Action to be taken against food manufacturers for their misleading ads
Many food item manufactures in India might be in trouble for making misleading claims in the advertisements of their products. For this, the Indian government has launched a prosecution against such food manufacturers of 19 food items. The Minister of…
Esprit to shut operations in India by year-end
Popular retail giant Esprit is all set to wind up its operations in India by the end of 2012. The company entered the Indian market in the year 2005 through a distribution deal with Madura Fashion and retail, an Aditya…
Cadbury develops new chocolates that do not melt at high heat
Chocolate manufacturing giant Cadbury has come with new ‘temperature tolerant chocolates’ which do not even melt even at 40 degree Celsius. The new range of chocolates will soon be available in hot-weather countries like India. While talking about the new…
Chidambaram to launch direct cash transfer scheme on Jan 1, 2013
After Prime Minister Manmohan Singh formally announced the introduction of direct cash transfers to beneficiaries of subsidies; Finance Minister P Chidambaram said that 42 schemes have been identified for the same, which include food, fertilizers and NREGA. Chidambaram added that…
Rapid Rail in NCR to cost Rs. 72,000 crores
The Indian government has an ambitious plan to connect three major locations in the National Capital Region (NCR) to Delhi through rapid rail. However, the project will need a hefty investment of Rs. 72, 000 crores. The proposal is likely…
Mumbai-Delhi trains at to run at 200kmph
Before bullet trains become a reality in India, the Indian Railways is gearing up to reduce the travel time between Mumbai and Delhi. Indian railways is all set to introduce semi-high-speed trains, which have a top speed of 200 kmph. An…
Banks advised to assign reasons to reject educational loans
The Indian Parliament on November 22, 2012, informed that all banks have been asked to assign reasons for rejecting educational loan applications. The banks have been advised that the rejection of loans has to be done with the approval of…
PepsiCo gets IPL sponsorship for next five years
American based food and beverage company PepsiCo has become the new title sponsor of the Indian Premiere League for the next five years. The company has agreed to pay Rs. 396.8 crores for the deal with BCCI which controls the…
RBI bans banks from providing loans for gold
On November 19, 2012, the Reserve Bank of India (RBI) has notified all banks that there is a total ban from advancing any loans to their customers in regards the purchase of gold in any form. This will include gold…
Raymond to launch beer shampoo for Indian market
Men’s apparel and grooming giant Raymond said that it will soon launch a beer shampoo for men. The company said that its new product can work wonders with hair. The clothing giant will be rolling out the new shampoo under…