ONE VEHICLE ONE FASTAG
Volvo to launch only EVs in India, plans one new car every year
Swedish luxury carmaker Volvo Cars plans to exclusively launch electric vehicles in India after 2030. Volvo aims to introduce one new electric vehicle annually, starting with the EC30 in 2025. The market for electric cars in India, though currently small, is growing rapidly. Volvo holds a significant share in the luxury EV segment in India and sees potential for further growth in the country's luxury vehicle market.
How one of the world's strongest car unions is dealing with EV job losses
Toyota in Japan and Hyundai or Kia in South Korea navigate challenges from technological transformation and electrification.
One Flew Over the Faux Coup's Next
When a leader fakes a coup against himself, you gotta respect his desperation
Waymo robotaxi service opens to all in San Francisco
The Google-owned Waymo robotaxi service on Tuesday became available to anyone in San Francisco interested in hailing a driverless ride. Waymo One ride-hailing is now available in San Francisco, Los Angeles, and Phoenix, with plans to "ramp up" in Austin next.
ISRO's rocket body re-enters earth's atmosphere, complies with international guidelines
ISRO announced that the cryogenic upper stage of the LVM3 M3/OneWeb India-2 mission has re-entered Earth's atmosphere. The stage, left in a 450 km orbit after launching 36 OneWeb satellites on March 26, 2023, was passivated to minimize risks. It re-entered over the Indian Ocean around 14:55 UTC on June 14.
Paytm Bank slows down in Fastag lane; q-comm in soup over food safety
Happy Friday! Banks are gaining ground in the toll payments space as Paytm Payments Bank’s market share continues to plummet. This and more in today’s Morning Dispatch.
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Paytm lays off employees as part of restructuring, facilitates outplacement support
Paytm's sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank.
Utpal Sheth on key megatrends that can shape India's future growth
“Even one megatrend will create multiple types of opportunities, multiple types of companies and business models that you will be able to participate in. I think the way the financial savings in the country will get channelised will be another megatrend,” says the CEO of Rare Enterprises.
China protests Modi’s response to Taiwanese President’s congratulatory message
China protests India over PM Modi's response to Taiwanese President's message. Modi thanked Lai Ching-te for his warm message, aiming for closer ties. Chinese President is the only P-5 leader yet to congratulate Modi.
Startups seek support, policy continuity from new govt
As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
SAMIL management on growth outlook, company performance and more
The overall market has about 90 million vehicles, which is around pre-COVID levels. However, when broken down by region, Europe and America are still 10-15% below pre-COVID levels, while India and China have ramped up beyond pre-COVID levels.
Paytm shares jump another 5% despite denying talks with Adani
Paytm shares rose 5% amid reports of deal talks between Paytm CEO and billionaire. Shares hit upper circuit limit despite company's denial of discussions.
Adani's fintech play: Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co
Gautam Adani, chairman of the Adani Group, is reportedly looking into acquiring a stake in One97 Communications, the parent company of Paytm, according to sources cited by The Times of India. Paytm's founder and CEO, Vijay Shekhar Sharma, met with Adani in Ahmedabad to discuss the details of the potential deal.
Adani effect! Paytm shares jump 5% on deal talks between Vijay Shekhar Sharma and Gautam Adani
Shares of Paytm surged 5% as Gautam Adani considers investing in the company. Paytm founder met Adani to discuss a potential deal. Adani is also seeking investments from West Asian funds for Paytm, facing challenges after RBI restrictions.
360 ONE Prime to raise Rs 500 crore through NCD, effective yields may go up to 9.8%
360 One Prime on Friday opened its second tranche of fund raising of Rs 500 crore through the issue of non-convertible debentures (NCD) which might effectively yield 9.2% to 9.86% p.a. The issue will be closed on June 6.
