India Resurgence Fund ("IndiaRF"), promoted by Piramal Enterprises Limited and Bain Capital Credit has made an announcement related to an investment of $830 million in Setco Group.

To make its New Forever range more accessible in these challenging times, Tata Motors has rolled out finance offers for its passenger vehicle customers in collaboration with NBFC Sundaram Finance.

It is expected that the automotive components sector will see a rebound in its revenue for about 21-23% due to an increase in the domestic and export demand, as per a research analysis by CRISIL.

Auto components manufacturer Minda Corporation has reported a consolidated profit of Rs 129.2 million after tax for the March quarter, compared to the loss of Rs 2997.8 million in the year-ago period.

The RBI Governor has announced measures for cash-starved enterprises in the MSME and SMB sectors. Banks can now deduct credit disbursed for new MSME borrowers from their NDTL for calculation of CRR.

To mitigate COVID 19 challenge, automakers must try to strategise the operations to improve their resilience in the coming days and be prepared for the future, says Sharadhi Babu, CEO, AXISCADES.

The new package is expected to give a big boost to the MSME sector, which has been under severe stress.

Auto sector is going through a tough time due to Covid-19 effects which has seen several shutdowns or limited operations across the nation.

The association will create a taskforce to evaluate the possibility of manufacturing facemasks, hand-sanitisers by component manufacturers.