Class 12
Business Studies
Chapter 12-Consumer Protection
What is Consumer Protection?
Answers
Answer:
Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. ... Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices in order to gain an advantage over competitors or to mislead consumers.
Answer:
This act is for the protection of the interests of the consumers including the customers of the bank
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The act extends to the whole of India except the state of Jammu and Kashmir
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The act covers all goods and services except goods for resale or for commercial purpose and services rendered free of charge and a contract of personal service
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There are three forums – district forum, state forum and national forum
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District forum and state forum are established by the respective governments
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District forum has powers to deal with cases upto Rupees 20 lakhs
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The state commission deals with complaints exceeding value of Rs. 20 lakhs and below Rupees one crore
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They also deal with appeals received from the district forum
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The cases exceeding Rupees one crore would be handled by the Central Commission.
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They also deal with the appeals received from the state commission