Name: July retail inflation at 7.44%; rises to 15 month high as vegetable prices surge
Uploaded: 2023-08-14T18:32:17.000+05:30
Duration: T00M34S
Channel: PTI
Description: As the inflation in the food basket was 11.51% in July, the retail inflation too jumped to a 15 month high of 7.44%

Flipkart Big Billion Days Sale 2023: The much-awaited sale is starting from September 28. Check out the sale dates, axis, icici and other bank offers on smartphones, electronics, etc. here.

Flipkart Big Billion Days 2023 Sale to start from September 28: Check ICICI, Axis and Other Bank Offers

Flipkart Big Billion Days 2023 Sale to start from September 28: Check ICICI, Axis and Other Banks Offers

<h2>Flipkart Big Billion Days 2023: The much-awaited sale typically kicks off before the festive season, offering shoppers a fantastic opportunity to grab their favorite products at unbelievable prices.</h2>

The eagerly anticipated Flipkart Big Billion Days Sale for 2023 is just around the corner, promising a treasure trove of offers, discounts, and deals spanning various product categories, from electronics to clothing. If you've been eagerly awaiting this sale, here's everything you need to know:
<h3>Flipkart Big Billion Days 2023 Sale: When is it taking place?</h3>
While the precise dates for the Flipkart Big Billion Days Sale 2023 are still under wraps, excitement is steadily mounting. This highly anticipated sale traditionally commences just ahead of the festive season, presenting shoppers with a remarkable chance to snag their preferred items at jaw-dropping prices. Flipkart's Big Billion Days sale is starting on September 28, 2023, on smartphones.
<h3>Flipkart Big Billion Days Sale 2023: Bank Offers</h3>
Flipkart is pulling out all the stops for this year's sale. Shoppers using select debit and credit cards from ICICI Bank, Axis Bank, and Kotak Mahindra Bank can enjoy an enticing instant discount of up to 10 percent.
Also Watch: <a href="https://www.editorji.com/business-news/amazon-great-indian-festival-sale-2023-exciting-discounts-to-bank-deals-all-you-need-to-know-1695731077537" target="_blank">Amazon Great Indian Festival 2023 Sale: Exciting discounts to bank deals, all you need to know</a>
But that's not all &ndash; if you opt for transactions through Paytm, UPI, or other digital wallets, you'll also be in for guaranteed savings. Plus, Flipkart is rolling out additional options like the convenient Flipkart Pay Later feature, no-cost EMIs, and enticing exchange discounts.
<h3>Big Billion Days Sale 2023 Flipkart: The Element of Surprise</h3>
Flipkart is keeping some of its most exciting discounts tightly under wraps until the sale's opening day. The anticipation is real! Look out for exclusive deals on iPhones starting on October 1, Samsung's irresistible smartphone offers on October 3, Xiaomi's tempting smartphone deals on October 7, and Pixel handset discounts on October 5.
It's a waiting game until these dates, but trust us; it'll be worth it to uncover these fantastic discounts on your favorite products.

JPMorgan aims at India's growth in 2024, citing "China plus one" strategy's appeal for global giants. India's scale and 6.5% growth projection attract Apple and Tesla, despite infrastructure challenges

JPMorgan identifies India among Asia's top three fastest-growing markets

JPMorgan aims at India's growth in 2024, citing "China plus one" strategy's appeal for global giants. India's scale and 6.5% growth projection attract Apple and Tesla, despite infrastructure challenges

