The Consumer Protection Act was passed in ?->(Show Answer!)

1. The Consumer Protection Act was passed in

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QA->The objective of Consumer Protection Act is :....

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QA->Consumer Protection Act was enacted in the year :....

QA->CONSUMER PROTECTION ACT WAS ENACTED IN WHICH YEAR....

QA->IN WHICH YEAR CONSUMER PROTECTION ACT WAS ENACTED BY INDIAN PARLIAMENT....

MCQ-> Read the following passage based on an Interview to answer the given questions based on it. Certain words are printed in bold to help you locate them while answering some of the questions.A spate of farmer suicides linked to harassment by recovery agents employed by micro finance institutions (MFLs) in Andhra Pradesh spurned the state government to bring in regulation to protect consumer interests. But, while the Bill has brought into sharp focus the need for consumer protection, it tries to micro-manage MFI operations and in the process it could scuttle some of the crucial bene ts that MFIs bring to farmers, says the author of Micro nance India, State Of The Sec-for Report 2010. In an interview he points out that prudent regulation can ensure the original goal of the MFIs - social uplift of the poor. Do you feel the AP Bill to regulate Mils is well thought out? Does it ensure fairness to the borrowers and the long-term health of the sector? The AP Bill has brought into sharp focus the need for customer protection in four critical areas. First is pricing. Second is lender's liability whether the lender can give too much loan without assessing the customer's ability to pay. Third is the structure of loan repayment - whether you can ask money on a weekly basis from people who don't produce weekly incomes. Fourth is the practices that attend to how you deal with defaults. But the Act should have looked at the positive bene ts that institutions could bring in, and where they need to be regulated in the interests of the customers. It should have brought only those features in. Say, you want the recovery practices to be consistent with what the customers can really manage. If the customer is aggrieved and complains that somebody is harassing him, then those complaints should be investigated by the District Rural Development Authority. Instead what the Bill says is that MF1s cannot go to the customer's premises to ask for recovery and that all transactions will be done in the Panchayat of ce. With great dif culty, MFIs brought services to the door of people. It is such a relief for the customers not to be spending time out going to banks or Panchayat of ces, which could be 10 km away in some cases. A facility which has brought some relief to people is being shut. Moreover, you are practically telling the MFI where it should do business and how it should do it. Social responsibilities were inbuilt when the MIrls were rst conceived. If kills go for profit with loose regulations, how are they different from moneylenders? Even among moneylenders there are very good people who take care of the customer's circumstance, and there are really bad ones. A large number of the MF1s are good and there are some who are coercive because of the kind of prices and processes they have adopted. But Moneylenders never got this organised. They did not have such a large footprint. An MFI brought in organisation, it mobilized the equity, it brought in commercial funding. It invested in systems. It appointed a large number of people. But some of them exacted a much higher price than they should have. They wanted to break even very fast and greed did take over in some cases.Are the for-profit 'Ms the only ones harassing people for recoveries? Some not-for-profit out ts have also adopted the same kind of recovery methods. That may be because you have to show that you are very ef cient in your recovery methods and that your portfolio is of a very high quality if you want to get commercial funding from a bank. In fact, among for-profits there are many who have sensible recovery practices. Some have fortnightly recovery, some have monthly recovery. So we have differing practices. We just describe a few dominant ones and assume every for-profit MFI operates like that. How can you introduce regulations to ensure social upliftment in a sector that is moving towards for-profit models? I am not really concerned whether someone wants to make a profit or not The bottom-line for me is customer protection. The rst area is fair practices. Are you telling your customers how the loan is structured ? Are you being transparent about your performance? There should also be a lender's liability attached to what you do. Suppose you lend excessively to a customer without assessing their ability to service the loan, you have to take the hit. Then there's the question of limiting returns. You can say that an MFI cannot have a return on assets more than X, a return on equity of more than Y. Then suppose there is a privately promoted MFI, there should be a regulation to ensure the MFI cannot access equity markets till a certain amount of time. MFIs went to markets perhaps because of the need to grow too big too fast. The government thought they were making profit off the poor, and that's an indirect reason why they decided to clamp down on MF1s. If you say an MFI won't go to capital market, then it will keep political compulsions under rein.Which of the following best explains "structure of loan repayment" in this context of the rst question asked to the author ?....

