According to the Consumer Protection Act 1986, the consumer right is referred to as ‘right to be protected against marketing of goods and services which are hazardous to life and property’.It is applicable to specific areas like healthcare, pharmaceuticals.
The right to information is defined as ‘the right to be informed about the quality, quantity, potency, purity, standard and price of goods or services, as the case may be so as to protect the consumer against unfair trade practices’ in the Consumer Protection Act of 1986.
Consumerism is a social as well as economic order which encourages the buying of goods and services in ever-greater amounts. This term is sometimes associated with critics of consumption beginning with Thorstein Veblen. Veblen's topic of examination.
RBI Advisory: Security Enrollment For All Bank Users
To receive huge amount of funds, it is advised by the RBI to not pay any money.
- The Reserve Bank has given the advise to the public to not response or exchange their money if they will get any offer for money from out of India or abroad. According to them, these offers are totally fraud and they advised everyone to file a complaint against that particular crime to the local police station or at the authorities of cyber crime.
- They also advised to the public to aware of the transfer of funds for any scheme offered by anyone or from any entity as these may be illegal in the India or outside the India and as per the government rule the member or resident will be liable to the contravention against the management Act of Foreign Exchange 1999. That person also responsible for the disobedience of rules that are regarding the Know Your Customer (KYC) norms or standards of Anti Money Laundering (AML). According to the Reserve Bank of India that they will not make any arrangements for such type of funds or nor they take any responsibility for such transfer of money related to such type of bogus communication.
- If a person wants to clarify all these matter then it is advised by the Reserve Bank to make contact with the Foreign Exchange Department officers of that particular region or their central office. The telephone number of the department of Foreign Exchange is 022- 22610589 / 22610618 or 2260 1000 and extn. No. is 2772 / 2732 at the time about 9.45 hours to 17.45 hours from Monday to Friday or they can also e-mail for getting such clarification. The consumer may also visit the website of RBI to seek such type of advisory information. According to the Reserve Bank they also motivate the other banks of India to enhance the knowledge of their customer in order to take action against such type of fake offers. They also advised the banks to contact with the agencies of enforcing law if in case their customer accounts are going to misuse for such type of fake activities.
How do the Fraudsters Operate?
- According to the Reserve Bank of India, they advised the public many years back that not to become the victim of the fake entity regarding offers/exchange of funds or currency of foreign/lottery winning/any individual represent themselves to their relative/ or other fake entities. According to the Reserve Bank of India, all the fake entities offered various attractive schemes through SMS, mobile phones, e-mails, or through letters. To give the knowledge about these fake offers, consumer helpline also provide various websites that shows the trend of the fraudsters to make the public aware about that. The officers and executives of such type of authorities offered these. The signature signed by the officials were fake but their names are correct. The detailed contact of the officer of RBI is given in that document that is working as a authority in the department of Reserve Bank.
- The starting done by the fraudsters is asking for small amount of money from the victim for such type of fees like tax clearance, transaction fee, clearing fee, or conversion charges etc. They asked the victims to deposit the particular amount in the given account. Various accounts are available on the name of concerned proprietor or individual by the fraudster in various banks for such type of collection.
- For making success in such type of fraud, fraudsters firstly follow the innocent people to use the account for such type of fake activities in order to receive the money. They will ask for more money in case their demand initially has been fulfilled stating the cause of depositing of money for official reason. When a sufficient amount of money deposited in their account then fraudster withdraw all the money and went abroad. At the present time, lots of residents become the victims of such fake offers and lost a huge amount of money by such fall.
Rs 1000 COIN, A SOLUTION AGAINST FAKE CURRENCY
- At the present time, the amount of Rs 1000 is in circulation for counterfeit. Now at the present time, it is difficult to distinguish the original note and the fake one. Today, many of the people print the fake note of Rs. 1000 as it gives a maximum value.
- The Parliament on 12th August 2011 stating in the Act of Coinage Bill 2009 for first time to launch the coin of Rs 1000 in order to prevent from such fake currency business or use of fake Rs 1000 note. A large amount of relief will be getting by the consumer after such law in process.
- Such type of fake currency circulation is so much spread that this counterfeit notes were also delivered by the ATM machine. According to the RBI, all the fake notes were detected with the series number of 2AQ and 8AC. Every person should clarify about this series as one builder in recent action got all the Rs 1000 fake notes from the ATM machine of SBI in Chennai. An employee of PSU named Sherwin Pinto also received total amount of Rs 8000 of all counterfeit fake notes from the ATM in the city of Mumbai at the time of deposition of amount and get fake notes in return of that. He try to convince the officers of the bank that all these notes are fake and are the part of cash withdrew by him of total amount Rs. 8000.
He was asked to proof that these notes were dispensed from that ATM machine which is quite impossible. So he later on contact the Banking Ombudsman to aware them about this incident and to asked about the rules that frame that Act but all his efforts and money were get wasted.
- According to them it is advisory that such type of currency should not allow to pass and if a person related to that become recognized then it could lead to the imprisonment for that person. A Master Circular had been issued by the Reserve Bank Of India that is DCM (FNVD) no. G-1/6.01.05/ 2007-08 on 2nd July, 2007 and this should be updated every time and every currency will be stamped and processed under this detection.
As the Rs 1000 coin process of minting is under action till then consumer will be able to identify the fake note by following various simple steps and that are:
First person should have to hold the Rs. 1000 note in front of the light and focus on the Mahatma Gandhi portrait, a multidirectional lines were seen along with the electrotype mark showing the 1000 number on that section.
One should focus on the silver thread of the note and they will find a RBI and Bharat 1000 marked on that line and the color will be changed from green to blue when one will see that line from various angles. On reversing, it will be fluoresce in color of yellow and under the ultraviolet rays it will be observed. If holding under the light for a long time, the tread is going to visible continuously.
On the original Rs 1000 note, one will get a printing year on the back.
Weights & Measures:
Highlights of new Weights & Measures Act and Rules
All the standards of Measures and Weights Act were revised under the Act 2009 on 1st April 2011 by the Legal Metrology Act of 1976 and 1985.
Few rules were changed affecting the Measures and Weights of the Act 1977 according to the Legal Metrology Rules of Act 2011 and that are as follows:
- The price that has been imprinted on the product pack is the retail sale price and is the price at which that product is to be sold to the consumer in retail. This price is being imprinted on the product pack in the form like 'Max or Maximum retail price including tax or it is printed like MRP Rs… including taxes. This price is being printed taking in to the account less than Rs00.50 that is to be rounded off and up to Rs00.95 being rounded off to 50 paisa. Any of the person like the retailer, manufacturer, importer, packer or the wholesaler can sale that commodity more than the price that has been imprinted on it.
- Any or the advertisement that has mentioned the maximum retailing price of the pre-packed product must declares regarding the fix quantity or the total number of that product that is being contained by that packet. The net quantity font shown in the advertisement and the font size of the imprinted price of the commodity must be same. This is the new addition.
- In case of the foreign goods or the commodities it is necessary that the declaration of the address and the name of the importer must be mentioned on that good. However as per the rules of the Standards of Weights and Measures, 1977, mentioning the above was not necessary.
In case of the declarations that are not necessary there is no provision of stickers on the package of the commodity. However as per the rules of the Standards of Weights and Measures, 1977, mentioning the stickers of any declaration that are other than necessary were allowed.