THE NATIONAL CONSUMER COMMISSION
Europe is slapping tariffs on Chinese electric vehicles - for now. Here's what to know
EU raises customs duties on Chinese electric vehicles due to unfair subsidies. Tariffs aim to address market imbalance. Negotiations ongoing between EU and China. Concerns about impact on European jobs and green technology production. Uncertainty looms over potential solutions and retaliatory measures.
After installing solar plants atop houses, Goa consumers struggle to get govt subsidy
Consumers like Sameer Pawar in Goa face challenges accessing subsidies for rooftop solar plants due to online portal glitches. Despite the government's promotion of green energy, the reality on the ground highlights difficulties in obtaining the promised financial support.
India, Cambodia discuss investment treaty, UPI collaboration
India and Cambodia are in talks to collaborate on UPI-based digital payments to boost trade and tourism, according to the Indian commerce ministry. The discussions, held on Wednesday, also focused on diversifying the trade basket with new products, establishing a bilateral investment treaty, recognizing Indian pharmacopoeia, and collaborating in the pharmaceutical sector.
CIBIL score dropped due to bank's fault: Doctor won the legal battle with Rs 2.6 lakh as damages after 7 years, lessons you can learn from this
CIBIL score: A doctor had AMEX credit card issued by a bank with credit limit of Rs 3.25 lakh. However his bank reported him as a defaulter and thus his CIBIL score dropped by a big margin This happened despite the doctor paying the bank by personally handing over a cheque with number 69131. However ICICI Bank, Vadodara branch stepped in to help solve this case.
Modi 3.0 has heavy lifting to do on tax reforms to managing stock risks
Economists outline key priorities for India's incoming government, emphasizing the need for growth, job creation, and macro stability. Pronab Sen highlights the importance of sustainable livelihoods, while Pranjul Bhandari suggests that 'easy' reforms could maintain 6.5% growth. However, achieving 70 million jobs requires politically sensitive reforms in agriculture, labor, and land. Additional recommendations include infrastructure investment, judicial reforms, enhancing export competitiveness, and further tax reforms, particularly bringing petroleum and power under GST.
A dozen consumer companies line up IPOs amid a thriving stock market
India's primary market anticipates a dozen consumer-facing companies to launch IPOs this year to capitalize on market potential. Companies like Coca-Cola's bottling partner HCCB, CG Foods, Allied Blenders & Distillers, Urban Tots, Cremica Food, Patel's R Mart, PNG Jewellers, Baazar Style Retail, Unicommerce eSolutions, One Mobikwik Systems, and Swiggy are among those planning IPOs.
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Consumer firms plan IPO; startups on poll mandate
India's public market will see about a dozen consumer companies make a debut on the bourses. More on this in today's ETtech Top 5.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
What are the costs behind Trump's economic proposals?
Former President Donald Trump is considering imposing tariffs on all US imports, potentially costing consumers $500 billion annually. His proposals include a 10% tariff on all trading partners and higher levies on Chinese goods, aiming to offset tax cut extensions. These policies could disproportionately impact lower-income groups.
Flat stuck in a delayed or stalled real estate project? Six things aggrieved homebuyers can do
Homebuyers stuck in stalled real estate projects face financial strain and uncertainty. They pay EMIs and rent while bearing the loss of opportunity cost. If you have property in a delayed or stalled real estate project, here are some things you can do as a home buyer.
Govt looks to change base year for major economic gauges to FY23, revamp of key datasets also being planned
The base year provides a reference point for measuring changes in economic variables and comparing relative performances of indicators over time. For instance, real gross domestic product (GDP) growth is currently calculated with reference to FY12 prices.
Health insurance claim rejection: Widow fights, wins Rs 28 lakh damage; pre-existing disease can't be free pass for claim denial
The Delhi State Consumer Commission ruled that an insurer cannot reject a health insurance claim solely based on pre-existing diseases if they weren't the cause of death. The commission directed HDFC Life (previously known as HDFC Standard LIC Co. Ltd.) to pay Rs 19.4 lakh along with the interest to a woman whose husband's claim was rejected for not disclosing diabetes. The insurer also has to pay Rs 1,00,000 for mental harassment of the complainant along with the litigation cost. This is a relief for those with common lifestyle diseases like diabetes. Read the full case and verdict in details. What do you need to keep in mind while buying health insurance policy to avoid claim rejection later. Find out here.
Advocates cannot be held liable under Consumer Protection Act: Supreme Court
The Supreme Court ruled that advocates cannot be held liable for deficient services under the Consumer Protection Act 1986. It stated that the legal profession is unique and specialized, with advocates required to respect client autonomy and not make concessions without instructions, thus excluding them from the Act's definition of services. This came in a response to a plea challenging a 2007 National Consumer Disputes Redressal Commission (NCDRC) verdict.
Bank liable for wrong done by its employees: SC orders bank to compensate man
Supreme Court holds District Cooperative Bank liable for employee actions, orders compensation of Rs 25,000 to a man after three decades. Bank failed to release fixed deposit receipts worth Rs 1,60,000 in Varanasi. Petitioner awarded refund with interest and damages by district consumer forum in 1997. Apex court overturns NCDRC's ruling, emphasizing bank's vicarious liability for employee conduct.
Qantas to pay $66 million fine after 'ghost flights' scandal
Qantas agreed to pay a $66 million fine and $13 million in compensation after a scandal involving "ghost flights," where seats were sold on cancelled trips. The airline admitted misleading consumers by advertising flights that were not operating. The Australian Competition and Consumer Commission criticized Qantas' behavior, stating that many consumers were affected. Qantas apologized for the situation, acknowledging it failed to notify customers of cancellations promptly. The airline, known as the "Spirit of Australia," has faced challenges, including criticism over ticket prices and service quality.
