Top headlines: Small savings cross Rs 1 tn, Volkswagen Beetle goes electric

From Indians pumping nearly Rs 1 trillion into small savings schemes to Beetle becoming India's first vintage car to go electric, Business Standard brings you the top headlines of the day

Despite 'Make-in-India' push, industry share in GDP hit 20-year low in 2019

Manufacturing made up 27.5 per cent of India’s gross domestic product (GDP) in 2019, lowest in two decades, showing the share of the sector continues to shrink in the economy despite the government’s Make-in-India push. This makes India one of the least industrialised countries in Asia with the exception of Pakistan, Nepal and Myanmar. Read more...

Covid-19 effect: Small savings cross Rs 1-trillion mark in first 6 months

Indians pumped nearly Rs 1 trillion into small savings schemes during the first six months of the fiscal year (2020-21, or FY21) even as the Covid-19 pandemic upended normal life. Read more...

Mahindra group rides Jawa back to its Czech homeland after a 90-year hiatus

When Jawa Motorcycles owner Jiri Gerle sold the legendary but defunct brand to Classic Legends (part owned by Mahindra & Mahindra), he had one request to the new owners: Please do bring the brand back to its homeland — the Czech Republic. Two years since then, the company has managed to fulfil the septuagenarian’s wish. Read more...
 

LVB shareholders to ask RBI to reconsider stand on merger with DBS
 

Shareholders of Lakshmi Vilas Bank (LVB) are to make a representation to the Reserve Bank on Thursday, seeking that their interests be looked at sympathetically. A legal battle, sources said, cannot be ruled out though a bad precedent was set when shareholders of Global Trust Bank (GTB) got nothing after it was merged with the Oriental Bank of Commerce (OCB) in 2004.
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Pfizer ends vaccine trial with 95% success rate, to apply for approval soon
 

Final results from Pfizer's Covid-19 vaccine trial showed its shot had a 95 per cent success rate and two months of safety data, paving the way for the drugmaker to apply for an emergency US authorisation within days, it said on Wednesday. Pfizer said it expected the US FDA vaccine advisory committee to review and discuss the data in a public meeting that will likely be held in December. Read more...

Telecom to oil firms: Q2 results give no clear sign of broad revival
 

The economy is on the mend but sustained recovery will take time: that's the picture you get by studying the July-September quarter results of 1,286 listed companies. Read more...

Iconic Volkswagen Beetle to become India's first vintage car to go electric
 

A 1948 canary yellow Beetle has become the first vintage car in India to be converted into an electric vehicle. The car now has a 48V 100Ah battery and on full charging, it can run up to 50-60 km. Read more...