India’s pharma giants are famous for producing many low cost drugs for the developing world (an example is the provision of the life-saving anti-HIV cocktail of drugs that can increase the life expectancy of AIDS afflicted patients; the cocktail was pretty expensive, but when manufactured by Cipla, the cost had been drastically reduced making it affordable to larger sections of a poor country). At the same time, big pharma (whether it be domestic or foreign companies) are always on the lookout for making a fast buck. Some of the past practices over the world include extending the life of a patent by a very minor change, or by charging a higher price for the product if this was a monopoly. In India, the regulator has started threatening the pharma companies that have been involved in charging excessively for their drugs:

Pharma majors like Cipla, Ranbaxy and US Vitamin (India) may have to cough up over Rs 1,563 crore for overcharging customers on price-controlled medicines. Through a nation-wide survey done over a year, National Pharmaceutical Pricing Authority (NPPA) has found that pharma companies were overcharging or selling without price approval more than 530 items used for various ailments including cancer and asthma. Several antibiotics and pain-killers are part of the list of medicines listed out by the survey which found overcharging in case of 350 products and sale without price approval in case of the remaining 180. The findings of the survey were based on 850 samples collected from 19 cities.
The companies accused of violating price control norms were asked to deposit the overcharged amount with the government and explain the price hikes effected by them. Companies cannot raise prices of scheduled drugs (prices are controlled by the government in these case) beyond 10% every year. Meanwhile, NPPA has roped in district administrations to recover the overcharged amount from drug makers.

Many of these companies have gone to court or will go to court to appeal against these orders; but prima facie this seems to be a valid case. It is for the courts to decide whether these companies were indeed over-charging; however if companies were indeed doing this and consumers had to pay extra, then this is a welcome step that will help consumers struggling with the charges of medical treatment.

Most of us take a banking account for granted, not bothering to pay much attention to the bank unless we have a need or if something goes wrong. When was the last time you bothered to validate all the statements you got from your branch with the actual transaction record ? This seems like something legitimate, after all, there are many things to do in life and who could be bothered with spending so much extra time to ensure that every last dot in the banking records is fine. It required effort, attention to detail and follow-up. However, there are things you can do that do not require much additional time and will help in ensuring that your banking details are fine and accurate:
As a personal bank customer today, you need to be cautious and pay close attention to activity in your account. Bank errors and the potential of identity theft have made it imperative that you become proactive and follow simple safeguards. In addition, changes in bank policies can create confusion. Here are a few of the most common personal banking mistakes to avoid.
1. Not reviewing your bank statement promptly. The biggest personal banking mistake is not opening and looking at your bank statements when you receive them. This is the only way to know immediately if there is a mistake in the account or if the balance is below the minimum level for which you will be charged a fee. Take a few minutes to look over the bank statement.
2. Paying unnecessary fees and bank charges. Banking is a competitive business. There are banks that charge fees for various services and others that do not. Don’t pay unnecessary fees because you are too lazy to shop around. Likewise, don’t settle for lower interest rates if there are higher ones at another convenient bank.
3. Leaving a literal paper trail. Leaving discarded bank documents behind makes you an easy target for identity thieves and con artists.
If you make a mistake on a deposit slip, for example, don’t just toss it on the counter or even into the bank garbage can without tearing it up first. All bank documents that you plan to discard should be treated in the same manner — shred them or tear them up into small pieces.
4. Banking online in public places. WiFi access allows you to go online from your favorite hangout. However, you should think twice before doing any online banking transactions over a wireless service from a public place. The level of security is not the same as it is when using your own router.
5. Using an easy password. First, don’t use an obvious password like your birth date. Second, change your password periodically. Third, do not write your password down, particularly anyplace outside of your own home.
6. Failing to take ATM precautions. ATMs can be lifesavers when you need cash. However, you need to be smart and not write down your pin number, especially on your ATM card. Also, do not carry money openly out of the vestibule or use the machine at all if you do not feel physically safe.
7. Signing and endorsing checks prior to entering the bank. People do this all the time to save time. However, if you lose a signed or endorsed check, you can lose the money. Do your signing inside the bank, even if it takes a little longer.
8. Leaving bank account numbers for others to see. If you are reviewing your bank statement at the office, put it in your pocket or purse when you are done. The same holds true for all bank related documents.
9. Assuming you must borrow from your bank. If you need a loan or are in the process of seeking a mortgage, it is not necessary that you give your bank the business. You can certainly include them in your search, but you should certainly shop around.
10. Not establishing a relationship. Whether you are banking online or in person, you should get to know the customer service staff. Meet the branch manager and establish a rapport with the people holding onto your money.

