 Consumer Protection Bill Likely in the Winter Session of ParliamentPM Modi had said that a new consumer protection law was on the anvil that would crack down on misleading advertisements and give time-bound redressal of their grievances.
By: Pinncle Market Investment Advisory The Consumer Protection Bill has been sent to the Cabinet for approval - Ram Vilas Paswan told reporters. Asked whether the Bill will come up for passage in the next session, Paswan answered - 'I hope so'. Minister of State for Food & Consumer Affairs C R Chaudhary said the efforts will be made to bring the Bill in the winter session. The govt's proposed new law will substitute the Consumer Protection Act of 1986 by incorporating the amended 2015 UN guidelines on consumer protection. Briefing the media about the effect of the first global consumer protection conference on 'Empowering consumers in new markets' for the South, South East & East Asian Countries held on Oct 26 to 27, Paswan said that the meeting was attended by 1600 participants, including delegates from 19 countries. The safeguard of consumer's rights in the digital era is significant for a sustainable and inclusive growth of e-commerce, which also needs to address cross-border co-operation and enforcement, as per the statement. It was resolved that consumer protection is indispensable for smooth functioning of financial markets, and efforts should be given to achieving financial consumer literacy and inclusion. For Daily Market Updates Please Visit us http://pinnaclefinancial.in/ End
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