It all started about 2 years ago
It all started about 2 years ago. I was a college student in a rural southern town with a diminishing bank account. I constantly looked for ways to make money online so I could avoid working a $6 per hour job at a local restaurant.
My first peek at online income came with a promise of huge earnings in only 12 days. Yes I am talking about the famous Ponzi scheme 12dailypro. A small group of kids from my high school had stumbled upon this website soon after it had launched, and they continued to sign everyone they knew up... including me. I was a little late however. The site was closed and deemed illegal just a month after I had signed up. So much for making a fortune like my classmates.
Now I was hooked. Just the thought of being able to make money with a website made my mouth water. I had just quit my job as a valet to come to school. It was obvious that there was no way I was going to make the money I was making parking cars at college. I decided to take some of the money I had saved and devote it to creating my online empire.
My next step was affiliate marketing. I read tons of articles and blogs about making money with affiliate programs with pay per click advertising. After doing some research I decided to take the plunge and start a few ad campaigns with Google's Adwords. I ended up losing a little money, but nothing like any of the horror stories you read about online.
One day out of the blue I decided to start an ad campaign on overture. I set it up, set a budget, and forgot about it. That is until the next day when I checked to see if there were any sales. Over $200 dollars in sales for the day! What a feeling. After my advertising expenses I had profited about $100 for the day. I was ecstatic. This went on for a month or so until the product I was selling became popular with other affiliates and the price per click went up to the point where I could no longer make a profit. Fun while it lasted.
It was right around this time when I began getting involved with poker affiliate programs. I had been reading tons of blogs and articles about the top affiliates who were making $20,000 or more per month, and I was ready to do this myself.
Just like any other newbie would do, I dove in head first. Party Poker was the first room I decided to promote. I looked to the third tier search engines that allowed gambling content so I could start an ad campaign. I bought a domain name and spent about $350 in a week with over 50 play money signups. Sadly, only three converted into real money sign ups, two of which were on the mgr plan and one on a cpa plan. So I was busted, and I could not afford to lose any more money to PPC advertising. With no more drive, I soon lost focus.
I let the poker affiliate programs drift away into the back of my mind. From here I went back and forth between marketing informational products and playing online poker. Neither of which was I any good at. My funds were dwindling and I was forced to work at a hell hole of a restaurant called Locos. I delivered food for $4.50 an hour plus tips.
Fast forward nine months. Luckily the two players that I had signed up on the mgr plan had been playing like crazy. Although it took a while to recover the initial loss of $350 I had suffered to acquire these players, I was eventually out of the red. This was enough to take the sting off and spark my interest again. I decided to try again.
I had now learned that my new friend who lived across the hall, Brent, could design attractive websites. One 30 pack of Keystone Light and I had a decent website to work with. Done deal.
I decided to give PPC advertising the middle finger and go for a content driven web site that gets organic traffic from search engines. This is much easier said than done. Luckily the domain I had purchased earlier in the year had a little age on it. I was amazed to learn about how much competition there is for poker and casino affiliates. I knew that it was going to take tons of work to make any progress. There was no way I could ever be successful at this by myself.
I would have to guess that around this time is when I discovered Poker Affiliate World. I read through their forums everyday trying to pick up on what the successful affiliates were doing. Some people had started huge portals, others had started poker leagues, some started local based sites and promoted them in their college towns. What separated these guys from the rest is that they were all so willing to help each other. Although it would be months before I registered and made a post, I had found my resource for help.
Present day: I currently have two poker related websites and two more in the making. My earnings are nothing spectacular, but enough to keep me wanting more.
I had to leave the rural town where I was in college to come back and work in the big city. There is only so much dishwashing one can take before throwing in the towel (pardon the pun). I currently work as a valet at night and a poker affiliate during the day. I think it's a good balance. Just enough hard work at night to make me want to become successful enough to quit work as a valet.
If there is any advice I could give to anyone before getting started in this industry is to do your homework. Don't listen to the hype about the fortune you will make. Read this article about the mistakes new affiliates make. It will help. When your done reading that read 3 Tips for New Poker Affiliates or Publishers.
Tuesday, July 10, 2007
38 steps to becoming a trader
38 steps to becoming a trader
They are as follows
:1. We accumulate information - buying books, going to seminars and researching.
2. We begin to trade with our 'new' knowledge.
3. We consistently 'donate' and then realise we may need more knowledge or information.
4. We accumulate more information.
5. We switch the commodities we are currently following.
6. We go back into the market and trade with our 'updated' knowledge.
7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in.
8. We start to listen to 'outside news' and to other traders.
9. We go back into the market and continue to 'donate'.10. We switch commodities again.
11. We search for more information.
12. We go back into the market and start to see a little progress.
13. We get 'over-confident' and the market humbles us.
14. We start to understand that trading successfully is going to take more time and more knowledge than we anticipated.MOST PEOPLE WILL GIVE UP AT THIS POINT, AS THEY REALISE WORK IS INVOLVED.
15. We get serious and start concentrating on learning a 'real' methodology.
16. We trade our methodology with some success, but realise that something is missing.
17. We begin to understand the need for having rules to apply our methodology.
18. We take a sabbatical from trading to develop and research our trading rules.
19. We start trading again, this time with rules and find some success, but over all we still hesitate when we execute.
20. We add, subtract and modify rules as we see a need to be more proficient with our rules.
21. We feel we are very close to crossing that threshold of successful trading.
22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology.
