Consumer Products

The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought, the newly installed director of the Office of Management and Budget, directed the CFPB in a Saturday night email confirmed by The Associated Press stop work on proposed rules, to suspend the effective dates on any rules that were finalised but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama pushed to include it in the 2010 financial reform legislation that followed the 2007-2008 financial crisis. The email also ordered the bureau to cease all supervision and examination activity. Since the CFPB is a creation of Congress, it would require a separate act of Congress to formally eliminate it. But the head of

SIL Foods is expected to benefit from RCPL's infrastructure and pan-India presence

Ganesh Consumer Products Ltd, an FMCG player in eastern India, on Friday said it has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO) in the capital market. The proposed IPO comprises a fresh issue of shares worth up to Rs 130 crore and an offer-for-sale (OFS) of up to 12.44 million equity shares by promoter and investors, according to filing documents, a company statement said. The face value of each share is Rs 10. The company may also consider a pre-IPO placement of equity shares worth up to Rs 26 crore, which will be adjusted against the fresh issue, it said. Proceeds from the fresh issue will be utilised to prepay debt by Rs 50 crore and for capital expenditure for setting up a new manufacturing unit in Darjeeling, West Bengal at Rs 50 crore, and for general corporate purposes, the company stated. Ganesh Consumer Products, established in 1936, is a market leader in pack

The Consumer Affairs Ministry on Sunday proposed an amendment to the Legal Metrology (Packaged Commodities) Rules, 2011, seeking to mandate the declaration of key information on pre-packaged commodities weighing over 25 kg or measuring more than 25 litres sold in retail markets. The move aims to close a loophole that currently exempts such bulk packages from displaying crucial details like maximum retail price (MRP), best before date, manufacturer information, and country of origin. "It is observed that packaged commodities above 25 kg are also available in the market for retail sale, which is not as per the intention to make all declarations on pre-packaged commodities meant for retail sale," the ministry said in a statement. The proposed amendment would require manufacturers, packers, and importers to provide comprehensive labelling on all pre-packaged goods intended for retail sale, regardless of quantity. This is expected to bring clarity to the industry and aid consumers in ..

Marico, which operates in Bangladesh, Vietnam, the Middle East and Africa, also cited significant currency depreciation in select overseas geographies as the key factors behind the drop in revenue

Notably, to address the concern of the rapid rise in unsecured consumer loans, the RBI increased the risk weight on consumer credit

The Centre on Monday directed state governments to enforce Bureau of Indian Standard (BIS) certification on consumer products while stressing the use of digital technology to protect consumer rights and reduce pending cases in consumer courts. After inaugurating a day-long workshop on "Consumer Protection in the northern states" held in Chandigarh, Consumer Affairs Secretary Rohit Kumar Singh emphasized the role of technology in strengthening the consumer protection ecosystem and the importance of infrastructure and human resources in consumer commissions. The Secretary said, "State heads should ensure that BIS Certification is enforced on required products for consumer safety," an official statement said. He also discussed the time dissemination project by Indian Space Research Organisation (ISRO) to reduce India's reliance on Western countries for time accuracy. Nidhi Khare, Additional Secretary in the Consumer Affairs Ministry, stressed the use of digital technology to protect .

CEOs optimistic about coming months as govt's mega capex drive gains pace

Many small brands swallowed up in catch-up acquisition spree

The acquisition will give Wipro Consumer Care and Lighting an entry into the Rs 70,000-crore spices market, which recently witnessed the entry of companies such as Dabur India

Deal valuation pegged between Rs 1,000-1,500 crore

Quick commerce fastest-growing consumer technology industry in India, he says

Tata Consumer Products will issue one equity share for every 22 share held in Tata Coffee to existing shareholders

Raymond's sales rise 15% in September quarter versus pre-Covid period

Tata Consumer Products Ltd (TCPL) on Thursday reported a 36.25 per cent rise in consolidated net profit at Rs 389.43 crore for the second quarter ended September 30, 2022. The company had posted a net profit of Rs 285.80 crore for the July-September period a year ago, TCPL, earlier known as Tata Global Beverages Ltd, said in a BSE filing. Revenue from operations climbed 10.87 per cent to Rs 3,363.05 crore during the quarter under review as against Rs 3,033.12 crore in the corresponding period last year. Total expenses of the Tata group's FMCG arm were at Rs 3,021.90 crore, up 11.55 per cent from Rs 2,708.91 crore earlier. TCPL Managing Director and CEO Sunil D'Souza said: "We delivered another quarter of double-digit revenue growth while balancing margins despite inflationary pressures, weakness of currency and some lag in pricing in International Markets." TCPL's revenue from the Indian market in July-September rose 9.19 per cent to Rs 2,159.95 crore, as against Rs 1,978.08 crore

Twitter will be paying close attention to how the feature can impact the way people read, write, and engage with tweets

The Consumer Affairs Ministry has proposed printing the percentage of two or more major constituents used in a commodity visibly on the front side of the packaging for the benefit of consumers, and sought comments from the stakeholders by month-end. This comes as the ministry has observed that many manufacturers, packers and importers are not making important declarations prominently on the front side of the package, which is necessary in the interest of consumers and also violate their consumer right of "Right to be informed". "The declaration of unique selling point/unique selling proposition (USP) of the product on the front side of the package without its percentage of composition is against the consumer rights," the ministry said on its website. In the interest of consumers, the ministry has proposed amendment to the Legal Metrology (Packaged Commodities) Rules, 2011 to include the following sub-rule. In case a commodity contains more than one constituent, "the front side of t

The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1,00,000 on e-commerce player Flipkart for allowing the sale of substandard domestic pressure cookers on its platform. Speaking to PTI, CCPA Chief Commissioner Nidhi Khare said a penalty of Rs 1,00,000 has been imposed on Flipkart for allowing the sale of substandard pressure cookers on its e-commerce platform and violating the rights of consumers. Flipkart has also been directed to notify consumers of all 598 pressure cookers sold on its platform, recall the pressure cookers and reimburse money to the consumers, she said. The company has also been asked to submit a compliance report of the same within 45 days, she added.

The company had posted a net loss of Rs 24.97 crore during the April-June quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing.

According to economists, inflation is likely to ease by October as the monsoons have been progressing well with the cumulative rainfall being 9 per cent above the long-term average up to July 12