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20 A PPB CONSUMER PROTECTION ACT
What is the primary objective of the Consumer Protection Act, 2019 in the context of banking services?
The Consumer Protection Act, 2019 aims to protect the interests of consumers by providing effective mechanisms for redressal of complaints against deficient banking services, unfair trade practices, and restrictive trade practices.
What was the Consumer Protection Act that the 2019 Act replaced?
The Consumer Protection Act replaced the 1986 Act.
Who qualifies as a 'consumer' under the Consumer Protection Act, 2019 with respect to banking services?
A consumer is a person who avails banking or financial services for consideration, but does not include a person who uses such services for commercial purposes or for resale.
What is the term of office for the President of the District Consumer Disputes Redressal Commission?
The President holds office for five years or until age 65.
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