General Awareness

BUSINESS AND ECONOMY - November 2015

Nov 2015

Oct 23, 2021

LG Tops Online Searches for ACs in 2021, HP Leads Laptop Space

About 35 per cent of internet users looking for a laptop, searched for a piece by a specific brand, instead of putting in a generic query. And within this space, HP topped the charts, being the most searched brand in both Mumbai and Delhi, and with the highest number of searches at an all-India level. The second spot went to Lenovo in the two major metros, and to Dell at the pan-India level.
Along with this, AMD Ryzen processors are becoming more common in searches, and small-screen laptops, particularly 13-inch models, are becoming more popular in metro cities, while the overall Indian market still searches for the larger 14-inch-plus screen sizes.
As far as AC brands are concerned, LG grabbed pole position all across, while it was a tussle between Voltas and Daikin for second place.

Wipro Signs Multi-year Strategic IT, Digital Deal with National Grid

Wipro Limited inked a multi-year global IT and digital deal with UK-based electric and gas utility provider National Grid for expediting its digital innovation journey.
National Grid operates in the UK and the US.
Wipro by employing its Boundaryless Enterprise solutions will help in the continued digital transformation of National Grid. The Indian IT firm will also use the solutions to enable integration of the utility's managed services and consolidation of various data centers across the US and the UK to next generation hosting services.
According to Wipro, the sustainable data centers will allow for improved program governance apart from greater consolidation and the moving of all server and application functions from conventional data centers.
Wipro will also help National Grid with mainframe migration and managed services transition, which will include the eventual implementation of a hybrid cloud solution for the latter.

TVS Motor to Set up Separate Subsidiary for Electric Vehicles

In an effort to increase its presence in the electric mobility space, TVS Motor Company has decided to set up a new subsidiary for the electric vehicle segment.
The board has approved the incorporation of a wholly-owned subsidiary to undertake its electric mobility business. TVS is also planning to come up with an investment of around Rs. 1,000 crore in the EV space, said K N Radhakrishnan, Director and Chief Executive Officer, TVS Motor Company. At present, TVS has only one product in the category, iQube. TVS iQube, launched in January 2020, is currently available in 33 cities across the country.

Flipkart Launches Skill-building Academy for E-commerce Logistics Sector

E-commerce firm Flipkart is setting up a digital learning academy to up skill thousands of students every year. The Supply Chain Operations Academy (SCOA) is Flipkart's ambitious project and commitment to providing relevant industry training and knowledge to help create a pool of skilled supply chain operations talent in the country. This will further help bridge the skill gap and create employment opportunities in the expanding supply chain industry in the country.
The specialised and robust training program under SCOA has been designed and created by the Flipkart team to provide a holistic experience and training to candidates, which will involve 15 days of digital classroom training and 45 days of on-the-job apprenticeship at Flipkart supply chain facilities. The program has been designed to impart knowledge on various facets of the e-commerce supply chain, the roles within the supply chain, soft skills, safety and compliance know-how. It involves a 60-day skilling program that will empower the youth to build careers in various aspects of supply chain management and certify them to increase their employability.

Oct 22, 2021

IndiaFirst Life Introduces Endowment plan, 'Saral Bachat Bima'

IndiaFirst Life Insurance Company Ltd (IndiaFirst Life), promoted by Bank of Baroda and Union Bank of India, introduced IndiaFirst Life Saral Bachat Bima Plan, a savings and protection cover for the entire family. This non-linked, non-participating, individual, limited premium policy provides a shorter pay commitment of five or seven years while keeping the entire family protected for 12-15 years.
IndiaFirst Life Saral Bachat Bima Plan is a competitively priced plan that helps in saving for your future financial needs. It secures your family's future in case of an unfortunate event. Furthermore, it offers yearly guaranteed additions, additional accidental death benefit in 1st year, funeral cover along with no medical tests, and quick processing all under one roof.

OnePlus Promotes Navnit Nakra as India CEO and Head of India Region

Smartphone maker OnePlus elevated Navnit Nakra as its India CEO and Head of OnePlus India region operations.
As part of this new senior leadership role, Nakra will spearhead the company's business operations and overall strategy for the India region.
Nakra, who was previously serving as the Vice President, Chief Strategy Officer and Head of Sales in India, joined the company in February last year.

Rajeev Mantri Named Chief Financial Officer of Citi India

Citi announced the appointment of Rajeev Mantri as chief financial officer, Citi India, and cluster finance head, South Asia.
He will report to Ashu Khullar, CEO, Citi India and Tim Monger, Asia Pacific CFO, Citi.
He takes on the role from Niraj Parekh, who will move to New York as the head of financial planning and analysis for the institutional clients group.