“National Consumer Helpline” has been set in the University of Delhi with support from the Department of Consumer Affairs, Govt. of India and with financial assistance from Consumer Welfare Fund. A tool free number -1800 11 4000 (available from MTNL and BSNL phones) has been setup for this purpose. The project recognizes the need of consumers for a Telephone Helpline to deal with a host of problems arising in their day-to-day dealings with business and service providers. Consumers from any part of the country can dial the toll free number 1600 11 4000 from any BSNL or MTNL telephone line between 9 a.m. and 5.30 p.m. on all working days, according to the Commissioner Civil Supplies.
The Helpline advises consumers on dealing with problems related to defective products, deficiency in services and unfair trade practices. The Helpline helps in a number of different areas:
Service Sector: LPG, Electricity, Telecom, Banking, Insurance, Credit cards, Automobiles, Postal, Courier, water, Transport, Education and Medical etc.
Products: Domestic Home Appliances in the range of computers, handycam, Acs, Microwave, Television, Coolers, Fans, Washing Machines, Gas burner, Water Purifier, Mobile Phone, VCD/DVD/CD Player, Food Processor, Invertors and Shoes etc.

National Consumer Helpline exists to support consumers by performing the following task:
* Guiding consumers in finding solution to problem related to Products and Services.
* Providing consumers with all the desired information related to companies and Regulatory Authorities.
* Facilitating Consumers with all the steps involved in filing complaints against defaulting service provider.
* Empowering consumers to use Consumer Grievances redressal mechanism available to them.
* Developing the awareness among Consumers about their Rights and Responsibilities.

In addition, a Consumer Online Resource and Empowerment (CORE) project has been setup on the following site http://www.core.nic.in/. The mission of this site and project is: “To be an effective national coalition of consumer protection groups so as to provide thrust to common issues affecting consumers.”
Aims & Objectives
· Influencing policies, legislation and administrative framework towards promoting consumer interests.
· Empowering consumer protection groups to work towards strengthening the civil society in the democratic system of the country.
CCC has been involved both in the drawing up of appropriate Citizens’ Charters for various organizations, as also in the evaluation of their implementation in the Health, Telecom, Railways, Insurance & Banking Sectors. Address details:
Consumer Coordination Council
CORE Centre
NITS
A 20- 21, Sector 62,
NOIDA- 201307 (U.P)
Tel: 0120-2404273
Email: cccdel@del3.vsnl.net.in
director@core.nic.in
Web: www.core.nic.in

We have come to regard bank drop boxes as a great extension of the branch; dropping checks, payment, check book requirements, and similar requests into these drop boxes. For credit card payments, where the required date is very close or even today, it seems like we can just drop the check in the drop box the same day and avoid a late payment. So, it will surprise people to know that this is nowhere near being a fool-proof instrument, and is subject to many delays and lack of responsibility by the bank. Refer this article:

A Mumbai resident recently dropped his credit card payment cheque in a box placed at a travel company. Although he dropped it four days before the due date, the amount was not debited from his account. Despite registering a complaint with the bank’s customer care helpline, his card was deactivated. To top it, he has been asked to pay a late fee and finance charges.
While most of us agree that drop boxes at “offsite” centres offer the extra convenience of accessibility, there are suspicions that sometimes they don’t get as regularly cleared as at banks. Besides, a senior banker warns, cheques have been known to get misplaced and misused. Since there is no system of listing cheque details at these drop boxes, it is unfortunately the customer’s word against the bank in a dispute. The official categorically says, “If a drop box does not belong to the bank, using it is at the customer’s risk. For that, we cannot hold the bank responsible.”

Not many customers are aware that the bank does not take ownership for the drop boxes placed at third parties. You can drop a check at the drop box placed in a bank ATM or at the branch, and even there you don’t have any proof of having deposited the check. But if you have deposited the check at a drop box located at a shop or any other such location, then the bank does not even claim ownership of the drop box and will refuse to take any liability for the check. This is a very strange and absurd situation. If a bank has placed a drop box anywhere and expects the customer to use the drop box as representing the bank, then it needs to take responsibility for this facility.