Rajya Sabha clears Motor Vehicles Bill; check penalties for various traffic violations
The Rajya Sabha on Wednesday passed a bill to tighten road traffic regulations such as issuance of driving licence and imposed stricter penalties for violations in an attempt to improve road safety. The Upper House passed the Motor Vehicles (Amendment) Bill, 2019, with 108 votes in favour and 13 against it, with three amendments moved by Road Transport and Highways Minister Nitin Gadkari.
Consumers to get more power! New bill mandates action against ecommerce frauds, unfair trade practices
With the passage of the Consumer Protection Bill in the Lok Sabha on Tuesday, shoppers come a step closer to initiating class action lawsuits over grievances such as refund and return of products. Those indulging in etail therapy have the most cheer since they are unable to physically check the product before making online purchases. The new bill, which would replace the Consumer Protection Act, 1986, aims to address consumer vulnerabilities to new forms of unfair trade and unethical business practices in the fast-changing new-age economy. The current three-decade old law does not adequately cover the ecommerce sector or even direct selling.
HDFC lowers lending rates by 10 bps to new & existing loans
Mortgage major HDFC Wednesday announced reduction in retail loan pricing by 10 basis points across tenors and buckets of loans, both for new as well as existing borrowers, effective Thursday. For home loans up to Rs 30 lakh, the financier is offering 8.60 percent now. For women borrowers, the new rate is 8.55 percent, the largest mortgage lender said in a statement, adding the rate reduction will be applicable to existing borrowers as well.
'We will miss you,' says Cafe Coffee Day in heartfelt tribute to VG Siddhartha
Cafe Coffee Day paid tribute to its founder and businessman VG Siddhartha whose body was found on Wednesday morning on the banks of River Netravati. The popular coffee house chain changed its red quotation mark logo to black on its Twitter handle. It also put up a black cover image with the text: "India discovered joy in every cup, because of you. We will miss you!"
Monsoon rains in coming weeks to make up for shortfall, says IMD
Monsoon rains in the coming weeks are likely to make up for a shortfall in the first two months of the season that began in June, the head of India's state-run weather office said on Wednesday, boosting prospects for the agricultural sector. "We are going to see some rapid recovery in the monsoon and the rainfall shortage is expected to come down sharply in the next couple of days," K.J. Ramesh, director general of the India Meteorological Department (IMD), told Reuters in an interview. The slow progress of the June-to-September monsoon season had led to fears of widespread drought, and has curbed the sowing of several summer-planted crops.
No hike in Delhi electricity tariffs for fifth year in row: CM Kejriwal
Delhi Chief Minister Arvind Kejriwal on Wednesday said there has been no hike in electricity tariffs in the national capital for the fifth consecutive year after power regulator DERC announced a significant reduction in fixed charges. Congratulating Delhiites, the chief minister said the city has the lowest power tariffs in the country and the only place with 24x7 electricity.