General Awareness

BUSINESS AND ECONOMY - January 2015

Jan 2015

Mar 07, 2025

India's Circular Economy: A $2 Trillion Market and 10 Million Jobs by 2050

India's circular economy is projected to generate over $2 trillion in market value and create nearly 10 million jobs by 2050, according to Union Minister Bhupender Yadav. Speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, he emphasised that the circular economy represents a major shift from the traditional "take, make, waste" model to a more sustainable reuse and recycle-based system. India has also expressed interest in hosting the World Circular Economy Forum 2026. Several key initiatives, MoUs, and reports were launched to promote sustainable waste management and urban circular economy practices.

Britannia Industries CEO Rajneet Singh Kohli Steps Down

Biscuits major Britannia Industries' Chief Executive Officer and Executive Director, Rajneet Singh Kohli, resigned to pursue an external opportunity.
He joined the maker of Good Day biscuits in September 2022 after Varun Berry was elevated to the position of vice chairman.

Mar 06, 2025

Ajay Bhadoo Appointed CEO of Government e Marketplace (GeM)

The Government of India appointed Ajay Bhadoo, Additional Secretary in the Department of Commerce, as the Chief Executive Officer (CEO) of Government e Marketplace (GeM). He assumed this role alongside his existing responsibilities. His appointment came as GeM transitions into a next-generation digital marketplace powered by Tata Consultancy Services (TCS). Bhadoo, a 1999-batch IAS officer from the Gujarat cadre, has an extensive career in governance, urban infrastructure development, and policy implementation.

Indo-French Chamber's HR Conclave 5.0

The Indo-French Chamber of Commerce (IFCCI) organised the fifth edition of its flagship event, the HR Conclave and Awards 5.0 in New Delhi, bringing together CEOs, CHROs, & Global Thought Leaders from the Indo-French Business Community organised under the aegis of the IFCCI HR Committee which comprises of CHROs and HR Heads from over 100+ French & Indian Companies.
A key moment at the IFCCI HR Conclave & Awards 2025 was upGrad Enterprise's exclusive launch of The Workplace Wishlist 2025 - a snapshot report uncovering the skilling priorities and preferences of the Indian workforce.

RBL Bank Appoints Agrawal as President of Branch Banking

Private sector lender RBL Bank appointed Narendra Agrawal as president and head of branch banking and retail liabilities and T. S. Pari as Chief Operations Officer (COO).
Agrawal has over 25 years of experience across deposits, lending, distribution, and payments. He brings a strong track record of scaling businesses and driving profitable growth through a digital-first approach.
Pari, who has more than 25 years of experience in leadership roles across foreign and private sector banks, will be responsible for driving efficiencies, customer centricity, and strengthening risk management practices in core business operations.

Union Cabinet Green Lights Ropeway Projects, Livestock Disease Control

As part of its push for development in the hill state of Uttarakhand, the Union Cabinet approved the Sonprayag to Keradrnath and Govindghat to Hemkund Sahib ji ropeway projects. The ropeways will be built at an estimated cost of Rs. 6,811 crore. The Union Cabinet also cleared Rs. 3,880 crore in funding for livestock health and disease prevention, Union Minister Ashwani Vaishnaw announced.
The Sonprayag to Kedarnath ropeway (12.9 kilometres) will be constructed at a cost of Rs. 4,081 crore in a design, build, finance, operate and transfer (DBFOT) mode.
The National Highways Logistics Management Limited (NHLML), a company set up by the National Highways Authority of India (NHAI), will be overseeing the construction of the project as part of the Centre's Parvatmala Pariyojana.
The Govindghat to Hemkund Sahib Ji ropeway project will also be based on the DBFOT mode and will be constructed at a total cost of Rs. 2,730 crore.

Magma General Insurance Partners with Hyundai India Insurance Broking for Vehicle Coverage

Magma General Insurance Limited formed a strategic partnership with Hyundai India Insurance Broking Private Limited (HIIB) to offer motor insurance products across more than 600 dealerships in India.
The agreement allows HIIB to distribute Magma's insurance solutions for both private and commercial passenger vehicles. Customers will gain access to coverage against risks including accidents, theft, natural disasters, and third-party liabilities.
Representatives from both companies finalised the agreement in Gurugram.

Mar 05, 2025

Indian Overseas Bank CII Indian Green Building Council Ink Pact

Public sector Indian Overseas Bank signed a memorandum of understanding with the Confederation of Indian Industry - Indian Green Building Council, to provide accessible and affordable financing solutions for developers and home buyers.
As per the collaboration, Indian Overseas Bank would offer preferential financing options to developers engaged in construction of IGBC-rated green buildings. The bank would also provide tailored financial support to home buyers purchasing residential units in the IGBC - certified projects.
This partnership with IGBC is a significant step toward ensuring that green buildings are not just an aspiration but a viable and affordable reality.