JPMorgan, the Wall Street bank, has set its sights on India as one of the top three fastest-growing markets in the Asia Pacific region for the year 2024. According to Filippo Gori, JPMorgan's CEO for Asia Pacific, India is poised to benefit significantly from the "China plus one" strategy, wherein businesses are diversifying their supply chains beyond China. He stated that India's vast scale makes it an attractive destination for companies worldwide looking to relocate parts of their supply chain.
Global giants like Apple Inc. have already increased their production activities in India, while companies like Tesla are actively exploring opportunities for manufacturing within the country. India, Asia's third-largest economy, is projected to grow at a rapid pace of 6.5% in the financial year ending March 31, 2024, outpacing other major economies. To attract global corporations, India has been offering incentives, including tax benefits.
Despite the ongoing excitement, Gori noted that organized infrastructure remains a challenge in India, which is more scattered and less uniform compared to China. While low-end manufacturing is gradually shifting away from China, high-end manufacturing has not made the transition yet.
JPMorgan has been actively expanding its presence in India, bolstering its investment banking team with the addition of two senior managing directors in the past year. The bank has also focused on growing its commercial banking division, targeting mid-sized companies, and its corporate center business, which handles offshoring-related operations.
Gori also commented on the impact of China's economic slowdown and market fluctuations, stating that the bank has not witnessed a sharp decline in business volumes. JPMorgan primarily serves international companies operating offshore in China, and this segment has remained resilient despite geopolitical challenges.
In conclusion, JPMorgan's positive outlook on India's economic growth and potential as a key market in the Asia Pacific region in 2024 underscores the country's growing appeal for global businesses seeking new opportunities outside of China.

Billionaire Mukesh Ambani's 3 children as directors of Reliance Industries Ltd to be paid only a fee for board committee meetings and would not be issued a salary.

Mukesh Ambani succession plan: Children- Akash, Isha and Anant to receive board meeting fees, no salary

Ambani succession plan: Children to receive board meeting fees, no salary

<h2>Ambani's 3 children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a board meeting&nbsp;fee and a commission on the profit earned by the firm</h2>

Billionaire Mukesh Ambani's three children, who are set to become directors of Reliance Industries Ltd, will be compensated solely through fees for attending board and committee meetings, as stated in a resolution requesting shareholder approval for their appointment to the board.
While Mukesh Ambani himself has not drawn a salary from the company since the 2020-21 fiscal year, other executive directors, including his cousins Nikhil and Hital, receive salaries, perquisites, allowances, and commissions.
Also read/watch: <a href="https://www.editorji.com/business-news/world-tourism-day-irctc-mark-with-exciting-discounts-waived-convenience-charges-1695723610844">World Tourism Day 2023: IRCTC mark with exciting discounts, waived convenience charges</a>
<h3>No Salary for Mukesh Ambani's Children</h3>
Ambani's three children&mdash;twins Akash and Isha (both 31 years old) and Anant (28 years old)&mdash;will receive sitting fees and a commission based on the firm's profits.
Their appointment terms are in line with those of Ambani's wife, Nita Ambani, who joined the company's board in 2014. She earned a sitting fee of Rs 6 lakh and a commission of Rs 2 crore in the 2022-23 fiscal year, according to the company's latest annual report.
Mukesh Ambani announced at the company's annual shareholders meeting last month that his three children would join Reliance's board of directors. He also stated that he would continue as the company's chairman and CEO for another five years, focusing on grooming and empowering the next-generation leaders.
Reliance has now sent out a postal ballot to shareholders to seek approval for their appointment as board directors. They will be remunerated through fees for attending board meetings, expense reimbursements, and profit-related commissions, as stated in the notice.
Ambani first unveiled a succession plan for the conglomerate in 2022, with each of his three children slated to head various divisions of the company. However, the succession plan for Reliance's core oil-to-chemicals (O2C) division has not been revealed.
At the annual general meeting last month, Reliance shareholders approved Ambani's five-year term extension as the head of India's most valuable company. Ambani has opted not to receive a salary for this period, continuing a trend he started in FY21 due to the COVID-19 pandemic.
As part of the succession planning, Nita Ambani resigned as a director of Reliance but has been made a permanent invitee to all board meetings, a status none of the other directors enjoy. Mukesh Ambani and other directors require shareholders' approval for any extension beyond their current approved terms, but Nita will continue on the board indefinitely.
Isha holds 0.12% equity shares of the company, and Mukesh Ambani owns 41.46% of Reliance shares.
Akash heads India's largest telecom company, Jio, and spearheads the development of products and services leveraging new-age technologies.
Anant is responsible for the expansion of Reliance's energy and materials businesses, as well as its global operations in renewable and green energy.
Also read/watch: <a href="https://www.editorji.com/business-news/manmohan-singh-s-birthday-pivotal-economic-reforms-during-his-tenure-as-india-s-fm-1695720542431">Manmohan Singh's Birthday: Pivotal economic reforms during his tenure as India's FM</a>
Both Akash and Isha have been on the boards of directors of both Jio and Reliance Retail since October 2014. Anant is on the boards of retail and Jio, in addition to firms focused on new energy businesses.
Mukesh Ambani has been a member of Reliance's board since 1977 and became chairman of the company in July 2002 after his father's passing.
He capped his annual remuneration at Rs 15 crore from FY08-09 to FY20 and, since FY21, chose not to receive a salary due to the pandemic until the company and its businesses returned to their earnings potential. The company's board has recommended that he continue to forego a salary and profit-based commission from April 19, 2024, to April 18, 2029.