MCQ-> Read the data given below and answer the questions based on it. There were 3 sections namely A, B, and C in a test. Out of three sections, 33 students passed in Section A. 34 students passed in Section B and 32 passed in Section C. 10 students passed in Section A and Section B. 9 passed in Section B and Section C, 8 passed in Section A and Section C. The number of students who passed each section alone was equal and was 21 for each section.The ratio of the number of students passed in one or more of the sections to the number of students who passed in Section 7 A alone is:
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MCQ-> Read the passage given below and answer the questions that follow it:There are no Commandments in art and no easy axioms for art appreciation. “Do I like this?” is the question anyone should ask themselves at the moment of confrontation with the picture. But if “yes,” why “yes”? and if “no,” why “no”? The obvious direct emotional response is never simple, and ninety-nine times out of a hundred, the “yes” or “no” has nothing at all to do with the picture in its own right. “I don’t understand this poem” and “I don’t like this picture” are statements that tell us something about the speaker. That should be obvious, but in fact, such statements are offered as criticisms of art, as evidence against, not least because the ignorant, the lazy, or the plain confused are not likely to want to admit themselves as such. We hear a lot about the arrogance of the artist but nothing about the arrogance of the audience. The audience, who have given no thought to the medium or the method, will glance up, flick through, chatter over the opening chords, then snap their fingers and walk away like some monstrous Roman tyrant. This is not arrogance; of course, they can absorb in a few moments, and without any effort, the sum of the artist and the art.Admire me is the sub-text of so much of our looking; the demand put on art that it should reflect the reality of the viewer. The true painting, in its stubborn independence, cannot do this, except coincidentally. Its reality is imaginative not mundane.When the thick curtain of protection is taken away; protection of prejudice, protection of authority, protection of trivia, even the most familiar of paintings can begin to work its power. There are very few people who could manage an hour alone with the Mona Lisa. Our poor art-lover in his aesthetic laboratory has not succeeded in freeing himself from the protection of assumption. What he has found is that the painting objects to his lack of concentration; his failure to meet intensity with intensity. He still has not discovered anything about the painting, but the painting has discovered a lot about him. He is inadequate, and the painting has told him so.When you say “This work is boring/ pointless/silly/obscure/élitist etc.,” you might be right, because you are looking at a fad, or you might be wrong because the work falls so outside of the safety of your own experience that in order to keep your own world intact, you must deny the other world of the painting. This denial of imaginative experience happens at a deeper level than our affirmation of our daily world. Every day, in countless ways, you and I convince ourselves about ourselves. True art, when it happens to us, challenges the “I” that we are and you say, “This work has nothing to do with me.”Art is not a little bit of evolution that late-twentieth-century city dwellers can safely do without. Strictly, art does not belong to our evolutionary pattern at all. It has no biological necessity. Time taken up with it was time lost to hunting, gathering, mating, exploring, building, surviving, thriving. We say we have no time for art. If we say that art, all art. is no longer relevant to our lives, then we might at least risk the question “What has happened to our lives?” The usual question, “What has happened to art?” is too easy an escape route.A young man visits a critically acclaimed modern art exhibition in his city and finds that he doesn’t like any of the exhibits. If he were to share his experience with the author of the passage, which of the following is most likely to be the author’s response?
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MCQ-> Read the passage carefully and answer the questions given at the end of each passage:Turning the business involved more than segmenting and pulling out of retail. It also meant maximizing every strength we had in order to boost our profit margins. In re-examining the direct model, we realized that inventory management was not just core strength; it could be an incredible opportunity for us, and one that had not yet been discovered by any of our competitors. In Version 1.0 the direct model, we eliminated the reseller, thereby eliminating the mark-up and the cost of maintaining a store. In Version 1.1, we went one step further to reduce inventory inefficiencies. Traditionally, a long chain of partners was involved in getting a product to the customer. Let’s say you have a factory building a PC we’ll call model #4000. The system is then sent to the distributor, which sends it to the warehouse, which sends it to the dealer, who eventually pushes it on to the consumer by advertising, “I’ve got model #4000. Come and buy it.” If the consumer says, “But I want model #8000,” the dealer replies, “Sorry, I only have model #4000.” Meanwhile, the factory keeps building model #4000s and pushing the inventory into the channel. The result is a glut of model #4000s that nobody wants. Inevitably, someone ends up with too much inventory, and you see big price corrections. The retailer can’t sell it at the suggested retail price, so the manufacturer loses money on price protection (a practice common in our industry of compensating dealers for reductions in suggested selling price). Companies with long, multi-step distribution systems will often fill their distribution channels with products in an attempt to clear out older targets. This dangerous and inefficient practice is called “channel stuffing”. Worst of all, the customer ends up paying for it by purchasing systems that are already out of date Because we were building directly to fill our customers’ orders, we didn’t have finished goods inventory devaluing on a daily basis. Because we aligned our suppliers to deliver components as we used them, we were able to minimize raw material inventory. Reductions in component costs could be passed on to our customers quickly, which made them happier and improved our competitive advantage. It also allowed us to deliver the latest technology to our customers faster than our competitors. The direct model turns conventional manufacturing inside out. Conventional manufacturing, because your plant can’t keep going. But if you don’t know what you need to build