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Journal of Banking and Insurance Law

ISSN: 2582- 6875

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About the Journal

The Journal of Banking and Insurance Law [2582-6875(e)] is a peer-reviewed hybrid open-access journal established in 2018 under the guidance of eminent scholars, legal experts, academicians, attorneys, and professionals. The journal encompasses a broad scope covering topics related to banking, securities, financial services, administrative and general banking, and insurance-related laws. It is a platform for scholars, legal practitioners, and industry experts to contribute to the discourse on issues arising in the dynamic domains of banking and insurance.

Papers Published

• Banking Laws and Regulations: In-depth analysis of banking laws, including provisions related to the Law of Limitation, Bankers Book Evidence Act, and Nigerian Evidence Law, Comparative studies with international legal frameworks, emphasizing electronic and digital evidence in banking proceedings.
• Debt Recovery and Financial Institutions: Exploration of special features of recovery of debts due to banks, encompassing Debt Recovery Tribunal proceedings, non-performing assets, and insolvency-related laws, Examination of legal and financial aspects of debt recovery, loan restructuring, and the role of financial institutions in the recovery process.
• Taxation in Banking: In-depth coverage of Tax Deduction at Source (TDS) in the banking sector, focusing on estimating tax liability, statutory management, and income tax implications, Exploration of Banking Cash Transaction Tax, its impact on systemic risk, and the role of taxation in influencing banking transactions.
• Financial Transactions and Services: Analysis of service tax implications on financial transactions, including goods and service tax in the Indian economy, Exploration of agent-based modeling, network optimization, and sustainability in the context of financial transactions.
• Asset Reconstruction and Securitization: Comprehensive coverage of Asset Reconstruction Companies (ARCs), securitization, and the enforcement of security interest under the relevant acts, Examination of legal frameworks related to non-performing assets, security receipts, and strategies for reconstruction of financial assets.
• Consumer Protection and Banking Ombudsman: Analysis of consumer protection laws, including the Consumer Protection Act, 1986, with a focus on economic policy, grievances, and healthcare-related aspects, Exploration of the role of Banking Ombudsman in addressing customer complaints, regulatory frameworks, and redressal measures.
• Alternative Dispute Resolution and Legal Services: In-depth coverage of Lok Adalats and other alternative dispute resolution mechanisms in the context of banking and insurance laws, Examination of lender’s liability and legal services aimed at providing effective dispute resolution in the banking sector.

The Journal of Banking and Insurance Law invites contributions from scholars, legal practitioners, and industry experts to enrich the scholarly dialogue on critical legal issues impacting the banking and insurance sectors.

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INTRODUCTION

Post economic liberalisation, the financial sector has registered exponential growth, trade barriers have become redundant and the flow of capital has become freer and far reaching. As such, Banking and Insurance sectors have driven the economy’s growth and development.

The Centre for Banking and Insurance Law (CBIL) at National Law University Odisha is dedicated to facilitating higher learning, research, and allied activities in the twin areas of Banking and Insurance Laws.  It strives to foster intelligent analysis; focusing on enabling a deep and pervasive understanding of policies, regulatory mechanisms, and other aspects of these legal domains at state, national and international levels.

1. To conduct research in the areas of Banking and Insurance Laws in order to develop new insights of scholarly value and relevance.

2. To facilitate discussion on Banking and Insurance Laws by providing a platform for exchange of ideas.

3. To organise capacity development programmes by engaging stakeholders.

4. To offer advisory services in Banking and Insurance Laws.

5. To engage with regulators and statutory bodies for conducting research and allied activities.

• Prof (Dr.) Dolly Jabbal- Director
•  Dr. Rajat Solanki- Co-Director
• Ms. Ankeeta Gupta- Co-Director

Student Members:

• Ayush Shandilya- Convenor
• Jahani Mahalik- Co- Convenor
• Ishita Ayala- Treasurer
• Akhil Raj – Editor in Chief
• Pooja Reddy
• Pratha Barla
• Subhasmin Moharana
• Dewansh Raj
• Kushagra Keshav
• Suhani Sharma
• Vvanshika Singhal
• Kamya Agarwal
• Soumya Dubey
• Aashra Patel
• Mallika Jain
• Compendium on Developments in Banking and Insurance Law | THE FINANCE WATCH

News-Letters:

• CBIL Newsletter – June 2024
• CBIL Newsletter – April 2024
• CBIL Newsletter – February 2024
• CBIL Newsletter – January 2024
• CBIL Newsletter – December 2023
• October 2023 – Newsletter of CBIL
• July 2023 – Newsletter of CBIL
• Banking & Insurance Law Newsletter (December 2022 – January 2023)
• Banking and Insurance Law Newsletter (October-November 2022)
• Newsletter (August – September 2022)
• Ticker Tape Thursday 05.01.2023
• Ticker Tape Thursday 12.01.2023
• Ticker Tape Thursday 26.01.2023

