CONSUMER ISSUES


Moneylife Digital Team 29 November 2021
Depositors of 17 cooperative banks placed under the all-inclusive directions (AID) will receive up to Rs5 lakh from the deposit insurance & credit guarantee corporation (DICGC) from 29 November 2021 onwards. On 1 September 2021, the Union government had notified the provisions of the DICGC...

Read More



IANS 29 November 2021
After Bharti Airtel and Vodafone Idea, telecom major Reliance Jio said it would raise tariffs for its prepaid users by around 20 per cent.   The revised tariffs will come into effect from December 1, the telecom major said.   The announcement by Reliance Jio comes few days...

Read More



Shrirang Samant 26 November 2021
With the increasing financialisation of the economy, banks have started aggressively selling a number of financial products to their customers as mutual funds (MFs) and insurance policies. This article analyses the practice of banks selling complex life insurance products to their customers,...

Read More



Moneylife Digital Team 26 November 2021
From southwest to northeast, monsoons have pushed vegetables into an unsavoury stew. First came the erratic and often copious summer spells that delayed arrivals at mandis and lit up prices. Then, the northeast variant rained pain. With cumulative rainfall between 1st October and 24 November...

Read More



IANS 26 November 2021
From daily essentials like tomatoes, milk as well as edible oils to transport fuels, rising prices have hampered the financial health of ordinary middle class families in India.   The trend has not only hurt the economically weaker section of the society but has lately been cited to...

Read More



Moneylife Digital Team 19 November 2021
A working group (WG) of the Reserve Bank of India (RBI) has recommended separate legislation to prevent illegal digital lending activities. The WG, headed by Jayant Kumar Dash, executive director (ED) of RBI, also recommended enhancing customer protection and making the digital lending...

Read More



IANS 18 November 2021
In India, the most popular password is "password" and not "123456" as has been widely speculated. Interestingly, Japan is the only other country that had the same top password as India, new research showed on Thursday.   Other common passwords people use in India are "iloveyou",...

Read More



IANS 16 November 2021
Cybersecurity researchers have discovered a new Android Trojan that can circumvent multi-factor authentication on banking apps on smartphones, putting users' financial data and money at risk.   Called 'SharkBot', the Android malware has been found in attacks across Europe and the US,...

Read More



IANS 15 November 2021
A consumer court in Bengaluru has ordered the Karnataka State Road Transport Corporation (KSRTC) to pay Rs 1,000 as compensation to a passenger for failing to pick him up from the designated bus stop.   Sixty seven-year-old S. Sangameshwaran, a resident of Banashankari in the city,...

Read More



Post-COVID-19 and post shortage of chips, the scales are slowly returning, favouring new vehicle buyers. But this is not without a few new hazard warning signals flashing on Indian roads— especially near new automobile showrooms.    Now that the semiconductor (chip) shortage, which...

Read More



Moneylife Digital Team 12 November 2021
Prime Minister Narendra Modi on Friday launched two innovative customer-centric initiatives of the Reserve Bank of India (RBI). The retail direct scheme allows investors to invest in government securities through a free account directly opened with RBI.   The new initiatives from RBI...

Read More



IANS 11 November 2021
Prime Minister Narendra Modi will launch two innovative customer centric initiatives of the Reserve Bank of India on Friday via video conferencing. These initiatives include the RBI Retail Direct Scheme and the Reserve Bank-Integrated Ombudsman Scheme.   The RBI Retail Direct Scheme...

Read More



Moneylife Digital Team 09 November 2021
Banking malware threats are sharply increasing as cybercriminals target the rising popularity of mobile banking on smartphones, with plots aimed at stealing personal banking credentials and credit card information, says a report.   The Nokia 2021 Threat Intelligence Report, based on...

Read More



IANS 09 November 2021
Manufacturers will now need to indicate per unit sale price - for instance, cost per kg or per litre - on pre-packed commodities that will allow easier comparison of the prices at the time of purchase for the consumer.   This is being done to safeguard the interest of consumers,...

Read More



IANS 09 November 2021
The Supreme Court (SC) on Monday said a model builder-buyer agreement is an important matter in public interest, which is required in the real estate sector, and sought Centre's reply in the matter.   A bench of Justices DY Chandrachud and A.S. Bopanna told Additional Solicitor...

Read More



IANS 08 November 2021
Scammers have used Google Ads to steal crypto currencies worth $500,000 in a matter of days, a new report showed on Monday, even as cryptocurrencies witness rapid adoption across the world, especially in India.   According to the report by Check Point Research (CPR), scammers are...

Read More



Moneylife Digital Team 08 November 2021
In a significant order, the National Consumer Disputes Redressal Commission (NCDRC) held that a home-buyer is a consumer within the meaning of Section 2 (1) (d) of the Consumer Protection Act since the developer had failed to prove that home-buyer (complainant) is indulging in the business of...

Read More



Moneylife Digital Team 01 November 2021
The Reserve Bank of India (RBI) has issued revised guidelines to banks for opening new current accounts provided the customer has less than Rs5 crore credit exposure, either in cash credit (CC) or overdraft (OD) facility with the respective bank. The relaxation will benefit thousands of small...

Read More



IANS 27 October 2021
Indians paid over Rs263 billion on foreign exchange fees in 2020, of which roughly Rs97 billion were hidden as exchange rate markups on currency conversions, payments, and card purchases and the remaining Rs166 billion were spent on transaction fees, a new report showed on...

Read More



IANS 27 October 2021
In a run-up to the festive season, the Central Consumer Protection Authority (CCPA) took stringent action to safeguard consumer interests issuing 202 notices to entities with regard to country of origin violations in the period between October 16-22.   Out of this, electronic products...

Read More

Free Helpline
Legal Credit
Feedback