The deadline for existing eligible trading and demat account holders to provide a choice of nomination has been extended till December 31, 2023. Check out for more details.

Demat Account Nominee Last Date Extended! SEBI extends nomination deadline till December 31, 2023

SEBI extends deadline for demat account holders to add nominees till December 31st

<h2>SEBI has extended the last date for submission of nomination for the existing demat account holders to December 31, 2023</h2>

If you haven't yet added a nominee to your demat account, then you're in luck. Capital markets regulator SEBI has extended the deadline for existing demat account holders to add a nominee to December 31st from September 30th earlier.
Now, demat account holders have until December end to make their choice of nomination or formally opt out of nomination using a declaration form.
Furthermore, SEBI has made the submission of 'choice of nomination' for trading accounts voluntary, aiming to simplify business operations. Also read/watch: <a href="https://www.editorji.com/business-news/citigroup-layoffs-ceo-jane-fraser-s-transformation-drive-sparks-top-level-exodus-and-internal-concerns-1695787613547">Citigroup CEO&rsquo;s stern warning to employees amid major organizational revamp</a>
This extension is designed to assist investors in safeguarding their assets and ensuring their transfer to legal heirs. SEBI has also granted physical security holders until December 31 to provide PAN, nomination, contact details, bank account information, and specimen signatures for their respective folio numbers.
This decision follows SEBI's earlier instructions in July 2021, which mandated existing eligible trading and demat account holders to select a nomination by March 31, 2022, later extended to March 31, 2023, and subsequently to September 30, 2023.&nbsp;

Citigroup Layoffs 2023: CEO Jane Fraser demands full commitment to sweeping changes or potential departure from employees. Her restructuring aims to streamline operations, but undisclosed job cuts and leadership vacancies raise internal concerns.

Citigroup Layoffs 2023: Citigroup CEO Jane Fraser's stern warning to employees amid major organizational revamp

Citigroup CEO Jane Fraser demands full commitment to sweeping changes or potential departure from employees. Her restructuring aims to streamline operations, but undisclosed job cuts and leadership vacancies raise internal concerns

<h2>Citigroup CEO Jane Fraser demands full commitment to sweeping changes or potential departure from employees. Her restructuring aims to streamline operations, but undisclosed job cuts and leadership vacancies raise internal concerns</h2>

