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New Delhi [India], June 6 (ANI): The Automobile industry has supported the Reserve Bank of India's rate-cut decision, and they believe that this decision will add positive sentiment among consumers in the market. On Friday, the RBI reduced the repo rate by 50 basis points to 5.5 per cent. The central bank also cut the Cash Reserve Ratio (CRR) by 100 basis points to 3 per cent. The CRR cut will be implemented starting September 6, in four tranches of 25 basis points each in four fortnights. The ...Read More >
New Delhi, Jun 6 (PTI) The decision of the Reserve Bank to cut policy rate by 50 basis points will have a positive impact on the automobile sector as it will make loans cheaper, industry body SIAM said on Friday. The RBI on Friday cut repo rate by a higher-than-expected 50 basis points to prop up growth, which has slowed to a four-year low of 6.5 per cent in FY25. Following the rate cut, the key policy rate eased to a three-year low of 5.5 per cent, providing relief to home, auto and corporate ...Read More >
NEW DELHI: Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of the Mahindra Group, has reported net consolidated loss after tax of Rs 22.47 crore during the quarter ended December 31, 2024. It had registered profit after tax of Rs 50.02 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 185.77 crore in Q3 FY25, a growth of 109.27 per cent from Rs 88.77 c ...Read More >
New Delhi, Jan 17 (PTI) IT service provider Tech Mahindra on Friday announced the opening of an advanced Manufacturing Experience Centre at its Chennai campus. The centre was inaugurated by Mahindra Group chairman Anand Mahindra and Tech Mahindra CEO Mohit Joshi, according to a company statement. The centre will help manufacturers to quickly prototype and scale AI-based innovations to tackle industry issues like high operational expenses, inefficiencies in processes, supply chain disruptions, ...Read More >
New Delhi Jan 8 (PTI) India must get into frontier work in artificial intelligence and build foundational models, but investment is a real entry barrier and just one mathematical breakthrough can change entire dynamics, Microsoft Chairman and CEO Satya Nadella said here on Wednesday. During his second day of Microsoft India AI Tour, Nadella said that India can do great work in the area of Indic languages and transforming its industries using artificial intelligence. "There's no reason why Indi ...Read More >
New Delhi [India], December 3 (ANI): The automobile company Mahindra Electric Automobile Limited (MEAL) on Tuesday clarified its position on the lawsuit filed by IndiGo Airlines regarding the use of "6E" for its recently unveiled electric vehicle in the SUV segment. A spokesperson for the company stated that Mahindra does not see a conflict, as its mark is "BE 6e," not the standalone "6E," which IndiGo uses as its registered call sign under airline services. According to an Economic Times repo ...Read More >
The criticism followed the launch of Mahindra's new electric vehicle range, including the BE6e and XEV 9e. Anand Mahindra, chairman of the Mahindra Group, has responded to a critical tweet targeting the company's car designs, service quality, and reliability, even comparing it unfavourably to competitors like Hyundai. This came after Mahindra launched its new electric vehicle range, the BE6e and XEV 9e. The scathing X post, in part, read, "Every single product of yours is for those who don't s ...Read More >
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