38-year-old Zahir Shaikh from Pune shares his special story of friendship.
A mildly-spiced, sans too much garam masala 'hotel'-style potatoes with peas in a thick gravy that goes well with butter naans.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
Amid increasing popularity of virtual currencies in various parts of the world, the Reserve Bank of India (RBI) on Monday said it is open to exploring the possibility of a digital version of fiat currency. Host of private digital currencies, virtual currencies and cryptocurrencies have gained popularity in recent years, though Indian authorities continue to remain sceptical about them. "In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. "Nevertheless, the RBI is exploring the possibility as to whether there is a need for a digital version of fiat currency and in case there is, then how to operationalise it," the RBI said in its booklet on 'Payment Systems in India -- Journey in the Second Decade of the Millennium'.
Business is growing fast and continues to draw investment, but making big bucks in a country smitten with small cars won't be easy.
The German luxury car manufacturer is quietly building on the legacy of the Mini, enticing young, trend-conscious and quality-oriented buyers with the promise of making them stand out in the crowd.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
Chevrolet Spin will likely be powered by a Fiat-sourced 1.3L diesel engine
Jet, Kingfisher rebuff Praful Patel, budget carriers reduce fares. As of now, though, the two private airlines remain steadfast in their refusal to cut fares even as Patel's pleas acquire a hint of aggression.
Former RBI governor D Subbarao on Monday said there is a strong motivation for the central bank to launch a digital currency and cash is going to coexist with the new-age currency. Addressing an event virtually organised by economic think tank NCAER, Subbarao further said cybersecurity is also one of the downside risks of the Central Bank Digital Currency (CBDC). "There is a strong motivation for the RBI to launch CBDC... Cash is going to coexist with CBDC," he said.
Days after the government said the Reserve Bank will introduce a digital currency in 2022-23, Governor Shaktikanta Das on Thursday said the central bank does not want to rush and is carefully examining all aspects before introduction of the Central Bank Digital Currency (CBDC). He, however, declined to give any timeline for the launch of the CBDC. In her Budget 2022-23 speech, Finance Minister Nirmala Sitharaman had announced that the RBI will introduce a digital currency in the next financial year beginning April 2022 to boost the digital economy and for more efficient currency management.
The RBI has been repeatedly cautioning everyone about the usage of cryptocurrencies, flagging a slew of concerns.
Global automobile majors are looking to leverage India's cost-competitive manufacturing practices and turn the country into an export hub for utility vehicles.
A sharp fall in the price of Bitcoin and other cryptocurrencies is another hard blow to the already sinking cryptocurrency market in India. Global and domestic prices have been on a downward trail since November last year when Bitcoin prices hit a peak of close to $68,000 in international markets. The recent past has seen a much sharper fall in the price of the leading cryptocurrency, Bitcoin.
Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game.
Reserve Bank Governor Shaktikanta Das on Thursday said cryptocurrencies are a "threat to macroeconomic and financial stability" and cautioned investors against punting on them, days after the Union government's move to tax the gains made from cryptocurrency trades. In the Union Budget for 2022-23 presented in Parliament on February 1, the government proposed levying a 30 per cent tax on gains made on cryptocurrency trades by investors and the announcement was welcomed by cryptocurrency industry players, saying it legitimises their trades. Das invoked the 17th century 'tulip mania', widely considered to be the first financial bubble, to caution investors, saying the cryptocurrencies do not even possess the value of the exotic flower.
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency.
Spoilt for choice? More car brands heading this way.
'Rather than experimenting with CBDCs, we must come up with a very simple and straight design.' 'Dematerialise your currency/cash and with that dematerialised rupee allow all the transactions digitally.'
'I was exhausted, hungry, unshaven and despondent.' 'My mouth was full of sores due to dehydration.' 'My clothes were in tatters due to walking through bushes and sliding down thorny slopes,' Brigadier John Parshuram Dalvi wrote of his capture during the 1962 War.
General Motors HAS appointed Arvind Saxena, former Managing Director of Volkswagen Passenger Cars India, as the President & Managing Director of its Indian unit.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
The Carens is a warning for cars such as the Tata Safari, Hyundai Alcazar, Maruti Ertiga, Toyota Innova Crista and Mahindra XUV 700, because Kia punches much harder than others in its weight category.
From Fiat to Ford and Maruti to Hyundai, almost all carmakers are now opting to introduce a diesel car.
Ferrari, the Italian automobile giant, had launched its Magic India Discovery Drive in association with the Tata Group, in Mumbai on 25 February, 2008. The car featured in this tour is the 612 Scaglietti, Ferrari's flagship GT model. The car will cover 13220 kms, touching 57 cities in India for over 74 days. The tour will end on May 8, 2008. Apart from the Tata Group, this tour is sponsored by Fiat Automobile, Shell, Alcoa, Pirelli, Saima Avandero and OMR.
Chevrolet loses India on the map Why did GM's iconic all American brand mess up its chances in one of the fastest growing automobile markets?
Vintage car lovers were in for a treat on Sunday as four-wheelers from the past rolled down the streets of Mumbai's Bandra-Kurla complex. The event is one of the installments of the Mumbai Festival held by Things2do & Maharashtra tourism department, which is organising various events to boost the city's tourism and provide the best experiences to the Mumbaikars. This Vintage Drive in partnership with Vintage and Classic Car Club of India and Western India Automobile Association saw over 200 vintage cars and bikes participating in the event -- a 20-kilometre long stretch from BKC to Ballard Pier in south Mumbai. To kick off this event, Maharashtra Chief Minister Uddhav Thackeray rolled in with style, who drove himself to the venue. And from what we could see, the CM is an auto-enthusiast himself, taking in the sights.
Japanese automobile company Mitsubishi Motors may launch a compact car in the B segment in the country. The car is expected to hit the roads in three years. Though Mitsubishi sells Pajero SUV and Lancer sedan in India, they have not generated adequate volumes for the Japanese automobile company. The compact car will take on Maruti Swift, Hyundai Getz, Skoda Fabia, Fiat Palio, Chevrolet U-VA and Ford Fusion
The famous prancing horse is set to gallop across India. The world's foremost supercar maker, Ferrari, will kick off an arduous tour of the country - spanning more than 10 states and 13,000 kilometres - on Monday.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
Maserati, whose logo is modelled on the trident in the statue of Neptune in Bologna's Piazza Maggiore, was acquired by the Fiat Group in 2005.
High ground clearance, a wide cabin and tall stance all mean that the Carens glides over bad roads with ease and comfort and an engine performance that is adequate in terms of the power of this vehicle, says Pavan Lall.
Take the Rediff Biz Quiz and find out how much you know about India's automobile indutry.
India isn't a very popular sports car market, simply because whatever is on offer in the country is very expensive
The government is considering a provision to provide an exit window to holders of cryptocurrencies (cryptos), keeping in mind that banning them outright could deal a blow to investors sitting on them for years. According to sources in the government, the framework in the making may propose a grace period of three to six months for investors before prohibiting the possession, trading, mining, and issuing of cryptos. A group of secretaries chaired by the Cabinet secretary is learnt to have met in mid-March and discussed issues associated with cryptos, including the consequences of banning them and also on possible substitutes of blockchain technology - an advanced technology Bitcoin uses.
Zippy and comfortable, the Mini Convertible is a perfect car for short jaunts, but this isn't the ride you'd choose to take your entire family to the airport or pick for a long family excursion, says Pavan Lall.
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