23. We continue to trade and become more proficient with our methodology and our rules.
24. As we trade we still have a tendency to violate our rules and our results are still erratic.
25. We know we are close.
26. We go back and research our rules.
27. We build the confidence in our rules and go back into the market and trade.
28. Our trading results are getting better, but we are still hesitating in executing our rules.
29. We now see the importance of following our rules as we see the results of our trades when we don't follow the rules.
30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better.
31. We continue to trade and the market teaches us more and more about ourselves.
32. We master our methodology and our trading rules.
33. We begin to consistently make money.
34. We get a little over-confident and the market humbles us.
35. We continue to learn our lessons.
36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading accountcontinues to grow as we increase our contract size.
37. We are making more money than we ever dreamed possible.
38. We go on with our lives and accomplish many of the goals we had always dreamed of.
Good Taste: Top 5 Foods to Prevent Bad Breath
Good Taste: Top 5 Foods to Prevent Bad Breath
by Marin Gazzaniga for MSN Health & Fitness
Bad breath results from two key issues: oral hygiene and gastrointestinal health.
Basically this means that breath odors originate not just inside the mouth but
also from your digestive tract. The culprit in both cases is largely bacteria.
Doctors will tell you that if you have bad breath, you should first make sure
you are eating right (getting a balanced diet of protein, carbs, lots of fruits and
veggies and plenty of fluids to keep the GI tract healthy) and brushing and
flossing after every meal. But that still doesn’t mean you might not be
offending your friends and co-workers after lunch at the new Italian place. Here
are some things you can ingest (or chew) that can help.
1. Chew on this. Move over parsley, there are some new halitosis-fighting
herbs in town. “Coriander, spearmint, tarragon, eucalyptus, rosemary and
cardamom are all good for fighting bad breath,” says Dr. Christine Gerbstadt,
who has lectured on oral health. You can chew on fresh herbs or make tonics
by steeping them in hot water (as a tea). These herbs make an excellent
digestive as well—doubling the benefits of ending a meal this way.
2. Get some active culture. No, not Cirque de Soleil, but yogurt. A recent
study found that a serving of yogurt each day reduces the level of odor-causing
hydrogen sulfide in the mouth. Apparently it also cuts back on bacteria in the
mouth—plaque and gum disease were reduced in the study’s yogurt eaters as
well. Plus, the American Dietetic Association (ADA) recommends getting
enough vitamin D from yogurt, cheese and milk if you’re worried about
halitosis because this vitamin creates an inhospitable environment for bacteria
growth. Be sure to get the kind of yogurt with active cultures—not overly
processed or sugar-added varieties.
3. Crunchy types. Apples, carrots, celery—basically any fiber-rich fruit or
Vegetable is your friend when it comes to fighting halitosis. “Inside your
Mouth, plaque build-up causes odors,” explains Cynthia Sass, ADA
Spokeswoman and registered dietician. “Eating foods that increase saliva
Production keep the mouth moist—and rinsed out Also, many curbs and
Proteins can get stuck in your teeth—even healthy foods like whole grain cereal
or chicken breast.” So follow a meal with a Granny Smith (feel the saliva kick
in at the mention of it?) to cleanse the mouth.
4. Masking techniques. Sugarless gum shouldn’t replace brushing your teeth
After a meal, but in a pinch it can freshen breath (masking odors) and is another
Way to increase saliva production to rinse away plaque and bacteria. Mints can
Mask as well, but only briefly—and go for sugarless. Sugar creates plaque, and
no one wants a mint that makes breath worse.
5. High C’s. Eating berries, citrus fruits, melons and other vitamin C-rich foods
Create an inhospitable environment for bacteria growth. A diet rich in vitamin C is also is important for preventing gum disease and gingivitis—both major
Causes of halitosis. Get your C in foods, not supplements, which can cause
Gastrointestinal upset in some, according to Sass, and exacerbate bad breath.
by Marin Gazzaniga for MSN Health & Fitness
Bad breath results from two key issues: oral hygiene and gastrointestinal health.
Basically this means that breath odors originate not just inside the mouth but
also from your digestive tract. The culprit in both cases is largely bacteria.
Doctors will tell you that if you have bad breath, you should first make sure
you are eating right (getting a balanced diet of protein, carbs, lots of fruits and
veggies and plenty of fluids to keep the GI tract healthy) and brushing and
flossing after every meal. But that still doesn’t mean you might not be
offending your friends and co-workers after lunch at the new Italian place. Here
are some things you can ingest (or chew) that can help.
1. Chew on this. Move over parsley, there are some new halitosis-fighting
herbs in town. “Coriander, spearmint, tarragon, eucalyptus, rosemary and
cardamom are all good for fighting bad breath,” says Dr. Christine Gerbstadt,
who has lectured on oral health. You can chew on fresh herbs or make tonics
by steeping them in hot water (as a tea). These herbs make an excellent
digestive as well—doubling the benefits of ending a meal this way.
2. Get some active culture. No, not Cirque de Soleil, but yogurt. A recent
study found that a serving of yogurt each day reduces the level of odor-causing
hydrogen sulfide in the mouth. Apparently it also cuts back on bacteria in the
mouth—plaque and gum disease were reduced in the study’s yogurt eaters as
well. Plus, the American Dietetic Association (ADA) recommends getting
enough vitamin D from yogurt, cheese and milk if you’re worried about
halitosis because this vitamin creates an inhospitable environment for bacteria
growth. Be sure to get the kind of yogurt with active cultures—not overly
processed or sugar-added varieties.
