insurance

Finance Minister Nirmala Sitharaman announces Rs 1.7 lakh crore economic relief package

Finance Minister Nirmala Sitharaman announces Rs 1.7 lakh crore economic relief package

In a recent move to pacify the poor who have been hard hit by the COVID-19 lockdown, which began on March 25th, the Finance Minister, Nirmala Sitharaman, recently announced an economic relief package worth Rs 1.7 lakh crore as a safety net in these desperate times. In order to survive through the coronavirus scare, she…

SC: Beneficiaries of an Insurance Contract are “Consumers”

SC: Beneficiaries of an Insurance Contract are “Consumers”

In the case of Canara Bank v. United India Insurance Company Ltd. and Ors., the Supreme Court of India held that beneficiaries of an insurance policy come within the scope of ‘consumers’ as defined by Section 2(d) of Consumer Protection Act. In this case, certain farmers were using a cold storage company called Sreedevi Cold…