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New Delhi: According to a recent analysis by BloombergNEF, electric vehicles (EVs) in India offer lower lifetime costs compared to traditional internal combustion engine (ICE) models in most vehicle segments. This makes them a more economical choice, especially for high-mileage applications such as urban deliveries, ride-hailing, and intra-city transit. The study found that small passenger electric vehicles are already more cost-effective than their gasoline counterparts in terms of total cost of ownership (TCO). By 2027, it is projected that EVs will become the least expensive option in the small car segment. However, compressed natural gas (CNG) vehicles currently have a 6% lower TCO for 2024, posing competition to small EVs in the ride-hailing segment. The report highlights that CNG vehicles are preferred due to their lower upfront costs and well-established refueling infrastructure. When it comes to inter-city routes, electric buses have a distinct economic advantage. They outperform diesel and CNG buses in terms of lower refueling and maintenance expenses. The TCO of an e-bus is 26% lower than a diesel variant for a daily run of 250 kilometers, increasing to 31% for 300 kilometers. This highlights the potential savings and efficiency of using electric buses for long-distance travel, provided there is sufficient fast-charging infrastructure. However, the adoption of electric three-wheelers may require further support. While sales in the low-speed segment benefit from the TCO advantage, the high-speed segment faces challenges due to higher upfront costs and the scarcity of affordable vehicle financing options. The analysis also indicates that the heavy trucking sector’s shift towards EVs will become economically viable post-2030. Urban and regional light-duty commercial use already favors electric options due to decreasing battery costs and the inefficiency of diesel trucks in urban traffic. Despite the favorable TCO of EVs in most vehicle segments, the report identifies significant barriers to widespread adoption. Concerns over resale value, charging infrastructure, and accessible financing are major factors hindering the shift towards electric mobility in India. The report further added that focused interventions are needed to address these consumer hesitations and encourage the adoption of electric vehicles. Mar 10,2024 Source: Economic Times

A retired non-resident Indian (NRI) has allegedly lost Rs 5.67 lakh when representatives of Kotak Securities dabbled in futures and options (F&O) with his money without his knowledge. In this regard, the National Consumer Disputes Redressal Commission (NCDRC) has ordered Kotak Securities to refund the entire amount of money lost by them due to F&O trading, i.e., Rs 5,67,375 along with Rs 5,000 as compensation and Rs 1,000 as litigation expenses. According to the NRI complainant’s testimony before the district consumer forum, he was an individual, who after giving up his job abroad, was lured by the advertisement made by Kotak Securities and hence invested. “Attracted by the advertisements made by Kotak Securities, the investment for trading in shares in September 2007 was made. The two executives deputed by Kotak Securities promised that they will trade in the account only after getting confirmation for each transaction,” said the NRI individual. Lawyers say that generally, a stockbroker is not liable for the losses caused to an individual while trading in the stock market. “The inherent risk of investing lies with the individual and not the stockbroker. However, a broker can be held liable if the individual can prove that the stock market trading loss has resulted directly due to the broker’s negligence, misconduct, or failure to fulfil their obligations,” says Rishi Segal, Advocate on Record, Supreme Court of India. Kotak Securities contested that they are a member of the National Stock Exchange (NSE) and is acting as share broker and it is not their fault that money was lost trading in F&O(s). “The Complainant is not consumer as defined under section 2(1)(d) as the trades were executed with a speculative motive to earn profit. It is true that he had invested Rs 10,00,750/- with Kotak Securities but the loss is the trading loss for which we are not responsible,” said Kotak Securities. According to Kotak Securities, “The Complainant concealed the fact that he received pay-in of funds from the statement of accounts claiming the disputed period. The copies of contract notes, bills, trade confirmation statement of account were forwarded to the Complainant in his email. The Complainant did not raise any objection against the trades executed in his account. After execution he had taken a pay out of Rs 58,496.54 as revealed by the ledger A/c dated 01.02.2008.” According to the complainant who is a retired NRI, Kotak Securities very well knew that for trading in the derivative segment of the stock market margin money has to be deposited. For this specific purpose (margin money), a separate bank account in the name of the complainant was opened and the demat account was linked to it. On November 15, 2007, Kotak Securities representatives contacted the retired NRI and asked for approval in a trade, which he refused to give and asked the company to forward the trade ledger file. “They did not forward the same. The company has done derivative trade in the account without the written authority and without any kind of instruction,” alleged the complainant in the consumer forum. Mar 07,2024 Source: Economic Time

