Steel recycle mandate for automakers on the anvil
Business Standard|September 04, 2024
The environment ministry is likely to soon issue regulations that will mandate automakers to recycle a specified percentage of steel from old vehicles, starting from the next financial year, according to people familiar with the matter.
DEEPAK PATEL
Steel recycle mandate for automakers on the anvil

"We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). The final regulations are likely to be issued in the next 10 days," a government source informed.

The move, according to government officials, is a step toward "formalising" vehicle scrapping in the country and make automakers "active stakeholders" in the broader policy against air pollution.

India currently has just 70 registered vehicle scrapping facilities (RVSFS), as listed on Siam's website. With the impending regulations set to take effect in less than seven months, automakers will be pushed to make substantial investments, either by establishing their own RVSFS or partnering with third-party operators, the sources indicated.

The Ministry Environment, Forest and Climate Change (MoEFCC) had earlier issued a draft notification on January 30 under the Environment (Protection) Rules, 1986, outlining “extended producer responsibility (EPR) for endof-life vehicles".

Denne historien er fra September 04, 2024-utgaven av Business Standard.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra September 04, 2024-utgaven av Business Standard.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESS STANDARDSe alt
Pioneer of parallel cinema dies at 90
Business Standard

Pioneer of parallel cinema dies at 90

Veteran filmmaker Shyam Benegal, who heralded the Indian parallel cinema movement in the 1970s and 1980s with films such as Ankur, Nishant and Manthan, died on Monday, his daughter Pia said. He was 90.

time-read
2 mins  |
December 24, 2024
How tech is changing the landscape of elder care
Business Standard

How tech is changing the landscape of elder care

The concluding part of the silver economy series looks at innovative apps and wearables that are empowering seniors and their families

time-read
2 mins  |
December 24, 2024
ALGO RHYTHM AND BLUES
Business Standard

ALGO RHYTHM AND BLUES

Can Sebi's draft rules on algorithm-based trading level the playing field between institutional and non-institutional investors?

time-read
4 mins  |
December 24, 2024
Business Standard

AVOIDING MIS-SELLING BY MF DISTRIBUTORS Say no to NFOs, buy direct plans and seek advice from Sebi RIAs

The Securities and Exchange Board of India (Sebi) has implemented a new rule to curb unnecessary portfolio churn by distributors, usually done during the launch of new fund offers (NFOs) to pocket higher commissions.

time-read
2 mins  |
December 24, 2024
Amber Enterprises posts sharpest rise in 2 mths
Business Standard

Amber Enterprises posts sharpest rise in 2 mths

13% gains driven by block deal in which 1% equity changed hands

time-read
2 mins  |
December 24, 2024
Business Standard

NEW LISTINGS ADD 3% TO INDIA'S MCAP IN 2024

New listings through initial public offerings (IPOs) in 2024 contributed nearly 3 per cent (₹14 trillion) to India's market capitalisation, surpassing last year's contribution of 1.4 per cent (₹5 trillion).

time-read
1 min  |
December 24, 2024
Business Standard

Weak management commentary weighs on Siemens stock

Siemens's share price has lost ground in the past few sessions following weak management commentary.

time-read
2 mins  |
December 24, 2024
Business Standard

Mkts stage sharp recovery after five days of fall

Equity benchmark indices Sensex and Nifty rebounded sharply on Monday after five days of steep decline amid value buying at lower levels and a rally in global markets.

time-read
1 min  |
December 24, 2024
Business Standard

Public offers see investor rush

The five initial public offerings (IPOs) that closed on Monday attracted cumulative bids worth ₹1.4 trillion against ₹2,909 crore they were looking to raise. These offerings were subscribed between 11 and 195 times.

time-read
1 min  |
December 24, 2024
Zomato pips Maruti, HUL in Sensex weight
Business Standard

Zomato pips Maruti, HUL in Sensex weight

Becomes first new-age firm to join 30-share benchmark

time-read
1 min  |
December 24, 2024