3. Crunchy types. Apples, carrots, celery—basically any fiber-rich fruit or
Vegetable is your friend when it comes to fighting halitosis. “Inside your
Mouth, plaque build-up causes odors,” explains Cynthia Sass, ADA
Spokeswoman and registered dietician. “Eating foods that increase saliva
Production keep the mouth moist—and rinsed out Also, many curbs and
Proteins can get stuck in your teeth—even healthy foods like whole grain cereal
or chicken breast.” So follow a meal with a Granny Smith (feel the saliva kick
in at the mention of it?) to cleanse the mouth.
4. Masking techniques. Sugarless gum shouldn’t replace brushing your teeth
After a meal, but in a pinch it can freshen breath (masking odors) and is another
Way to increase saliva production to rinse away plaque and bacteria. Mints can
Mask as well, but only briefly—and go for sugarless. Sugar creates plaque, and
no one wants a mint that makes breath worse.
5. High C’s. Eating berries, citrus fruits, melons and other vitamin C-rich foods
Create an inhospitable environment for bacteria growth. A diet rich in vitamin C is also is important for preventing gum disease and gingivitis—both major
Causes of halitosis. Get your C in foods, not supplements, which can cause
Gastrointestinal upset in some, according to Sass, and exacerbate bad breath.
how to calculate sensex
How to calculate BSE SENSEX?
This article explains how the value of the “BSE Sensex” or “sensitive index” is calculated. If you are not sure what we mean by the Sensex or what the Sensex is all about, you can find this out by reading our “How to make money in the stock market?” article.The Sensex has a very important function. The Sensex is supposed to be an indicator of the stocks in the BSE. It is supposed to show whether the stocks are generally going up, or generally going down. To show this accurately, the Sensex is calculated taking into consideration stock prices of 30 different BSE listed companies. It is calculated using the “free-float market capitalization” method. This is a world wide accepted method as one of the best methods for calculating a stock market index. Please note: The method used for calculating the Sensex and the 30 companies that are taken into consideration are changed from time to time. This is done to make the Sensex an accurate index and so that it represents the BSE stocks properly. To really understand how the Sensex is calculated, you simply need to understand what the term “free-float market capitalization” means. (As we said earlier, the Sensex is calculated on basis of the “free-float market capitalization” method) But, before we understand what “free-float market capitalization” means, you first need to understand what “market capitalization” means.
What is "market capitalization"?
You probably think that you have never heard of the term “market capitalization” before. You have! When you are talking about “mid-cap”, “small-cap” and “large-cap” stocks, you are talking about market capitalization!Market cap or market capitalization is simply the worth of a company in terms of it’s shares! To put it in a simple way, if you were to buy all the shares of a particular company, what is the amount you would have to pay? That amount is called the “market capitalization”! To calculate the market cap of a particular company, simply multiply the “current share price” by the “number of shares issued by the company”! Just to give you an idea, ONGC, has a market cap of “Rs.170,705.21 Cr” (when this article was written)Depending on the value of the market cap, the company will either be a “mid-cap” or “large-cap” or “small-cap” company! Now the question is, how do YOU calculate the market cap of a particular company? You don’t! Just go to a website like MoneyControl.com and look up the company whose market cap you are interested in finding out! The figure in front of “Mkt. Cap” will be the market cap value.Having seen what market cap is and how to find out the market cap of a particular company, let us try to understand the concept of “free-float market cap”
What is "free-float market capitalization"?
Many different types of investors hold the shares of a company! The Govt. may hold some of the shares. Some of the shares may be held by the “founders” or “directors” of the company. Some of the shares may be held by the FDI’s etc. etc!Now, only the “open market” shares that are free for trading by anyone, are called the “free-float” shares. When we are calculating the Sensex, we are interested in these “free-float” shares!A particular company, may have certain shares in the open market and certain shares that are not available for trading in the open market. According the BSE, any shares that DO NOT fall under the following criteria, can be considered to be open market shares:
· Holdings by founders/directors/ acquirers which has control element
· Holdings by persons/ bodies with "controlling interest"
· Government holding as promoter/acquirer
· Holdings through the FDI Route
· Strategic stakes by private corporate bodies/ individuals
· Equity held by associate/group companies (cross-holdings)
· Equity held by employee welfare trusts
· Locked-in shares and shares which would not be sold in the open market in normal course.
A company has to submit a complete report about “who has how many of the company’s shares” to the BSE. On the basis of this, the BSE will decide the “free-float factor” of the company. The “free-float factor” is a very valuable number! If you multiply the "free-float factor" with the “market cap” of that company, you will get the “free-float market cap” which is the value of the shares of the company in the open market!
A simple way to understand the “free-float market cap” would be, the total cost of buying all the shares in the open market! So, having understood what the “free float market cap” is, now what? How do you find out the value of the Sensex at a particular point? Well, it’s pretty simple….
First: Find out the “free-float market cap” of all the 30 companies that make up the Sensex!Second: Add all the “free-float market cap’s” of all the 30 companies!Third: Make all this relative to the Sensex base. The value you get is the Sensex value! The “third” step probably confused you. To understand it, you will need to understand “ratios and proportions” from 5th standard mathematics. Think of it this way:Suppose, for a “free-float market cap” of Rs.100,000 Cr... the Sensex value is 4000…
Then, for a “free-float market cap” of Rs.150,000 Cr... the Sensex value will be..
