General Awareness

BUSINESS AND ECONOMY - November 2015

Nov 2015

Feb 21, 2025

TRIFED Partners with Meesho, IFCA, and MGIRI

In a shift towards enhancing the economic welfare of tribal communities, TRIFED (Tribal Cooperative Marketing Development Federation of India Ltd) entered into strategic partnerships with Meesho, the Indian Federation of Culinary Associations (IFCA), and the Mahatma Gandhi Institute of Rural Industrialisation (MGIRI). These collaborations are designed to facilitate tribal businesses by integrating them into the B2B sector and ensuring the growth and promotion of tribal products. The Memoranda of Understanding (MoUs) were signed during the "Aadi Mahotsav" at Major Dhyan Chand National Stadium in New Delhi, marking a crucial step in enhancing tribal entrepreneurship and market access.

LIC Unveils 'One Man Office' to Digitally Empower Agents

The Life Insurance Corporation of India (LIC) introduced a new digital initiative called the 'One Man Office' (OMO) to enhance the efficiency of its agents by providing 24×7 digital services. This initiative aims to support LIC's long-term vision of 'Insurance for All by 2047' by offering seamless online tools for policy sales, customer service, and business management.
LIC, India's largest insurer, has been investing heavily in digital transformation, and the 'One Man Office' is a major step in making its agents more independent and productive. By integrating technology into insurance services, LIC is ensuring that its agents can work efficiently without the need for a traditional office setup, ultimately benefiting both policyholders and the corporation itself.

Feb 20, 2025

NSE Becomes India's most Valuable Unlisted Firm

The National Stock Exchange (NSE) claimed the top spot as the most valuable unlisted company in India, according to the 2024 Burgundy Private Hurun India 500 report. The NSE, headquartered in Mumbai, surged by an impressive 201% in value, reaching an estimated worth of Rs. 4,70,250 crore.
This year's report marked a significant change as Serum Institute of India, the Pune-based vaccine giant, lost its long-held title, dropping to second place. The Serum Institute's valuation increased by 10%, reaching Rs. 2,11,610 crore, but it wasn't enough to maintain its dominant position in the rankings.
The 2024 Burgundy Private Hurun India 500 highlights the remarkable growth of unlisted companies, with several players gaining significant momentum in terms of valuation.

Feb 19, 2025

RBI Launches Mobile App Offering Financial Statistics Related to Economy

Reserve Bank launched mobile application 'RBIDATA' which will provide access to more than 11,000 different series of economic data related to the Indian economy.
The mobile app offers macroeconomic and financial statistics relating to the Indian economy in a user-friendly and visually engaging format.
Users will be able to view time series data in graphs/charts and download data for analysis. There will also be details such as data source, unit of measurement, frequency and recent updates.
Further, the app's 'Banking Outlet' section will help users find banking facilities within 20 kilometres of their location and they can also access data about SAARC countries through the 'SAARC Finance'.

Standard Chartered Appoints P.D. Singh as India CEO

Standard Chartered Bank secured approval from the Reserve Bank of India (RBI) to appoint P.D. Singh as its Chief Executive Officer for India and South Asia. Singh, a veteran in corporate banking and former CEO of JP Morgan India, will assume his new role on April 1, 2025. He will replace Zarin Daruwala, who is set to retire on March 31, 2025, after leading the bank for nearly a decade.

LIC Launches Marketing Tech Platform under Project DIVE

State-owned Life Insurance Corporation of India (LIC) launched its marketing technology (MarTech) platform to redefine customer engagement. The platform is the first major milestone in project DIVE (Digital Innovation and Value Enhancement).
This launch represents LIC's first step towards becoming a global digital champion in the insurance industry, leveraging world-class technology to revolutionise customer engagement at an unprecedented scale.
This initiative strengthens LIC's ability to connect with policyholders, prospects and agents in a seamless and personalised manner.

Feb 18, 2025

Financial Services Firm Navi Appoints new CEOs

Financial services player Navi Group announced the appointment of two new Chief Executive Officers (CEOs) for its companies, including Navi Technologies and Navi Finserv.
Sachin Bansal resigned from his position as CEO of the companies and will serve as the executive chairman of Navi Group.
Rajiv Naresh was appointed CEO of Navi Technologies, whereas Abhishek Dwivedi was appointed as Navi Finserv's CEO.
Both have been part of Navi since its inception.

