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It seems there is something called commercial grade steel. E.g. instead of 10mm, they may sell you 9.5mm or so.
This shall affect strength. Any idea, how to check this and make sure vendor does not do this.

Further, is it true for branded TOR / TMT Steel too ?

Hi nalin
If you opt for a good brand this doesn't happen, easy way is to check with Vernier Caliper available with the vendor him self in front of you before you accept the steel.More than the thickness , you should be careful about pure steel rather than recycled steel.You can check this looking at the cross section of the steel.
This can be judged only by experts.

regards
Ar.Praveen.N
Ardes Architects and Interior Designers