World Consumer Rights Day being observed today: 15 March

World Consumer Rights Day is being observed today (15 March 2017) which is an awareness day and theme for this year is 'Building a Digital World Consumers can Trust’.

Several functions are being organized across the country to mark the occassion. Consumer Affairs Minister Ram Vilas Paswan will also preside over a function in New Delhi. The day is an opportunity to promote basic rights of all consumers, demanding that those rights are respected and protected. 

On this day in 1962, President John F Kennedy formally addressed the issue of consumer rights in US congress. He was the first world leader to do so, and the consumer movement now marks that date every year as a means of raising global awareness about consumer rights. 

The first World Consumer Rights Day was observed on 1983, and has since become an important occasion for mobilizing citizen action. In India, besides the World Consumer Rights Day, we observe the National Consumer Day on 24th of December every year.

Maritime Admiralty Bill passed by Lok Sabha

The Lok Sabha on 10 March 2017 passed the Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill,2016. 

The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. 

It also aims to replace archaic laws which are hindering efficient governance.

Apollo Munich and Dena Bank Enters Into Bancassurance Tie-Up

Standalone health insurer Apollo Munich Health Insurance expanding its footprint across the country with bancassurance tie-up with state-owned Dena Bank.

Under the tie-up the bank will distribute customized Apollo Munich Health insurance and personal accident policies to the bank's 20 million customers nationwide. 

Apollo Munich Health has developed specialized health insurance solutions with distinctive benefits and an uncomplicated application process, exclusively for Dena Bank customers.

Bharat Financial launches instant microloan facility

Hyderabad based non-banking finance company Microfinance institution Bharat Financial Inclusion Ltd launched an instant loan approval at a village near Bassi in Jaipur district, Rajasthan.

The objective of this initiative to help rural areas embrace cashless transactions. The loan amount will be deposited directly to the loanees bank account.

The loan facility based on a three-step verification process of Aadhar-based eKYC, credit bureau authentication and eSign and non collateral loans up to Rs 60,000 for one year to rural women. It will be rolled out by June 2017 in all microfinance companys nationwide network with several being in Rajasthan, Bihar and Delhi.

EDII wins International Mercury Award 2016-17

The Ahmedabad-based Entrepreneurship Development Institute of India (EDII), an acknowledged national resource institute for entrepreneurship education, research, training and institution-building, has received the prestigious International Mercury Awards (IMA) for the year 2016-17 for the best overall presentation of its 2015-2016 annual report.

Instituted by MerComm Inc. the world's only independent awards organization, the International Mercury Awards honor outstanding achievement in professional communications in around 80 countries, EDII Director Dr. Sunil Shukla stated.

Fabindia removes ‘Khadi’ brand name from its products

Fabindia has started removing the brand name ‘Khadi’ it uses to promote its cotton products after a legal notice by Khadi India that the use of the word amounted to unfair trade practice and misusing its trade name.

The Khadi & Village Industries Commission (KVIC) had sent a legal notice to Fabindia Overseas Pvt Ltd, a chain of ethnic wear retail outlet, asking it to immediately stop using the word Khadi from all its cotton products and remove display banners from its showrooms.

Indian Navy inducts first all-women global circumnavigation vessel 'Tarini'

The Indian Navy's second sailboat 'Tarini' was inducted into service at a ceremony in Goa. The vessel is slated to be the platform for the first Indian all-women global circumnavigation by the Indian Navy to begin in August.

The Indian Navy is operating four sailing vessels capable of open ocean deployments - Tarangini, Sudarshini, Mhadei and Tarini, all four of which have been built in shipyards at Goa.