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Auto Expo 2022 Postponed Citing Uncertainty Over COVID-19 Third Wave: SIAM

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SIAM has taken this decision after consulting automakers that are on the same page, given the fact that the biennial motor show is one of the largest Business to consumer (B2C) events and a mass gathering is expected, increasing the risk of virus spread.

The Society of Indian Automobile Manufacturers (SIAM) has announced postponement of Auto Expo 2022 citing concerns and uncertainty due to the anticipated third wave of the COVID-19 pandemic. The industry body has taken this decision after consulting automakers who are on the same page, given the fact that the biennial motor show is one of the largest Business to consumer (B2C) events and a mass gathering is expected, increasing the risk of virus spread. SIAM is yet to decide on a new date to conduct the auto show and it will be decided at a later date.

A statement issues by the industry body said, “Auto Expo – The Motor Show 2022 is currently scheduled from 2nd – 9th February 2022 at India Expo Mart in Greater Noida. Safety of Exhibitors, Visitors and all stakeholders involved and present at the Expo is the topmost priority for SIAM. It is in this context that the Indian Automobile Industry and SIAM recognises the inherent risks in organising the Auto Expo due to the on-going Covid-19 Pandemic and the apprehensions of a possible 3rd Wave. There is uncertainty around how COVID-19 would develop in the coming months and at the same time organising Auto Expo would need a lead time of preferably a year. Also Auto Expo is like a festival of celebration, for the Indian Automobile Industry and we look forward to receiving maximum people with no fear of spread of infection. The magnitude of the risk of spread of infection is extremely high in a B2C show like Auto Expo which is visited by large crowds and maintaining social distancing would be difficult. It has therefore been decided to postpone the Auto Expo – The Motor Show for now. The exact date for the next edition of Auto Expo – The Motor Show would be finalised later this year keeping in view the Covid situation and in alignment with the OICA Calendar of global Auto shows.”

The Auto Expo 2020 too concluded just a month before India reported the first COVID case and there were speculations whether SIAM will go with the event or not. Thankfully, the even happened and no COVID cases were recorded from the event, but few participants couldn’t participate as positive cases were recorded in their country. Then, the industry overall has been witnessing dwindling sales and revenue as both took a hit from the lockdown. So the auto sector is also facing a financial crunch and organising an event as big as the Auto Expo is a challenge, given the scenario.

Source : CarandBike

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Delhi: Najafgarh section on Grey Line opens on Saturday

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The Grey Line connects Dwarka to Najafgarh. The 891-metre-long Najafgarh-Dhansa Bus Stand section will take the Metro further into the interior areas of Najafgarh.

Image Courtesy : financialexpress.com

The Najafgarh-Dhansa Bus Stand section on the Grey Line of the Delhi Metro will be inaugurated Saturday. Passenger services on the section will commence at 5 pm on the same day. The Grey Line connects Dwarka to Najafgarh. The 891-metre-long Najafgarh-Dhansa Bus Stand section will take the Metro further into the interior areas of Najafgarh.

The section will be inaugurated via a video conference at 12.30 pm, by Union Minister for Housing and Urban Affairs Hardeep Singh Puri and Delhi Chief Minister Arvind Kejriwal. Transport Minister Kailash Gahlot and Union Minister of State for Housing and Urban Affairs, Kaushal Kishore, will also be present at the inauguration.

Source : Indian Express

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Delhi Cabinet Rejects the list of police for the farmer’s protest violence.

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Representative Image | Image Source : PTI

Delhi Cabinet, last Friday refused to approve Delhi Police’s list of special public prosecutors for appearing within the lawsuits associated with violence during the January 26 farmers’ protest.

It observed that the method won’t be fair and impartial if the lawyers of Delhi Police which is investigating the cases, were appointed. It had been decided that a panel of prosecutors appointed by the Aam Aadmi Party government will do the work.

In a separate decision, the Cabinet of New Delhi had also refused to offer its nod to a different panel of three lawyers recommended by Delhi Police for the northeast Delhi riot cases.

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SBI reduces its home loan interest rates to 6.7%

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Picture : SBI

State Bank of India (SBI), has launched a wreath of festive offers for home equity credit customers where offers are aimed to form home loans cheaper within the festive season. during an unparalleled initiative, SBI offers a credit score that is linked to home loans at just 6.70%, regardless of the loan amount.

Earlier a borrower availing of a loan greater than ?75 lakh, had to pay a rate of interest of 15%. With these new festive offers, a borrower can now avail of home equity credit for any amount at a low rate of 6.70%. The offer leads to a saving of 45 bps which translates to an enormous interest saving of quite Rs. 8 lakh, for a ?75 lakh loan with a 30-year tenure.

Earlier, the speed of interest applicable for a non-salaried borrower was 15 bps above the rate of interest applicable to a salaried borrower, in this festive offer SBI has removed its dissimilarity between a salaried and a non-salaried employee.

Now, there’s no occupation-linked interest premium being charged to prospective home equity credit borrowers. this is able to cause an extra interest saving of 15 bps to non-salaried borrowers.

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