ICICI Prudential Launches 'Pru GIFT Select' for Guaranteed Income

ICICI Prudential Life Insurance unveiled a new long-term savings product, ICICI Pru GIFT Select, aimed at providing customers with guaranteed immediate income to navigate the uncertainties of the current market. The plan offers multiple benefits, including guaranteed returns, wealth preservation, and an inflation-adjusted increasing income option.
ICICI Pru GIFT Select enables customers to customise their income by choosing the start date, duration, and amount of their guaranteed payouts. Additionally, the plan includes a life cover component, ensuring financial security for policyholders and their families.

Tata Motors Begins India's First Hydrogen Truck Trials for Net-zero Goal

In a landmark development towards India's vision of achieving net-zero emissions by 2070, Tata Motors, the country's largest commercial vehicle manufacturer, launched the first-ever trials of hydrogen-powered heavy-duty trucks.
The trial phase will span up to 24 months and involves the deployment of 16 advanced hydrogen-powered vehicles with varying configurations and payload capacities. These trucks, equipped with new-age hydrogen internal combustion engines (H2-ICE) and fuel cell (H2-FCEV) technologies, will be tested on India's most prominent freight routes, including those around Mumbai, Pune, Delhi-NCR, Surat, Vadodara, Jamshedpur, and Kalinganagar.

Mar 04, 2025

L&T Secures New Power Transmission Orders in India, Overseas

Larsen & Toubro's (L&T) Power Transmission & Distribution (PT&D) vertical secured multiple significant contracts for infrastructure projects in India and international markets. The new orders reinforce its role in developing global power networks.
In India, L&T was awarded a contract to build 765kV and 400kV transmission lines linked to a Renewable Energy Zone in Uttar Pradesh. Additionally, the company has secured an order for the turnkey construction of a 400kV transmission line in southern India, intended to evacuate power from a non-fossil fuel-based power plant.
Internationally, L&T received an order in Saudi Arabia for a 380kV Gas Insulated Substation (GIS), which will include the installation of associated reactors and hybrid GIS bays. In Abu Dhabi, the company has been contracted to develop a new 220/33kV grid station along with other related infrastructure.
These contracts highlight L&T's continued partnerships with key clients and its contribution to the expansion of power infrastructure across various regions.

IRCTC and IRFC Get the 'Navratna' Tag from Centre

The Government of India elevated the Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) to the esteemed Navratna status among Central Public Sector Enterprises (CPSEs).
This upgrade makes IRCTC and IRFC the 25^th and 26^th companies to receive Navratna recognition, marking a significant achievement for the Indian Railways.
The Navratna status provides these enterprises with enhanced financial autonomy, enabling them to invest up to Rs. 1,000 crore without requiring prior government approval.

City Union Bank Partners with Chennai Super Kings to Launch Co-Branded Credit Card

City Union Bank (CUB) announced a strategic partnership with Chennai Super Kings (CSK) to introduce an exclusive co-branded credit card. This collaboration aims to offer CSK fans a unique financial product that enhances their purchasing experience while allowing them to showcase their team spirit. The City Union Bank – Chennai Super Kings Co-Branded Credit Card is designed to provide customers with exciting rewards, exclusive offers, and memorable cricket-related experiences.
The partnership between City Union Bank and Chennai Super Kings marks a major milestone in the intersection of banking and sports. By combining financial services with cricket fandom, this co-branded credit card provides a seamless way for CSK supporters to celebrate their love for the team while enjoying financial benefits. This initiative aims to increase fan engagement and offer them an additional way to express their loyalty to the franchise.

Mar 03, 2025

RBI Imposes Penalty on Hongkong and Shanghai Banking Corporation

The RBI imposed a penalty of Rs. 66.6 lakh on The Hongkong and Shanghai Banking Corporation Limited for non-compliance with certain directions including those related to 'Know Your Customer' and 'Interest Rates on Deposits'. A penalty of Rs. 33.1 lakh was also imposed on IIFL Samasta Finance Limited for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016' and Know Your Customer (KYC) Directions.

PwC India Launches Programme to Mentor 15 start-ups in Blockchain, AI

PwC India announced the launch of its first-ever start-up accelerator programme 'Emerging Tech Start-up Challenge' geared to empower start-ups in the emerging technology space to refine their solutions and bolster market penetration.
The accelerator programme is aimed at driving innovation and supporting India's vibrant start-up ecosystem by providing mentorship, consulting expertise, and strategic guidance.

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