So, the Sensex value will be 6000 if the “free-float market cap” comes to Rs.150,000 Cr!Please Note: Every time one of the 30 companies has a “stock split” or a "bonus" etc. appropriate changes are made in the “market cap” calculations.Now, there is only one question left to be answered, which 30 companies, why those 30 companies, why no other companies? The 30 companies that make up the Sensex are selected and reviewed from time to time by an “index committee”. This “index committee” is made up of academicians, mutual fund managers, finance journalists, independent governing board members and other participants in the financial markets.
The main criteria for selecting the 30 stocks is as follows:
Market capitalization: The company should have a market capitalization in the Top 100 market capitalization’s of the BSE. Also the market capitalization of each company should be more than 0.5% of the total market capitalization of the Index. Trading frequency: The company to be included should have been traded on each and every trading day for the last one year. Exceptions can be made for extreme reasons like share suspension etc. Number of trades: The scrip should be among the top 150 companies listed by average number of trades per day for the last one year. Industry representation: The companies should be leaders in their industry group. Listed history: The companies should have a listing history of at least one year on BSE. Track record: In the opinion of the index committee, the company should have an acceptable track record.
Having understood all this, you now know how the Sensex is calculated.
consumer awarenes and various rights
The consumer movement in India is as old as trade and commerce. Even in Kautilya’s Arthashastra, there are references to the concept of consumer protection against exploitation by the trade and industry with respect to quality, short weight and measurement, adulteration etc. Till recently, there was no organized and systematic movement for safeguarding the interests of consumers.
The ordinary citizen today depends on products, design and construction of which he or she may not understand. In this situation, reassurance is an over-riding need; reassurance that the product is reliable and will meet the expectations of the consumers in terms of performance, safety, durability etc.
Need For Consumer Awareness
It has been observed that the people for,whom various schemes have been taken up by Bureau of Indian Standards (BIS), in fact, do not get benefit as expected. This is mainly because they are not fully aware of these schemes and their benefits.
Also, only knowledgeable and alert consumers aware of their rights and responsiblities can protect themselves effectively. The need of the hour is, therefore, to educate the common consumers particularly those in rural areas who are more susceptible to exploitation. Once they are educated and made aware of the schemes that have been drawn up for their benefit and also the redressal forum that is available, the benefit of various schemes, in true sense, will reach the common consumers of the country.
It is, therefore, our bounden duty to play our part jointly and effectively in disseminating various schemes to the common consumers of the country. In this regard, the role of the voluntary consumer organizations, consumer activists, non-governmental organizations, educational institutions and media cannot be ignored.
BIS is operating the following important schemes for the benefit of consumers:
Formulation of National Standards
BIS is engaged in formulating Indian Standards laying down parameters for the products and services. These Standards are prepared by Technical Committees that are represented by experts from various fields including scientists, technologists, manufacturers and consumers. BIS seek and encourage participation of consumer organizations in formulation of national standards.
Certification Schemes
(a) Product Certification: BIS operates Product Certification Scheme that is governed by the Bureau of Indian Standards Act, 1986 and Rules and Regulations framed there under. Presence of Standard Mark on product indicates conformity to the relevant Indian Standard. Before granting licence to any manufacturers, BIS ascertains the availability of required infrastructure and capability of the manufacturer to produce and test the product conforming to the relevant Indian standard on a continuous basis. Samples are also drawn from the production line as well as from market and got tested in independent laboratories to ensure their conformance to the relevant Indian Standard.
(i) Mandatory Certification: The BIS Certification Mark Scheme is essentially voluntary in nature. However, keeping consumer’s interests in view, the Central Government has made BIS Certification Scheme compulsory for items meant for mass consumption, consumer safety, health and energy conservation. As on date 133 products have been covered under the Mandatory Certification Scheme. These orders have been issued under the various acts like Essential Commodities Act, PFA Act, etc.
(ii) Hallmarking of Gold Jewellery: Hallmarking of Gold Jewellery is a Purity Certification Scheme of BIS. Hallmarked Jewellery has to go through stringent norms of manufacture and quality control. Hallmarked Jewellery is assessed and marked by BIS recognized Assaying & Hallmarking Centres only. The Hallmark indicates that the Jewellery articles have been independently tested and assures that it conforms to the marked fineness. BIS logo is marked on BIS Hallmarked Jewellery along with fineness (that is 916 for 22 carat), A&HMC’s logo (Assaying & Hallmarking Centre’s Mark) — where the Jewellery has been assayed & hallmarked, Code letter that is year of hallmarking of Jewellery as decided by BIS, for example letter ‘B’ denotes year 2001 and logo of BIS certified jeweller/jewellery manufacturer.
(iii) Certification Schemes for Imported Goods: BIS also operates two Certification Schemes for imported goods; one for the foreign manufacturers and the other for Indian importers. The Schemes are essentially similar to BIS Product Certification Schemes for domestic industry barring slight modifications necessary for operation of such schemes. The schemes for foreign manufacturer at present are being centrally operated through Central Marks Department at Headquarters and schemes for Indian importers are operated by respective ROs/BOs under whose jurisdiction Indian importer falls. It may, however, be noted that in case of 133 products covered under mandatory certification, only foreign manufacturers can seek BIS license and for products other than 133 products both foreign manufacturer and Indian importers can seek BIS licence.