Email – [email protected] |Phone number- 7977220639

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Banking and Insurance Law

• Komal Dayma

Rules define the game that most people decide. Good laws can promote good behaviors such as cooperation, creativity, and hard work. Worst rules can damage the desired activity or worse, pushing for activities that make the society worse. Banks can be defined as economic activities of taking and protecting the money held by individuals and other entities, and then providing that money for profit. Insurance covers both life insurance products and other insurance products Apart from life insurance; it involves working with individuals and legal entities on risk management to protect against catastrophic losses and potentially potential risk predictions. Bank rules are a broad concept of rules that govern how other banks and financial institutions operate. The bank must abide by many federal and state regulations. Lawyers carry out a number of functions related to the development of practice and the implementation of standards. Bank rules cover multiple state and federal regulations that govern financial institutions. The Bank Law also deals with various transactions occurring when financial institutions play a role to serve clients and develop their businesses. Insurance laws are a set of laws and regulations that apply to insurance. Insurance is a contract between the two parties. It transfers the risk of loss to other parties for a contract against a so-called premium fee. Insurance laws and regulations governing and managing the creation and performance of insurance contracts. Insurance laws govern purchasing, offering, selling and insurance claims in the United States.

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ISSN: 2582-6875

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Consumer Protection in Banking and Insurance: A Comparative Study of the Laws between India and the West.

The banking and insurance industries are undoubtedly one of the oldest in India. Modern banking in India started in the 18th century with the establishment of the Bank of Hindustan in 1770. India’s oldest running bank, the State Bank of India was established in 1806 as the Bank of Calcutta and to this date it continues to run successfully. Globally, the first modern bank to bank to be established is the Monte Dei Paschi di Siena in 1472 and it too continues to run to this day. The insurance business, on the other hand, was formally established in India with the establishment of the Oriental Insurance Company in 1818. On a global scale, the first insurance company was established my Nicholas Barbon in 1681. The world has come a long way since the establishment of these industries. Nowadays, banking and insurance systems are governed by modern principles and technologies. There is no question that these two industries have large customer bases and earn millions of dollars in revenue every year. However, with the growth of the banks and insurance companies, consumer protection has taken a back seat. India and the world as a whole are seeing increasing number of cases in which consumer protection is being sidelined in order to focus on growth. Almost every day, hundreds and thousands of consumers are being denied their rights by banks and insurance companies. In a country as diverse as India, the situation is worse since most of the population reside in rural areas and aren’t aware of their consumer rights. The laws are weak and full of loopholes and banks and insurance companies take advantage of this. With this in mind, this paper aims to fulfill the following objectives. The paper aims to analyze the existing consumer protection laws for the banking and insurance sector in India. It further aims to draw out a comparative study of the Indian laws with respect to the laws of the United States of America and the United Kingdom. Finally, this paper aims to list out some suggestive guidelines and additions to the existing Indian laws in order to further strengthen the rights of the consumer and help him successfully exercise his consumer rights.

Related Papers

Journal of Consumer Policy

gurjeet singh

In India, as a result of the enactment and implementation of the Consumer Protection Act, 1986 there has been an increased amount of self-regulation by the public as well as by the private corporate sector. The mounting pressure by consumer organisations and the growing number of cases filed by consumers before the three-tier quasi-judicial Consumer Disputes Redressal Agencies established under the 1986 Act have propelled the corporate sector in India to become more socially accountable then ever before. Though it may be too early to comment on the success or failure of this Act, it has nevertheless initiated a process of change at least in the behaviour of the urban business community and has coerced it to regulate itself. The paper purports to highlight and evaluate the present state of business self-regulation in India. The author has critically examined the “Codes of Ethics” recently announced by some sections of the business community in India. He has also endeavoured to cite a few recent cases argued before the Consumer Forums, more particularly by the consumers' associations, where instead of resorting to protracted legal battles, industry has reconciled itself to consumers' demands. Thus the central theme of the paper is to show how the 1986 Act has propelled the corporate sector to resort to self-regulation and to critically examine this new development. The author concludingly argues that in order to achieve the much-cherished goal of social change in India, much still remains to be accomplished and that there is a need for a co-ordinated approach to solve the problem of consumer protection as law alone may not be effective. Anbieter-Selbstregulierung und Verbraucherschutz in Indien: Eine Kritik. In Indien hat es als Folge der Einführung des Verbraucherschutzgesetzes 1986 ein starkes Anwachsen der Selbstregulierung gegeben, und zwar sowohl bei den öffentlichen Anbietern wie auch bei den privaten Anbietern. Es gab einen wachsenden Druck auf die anbietende Wirtschaft durch die Verbraucherorganisationen und durch die Tatsache, da\ die Konsumenten eine wachsende Zahl von Verfahren bei den dreistufigen quasigerichtlichen Verbraucherschiedsstellen eröffnet haben, die aufgrund des Gesetzes von 1986 eingerichtet worden sind. Jedenfalls hat dieser Druck ein deutliches Anwachsen der sozialen Verantwortlichkeit bei der indischen Wirtschaft bewirkt. Obwohl ein abschlie\endes Urteil über den Erfolg oder Mi\erfolg dieses Gesetzes noch nicht möglich ist, lä\t sich aber jetzt schon feststellen, da\ es einen Wandel zumindest im Verhalten der städtischen Anbieter bewirkt hat und zu mehr Selbstegulierung geführt hat. Der Autor setzt sich kritisch mit den ethischen Verhaltensrichtlinien auseinander, die einzelne Branchen angekündight haben. Er führt au\erdem einige neuere Fälle an, die vor den Verbraucherforen verhandelt wurden, wo die beklagten Unternehmen den Verbraucheransprüchen entgegenkamen statt in langwierige gerichtliche Verfahren zu flüchten. Für das wichtige Ziel eines sozialen Wandels in Indien bleibt nach Meinung des Autors allerdings noch mehr zu tun; auf jeden Fall ist das Problem des Konsumentenschutzes allein auf gesetzgeberischem Wege nicht zu lösen.

