Consumer protection in the Indian Financial Code
ROY, SHUBHO
Consumer protection in the Indian Financial Code - 2013 - 520-523
The IFC has approached consumer protection as a problem which has two parts. As in the Consumer Protetion Act 1986 it sets up a system to redress consumer complaints after an event has occured. However, unlike most other Indian legislation, IFC also proposses a system to prevent consumer interest being undermined before a financialproduct ar service is sold. The draft laws also carves out ussophisticated and small consumers from the larger set of consumers of financial services.This is done to provide extra legal action to such consumers.
346.5407
Consumer protection in the Indian Financial Code - 2013 - 520-523
The IFC has approached consumer protection as a problem which has two parts. As in the Consumer Protetion Act 1986 it sets up a system to redress consumer complaints after an event has occured. However, unlike most other Indian legislation, IFC also proposses a system to prevent consumer interest being undermined before a financialproduct ar service is sold. The draft laws also carves out ussophisticated and small consumers from the larger set of consumers of financial services.This is done to provide extra legal action to such consumers.
346.5407