Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
Japanese automobile major Honda Motor Company temporarily suspended some of its auto and motorcycle production globally due to a suspected cyber attack, reports on Wednesday. Company’s operations in India have also been affected due to the network outage.
As per the reports, the cyberattack took place during wee hours of Monday that led to an internal glitch resulting in forced shutdown of manufacturer’s global production line.
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“A company-wide network outage has been reported by Honda companies globally. While the cause of the problem is currently under investigation, the recovery process is underway. The disruption in the network has impacted some business operations leading to a temporary adjustment in the production schedule. There is no effect on the invoicing process at our dealership network,” a CNBC TV18 report quoted the company as saying.
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Works at most of the production plants resumed by Tuesday. But plants located in India, Ohio, Brazil, and Turkey remained suspended as the attack disputed the company’s production systems, a Reuters report said.
“Since we were in the preparatory phase of resuming production in HCIL plants after COVID-19 related shutdown, the network disruption has not impacted the production,” a statement from Honda Cars read.
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