Every year on December 24, India observed the National Consumer Day or Bharatiya Grahak Diwas. This day is used to make all consumers aware of their powers and rights. This day was made under the Consumer Protection Act, which came to power in 1986 to create awareness and save consumers from market exploitation like defective products or expensive pricing.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The significance of Bharatiya Grahak Diwas 2022 revolves around giving a wholesome shopping experience to consumers. They are provided protection against unfair trade practices like fake advertisements, false gift offers, and hoardings, among others. Owing to an effective complaint redressal forum, the Consumer Protection Act assures that there is an efficient settlement of consumer disputes. The act also brought changes in the process of how consumer complaints were dealt.
Notably: World Consumer Rights Day is celebrated on March 15 every year. The day marks an opportunity to urge that all consumers’ rights be recognised and safeguarded, as well as to protest market abuses and social injustices that jeopardise those rights.
The exploitation of consumers has been quite common in India. The problems were only aggravated by inflation and poor technology. Taking the repercussions in the account, the Consumer Protection Bill was passed in 1986. And, under the Consumer Protection Act, 1986, December 24 was marked as National Consumer Day. In 1991 and 1993, certain amendments were made in the Consumer Protection Act. Later, to make it more effective, a couple of changes were made in December 2002, which came into effect on March 15, 2003. A refurbished version of the Consumer Protection Act – Consumer Protection Bill, 2019 was passed by the Indian Parliament in August of that year.
On November 22, 2024, the Asia Index Private Ltd, a subsidiary of the Bombay Stock…
India's foreign exchange reserves suffered their largest weekly drop on record, falling by $17.76 billion…
The Union Minister for Education, Dharmendra Pradhan, along with Minister of Labour and Employment, Youth…
On 22nd November evening, Jay Shah, the ICC president-elect and current chief of the BCCI…
The Reserve Bank of India (RBI) has raised the transaction limit for UPI 123Pay from…
Many countries around the world are known by special names that reflect their unique identity,…