Bonfring International Journal

The growing global insurance industry has brought new channels of distribution into existence, leading to a new concept called Bancassurance. Nowadays banks have started increasing their business to securities and insurance and other sectors by adding new range of products. Bancassurance, one such concept, has gained recognition in the recent years. The growth of bancassurance depends on how well banks and insurance companies are able to conquer the operational challenges that are frequently thrown at them. Banks aims at a comprehensive Bancassurance Management with Core Banking platform ie; ease of premium payments using Auto Debit Cards, Net Banking, collection agencies etc. The present empirical based study was conducted with an objective to examine the recent trends of bancussurance and to analyse the marketing and distribution channel of insurance, its impact on insurers, customers and banking sector and also to examine the issues and problems of bancussurance. The study was based on both primary and secondary data. The area of study is confined only to selected banks of Trissur district .The collected data is analyzed and interpreted by applying various statistical tools and techniques. It is presented in the form of tables, pie diagram and bar diagrams .The research findings will be useful for all the three segments including banks, insurers and customers. The paper concludes that there is a bright future for bancassurance in the Indian insurance market

Shefali Malhotra , Ajay Shah

In recent years there has been an increased role for health insurance in Indian health care, through government funded health insurance programs and privately purchased health insurance. Our analysis of the claims ratio and the complaints rate in the health insurance industry, suggests that there are important difficulties with the working of health insurance. The lack of fair play in this industry is derived from deficiencies in regulations, weak enforcement of regulations and faulty institutional design of consumer redress. The solutions lie in laws and regulatory processes for consumer protection. Examination of health policy and financial policy, together would formulate a strategy for change.

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Law of Banking, Insurance and Consumer Protection in India

Overview of the Course:

The crucial component of the Indian financial system is Banks. An effective banking system supports the growth of the economy of the country. The banks are used by many types of society stakeholders for a variety of purposes. Banks act as a conduit for money between depositors and borrowers. In today's altered global business climate, banks provide a wide range of value-added services to their customers in addition to collecting deposits and making loans. As the nation's Central Bank, the Reserve Bank of India fulfils a variety of functions, including regulating, supervising, and facilitating the Indian Banking System. This course covers the evolution of banking laws in India and its regulatory framework, updated with latest legal and judicial developments. The Banking Regulation Act, 1949; The Banking Regulation (Amendment) Act, 2020; RBI Act, 1935 and related laws are explained.

The Law of Insurance has historical roots that go through many generations and distant sources. This course has briefly traced its history and progress. The course covers the overarching ideas that form the basis of insurance law and aids in legal comprehension. Numerous insurance-related judgements from English and Indian courts are mentioned and appropriately explored in the right areas. It aims to encapsulate, broadly speaking, the idea, range, beginning, and evolution of insurance in the legislative frameworks with special emphasis on India. The Insurance Act, 1938; The Insurance Laws (Amendment) Act, 2015; The Insurance Regulatory and Development Act, 1999 and other laws governing insurance in India are discussed.

Consumers are now more exposed to new types of unfair trade and immoral corporate activities due to the creation of global supply chains, growth in international trade, and rapid expansion of e-commerce. The Consumer Protection Act, 2019 was passed in place of the previous 1986 Act to defend consumers' interests in this new situation. At the proper times, the pertinent rulings of the Supreme Court, High Courts, and National Consumer Disputes Redressal Commission have been discussed.

This course helps the learners in understanding the fundamental legal framework governing Banking and Insurance Sectors in India. The learners would understand the scheme of consumer protection provided under the Indian Law and become aware of their rights as consumers.

Objectives of the Course:

• To understand the significance of banking business and need for its specific regulation.
• To study the various banking legislations in India.
• To study about Reserve Bank of India, its functions, powers and its control over Banking in India.
• To examine the relationship between Banker and Customer.
• To understand about Bank Guarantee, Letters of Credit and their operation.
• To understand the concepts of Banker’s lien and set-off; banking frauds and their remedies.
• To study the concept of insurance and its position in law.
• To examine the Insurance Act 1938; Insurance Regulatory and Development Authority Act 1999; Motor Vehicles Act 1988; Marine Insurance Act 1963.
• To understand the recent aments to the Insurance Act.
• To study about Micro Insurance, Rural and Social Insurance.
• To understand History and Evolution of Consumer Protection.
• To study the overview of Consumer Protection Act, 1986.
• To examine the working of Consumer Protection Act, 2019.
• To understand the concepts of defect in goods; deficiency in services; product liability and negligence.
• To study the nuanced aspects of consumer protection in E-Commerce transactions.
• To examine the grievance redressal mechanism under Consumer Law along with the role of Mediation.
• To study the legal aspects of consumer protection in Banking and Insurance Services.

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Page Visits

Course layout.

