General Awareness

BUSINESS AND ECONOMY - December 2014

Dec 2014

Jun 05, 2025

Amul Launches Milk in Spain

Gujarat Co-operative Milk Marketing Federation Limited, popularly known as Amul, partnered with Cooperativa Ganadera del Valle de los Pedroches (COVAP), Spain's first-tier cooperative, and launched Amul milk in Spain and the EU.
The official launch took place at Embassy of India, Madrid in the presence of Dinesh K. Patnaik, Ambassador of India to the Kingdom of Spain, D. Fernando Heredia Noguera, Deputy Director for International Relations and Community Affairs, Spanish Ministry of Agriculture, Fisheries and Food, Ricardo Delgado Vizcaino, President, COVAP and senior officials of Amul and its channel partners of Spain.
Amul, with its 3.6 million dairy farmers, is the world's largest farmer-owned dairy cooperative.

Boeing Names New India Tech Chief

Aerospace giant Boeing named Shashank Jha as India site leader for Information Digital Technology & Security (IDT&S) and Chief Information Officer (CIO) of Boeing India.
Based in Bengaluru, Jha will lead strategy and operations for Boeing's IDT&S team in India, which includes nearly 1,500 members. In this role, he will focus on strengthening collaboration, talent development, and IDT&S India site engagement.

Jun 04, 2025

Canara Bank Removes Minimum Balance Rule for All SB Accounts

Canara Bank announced the removal of charges for non-maintenance of minimum balance across all types of Savings Bank (SB) accounts, including regular, salary, and NRI accounts.
Effective June 1, 2025, the move made Canara Bank the first major public sector bank to implement a blanket waiver on minimum balance penalties for all SB account categories.
Previously, account holders were required to maintain a specified Average Monthly Balance (AMB) or face penalties. With this policy change, such fees will no longer apply, offering more flexibility and financial relief to customers.

Deutsche Bank Appoints Stefan Schaffer as CEO of India GCC

Deutsche Bank appointed Stefan Schaffer as the new CEO of its India Global Capability Centre (GCC). Schaffer will also operate as the Global CIO for Corporate Functions and Head of Global Technology Centres at Deutsche Bank.
Since joining Deutsche Bank in 2020, Stefan has held several senior leadership roles within the Technology, Data and Innovation (TDI) division. His tenure includes serving as Head of the Bucharest Technology Centre and President of the Board of Directors in Romania.

Delta Electronics Signs Deal with Ventus Energy to Reduce Carbon Footprint

Energy and power management solutions provider Delta Electronics India signed a power purchase agreement with Ventus Energy Consultancy to reduce its carbon footprint in the country.
A power purchase agreement is a long-term deal between a power supplier and a power consumer. It outlines the terms of electricity sale, including the price, volume, and duration of the agreement.
Delta Electronics would source a combined 9.6 million units of wind power annually to power its manufacturing facilities in Tamil Nadu.

Jun 03, 2025

S. Padmanabhan Appointed Chairman of Tata Chemicals

In a strategic leadership development within the Tata Group, S. Padmanabhan, a seasoned executive and PGP'82 alumnus of IIM Bangalore, was appointed as the Chairman of Tata Chemicals.
His career in the Tata group of companies began with Tata Consultancy Services Limited (TCS) in 1982 and spans over 40 years. During his 26-year stint in TCS, he held roles such as Executive Director of Human Resources, Head of Application Development and Maintenance, Head of Airlines Practice, Country Manager, TCS Switzerland and position of Executive Director.

Air India Enters into Codeshare Agreement with Icelandair

Air India and Icelandair announced their new codeshare partnership. The partnership will significantly boost connectivity between India and Iceland with seamless travel options across 15 routes in India and Europe.
This strategic partnership strengthens travel and trade ties between India and Iceland, offering passengers greater flexibility and choice while ensuring a seamless travel experience with convenient connection times, unified baggage allowances, and enhanced connectivity through major European hub airports.
The two airlines signed the codeshare agreement on the sidelines of the 81^st Annual General Meeting (AGM) of the International Air Transport Association (IATA), held in New Delhi in June.

Punjab & Sind Bank MD S. K. Saha Get Extension

The Union government extended the tenure of Swarup Kumar Saha, Managing Director and Chief Executive Officer of Punjab & Sind Bank, until his superannuation on February 28, 2027, or until further orders, whichever is earlier.
Saha's current term was set to end on June 2, 2025. The extension was granted under clause (a) of sub-section (3) of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

Indian Oil Finalises India's Largest Green Hydrogen Project at Panipat

State-owned Indian Oil Corporation (IOC) finalised the levelised cost of hydrogen (LCoH) for setting up a 10,000 tonnes per annum green hydrogen generation unit at its Panipat refinery and petrochemical complex in Haryana, advancing India's clean energy ambitions.
This marks IOC's entry into the green hydrogen space with India's largest-ever green hydrogen project to date.
Slated for commissioning by December 2027, the green hydrogen produced will replace fossil-derived hydrogen in refinery operations, resulting in substantial reduction in carbon emissions.