India’s federal election commission has fixed flaws on its website that exposed data related to citizens’ requests for information related to their voting eligibility status, local political candidates and parties, and technical details about electronic voting machines. India is heading for its next general elections, expected between April and May, to elect the members of its parliament’s lower house who will form the new government. The Election Commission of India fixed the bugs in its Right to Information (RTI) portal, which allows citizens to request access to records of constitutional authorities, as well as state and central government institutions and private organizations receiving substantial funds from the Indian government. The bugs allowed access to the RTI requests, download transaction receipts and responses shared by the officials without properly authenticating user logins. Some of the exposed data included the RTI filing date, the questions asked, the applicant’s name and mailing address, the applicant’s poverty line status and RTI responses. Security researcher Karan Saini found the bugs in February and asked TechCrunch to help disclose them to the authorities after the Election Commission, the Indian Computer Emergency Response Team (CERT-In) and the National Critical Information Infrastructure Protection Center did not initially respond to his requests to fix them. The bugs were fixed earlier this week following CERT-In’s intervention. “CERT-In has been coordinating the issue with the concerned authority. Recently, CERT-In has been informed by the concerned authority that the reported vulnerability has been fixed,” the Indian cybersecurity agency said in an email to TechCrunch on Tuesday. The agency also confirmed the fix to the researcher. Even though the RTI applications and responses are not confidential by Indian law, a judgment (PDF) by the Kolkata High Court in 2014 ordered authorities taking RTI applicants’ personal data “to hide such information and particularly from their website so that people at large would not know of the details.” By default, the Election Commission’s RTI portal does not provide access to individual RTI applications and responses without logging in, which means external access to the data and its ability to be scraped — because it is accessible without a login — made the flaws a privacy issue. Mar 08,2024 Source: Techcrunch

Mumbai, The Reserve Bank on Wednesday tweaked guidelines for Regulatory Sandbox (RS) scheme under which participating entities will have to comply with digital personal data protection norms. Regulatory Sandbox usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain relaxations for the limited purpose of the testing. The RBI had issued the ‘Enabling Framework for Regulatory Sandbox’ in August 2019, after wide ranging consultations with stakeholders. The objective of the RS is to foster responsible innovation in financial services, promote efficiency and bring benefit to consumers. On Wednesday, the RBI placed on its website the updated ‘Enabling Framework for Regulatory Sandbox’. The framework, it said has been revised based on the experience gained over the last four-and-half years in running four cohorts and feedback received from fintechs, banking partners and other stakeholders. “Among others, the timelines of the various stages of the Regulatory Sandbox process have been revised from seven months to nine months,” it said. Also, the updated framework requires sandbox entities to ensure compliance with provisions of the Digital Personal Data Protection Act, 2023. The target applicants for entry to the RS are fintech companies, including startups, banks, financial institutions, any other company, Limited Liability Partnership (LLP) and partnership firms, partnering with or providing support to financial services businesses. Feb 28,2024 Source: Economic Times

The Central Consumer Protection Authority (CCPA) on Wednesday issued an advisory asking and to not promote and gambling. The consumer protection watchdog also warned celebrities, influencers and other similar stakeholders that it will take stringent action against endorsements of illegal activities including betting and gambling. “The advisory underscores the Ministry of Information and Broadcasting’s efforts in issuing various advisories to media platforms, cautioning them against publicising betting and gambling platforms. Online advertisement intermediaries have also been warned against targeting such advertisements toward the Indian audience,” the CCPA said in a statement. “If any violation of the guidelines is found, stringent measures, as per the Consumer Protection Act, 2019, will be initiated against (those) involved, including manufacturers, advertisers, publishers, intermediaries, social media platforms, endorsers, and any other relevant stakeholders,” it added. In August last year, the information and broadcasting ministry had issued guidelines against advertisement of online gambling, just ahead of the Asia Cup cricket tournament. In May, the government asked states to take action against online betting and gambling platforms using outdoor media, such as hoardings and posters. Online gaming companies, through their industry lobby groups, had made representations to the government seeking its intervention in stopping endorsement of illegal activities like betting and gambling. “Despite this (earlier advisories), online gambling sites and apps persist in advertising gambling directly, as well as under the guise of gaming … (the advisory) will also help in distinguishing legitimate Indian online skill gaming operators, which provide the highest player protection measures and are a form of entertainment against these illegal gambling sites which are the main reason for widespread consumer harm and problems,” said Roland Landers, chief executive of the All India Gaming Federation, which counts a number of real money gaming firms among its membership. In April last year, ET reported that online betting and gambling portals had continued to aggressively advertise on social media platforms despite India’s gaming regulations prohibiting betting and wagering of any kind. “If you see a popular cricketer or an actor endorsing an app that offers betting…it might be considered as an acceptable practice. These apps also marketed themselves on social media as ‘no TDS, no GST’ apps, which is illegal. The gaming industry had raised these concerns with the government,” a senior executive at an e-gaming firm told ET. Mar 06,2024 Source: Economic Times