• Introduction to Law of Banking
• Banking Legislations
• Kinds of Banks and their functions
• Relationship between banker and customer-1  
• Assignments
• Relationship between banker and customer-2
• Bank Guarantees
• Letters of Credit
• Protection of Bankers as paying Banker
• Banker’s Lien and set off
• Lending and recovery by banks
• Banking Frauds and Remedies
• Reserve Bank of India, functions, power and control over Banking in India
• Introduction to Insurance: Concepts and Law
• Insurance Law and Regulations
• Insurance Act 1938: Insurer, Insured, Premium and Policies
• Insurance Act 1938: Insurance Marketing and Intermediaries
• Insurance Act 1938: Funds Management and Solvency Margins
• Insurance Act 1938: Claims Settlement
• Insurance Act 1938: Control, Amalgamation and Winding of Insurance Business
• Insurance Regulatory and Development Authority Act 1999
• Insurance Disputes: Grievances Settlement Mechanism
• Life Insurance – Law and Regulation
• General Insurance Business: Fire Insurance and Public Liability Insurance
• Motor Vehicle Insurance:   Motor Vehicles Act 1988
• Marine Insurance Act 1963
• Micro Insurance – Rural and Social Insurance
• Consumer Protection – History and Evolution
• Consumer Protection in UK, USA and Other Countries – A Comparison
• Consumer Protection in India – Position under General Laws
• Consumer Protection Act, 1986 – An Overview of its Working
• Consumer Protection Act, 2019 – Salient Features
• Defect in Goods and Deficiency in Services – Position under Consumer Protection Act, 2019
• Concept of Product Liability and Negligence
• Consumer Protection in E-Commerce
• Grievance Redressal Mechanism under Consumer Law
• Role of Mediation in Consumer Disputes
• Consumer Protection in Banking and Insurance Services
• Recent Developments in Banking Law
• Insurance Laws in India – Recent Development
• Consumer Protection – Emerging Trends

Books and references

• Avtar Singh, Banking and Negotiable Instruments, Eastern Book Company (4 th edn, 2018)
• John Odger’s KC, Paget’s Law of Banking , Lexis Nexis (15 th edn, 2018)
• ML Tannan, Banking Law & Practice in India (29 th edn, 2021)
• P. Vasantha Kumar, Banking And Negotiable Instruments - Law and Practice , Eastern Book Company (2020)
• R. B. Chaudhary, Banking Laws, Central Law Publications (5 th edn, 2022)
• K. S. N. Murthy and K. V. S. Sarma, Modern Law of Insurance in India (6 th edn, 2019
• M. N. Srinivasan and K. Kannan, Principles of Insurance Law , (11 th edn, 2021)
• Taxmann’s Insurance Laws Manual (22 nd edn, 2021)
• Avtar Singh, Law of Insurance , Eastern Book Company (2022)
• A. V. Narsimha Rao, Insurance Law, Regulations and Governance (1 st edn, 2022)
• G. B. Reddy and Baglekar Akash Kumar, Consumer Protection Act: A Commentary , Eastern Book Company (1 st edn, 2021)
• Taxmann’s Consumer Protection Law and Practice (2022)
• J. N. Barowalia and Abhishek Barowalia, The Consumer Protection Act, Lexis Nexis (7 th edn, 2021)
• R. K. Bangia, Consumer Protection Laws (9 th edn, 2022)

Instructor bio

Prof. (Dr.) G. B. Reddy

Dr. G. B. Reddy is a lawyer turned academician. Studied B.A. (HPP), LL.B., and LL.M. (Constitutional Law) at Osmania University, and P.G .Diploma in Human Rights from University of Hyderabad. Obtained Ph.D.in Law from Osmania University in 1999 on the topic “Supreme Court and Judicial Activism – Its Contribution in Specific Areas of Constitutional Law after 1980” . His area of specialisation is Constitutional Law in LL.M. and Judicial Activism in Ph.D. He specialised in the area of Intellectual Property as an independent researcher, publisher and teacher.

He has secured three Gold Medals in LL.B. and one Gold Medal in LL.M. apart from being the first candidate to have qualified for UGC-JRF in Law from Osmania University in 1993.He practiced in the High Court of Andhra Pradesh for about seven years before joining the Faculty of Law, Osmania University. He authored 20 well received books on law including Women and Law, Intellectual Property Rights and Law, Copyright Law in India, Practical Advocacy of Law, Right to Information and Law and Judicial Activism in India . Two of his books namely Women and Law and Judicial Activism in India , have been reviewed favourably in the Book Review section of the Hindu by Justice V.R. Krishna Iyer. He also published more than 65 articles on law in standard national and international journals. He participated in National and International Seminars, Workshops and Conferences on Law and allied subjects and visited Japan, Malaysia, Singapore, South Korea and Thailand.

He has already offered 6 Swayam Courses on Human Rights, International Law and International Humanitarian Law; Intellectual Property Rights and Competition Law; Indian Judicial System: Legal Aid and Environmental Protection; Private International Law and Alternative Dispute Resolution; Legal Theory and Law Relating to Women; Law Relating to Companies, Securities, Insolvency and Bankruptcy in India, and more than 16000 students have taken the courses.

