Business news in brief from India: June 25

• Shubham
• 25 June, 2022

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By: Shubham Ghosh

Here are some business news in brief from India: June 25

India’s largest automaker Maruti Suzuki against making Bharat NCAP compulsory: Maruti Suzuki, India’s largest carmaker, has been strongly objecting to making crash tests mandatory for every new vehicle under Bharat NCAP, which has been approved by Nitin Gadkari, the country’s minister for road transport and highways. Maruti Suzuki chairman RC Bhargava said India is a completely different market than Europe where crash test ratings are a benchmark, RushLane reported. He said the new benchmarking system will only benefit “rich people”.

Ola shuts used car business Ola Cars and quick commerce segment Ola Dash: Shared mobility major Ola has shut down its used car business Ola Cars, less than a year after it was launched. It has also decided to close Ola Dash, its quick commerce segment, CNBC-TV18 cited sources as saying. Ola said in an official statement that it has shut down Ola Dash and will be recasting its cars business to focus more on its electric division, Moneycontrol reported.

Ajay’s Takeaway Food creates over 400 jobs in Gujarat and helps more than 100 people become successful entrepreneurs: Ajay’s Takeaway Food – Gujarat’s fastest-growing Quick Service Restaurant chain from Navsari town – has opened a record number of 111 franchise outlets across the state in the two years post-pandemic, helping people become entrepreneurs and generate employment, ANI/PNN reported. Ajay’s Takeaway Food is the brainchild of two Gujarati brothers – Jaideep Solanki and Ajay Solanki.

Tatas’ Harish Bhat is among top ten CMOs in Forbes list: Tata group’s Harish Bhat has found his name among the top 10 of Forbes’ world’s most influential chief marketing officers (CMOs), 2022, The Hindu BusinessLine reported. Bhat, who is Brand Custodian, Tata Sons, is at No. 9 on the list. The global top CMO list was announced at a special event hosted by Forbes on the sidelines of the Cannes Lions festival in Cannes, France, on June 23.

Reserve bank of India penalises Indian Overseas Bank: The Reserve Bank of India has imposed a penalty of Rs 57.5 lakh (£59,912) on state-owned Indian Overseas Bank (IOB) for non-compliance with certain norms, including those related with frauds classification, Press Trust of India reported. The central bank imposed the penalty based on the statutory inspection of the bank over its financial position at the end of March 2020, and examination of reports, the agency added.