Indian

India’s financial sector faces challenging times ahead – RBI

Dec 29, 2020

The overall outlook for the Indian economy in 2021 continues to remain uncertain, the report said.“
Given the uncertainty induced by COVID-19 and its real economic impact, the asset quality of the banking system may deteriorate sharply going forward,” the RBI said.

The report also said Indian banks had written-off loans worth 2.38 trillion rupees ($32.46 billion) in the financial year 2020 that ended on March 31.

Retail auto sales weak in December due to lower discounts, farmers protest: Report

Dec 28, 2020

In the commercial vehicles space, it said the light commercial and intermediate commercial vehicle (LCV/ICV) segment is gaining momentum driven by demand for last-mile connectivity and rural demand.
It said that retail sales are expected to continue under pressure in the near-term owing to increase in vehicle prices and exhaustion in pent up demand.

Tesla to start operations in India next year

Dec 28, 2020

The first model to be launched will be Model 3, the cheapest among Tesla vehicles, with prices starting at over $74,739 (5.5 million Indian rupees),

Chief Executive Officer Elon Musk on Sunday confirmed India foray in 2021 in a reply on, but said it would not happen in January.

India reports six cases of new UK variant of coronavirus

Dec 28, 2020

All six patients have been kept in isolation, India’s health ministry said in a statement. “Their close contacts have also been put under quarantine,” the statement said.

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