MAM
Education, healthcare topped list of misleading ads in 2020: ASCI
MUMBAI: Advertising Standards Council of India (ASCI) has said that the third quarter of 2020 witnessed a surge in number of consumer complaints after an initiative driven quarter by the Ad industry regulator to increase consumer awareness.
Between October and December, the ASCI team received 1,885 complaints originating from 1,230 advertisements, the regulatory body said in its Complaints Analysis Report – Q3 FY (2020-21). It noted that the Industry focused initiatives it led for consumer protection and streamlining of processes for effective self-regulatory practices had had a high impact.
251 of the 1,230 advertisements were either withdrawn or amended by the advertisers on receipt of communication from ASCI. From the remaining advertisements, ASCI’s independent Consumer Complaints Council (CCC) upheld complaints against 902 advertisements. Of these, a whopping 582 or almost 65 per cent ads belonged to the education sector and 128 from healthcare, 64 from food and beverages, 25 from personal care, 99 from other categories. Complaints against 77 advertisements were not upheld as these advertisements were not found to be in violation of the ASCI code.
Some of the key themes of false claims or code violations that emerged during the quarter October-December were:
– Education ads with false claims of job guarantees, placements, etc.
-Healthcare ads with false claims about Covid2019 cures and preventions advertising.
Other complaints included those against brands issuing comparative advertisements while prominent cases against honey brands were also in the spotlight. During the third quarter, complaints regarding surrogate advertising also picked up post the IPL.
In October 2020, ASCI introduced the Covid2019 advisory for advertisers, to protect consumers from being misled during the pandemic. Soon after, in November 2020, ASCI introduced guidelines for online gaming for “real-money winnings”, to protect audiences from risks associated with games involving real money. The guidelines received much appreciation and backing from the ministry of information and broadcasting. Earlier in 2020, the council had also introduced guidelines for usage of awards/rankings in advertisements by brands. Early September, it expanded its national Advertising Monitoring Service (NAMS) to add digital advertising to its suo motu screening. More than 3,000 digital platforms are being currently tracked by the regulatory body.
The initiatives sparked conversations in the media, on social media and various other forums, which further helped drive consumer education and awareness. Additional impact of the constant buzz on various channels was the spike in the number of complaints processed by ASCI for the quarter.
Overall in 2020, ASCI looked into 6,527 complaints that were registered against 3,315 advertisements, of which 2,357 were upheld. Education (1,062) and healthcare (827) topped the list for the year as well. Some of the numbers for other categories, 117 food and beverage advertisements were complained, 63 against personal care, 17 violations of guidelines for brand extension, 22 against real estate, 10 against visa and immigration services and 239 against ads from other categories.
ASCI secretary general Manisha Kapoor said: “The third quarter of the financial year involved initiatives leading to positive impact on the industry and stakeholders. The quarter recorded the highest numbers in terms of complaints processing, compared to the previous two quarters which were a direct outcome of the pandemic. We hope to continue this momentum in the year ahead.”
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
