General Awareness

BUSINESS AND ECONOMY - December 2015

Dec 2015

Sep 26, 2024

Tata Steel Commissions India's Largest Blast Furnace in Kalinganagar

Tata Steel successfully commissioned India's largest blast furnace at its Kalinganagar facility in Odisha, marking a significant milestone for the steel sector. With a total investment of Rs. 27,000 crore, this Phase II expansion will increase the plant's capacity from 3 million tonnes per annum (MTPA) to 8 MTPA. The new facility is designed to meet the growing demands of various industries, including automotive, infrastructure, shipbuilding, defence, and oil and gas. Over the last decade, Odisha has become the largest investment destination for Tata Steel, with a cumulative investment exceeding Rs. 100,000 crore.

Bank of Baroda and EaseMyTrip Launch Co-Branded Travel Debit Card

Bank of Baroda, in collaboration with EaseMyTrip.com, has introduced the Bank of Baroda EaseMyTrip Co-branded Travel Debit Card, aiming to cater to frequent travelers and those with a penchant for entertainment and lifestyle. This initiative marks the first co-branded travel debit card launched by a public sector bank in India, reflecting the growing trend towards customised financial products.
The new debit card offers a plethora of attractive features, including significant discounts on travel and hotel bookings, complimentary annual memberships to OTT streaming platforms, and vouchers for popular e-commerce sites. These benefits ensure substantial savings for users, setting a high standard in customer satisfaction. Notably, there is no minimum order value required for travel bookings, enabling cardholders to enjoy perks year-round without having to wait for specific discount days.

Rahul Dravid, Zaheer Khan, Karan Johar Invest in Swiggy

Celebrities from entertainment, sports, and business are backing food and grocery delivery platform Swiggy in the unlisted market as it approaches its IPO, despite facing stiff competition from rivals such as Zomato and Zepto.
Cricketers Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna, filmmaker Karan Johar, and actor-entrepreneur Ashish Chowdhry have invested in Swiggy.
Earlier, Swiggy attracted investments from Bollywood actors and entrepreneurs, including Madhuri Dixit Nene, Amitabh Bachchan, and Ritesh Malik, the founder of Innov8, during its pre-IPO funding rounds via the secondary market.

Sep 25, 2024

FCRA Licence of International Cooperative Alliance Cancelled

The Foreign Contribution Regulation Act (FCRA) licence of the International Cooperative Alliance (ICA) was cancelled by the Union Home Ministry for alleged rule violations. The ICA, established in 1895, is an apex body representing cooperatives worldwide and has over 1 billion members.
The MHA placed 10 foreign donors from Australia, America, and Europe on its watchlist, resulting in the Reserve Bank of India instructing banks not to clear funds without MHA permission. These donors work in fields like climate change, environment, and child rights.

Sep 24, 2024

KVS Manian Assumes Office as Federal Bank CEO

KVS Manian has officially taken charge as the Managing Director and CEO of Federal Bank, effective September 23, 2024. He succeeds Shyam Srinivasan, who retired after successfully leading the bank since 2010. Manian joins Federal Bank following a distinguished career at Kotak Mahindra Bank, where he worked for over 25 years and played a key role in its transformation from a non-banking financial company to one of India's leading private sector banks.
An electrical engineer from IIT (BHU) Varanasi, he also holds a postgraduate degree in Financial Management from Jamnalal Bajaj Institute of Management Studies and is a qualified Cost and Works Accountant.

Sep 23, 2024

PM Modi Lays Foundation Stone for PM Mega Integrated Textile Regions and Apparel Park in Maharashtra

Prime Minister Narendra Modi laid the foundation stone for the PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) in Maharashtra's Amravati.
The 1000-acre park is being developed by the Maharashtra Industrial Development Corporation (MIDC) as the State Implementation Agency. The central government had approved setting up 7 PM MITRA Parks for the textile industry.

Sep 22, 2024

Govt. Cuts Port Charges to Reduce Export Costs

The government announced a cut in certain charges at ports and the purchase of five additional used container vessels by Shipping Corp as part of steps to resolve shipping-related woes being faced by exporters and importers.
These decisions were taken in an inter-ministerial meeting, held here under the chairmanship of Commerce and Industry Minister Piyush Goyal.
The meeting was held to address rising freight costs, shipping delays, shortage and non-availability of containers and congestion at ports being faced by exporters.

Yes Bank and Paisabazaar Launch Feature-rich 'PaisaSave' Cashback Credit Card

Paisabazaar, India's leading online marketplace for consumer credit and free credit score platform, partnered with Yes Bank, India's sixth largest private sector bank, and unveiled their co-branded credit card – Yes Bank Paisabazaar PaisaSave Credit Card.
The PaisaSave Credit Card is designed to reward frequent shoppers by offering substantial cashback on everyday purchases, both online and offline, making it a must-have for the value-conscious customers.

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