NEW DELHI: Consumer Affairs Secretary Rohit Kumar Singh on Thursday stressed on the need to curb the proliferation of surrogate advertisements across industries as it undermines consumer rights. The Department of Consumer Affairs in collaboration with the Advertising Standards Council of India conducted a stakeholder consultation meeting on “Brand Extension vs. Surrogate Advertisements – Where’s the Line?” in Mumbai on Thursday. The objective of this consultation was to collectively address the intricate issues surrounding surrogate advertising, brand extensions, and trademark restrictions, with the overarching goal of safeguarding public health and consumer rights, an official statement said. The consultation engaged key stakeholders, from government bodies, including the Central Board of Film Certification (CBFC), Ministry of Information and Broadcasting (MIB) and Trademark Authority, who shared their views on how to regulate such surrogate advertisements. According to the statement, Singh said surrogate advertisements that promote products in restricted categories undermine consumer rights and can have serious implications. There is a pressing need to restrict the proliferation of surrogate ads across industries, he added. If respective prohibited industries fail to adhere to this guideline and comply with existing laws, more stringent actions will be implemented, Singh warned. The Department of Consumer Affairs reaffirmed its stance with utmost clarity that any continued involvement in surrogate advertising will not be condoned. It was underscored that stringent measures will be implemented to address any instances of non-compliance, with a firm commitment to take decisive actions against those found in violation. The consultation underscored that there should be a clear distinction between the brand extension and the restricted product or service being advertised; the story or visual of the advertisement must depict only the product being advertised and not the prohibited product in any form. The ad must not make any direct or indirect reference to prohibited products; the ad must not contain any nuances or phrases promoting prohibited products; the ad must not use colour, layout, or presentations associated with the prohibited products; and the ad must not use situations typical for promotion of prohibited products when advertising the other products. Feb 22,2024 Source: ptinews

Misleading med advertising needs prevention more than cure. The matter is compounded when alt streams of medicine are subject to differential treatment over claims of efficacy. Allopathy and Ayurveda derive from the same scientific temper, but have evolved very differently. The former has become vastly more popular than the latter as it has been subject far more intensely to scientific scrutiny. Yet, allopathy does not have a complete understanding of the human body, and it derives some of its curative breakthroughs from trad remedies where the emphasis has been on prevention through empiricism. Modern and ancient medicine can coexist, but can’t commingle. This makes claims of superiority unacceptable. Supreme Court asked GoI to set right the asymmetry over medical claims. Prescribed allopathic drugs are barred from being advertised to patients, and some restrictions on how their effectiveness is communicated to doctors. Ayurveda has to rely on advertising and consumer protection rules for deterrence – which does not serve the purpose, both rules providing ex post checks. Trad med finds itself on a par with over-the-counter drugs that have been found to be safe without physician supervision. A harmonised approach incorporates regulating the active pharma ingredient rather than the final product. This will reduce the scope for misselling, but not eliminate it. Regulatory curbs on claims in trad med will have to measure up against those imposed for more detailed research. GoI will have to act on the court’s prodding to curb the growing menace of misleading advertising of Ayurveda products if it is serious about developing this medical stream. Improved oversight over claims is the better alternative to a judicial ban. Feb 29,2024 Source: Economic Times

