The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim, points out Jehangir B Gai.
Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum. "Strong services expansion and capital expenditures propelled India's 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. "We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent," Moody's said in its Global Macro Outlook. - el nino
rediffGURU and wellness expert Roopashree Sharma tells you how you can use natural methods to improve your health.
The Reserve Bank of India's latest order prohibiting Bajaj Finance from sanctioning and disbursing loans under its 'eCOM' and 'Insta EMI Card' products may not have serious implications on the non-banking finance company's profitability, provided the ban is lifted within six to eight weeks, analysts said. "In a surprise move, the RBI has asked Bajaj Finance to stop sanction and disbursal under two of its digital lending products. "While the move is negative, the speed of correction will be key to reinstate products," global brokerage Jefferies said in a report.
The panel headed by Justice (retired) Ritu Raj Awasthi has submitted its report to the government, calling for an exhaustive overhaul of the law.
Really frustrated by a company's attitude? Read this quick guide to filing a consumer complaint.
Are faulty design, hurried construction and private ownership to be blamed for the incidents of airport roofs crashing?
Holding the tour agency guilty of providing deficient service to its customer Sweta Singh, District Consumer Dispute Redressal Forum president C K Chaturvedi asked it pay her Rs 15,000 as compensation besides refunding another sum of Rs 57,000 to her that she had spent due to botched up management of her trip by the agency.
Despite its shortcomings, the consumer act is still a handy weapon for consumers to ensure accountability as well as compensation for defective goods and deficient services. It is one of the nicest gifts we, through our government, have given to ourselves as consumers.
Chief Economic Advisor V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient rains in August. India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. India's economy in Q1 grew at the fastest pace in a year, on the shoulders of a boost in capital expenditure both at central and state levels, along with stronger consumption demand, especially in rural areas, and improved performance in the services sector, he said.
rediffGURU Dr Deepa Suvarna, a pediatrician with over 25 years of experience, offers expert advice on how you can ensure your child is healthy and happy.
Prioritising portion control fosters a healthier approach to well-being in the long run, explains Shilpa Joshi.
Private players offer convenience for slightly higher rental than banks.
Deloitte India would not provide non-audit services to all listed companies and other entities where public money is involved such as banks and insurance companies, if they are its audit clients.
From the Sensex pack, NTPC, Tata Motors, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, HDFC Bank, Reliance Industries, Titan, Power Grid and State Bank of India were the major gainers. ITC, UltraTech Cement, Tech Mahindra, Tata Steel, Wipro, Tata Consultancy Services and JSW Steel were among the laggards.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
HDFC Bank on Thursday said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes, and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult. The bank said it is on its way to creating a new technology architecture for the future as part of the "digital factory" and "enterprise factory" initiative. But, it conceded that outages will continue under the older system though it will be working to minimise the time taken to bring the service back. In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages.
The presence of an engine maintenance, repair, and overhaul (MRO) facility in India could have prevented Go First airline from going "belly up", as sending engines abroad for servicing is not an efficient way to operate a carrier, Piyush Srivastava, senior economic advisor, Ministry of Civil Aviation, said in a statement on Tuesday. On May 3, Go First suspended its flights and filed for insolvency, squarely blaming engine manufacturer Pratt & Whitney (PW) for its cash crunch. The airline claimed that about half of its 54 aircraft were grounded on May 3 due to a delay in the supply of engines by the US-based company. PW has denied the charges.
Stress is one of the leading causes of premature greying, warns Dr Monica Chahar.
A Delhi consumer court has ordered a medical transcription education institute to pay compensation of Rs 10,000, along with refunding course fees of Rs 25,000, to each of the aggrieved 9 students for duping them by promising jobs after the training.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
rediffGURU and wellness expert Roopashree Sharma tells you how you can use natural methods to improve your health.
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
A five-judge Constitution bench headed by Chief Justice K G Balakrishnan, Justices R V Raveendra, D K Jain, P Sathasivam and J M Panchal ruled the insurance company cannot be precluded from recovering the compensation from carrier as long as the complaint was jointly filed or under the power of attorney granted by the assured (consginor).
The question is: Is it appropriate for the service chiefs to publicly comment on such critical policy decisions? Should they maintain the tradition of remaining silent? Or should they speak out?
Even if you feel healthy, your overall health report can give you a realistic picture of important parameters, advises Dr Divya Gopal.
On July 25 and 26, the regulator's team carried out the surveillance of Air India in the areas of internal audit, accident prevention work and availability of required technical manpower.
CCPA said the primary issues raised in the notices included 'deficiency in service'. This includes lack of proper response from customer support, driver refusing to take payment by online mode and insisting for cash only.
Top golfer Gaganjeet Bhullar lodged a complaint against Emirates Airlines for delaying his bags, which he said affected his game. Jehangir Gai tells us what happened next.
Talking to reporters at the accident site, he said the issue is of electric point machine, a vital device for railway signalling, and electronic interlocking.
Pakistan has rejected India's action over the March 9 accidental firing of a supersonic BrahMos missile that landed in its territory as "totally unsatisfactory, deficient and inadequate" and reiterated its demand for a joint probe into the incident.
Deficiencies in iron, protein and zinc can particularly lead to hair fall, warns dermatologist Dr Abhishek Pilani.
'Its people are either victims of corruption or witnesses to it.'
Holding the travel company guilty of 'deficiency' in service, the New Delhi District Consumer Disputes Redressal Forum president, K K Chopra, and members, R K Manchanda and Neeru Mittal, said "it was the most horrifying experience."
rediffGURU Nidhi Gupta, a physiotherapist with 20 years of experience helps diagnose and manage chronic pain. She also prescribes exercises to deal with pain and heal faster.
She would also have a separate meeting with the defence secretary every day.
The National Commission ruled that a person must opt for a policy and submit the proposal form after acquainting himself with the terms and scope of coverage to determine where it would be suitable and adequate.
India's scores in the ICAO's air safety oversight audit will improve substantially as the international watchdog's just-concluded validation mission was highly successful as per the initial reports, regulator DGCA said on Wednesday. ICAO is the International Civil Aviation Organisation. Under its Universal Safety Oversight Audit Programme (USOAP) Continuous Monitoring Approach, an ICAO Coordinated Validation Mission (ICVM) was undertaken from November 9 to 16.
As part of its efforts to strengthen customer protection, Reserve Bank is considering setting up a fraud registry to create a database of fraudulent websites, phones and various modus operandi used for digital fraud. Such a database will help prevent these fraudsters from repeating the fraud as the websites or phone numbers would be blacklisted, RBI executive director Anil Kumar Sharma said on Monday. "There is no definite timeline for setting up of the fraud registry.
The Northern Railways said it has cancelled around 17 trains and diverted around 12 others, while traffic has been suspended at four locations due to waterlogging.
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