by the consumer is influenced by the level of consumer awareness achieved. By "consumerism" we mean the process of realizing the rights of the consumer as envisaged in the Consumer Protection Act (1986) and ensuring right standards for the goods and services for which one makes a payment. This objective can be achieved in a reasonable time frame only when all concerned act together and play their role. The players are the consumers represented by different voluntary non-government consumer organizations
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In 2010 President Obama passed a consumer protection act formally titled the “Dodd-Frank Wall Street Reform and Consumer Protection Act.” This act was passed after the 2008 financial crisis to try to “promote the financial stability of the United States by improving accountability and transparency in the financial system‚” and to put an end to ‘‘too big to fail’’ banks. Although the act was built on good intentions‚ Dodd-Frank has accomplished little of its intended purposes‚ and has only followed
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Consumer protection laws are designed to ensure fair competition and the free flow of truthful information in the marketplace. The laws are designed to prevent businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors and may provide additional protection for the weak and those unable to take care of themselves. Consumer Protection laws are a form of government regulation which aim to protect the interests of consumers. For example‚ a government may
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Ruff (1995) stated that the criminal liability of producers‚ distributors and suppliers of unsafe products is covered under Part II of the Consumer Protection Act of 1987‚ which has mandated a general safety requirement. The producer‚ distributor or supplier of unsafe products incur criminal liability for failure to exercise due diligence. The law is strict but the criminal liability can be dispensed with after showing that they exercised due diligence and have reasonable grounds to believe that
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Christ University Law Journal A research paper on: “Evolution of Consumer Protection and Way Forward” Submitted to: The Journals and Publications Society‚ School of Law‚ Christ University Author: Abhishek Gupta Co-author: Kritika Mishra Faculty of Law‚ JAMIA MILLIA ISLAMIA UNIVERSITY‚ NEW DELHI ACKNOWLEDGEMENT At the outset‚ I would like to thank School of Law‚ Christ University with its core team of The Journals and Publications Society‚ School of Law‚ Christ University for organising
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ZENITH International Journal of Multidisciplinary Research Vol.1 Issue 1‚ May 2011‚ ISSN 2231-5780 CONSUMER PROTECTION AND CONSUMERISM IN INDIA Ms Kiran Chaudhry*;Ms Tanu Chandhiok**;Mrs Parveen Dewan*** * Assistant Professor‚ Shivaji College‚ University of Delhi‚ Delhi‚ India **Lecturer‚ Yamuna Group of Institutions‚ Gadholi‚ Jagadhri‚ Haryana‚ India *** Principal‚ Sanatan Dharam Model School Jagadhri‚ Yamunanagar‚ Haryana‚ India __________________________________________________________________
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suddenly valued in the employment marketplace. "A moment comes‚ which comes but rarely in history‚ when an age ends‚ and when the soul of a nation‚ long suppressed‚ finds utterance." This is that moment. And the utterances are music to the ears of consumer marketers‚ especially lifestyle brands. The ’youth’ market they’ve been chasing all these years finally has a credit card with no supervised spending limit. The impact of consumerism by ’indies’ - financially independent young people - is clearly
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Total Number of Consumer Complaints Filed / Disposed since inception Under Consumer Protection Law (Update on 01.08.2014) Sl. No. Name of Agency Cases filed since inception Cases disposed of since inception Cases Pending % of total Disposal Remarks 1 National Commission 89495 77770 11725 86.90% 2 State Commissions 645486 554341 91145 85.88% 3 District Forums 3442730 3176518 266212 92.27% TOTAL 4177711 3808629 369082 91.17%
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Knowledge and awareness is pivotal to the human progress. Consumer awareness is about making the consumer aware of his/her right. The first consumer movement began in England after the Second World War. A modern declaration about consumer’s right was first made in the USA in 1962 where four basic consumer rights – choice‚ information‚ safety and to be heard were recognized. Ralpha nadar‚ consumer activist is considered as the father of the consumer movement. Education is a lifelong process of constantly
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The Consumer Protection Act‚ 1986 Introduction The earlier principle of “Caveat Emptor” or “let the buyer beware” which was prevalent has given way to the principle of “consumer is king”. The origins of this principle lie in the fact that in today’s mass production economy‚ where there is little contact between the producer and consumer‚ often sellers make exaggerated claims through advertisements‚ which they do not intend to fulfill. This leaves the consumer in a difficult position with
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