Indian Army sets up one of world's highest tank repair facilities near China border
The Indian Army has established two of the world's highest tank repair facilities in Eastern Ladakh, near the China border, at altitudes over 14,500 feet. These facilities, located in Nyoma and the DBO Sector, support over 500 tanks and infantry combat vehicles deployed following the 2020 India-China standoff. These new Medium Maintenance (Reset) Facilities ensure the operational readiness of armoured vehicles in extreme conditions, with temperatures plummeting to minus 40 degrees. This strategic infrastructure enhances serviceability and mission reliability in the world's highest battlefield.
Green career path looks promising but remember that it is a nascent industry
The green job sector is rapidly expanding with numerous growth opportunities, but also presents challenges due to its nascent stage. Individuals must navigate issues like evolving landscapes, skill gaps, and market fluctuations. Strategies include pursuing relevant education, upskilling, leveraging AI, networking, and remaining adaptable to excel in this dynamic industry.
Switching to green careers: A quick guide to skills and strategies for a smooth transition
Rising demand for sustainability roles prompts a shift towards green careers. Industry experts emphasize understanding required skills and pay structures. Key roles include wind turbine technicians, ESG analysts, and energy specialists. Acquiring skills like carbon accounting and climate action planning is crucial for success.
NHAI likely to extend FASTag KYC compliance deadline by one month: Sources
The National Highways Authority of India (NHAI) has extended the Know Your Customer (KYC) compliance deadline for FASTags, aiming to streamline electronic toll collection. NHAI introduces the 'One Vehicle, One FASTag' initiative to boost efficiency, discouraging the use of a single FASTag for multiple vehicles. NHAI emphasizes adherence to the initiative to ensure seamless toll operations and convenience for users. Users can update their FASTag KYC through the official website or their respective bank portals.
FASTag, NPS, credit card, debit card, insurance rule changes: Major money changes from April 1
Money rule changes in April: Let's see major financial changes and new norms that will come into effect from April 1, 2024. Changes include insurance rules, FASTag, NPS, credit cards, debit cards and more
One Vehicle, One FASTag implemented; 9 important things all FASTag users should know
FASTag KYC: "NHAI has taken this initiative after the recent reports of multiple FASTags being issued for a particular vehicle and FASTags being issued without KYC in violation of RBI’s mandate," stated a PIB release.
'One Vehicle, One FASTag' norm comes into force
The National Highways Authority of India (NHAI) has implemented the 'One Vehicle, One FASTag' rule to deter the use of a single FASTag for multiple vehicles. Effective from April 1, users with multiple FASTags for one vehicle won't be able to use them all. FASTag ensures seamless toll payments using RFID technology.
NHAI gives one-month extension to FASTag users to comply with the KYC norms
The National Highways Authority of India (NHAI) has extended the compliance deadline for the 'One Vehicle, One FASTag' initiative to March-end, providing an additional month for FASTag users to complete know-your-customer (KYC) norms. The extension aims to address issues faced by Paytm FASTag users who are already grappling with getting new FASTags following RBI's announcement that they will become non-functional after March 15.
Paytm Fastag: Here's why Feb 29th probably won't be the last date to update your KYC details
The National Highways Authority of India (NHAI) is considering extending the deadline for the 'One Vehicle, One FASTag' initiative compliance to March-end, following issues faced by Paytm FASTag users. Initially set for February 29, the deadline extension would also apply to completing FASTag KYC. NHAI introduced the initiative to improve toll collection efficiency and discourage misuse. In a related development, the RBI advised Paytm Payments Bank Ltd customers to transfer their accounts by March 15 but assured no restrictions on withdrawals or fund utilization until balances are exhausted.
NHAI likely to extend deadline for 'One Vehicle, One FASTag' initiative till March-end
NHAI is likely to extend the 'One Vehicle, One FASTag' compliance deadline due to the Patym crisis. RBI has advised PPBL customers to shift accounts by March 15, allowing withdrawal or utilization of balances.
What is the last date to update FASTag KYC
After completing the KYC procedure, residents will be immediately connected to the One Vehicle, One FASTag initiative.
FASTags with inadequate KYC to be deactivated after January 31, 2024: Here is how to update
Banks will deactivate or blacklist FASTags with a legitimate balance but inadequate KYC after January 31, 2024. Here is how to do KYC for FASTag.
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