26 October, 2020

‘Consumer Court Best Remedy’

Mere regulations aren’t enough to protect consumers from increasing online fraud

‘Consumer Court Best Remedy’

Mumbai-based consumer affairs lawyer Jehangir Gai says mere regulations aren’t enough to protect consumers from increasing online fraud. He tells Arti Sharma that more stringent implementation and acc­ou­ntability is required. Excerpts:

On a consumer’s legal options: Regulators merely frame laws; sometimes they don’t even bother whe­ther the laws are implemented or not. And, the regulator never comes to help an aggrieved consumer as that is not its duty. The Ombudsman is the right authority, but most often she is some retired senior official of the same industry, and considers it her duty to help and protect the bank rather than the consu­mer, except in gross cases. The Ombud­sman can grant compensation up to a maximum amount which is equivalent to the actual loss caused or Rs 10 lakh, whichever is lower. Sta­tistical data shows that the cost of maintaining the Ombudsman’s office is very high, but redressal rate extremely poor. The consumer...



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