New E-commerce Rules : Provides Clarity on Responsibilities of Marketplaces, Sellers

E-commerce

Highlights :

New E-commerce Rules : Provides Clarity on Responsibilities of Marketplaces, Sellers
It will be applicable to all electronic retailers offering goods and services to Indian consumers.
Violation of rules will attract penal action.

New rules for E-commerce entities, including mandatory display of 'country of origin' on products, provides clarity on the responsibilities of marketplaces as well as the sellers & will enhance protection for buyers.

It will be applicable to all electronic retailers (e-tailers) registered in India or abroad, but offering goods and services to Indian consumers.

Violation of rules will attract penal action under the Consumer Protection Act, 2019.

Sellers are now mandated to take responsibility for goods and services that are defective, deficient or spurious and cannot refuse to take back such goods, the Internet and Mobile Association of India (IAMAI) said.

The new rules also mandate that the marketplaces as well as sellers would be required to have grievance officer who have to respond in a time-bound manner.

E-commerce players have to display details about Return, Refund, Exchange, Warranty and Guarantee, Delivery and Shipment, Mode of Payment and Grievance Redressal Mechanism and any other similar information that may be required by consumers to make INFORMED DECISIONS.

Comments

Tata Group : details

TATA GROUP : Tata Group is an Indian multinational conglomerate holding company headquartered in Mumbai, Maharashtra, India. Founded in 1868 by Jamsetji Tata, the company gain international recognition after purchasing several global companies. Each Tata Company operates independently under the guidance and supervision of its own Board of Directors and it's shareholders. RATAN TATA : Ratan Naval Tata is an Indian industrialist, philantropist, and a former chairman of Tata Group. He is the recipient of two of the highest civilian award of India Padma Vibhushan and Padma Bhushan. He is well known for his business ethics and philanthropy.

Silver Lake to invest ₹ 5,655.75 crore in Reliance Jio

Silver Lake and Jio Silver Lake to invest ₹ 5,655.75 crore in Reliance Jio US private equity firm, Silver Lake will invest ₹ 5,655.75 crore in JIO platforms for a 1.15% stake at an equity value of ₹ 4.50 lakh crore. Jio platforms is wholly-owned subsidiary of Reliance Industries Ltd, focused on next generation technologies. It provides connectivity platforms to about 388 million subscribers. Less than 2 weeks before, Facebook said it would acquire 9.9% stake in JIO platforms for ₹ 43,574 crore. Fb and Jio About Silver Lake : Founded in 1999, Silver Lake is a pioneer in technology investing. Today Silver Lake's portfolio of investment collectively generates more than 204 billion dollars of revenue annually and employs more than 356,000 people globally.

Vistara announces Leave Without Pay for Senior Employees in May, June

Vistara Airlines As a measure to preserve jobs and conserve cash flow, Vistara airline on Tuesday decided to send its senior employees on leave without pay for the month of May and June. It will affect around 1,200 employees in senior grade. Earlier the airline has sent its employees on compulsory leave without pay for 3 days between April 15 and April 30. The exercise was carried out at 3 levels : The first grade was to take three days leave without pay. The second grade was to take two days leave with no pay. The third grade had to take one day leave without pay. Also the monthly base flying allowance for pilots has been reduced to 20 hours per month from 70 hours per month for the month of May and June. About Vistara : Vistara is joint venture of Tata Sons Private Limited and Singapore Airlines Limited ( SIA ) wherein Tata Sons holds 51% stake in partnership and Singapore Airline owns 45% stake. The company is registered as TATA...

The SALE OF GOODS ACT, 1930

Contract of Sale Contract of Sale of goods is a contract whereby the seller transfers or agree to transfer the property or ownership in goods to the buyer for a price. Contract of Sale includes both a sale and an agreement to sell. ESSENTIAL ELEMENTS :- 1. Two parties 2. Goods 3. Transfer of property 4. Price 5. Essential elements of a valid contract TYPES OF GOODS:- 1. Existing goods 2. Future goods 3. Contingent goods 1. Existing goods :- Existing goods are those goods which are existing at the time of contract of sale. Existing goods are of three types i.e, Specific goods , Ascertain goods, and Unascertain goods. 2. Future goods :- Future goods are those goods which are not existing at the time of contract to sale. Future goods are to be manufactured or produced after the contract of sale is made. 3. Contingent goods :- Contingent goods are those goods which are based on uncertain events. For example, a ship is coming from Un...

