Vintage car owners riding on new rules
Business Standard|March 11, 2024
Centre's 2021 rules offer relief but there is mismatch in implementation
RAGHAV AGGARWAL
Vintage car owners riding on new rules

On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.

Some owners were simply sipping their cuppa, relishing the mood and waiting for the flag-off. The outlook towards these cars, they said, has changed in recent years.

"Earlier people used to export these cars," said Arjun, who came to participate in the rally with his grey left-hand drive 1964 Willys CJ-3B. "But now with the new rules, the trend has reversed. People are now importing these cars," added Arjun, who only identified his first name.

Before 2021, there was no legal process to register vintage cars in India.

In July 2021, Minister of Road Transport and Highways Nitin Gadkari announced the formalisation of these cars by amending the Central Motor Vehicle Act, 1989.

According to the new rules, all four-wheelers that are at least 50 years older than their first date of registration are now considered "vintage".

However, these cars need to be in their original form with no "substantial overhaul".

Diese Geschichte stammt aus der March 11, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der March 11, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS STANDARDAlle anzeigen
Business Standard

Indians prefer credit over debit card for high-value payments

In June 2024, India saw a significant increase in the number of credit, debit, and prepaid cards, reaching a total of 1.451 billion cards—an 11 per cent jump from the previous year, according to the India Digital Payments report for the first half of 2024 (January to June) by payment technology service provider Worldline.

time-read
1 min  |
October 12, 2024
Business Standard

An Indian anthropologist ahead of her time

Urmilla Deshpande set out to work on a novel about an Indian woman in Germany in the 1920s based on her grandmother Irawati Karve when she stumbled on the opportunity to write her biography.

time-read
3 Minuten  |
October 12, 2024
IAF plane makes inaugural landing at upcoming Navi Mumbai airport
Business Standard

IAF plane makes inaugural landing at upcoming Navi Mumbai airport

An Airbus C-295 of the Indian Air Force (IAF) touched down at Navi Mumbai International Airport (NMIAL) on Friday, marking the formal inaugural flight landing at the place. A Sukhoi SU-30 fighter jet did a low fly-by at the airport to test the 3.7-km long runway in the presence of Maharashtra Chief Minister Eknath Shinde, his deputy Devendra Fadnavis and Murlidhar Mohol, Minister of State for Civil Aviation and Co-operation.

time-read
1 min  |
October 12, 2024
Less than 33% of youth can search Net, transact online
Business Standard

Less than 33% of youth can search Net, transact online

Less than a third of those in the 15-29 age group can \"search the internet; send or receive an email and perform an online transaction\", show the findings from the latest Comprehensive Annual Modular Survey (CAMS), released by National Statistical Office (NSO) this week.

time-read
1 min  |
October 12, 2024
TCS shares dip as analysts offer mixed outlook
Business Standard

TCS shares dip as analysts offer mixed outlook

IT sector is expected to grow considerably from Q4 FY25 onwards

time-read
3 Minuten  |
October 12, 2024
Business Standard

NSE retains Nifty 50 for weekly contracts

The National Stock Exchange (NSE) has opted for the Nifty 50 index for issuing weekly option contracts following the Securities Exchange Board of India (Sebi's) one-exchange-one-benchmark mandate.

time-read
1 min  |
October 12, 2024
Business Standard

Compare lenders' costs; higher rates can offset benefits of offers

Footfall, enquiries, and bookings at car dealerships are rising, driven by attractive offers and promotions. These special deals typically start in October and run until the New Year.

time-read
2 Minuten  |
October 12, 2024
Business Standard

Noel's appointment as Tata Trusts' chair signals continuity: Analysts

It will be business as usual for Tata group stocks post Noel Naval Tata's appointment as chair of Tata Trusts, said analysts. They added that the development will signal continuity.

time-read
2 Minuten  |
October 12, 2024
Business Standard

Sebi intervenes in ₹45cr Trafiksol IPO irregularity

To undertake detailed examination into disclosures by the firm

time-read
2 Minuten  |
October 12, 2024
Business Standard

India-focused funds log first weekly redemption in 19 mths

China resurgence, expensive valuation dim India appeal; midcap funds see 14th week of outflows

time-read
2 Minuten  |
October 12, 2024