RBI Cancels AceMoney India NBFC License for Irregular Lending Practices The Reserve Bank of India (RBI) has taken stringent action against AceMoney India, a Non-Banking Financial Company (NBFC), by revoking its license due to irregular lending practices. The move comes in response to AceMoney India’s failure to comply with regulatory guidelines and norms set by…
National Consumer Rights Day 2023: Upholding Consumer Empowerment The celebration of National Consumer Rights Day on December 24th in India commemorates the enactment of the Consumer Protection Act, 1986. This annual event reaffirms the significance of consumer rights and educates citizens about their entitlements. Amidst the evolving market dynamics, the observance of this day serves…
Centre Launches “Dark Patterns Buster” Hackathon 2023 to Combat Deceptive Practices in E-commerce The Ministry of Consumer Affairs, Food, and Public Distribution has taken a significant step towards ensuring fair practices in the e-commerce industry by launching the “Dark Patterns Buster” Hackathon 2023. This initiative aims to combat deceptive practices commonly found in the e-commerce…
RBI to Impose ₹10,000 Daily Fine for Credit Bureaus Failing to Resolve Complaints in 30 Days In a significant move to protect the interests of consumers and enhance the accountability of credit bureaus, the Reserve Bank of India (RBI) has recently announced a crucial regulatory change. The central bank has introduced a penalty mechanism, wherein…
CCI Imposes Penalty on Bharti Airtel In a recent development, the Competition Commission of India (CCI) has imposed a penalty on Bharti Airtel, one of India’s leading telecommunications companies. This decision has significant implications, not only for the telecom industry but also for students preparing for various government exams, including civil services, banking, police, railways,…
World Consumer Rights Day is celebrated on March 15 every year to raise awareness about consumer rights and highlight the need for consumer protection. It was first observed in 1983, and since then, it has become an important day for consumers and consumer organizations around the world. This year, World Consumer Rights Day will be…
