Category : Banking
Consumer protection means safeguarding the interests and rights of consumers. In other words, it refers to the measures adopted for the protection of consumers from unscrupulous and unethical malpractices by the business and to provide them speedy redressal of their grievances.
The most common business malpractices leading to consumer exploitation are given below
This Consumer Protection Act was passed in 1986 and it came into force from 1st July, 1987. The main objectives of the Act are to provide better and all round protection to consumers and effective safeguards against different types of exploitation such as defective goods, deficient services and unfair trade practices. It also makes provisions for a simple, speedy and inexpensive machinery for redressal of consumer s grievances.
The term 'goods' under this Act has the same meaning as under the Sale of Goods Act. Accordingly, it covers all types of movable property other than money and includes stocks and shares. Growing crops, etc. The term 'service' means service of any description made available to potential users and includes banking, financing, housing construction, insurance. entertainment, transport, supply of electrical and other energy, boarding and lodging, amusement, etc. The services of doctors, engineers, architects, lawyers, etc. are also to be included under the Provisions of Consumer Protection Act.
The Consumer Protection Act provides following rights of consumers
It is the right of the consumers to be protected against goods and services, which are hazardous to health or life. Food additives and colours, dangerous toys, flammable fabrics, unsafe appliances are examples of such goods.
It means the consumer must be provided with adequate and accurate information about quality, potency, quantity, purity, standard and the price of the goods and services. Such information helps the consumers in their buying decisions and use of the products.
It provides that the consumer must be assured, whenever possible, access to a variety of goods and services at competitive prices. Free competition and wide variety of products enable consumers to choose the best goods.
This right means that consumers have a right to approach government and public bodies when decisions and policies are made which can hamper consumer interests. Also, consumers have a right to be heard by manufacturers, dealers and advertisers about their opinion on production, marketing decisions and any grievances of the consumers.
The consumers have been given the right of redressal of their grievances relating to the performance, grade, quality, etc. of the goods and services. The Consumer Protection Act has duly provided for a fair settlement of genuine grievances of the consumers. It has also set-up a proper mechanism for their redressal at district, state and national levels.
Now-a-days there is a tendency in the businessmen to exploit customer by giving the misleading advertisements. Sometimes impossible things are guaranteed, also the advertised things to the monopoly. To protect the consumers from this type of exploitation, central government has prepared Monopolies and Restrictive Trade Practices Act, it is abbreviated as MRTP. Consumers need to complain to MRTP Commission about such matter so that necessary action can be taken.
Where to file a complaint depends on "the cost of service or amount demanded as compensation.
All the address are available on www.fcamin.nic.in
There is no need of lawyer for these types of complaints, a nominal court fee is charged I for it.
Compensation includes the cost to you caused by a problem with products or services. This is usually financial costs, but can include other costs such as lost time or productivity.
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