In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The future of the GM tech in India is still uncertain.
Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
Automobile major, General Motors, on said that it would launch the electric version of its small car 'Spark' in the Indian market this year-end.
In a chat with Sohini Das, GM India president and managing director Karl Slym says, with the launch of the new compact car, Beat, and a positive response to the Cruze, GM plans to cross the 100,000-unit mark this year in sales.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
General Motors aims to grab at least 5 per cent market share in India within the next decade.
The metro rake which had only officials and engineers on board ran under the Hooghly from Kolkata to Howrah on the other side of the river.
General Motors India is in talks with the creditors Daewoo Motors India to acquire the car assembly unit of the failed carmaker and has set a timeframe to clinch the deal.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
Scientists at the Central Salt and Marine Chemicals Research Institute are working on a project to develop frost-tolerant varieties of bio-fuel bearing Jatropha plant for large-scale plantation in the US.
Toyota has capacity to manufacture 310,000 vehicles at its two plants located near Bengaluru
"We have so far invested $1 billion in India and there is no question of puting a cap on it", Karl Slym, president and managing director of India operations, told reporters in Bangalore after unveiling the SUV Chevrolet Captiva Automatic, a premium Sports Utility Vehicle and small car Spark Muzic Special Edition.
Deepa Gahlot picks 10 Web series that was worth the viewer's while.
It is the season of cooking and baking, but with Amul Butter in short supply, consumers aren't like the cat that got the cream. A shortage only means market shelves without butter on them. "There is a supply-side deficit. "We are now able to procure only two packs of butter a day, as opposed to three packs (each containing 30 packets of butter) in a day," says a salesman at Modern Bazaar, a departmental store in New Delhi's Greater Kailash.
"Out of the total sales, we feel that Chevrolet Spark would enjoy major share in total car sales for this year as small cars continue to have largest share in passengers cars market in the country," General Motors India Director (Operations) S Garg told reporters in Chandigarh on Friday.
Two wonderful recipes from Pratibha Karan's The Book Of Dals.
The CBI has closed a case against former Air India CMD Arvind Jadhav and others over alleged corruption in the appointments of general managers after the central government refused to grant its sanction to prosecute him, officials said. The agency had booked Jadhav, then general manager L P Nakhwa (now retired), and then additional general managers A Kathpalia, Amitabh Singh and Rohit Bhasin after a year-long preliminary enquiry, they said. It was alleged that Jadhav had constituted illegal/irregular promotion panel to recommend suitable candidates for promotion to the post of general manager (operations), they said.
Banks are also weighing the option of hiring experts for help in specialised areas.
The Narcotics Control Bureau on Tuesday claimed to have busted the "biggest" darknet-based LSD cartel operating in India with the seizure of more than 13,000 blots and Rs 26 lakh in cash and the arrest of three persons.
The Halol facility is projected to operate in three shifts to cater to production of LCV's and the automaker plans to hire new suppliers for it as well.
How President and Managing Director Karl Slym is steering General Motors India after its US parent filed for bankruptcy.
GM India said customers will be able to book the Trailblazer on Amazon.in only from October 21-25, at a reservation deposit of Rs 25,000.
General Motors India on Wednesday announced the launch of its new vehicle Chevrolet Tavera, a new generation premium multi-utility vehicle.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
After GM's India exit, Ford-Mahindra 'strategic alliance' under spotlight.
General Motors India on Wednesday said it was looking at phasing out some of its old models such as the Aveo and the Optra and replace these with new ones.
After the Covid-19 pandemic that derailed the economy since 2019, the Durga Puja festival in West Bengal is back with an estimated 20-30 per cent jump in festive spending. Retail sector is the key contributor to the state's Durga Puja economy which was Rs 32,377 crore in 2019, according to a British Council study conducted for the state government. Retail accounts for 85 per cent of the total puja economy and the rest is shared among pandal making, decoration, illumination, entertainment, advertisement, food & beverage and others.
General Motors India on Thursday cut prices of critical spare parts of two of its best selling models Chevrolet Optra and Tavera by as much as 26 to 52 per cent.
The Canada-based International Development Research Centre in collaboration with the Gene Campaign has launched a unique research study on the attitudes and perceptions towards crops and foods in India. IDRC has undertaken a similar study in China.
Aditya Vij, President and Managing Director, General Motors India, launched a special edition of Chevrolet Optra in New Delhi.
Gold was Rs 28,100 per 10 gm on July 26, 2014.
Karl Slym, president and managing director of General Motors India Private Limited, said the company would launch Chevrolet Cruze, its new offering in the Chevrolet Spark segment, by third quarter of its financial year ended December 2009. Slym added, "The car will be priced similar to Chevrolet Spark. As far as the minicar is concerned, we are not competing with Tata Motors' Nano, which is a different segment."
'Depicting the genocide of 3 lakh #KashmiriHindus cannot be called vulgar.'
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