(iv) Eco Mark Scheme: BIS is operating Eco Mark Scheme for labeling of household and other consumer products which meet certain environmental criteria along with quality requirements prescribed in relevant Indian standards.
(b) System Certification:
In addition to Product Certification Scheme, BIS also operates following System Certification Schemes.
(i) Quality System Certification: BIS is operating Quality System Certification Scheme against IS/ ISO 9000 series of standards. This scheme is governed by the Bureau of Indian Standards Act, 1986 and has been accredited by Raad Voor Accreditatie (RVA), Netherlands. Under this scheme, the capability of supplier of goods or services is certified to IS/ISO 9000 series of Standards for ensuring the quality of goods and services satisfying the customer as relevant to the particular contracts entered into between the respective parties.
(ii) Environmental Management System Certification: BIS is operating EMS Certification Scheme against IS/ISO 14000 series of Standards.
(iii) Hazard Analysis and Critical Control Point (HACCP) Scheme: BIS has also launched Hazard Analysis and Critical Control Points (HACCP) Certification Scheme against IS 15000 to ensure consistent high quality of food safety, compliance with regulations, international acceptance, global competitiveness and total customer satisfaction for the food processing units.
Complaints and Grievances
BIS has a full-fledged Grievance Cell functioning at its Headquarters in New Delhi and Public Grievance Officer at all Regional & Branch Offices to provide consumers with prompt attention and speedy redressal of their grievances. In case of any complaint about the quality of its Marked products, the consumers should get in touch with the nearest office of the Bureau of Indian Standards. BIS has a system of attending the complaints and redressal by way of replacemenV repair of ISI Marked products in case the complaint is found to be genuine. Necessary actions are taken to ensure that corrective measures are taken by erring manufacturers so that other consumers are not put to inconvenience. Such complaints are also treated as feedback information on the performance of the manufacturers who are granted licence to use ISI Mark on their product(s).
STRENGTHENING THE CONSUMER MOVEMENT
The consumer movement in India is as old as trade and commerce itself. Even in Kautilya’s Arthshastra, there are references to the concept of protection of consumers against the exploitation by trade and industry, short weighment and measurements, adulteration along with the punishment for these offences. There was, however, no organized and systematic movement actually safeguarding the interests of the consumers. Prior to Independence, consumer interests were considered mainly under laws like the Indian Penal Code, Agricultural Production Grading and Marketing Act 1937, and Drugs and Cosmetics Act, 1940. Even though different parts of India had varying degrees of awareness, in general the level of awareness was low.
It is generally believed that the consumer movement in India as of today is quite strong when it is compared with other developing countries in Asia, Africa and Latin America. India is a vast country with a very large population of which a sizeable percentage lives below the poverty line. Because of economic inequality, low level of literacy and ignorance, particularly amongst women, the level of consumer awareness is not too high and , therefore, the consumers are not able to assert and protect themselves. They easily get exploited by trade and industry and service providers. With the liberalization process which started in 1991 the entire economic scenario is undergoing a complete change from a government-driven economy to a market-driven economy. Protecting the interests of consumers has, therefore, become one of the paramount concerns of the Government than ever before. Hence, policies are being designed and legislations enacted to protect the consumers’ interest and grant them the right
to choice, safety, information and redressal.
Consumer Protection Act, 1986
One of the most important milestones in the consumer movement in the country has been the enactment of the Consumer Protection Act, 1986 to better protect the interest of the consumers. This has revolutionized consumer rights. It is one of the most progressive and comprehensive pieces of socio-benevolent legislation covering all goods and services. The Act provides for a separate three-tier quasi-judicial consumer dispute redressal machinery, popularly known as consumer courts, at the national, state and district levels to provide simple, speedy and free redressal against consumers’ complaints. Filing of a simple complaint on plain paper with the details of the case with supporting documents seeking relief or compensation is enough and it is not obligatory to engage a lawyer. According to the objects and purposes of the Consumer Protection Act, these quasi-judicial bodies observe the principles of natural justice while adjudicating consumer complaints against defective goods, deficient services and restrictive and unfair trade practices through summary trials. The Act applies to all goods and services and covers all sectors, whether private, public or cooperative.
Amendments
The Act was amended in 1991 mainly to incorporate provisions for the quorum of District Forum, appointing persons to preside over State Commission/District Forum in case of absence of the President to enable the court function uninterruptedly. In 1993 the Act was again amended exhaustively to make it more effective and purposeful.
The Government has formulated comprehensive proposals for amending the Consumer Protection Act mainly based on the recommendations of the Working Group and Expert Group set up for the purpose and the wide-ranging consultations its had with the representatives of consumer interests, presidents of the national and state commissions and Central Government Ministries and Departments. These amendments are mainly aimed at facilitating quicker disposal of complaints, enhancing the capability of redressal agencies, strengthening them with more powers, streamlining the procedures and widening the scope of the Act to make it more effective to protect the consumers’ interest .
The Consumer Protection (Amendment) Bill, 2001 introduced in the Rajya Sabha on 26th April, 2001 among other things addresses the issues of quicker disposal of complaints, widening the scope of the Act, strengthening the Consumer Courts, streamlining the procedure and a proposal to strengthen the consumer movement. It is also proposed to establish a consumer protection council in every district in order to strengthen the consumer movement at the grassroot level.
Enactment of the Amendment Bill will not only further strengthen the consumer movement in the country but also help the large number of consumers in securing speedy and effective redressal of their complaints.