Want to fight a case in consumer court? Know the process and timeline of filing a case in district, state and national level
Filing of case in consumer court: The Consumer Protection Act, 2019 empowers individuals to file a case in various consumer commissions at district, state and national level at NCDRC. Compared to traditional civil courts, an consumer forum is equipped to hear cases where Consumer Protection Act may have been violated.
Car buyer wins Rs 15 lakh compensation as company couldn't fix engine fault despite multiple seizures
Hyundai car: A individual from Ambala, Haryana purchased a Hyundai Verna car in 2013, however this new car started having engine problems which 6 visits in 16 months of the car ownership could not be fixed. Hyundai's service center executives tried multiple times to fix the issue, but it kept on happening.
SC sets aside NCDRC order for penalty on YRF for excluding promo song 'Jabra Fan'
The Supreme Court has set aside the National Consumer Disputes Redressal Commission's (NCDRC) order to pay Rs 10,000 to Yash Raj Films for the exclusion of a song from the film 'Fan' starring Shah Rukh Khan. The court ruled that a 'promo' or 'teaser' circulated before a movie's release would create a contractual obligation and that it was an unfair trade practice not to show promotional trailer content in the movie.
Explainer: How to file a complaint in the consumer court?
Consumer cases involve filing within 2 years of purchase, with evidence like WhatsApp chats. Jurisdiction varies based on the value of goods/services. Appeals can be made at different levels of courts within specific timeframes.
How Europe's regulatory battle with Apple could signal what's to come for American consumers
The US lawsuit against Apple progresses slowly, contrasting with the EU's actions fining Apple for anti-competitive practices. Changes in Europe may indicate what's ahead for US Apple users.
Toyota Innova's airbag failed to open in an accident, car owner to get Rs 32.07 lakh or a new vehicle, orders NCDRC
Toyota Innova car: Airbags are an important safety feature and protect the car's occupants in the event of an accident. However an Toyota Innova car's airbags did not open in an accident and this resulted in the occupants of the car suffering injuries. Read here to know more about the case and how Toyota was proved to have sold a defective Innova.
China says economy got a strong start in 2024, sets sights on latest technology, upgrading factories
China has the potential to achieve its annual economic growth target of about 5%, according to top officials. Exports rose by 10% in the first two months of 2023, and medium- and long-term loans from banks jumped more than 30%. The priority will be on supporting scientific and technological innovation, integrated development of urban and rural regions, food security, and energy security.
Husband wins Rs 1.57 crore health insurance claim against LIC after a 5-year fight
LIC health insurance claim: Life Insurance Corporation of India (LIC) was ordered by NCDRC to pay Rs 1.57 crore to the husband of deceased policy holder who died from Breast Cancer in 2017. The said policy was approved by LIC in 2016 after eco and medical tests were done by the policyholder.
Daughter wins health insurance claim fight against LIC after 8 years, to get Rs 1.6 lakh as against Rs 17,100 paid by the insurer
LIC Jeevan Arogya: Life Insurance Corporation of India (LIC) was ordered by National Consumer Disputes Redressal Commission (NCDRC) to pay Rs 1.6 lakh to a policyholder of LIC Jeevan Arogya health insurance policy. The policyholder's father underwent an hernia surgery in Apollo Hospitals, Chennai and incurred more than Rs 2 lakh in 2016, however LIC paid the policyholder only Rs 17,100.
Cheque fraud victims to get Rs 74 lakh from Axis Bank after 15 years long legal fight
Axis Bank cheque fraud: Five victims of cheque fraud at Axis Bank will get Rs 73.93 lakh (including compensation) after fighting with the bank in various consumer courts and Supreme Court also for 15 years. The main suspect in this cheque fraud incident is a person called Gurwinder Singh. Read here to know what did Axis Bank do after knowing about the fraud and how the victims fought against the bank.
Missed connecting flight due to delay by airline; Air India asked to pay Rs 3.85 lakh compensation after 20 years fight
Air India: A retired public sector bank manager and his three family members fought against Air India for the airline's deficient service which caused them to miss their connecting flight and allegedly led them stranded in Kolkata Airport for about 15 hours. All the four passengers were travelling from Thiruvananthapuram, Kerala to Dibrugarh, Assam in December 2003.
Indian fliers flag dual MRP for packaged water onboard flights despite govt ban
A survey by Local Circles revealed that several Indian fliers reported that airlines sold packaged food and water with higher published Maximum Retail Price (MRP) than the market or store price. Despite government guidelines banning identical pre-packaged products with different MRPs at different locations, this situation persists.
Canara Bank to pay Rs 9 lakh as compensation to NRI for deficiency in services: NCDRC
National Consumer Disputes Redressal Commission (NCDRC) has directed state run lender Canara Bank to pay Rs 9,09,288 to an non-resident Indian person due to deficiency in service and indulging in unfair trade practices. It is noteworthy that the NRI first filed a case in State Consumer Commission and then to NCDRC.
India takes lead in setting up global online platform to resolve cross-border B2C e-commerce disputes
India is planning to establish a global online dispute resolution (ODR) platform to resolve conflicts in cross-border B2C e-commerce transactions. The United Nations has accepted India's proposal and asked for the development of a framework for this purpose. A conference will be held in India to discuss the framework, with representatives from various countries attending.
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