Citigroup Layoffs 2023: Citigroup CEO Jane Fraser has delivered a firm message to the bank's 240,000 employees, urging them to wholeheartedly embrace the sweeping changes she unveiled on September 13 or "get off the train," as reported by the Financial Times. The call to action follows Fraser's strategic restructuring plans aimed at aligning Citigroup's management with its vision and streamlining operations.
Fraser, known for her approachability, is displaying a new level of resolve as she reshapes the bank. Her recent announcement outlined ambitious plans to eliminate complexity and bolster accountability.
<h3>Citigroup CEO Jane Fraser&rsquo;s Stern Message to Employees</h3>
"I am determined that our bank will deliver to our full potential, and we're making bold decisions to meet our commitments to all our stakeholders," Fraser said.
"These changes eliminate unnecessary complexity across the bank, increase accountability for delivering excellent client service, and strengthen our ability to benefit from the natural linkages that exist amongst our businesses, all to deliver on our medium-term targets and our transformation."
Fraser reiterated her message during a recent town hall meeting, urging Citigroup's workforce to embrace the bank's ambitious goals. "So lean in, help us win with clients, help us deliver the changes, or get off the train," she emphasized.
Fraser's determination for transformation stems from her pledge to enhance Citigroup's profitability and reduce risk. However, the specifics regarding job cuts and cost reduction remain undisclosed, leading to internal unease.
Moreover, Citigroup is yet to appoint permanent heads for its investment, commercial, and corporate bank divisions. The bank has enlisted the services of executive search firm Egon Zehnder to identify suitable candidates, with a focus on external talent.
Since Fraser's restructuring announcement, several senior executives have left Citigroup, and the exodus is expected to accelerate in the coming weeks. Among those departing is Eduardo Cruz, who led Citi's Latin American investment banking operations. High-ranking executives overseeing Citigroup's non-US business, including European unit head Kristine Braden, have also exited in response to Fraser's changes.
Citigroup employees in the UK have received a memo indicating an impending review process that will lead to a "reduction in roles." However, the memo did not specify the number of positions to be eliminated among the 16,000 UK staff members.
Fraser's vision for Citigroup's future is clear, but the path forward remains uncertain for both the bank's employees and the financial industry as a whole. Also Watch: <a href="https://www.editorji.com/business-news/citigroup-launches-major-restructuring-effort-with-potential-layoffs-1694761096914">Citigroup to undertake major restructuring with potential layoffs</a>

Byju's layoff 2023: Byju's, led by new CEO Arjun Mohan, initiates major restructuring with potential layoffs affecting 5,000 jobs. Check out for more details.

Byju's Layoffs 2023: Edtech firm undergoes major restructuring under new CEO, potential job cuts of 5,000

Byju's, led by new CEO Arjun Mohan, initiates major restructuring with potential layoffs affecting 5,000 jobs. Facing a liquidity crisis, the edtech giant aims to streamline operations, explore subsidiary sales, and secure external funding.

<h2>Byju's, led by new CEO Arjun Mohan, initiates major restructuring with potential layoffs affecting 5,000 jobs. Facing a liquidity crisis, the edtech giant aims to streamline operations, explore subsidiary sales, and secure external funding</h2>

Byju's layoffs 2023: Byju's, the renowned edtech giant, is undergoing a significant restructuring process under its newly appointed CEO, Arjun Mohan, which could result in the reduction of 4,000 to 5,000 jobs, Moneycontrol reported through sources.&nbsp;
This restructuring primarily affects employees based in India at Think and Learn Pvt Ltd, the entity responsible for operating Byju's, with Aakash remaining unaffected, according to inside sources.
Arjun Mohan, a seasoned Byju's executive who recently assumed the role of CEO, has relayed these decisions to the company's senior leadership. The impending job cuts are expected to touch various departments, including sales, marketing, and areas with significant redundancy. Mohan succeeds Mrinal Mohit, another long-serving Byju's executive.
<h3>Liquidity concerns at Byju's</h3>
This move comes at a crucial juncture for Byju's, as the edtech unicorn grapples with a challenging liquidity situation. The company has already downsized its office spaces, explored subsidiary sales, and initiated efforts to secure external funding. Byju's has undergone several rounds of layoffs in the past.
<h3>Byju's Statement</h3>
A company spokesperson stated, "We are in the final stages of a business restructuring exercise to simplify operating structures, reduce the cost base, and better cash flow management. Byju's new India CEO, Arjun Mohan, will be completing this process in the next few weeks and will steer a revamped and sustainable operation ahead."
<h3>Cash crunch and growing debt</h3>
This urgency to conserve cash arises from Byju's need to address an impending liquidity crunch concerning lender commitments.
Earlier this month, Byju's proposed to repay its disputed $1.2 billion term loan B to lenders within the next six months, with an initial payment of $300 million in the next three months.
The company is exploring subsidiary restructuring and the sale of key assets, including Great Learning and US-based Epic, to fund this repayment plan.
Also Watch: <a href="https://www.editorji.com/business-news/byju-s-crisis-postpones-final-salary-settlement-for-laid-off-employees-to-november-1695035794131">Byju's crisis: Postpones final salary settlement for laid off employees to November</a>

