A national bank was fined ₹1 lakh by the country’s highest consumer court, National Consumer Disputes Redressal Commission, for not sharing complete insurance policy details with a customer. The bank has been ordered to pay the full amount as compensation to the customer.
Identify the right of consumers being violated in the given case.
Answer & explanation
Correct answer: option 4
The correct answer is option 4- Right to be informed.
In this case, the right of consumers being violated is the Right to be informed.
The Right to Information ensures that consumers are provided with all the necessary details about products or services they are purchasing. The bank's failure to share complete insurance policy details with the customer violated this right, leading to the fine and compensation ordered by the National Consumer Disputes Redressal Commission.
Right to be Informed: The consumer has a right to have complete information about the product he intends to buy including its ingredients, date of manufacture, price, quantity, directions for use, etc. It is because of this reason that the legal framework in India requires the manufactures to provide such information on the package and label of the product.