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RBI drafts new rules for prepaid payments to tighten security and refunds

RBI drafts new rules for prepaid payments to tighten security and refunds

The Reserve Bank of India has released a draft proposal to strengthen the Prepaid Payment Instruments framework, aiming to support long-term growth. The plan focuses on enhanced transaction security, and more explicit guidelines for refunds and handling customer grievances. The RBI will consider public feedback until May 22, 2026, before finalizing the changes.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Government warns restaurants can’t automatically tack on LPG charges or gas surcharges to bills

Government warns restaurants can’t automatically tack on LPG charges or gas surcharges to bills

The Central Consumer Protection Authority has warned restaurants and hotels against automatically adding “LPG charges” or “gas surcharges” to customer bills. It has deemed such mandatory extras an unfair trade practice and said operational costs should be built into menu pricing. Consumers can ask for removal of these charges or file complaints if they appear on bills.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Gujarat NGO demands drug regulator oversight for nutraceuticals over quality and pricing fears

Gujarat NGO demands drug regulator oversight for nutraceuticals over quality and pricing fears

A Gujarat-based NGO is urging the government to regulate nutraceuticals such as health supplements under drug regulators, not food safety authorities. The group alleges uneven product quality and unregulated pricing, arguing the current framework leaves consumers exposed. If accepted, the proposal could bring tighter standards and more transparent costs for nutraceuticals nationwide.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Bank pays Rs 3.21 lakh for credit card closure delay RBI penalties can reach this much

Bank pays Rs 3.21 lakh for credit card closure delay RBI penalties can reach this much

RBI rules require card issuers to complete credit card closure within seven working days. If they fail, they must pay a penalty of Rs 500 per calendar day of delay to the cardholder, until closure—assuming there is no outstanding balance. In one case, the compensation reached Rs 3.21 lakh, highlighting how quickly delays add up.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India moves against dark patterns as new rules target deceptive charges and forced purchases

India moves against dark patterns as new rules target deceptive charges and forced purchases

India has issued fresh guidelines aimed at curbing “dark patterns” used by brands and advertisers—tactics that nudge customers into unintended purchases or hide extra charges until it’s too late. The big question now is whether the rules will effectively change how firms design checkout flows and marketing prompts, or if smarter workarounds will follow.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
PAN fraud is taking loans in your name and crushing your credit score in India

PAN fraud is taking loans in your name and crushing your credit score in India

A growing scam in India is using stolen PAN details to apply for and secure loans without the victim’s consent. These fraudulent accounts can rapidly damage credit scores, making future borrowing harder. Victims are urged to act immediately—contact lenders, file a police complaint, and update credit bureaus—while pushing for stronger, secure data-sharing practices.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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NCDRC pierces corporate veil to force Ansal refund to homebuyers

NCDRC pierces corporate veil to force Ansal refund to homebuyers

The NCDRC has taken an unusually firm step against Ansal Properties and its affiliate Ansal Hi-Tech Township by effectively dissolving the corporate barrier between them. The move follows repeated non-compliance with earlier orders demanding refunds to aggrieved homebuyers, signaling tougher enforcement when builders try to hide behind complex corporate structures.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
RBI cracks down on mis selling and coercive recovery with new consumer protection rules

RBI cracks down on mis selling and coercive recovery with new consumer protection rules

The Reserve Bank of India is tightening customer protection through new rules aimed at stopping mis-selling of financial products and curbing coercive loan recovery practices. The RBI is also proposing a compensation framework for small value fraudulent digital transactions, seeking to make the financial system safer and more accountable for consumers nationwide.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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