Bangladesh Introduces New Currency Notes Without Mujib

Bangladesh's central bank, under Nobel Laureate Mohammad Yunus' interim administration, dropped the portrait of the country's founding father and exiled leader Sheikh Hasina's father Sheikh Mujibur Rehman from new currency notes.
The new notes will showcase symbols of the country's heritage, including temples, monasteries, historic buildings, and artwork by Zainul Abedin, a prominent Bangladeshi artist.
The Bangladesh Bank unveiled redesigned Tk 20, Tk 50, and Tk 1,000 notes ahead of Eid.
The redesigned notes are being introduced following a political controversy over Sheikh Mujibur Rehman's face on the currency notes.

Jun 02, 2025

Air India CEO Campbell Wilson Says Pakistan Airspace Ban Adding to Flying Costs

According to Air India's Chief Executive Officer Campbell Wilson, the continuing ban for Indian airlines in using Pakistani airspace is adding flying hours for non-stop flights and will weigh down Air India's path to profitability.
Campbell said that the impact is significant but they have been able to sustain non-stop operations to most destinations in North America and Europe.

IEPFA and SEBI Launch First "Niveshak Shivir" in Pune

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, in collaboration with the Securities and Exchange Board of India (SEBI), successfully launched the pilot chapter of Niveshak Shivir in Pune. The initiative is a part of IEPFA's continued mission to empower investors and strengthen financial literacy. The event marked a significant step in facilitating direct engagement with investors and addressing unresolved financial claims.
In line with IEPFA's broader investor outreach initiatives, Niveshak Shivir was conceptualised to assist investors in resolving pending issues related to unclaimed dividends and shares, updating KYC and nomination details, and facilitating faster settlements of claims – all under one roof.

Digant Sharma Joins Global Leaders at Europe-Asia Economic Summit in Davos

Digant Sharma joined an elite gathering of world leaders, policymakers, and innovators at the first edition of the Europe-Asia Economic Summit (EAES), held at the Davos Congress Centre. The global summit brought together more than 100 participants from academia, government, multinational corporations, and SMEs to explore the evolving intersection between artificial intelligence (AI) and sustainability, under the theme "AI and Sustainability." Hosted by the Executive Board of EAES, including: Ms. Aina Meng, Founder and President Mr. Andreas Benoit, Executive Board Member Mr. Pedro R. Mor, Executive Board Member Mr. Sharma was part of high-level strategic discussions that prioritised cross-border collaboration between Europe and Asia, with a focus on building smart, sustainable ecosystems and accelerating the global energy transition.

Chairman-CEO of EY India Rajiv Memani Assumes CII Presidency for 2025-26

The newly constituted national council of Confederation of Indian Industry (CII) at a meeting elected its new office bearers for the year 2025-26. Rajiv Memani, Chairman and CEO of EY India assumed office as the President of CII for 2025-26.
He took over from Sanjiv Puri, Chairman and Managing Director of ITC Ltd.
Memani is also a member of EY Global Executive Board as the Chair of its Growth Markets Council.

May 31, 2025

BoB Signs MoU with T.N. Govt. for Salary Accounts

Bank of Baroda (BoB) said it has entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to offer a customised salary account package for employees of the State Government, including employees of the Police, Forest, Fire & Rescue Departments.
The newly-introduced salary-account package comes with comprehensive insurance coverage at zero cost to the employees, making it one of the 'most attractive offerings in the banking sector.'

Neeraj Chopra Becomes Brand Ambassador for Audi India

Olympic champion Neeraj Chopra has partnered with Audi India. The announcement was made by JSW Sports, underscoring the javelin star's rising stature both on and off the field.
Chopra, who became a national hero with his historic javelin throw at the Tokyo Olympics, followed by a Silver medal at the 2024 Paris Games, has now inked a pact to become the face of Audi in India.

Shubman Gill, an Indian Cricketer, Appointed as Brand Ambassador for Oakley

Shubman Gill, the new Test series captain of India, has added a stylish touch to his cricket gear. He is now the brand ambassador for Oakley, a famous sunglasses company.
This partnership comes with Oakley's latest campaign called ''Artifacts from the Future."
At just 25, Gill is already known for his cool and calm batting. Now, he is getting attention for his stylish eyewear too.
He is seen as a role model for many young Indians because of his hard work and dedication. Oakley chose him because he represents passion, progress and top performance, which are the same values that Oakley believes in.

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