JAIIB Study Material - LEGAL AND REGULATORY ASPECTS OF BANKING -CONSUMER PROTECTION COUNCILS

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JAIIB Exam –TopicLEGAL AND REGULATORY ASPECTS OF BANKING

CONSUMER PROTECTION COUNCILS

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Topics covered

• Introduction

• Central consumer protection council

• Procedure for meeting of the central council

• Objects of the council

• State consumer protection council

• District consumer protection council

• Summary

• Practice test

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Introduction

• To promote and protect the right of the consumer councils are established.

• Their scope is not regarding directly dealing with the consumer complaints at initial or appellate scope but to promote and protect the rights of consumer.

• The function is more of promoting the rights and spreading awareness by education.

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Introduction ..ctd (2/2)

• The highest council is the Central Council who has the jurisdiction for the entire country.

• Then below it is the State Council for each state. Below that is the District Council for each district.

• This unit gives the provisions for establishment of these councils, their objects and procedure for their meetings.

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CENTRAL CONSUMER PROTECTION COUNCIL

• The Central Government has established a council known as the Central Consumer Protection Council, called as Central Council.

• The Central Council shall consist of the following:

(i) The Minister-in-Charge of the Consumer Affairs in the Central Government, who shall be the Chairman of the Council, and

(ii) Such number of other official or non-official members representing such interests as may be prescribed.

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PROCEDURE FOR MEETING OF THE CENTRAL COUNCIL

• The Central Council shall meet as and when necessary but at least once in a year. For transacting the business of the meeting the procedure shall be as may be prescribed.

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OBJECTS OF THE COUNCILS (1/2)

• The objects of the Council shall be to promote and protect the rights of the consumers such as

• (i) the right to be protected against the marketing of goods and services which are hazardous to life and property;

• (ii) the right to be informed about the quality, quantity, potency, purity, standard and price of goods or services so as to protect the consumer against" unfair trade practices;

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OBJECTS OF THE COUNCILS ..ctd(2/2)

• (iii) the right to be assured wherever possible for access to a variety of goods and services at competitive price;

• (iv) the right to be heard and to be assured that consumers' interests will receive due consideration at appropriate forums;

• (v) the right to seek redressal against unfair trade practices or restrictive trade practices or unscrupulous exploitation of consumers; and

• (vi) the right to consumer education.

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STATE CONSUMER PROTECTION COUNCIL (1/2)

• The State Government shall establish Consumer Protection Councillor the State Council by issuing a notification.

• The State Council shall consist of following members:

• (i) the Minister-in-Charge of the Consumer Affairs in the State Government who shall be the Chairman of the Council,

• (ii) such number of official and non-official members representing such interests as may be prescribedby the State Government, ….ctd

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STATE CONSUMER PROTECTION COUNCIL(2/2)

• (iii) such number of other official and non-official members not exceeding ten, as may be nominated by the Central Government.

• The State Council shall meet as and when necessary. There has to be at least two meeting every year. For transacting the business of the meeting the procedure shall be as may be prescribed by the State Government.

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DISTRICT CONSUMER PR OTECTION COUNCIL

• For every district the State Government establishes the District Consumer Protection Council called as District Council.

• The District Council shall consist of following members:

(i) the Collector of the district who shall be the Chairman of the Council,

(ii) such number of other official and non-official members representing such interests as may be prescribed by the State Government.

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DISTRICT CONSUMER PR OTECTION COUNCIL(2/2)

• The District Council shall meet as and when necessary. There has to be at least two meeting every year.

• For transacting the business of the meeting the procedure shall be as may be prescribed by the State Government.

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Summary

• Central Government has to establish Central Council and notify the same.

• It consists Minister-in-Charge of the Consumer Affairs in the Central Government and such other persons as the government may prescribe.

• In similar way State Government has to establish State Council and District Council.

• Compositions of State Council and District Council are different

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Practice Test

• Take Practice test on this topic to check your score/understanding

• http://tutioncentral.com/practice-tests/banking/jaiib

• http://tutioncentral.com/practice-tests/banking/jaiiblegalcpc

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Thanks &

All the Best for a great Banking Career

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For all information's on Banking/CAIIB/JAIIB/MBA-finance/Probationary Officer / RRB/ CAT/ Verbal/Logical/Puzzles/Interview Questions/Free Practice Exams/Model Papers/Sample Papers and Many more…

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JAIIB Study Material - LEGAL AND REGULATORY ASPECTS OF BANKING -CONSUMER PROTECTION COUNCILS