New Delhi, A ration card is issued exclusively for obtaining essential commodities under the public distribution system and it cannot be considered a proof of address or residence, the Delhi High Court has said. Justice Chandra Dhari Singh, while dealing with petitions by erstwhile residents of Kathputli Colony seeking an alternative accommodation under the rehabilitation scheme following the re-development of the area, held that the requirement of a ration card as a mandatory document to claim benefit under the scheme was arbitrary and illegal. “As per the definition of the Ration Card, the intent of issuing the same is that it aims to distribute the essential food items by way of the fair price shops. Therefore, it does not amount to becoming an identity proof of residence for any Ration Card holder,” said the court in a recent order. “There is no mechanism set up by the authority issuing Ration Cards to ensure that the holder of the ration card is staying at the address mentioned in the ration card. “The aim of the ration card is to ensure that the citizens of this country are provided foodgrains at a reasonable price. Hence, it is not a reliable source of proof of address since the scope is limited to distribution of food items by way of the Public Distribution System,” the court observed. The petitioners contended that authorities breached their trust and played fraud on Kathputli Colony slum dwellers by suddenly changing the eligibility criteria in 2015 after the demolition of the entire colony as they wrongly mandated the requirement of a separate ration card for the first-floor dwellers of jhuggi. The court noted that a gazette notification issued by the Ministry of Consumer Affairs, Food and Public Distribution in 2015 itself disallows the use of a ration card as a document of identity or proof of residence, and in Delhi, fresh ration cards were not being issued on account of it having exhausted its state-wise ceiling of number of eligible households as per the 2011 census. Remarking that authorities should have “introspected” into the intent and motive behind the issuance of ration cards as well as the harassment and pain caused to the petitioners, the court stated, “The requirement of a Ration Card as a mandatory document to be produced before the respondent as a proof to claim that first floor of the jhuggi is a separate dwelling unit is arbitrary and illegal”. “The respondent should have exercised due caution and care before adhering to such a requirement. It should take a fair and realistic view of the circumstances before it.. the actions of the respondent are in clear violation of the petitioners’ right to shelter as enshrined under Article 21 of the Constitution of India,” stated the court. The court directed authorities to allocate an alternative dwelling unit in favour of the petitioners, subject to the condition that they produce other relevant documents as per the Delhi Slum & JJ Rehabilitation and Relocation Policy, 2015 and meet necessary requirements. “This court is also of the view that the petitioners’ right to housing shall be kept at the highest pedestal. It is one of the safeguards provided in our Constitution and the legacy has been carried forward by the writ Court by way of various judicial precedents which reiterate the same,” the court asserted. Mar 07,2024 Source: Economic Times

NEW DELHI: Consumer affairs department on Friday directed companies in automobile, consumer durables, mobile and electronics, and farming equipment to join govt’s “Right to Repair” initiative. It also instructed water purifiers companies to share the life of candles and other consumables based on geographical areas and water alkalinity so that consumers know their status rather than completely relying on the company representatives for replacing them. The department has launched the Right to Repair Portal India that provides consumers to avail repair associated information for their products and reduce e-waste. At a meeting with industry players, consumer affairs secretary Rohit Kumar Singh directed companies to get onboard the platform. “During the meeting it was highlighted that a product that cannot be repaired or falls under planned obsolescence i.e. designed to have an artificially limited life, not only becomes e-waste but also forces the consumers to buy new products for want of any repair to reuse it. Hence, the idea is to ensure that when a consumer buys a product, she/ he has full ownership of the product and in case of repair, the consumers are not deceived in absence of relevant information,” the department said. Officials said on the basis of grievances registered at National Consumer Helpline, govt observed that repairs are getting severely restricted because not only are there considerable delay in repairs but at times these are priced exorbitantly high and the consumer who has once bought the product is hardly given any choice. “Prominent company of water purifiers wherein large number of complaints were witnessed and were directed to furnish the average life span of their candles and other consumables based on specific geographies and water alkalinity. In the interest of consumers it was emphasised that in sectors wherein availability of spare parts, genuine reparability, exaggerated conditions of warranty is not addressed clearly, it also affects the consumers right to be informed,” the department said. Mar 08,2024 Source: TOI

The Central Bureau of Investigation (CBI) has conducted raids across 67 locations in Rajasthan and Maharashtra in connection with the suspicious IMPS transactions worth Rs 820 crore reported at UCO Bank. On March 6, the CBI raided ‘extensive search operations’ in Rajasthan (including Jodhpur, Jaipur, Jalore, Nagaur, Barmer, Phalodi) and Pune (Maharashtra). “During these operations, approximately 130 incriminating documents related to UCO Bank and IDFC, as well as 43 digital devices (including 40 mobile phones, 2 hard disks, and 1 internet dongle) were seized for forensic analysis,” the CBI said in a press release. Further, it examined 30 suspects on the spot. The CBI had previously raided 13 locations in the case. The case was registered in late November 2023, on a complaint from UCO Bank. It has been alleged that between November 10 and 11, IMPS inward transactions from around 14,600 account holders of seven private banks were wrongfully posted in the accounts of over 41,000 UCO Bank account holders. As a result, Rs 820 crore was credited to UCO Bank accounts without the money actually being debited from their originating banks. “Numerous account holders have exploited this situation, making wrongful gains by withdrawing funds through various banking channels,” CBI said. Earlier in December 2023, searches were conducted at 13 locations involving private individuals and UCO Bank officials in Kolkata and Mangaluru. Mar 07,2024 Source: Economic Times