German luxury car maker BMW seemed to have been making some aggressive plans for India. The company is now all geared to introduce its petrol-electric hybrid i8 at the upcoming Auto Expo 2014.The car, which made its global debut at the Frankfurt Motor Show 2013, is powered by a3-cylinder, 1.5-litre, twin turbocharging petrol engine, in combination with an electric motor. The engine generates a power of 231bhp, a peak torque of 320Nm and is mated to a 6-speed automatic gearbox transmission. The car is capable of attaining 0 to 100kmph speed in 4.5 seconds and offers a top speed of 250kmph, along with a fuel efficiency of 40kmpl.The car is likely to be the most expensive from BMW for the India market and, according to various reports, it is likely to come with a price tag of ₹1.5 crore. The company is expected to start rolling out the new offering by early 2014.Also, BMW India has kick-started the promotions for the BMW i series car.”A new kind of movement has arrived. A movement that defines your future. BMW i. Its pure progressive shapes will fascinate you. Its lightening performance will energise you. Its intelligent applications and services will help you enjoy more. Its unparalleled use of sustainable technology will allow you to live responsibly. It will combine what is good for you and what is good for tomorrow,” RushLane quoted an update by the company.
The new logo of State Bank of India (SBI) is pictured at the podium of the venue of a news conference after the announcement of SBI’s fourth quarter results, in Kolkata, India May 19, 2017. REUTERS/Rupak De Chowdhuri/File PhotoReutersThe State Bank of India has capped the maximum withdrawal amount for two versions of its debit cards. Classic and Maestro cardholders who so far could draw up to Rs 40,000 in a day from ATMs, cannot any more as they have been capped to Rs 20,000. This goes into effect starting Wednesday, 31 October.The centralised bank released a statement regarding this development, saying that if the user requires a higher limit on their cards, they might need to apply for a different card with a higher withdrawal limit. The bank seems to have made this decision to lower the rate of ATM frauds in the country. The classic variant of the SBI card is not a chip based one and still depends on swiping the magnetic strip, which is not difficult to copy or duplicate. A report by the IndiaToday has pointed out that this move could reduce instances of cloning cards. Classic cards that do not come with chip-enabled security will not be able to withdraw over Rs 20,000 starting todayIBT IndiaWith the country’s largest festival season coming up, this could end up affecting over 42 crore customers of the bank, one of the biggest in the country.”We analysed all the ATM transactions and we found that most of them are less than Rs 20,000 a day,” said SBI managing director PK Gupta. However, in cases of reported frauds the bank found that in all such cases, the limit of Rs 40,000 is withdrawn. “So this is basically to protect the customers and secondly, we want that more such (digital) transactions should happen.”