NBFCs see demand rising for used-vehicle financing

Non-banking financial companies (NBFCs) are seeing a rise in demand for used vehicle financing amid Covid. The pandemicdriven preference for owning second and third cars in households, upgrades by two-wheeler owners to preowned cars and lower cost of used vehicles are some primary reasons for the spike in demand for used vehicles. NBFCs offering loans … Read more

SEBI bans six persons from securities market in IIFL Group front running case

SEBI noted that these persons were front running the trades of six entities of IIFL Group, including IIFL Asset Management, also called Big ‘Clients’. SEBI noted that these persons were front running the trades of six entities of IIFL Group, including IIFL Asset Management, also called Big ‘Clients’. The Securities and Exchange Board of India … Read more

Tesla To Cut 10% Staff, Pauses All Hiring, Says Elon Musk

The world’s richest man and chief executive of Tesla Elon Musk has said that the electric car maker is going to reduce its staff strength by 10% and also he had a super bad feeling about the world economy. An internal email which was titled “pause all hiring worldwide,” was sent to Tesla executives on … Read more

Sheryl Sandberg, longtime No. 2 exec at Facebook, steps down

Ms. Sandberg has led Facebook — now Meta’s — advertising business and was responsible for nurturing it from its infancy Sheryl Sandberg, the No. 2 executive at Facebook owner Meta, is stepping down, according to a post on Wednesday on her Facebook page. Ms. Sandberg has served as chief operating officer at the social media … Read more

Mandatory 6 airbags to hit small car market adversely, says Maruti

Maruti Suzuki India (MSI) wants the government to reconsider the proposal to make six airbags mandatory in passenger vehicles, saying the norm will adversely hit the already shrinking small car market and may even impact jobs in the auto sector going ahead.   The auto major noted that the regulation would largely impact the cost-sensitive … Read more

Amul Forays Into Organic Wheat; To Launch Pulses, Rice Next

Gujarat Co-operative Milk Marketing Federation Limited (GCMMF) that sells products under the Amul brand has forayed into organic whole wheat flour, and plans to expand the range to include organic pulses and rice, the cooperative said on Saturday. “The prime objective of launching Organic Atta is to help our customers embark on a mission to … Read more

Indi Energy bets on locally-developed sodium-ion battery technology to win EV race

‘Batteries are developed using agro-waste such as rice straw and cattle manure’ Indi Energy, a start-up working on battery technology, said its indigenously developed Sodium-ion batteries are the answer to curbing the cases of fire accidents involving electric vehicles (EVs) in the country. “We believe in a sustainable tomorrow and with this vision, we have … Read more