Hat-trick for JIO Platforms : Vista to Invest Rs 11,367 crore

Vista - Jio HIGHLIGHTS : Vista will invest Rs 11,367 crore into JIO platforms at an equity value of Rs 4.91 Lakh Crore It translate into 2.32 % Equity Share in JIO Platforms JIO Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than 3 weeks. In a Media Release, JIO Platform Limited announced today that Vista will invest Rs 11,367 crore into JIO Platforms. This investment will translate into 2.32% equity share in JIO Platforms on a fully diluted basis. It makes Vista the largest investor in JIO Platforms behind Reliance Industries and Facebook. JIO Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks. Facebook invested Rs 43,574 crore in JIO Platforms for 9.99% stake . Silver Lake invested Rs 5,655 crore in JIO Platforms for 1.15% stake. Now, Vista to invest Rs 11,300 crore in JIO Platforms for 2.32% stake. About Vista : Vi...

PRODUCT PLANNING AND MANAGEMENT

After reading this blog, you will be able to understand : Concept of Product Levels of Product Classification of Product Management of Product Line Extensions Product Planning and Development Product is anything that can be offered to a market to satisfy a want or need. PRODUCT CONCEPT : The Product Concept assumes that consumers will buy the product that offers them the highest quality , the best performance and the most features . PRODUCT LEVEL : The most fundamental level is the core benefit : the fundamental service or benefit that the customer is really buying. Example : A hotel guest is buying " rest and sleep ". The purchaser of a drill is buying " holes ". At the second level , the marketer has to turn the core benefit into a basic product. Thus, a hotel room includes a bed, bathroom, towels, desks, etc. At the third level , the marketer prepares an expected product, a set of attr...

BPCL holds 62 patents; 68 more innovations awaiting approval

BPCL Highlights : BPCL holds 62 patents, 68 more awaiting approval Filing 5-6 patents within the next one month BPCL is the third company in the world to have such a technology B harat's Petroleum Corporate Research and Development Centre CRDC, has bagged as many as 62 patents since it's inception 19 years ago and is awaiting 68 more. Of the total patented innovations, around 20 are already commercialised and deployed at various BPCL facilities. Within the next one month they will be filing for 5-6 patents as well. The centre, with an annual budget of ₹ 80-100 crores , has published 141 research articles and it's innovations are citied in five Books. CRDC , recognised by the Department of Scientific and Industrial Research,has been set up with a mission to transform ideas into innovations. BPCL is the third company in the world after Exxon Mobil and Chevron to have such a technology. About BPCL : Bharat Petroleum Corporation Limited, BPCL is an Indian government c...

Tata Starbucks resumed Services

Tata Starbucks Tata Starbucks said that is has resumed it's take away and home delivery services in selected stores in eight cities. Amid the lockdown, Tata Starbucks is beginning the process of re-opening responsibly and serving its customers in multiple ways under modified operations, including re-launch of its much awaited takeaway service, the company said in a statement. The cities are Mumbai, Pune, New Delhi, Gurugram, Bengaluru, Chennai, Kolkata and Surat. "We are glad to be back with our authentic Starbucks Experience for our beloved customers through take away and online deliveries. At Tata Starbucks, the safety of our partners (employees) and customers is our top priority, and we have multiple measures to ensure a safe environment for them. We are also closely monitoring the health situation with local authorities," it said. Tata Starbucks has taken a slew of precautionary measures in its operational stores, which includes temperature checks of bar...

Think Long Term | Jeff Bezos

Think Long Term | Jeff Bezos Once, when asked about Amazon's revenue growth, Bezos couldn't even remember the exact growth percentage, something rare for a CEO. When asked, why he didn't know,he said : " I'm thinking a few years out. I've already forgotten those numbers." Amazon retail has been around since 1994. Remember those computers and the very early days of the internet? Bezos knew back then that people would be buying products of it . He has said that those days were some of his most difficult. He was trying to raise $1 million to get Amazon off the ground. But getting that $1 million was incredibly difficult. He said he talked to 60 people, and 22 gave him $50K . Why was it so difficult? People didn't know what the internet was? Bezos said "the first question most of those investors had was ' what's the internet? ' ." Think about that - most people didn't know what the internet was. Bezos did , and he knew p...

You Can Defeat Corona Virus

CORONA TIPS :- If you want to defeat Corona Virus and want to live a normal life as before then Daily take sunlight☀️ for about 15 minutes before 11 am Why ? Because in the past when there were no medicines, then sunlight was the only medicine. Believe it, every diseases can be cured by sunlight. Even cancer can be treated by taking sunlight for 15 minutes everyday. #we_will_win Corona Virus you will Die.. We will Win.. * This blog is written on the basis of a video which the author has watched on YouTube.

Business World

Search This Blog