CONSUMER ISSUES


Pramod Kumar Jha (IANS) 31 March 2020
As grocery stores, across the country, are grappling with panic buying and dwindling supplies of fresh stocks, the exodus of labourers have added more fuel to the fire by affecting the entire supply chain of essential commodities, ranging from wheat flour to pulses and biscuits to edible...

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Be ready to pay higher interest on your outstanding loan if you decide not to pay EMIs on your home or auto loan for the next three months under a moratorium announced by by the Reserve Bank of India on Friday.   Analysts and experts tracking the sector said that simple interest rate...

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Moneylife Digital Team 28 March 2020
In a major relief for its customers, the State Bank of India (SBI) has decided to pass on the entire 75 basis points (bps) rate cut announced by the Reserve Bank of India (RBI) to its retail borrowers. At the same time, SBI also decided to reduce interest on deposits by 20bps to...

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Day 2 of COVID-19 lockdown was no different for people who tried to book online delivery of essential items like groceries, milk and vegetables at Bigbasket, Grofers and other online platforms.   To one user's amusement, he got the next delivery slot on Grofers for Monday, April...

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The government has decided to raise excise duty on petrol and diesel significantly, by upto Rs 8 per litre, to mobilise additional resources that would be required to fight the Covid-19 pandemic.   In amendments introduced in the Finance Bill 2020, the Finance Ministry has proposed to...

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Even as thousands of passengers were left stranded at railway stations across India in the wake of suspension of train services, the Indian Railways on Monday announced relaxation in the time limit prescribed for passengers to stay in its retiring rooms.   This relaxation shall be in...

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State-run insurance major Life Insurance Corporation of India (LIC) has extended the dealdline to pay insurance premiums up to April 15 in view of the coronavirus crisis.   In a statement, LIC also requested its customers to avoid visiting its offices to pay premium and stay indoors,...

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SUBHASH NARAYAN (IANS) 20 March 2020
You must be wondering why the current freefall in the global oil market is not resulting in commensurate or sharp fall in retail price of petrol and diesel.   The answer lies in a plethora of taxes that both Central and state governments levy on the two auto fuels that rob the...

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As a preventive measure against the spread of the coronavirus (COVID-19) pandemic in the country, the Railways on Thursday said that it has cancelled 84 pairs of trains, taking the total number of trains cancelled to 155 pairs and also suspended concessional tickets for "senior...

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Moneylife Digital Team 19 March 2020
The Indian government may use the falling crude oil prices to further increase excise duty on petrol and diesel in the country to raise additional resources required for keep rising deficit under check and meet additional expenditure needs arising from coronavirus (COVID-19) outbreak. In...

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Moneylife Digital Team 18 March 2020
A circular issued by Bank of Maharashtra (BoM) asking all its branches to consider the corona virus (COVID-19) pandemic as a 'business opportunity' and sell more insurance policies has shocked even its own rank and file. TMG Mahabaleshwarkar, general manager for resource planning, alternative...

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Leading online travel aggregator MakeMyTrip on Tuesday announced that the company is waiving off fee for processing cancellation or rescheduling requests for domestic as well as international flights up to April 30.   "MakeMyTrip is not levying any fee for processing cancellation or...

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Moneylife Digital Team 16 March 2020
Online grocery retailers like Bigbasket and Grofers saw a spike of 80%-100% in orders over the weekend as customers across metros began stocking up staples like flour, rice and pulses besides disinfectants, hand sanitisers, diapers and personal-care items, top executives at these companies...

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Consumers may still get sharper cuts in retail prices of petrol and diesel if Indian oil marketing companies (OMCs) decide to reduce their margins on the sale of auto fuels that has increased substantially due to abnormally low global oil prices.   According to an ICICI Securities...

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The new rules for debit and credit cards to increase security and reduce frauds kick in from Monday. In January, the Reserve Bank of India (RBI) had issued new rules to improve user convenience and increase the security of card transactions. These rules will help in curbing the misuse of...

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Government has taken the bait provided by unusually low global oil prices to raise excise duty on petrol and diesel to raise revenue that has been severely impacted by a slowing economy.   It raised excise duty on petrol and diesel by Rs 3 per litre that would increase the retail...

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Dr Sampath Iyer 14 March 2020
The moratorium on Yes Bank on 5 March 2020 has shaken the confidence of depositors across all banks. The finance minister and the governor of the Reserve Bank of India had to reach out to the media to issue clarifications and allay the fears of the depositors.    But the run on the...

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With the novel coronavirus hitting several people as well as financial markets very hard, everyone seems to be releasing guidelines for maintaining personal hygiene, especially on washing your hands or wearing mask, if needed. However, there are either mis-conceptions or not full knowledge...

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Facing pressure on their cash flows in the wake of flight cancellations by airlines due to novel coronavirus (COVID-19) pandemic, private airport operators have pitched for putting a moratorium on revenue share for at least three months and levy a fee on air tickets to cover the expenses made...

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Country's largest lender State Bank of India on Wednesday said that it has decided to waive maintenance of 'Average Monthly Balance' requirements for all savings bank accounts.   According to the lender, the initiative will further boost the efforts to promote 'Financial Inclusion' in...

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