Consumer Protection
Latest news, explainers and analysis on Consumer Protection. Tracking 11 stories on Arth Vani.
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Latest on Consumer Protection
BreakingSC Orders RBI to Enforce Strict Vehicle Loan Repossession Rules; NBFC CIFCL Fined
India's Supreme Court has directed the Reserve Bank of India (RBI) to strictly enforce guidelines on vehicle loan repossessions, emphasizing the need for fair and transparent procedures. This directive comes after CIFCL, an NBFC, faced a penalty for non-compliance, signaling enhanced scrutiny on lenders.
BreakingRBI Proposes Standard Rules for Banks to Block Accounts in Cyber Fraud Cases
The Reserve Bank of India (RBI) has introduced draft guidelines to standardize how banks block accounts involved in cyber fraud. This aims to create a uniform procedure across all banks, making it easier and faster to respond to online financial crimes.
RBI Mandates Strict Accountability for Digital Lending Algorithms
The Reserve Bank of India (RBI) is now enforcing strict accountability for the algorithms used by digital lending platforms. This move aims to ensure fairness, transparency, and consumer protection in India's rapidly expanding digital credit market.
BreakingIRDAI Fines Canara HSBC Life ₹1 Crore for Policy Mis-selling
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Canara HSBC Life Insurance Company for mis-selling a policy to an 88-year-old individual. The regulator found the company guilty of not adhering to fair practices and customer protection norms.
IRDAI Fines Canara HSBC Life ₹1 Crore for Policy Mis-Selling
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Canara HSBC Life Insurance Company. The fine was levied due to instances of policy mis-selling by the insurer.
California Lawmakers Block Wildfire Insurance Cost Hikes, Protect Consumer Rights
The California Senate and Assembly on August 28, 2026, voted to protect wildfire survivors' rights and reject higher insurance costs, a move praised by consumer watchdog groups. This legislative action represents a significant victory for consumers against potential premium hikes and stands against the proposals backed by Governor Newsom and utility allies.
BreakingNYPD Uncovers ₹830 Crore Gold Scam Targeting Retirees; Indian Investors Alert
New York Police Department (NYPD) is investigating a sophisticated gold bar scam that has reportedly defrauded retirees of over $100 million, or approximately ₹830 crore. This incident serves as a critical global reminder for investors, especially senior citizens in India, to exercise extreme caution when dealing with gold investments.
BreakingOver Half of UK Individuals Lost Money Following Social Media Financial Advice: Survey
A TSB survey reported by Finextra reveals that over half of British individuals who acted on financial advice found on social media ended up losing money. This highlights the significant risks associated with unregulated financial recommendations shared on online platforms.
BreakingBeware: Agents May Misuse Health Insurance Portability for Personal Gain
While health insurance portability allows you to switch insurers and retain crucial benefits like waiting periods and no-claim bonuses, consumers must be cautious. Issues are emerging where insurance agents are reportedly misusing this process, often for their own profit, potentially at the policyholder's expense.
BreakingGovernment Considers National Safety Framework for Dental Implants
India's government is exploring a national regulatory framework for dental implants to address concerns over unregulated use and ensure patient safety. This initiative aims to standardize the manufacturing, sale, and clinical application of these medical devices across the country.
BreakingRBI Cracks Down on Mis-selling: New Rules Ban Third-Party Incentives for Bank Staff
The Reserve Bank of India has introduced strict new guidelines to stop the aggressive mis-selling of insurance and investment products by bank employees. Starting January 2027, third-party companies can no longer offer direct incentives to bank staff, and social media influencers will face tighter regulations.
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