Government’s Role
A separate Department of Consumer Affairs was created in 1997 to act as the nodal outfit in the Central Government for promoting and protecting the welfare of consumers. It seeks to do this in various ways such as ensuring availability of essential commodities at reasonable prices including monitoring of prices, formulating standards of goods and services, regulation of weighing and measuring instruments and prepacked commodities and providing a legislative framework for safeguarding consumers’ interests and establishment of machinery for redressal of consumer complaints.
To meet these objectives the Department has been undertaking various measures involving all concerned to strengthen the consumer movement in the country. Some of the important measures being taken to strengthen the consumer movement include initiating multimedia publicity programmes to educate the consumers, providing financial assistance through consumer welfare fund to the NGOs and State Governments to generate consumer awareness, setting up of district information centres to guide the public, national awards on consumer protection to encourage outstanding work by women and youth, observing national and World Consumer Rights Day to remind the consumers to be vigilant, interactions with various interests through Central and State Consumer Protection Council to promote and protect the rights of the consumers, formulation of citizens’ charters containing their entitlements to public services, standards of performance and redressal of grievances for providing an efficient and responsive administration.
The success of the consumer movement mainly depends upon the level of consumer awareness around the country. The Government can only be playing the role of a facilitator or catalyst. The growth of consumer movement is a voluntary effort involving the participation of one and all. Only alert consumers can protect themselves and the society
RIGHTS OF CONSUMERS
Right to Safety
Right to be Informed
Right to Choose
Right to be heard
Right to seek redressal
Right to Consumer Education
1. Right to Safety
Means right to be protected against the marketing of goods and services, which are hazardous to life and property. The purchased goods and services availed of should not only meet their immediate needs, but also fulfil long term interests.
Before purchasing, consumers should insist on the quality of the products as well as on the guarantee of the products and services. They should preferably purchase quality marked products such as ISI, AGMARK, etc.
2. Right to be informed
Means right to be informed about the quality, quantity, potency, purity, standard and price of goods so as to protect the consumer against unfair trade practices.
Consumer should insist on getting all the information about the product or service before making a choice or a decision. This will enable him to act wisely and responsibly and also enable him to desist from falling prey to high pressure selling techniques.
3. Right to Choose
Means right to be assured, wherever possible of access to variety of goods and services at competitive price. In case of monopolies, it means right to be assured of satisfactory quality and service at a fair price.
It also includes right to basic goods and services. This is because unrestricted right of the minority to choose can mean a denial for the majority of its fair share. This right can be better exercised in a competitive market where a variety of goods are available at competitive prices.
4. Right to be heard
Means that consumer's interests will receive due consideration at appropriate forums. It also includes right to be represented in various forums formed to consider the consumer's welfare.
The Consumers should form non-political and non-commercial consumer organizations which can be given representation in various committees formed by the Government and other bodies in matters relating to consumers.
5. Right to seek redressal
Means right to seek redressal against unfair trade practices or unscrupulous exploitation of consumers. It also includes right to fair settlement of the genuine grievances of the consumer.
Consumers must make complaint for their genuine grievances. Many a times their complaint may be of small value but its impact on the society as a whole may be very large. They can also take the help of consumer organizations in seeking redressal of their grievances.
6. Right to Consumer Education
Means the right to acquire the knowledge and skill to be an informed consumer throughout life. Ignorance of consumers, particularly of rural consumers, is mainly responsible for their exploitation. They should know their rights and must exercise them. Only then real consumer protection can be achieved with success.
The ordinary citizen today depends on products, design and construction of which he or she may not understand. In this situation, reassurance is an over-riding need; reassurance that the product is reliable and will meet the expectations of the consumers in terms of performance, safety, durability etc.
Need For Consumer Awareness
It has been observed that the people for,whom various schemes have been taken up by Bureau of Indian Standards (BIS), in fact, do not get benefit as expected. This is mainly because they are not fully aware of these schemes and their benefits.
Also, only knowledgeable and alert consumers aware of their rights and responsiblities can protect themselves effectively. The need of the hour is, therefore, to educate the common consumers particularly those in rural areas who are more susceptible to exploitation. Once they are educated and made aware of the schemes that have been drawn up for their benefit and also the redressal forum that is available, the benefit of various schemes, in true sense, will reach the common consumers of the country.
It is, therefore, our bounden duty to play our part jointly and effectively in disseminating various schemes to the common consumers of the country. In this regard, the role of the voluntary consumer organizations, consumer activists, non-governmental organizations, educational institutions and media cannot be ignored.
BIS is operating the following important schemes for the benefit of consumers:
Formulation of National Standards
BIS is engaged in formulating Indian Standards laying down parameters for the products and services. These Standards are prepared by Technical Committees that are represented by experts from various fields including scientists, technologists, manufacturers and consumers. BIS seek and encourage participation of consumer organizations in formulation of national standards.
Certification Schemes
(a) Product Certification: BIS operates Product Certification Scheme that is governed by the Bureau of Indian Standards Act, 1986 and Rules and Regulations framed there under. Presence of Standard Mark on product indicates conformity to the relevant Indian Standard. Before granting licence to any manufacturers, BIS ascertains the availability of required infrastructure and capability of the manufacturer to produce and test the product conforming to the relevant Indian standard on a continuous basis. Samples are also drawn from the production line as well as from market and got tested in independent laboratories to ensure their conformance to the relevant Indian Standard.
