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CUSTOMER REDRESSAL MECHANISMS
Bitcoin crashes 50%: Should you buy the dip or stay away from crypto?Investors must weigh extreme volatility, uncertain cycles and India’s harsh tax rules before adding exposure.- Digital gold players ramp up audits, vault checks to boost transparency amid regulatory scrutinyDigital gold providers are enhancing transparency with independent audits and vault checks, aiming to build trust as the sector serves 80 m...
- 'Curb unfair practices by drivers': Court orders Ola to pay Rs 50,000 to passenger driven 25 km away from destinationA consumer court in Andhra Pradesh held Ola responsible after a driver stranded a woman en route to a judicial exam. The platform was order...
- Court orders Royal Enfield to pay Rs 5 lakh compensation to Continental GT 650 buyer for repeated repairsRoyal Enfield compensation ruling: A Coimbatore consumer court has ordered Royal Enfield and its dealer Bharat Automotives to pay Rs 5.1 la...
- Missed insurance claim submission deadline? Don't worry, you are still eligible for reimbursement. Here's whyA Bombay High Court ruling favored policyholders, stating insurers cannot reject claims solely for delayed document submission beyond the 9...
- Trai proposes fine up to Rs 50 lakh on telcos for improper handling of customer complaintsTelecom regulator TRAI is proposing a new system for telcos to handle customer complaints. Service providers must offer clear complaint reg...
- WTO's dispute settlement system should be fully functional, says Piyush GoyalIndia urged WTO members to restore the dispute settlement system's functionality, highlighting its current dysfunctionality prevents effect...
- RBI issues norms for internal ombudsman in banks, NBFCsThe Reserve Bank of India has released new guidelines for internal ombudsmen in banks and NBFCs. This move aims to improve how customer com...
- RBI strengthens consumer grievance resolution: Banks’ internal ombudsman and RBI ombudsman system will be overhauledThe Reserve Bank of India is significantly enhancing its consumer grievance redressal system by revising its ombudsman scheme and extending...
- RBI Deputy Governor M Rajeshwar Rao flags risks of relying on single vendor for servicesDeputy RBI Governor Rao highlighted the risks of single-vendor dependency at a CareEdge event, citing the Microsoft outage. An RBI survey r...
- Consumer commission imposes Rs 35,000 fine on Amazon, retailerThe District Consumer Disputes Redressal Commission fined Amazon and a retailer for service deficiencies, emphasizing delays in refunding a...
- Borrowers to get compensation for delay in correction of credit report by credit information companiesBorrowers had to run around to get their credit history corrected after they found any error in reporting. With RBI now enhancing the griev...
- PM Modi to launch RBI's retail direct, integrated ombudsman schemes on FridayThese schemes, to be launched by the prime minister through video-conferencing, are aimed at deepening the debt market and improve customer...
- Select NBFCs to now have internal ombudsman on lines of banks: Shaktikanta DasThe IOS will be on the lines of a similar system adopted at banks and will redress grievances related to deficiencies in service, Governor ...
- One nation one ombudsman: RBI to integrate consumer grievance redressal scheme"To make the alternate dispute redress mechanism simpler and more responsive to the customers of regulated entities, it has been decided to...
- RBI to make banks pay for high level of consumer complaints filed with OmbudsmanDuring 2018-19 the complaints received at OBOs rose by 32,311 taking the total to 1,95,901 complaints over the previous year (1,63,590), re...
- RBI to strengthen banks' internal ombudsman: Can you hope for faster grievance redressal?In May 2015, with a view to strengthening the internal grievance redressal mechanism at banks, select banks were advised to appoint Interna...
- Government to set-up helpline for e-payments grievance redressalThe government's efforts to curb blackmoney in the country has pushed digital transaction on various platforms by up to 8,800 per cent.
- RBI to visit banks incognito to check customer dealingsRBI will also undertake a review of how banks have implemented Charter of Customer Rights, the central bank said in a statement.
- Trai to use surprise call for redressalsThe Telecom Regulatory Authority of India, which last week had directed all landline, mobile and internet service providers to set up to se...
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