The higher the star rating, better the product is what the Bureau of Energy Efficiency (BEE), would like you to believe. But, do not be blinded just by these matrix figures.
Star rating has caught consumer frenzy in every sphere—be it the app-based cab service, mutual fund schemes, insurance policies or the neighbourhood food joint. The belief that a higher rating indicates better product or service is not always true, as ratings are subjective and based on extensive data and experiences shared by people. So, about a decade ago, when the Bureau of Energy Efficiency (BEE) initiated star labelling on manufacturers of electrical goods like air conditioner, refrigerator, geyser, tubular fluorescent tube light among others, the intent was to get consumers to choose products where the power savings was high depending on the star rating of the product.
Since 2008 it is mandatory for product manufacturers of both white and brown goods to have the star ratings mentioned on their products prominently. Says Vijay Babu , Business Head, Residential Air Conditioners - LG Electronics: “For manufacturers star labelling provides an opportunity to differentiate and showcase their product excellence with the help of Star labels.” The move is commendable considering that the ratings reflect the power consumed by these goods. Considering that the cost of running an AC or refrigerator hinges on the power it consumes, it is very useful to know which product consumes more power, which in turn indicates its operational cost.
Gaining popularity
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.
PLANNING TO BUY CHILD INSURANCE? THINK TWICE
Child insurance plans combine insurance and investment but often offer low returns due to high costs, making a combination of a term insurance cover and mutual fund a better option for securing your child’s higher education needs
How Do You Define Happiness?
Money does buy happiness, but after a while, the appeal fades. We talk about our relationship with money, but, maybe, it’s time to revisit our relationship with happiness
Avoid Crypto As It Is Highly Volatile
I am 22 years old and have recently started working. I want to invest a small portion of money in cryptocurrency. How should I go about it? Does it require a huge capital investment?
Invest Right, Don't Speculate
The lure of high returns and quick gains from equity tips, cryptocurencies, and equity F&O can be enticing. But remember, return of capital is more important than return on capital
The Wedding & Budget: Is Minimalist Trend The Right Knot For You?
Indian weddings are known for their pomp and grandeur, but minimalist weddings are also in vogue now. Dia Mirza was one such celebrity who went for a minimalist wedding. If you also want to keep things minimal on your big day, here’s how to do it
Here's How To Buy An ETF?
Mutual funds are the preferred choice for retail investors. However, they come at a cost and fund management risk, apart from other risks. A smarter alternative is to invest through ETFs.
How Passive Funds Help Diversify
Passive funds provide a simple way to invest in broad markets as well as in specific themes and sectors, making them ideal for an investor's satellite portfolio
The Rise Of Passive Funds
The popularity of passive funds among retail investors has risen post Covid, and fund houses are out with many variations of ETFs and index funds. Does this category present a new opportunity for investors?
Tax Reforms: What's In Store?
The government is working on reforming the existing Income-tax Act, 1961. The impending reforms have raised many questions in the minds of taxpayers. Will the old regime and deductions be done away with? Will it really simplify your life? What's the need for these reforms? We try to answer these and other questions regarding tax reforms