CONSUMER ISSUES


Moneylife Digital Team 07 April 2021
The National Consumer Dispute Redressal Commission (NCDRC) has dismissed a complaint against Vishakhapatnam-based Care Hospital’s Institute of Medical Sciences, and its doctors including a cardiologist Dr GSR Murthy and general physician Dr Swaroopa Rani and held that there was no deficiency...

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Reserve Bank of India (RBI)  Governor Shaktikanta Das on Wednesday put onus on the Centre as well as states to ensure that through coordinated policy measures the cost build-up in the petroleum products does not escalate further.   While seeking a cut in excise and VAT (value added...

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Resurgence of Covid infections along with re-imposition of partial travel restrictions in some major states has triggered a clamour among a section of airlines for reduction of flight capacity.   Accordingly, industry insiders contend that rising cases have severely impacted demand...

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Contributions made by home-owners of a cooperative housing society (CHS) towards a sinking fund meant for future upkeep of the society will be subject to the goods and services tax (GST).   The Karnataka Authority for Advance Rulings (AAR) has held that such contribution towards the...

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SIddhi Jain (IANS) 05 April 2021
A survey on the state of financial literacy among teens shows that Gen Z is interested in personal finance and investing, but they lack confidence and want more financial education.   Key insights from the Greenlight survey reveals 3 out of 4 teens don't feel confident or...

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As a consumer, you can book more than 12 refills of liquefied petroleum gas (LPG) and there is no waiting period of 14 days between two bookings, a reply received under Right to Information (RTI) shows. This clarification will give a relief for lakhs of domestic LPG customers, who are...

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Moneylife Digital Team 01 April 2021
Paying heed to concerns raised by several bodies over possible failure of millions of e-mandates or auto-debits with many banks not upgrading their capacities, the Reserve Bank of India (RBI) has extended the timeline by six months.   In a release, the RBI says, "The delay in...

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Moneylife Digital Team 30 March 2021
Millions of e-mandates or auto-debits set up by customers for paying utility bills and subscriptions could fail from 1 April 2021, with many banks not upgrading their capacities, warns Internet and Mobile Association of India (IAMAI). The Association points to a circular issued by the Reserve...

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The Food Safety and Standards Authority of India (FSSAI) has made it mandatory for manufacturers of packaged drinking water and mineral water to take BIS certification for obtaining license or registration from the regulator.   The FSSAI on Friday said that FBOs(Food Business...

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The Reserve Bank of India (RBI) on Friday extended the restrictions on the withdrawal and deposits in the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank till June 30.   The Maharashtra-based cooperative bank was placed under restrictions with effect from close of business on...

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Moneylife Digital Team 26 March 2021
With March 2021 marking the one-year anniversary that the World Health Organization declared COVID-19 a pandemic, an analysis shows COVID-19 vaccine-related phishing attacks rose by 530% between December 2020 to February 2021. Criminals also set up fake websites of Pfizer and BioNTech steal...

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Moneylife Digital Team 26 March 2021
While banks and other financial institutions offer nomination facility for customers, there is no provision for successive nomination like what the insurance companies provide. Looking at the changing circumstances, the Reserve Bank of India (RBI) needs to take a proactive step and introduce...

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Moneylife Digital Team 25 March 2021
While online or digital payments have been on a rise especially after the spread of the COVID19 pandemic in India, it is observed that these frauds are taking place through social engineering techniques like vishing and phishing, says the government. During FY2019-20, banks have reported...

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Moneylife Digital Team 24 March 2021
Amidst the rampant mis-selling of insurance policies to customers, the government says, there were 316 complaints of mis-selling of life insurance and ICICI Prudential Life Insurance Co had refunded Rs2.93 crore in 254 cases. Further, the insurance company also refunded full amount to a...

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Moneylife Digital Team 24 March 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to be more transparent in their health insurance claim settlement process and apprise the policyholders of reasons in case of denial of claims filed. The insurance regulator has asked the insurance...

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Moneylife Digital Team 24 March 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has allowed life insurance companies to continue issuing policy documents in electronic format and permitted them to dispense with the requirement of getting customers’ wet signature on the proposal forms till 30th...

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Banking consumers may face difficulties in getting services from March 27 to April 4 as all banks in the country will largely stay closed or offer curtailed services as the institutions switch to the new financial year. However, customers do not have to worry as ATMs, mobile banking and...

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Moneylife Digital Team 23 March 2021
The Supreme Court on Tuesday rejected all pleas that were seeking complete waiver of interest on loan during the moratorium period granted due to COVID-19 pandemic. While refusing to interfere with the government and Reserve Bank of India (RBI)'s policy on loan moratorium, the apex court...

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By the turn of this month, it would be one year since the mega merger of 10 public sector banks (PSBs) into four was put into force. After the Union government announced its decision in August 2019, these PSBs were doing the ground work for the actual integration of the six merging banks...

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The central government on Friday urged the Delhi High Court to restrain WhatsApp from implementing its new privacy policy.   "It is humbly prayed that the Respondent No. 2 [WhatsApp] may be restrained from implementing its new privacy policy and terms of service dated 04.01.2021 from...

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