He holds the position of Director, PGRR Center for Distance Education, and was former Director of University Foreign Relations Office, Osmania University and was the founder Director of Legal Cell of the University. He was the former Dean, Faculty of Law; Head, Department of Law and Principal, University College of Law, at Osmania University. He was a member of General Council of NALSAR University of Law, Hyderabad (2011-2014), A.P. State Consumer Protection Council (2010-2013) and Hyderabad District Legal Services Authority by Government of A.P.   He is a Life Member of Indian Law Institute & Institute of Constitutional and Parliamentary Studies, New Delhi and American Studies Research Centre, (presently OUCIP). He is a member of Telangana State Legal Services Authority, Chairman, Ethics Committee of CDFD, Hyderabad, Member of Academic Council of NALSAR University. He is also the Dean, Faculty of Law of Mahatma Gandhi University, Nalgonda and Satavahana University, Karimnagar. He was also awarded the State Best Teacher Award by the Telangana State Government in 2021.

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E-Banking Overview of Laws in India and Challenges

24 Pages Posted: 8 May 2023

Chirag Baheti

Upes dehradun.

Date Written: April 25, 2023

A nation's economic growth is significantly influenced by its financial sector. An economy's lifeline is banking. For economic growth to occur, a sound banking system is a crucial requirement. The Indian banking sector is currently experiencing an IT revolution. The banks have become more up-to-date as a result of their adoption of the internet. It has benefited banks as well as customers. E-banking in India has undergone a number of shifts as a result of advancements in technology. The various novelties that have occurred in the banking industry include the card's appearance, the concept of online and mobile banking, the presentation of the Electronic Clearing Service, and the presentation of the Electronic Assets Transfer. E-Banking is a conventional term including web banking, phone banking, versatile banking and so forth. The fundamental idea of IT-based Enabled Services needs to be introduced by the bank through E-Banking. At the same time, it was completely out of the ordinary for the conventional banking system. The people prefer to use credit and debit cards. The rising rate of internet use among Indians is one factor contributing to the rapid growth of e-banking. Because of some of its benefits, electronic banking is increasingly preferred by consumers. However, it has also advanced issues and challenges related to cybercrime, such as credit card fraud, information theft, and phishing. So in this paper, an endeavor has been made to give an outline of e banking in India and various issues and difficulties thoroughly searching in the financial business. Research question: 1. Whether E-Banking laws in India like IT Act 2000 & RBI Act, 1934 effectively address all the legal and security concerns in banking sector? 2. How Cyber Crime Impact on Banking Sector and how banks deal with the security with the effective cyber laws in India?

Keywords: E banking, information technology, traditional banking, cyber crime, credit card fraud.

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Chirag Baheti (Contact Author)

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Money blog: HSBC, Nationwide and Virgin Money hit by glitches; how to stop your car being stolen - or even 'cannibalised'

Welcome to the Money blog, your place for personal finance and consumer news and advice. Let us know your thoughts on any of the topics we're covering using the comments box below.

Friday 28 June 2024 21:32, UK

• Trio of banks hit by pay day delays
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• UK's economic growth better than thought
• 10 million homes have days to check energy meter reading to avoid paying too much

Essential reads

• Save 105 teaspoons of sugar (and money) by switching to classic ice cream
• How to stop your car from being stolen - or even 'cannibalised'
• A week when probable future of mortgage rates became clearer
• Savings Guide: What to look for with 5% rates still available on easy access accounts
• Women in Business : How accident in cafe and £400 turned into a genius business idea that's about to go global
• Money Problem : 'I bought a new car but it's been back six times with same fault - what can I do?'
• Best of the Money blog - an archive

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By Emily Mee, news reporter

A car was stolen roughly every eight minutes in the UK last year, according to DVLA figures. 

Some 64,087 vehicles were reported stolen - an increase of 5% on the previous year. 

While car thefts are on the rise, reports have also highlighted a growing trend of "car cannibalism" - when criminals rip parts off cars to order. 

Bonnets, bumpers and headlights are among the parts often nicked by thieves. 

It might sound like a familiar refrain at this point, but consumer rights expert Scott Dixon says the cost of living crisis is largely to blame. 

Scott, who runs The Complaints Resolver , told us the costs of spare parts and insurance have "rocketed" post-COVID - driving opportunists to turn to crime. 

He also pointed to a scarcity of decent second-hand cars on the market currently, saying people are "holding onto their cars for longer because they can't afford to change them". 

How can you protect your car? 

Scott says there are numerous ways you can prevent your car from becoming a target - and many of them are cheap and simple. 

Get your keys recoded

If you're buying second hand, getting your keys recoded can give you additional security. 

Scott says it's possible the person you bought from could have copies of the keys, allowing them to steal your car or break in. 

Fit a tracking device

This should be fitted professionally, and while it won't stop your vehicle from being stolen, it will increase the chances of police being able to track it down and return it. 

You should be aware, though, that you'll need to pay a fairly costly annual subscription fee. 

Secure your number plate

Some thieves will take number plates so they can steal petrol from forecourts - and Scott says some are now doing this to escape ULEZ fines. 

He recommends getting anti-theft screws to secure your number plate. 

Keep your car tidy

Handbags, phone leads, sat-nav holders and paperwork can all attract the attention of opportunist car thieves. 

Scott says many people are "too careless and complacent" with this - and it's completely free to fix. 

Fit a steering or handbrake lock

You can get these on Amazon for less than £20 each - and because they're visible, they can also act as a deterrent. 

A pedal box, which encases the pedals in a highly visible metal box, is another option. 

A good wheel clamp - Scott recommends this one  - can be bought on Amazon for about £30. 

