Consumer forum penalizes credit cooperative society

The Indore district consumer forum has penalized a credit cooperative society for not paying the maturity amount of a fixed deposit (FD) by a customer. The cooperative society has been ordered to pay a matured FD amount of Rs 61,468 along with 8 per cent annual interest from the year 2006 to the year 2015. The forum also slapped a fine of Rs 4,000 on the society for harassing the customer and for the case charges.

Complainant Laxmi Bai Kadela, 52, initiated a fixed deposit of Rs 60,000 at Sahakari Sakh Sanstha Maryadit on 6 June 2006. The amount matured on 6 December 2006 and summed up to Rs 61, 468.

During that period the plaintiff needed money and she took a loan of Rs 20,000 from the same cooperative society. The plaintiff, however, was unable to give interest on the loan as her husband had died and she was in need of money.

Laxmi Bai urged Sahakari Sakh Sanstha Maryadit to refund the money of the fixed deposit account but the cooperative society did not do so.

On the other side, the amount of interest on the loan was increasing. Finally, the amount of loan compounded to Rs 45, 498 with interest. If the credit cooperative society had returned the money of the customer, she might have deposited the amount of loan.

Finally, the plaintiff registered a complaint at the district consumer forum. The forum found the cooperative society guilty and penalized it.

Indians consume more calories via homemade food than packaged food and drinks: Experts

Indian consumers on average purchased just 151 calories each day through packaged food and soft drinks in 2014, less than a fifth of the global average of 765 calories. In fact, India ranked among the lowest in sugar, fat, carbohydrates and salt content purchase from outside food, even as markets such as the United States and Europe consumed 10 times more in comparison, according to new findings from market researcher Euromonitor International.

Experts feel there is a mismatch in India between a relatively small packaged food and beverages industry and a large population, where everyone still doesn’t buy packaged products.

“Indians consume calories mostly in unpackaged format through homemade food, which is generally calorie-dense compared to western countries, where cooked food is protein-rich and relatively healthy but consumption of processed products is several times more,” said Devendra Chawla, Future Group’s president for food and FMCG business. “Also, Indian consumers have preference for street food, which is mostly deep-fried and calorie-rich.”

India, the diabetes capital of the world, has been witnessing consumers getting health-conscious and even the government considering banning junk food in schools. On the other hand, fast-food chains in India are trying to overcome criticism that the dishes they serve are unhealthy, given the amount of sugar, salt and chemical additives contained.

However, two of India's largest food categories, snacks and biscuits, have seen limited experimentation with a healthy portfolio and hardly any traction in terms of sales. Oils and fats, bakery and dairy are the top three contributors of calories, with bakery being the leading source of protein, delivering up to five