Sector: Auto
Bajaj Auto applies for new NBFC
Bajaj Auto (BAL) has sought RBI approval for setting up a new NBFC. The application is currently under consideration by the regulator. The proposed NBFC is for captive financing of Company’s two wheelers and three wheelers. Currently more than 40% of BAL’s vehicles get financed by Bajaj Finance (BFL, the group company), which in turn … Read more
GST Council likely to define MUVs and XUVs for levy of 22% cess: Report
Currently, such imports attract 5 per cent or 12 per cent IGST The GST Council is likely to clarify on the definition of multi utility vehicles (MUVs) and crossover utility vehicles (XUVs) for levy of 22 per cent compensation cess over and above the 28 per cent GST rate, sources said. The Council is expected … Read more
US Prez Joe Biden’s $400 billion man
Jigar Shah is living an investor’s dream, one with more strings attached than a symphony orchestra. Shah has $400 billion of government funds to pour into businesses touting green-energy projects. But he has to do it under the eye of critical lawmakers, cautious bureaucrats and the White House, which has already clashed with him on … Read more
Triumph’s Speed 400 and Scrambler 400 X unveiled, India-launch on July 5
Britain’s iconic motorcycle manufacturer, Triumph, has unveiled the first two Made-in-India, Triumph Speed 400 and Scrambler 400 X bikes. These bikes have been developed in a collaboration between the British Triumph and India’s Bajaj Auto. The bikes will be built at Bajaj’s Chakan facility in Maharashtra. The two bikes, Speed 400 and Scrambler 400X, appear … Read more
Riding on rising demand for CNG vehicles, Tata aims to double its sales
Tata Motors is planning to double the share of CNG vehicles in its overall sales in the financial year 2023-24, an ETAuto report said. This comes on the back of healthy consumer demand for CNG vehicles, which have grown in popularity because of the high prices of petrol and diesel. Moreover, an increase in the … Read more
Centre planning to stop subsidies of firms found violating FAME-II norms
The companies that have been found wrongfully claiming subsidies under the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme may be debarred from availing of them in the future and may also have to forego sops on electric vehicles (EVs) sold in the last 15 months, The Economic Times (ET) reported on Tuesday. The … Read more