Another visible deterrent is a sticker to say the vehicle is alarmed or has a tracker fitted. 

Think about where you park

Thieves are more likely to target quiet and dimly lit areas, as well as quiet side streets, Scott says. 

If you can, try to park in a well-lit and busy area - preferably with CCTV. 

Install cameras 

You could keep your dashcam recording through the night (which could capture anyone walking in front of the car) and put up signs stating you have cameras around. 

Fit a car alarm or immobiliser

Although most modern cars have these fitted, older cars often don't. 

Plus, having a professionally fitted alarm or immobiliser could lower your insurance premium. 

Etch your car windows 

You can buy a car window etching kit for less than £15, including warning stickers to show the identification number is traceable. 

If you have your Vehicle Identification Number (VIN) etched onto the doorframe, windows and steering wheel, it can deter thieves from stealing the vehicle or its parts as it will be harder to sell stolen parts if they're personalised. 

Window tinting

Of course, you'll only be able to do this to a certain extent as the law states the front windscreen has to let in at least 75% of light through. For front side windows, you need 70%. 

But there are no rules around the rear windscreen or rear passenger windows, and having a tint can deter criminals from looking into the car. 

Take steps to prevent relay theft

An increasingly popular way to steal cars is through relay theft - when criminals use devices to relay signals from the car key to the car. 

One person will get near enough to the key inside the house to pick up the signal, while a second person will hold another device next to the vehicle. 

All keyless cars are vulnerable to relay theft - but in particular, Audi, BMW, Ford, Hyundai, Land Rover, Mercedes and Volkswagen cars are the most popular targets.

You can help prevent it by keeping your keys in a "Faraday pouch" - which has a lining preventing the keys inside from receiving or transmitting radio frequency signals.

A pack of two is available online for roughly £8. 

Another option is to use a metal container, as the relay device cannot pass through metal. 

You should also avoid storing your keys near doors or windows. 

Starting from next month, gamers will be able to play Xbox titles like Fallout 4, Starfield and Fortnite using Amazon Fire TV.

A new upgrade coming to the Fire TV 4K devices transforms your television into a console, thanks to Xbox Cloud Gaming.

You'll need to be a member of Xbox Game Pass Ultimate to take advantage, plus you'll need a compatible controller and a solid internet connection.

"One of the biggest benefits of cloud gaming is the ability to play premium games without needing a console," Amazon explained.

"The Fire TV Stick may be compact, but it can stream and run graphically intense Xbox games like Senua's Saga: Hellblade II.

"This portability also means you can easily move your cloud gaming setup from the living room TV to a different room or even take it on the road.

"As long as you have a solid internet connection and your compatible Fire TV Stick, and a compatible controller, you can take your Xbox Game Pass games and saved progress travels with you."

Once downloaded, the Xbox app is designed to offer a smooth and seamless experience. Here’s how it works:

• Install and launch the Xbox app from your Fire TV device;
• Sign in with your Microsoft account to play. If you’re an Xbox Game Pass Ultimate member, you’ll have instant access to hundreds of cloud-enabled games;
• Connect a Bluetooth-enabled wireless controller. Controllers like the Xbox Wireless Controller, Xbox Adaptive Controller, PlayStation DualSense, or DualShock 4 controller are all compatible.

A new Amazon Fire TV Stick 4K will set you back £59.99 on Amazon, while a new Xbox Wireless Controller costs £49.59.

Xbox Game Pass Ultimate currently costs £1 for the first 14 days for new members, then is billed at £12.99 per month.

House prices are overvalued by thousands of pounds, according to a major property company.

The typical property is £20,000 more than is affordable to the average household, says Zoopla.

But rising incomes and longer mortgage terms mean the "over-valuation" is expected to disappear by the end of the year.

Zoopla's report said: "House prices still look expensive on various measures of affordability.

"We expect house price inflation to remain muted, likely to rise more slowly than household incomes over the next one to two years."

The average house price is around £264,900 – but according to Zoopla's calculations, the affordable price is £245,200.

"A new government will add a dimension of political stability when the autumn market starts in September and even if the [Bank of England base] rate is not lower by then, a cut will be imminent," said Tom Bill, head of UK residential research at estate agent Knight Frank.

"Given that mortgage rates will steadily reduce as services inflation comes under control, we expect UK house prices to rise by 3% this year."

Zoopla's over-valuation estimate was reached by comparing the actual average house price in its index with an "affordable" price, which was calculated based on households' disposable incomes, average mortgage rates and average deposit sizes for home buyers.

It's one of the most iconic and popular music festivals in the world, and it's notoriously hard to get a ticket.

Glastonbury has rolled around once again and roughly 210,000 people have flocked to Somerset this year as Dua Lipa, Coldplay and SZA headline the UK's biggest festival this weekend.

Those in the crowd are in the lucky minority — an estimated 2.5 million people tried to get tickets for this year's event, meaning the odds really aren't in your favour if you fancy going.

Tickets routinely sell out within an hour of going on sale, and that demand is unlikely to decrease next year, given the festival will likely take a fallow year in 2026.

So, if you're feeling jealous this year, how do you get tickets for Glastonbury 2025, and how can you give yourself the best possible chance?

We've run through all the available details as well as some tips so you're best prepared when the time comes.

Registration details:  Before potential festivalgoers get the chance to buy tickets, they must register on the official website.

