Kolkata, Nov 16, 2016: The November 9 demonetisation is likely to dent domestic two-wheeler sales in the near term, rating agency ICRA said on Tuesday.
Restrictions on cash transactions are expected to affect the demand for the entry segment of two-wheelers which are cash-purchase driven.
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The sector achieved a 16 per cent growth during April-October period in the current fiscal.
“Rural markets account for about 60-65 percent of the entry segment motorcycle sales and given the high propensity for cash purchases in the rural markets, the entry segment of the motorcycles is expected to be a casualty,” the ratings agency said in a statement.
Favourable monsoon has been a significant trigger for healthy demand from the rural markets during the current fiscal, most of the sales have been sentiment driven. The Hharif crop sales have also commenced in October or November.
However, the recent scrapping of high denomination notes and the consequent constrained liquidity may result in dip in realisations as well as delay in realisations of crop sales. It will cause postponement of demand for such vehicles, the agency said.
“Unavailability of adequate cash during the preparation of sowing time for next Rabi season is also likely to have a bearing on farm incomes in the next season,” it added. (IANS)
Google’s admission that it had in 2014 inadvertently coded the 112 distress number and the UIDAI helpline number into its setup wizard for Android devices triggered another controversy on Saturday as India’s telecom regulator had only recommended the use of 112 as an emergency number in April 2015.
After a large section of smartphone users in India saw a toll-free helpline number of UIDAI saved in their phone-books by default, Google issued a statement, saying its “internal review revealed that in 2014, the then UIDAI helpline number and the 112 distress helpline number were inadvertently coded into the SetUp wizard of the Android release given to OEMs for use in India and has remained there since”.
However, the Telecom Regulatory Authority of India (TRAI) recommended only in April 2015 that the number 112 be adopted as the single emergency number for the country.
According to Google, “since the numbers get listed on a user’s contact list, these get transferred accordingly to the contacts on any new device”.
Google was yet to comment on the new development.
Meanwhile, French security expert that goes by the name of Elliot Alderson and has been at the core of the entire Aadhaar controversy, tweeted on Saturday: “I just found something interesting. I will probably do full disclosure tomorrow”.
“I’m digging into the code of the @Google SetupWizard app and I found that”.
“As far as I can see this object is not used in the current code, so there is no implications. This is just a poor coding practice in term of security,” he further tweeted.
On Friday, both the Unique Identification Authority of India (UIDAI) as well as the telecom operators washed their hand of the issue.
While the telecom industry denied any role in the strange incident, the UIDAI said that he strange incident, the UIDAI said that some vested interests were trying to create “unwarranted confusion” in the public and clarified that it had not asked any manufacturer or telecom service provider to provide any such facility.
Twitter was abuzz with the new development after a huge uproar due to Telecom Regulatory Authority of India (TRAI) Chairman R.S. Sharma’s open Aadhaar challenge to critics and hackers.
Ethical hackers exposed at least 14 personal details of the TRAI Chairman, including mobile numbers, home address, date of birth, PAN number and voter ID among others. (IANS)