(i) Mandatory Certification: The BIS Certification Mark Scheme is essentially voluntary in nature. However, keeping consumer’s interests in view, the Central Government has made BIS Certification Scheme compulsory for items meant for mass consumption, consumer safety, health and energy conservation. As on date 133 products have been covered under the Mandatory Certification Scheme. These orders have been issued under the various acts like Essential Commodities Act, PFA Act, etc.
(ii) Hallmarking of Gold Jewellery: Hallmarking of Gold Jewellery is a Purity Certification Scheme of BIS. Hallmarked Jewellery has to go through stringent norms of manufacture and quality control. Hallmarked Jewellery is assessed and marked by BIS recognized Assaying & Hallmarking Centres only. The Hallmark indicates that the Jewellery articles have been independently tested and assures that it conforms to the marked fineness. BIS logo is marked on BIS Hallmarked Jewellery along with fineness (that is 916 for 22 carat), A&HMC’s logo (Assaying & Hallmarking Centre’s Mark) — where the Jewellery has been assayed & hallmarked, Code letter that is year of hallmarking of Jewellery as decided by BIS, for example letter ‘B’ denotes year 2001 and logo of BIS certified jeweller/jewellery manufacturer.
(iii) Certification Schemes for Imported Goods: BIS also operates two Certification Schemes for imported goods; one for the foreign manufacturers and the other for Indian importers. The Schemes are essentially similar to BIS Product Certification Schemes for domestic industry barring slight modifications necessary for operation of such schemes. The schemes for foreign manufacturer at present are being centrally operated through Central Marks Department at Headquarters and schemes for Indian importers are operated by respective ROs/BOs under whose jurisdiction Indian importer falls. It may, however, be noted that in case of 133 products covered under mandatory certification, only foreign manufacturers can seek BIS license and for products other than 133 products both foreign manufacturer and Indian importers can seek BIS licence.
(iv) Eco Mark Scheme: BIS is operating Eco Mark Scheme for labeling of household and other consumer products which meet certain environmental criteria along with quality requirements prescribed in relevant Indian standards.
(b) System Certification:
In addition to Product Certification Scheme, BIS also operates following System Certification Schemes.
(i) Quality System Certification: BIS is operating Quality System Certification Scheme against IS/ ISO 9000 series of standards. This scheme is governed by the Bureau of Indian Standards Act, 1986 and has been accredited by Raad Voor Accreditatie (RVA), Netherlands. Under this scheme, the capability of supplier of goods or services is certified to IS/ISO 9000 series of Standards for ensuring the quality of goods and services satisfying the customer as relevant to the particular contracts entered into between the respective parties.
(ii) Environmental Management System Certification: BIS is operating EMS Certification Scheme against IS/ISO 14000 series of Standards.
(iii) Hazard Analysis and Critical Control Point (HACCP) Scheme: BIS has also launched Hazard Analysis and Critical Control Points (HACCP) Certification Scheme against IS 15000 to ensure consistent high quality of food safety, compliance with regulations, international acceptance, global competitiveness and total customer satisfaction for the food processing units.
Complaints and Grievances
BIS has a full-fledged Grievance Cell functioning at its Headquarters in New Delhi and Public Grievance Officer at all Regional & Branch Offices to provide consumers with prompt attention and speedy redressal of their grievances. In case of any complaint about the quality of its Marked products, the consumers should get in touch with the nearest office of the Bureau of Indian Standards. BIS has a system of attending the complaints and redressal by way of replacemenV repair of ISI Marked products in case the complaint is found to be genuine. Necessary actions are taken to ensure that corrective measures are taken by erring manufacturers so that other consumers are not put to inconvenience. Such complaints are also treated as feedback information on the performance of the manufacturers who are granted licence to use ISI Mark on their product(s).
STRENGTHENING THE CONSUMER MOVEMENT
The consumer movement in India is as old as trade and commerce itself. Even in Kautilya’s Arthshastra, there are references to the concept of protection of consumers against the exploitation by trade and industry, short weighment and measurements, adulteration along with the punishment for these offences. There was, however, no organized and systematic movement actually safeguarding the interests of the consumers. Prior to Independence, consumer interests were considered mainly under laws like the Indian Penal Code, Agricultural Production Grading and Marketing Act 1937, and Drugs and Cosmetics Act, 1940. Even though different parts of India had varying degrees of awareness, in general the level of awareness was low.
It is generally believed that the consumer movement in India as of today is quite strong when it is compared with other developing countries in Asia, Africa and Latin America. India is a vast country with a very large population of which a sizeable percentage lives below the poverty line. Because of economic inequality, low level of literacy and ignorance, particularly amongst women, the level of consumer awareness is not too high and , therefore, the consumers are not able to assert and protect themselves. They easily get exploited by trade and industry and service providers. With the liberalization process which started in 1991 the entire economic scenario is undergoing a complete change from a government-driven economy to a market-driven economy. Protecting the interests of consumers has, therefore, become one of the paramount concerns of the Government than ever before. Hence, policies are being designed and legislations enacted to protect the consumers’ interest and grant them the right
to choice, safety, information and redressal.
