Why few mis-selling complaints against banks get registered

Only 0.4% of the roughly 160,000 complaints made to India’s banking ombudsman in 2017-18 were about mis-selling.Shaikh Zoaib Saleem and Neil Borate spoke to experts in the fields of financial services distribution as well as consumer activists to get an insight Get the latest news and analysis on business, finance, politics from Livemint, the website of the Mint newspaper, one of India’s leading business and financial dailies Powered by WPeMatico

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How John Singleton changed the world with Boyz n the Hood

How John Singleton changed the world with Boyz n the Hood

The groundbreaking filmmaker, who died on April 29, transformed how black lives are portrayed on screen. When John Singleton snagged two Oscar nominations in 1992 for writing and directing his debut feature Boyz n the Hood, he made history twice over. At 24, he was the youngest nominee in Oscar history. And for the first time in its 64 years, the Academy had finally nominated an African-American filmmaker for Best Director. But Singleton — who…

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Frauds within credit system on a rise: Report

A recent report by Experian says that identity frauds and market alert frauds have increased significantly in the credit system in the past year.Fraudsters can simply hover the skimming device around your pocket and commit a credit card fraud Get the latest news and analysis on business, finance, politics from Livemint, the website of the Mint newspaper, one of India’s leading business and financial dailies Powered by WPeMatico

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Trump wants to make asylum seekers’ stay in the US harder — and shorter

Trump wants to make asylum seekers’ stay in the US harder — and shorter

A memo outlines the next steps in the administration’s crackdown — but they aren’t happening just yet. President Trump has unveiled the next phase of his asylum crackdown: a new wave of regulations that would force asylum seekers’ cases through much faster and make it harder for asylum seekers to afford to apply and live in the US in the meantime. On Monday night, Trump issued a “presidential memorandum” directing the departments of Homeland Security…

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Separate ombudsmen exist for NBFCs and digital transactions

NBFC ombudsman scheme covers digital transactions, including failed transactions and where the amount has been debited from the user’s account but not credited to the merchant account.The complaint can be made on the grounds of non-payment or inordinate delay in the payment of interest on deposits Get the latest news and analysis on business, finance, politics from Livemint, the website of the Mint newspaper, one of India’s leading business and financial dailies Powered by WPeMatico

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Stacey Abrams passes on a 2020 Senate run

Stacey Abrams passes on a 2020 Senate run

It’s a blow to Democrats, who tapped her as their best bet to unseat incumbent Republican David Perdue. Stacey Abrams, a historic 2018 gubernatorial candidate, has decided she won’t be running for US Senate, dealing a blow to Democrats who had seen her as one of their best chances to take on Georgia Republican David Perdue in 2020. Abrams, who’s also been floated as both a potential presidential candidate and possible pick for vice president,…

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Is banking ombudsman consumer-friendly?

Only 133 of the 164,000 complaints got awarded in favour of consumers.Only 0.4% of the total complaints received by the ombudsman in 2017-18 were regarding mis-selling Get the latest news and analysis on business, finance, politics from Livemint, the website of the Mint newspaper, one of India’s leading business and financial dailies Powered by WPeMatico

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