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Buying and selling of Certificates of Deposit, that are issued on the scrapping of outdated autos will promote round financial system and assist minimize vehicular emissions, in line with an trade skilled.
Scrappage of outdated autos will help carry down vehicular air pollution by 20-25 per cent, Nitin Chitkara, the CEO of Meta Supplies Round Markets (MMCM), which runs the DigiELV platform, mentioned.
Whereas scrapping of outdated autos will promote round financial system, getting such autos off the highway will assist minimize GHG emissions, he added.
MMCM-promoted DigiELV platform was launched final week by Union Minister Nitin Gadkari which can permit buying and selling of Certificates of Deposit (CoD) or ELV certificates.
The buying and selling of such these CoDs will assist those that wish to scrap their outdated autos however don’t wish to buy a brand new automobile in close to future, Chitkara defined.
Round 4,800 such certificates had been traded on DigiELV through the pilot section, benefiting Finish of Life Car homeowners, he added.
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