Advertisements
Advertisements
Question
Which one of the following methods of payment does not cause a deduction in the bank balance at the time of transaction?
Options
Debit Card
Credit Card
Internet Banking
Mobile Banking
Advertisements
Solution
Credit Card
Explanation:
Credit card purchases do not affect the bank balance immediately. Instead, they establish a line of credit, allowing consumers to borrow up to a set level.
APPEARS IN
RELATED QUESTIONS
Write short answer of the following.
State the responsibilities of consumers.
write short note on Consumer Rights
Pankaj purchased a car from ‘Abhishek Motors’ for < 50 lakhs. The company offered many attractive gifts to Pankaj like — free insurance for first two years, free pick-up and drop facilities for free servicing up to 20,000 km, etc. But after a few days, Pankaj noticed that the pick-up of the car was not good and there were some problems with the engine. The company serviced the car free of cost but even then Pankaj was not satisfied with its performance. ‘Abhishek Motors’ is not giving him the due response. So he filed a complaint in the State Commission but was not satisfied with its decision also. He was very much disturbed and after two months decided to appeal against it. Can Pankaj appeal against the decision of the State Commission ? Give reason in support of your answer.
What are various ways in which the objective of consumer protection can be achieved?
State with reasons whether the following statement True or False.
The Government alone is fighting for consumer protection.
Match the correct pairs :
| Group 'A' | Group 'B' |
| a. Private Company | 1. Minimum 7 members |
| b. Overdraft | 2. Saving Account |
| c. ATM | 3. 1996 |
| d. Consumer Protection Act | 4. Electronic Business |
| e. Controlling | 5. Current Account |
| 6. Maximum 50 members | |
| 7. Automatic Teller Machine | |
| 8. 1986 | |
| 9. Individual Taste | |
| 10. To take corrective action |
Mayank purchased a pack of chocolates of a renowned brand for his daughter from a shop in the nearby market. After consuming the chocolates, his daughter fell sick. He filed a case with the District forum against the renowned brand. He lost the case because of a mistake that he could not provide proof of purchase. What should be kept in mind by a consumer while purchasing, using and consuming goods and services apart from avoiding the mistake committed by Mayank, in order to enable him/her to achieve the objective of consumer protection? Enumerate any four points.
State any four responsibilities of a Consumer.
Ved and Ahmad made payments at an electronic store. While Ved paid the amount via cheque, Ahmad made his payment by using online banking. Whose payment was swift? Give a reason.
While purchasing groceries in the local market, Radha realises that the same item is priced differently in every shop.
In the above context, explain the causes of price variation faced by Radha.
