What is Consumer Protection and Grievance Redressal?

Who is a Consumer?

A consumer is anyone who purchases or wants to purchase a product/service for personal use (and not for commercial use like reselling).

The purchase can be online or offline.

For example: Buying an insurance policy or investment plan from a bank/ financial institution makes you a consumer.

What do we mean by Consumer Protection?

It is the practice of protecting a buyer of goods and services from getting cheated.

It is protection against faulty products, false advertising, low quality etc.

It covers financial services and products like banking, insurance, ATMs, mutual funds etc.

Getting cheated by chit funds, not getting a claim settlement from the insurance company, someone else withdrawing money from your bank account etc. are some instances where you will be protected.

What do we mean by Redressal?

If you think you were cheated or face one of the above mentioned problems, you can make a complaint. When complaint is verified and investigated, you will get a solution to your problem. This is called redressal

The process of filing a complaint and getting a solution to your problem is easy and quick.

To track your progress