What is Consumer Protection?

Important banking qna for banking aspirants, which is helpful in banking exam.

Created On: May 6, 2015 14:20 IST

Consumer protection means safeguarding the interest and rights of consumers. In other words, it refers to the measures adopted for the protection of consumers from unscrupulous and unethical malpractices by the business and to provide them speedy redressal of their grievances. The most common business malpractices leading to consumer exploitation are given below

1. Sale of duplicate goods.

2. Sale of sub-standard goods.

3. Sale of spurious goods.

4. Sale of adulterated goods.

5. Use of false weights and measures leading to underweight.

6. Hoarding and black-marketing leading to scarcity and rise in price.

7. Charging more than the Maximum Retail Price (MRP) fixed for the product.

8. Misleading advertisements, i.e., advertisements falsely claiming a product or service to be of superior quality, grade or standard.

9. Supply of inferior services, i.e., quality of service lower than the quality agreed upon.

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