Morning buzz: Unilever to cut soap prices in India, credit bureaus to inform consumers of changes, and more

Here are the top business headlines this morning, to get your day started

Published: Oct 27, 2023 10:03:08 AM IST

Unilever has said it plans to cut product prices in India in the soaps and laundry segment. Image: Sankhadeep Banerjee/NurPhoto via Getty Images

Unilever to cut prices in India

Unilever has said it plans to cut product prices in India in the soaps and laundry segment. This will allow the company to pass on the benefits of lower commodity costs as well as boost volumes. This also comes at a time when local competitors have grown faster than Hindustan Unilever. Local players include Challenge bar in Tamil Nadu, Saras in Gujarat and Toplex in Rajasthan.

(Economic Times, Business Standard)

Credit bureaus to inform consumers of changes

Credit bureaus will now be required to send SMS and email alerts to customers whenever their credit information is accessed by lenders. They will also be asked to provide one report for free to consumers every year. In addition, these companies will have to pay compensation at the rate of Rs 100 per day in case they delay updating or rectifying information based on a complaint. This will kick in 30 days after the complaint is received.

(Economic Times, BusienssLine)

Sebi plans new high-risk mutual funds for wealthy investors

The Securities and Exchange Borad of India (Sebi) is planning to propose a new category of mutual funds for affluent investors with a higher risk appetite. The proposed category will allow for investments in junk bonds as well as long-short strategies. These strategies are currently offered through portfolio management services and require a minimum investment of Rs 50 lakh. This new category will lower the investment amounts.

(Mint)

Onion prices up 50 percent in last 10 days

Onion prices have touched Rs 70 in several cities across India. This is primarily on account of erratic rainfall in Maharashtra. At the wholesale APMC markets prices were between Rs 40 and Rs 70 in cities. Traders expect prices to stabilise once the new crop comes in early December. In the interim the government is expected to release some stock from its godowns.

(Economic Times, Times of India, Financial Express)

India tops global crypto adoption rankings

The Olympic movement: How it's coming together for India