CONSUMER ISSUES


IANS 09 September 2019
British Airways (BA) has asked its passengers not to turn up at airports as the biggest strike action in the airlines 100 year history begins on Monday.   More than 1,500 flights have been cancelled as the company was accused of bullying its own staff by union bosses, who warned they...

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Moneylife Digital Team 09 September 2019
The National Company Law Tribunal (NCLT) has begun insolvency proceeding against real estate company Raheja Developers Ltd from the National Capital Region (NCR). As a part of the process, a public notice has been issued informing creditors to submit their claims against the NCR-based...

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IANS 31 August 2019
In a setback for rail passengers, the Indian Railways has decided to restore the service charges on its e-tickets from September 1, which it had withdrawn after demonetisation to promote digital payments.   A senior Railway Ministry official said the Indian Railway Catering and...

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Moneylife Digital Team 31 August 2019
The National Company Law Tribunal (NCLT) has ordered corporate insolvency resolution process of debt-ridden real estate major Housing Development and Infrastructure Ltd (HDIL), asking homebuyers to submit their claims for dues to the interim resolution professional (IRP) by 8 September...

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IANS 30 August 2019
Fraudsters have hit a Mumbai-based investment banking analyst who lost Rs 87,000 while buying three beer online via a Unified Payments Interface (UPI)-based digital payments platform.   According to media reports, Radhika Parekh dialed a contact number listed for Star Wine shop which...

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Aravind Natarajan 29 August 2019
Consumers could find themselves badly out of pocket on calling banks on the numbers provided to raise a dispute or make an inquiry. These are special number starting with 1860 that are often mistaken for toll free numbers by ordinary people.   In fact, numbers starting with 1860 are...

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Girish Mittal 28 August 2019
In April 2019, I had applied for a credit card and, to my utter surprise and dismay, it was rejected. I made some enquires and I was told, rejection was due to low credit score. I was in a state of shock because the last time, I checked my credit score, in 2018, it was 800 plus, which is...

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IANS 28 August 2019
In a bid to fill the vacant seats in trains and meet the challenges posed by the roadways and airways, the Indian Railways has decided to give discount of up to 25 per cent to passengers on ticket fares.   According to the Railways, the decision will be applicable in air-conditioned...

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Moneylife Digital Team 23 August 2019
Finance Minister Nirmala Sitharaman on Friday said that banks in India have decided to pass on marginal cost of funds based lending rate (MCLR) rate cuts to all borrowers.   She also said that banks have decided to launch repo rate or external benchmarking-linked loan products, which...

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IANS 22 August 2019
If you are planning to sell your old refrigerator or air conditioner on OLX or Quikr, first make sure that you understand all the nitty-gritties of digital transactions as fraudsters often target users of these platforms to cheat them of money.   If you lack some basic understanding...

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Moneylife Digital Team 16 August 2019
The Reserve Bank of India (RBI) has finally responded to customers being wrongly fleeced by banks and clarified that transactions that have failed due to technical reasons, or when there is no cash withdrawals at automated teller machine (ATM) cannot be counted as valid and bank cannot charge...

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IANS 13 August 2019
The Competition Commission of India (CCI) has found Jaiprakash Associates Ltd (JAL) to be in contravention of the provisions of Section 4 of the Competition Act, 2002, for abuse of dominant position in the market.   The abuse has been identified with independent residential units such...

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IANS 13 August 2019
OYO Hotels & Homes on Monday announced a complimentary insurance cover of upto Rs 10,00,000 for its guests at booking price, across OYO properties in India.   The insurance cover has been launched in partnership with ACKO General Insurance, OYO said in a statement.   "The...

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IANS 09 August 2019
The Supreme Court on Friday upheld the status of homebuyers as financial creditors as per the amendment in the Insolvency and Bankruptcy Code (IBC).   Builders had moved the top court challenging the financial creditors status given to homebuyers. With this judgement, the court has...

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Moneylife Digital Team 08 August 2019
With every rate cut, the media tell you that your home loans and other loans have become cheaper. This, alert borrowers is, a lie. Banks do not reduce the rates in tune with policy rates. And this lie will continue, thanks to Reserve Bank of India’s (RBI's) policy of junking the...

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IANS 06 August 2019
Parliament on Tuesday passed the Consumer Protection Bill 2019 that seeks to address the issues of false and misleading advertisements and set up a national regulator to address consumer complaints, paving the way for strengthening of consumer rights.   Replying to the debate, food...

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On 14 June 2019, the National Consumer Disputes Resolution Commission (NCDRC) gave a stunning order which issued a stern warning to ICICI Prudential Life Insurance (ICICI Pru) and slapped a cost of Rs5 lakh on it for rejecting a legitimate claim based on a ‘suspicious medical certificate’...

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Moneylife Digital Team 02 August 2019
Updated on 8 August 2019 at 4.37pm to include response from ICICI Bank.   In June, the Reserve Bank of India (RBI) directed banks not to levy any charges for transactions processed in the real time gross settlement system (RTGS) and national electronic funds transfer (NEFT) systems in...

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Shirish Shanbhag 01 August 2019
Maharashtra has recently announced an amnesty scheme with respect to the penalty that can be levied for insufficient or non-payment of stamp duty. Stamp Duty is an integral part of any immovable property transaction that requires registration. The transaction could be either a sale, mortgage,...

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The Supreme Court on Wednesday asked the central government to consider bringing a law to regulate mobile app-based taxi service providers like Ola and Uber to ensure safety and security of women passengers.   A bench headed by Justice S.A. Bobde also asked petitioner Nipun Saxena to...

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