GS-3, Indian Economy, Uncategorized

Punjab and Maharashtra Cooperative Bank Ltd (PMC Bank)

Context The Reserve Bank of India has placed Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC Bank) a Leading Cooperative Bank headquartered in Mumbai under directions and has slapped restrictions on its operations RBI imposed curbs on the activities of PMC for a period of six months. Background Founded in 1984, PMC Bank was the youngest bank to… Continue reading Punjab and Maharashtra Cooperative Bank Ltd (PMC Bank)

GS-2, Indian Polity, Uncategorized

Bring brand ambassadors under Consumer Protection Act, says CAIT

Traders body Confederation of All India Traders (CAIT) has said that brand ambassadors should be brought under the ambit of Consumer Protection Act as consumers are often “guided” through such endorsement, irrespective of quality of product. CAIT has also threatened to move court if the government did not take necessary action. The body has also… Continue reading Bring brand ambassadors under Consumer Protection Act, says CAIT