Oct 21, 2021

AMFI Appoints Balasubramanian as Chairman

A. Balasubramanian was appointed as the new Chairman of the Association of Mutual Funds in India (AMFI). He replaced Nilesh Shah, the Managing Director of Kotak Mutual Fund. Balasubramanian is Chief Executive Officer (CEO) of Aditya Birla Sun Life Asset Management. Meanwhile, Radhika Gupta, the MD and CEO of Edelweiss AMC, was appointed as vice-chair of AMFI.

RBI Penalises Paytm Payment Bank and Western Union Financial Services

The Reserve Bank of India (RBI) imposed a monetary penalty of Rs. 1 crore on Paytm Payments Bank for submitting information that did not reflect the factual position, which, according to the central bank, is an offence under Section 26 (2) of the Payments and Settlement Act.
The central bank has also imposed a penalty of Rs. 27.78 lakh on Western Union Financial Services for non-compliance with Money Transfer Service Scheme (MTSS) directions.
Paytm Payments Bank is an Indian payments bank, founded in 2015 and headquartered in Noida. In 2015, it received the license to run a payments bank from the Reserve Bank of India. It was launched in November 2017.

Tata AIG Announces Launch of RPAS Insurance and Distribution Tie-up with TropoGo

Tata AIG General Insurance announced the launch of Remotely Piloted Aircraft System (RPAS) Insurance and distribution tie up with TropoGo. Tropogo has successfully established an integrated marketplace providing a one-stop shop for the complete drone ecosystem.
Tata AIG has been at the forefront and has closely engaged with the Drone Federation of India to understand the various types of risks faced by drone owners and operators. Tata AIG's RPAS Insurance is a comprehensive product covering both Hull and Third-Party Liability risks faced by them. Tata AIG's RPAS insurance also provides optional coverage for BVLOS operations, night flying, data loss liability etc.
With the influx of new and exciting drone technologies and the recent policy changes in India, the already highly active community of drone manufacturers, tech start-ups, and enthusiasts are excited to make India a drone hub by 2030. Ministry of Civil Aviation foresees an investment of over INR 5000 crore in the drone manufacturing industry over three years leading to annual sales turnover reaching over INR 900 crores in FY 2023-24.

Oct 19, 2021

RBI Penalises Standard Chartered Rs 1.95 cr for Gaps in Customer Protection

The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 1.95 crore on Standard Chartered Bank for not complying with various directions issued by the central bank with regard to 'customer protection', 'cyber security framework in banks', 'credit card operations of banks, and 'creation of a central repository of large common exposures'.
Upon carrying out a statutory inspection for supervisory evaluation (ISE) of the bank, RBI found that the bank did not credit amounts involved in unauthorised electronic transactions (shadow reversal) and did not report cyber security incidents within the prescribed time period.
Further, it authorised the direct sales agents (outsourced third party) to conduct KYC verification. Also, it failed to ensure integrity and quality of data submitted in the Central Repository of Information on Large Credits (CRILC).

Tata Punch Launched

Furthering its attempt to dominate the mid-range and compact SUV segments in the Indian market, Tata Motors launched Tata Punch. The Indian automobile manufacturer, launched its much-awaited sub-compact SUV, Punch, at a starting price of Rs 5.49 lakh (ex-showroom Delhi).
With the launch, Punch has now become the country's first sub-compact SUV.
Tata had earlier started taking bookings for Punch. The car is now finally available at all of the company's dealerships and also their official website. The car is being placed below Nexon in the company's product line-up.
According to the Tata motors' website, the Tata Punch price ranges from Rs 5.49 lakh to Rs 8.79 lakh for petrol/manual variants and Rs. 6.99 lakh to Rs. 9.39 lakh for petrol/automatic variants.

RBI Imposes Rs. 1 Crore Penalty On SBI

Reserve Bank of India (RBI) has penalised the country's largest lender State Bank of India (SBI) for not complying with specific directions, and has imposed a fine of Rs. 1 crore on it.
The action against SBI is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, the RBI said.
SBI has been penalised for violating rules related to frauds classification and reporting by commercial banks and select financial institutions, the RBI said in a statement.

Oct 18, 2021

Power Global to Invest $25 mn to Set up Battery Infra Facility in India

US-based clean energy and mobility products start-up Power Global plans to invest around USD 25 million (around Rs. 185 crore) to set up a lithium-ion battery manufacturing unit and battery swapping infrastructure in India over the next two to three years.
The company, which is setting up a one gigawatt hour capacity battery plant at Greater Noida in Uttar Pradesh, is also targeting to retrofit around 8 lakh existing conventional three-wheelers in India for conversion into electric versions.
It will tap these retrofitted vehicles for its batteries, which would be offered for swapping through a subscription model.

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