Consumer Issues
Reliance stops retailing all noodle brands
Reliance Industries has decided to temporarily withdraw all brands of instant noodles from its retail stores across India due, primarly, to health concerns.
 
Sources in the company said the step of going beyond a piecemeal approach of being selective in removing just spme selected brands was based on the wellbeing of customers, while also looking at the interests of the 11 partners of the company whose noodles are stocked in its stores.
 
"We believe that the uncertainty is unwarranted and undeserved. But it merits the launch of a robust, nationwide process of reassuring ourselves and serve our valued stakeholders," said Damodar Mall, Reliance Retail's chief executive of value formats in consumer business.
 
Company sources said these brands had already been removed from the shelves and returned to the distribution centres, labeled as 'Not For Sale'. Designated food safety officers had been duly informed, they said, adding they wanted to remain 100 percent compliant with the norms.
 
The action comes against the backdrop of Nestle being ordered by the Food Safety and Standards Authority of India to withdraw all nine variants of Maggi noodles, and stop its production and exports.
 
Reliance Retail runs over 2,620 stores across 200 cities in India.

User

Seshasayee appointed non-executive chairman of Infosys
Indian IT bellwether Infosys Ltd on Friday announced Ramaswami Seshasayee has been appointed as its non-executive chairman in place of K.V Kamath, who stepped down from the post following his nomination as president of the $50 billion BRICS' development bank.
 
"The company's board unanimously approved appointment of Seshasayee as non-executive chairman of the board with immediate effect," the global software major said in a statement here.
 
Seshasayee, 67, has been an independent director on the company's board since January 2011 and is chairperson of the audit committee.
 
"The board has made the most appropriate choice in nominating Seshasayee as my successor, given his vast and varied experience in leading large public companies and his strong contribution to Infosys, during the last four years of his association. Infosys will benefit greatly from his sagacity," Kamath said.
 
Seshasayee is also the non-executive vice-chairman of Ashok Leyland Ltd in Chennai and chairman of IndusInd Bank Ltd in Mumbai.
 
"Infosys is an iconic company and I am thankful to Kamath and the board for entrusting me with this privilege," Seshasayee said.
 
To devote requisite time and attention to the new responsibility, the new chairman plans to substantially disengage from his other responsibilities in due course.
 
"I look forward to working closely with the board and management team as we navigate this period of transformation for the company," Seshasayee added.
 
Infosys chief executive Vishal Sikka thanked Kamath for his contribution to the company and wished him best.
 
"Kamath has been a great mentor to me personally and I look forward to his continued guidance as a well-wisher of this company," he said.
 
Welcoming Seshasayee's appointment, Sikka said he was excited to work with him to accelerate the company's plans for the future.

User

What prompts us to help others?
Ever wondered why we often help others even without expecting anything in return? That could be thanks to simple biological mechanisms that have evolved to keep a group of individuals cohesive, says a new study.
 
"We would not hesitate about helping an older person trying to cross the road. This type of actions is called pro-social behaviour," said researcher Cristina Marquez from Champalimaud Centre for the Unknown, Lisbon, Portugal.
 
The researchers studied rats' behaviour to observe pro-social decisions under laboratory conditions.
 
The researchers emphasised that the kind of behaviour they studied was different from altruistic acts, which involve a sacrifice, or a cost, to the helper.
 
"In our experiment, we assigned a pair of rats different roles. One was the Helper and the other was the Partner. The Helper was free to make one of two choices."
 
"The selfish choice: Opening a door where a food reward was given only to itself. Or a pro-social choice: Opening another door, where both rats received a food reward," Marquez said.
 
The Helper received an identical reward regardless of whether it made a pro-social, or a selfish choice.
 
The researchers found that the majority of rats favoured pro-social choices.
 
"The rats in the role of the Helper would make the choice leading to a food reward to the other about 70 percent of the time. Of the 15 rats we tested, only one made selfish choices consistently," Marquez said.
 
Even though the Partner was not able to control the opening of the doors, it was able to demonstrate its preference towards one of them, a factor the researchers revealed to be a crucial one.
 
Do these observations mean that rats share the higher values of humans, or that humans share some basic socio-biological mechanisms with rats?
 
"Pro-sociality is beneficial in many situations, for both humans and rats. Simple biological mechanisms such as a positive feeling when a group member receives a reward, or being sensitive to attempts of others to achieve a goal, may benefit the individual," said study leader Marta Moita.
 
"Humans are extremely social and we are also extremely confabulatory. So it is possible that the stories we construct about the motives to our social actions could also be explained by biological mechanisms that have evolved to keep a group of individuals cohesive," Moita said.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)