The average price of 1 gram of 22K Gold stood at ₹5,450 while the cost for 24K gold prices stood at ₹5,945 and 1 kg silver stood at ₹74,200

Gold, Silver Rates today September 27, 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

<h2>The average price of 1 gram of 22K Gold stood at ₹5,450 while the cost for 24K gold prices stood at ₹5,945 and 1 kg silver stood at ₹74,200</h2>

Both Gold and Silver prices went down on the Multi Commodity Index on Wednesday.
The average price of 1 gram of 22K Gold stood at ₹5,450 while the 24K gold prices stood at ₹5,945.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹59,780, which was followed by Delhi and Lucknow where the gold costs ₹59,600.&nbsp;
The average price of 10gm of Silver was at ₹742 and 1 kg of silver stood at ₹74,200.
However, in Chennai, Hyderabad and Kerala the metal was sold at ₹77,000, followed by Mumbai and Delhi where the metal was sold at ₹74,200
Indian Major Cities 24 Carat Gold Rate per 10gm Today September 27
Delhi - ₹59,600 Chennai - ₹59,780 Mumbai - ₹59,450 Kolkata - ₹59,450 Bengaluru - ₹59,450
Indian Major Cities 1 KG Silver Rate Today September 27
Delhi - ₹74,200 Chennai - ₹77,000 Mumbai - ₹74,200 Kolkata - ₹74,200 Bengaluru - ₹73,500

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Asian Games 2023

As the inflation in the food basket was 11.51% in July, the retail inflation too jumped to a 15 month high of 7.44%

July retail inflation at 7.44%; rises to 15 month high as vegetable prices surge

As the inflation in the food basket was 11.51% in July, the retail inflation too jumped to a 15 month high of 7.44%

Retail inflation jumped to a 15-month high of 7.44% in July as prices of vegetables and other food items spiked, according to official data released on Monday.
The Consumer Price Index (CPI) based inflation was at 4.87% in June and 6.71% in July 2022.
Previously, high inflation was recorded at 7.79% in April 2022.
Also Read: <a href="https://www.editorji.com/business-news/july-wpi-inflation-stays-in-negative-but-rises-to-1-36-as-food-prices-shoot-up-1692006439471">July retail inflation at 7.44% as vegetable prices surge</a>
The inflation in the food basket was 11.51% in July compared to 4.55% in June and 6.69% in July 2022, as per the data.
The retail inflation in vegetables year-on-year was 37.43% while the rate of price rise in 'cereals and products' was 13%, showed the data released by the National Statistical Office (NSO).

Godrej Properties has sold 670 apartments worth over Rs. 2,000 crore in its Godrej Tropical Isle project in Noida. The project was launched in August 2023.

Godrej Properties has sold 670 apartments worth over Rs 2,000 crore in its Noida project

Godrej Properties has said that the Godrej Tropical Isle located in Sector 146 in Noida has been the most successful project in terms of sales volume and value 

<h2>Godrej Properties has said that the Godrej Tropical Isle located in Sector 146 in Noida has been the most successful project in terms of sales volume and value&nbsp;</h2>

