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Complaints on govt helpline: Ecommerce faces the bulk of consumer bricks & mortars

Complaints on govt helpline: Ecommerce faces the bulk of consumer bricks & mortars

Finance
NEW DELHI: E-commerce companies led by Flipkart topped the list of consumer complaints received on the government’s national helpline, which was set up to help resolve their grievances. One in every five complaints filed on the helpline was against an e-commerce company, with Flipkart on top, according to data from the consumer affairs ministry. Besides e-commerce, banking and telecom attracted large numbers of grievances. Flipkart, Reliance Jio and Amazon and a public-sector bank are among the companies that figure at the top, an official said. A Flipkart spokesperson said the company has a well-defined and continuously improving programme to help customers and address their grievances promptly. “We endeavour to guide our new customers on how to navigate the Flipkart app, policies and ter
After Dow tops 28,000, the next 1,000 points will be determined by trade talks

After Dow tops 28,000, the next 1,000 points will be determined by trade talks

Finance
Traders work on the floor at the New York Stock Exchange.Brendan McDermid | ReutersStocks bounced on trade headlines on Friday, but the market could stall out in the week ahead if there is no real progress toward a deal.Stocks ended the week at record highs, but Treasury yields unwound half the big move of the prior week, as doubts surfaced about a trade pact getting completed.The Dow soared above 28,000 for the first time, ending the week at 28,004, with a gain of 1.2% for the week. The S&P 500 ended the week up 0.9% at 3,120.In the coming week, there is a last blast of earnings, from a few big retailers including Home Depot, Macy's and Target. Walmart in the past week raised its outlook and said consumers looked healthy going into the holiday season.There are some economic releases, ...
Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

Finance
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks amidst a crisis in PMC Bank affecting lakhs of depositors. These legislations will be brought during the Winter Session of Parliament starting Monday, the minister told reporters here. "Work is on and we shall go to the Cabinet for approval to introduce a legislation in winter session. The legislation will amend the necessary Acts and the laws to make sure that banking functions undertaken by cooperatives sector will be brought under the Banking Regulation Act for complying with prudential norms," she said. Unless the prudential norms are applied, many of the things that are e...
Debt Recovery Tribunal stops DHFL from making payments

Debt Recovery Tribunal stops DHFL from making payments

Finance
MUMBAI: The Pune bench of the Debt Recovery Tribunal (DRT) has stopped DHFL from making any further payments to any of its unsecured creditors, passing an order on an application filed by Catalyst Trustee, the custodian of the indebted home financier’s bond holders. “The defendant …(DHFL) is temporarily… restrained (from) making further payments to any of its unsecured creditors, save and except in cases where the payments are to be made on a pro-rata basis to all secured creditors…,” the DRT said in the order, of which ET has seen a copy. A day earlier, the Bombay High Court allowed DHFL to make payments to banks and NBFCs that have securitisation arrangements with the stressed mortgage financier. “The order passed by the DRT will not have any bearing on the order passed by the Bombay Hig
Importance of a Financial Planner

Importance of a Financial Planner

Finance
Here’s why you need a Financial PlannerFinancial planning helps you determine your short and long-term financial goals and create a balanced plan to meet those goals. The first step in developing your financial plan is to meet with an advisor. If you work with a financial planner/advisor, you’ll be nudged to answer questions about your income, spending and goals. You may do it on your own if you are able to find the options and analyse them well, but this needs a proper understanding, expertise and time. Hence, it is always a better choice to appoint a financial advisor. The investment advisor must be certified and registered with SEBI as per recent guidelines. So it is important to take the services of an authentic advisor only. The illustration above shows few powerful reasons why fina