheme 'Ude Desh Ka Aam Nagrik' or RCS-Udan.   The scheme was launched in 2016. Under it, airlines are provided with a 'Viability Gap Funding' to keep fares affordable and accessible.   "Till...

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IANS 03 August 2021
To safeguard the interest of its customers, the State Bank of India (SBI) has launched a new security feature -- SIM Binding in YONO and YONO Lite.   The new version of these platforms will protect customers from various digital frauds. With the SIM Binding feature, YONO and YONO Lite...

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Moneylife Digital Team 30 July 2021
As if the pains caused by the coronavirus (COVID) pandemic were not enough for businesses, banks from across the country are either freezing or closing current accounts of customers.   Banks are citing a circular issued by the Reserve Bank of India (RBI) in August 2020 titled 'Opening...

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Moneylife Digital Team 30 July 2021
The Reserve Bank of India (RBI) has cancelled the license of Goa-based Madgaum Urban Cooperative Bank, with effect from 29 July 2021. This bank is latest to add to a long list of badly-run banks whose licenses have been cancelled by the RBI after their poor performance.   The banking...

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When we Indians are so proud of our information technology (IT) prowess and the many global tech giants headed by Indians, why isn’t cutting-edge technology being employed to refund money that rightfully belongs to savers and investors? The amount of money lying with the government, in the...

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Moneylife Digital Team 28 July 2021
With the Union cabinet clearing the Deposit Insurance & Credit Guarantee Corporation (DICGC) Bill 2021, depositors can expect to receive their money back within 90 days from Reserve Bank of India (RBI) declaring moratorium on their bank.    In a media briefing, finance minister...

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Moneylife Digital Team 28 July 2021
Expressing serious concern over the mandatory hallmarking of jewellery, the National Task Force says, the Bureau of Indian Standards (BIS) cannot change the tradition and fabric of the jewellery industry by putting the livelihood of lakhs of jewellers at stake and thus affect crores of...

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In major changes to e-commerce rules, the Ministry of Consumer Affairs has specified that an e-commerce marketplace entity shall not sell any goods owned or controlled by it on such e-commerce marketplace platform. All the sellers on the platform shall only be third party sellers, and no...

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Moneylife Digital Team 20 July 2021
Aiming to douse social media claims that Cadbury products contain beef, the chocolate maker clarified that this is not true and that all its products manufactured and sold in India are 100% vegetarian.    In a series of tweets, Mondelez/Cadbury says, "The screenshot shared in...

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Moneylife Digital Team 20 July 2021
The Consumer Disputes Redressal Commission at Punjab, has upheld an order penalising a holiday club for unfair trade practices. Genial Holiday Club offered holiday accommodations at various locations.   In September 2019, the district consumer forum had (in an ex-parte order) ordered...

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Moneylife Digital Team 20 July 2021
If the travelling ticket examiner (TTE) is missing from the train coach, it is to be construed as deficiency in service as per the Gondia District Consumer Disputes Redressal Forum, which has imposed a penalty of Rs30,000 on Indian Railways.   The bench of president Bhaskar Yogi and...

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Moneylife Digital Team 19 July 2021
While consumers are reeling under the ever-increasing prices of petrol, diesel and domestic liquified petroleum gas (LPG) cylinders, the Union government and State-run oil marketing companies (OMCs) are earning higher revenues and profits, shows data submitted in the Lok Sabha. As on Monday,...

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Moneylife Digital Team 16 July 2021
India’s largest state-run lender State Bank of India (SBI) has issued a warning about ‘phishing links’ to its customers. SBI has alerted its customers not to click on links containing ‘gift from the national bank’ and ‘freebies’ if received on their mobile number or email ID. SBI disclosed...

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