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Amazon CEO Jeff Bezos drives e-rickshaw; video goes viral

“Hey, India. We’re rolling out our new fleet of electric delivery rickshaws. Fully electric. Zero carbon. #ClimatePledge,” Bezos tweeted along with the video.

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Jeff Bezos in E-Rickshaw

New Delhi, Jan 20 : Amazon Founder and CEO Jeff Bezos on Monday posted a video on his official twitter handle in which he drove an e-rickshaw with Amazon’s delivery partners.

Taking a Climate Pledge, the video by Bezos revealed that Amazon is rolling out its new fleet of fully electric delivery rickshaws.

“Hey, India. We’re rolling out our new fleet of electric delivery rickshaws. Fully electric. Zero carbon. #ClimatePledge,” Bezos tweeted along with the video.

The video showing Bezos driving an e-rickshaw, carried his first name — JEFF. The post garnered 2.8K retweets and 16.4K likes.

Electric cars have several benefits over conventional engine as they do not emit harmful tailpipe pollutants such as soot, volatile organic compounds, hydrocarbons, carbon monoxide, ozone, lead, & various oxides.

A user said “Hey Jeff – I’d love to be able to pilot this in the States.”

Another tweeted, “Solar power grids that are being installed. Better to use these than diesel/petrol vehicles.”

“Sir please promote this rickshaw for delivery in rural and remotest areas because there is no last-mile connectivity? Also provide 1-day delivery to rural areas? Please tell why there is no winners for daily quiz in rural areas only metro cities preferred?,” commented a user.

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Bank credit growth may rise 200-300 bps next fiscal: Crisil

Incremental net domestic credit this fiscal up to December 2019 is just a fifth of what it was a year ago.

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Rupee

New Delhi, Feb 25 : Bank credit growth is set to bottom out but may rise 200-300 bps next fiscal while retail lending, supported by securitisation, will remain the key driver in the next fiscal.

The prolonged slowdown in bank lending may be bottoming out this fiscal, with gross credit offtake set to rise 8-9 per cent on-year in fiscal 2021, a good 200-300 basis points (bps) over the likely growth of 6 per cent this fiscal.

A gradual pick-up in economic activity, continuing demand for retail loans, and strong growth in lending by private sector banks should drive the uptick.

Recent policy moves announced in the Union Budget, and by the Reserve Bank of India (RBI) are also expected to provide the spur, Crisil Ratings said on Tuesday.

As for this fiscal, some growth momentum is expected in the fourth quarter, after a subdued three quarters — due to traditional fiscal year ending growth.

The RBI’s move to exempt banks from cash reserve ratio requirement for incremental credit to certain sectors for up to five years will also support lending.

Incremental net domestic credit this fiscal up to December 2019 is just a fifth of what it was a year ago.

Lending to the retail segment and non-banking financial companies showed good growth, while credit to corporates (ex-NBFC) and micro, small, and medium enterprises declined, Crisil said.

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Maruti Suzuki launches all new Vitara Brezza

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Maruti Suzuki Vitara Brezza

New Delhi, Feb 24 : Automobile major Maruti Suzuki India on Monday launched the all new compact SUV Vitara Brezza, which was unveiled at the recently held Auto Expo 2020.

The new vehicle has been priced in the range of Rs 7.34 lakh to Rs 11.40 lakh, the automobile major said on Monday.

According to the company, the new compact SUV offers enhanced sportiness, bolder looks, stronger stance, premium interiors and a host of new features.

The vehicle is equipped with the powerful 1.5 litre K-series BS6 petrol engine.

“The compact SUV will be offered with 5-speed manual and advanced automatic transmission with Smart Hybrid,” the company said in a statement.

In less than 4 years of its launch, Vitara Brezza has sold over 500,000 units.

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Dow Jones plunges 1,000 points over coronavirus fears

Earlier this month, Apple, the world’s most valuable company, rang alarm bells on Coronavirus impact on its sales.

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Mumbai, Feb 24 : The possibility of a coronavirus pandemic sent shock waves across global markets on Monday. Dow Jones Industrial Average lost over 800 points within minutes of its opening.

A sharp sell-off in US markets followed worries of further disruption in economic activity as coronavirus related deaths jumped sharply, particularly outside China.

The S&P 500 traded lower by 84.89 points, or 2.54 per cent, at 3,252.86 while the Nasdaq Composite dropped 287.27 points, or 3 Aper cent, to 9,289.32 at the opening bell.

Italy saw virus cases jumping exponentially from three on Friday morning to more than 150 by Sunday. Italy’s spike now marks the biggest outbreak outside of Asia.

In China, the epicentre of the outbreak, the coronavirus related deaths jumped past 2,600. The deadly virus has infected more than 77,000 people in China and was described by President Xi Jinping as the “largest public health emergency since the founding of the country”.

Earlier this month, Apple, the world’s most valuable company, rang alarm bells on Coronavirus impact on its sales.

Jaguar Land Rover CEO Ralf Speth also reportedly said that the company does not have enough parts from China to maintain its British production post two weeks.

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