because of dramatic changes in demand, you run the risk of ending up with terrific amounts of excess and obsolete inventory. That is not the goal. The concept behind the direct model has nothing to do with stockpiling and everything to do with information. The quality of your information is inversely proportional to the amount of assets required, in this case excess inventory. With less information about customer needs, you need massive amounts of inventory. So, if you have great information – that is, you know exactly what people want and how much - you need that much less inventory. Less inventory, of course, corresponds to less inventory depreciation. In the computer industry, component prices are always falling as suppliers introduce faster chips, bigger disk drives and modems with ever-greater bandwidth. Let’s say that Dell has six days of inventory. Compare that to an indirect competitor who has twenty-five days of inventory with another thirty in their distribution channel. That’s a difference of forty-nine days, and in forty-nine days, the cost of materials will decline about 6 percent. Then there’s the threat of getting stuck with obsolete inventory if you’re caught in a transition to a next- generation product, as we were with those memory chip in 1989. As the product approaches the end of its life, the manufacturer has to worry about whether it has too much in the channel and whether a competitor will dump products, destroying profit margins for everyone. This is a perpetual problem in the computer industry, but with the direct model, we have virtually eliminated it. We know when our customers are ready to move on technologically, and we can get out of the market before its most precarious time. We don’t have to subsidize our losses by charging higher prices for other products. And ultimately, our customer wins. Optimal inventory management really starts with the design process. You want to design the product so that the entire product supply chain, as well as the manufacturing process, is oriented not just for speed but for what we call velocity. Speed means being fast in the first place. Velocity means squeezing time out of every step in the process. Inventory velocity has become a passion for us. To achieve maximum velocity, you have to design your products in a way that covers the largest part of the market with the fewest number of parts. For example, you don’t need nine different disk drives when you can serve 98 percent of the market with only four. We also learned to take into account the variability of the lost cost and high cost components. Systems were reconfigured to allow for a greater variety of low-cost parts and a limited variety of expensive parts. The goal was to decrease the number of components to manage, which increased the velocity, which decreased the risk of inventory depreciation, which increased the overall health of our business system. We were also able to reduce inventory well below the levels anyone thought possible by constantly challenging and surprising ourselves with the result. We had our internal skeptics when we first started pushing for ever-lower levels of inventory. I remember the head of our procurement group telling me that this was like “flying low to the ground 300 knots.” He was worried that we wouldn’t see the trees.In 1993, we had $2.9 billion in sales and $220 million in inventory. Four years later, we posted $12.3 billion in sales and had inventory of $33 million. We’re now down to six days of inventory and we’re starting to measure it in hours instead of days. Once you reduce your inventory while maintaining your growth rate, a significant amount of risk comes from the transition from one generation of product to the next. Without traditional stockpiles of inventory, it is critical to precisely time the discontinuance of the older product line with the ramp-up in customer demand for the newer one. Since we were introducing new products all the time, it became imperative to avoid the huge drag effect from mistakes made during transitions. E&O; – short for “excess and obsolete” - became taboo at Dell. We would debate about whether our E&O; was 30 or 50 cent per PC. Since anything less than $20 per PC is not bad, when you’re down in the cents range, you’re approaching stellar performance.Find out the TRUE statement:
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MCQ-> Analyze the following passage and provide appropriate answers for the questions that follow. Either explicitly or implicitly, our informants suggest that the objects that transfix them are hoped to be conduits to, rather than surrogates for, love, respect, recognition, status, security, escape, or attractiveness. These are the social relations we desire, consciously or subconsciously, beneath the objects that we find so compelling. The value of the objects that we focus our longing upon inheres less in the object or in a Lacanian search for childhood love than in the culture. The hope for the hope that an altered state of being may result keeps the cycle of desire moving. Desires are nurtured by self-embellished fantasies of a wholly different self, and they may be stimulated by external sources, including advertising, retail displays, films, television programs, stories told by other people, and the consumption behavior of real or imaginary others. But we find that the person who feels strong desire has almost always actively stimulated this desire by attending, seeking out, entertaining, and embellishing such images. The desires that occupy us are vivid and riveting fantasies that we participate in nurturing, growing, and pursuing, through self-seduction. The social nature of desire implies that preferences of consumers are far from being independent. Yet, choice models assume that preferences of consumers act as individuals. The mimetic aspect of desire creates difficulties for using individual attitude or intention measures to predict adoption of new products whose use will be visible. The notion of desire we have derived suggests that the appeal of the desired object is not inherent in the object itself. Models that begin with preferences for product attributes or benefits are therefore problematic. The consumer, individually and jointly, has a role in constructing the object of desire, within a social context. What makes consumer desire attach to a particular object is not so much the object’s particular characteristics as the consumer’s own hopes for an altered state of being,involving an altered set of social relationships.Consider the statement given below as true: “The failure of men to transition from being shoppers and consumers to producers and creators has implications about their manliness.” Which of the following statements would concur with the above idea and the theme of the main paragraph?....