One of the reasons this is done is to stop ticket touting, with all tickets non-transferable. Each ticket features the photograph of the registered ticket holder, with security checks carried out to ensure that only the person in the photograph is admitted to the festival.

Registration is free and only takes a few minutes. You will be asked to provide basic contact details and to upload a passport-standard photo.

Registration closes a few weeks before tickets are released.

Where to buy tickets:  Tickets can be bought exclusively at  glastonbury.seetickets.com   once they become available.

No other site or agency will be allocated tickets, so if you see anyone else claiming to have Glastonbury tickets available for purchase, it's most likely a scam.

When tickets go on sale: We don't know the details for next year yet - but Glastonbury ticket sales usually take place in October or November of the year before the festival. 

This year's ticket sales began, following a delay, in November 2023. Coach tickets typically go on sale a few days before (traditionally on a Thursday), with general admission tickets following on the Sunday morning a few days later.

For those that miss out, there's also a resale that takes place in April for tickets that have been returned or for those with a balance that has not been paid.

This year's April resale took place on 18 April (for ticket and coach travel options) and 21 April (general admission tickets and accommodation options).

How much it costs:  General admission tickets for this year's festival cost £355 each, plus a £5 booking fee. That's an increase on last year's price of £335 each, which was also an increase on the 2022 price of around £280.

So, we can probably assume that ticket prices will go up once again for next year's festival. 

Remember, there are options to pay for your ticket in instalments, so you won't have to pay the full price in one go if you don't want to. All tickets are subject to a £75 deposit, with the remaining balance payable by the first week of April.

It's also worth noting that Glastonbury is a family festival, and that's reflected in the fact that children aged 12 and under when the festival takes place are admitted free of charge.

TIPS FOR THE BIG TICKET SALE DAY

The scramble for tickets when they go on general sale is nothing short of painstaking, with demand far outweighing supply.

Here are some tips to give you the best possible chance of bagging tickets:

Familiarise yourself with the website: You may see a reduced, bare-looking version of the booking page once you gain entry. The organisers say this is intentional to cope with high traffic and does not mean the site has crashed, so be sure not to refresh or leave the page.

Once you reach the first page of the booking site, you will need to enter the registration number and registered postcode for yourself and the other people you are attempting to book tickets for.

When you proceed, the details you have provided will be displayed on the next page.

Once you have double checked all of your information is correct, click 'confirm' to enter the payment page, where you will need to check/amend your billing address, confirm your payment information, accept the terms and conditions, and complete the checkout within the allocated time.

Timekeeping: You can get timed out if you don't act fast, so it's a good idea to have your details saved on a separate document so you can copy and paste them over quickly.

You might also have to approve your payment, which could mean answering security questions from your card issuer. Have a device on hand to ensure you're ready for this.

Internet connection: This should go without saying, but you won't stand a chance without a solid internet connection.

Avoid trying to rely on your mobile phone signal, and politely ask those you might share the internet with to delay any online activity that might slow your connection.

Don't give up: Until the page tells you that tickets have sold out, you still have a chance. 

Shortly before that point, there will be a message saying 'all available tickets have now been allocated,' which users often think means their chances are up. 

What it actually means is that orders are being processed for all the tickets that are available. But if somebody whose order is being processed doesn't take our previous advice and runs out of time, their loss could be your gain.

Multiple tabs and devices: Glastonbury advises against its customers trying to run multiple tabs and devices to boost their chances of getting a ticket.

Glastonbury's website says running multiple devices simultaneously is "a waste of valuable resources, and doesn't reflect the ethos of the festival".

"Please stick to one device and one tab," it adds, "so that you can focus on entering your details without confusing your browser and help us make the ticket sale as quick and stress free as possible for all."

Shoppers have been buying bigger TVs to enjoy this summer's European Championships, according to the electrical retailer Currys.

The chain said UK sales were up by more than 30% in the past month, with "supersize" screens — 85-inch and above — selling well in the run-up to the Euros.

"Having a third of the TV market and the Euros being a big event for many people, we're seeing that super-sizing trend keep on giving," said Currys chief executive Alex Baldock.

The most popular, and also cheapest, 85-inch TV on the Currys website costs £999. 

The most expensive super-size TV is a 98-inch offering from Samsung that will set you back £9,499.

Currys reported adjusted pre-tax profits of £118m for the year to 27 April. That represented a 10% increase from the previous year's profits of £107m.

Like-for-like sales for Currys UK and Ireland declined by 2% to £4.97bn in the 12 months to 27 April, with consumer confidence knocked by high inflation levels and rising interest rates.

"We can see our progress in ever-more engaged colleagues, more satisfied customers and better financial performance," Mr Baldock added.

Selling your home can be expensive, with the range of fees that come as part of the selling process meaning costs can really rack up.

Those costs are usually present whether you visit a bricks and mortar estate agents on the high street or if you go online, although Purplebricks has marketed itself as an exception to the rule.

Since December, it has launched a new pricing structure that enables sellers to list their homes without paying a penny, making it the only completely free online estate agent in the UK.

Purplebricks previously charged a fixed fee of £1,349 (including VAT) to sell your house, with that figure rising to £2,999 for those based in and around London. 

That needed to be paid upfront or not later than 10 months after the property was first advertised, even if it went unsold.