Godrej Properties in its newly launched housing project has sold 670 apartments worth over Rs 2,000 crore. The housing project is located in Sector 146, Noida.
As per Godrej Properties, the launch of Godrej Tropical Isle has been the most successful project in terms of sales volume and value. The company won the land through e-auction conducted by the Noida Authority in November last year and started the construction project in August.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/mumbai-property-registrations-set-to-surge-26-in-august-highest-in-10-years-report-1693495390461">Mumbai property registrations set to surge 26% in August, highest in 10 years: Report</a>
Meanwhile, MD and CEO of Godrej Properties Gaurav Pandey has said that Noida is an extremely important market for Godrej Properties and that the company will look further to strengthen the company&rsquo;s presence in the area in the coming years.
Sector 146 in Noida located closely to social and commercial centres such as the Noida Special Economic Zone (SEZ), entertainment hubs and Film City. The sector is also well-connected to different parts of Delhi, making it a prefered residential space.&nbsp;
In September, Godrej Properties had bought a 15 acres of land in Sector 103 of Gurugram, Haryana, for Rs 403 crore from Microtek Infratech. Prior to this, the company had acquired a nine-acre land parcel in Gurugram for a premium residential project. The real estate company is currently developing luxury homes at Golf Course Road in Gurugram with a revenue potential of Rs 3,100 crore.&nbsp;

Bengaluru Bandh: 2-day bandh is expected to cost the state of Karnataka approximately Rs 4,000 crore, Hoteliers Association estimates a loss of Rs 100 crore.

Bengaluru Bandh: 2 day shutdown to cost Karnataka Rs 4,000 crore

While Karnataka Employers Association and Karnataka Chambers of Commerce and Industry have now predicted that the 2-day bandh is expected to cost the state of Karnataka approximately Rs 4,000 crore, Hoteliers Association estimate a loss of Rs 100 crore

<h2>While Karnataka Employers Association and Karnataka Chambers of Commerce and Industry have now predicted that the 2-day bandh is expected to cost the state of Karnataka approximately Rs 4,000 crore, Hoteliers Association estimate a loss of Rs 100 crore</h2>

Bengaluru Bandh: A dawn-to-dusk Bandh was observed on Tuesday in Bengaluru against releasing Cauvery water to Tamil Nadu. Now, pro-Kannada organisations have called for another Bandh on September 29.
<h3>Bengaluru Bandh disrupts economic activities</h3>
According to the Times of India, industry bodies such as Karnataka Employers Association(KEA) and Karnataka Chambers of Commerce and Industry (FKCCI) predict that the 2-day bandh is expected to cost the state of Karnataka approximately Rs 4,000 crore.
"One day closure by only the trading community amounts to a Rs 100 crore loss in GST collection to the state exchequer. Consider this multiple times across all spheres of economic activities,&rdquo; said Ramesh Chandra Lahoti, FKCCI president-elect told Times of India.
Meanwhile, Industry bodies have also argued that the Bandhs will cripple the economy that had just recovered from the pandemic. They further said that the Bandhs hinder its growth towards becoming a $1-trillion economy.
"Bandhs hurt the livelihood of people. They can never be an option for any issue, be it sentimental or political,&rdquo; BC Prabhakar, president of KEA told Times Of India.
According to the Federation of Karnataka Chambers of Commerce &amp; Industry (FKCCI), a business requires at least one week to recover from the losses incurred from just one single day of closure.
Hotelier's association, which employs nearly 10 lakh people directly or indirectly, estimates a loss of Rs 100 crore in excise duty, reported Times Now.&nbsp;
&ldquo;While reports suggest heavier losses, revenue generation in our industry is on a daily basis. Other industries can restart operations the next day and recoup losses, but that's not possible for hoteliers,&rdquo; PC Rao, president of Bengaluru Hotelier's association, told Times Now.
Also Read: <a href="https://www.editorji.com/business-news/economy/2-000-notes-what-happens-after-the-september-30-deadline-1695650246009">₹2,000 notes: What happens after the September 30 deadline?</a>

Amazon faces a significant antitrust lawsuit over alleged anti-competitive trade practices in the USA. The FTC and 17 states claim higher prices and unfair practices, challenging the company's dominance in the market.