Madhya Pradesh Unveils India's First GCC Policy

Madhya Pradesh took a major step in India's economic landscape by introducing the country's first dedicated Global Capability Centre (GCC) Policy 2025. This initiative aims to attract multinational corporations by creating a strong ecosystem for global innovation and collaboration, particularly in Tier-2 cities like Indore, Bhopal, and Jabalpur. By providing a business-friendly environment, financial incentives, and infrastructure development, the state plans to position itself as a preferred destination for GCCs.
The policy targets sectors such as IT, finance, engineering, human resources, and emerging technologies, with a particular emphasis on artificial intelligence (AI) and cybersecurity.

RBI Fines Shriram Finance, Ujjivan SFB, and Nainital Bank for Violations

The Reserve Bank of India (RBI) took strict action against three financial institutions, Shriram Finance, Ujjivan Small Finance Bank, and Nainital Bank, by imposing monetary penalties for non-compliance with various regulatory norms. The penalties were imposed under the Banking Regulation Act, 1949, following the RBI's Inspection for Supervisory Evaluation (ISE 2023), which assessed the financial health of these institutions as of March 31, 2023. The violations ranged from non-adherence to interest rate directives, loan documentation irregularities, and risk categorization lapses.
Nainital Bank faced a penalty of Rs. 61.40 lakh for failing to follow RBI's norms on 'Interest Rate on Advances' and 'Customer Service in Banks.'
Ujjivan Small Finance Bank was fined Rs. 6.70 lakh for not issuing loan agreements to some borrowers at the time of loan disbursement.
Shriram Finance received a penalty of Rs. 5.80 lakh for not setting up a system to review risk categorisation of accounts periodically, which is essential for regulatory compliance.

Feb 17, 2025

Indian Banks' Margins to Drop 10 Bps in FY26

Indian banks are set to experience a decline in their net interest margins (NIMs) by an estimated 10 basis points in the financial year 2025-26, as per a report by Fitch Ratings. This forecast follows the Reserve Bank of India's (RBI) decision to lower the key policy rate by 25 basis points to 6.25% in February 2025.
The rate cut marks the first such move in nearly five years, signaling the beginning of an easing cycle aimed at boosting economic activity. However, it also brings challenges for banks as lower lending rates are expected to squeeze margins, especially in the short term.

Meta's 50,000 km Cable to Boost India-US Digital Connectivity

Meta has launched an ambitious project named Project Waterworth, which will lay down a 50,000-kilometre undersea cable to improve digital connectivity between India and the United States. This initiative is expected to offer faster and more reliable internet services across multiple regions, not just between India and the US, but also in South America and Africa. With the growing importance of digital connectivity, this project is set to become a crucial infrastructure for facilitating economic growth, digital inclusion, and innovation on a global scale.

Bank of Maharashtra Receives RBI Approval to Establish Branch in GIFT City

The Reserve Bank of India (RBI) has granted permission to the Bank of Maharashtra (BoM) to set up a branch in Gujarat International Finance Tec-City (GIFT City). This strategic move aims to enhance BoM's offshore banking operations from India, aligning with the bank's expansion plans in the region.
With the new branch in GIFT City, BoM is poised to significantly boost its business in Gujarat. The bank currently operates 101 branches in the state and has set an ambitious target to increase its business by 25%, aiming to surpass Rs. 15,000 crore by the second quarter of the financial year 2024-25. This expansion is part of BoM's broader strategy to strengthen its presence in key financial hubs across India.

Campa Cola Replaces Thums Up as IPL 2025 Co-Presenter

Campa Cola, a beverage brand owned by Reliance Consumer Products, has secured the co-presenting rights for the Indian Premier League (IPL) 2025. The deal, valued at Rs. 200 crore, marks a significant shift in India's beverage market, traditionally dominated by global giants like Coca-Cola.
The move highlights Reliance's strategy to rapidly scale its presence across India and to introduce more products, including sports drinks, during the IPL season.

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