Patanjali Ads, Social Media Influencers,Flipkart, EV Two Wheeler, Apple, Copilot, Etc

March 22, 2024

Acharya Balkrishna's Apology: Patanjali Vows to Rectify Misleading Ads, Uphold Ayurveda:

  • Patanjali MD Balkrishna apologises to SC in contempt case for misleading ads.

  • Apology follows notice over ads and criticism of modern medicine.

  • Balkrishna regrets offending sentences, cites lack of awareness. Commits to avoiding such ads in the future, promoting a healthy lifestyle.

  • Highlights advancements in Ayurveda research, challenges outdated laws.

  • SC warns against false claims; bars advertising products for specific ailments.

 Government Warns Social Media Influencers Against Promoting Offshore Betting Platforms:

  • Central government cautions social media influencers against promoting offshore betting platforms.

  • Advisory aims to address financial and socio-economic impact, particularly on youth.

  • Online advertisement intermediaries advised not to target Indian audiences with such content.

  • Social media platforms urged to sensitise users and refrain from publishing such content.

  • Non-compliance may result in proceedings under Consumer Protection Act, 2019.

  • Penalties include removal of posts/accounts and legal action under applicable laws.

 Flipkart Revamps Increment Policy: Introduces Merit-Linked Payouts, 100% Bonuses:

  • Flipkart implements one-time change in increment policy, offering merit-linked payouts and 100% bonuses.

  • Lump sum payments replace traditional salary hikes for employees in Grade 12 and below.

  • Approximately 19,000-20,000 employees to benefit from the new compensation structure.

  • Promoted employees to receive regular increments; wider ESOP allocation for other grades.

  • CEO Kalyan Krishnamurthy communicates details of the new compensation structure in a letter to employees.

  • Company multiplier for bonus payout set at 100% for all employees, including VPs and SVPs.

  • Adjustment aims to balance employee welfare with organisational needs amid challenging economic conditions.

  • Previous year saw a freeze on hikes for 30% of staff; a recent reduction exercise may impact about 1,000 employees.

Electric Two-Wheeler Makers Sound Alarm Over Impact of Electric. Mobility Promotion Scheme (EMPS) 2024: Fear Rs 300 Cr Loss:

  • Electric two-wheeler manufacturers raise concerns over EMPS 2024, foreseeing a loss exceeding Rs 300 crore.

  • The Ministry of Heavy Industries unveils operational guidelines for EMPS 2024, allocating Rs 500 crore for the initial four months from April 1.

  • EMPS 2024 replaces the existing FAME-II scheme, aiming to promote electric mobility in India.

  • Subsidy for electric two-wheelers reduced by half to Rs 5,000 per kilowatt hour under the new scheme.

  • Manufacturers fear the reduced subsidy and cap will adversely impact sales and industry growth.

  • EMPS 2024 represents a significant shift in government support for electric vehicles, prompting industry stakeholders to reassess strategies.

  • Electric vehicle market players advocate for reconsideration of subsidy rates to ensure sustained growth and competitiveness.

Briefs, You Can’t Miss:

  1. OKX Crypto Exchange to Cease Operations in India.

  2. Saurabh Vatsa Appointed as Managing Director of Nissan Motor India.

  3. Income Tax Department Slaps Rs 103.63 Crore Fine on Tata Chemicals.

  4. IPL 2024: Banks and Financial Firms Join Hands for Team Partnerships in Branding Drive.

  5. Delhi CM Arvind Kejriwal Arrested by ED in Excise Policy Case.

  6. China Firmly Opposes US Recognition of Arunachal Pradesh as Part of Indian Territory.

  7. Volkswagen Set to Introduce More Premium Vehicles in India.

  8. Election Commission Releases Electoral Bond Data with Bond Numbers: Full List Available

World Briefs

  • McDonald's Secures French Soccer League Title Sponsorship for Next 3 Seasons.

  • TCS Inks 7-Year Pact with Denmark-Based IT Firm Ramboll.

  • Japan Airlines Breaks Boeing's Exclusive Hold, Orders Airbus Jets in Multibillion Dollar Deal.

  • US Department of Justice Files Case Against Apple Alleging Illegal Monopoly in Smartphone Market.

  • Apple Exceeds PLI Target, Produces iPhones Worth Rs 1 Trillion in FY24

AI Briefs

  • Microsoft Unveils First Surface PCs Featuring Dedicated Copilot AI Button.

  • Introducing Cherry: Your AI Shopping Assistant for Discovering Products with Screenshots or Images