Amazon hit by massive lawsuit in US over alleged anti-competitive trade practice

Amazon faces a significant antitrust lawsuit for alleged anti-competitive actions. The FTC and 17 states claim higher prices and unfair practices, challenging the company's dominance in e-commerce

<h2>Amazon faces a significant antitrust lawsuit for alleged anti-competitive actions. The FTC and 17 states claim higher prices and unfair practices, challenging the company's dominance in e-commerce</h2>

Amazon is facing a significant legal battle as the Federal Trade Commission and 17 U.S. states jointly filed a lawsuit against the e-commerce giant, alleging anti-competitive practices that inflate online prices and overcharge sellers.&nbsp;
This lawsuit, which was filed in a federal court in Amazon's home state of Washington, marks one of the most substantial challenges the company has faced in its nearly three-decade history.
The FTC and state regulators contend that Amazon has violated federal and state antitrust laws, seeking a permanent injunction to curb what they view as unlawful conduct.&nbsp;
<h3>Complaint against Amazon</h3>
The complaint accuses Amazon of discouraging sellers from offering lower prices on non-Amazon websites by burying such listings while imposing high fees on sellers. These fees force merchants to increase their prices on Amazon and other e-commerce platforms to remain competitive.
FTC Chairman Lina Khan expressed concerns about Amazon's monopoly power, stating that it enriches itself while raising prices and degrading services for millions of American consumers and thousands of businesses that rely on its platform.
<h3>Amazon's response</h3>
In response to the lawsuit, Amazon defended its practices, arguing that the FTC's claims were erroneous and could lead to fewer product choices, higher prices, and slower deliveries for consumers. The company's General Counsel, David Zapolsky, argued that the FTC had deviated from its mandate to protect consumers and competition.
The lawsuit also accuses Amazon of favouring its own brands over others, degrading search results with paid advertisements, and imposing hefty fees that consume a significant portion of sellers' revenues.
Furthermore, Amazon allegedly compels sellers to use its fulfilment service, Fulfillment by Amazon, to qualify for Amazon Prime, even if they prefer alternative fulfilment options.
<h3>Amazon's dominance in the market</h3>
Amazon's dominance in the e-commerce market, with an estimated 40% share, has drawn regulatory scrutiny. While there is speculation about the possibility of a forced breakup, the current focus is on liability.
Amazon has faced prior allegations of undercutting businesses that sell on its platform, which has led to calls for investigations into its market power. Also Watch: <a href="https://www.editorji.com/tech-news/consumers-sue-apple-and-amazon-for-allegedly-overcharging-for-iphones-and-ipads-1686400413855">Apple and Amazon face consumer lawsuit over alleged overcharging of iPhones and iPads</a>

Dr. Manmohan Singh's 91st Birthday: Manmohan Singh is a globally recognized economist and statesman who led India as Prime Minister from 2004 to 2014. Know about his pivotal economic reforms during his tenure.

Dr. Manmohan Singh 91st Birthday: 5 Pivotal economic reforms during his tenure as India's Finance Minister

Manmohan Singh's Birthday: Pivotal economic reforms during his tenure as India's FM

<h2>Born in 1932, Manmohan Singh is a globally recognized economist and statesman who led India as Prime Minister from 2004 to 2014. He also served as India's Finance Minister from 1991 to 1996.&nbsp;</h2>

