CONSUMER ISSUES


With the conciliation meeting between bank unions and the Central government failing, about one million bank employees will strike work for two continuous days - March 15 and 16 - protesting against the government decision to privatise public sector banks, the All India Bank Employees'...

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While the harassment, humiliation and mental agony of customers in the name of know-your-customer (KYC) updating continue unabated by banks, the regulator has not penalised any lender for failing to adhere to its KYC updating guidelines. Further, the Reserve Bank of India (RBI) has no...

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Assembly elections in four states and one union territory starting later this month may spare consumers from any major increase in petrol and diesel prices for the next few weeks.   Sources indicated that with fuel price rise becoming an election issue, the Centre would not like to...

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Moneylife Digital Team 09 March 2021
To improve end-user experience and eliminate spam and fraudulent commercial communication, the Telecom Regulatory Authority of India (TRAI) implemented its template registration and scrubbing regulations. However, due to inadequate preparations by telecom companies as well as...

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While the Union government enforced FASTag on vehicle users on national highways, as happens with 'everything government', the number of complaints, especially about wrong deduction from the user's account, are steadily increasing. No doubt, technologies like FASTag will help reduce...

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The oil price rise may be hitting the fuel consumers hard, but it is the oil companies that are making the most from the current situation, strengthening their margin on the sale of petrol and diesel and jacking up profits.   At the current historic high fuel price levels in the...

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Lending major State Bank of India on Monday announced a limited period 'home loan' offer entailing a concession of up to 70 bps with interest rates starting from 6.70 per cent onwards.   Accordingly, the limited period offer ends on March 31, 2021 with home loan interest rates...

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Several users of the State Bank of India (SBI) have been targeted with a phishing scam where hackers have flooded them with suspicious text messages, requesting them to redeem their SBI credit points worth Rs 9,870.   The link associated with the text messages redirects the user to a...

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Moneylife Digital Team 01 March 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has admitted, shockingly enough, that in over 10 years, it has not taken any action against a single insurance company for non-compliance with awards or orders issued by the insurance ombudsman. This admission was made in...

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Subhash Narayan (IANS) 25 February 2021
Government is all set to walk away with the highest level of excise duty collection from the petroleum sector this year, even as fuel consumers continue to face persistent increase in petrol and diesel prices that has taken the retail prices to historic high levels across the...

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IANS 25 February 2021
Days after the Congress accused the government of "hiking rail fares", the Indian Railways on Wednesday said that it was levying slightly higher fares for short distance passenger trains only to discourage people from travel which is not most necessary.   In a statement, a Railway...

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Jeremy Schwartz, Kiah Collier  and   Vianna Davila (ProPublica) 23 February 2021
Texas regulators and lawmakers knew about the grid’s vulnerabilities for years, but time and again they furthered the interests of large electricity providers.   In January 2014, power plants owned by Texas’ largest electricity producer buckled under frigid temperatures. Its...

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IANS 22 February 2021
If you don't agree to WhatsApp's new privacy policy update, you will be able to receive calls and notifications, but will not be able to read or send messages from the app, says a report.   In an email to one of its merchant partners, reviewed by TechCrunch, Facebook-owned WhatsApp...

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IANS 22 February 2021
As petrol and diesel prices soar to record high levels, and petrol nearing the Rs 100 mark across metro cities, around 51 per cent Indians are cutting on their other expenses to manage their spending on fuel prices, showed a survey by LocalCircles.   Around 21 per cent of the...

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Moneylife Digital Team 19 February 2021
While the union government has made FASTag mandatory from Monday mid-night, there is no respite to road travellers from long queues at toll booths. Add to this the poor infrastructure available at these toll plazas, which makes it difficult to get the radio-frequency identification (RFID) tag...

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IANS 19 February 2021
A website that goes by the name of 'Pradhan Mantri Yojana Loan' and was earlier linked to a Google Play Store app with the same name (the app has now been removed) is luring Indians in providing loans, in exchange for personal identifiable information that can potentially be misused online,...

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Moneylife Digital Team 19 February 2021
The Reserve Bank of India (RBI), in its master directions, has asked regulated entities (REs) like banks and financial institutions, to put in place adequate safeguards to protect integrity of data, customer confidentiality and security of data in digital payment products and related services...

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Archana Sharma (IANS) 18 February 2021
Continuing its northbound trend in Rajasthan, the price of non-premium petrol crossed the Rs 100-mark for the first time in Sriganganagar district on Wednesday to reach Rs100.13 per litre, while diesel price stood at Rs92.12 a litre.   Despite the recent reduction in VAT by 2% by the...

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Taking advantage of increased Zoom use and people's fear of intimate moments being exposed, scamsters are using a new extortion method called sextortion. Researchers at Avast claim that they have blocked over 500,000 such attacks, where users were threatened by scammers with a threat to make...

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Moneylife Digital Team 18 February 2021
The Bombay High Court has asked the Maharashtra State Road Development Corporation (MSRDC) how long it would continue to collect toll from commuters on the Mumbai-Pune Expressway, now called the Yashwantrao Chavan Expressway.    Hearing a public interest litigation (PIL) petition...

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