Consumer and Investor Protection and Ombudsman

The video covers consumer protection in financial services, emphasizing transparency, fair practices, and data security. It discusses redressal mechanisms like internal grievance systems and the role of the Financial Ombudsman. Cybersecurity guidelines by SEBI are highlighted, along with innovation and regulatory sandboxes for fintech testing. The Investor Education and Protection Fund's objectives are explained, followed by an overview of regulatory bodies like SEBI and consumer courts. The Ombudsman's role in mediating disputes and promoting fair resolution is detailed, concluding with the importance of understanding consumer rights.

What is a key aspect of consumer protection in financial services?

• Ensuring transparency and fair practices

• Providing unlimited credit

• Guaranteeing investment returns

• Offering high-interest rates

What is the primary goal of cybersecurity guidelines issued by Sebi?

• To promote international trade

• To prevent cyberattacks and ensure resilience

• To reduce employee workload

• To increase financial profits

What is the purpose of the Innovation Sandbox introduced by Sebi?

• To promote foreign investments

• To eliminate financial regulations

• To increase stock market volatility

• To provide a platform for testing fintech innovations

What is the main objective of the Investor Education and Protection Fund?

• To offer tax benefits

• To regulate stock prices

• To create awareness and address investor grievances

• To provide loans to investors

Which regulatory body acts as the guardian of the securities market in India?

• Consumer Courts

• Sebi

• Pension Fund Regulatory and Development Authority

• Ministry of Finance

What is a key function of the Ombudsman in consumer protection?

• To increase product prices

• To mediate disputes and offer cost-effective solutions

• To promote company profits

• To provide legal representation

How does the existence of an Ombudsman benefit businesses?

• By encouraging adherence to consumer protection laws

• By eliminating taxes

• By reducing competition

• By increasing market share