Dr. Manmohan Singh, who celebrates his 91st birthday today, was India's 13th Prime Minister. Before he became PM, he served as India's finance minister from 1991 to 1996.
Here are 5 crucial reforms by the former Prime Minister (PM) and former Finance Minister (FM) of India.
1. Economic Reforms and Liberalization (1991):
Dr. Manmohan Singh, as the Finance Minister of India under Prime Minister P.V. Narasimha Rao, played a pivotal role in initiating economic reforms and liberalization in 1991. These reforms aimed to open up the Indian economy, reduce government control, and encourage foreign investment. They led to significant changes in India`s economic policies, which ultimately contributed to the country`s economic growth and globalisation.
<h3>2. Pradhan Mantri Gram Sadak Yojana (PMGSY) 2000</h3>
The Pradhan Mantri Gram Sadak Yojana (Prime Minister's Rural Roads Program) was initiated in the year 2000 when Dr. Manmohan Singh served as the Finance Minister. This initiative had the objective of offering all-weather road connectivity to rural regions, with the aim of fostering rural development and enhancing accessibility and connectivity.
Also read/watch: <a href="https://www.editorji.com/business-news/51-000-people-to-be-appointed-in-government-posts-under-rozgar-mela-today-1695706989769">51,000 people to be appointed in government posts under Rozgar Mela today</a>
<h3>3. Right to Information Act (RTI) (2005)</h3>
During Dr. Manmohan Singh's time in office, the RTI Act was enacted. This law gives citizens the right to request information from government agencies and institutions. This was a landmark piece of legislation aimed at enhancing transparency and accountability. 4. Member of World Trade Organization (WTO)
In the 1990s, India became a founding member of the WTO (World Trade Organization) and committed itself to multilateral rules of engagement in trade. India also began regional and bilateral trade agreements that supported the idea of a South Asian Free Trade Agreement and expressed interest in an India &ndash;Asian Free Trade Agreement (FTA).
Dr. Manmohan Singh's policies made India a leader of the South Asian Continent, however, it always faced challenges from China as it was an open economy and as a trading nation had a greater impact on India's political and economic policies.
Also read/watch: <a href="https://www.editorji.com/business-news/economy/2-000-notes-what-happens-after-the-september-30-deadline-1695650246009">₹2,000 notes: What happens after the September 30 deadline?</a>
<h3>5. National Rural Employment Guarantee Act (NREGA) (2005):</h3>
Dr. Manmohan Singh`s government introduced the National Rural Employment Guarantee Act in 2005, later renamed the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). This social welfare program aimed to provide a legal guarantee of at least 100 days of employment per year to rural households, thereby alleviating rural poverty and unemployment.&nbsp;

Amazon Great Indian Festival Sale 2023 to start from October 10. Check SBI and other banks credit and debit card offers and instant discount offers.

Amazon Great Indian Festival Sale 2023 to begin from October 10: Check SBI and Other Bank Offers

Amazon Great Indian Festival sale 2023: Exciting discounts to bank deals, all you need to know

<h2>Budget-friendly mobile prices will kick off at just Rs 5,299, featuring popular brands such as OnePlus, Samsung, Narzo, Mi, and more</h2>

Amazon Great Indian Festival 2023 Sale: Amazon is preparing for its Great Indian Festival sale, following in Flipkart's footsteps with the Big Billion Days Sales 2023. Amazon, like its rival, has not disclosed the dates for its Great Festival Sale 2023 but is teasing discounts on various products like electronics, fashion, home goods, mobiles, and smart TVs.
<h3>Amazon Great Indian Festival 2023 Sale: Upto 40% Off on Mobiles and Accessories</h3>
The Amazon Festive Sale is expected to offer a substantial 40% discount on mobiles and accessories. There's speculation that the Samsung Galaxy S23 FE might debut during this sale.
<h3>Amazon Great Indian Festival Sale 2023 Start Date</h3>
Reports suggest that the Amazon Great Indian Festival sale might commence on October 10, 2023. Amazon Prime members may get early access from midnight on October 9, 2023, as is customary.
Also Watch: <a href="https://www.editorji.com/business-news/flipkart-big-billion-days-2023-sale-to-start-from-september-28-check-icici-axis-and-other-banks-offers-1695802231416" target="_blank">Flipkart Big Billion Days 2023 Sale: Check out ICICI, Axis and Other Bank Offers</a>
<h3>Amazon Great Indian Festival 2023 Bank Offers: 10% Off for SBI Customers</h3>
SBI bank customers can look forward to an instant 10% discount when using SBI debit and credit cards for payment during the Amazon Great Indian sale.
<h3>Amazon Great Indian Festival 2023: Significant Discounts Across Categories</h3>
Anticipate substantial savings on laptops, smartwatches, appliances, and electronics, with discounts of up to 75%, according to Gadget30. Smart TVs and appliances may also see hefty discounts of up to 75%. Additionally, Amazon may offer discounts of up to 55% on products like Alexa devices, Fire TV, and Kindle.
<h3>Amazon Great Indian Festival 2023: Smooth Shopping Experience</h3>
To streamline the shopping process, customers can save their card details and update their delivery address before starting their Great Indian sale shopping spree.

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