Consumer Protection Act, 1986
One of the most important milestones in the consumer movement in the country has been the enactment of the Consumer Protection Act, 1986 to better protect the interest of the consumers. This has revolutionized consumer rights. It is one of the most progressive and comprehensive pieces of socio-benevolent legislation covering all goods and services. The Act provides for a separate three-tier quasi-judicial consumer dispute redressal machinery, popularly known as consumer courts, at the national, state and district levels to provide simple, speedy and free redressal against consumers’ complaints. Filing of a simple complaint on plain paper with the details of the case with supporting documents seeking relief or compensation is enough and it is not obligatory to engage a lawyer. According to the objects and purposes of the Consumer Protection Act, these quasi-judicial bodies observe the principles of natural justice while adjudicating consumer complaints against defective goods, deficient services and restrictive and unfair trade practices through summary trials. The Act applies to all goods and services and covers all sectors, whether private, public or cooperative.
Amendments
The Act was amended in 1991 mainly to incorporate provisions for the quorum of District Forum, appointing persons to preside over State Commission/District Forum in case of absence of the President to enable the court function uninterruptedly. In 1993 the Act was again amended exhaustively to make it more effective and purposeful.
The Government has formulated comprehensive proposals for amending the Consumer Protection Act mainly based on the recommendations of the Working Group and Expert Group set up for the purpose and the wide-ranging consultations its had with the representatives of consumer interests, presidents of the national and state commissions and Central Government Ministries and Departments. These amendments are mainly aimed at facilitating quicker disposal of complaints, enhancing the capability of redressal agencies, strengthening them with more powers, streamlining the procedures and widening the scope of the Act to make it more effective to protect the consumers’ interest .
The Consumer Protection (Amendment) Bill, 2001 introduced in the Rajya Sabha on 26th April, 2001 among other things addresses the issues of quicker disposal of complaints, widening the scope of the Act, strengthening the Consumer Courts, streamlining the procedure and a proposal to strengthen the consumer movement. It is also proposed to establish a consumer protection council in every district in order to strengthen the consumer movement at the grassroot level.
Enactment of the Amendment Bill will not only further strengthen the consumer movement in the country but also help the large number of consumers in securing speedy and effective redressal of their complaints.
Government’s Role
A separate Department of Consumer Affairs was created in 1997 to act as the nodal outfit in the Central Government for promoting and protecting the welfare of consumers. It seeks to do this in various ways such as ensuring availability of essential commodities at reasonable prices including monitoring of prices, formulating standards of goods and services, regulation of weighing and measuring instruments and prepacked commodities and providing a legislative framework for safeguarding consumers’ interests and establishment of machinery for redressal of consumer complaints.
To meet these objectives the Department has been undertaking various measures involving all concerned to strengthen the consumer movement in the country. Some of the important measures being taken to strengthen the consumer movement include initiating multimedia publicity programmes to educate the consumers, providing financial assistance through consumer welfare fund to the NGOs and State Governments to generate consumer awareness, setting up of district information centres to guide the public, national awards on consumer protection to encourage outstanding work by women and youth, observing national and World Consumer Rights Day to remind the consumers to be vigilant, interactions with various interests through Central and State Consumer Protection Council to promote and protect the rights of the consumers, formulation of citizens’ charters containing their entitlements to public services, standards of performance and redressal of grievances for providing an efficient and responsive administration.
The success of the consumer movement mainly depends upon the level of consumer awareness around the country. The Government can only be playing the role of a facilitator or catalyst. The growth of consumer movement is a voluntary effort involving the participation of one and all. Only alert consumers can protect themselves and the society
RIGHTS OF CONSUMERS
Right to Safety
Right to be Informed
Right to Choose
Right to be heard
Right to seek redressal
Right to Consumer Education
1. Right to Safety
Means right to be protected against the marketing of goods and services, which are hazardous to life and property. The purchased goods and services availed of should not only meet their immediate needs, but also fulfil long term interests.
Before purchasing, consumers should insist on the quality of the products as well as on the guarantee of the products and services. They should preferably purchase quality marked products such as ISI, AGMARK, etc.
2. Right to be informed
Means right to be informed about the quality, quantity, potency, purity, standard and price of goods so as to protect the consumer against unfair trade practices.
Consumer should insist on getting all the information about the product or service before making a choice or a decision. This will enable him to act wisely and responsibly and also enable him to desist from falling prey to high pressure selling techniques.
3. Right to Choose
Means right to be assured, wherever possible of access to variety of goods and services at competitive price. In case of monopolies, it means right to be assured of satisfactory quality and service at a fair price.
It also includes right to basic goods and services. This is because unrestricted right of the minority to choose can mean a denial for the majority of its fair share. This right can be better exercised in a competitive market where a variety of goods are available at competitive prices.
4. Right to be heard
Means that consumer's interests will receive due consideration at appropriate forums. It also includes right to be represented in various forums formed to consider the consumer's welfare.
The Consumers should form non-political and non-commercial consumer organizations which can be given representation in various committees formed by the Government and other bodies in matters relating to consumers.
5. Right to seek redressal
Means right to seek redressal against unfair trade practices or unscrupulous exploitation of consumers. It also includes right to fair settlement of the genuine grievances of the consumer.
Consumers must make complaint for their genuine grievances. Many a times their complaint may be of small value but its impact on the society as a whole may be very large. They can also take the help of consumer organizations in seeking redressal of their grievances.
6. Right to Consumer Education
Means the right to acquire the knowledge and skill to be an informed consumer throughout life. Ignorance of consumers, particularly of rural consumers, is mainly responsible for their exploitation. They should know their rights and must exercise them. Only then real consumer protection can be achieved with success.
Subscribe to:
Comments (Atom)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/tny_au_en_ingr_2.gif)
Posts