Now, after being bought out by rival online estate agency Strike last year, Purplebricks is offering a free service, no strings attached.

Is there a catch, though?

There's no such thing as a free lunch or, it seems, a totally free way to sell your house.

If you'd like to pay more to unlock extras and upgrades, you can do so, with a 'Boost' and 'Full House' package costing £899 and £1,499 respectively.

All estate agents are also required by law to carry out anti-money laundering checks on everyone selling a property.

Typically, that cost is incorporated by estate agents into their service fees. However, as Purplebricks' service is free, it has implemented a separate £60 Anti-Money Laundering (AML) fee for sellers.

What's more, there's also no Rightmove listing included as part of its free service.

As the UK's biggest property portal market, attracting more buyers and sellers than anyone else, Rightmove can help sell your home much faster. 

Purplebricks does include a free Zoopla listing, but adding Rightmove is an optional add-on that will set you back £299.

So, how does Purplebricks make money?

Add-ons and extras. 

Purplebricks will be hoping to make money by customers opting for optional extras or premium services.

As well as the Rightmove example mentioned above, professional photographs and a floorplan will cost £699, while hosted viewings of your property will come at a charge of £899.

Purplebricks can also work with sellers and buyers to help them find the right mortgage deal and by offering them conveyancing services. 

It's important to remember that there is no obligation to buy any of the add-on services, though some will undoubtedly come in handy.

Purplebricks is clear about its up-selling tactics too. This is what its website says:

We’re fully transparent about what little extras we offer and where your money is going – so it really is your choice. When our agent speaks to you, they’ll talk you through the options, and then you can decide if it’s right for you.

In the last few minutes, HSBC has confirmed issues earlier today - with online, mobile banking and payments - have been resolved.

 More now on the news that a string of banks have been suffering from glitches that have delayed payments being made for millions of customers.

Nationwide, Virgin Money, HSBC and Barclays all reported issues with their digital banking services this morning.

It comes on a day many workers are due to receive their wages and many households are paying their bills.

Here are the latest updates from each bank affected:

Virgin Money has announced its mobile banking app is now "fully restored" as of 12.52pm.

"Like other banks, we’re working hard to process the backlog of payments delayed as quickly as possible, and will update you as soon as we can," it posted on X.

"If you have tried to send a payment from your Virgin Money account and received an error message, but it has debited your Virgin Money account, please do not try to make the payment again, as it is in the queue and will be processed."

HSBC customers can also now log on to personal banking both online and on mobile. 

The bank says there are still "secondary issues" they are trying to fix, including viewing recent transactions.

"Customers sending payments may see a slow response or see a failure notice," it added. 

"Please check with the recipient or view your recent transactions in the mobile app via the notifications bell icon in the top right corner before attempting to send the payment again."

Nationwide has reported no issues with its banking app.

In response to the problems receiving salary or pension payments, the building society says payments are being processed and expects them to be paid into accounts today.

Barclays says that some of its customers are reporting that incoming payment issues have now been fixed.

Replying to one customer on X, the bank said: "We have been experiencing some issues with the Faster Payment Scheme that most banks operate through when making payments, however we have had some positive news in the last 5 minutes confirming that the issue is now resolved! 

"With that being said, any payments that you have tried to make should now go through for you so please keep an eye out on your account for these to be reflected. If you do need any further help then we are here 24/7 for you."

On Barclays' service status page, all indicators have now been turned green to show there are no ongoing issues.

Another bank has been affected by technical issues with payments today.

In a reply to a customer on X, Barclays said the glitch was "happening across all banks".

The Barclays reply said: "So sorry to hear you've been caught up in the issue with regards to the payments being made and received. This is an issue with the faster payment system and it's happening across all banks."

More now on the IT issues affecting people who bank with Nationwide, HSBC and Virgin Money.

Customers of all three have been hit with problems affecting their banking services today.

On what is pay day for many across the country, some customers have been unable to receive their salaries or pension payments.

According to the website DownDetector, more than 7,000 problems were reported at about 8.45am this morning.

The site also shows a spike in reports of outages for high street bank Virgin Money and building society Nationwide.

Customers of the banks are particularly upset by the timing of the glitches, with many people needing to pay their bills.

"I'm waiting on money coming into my bank which is still not received even though it's been sent. I can't pay any bills. Even though I have the money for bills," said one customer on X.

"My bills are bouncing and I can’t pay for a train ticket I need in the next hour," said another.

Bank responses

Nationwide  customers complained on X they had not received their wages into their accounts.

The building society said it is "aware there is a delay with some customers receiving their salary or pension payments today".

"These payments are being processed, and will be paid into your account today," it added. "Sorry for any inconvenience this is causing."

Virgin Money  addressed its issues on X this morning, warning customers not to attempt to process payments a second time if they had already tried once,

The bank issued an update on X later, adding - as of 11.08am - it is "aware of intermittent issues with accessing online banking and our app, which we're working to resolve as quickly as possible".

HSBC apologised to its customers and said its IT teams were working on the issue.

In a second update at 12.22pm, the bank said customers could now log into personal online and mobile banking but could still not view recent transactions.

Earlier, we brought you the news that HSBC customers have reported IT issues with mobile banking and the bank's app (see 9.37am post).

Now Nationwide has also said there was a "delay with some customers receiving their salary or pension payments today".

Read more in our breaking news story...

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