General Awareness

BUSINESS AND ECONOMY - December 2015

Dec 2015

Dec 01, 2020

Sandeep Kataria New Global CEO of Bata Brands

Leading shoe maker, Bata Shoe Organisation appointed its India Chief Executive Officer Sandeep Kataria as its global CEO, becoming the first Indian to be elevated in this role.
Kataria took over from Alexis Nasard who stepped down after almost five years in the role.
With 24 years of experience at Unilever, Yum Brands and Vodafone in India and Europe before joining Bata India as CEO in 2017, Kataria has been directly involved in leading businesses and brands.

S&P Global to Buy IHS Markit

Data giant S&P Global Inc has agreed to buy IHS Markit Ltd in an all-stock deal worth $44 billion that will be the biggest corporate acquisition of 2020 and create a heavyweight in the increasingly competitive market in financial information.
The deal is expected to close in the second half of 2021 if it can pass reviews by antitrust regulators who have been showing increasing interest in the sector.
S&P Global is best known for providing debt ratings to countries and companies, as well as data on capital and commodity markets worldwide. It became a standalone business in 2011 when its then parent McGraw-Hill separated S&P from its education business.
IHS Markit was formed in 2016 when IHS, whose businesses range from data on automotive and technology industries to publishing Jane's Defence Weekly, bought Markit Ltd for around $6 billion.

Paytm Money to Facilitate Investments in IPO

Fintech major Paytm said that its wholly-owned subsidiary Paytm Money will now facilitate investments in Initial Public Offers (IPOs).
The move is aimed at benefiting retail investors with wealth creation opportunities, as they will be able to seamlessly apply and join the growth story of rapidly expanding companies.
The company has made the process of IPO application completely digital and simple for retail investors to apply for public offers, and will continue to add new tech-savvy features for enhanced user experience.
The company is aiming to capture 8 to 10 per cent of applications market share in the first year of launch.

PFC & REC Extend Term Loan to STPL

Power Finance Corporation (PFC) and REC Ltd. (REC) have executed an MoU with SJVN Thermal (P) Ltd. (STPL) for extending term loan of Rs. 8,520.46 crore for 2x660 MW Buxar Thermal Power Project. STPL is a wholly owned subsidiary of SJVN Limited and executing the project.

Nov 30, 2020

UNDP India Launches GRID for Inclusive Development

UNDP Accelerator Lab India launched the Grassroot Innovation Database (GRID) to foster inclusive development at the community-level, according to a statement.
It contains 1,500 solutions, ranging from simple to complex in design, which can be implemented at the community-level and these innovative solutions have been developed by grassroot communities, individuals, start-ups, students and other innovators from various states across India, the UNDP said in a statement.
The unique database caters to various sectors which include livelihood, natural resource management, agriculture, agro-biodiversity, pest management, water management, farm machinery, biodiversity conservation, augmentation, inclusive growth, waste management, circular economy amongst others.

RBI Advises Lakshmi Vilas Bank to Fully Write Down Tier-2 Bonds Before DBS Merger

Lakshmi Vilas Bank will merge into DBS Bank, leading to removal of all restrictions, including withdrawal cap of Rs. 25,000, which the RBI had placed on the lender earlier this month.
Lakshmi Vilas Bank informed the exchanges that Reserve Bank of India (RBI) has advised the bank to fully write down Rs. 318 crore of its tier-2 bonds before the amalgamation with Singapore-based DBS Bank came into effect on 27 November 2020.

RXIL's First Trade Credit Insurance Transaction in Sandbox with Tata AIG, ICICI Bank and YES Bank

Receivables Exchange of India Ltd. (RXIL) initiated a Trade Credit Insurance (TCI) backed transaction with Tata AIG as the insurer and ICICI Bank, YES Bank as the financiers in Sandbox environment.
This is the first time a TReDS platform has tested the efficacy of TCI backed transaction improving the ability of financiers in assigning credit limits to corporates. TCI, once implemented post regulatory approvals, will enable financiers to discount the invoices drawn on lower rated corporate buyers, by their MSME sellers and will improve the liquidity from lenders.
The adoption of Trade Credit Insurance on TReDS will pave the way for a completely digital bite-sized credit insurance model. Buying credit insurance on TReDS will be as simple as buying travel insurance while buying an air ticket on a travel portal, devoid of the lengthy paperwork generally associated with trade insurance.

Initiated At The Enhancement Of Investor Awareness SEBI Launches SMART's

Markets regulator SEBI launched the Securities Market Trainers (SMARTs) program, an initiative aimed at enhancing investor education and awareness.
"In the present scenario of uncertainty in economic growth and extraordinarily buoyant market, there is a dire need to further ramp up the investor education and awareness efforts," SEBI Chairman Ajay Tyagi said.
"In that sense, there couldn't have been any better time to launch SMARTs, an initiative of SEBI, to strengthen the existing investor education framework," he said in a statement. He also exhorted SMARTs to keep abreast of developments in the securities market and expressed confidence that they would take investor education to all parts of the country. The launch of the SMARTs program comes amid World Investor Week is celebrated across the country.

Nov 29, 2020

YES Bank Launches SMS Pay Functionality for Merchants

Private sector lender YES Bank has launched a special service that would enable merchants to accept contactless and remote payments from their customers.
Called SMS Pay, the functionality on PoS terminals in partnership with Worldline, is aimed at shopkeepers and merchants, including local kirana stores and departmental stores, enabling them to request payments against invoices by simply entering the amount and customer contact details on their PoS machines.
An SMS would then be sent to the customer's mobile number with a payment link, allowing them to pay securely through their domestic debit and credit cards.
This initiative is in line with the bank's commitment to support small and medium businesses in restarting their businesses while providing safety to their customers. SMS Pay is a step towards facilitating merchants to accept remote payments on their PoS machines.

France to Impose Digital Tax on Big tech Companies like Google, Facebook, Apple

France will impose new digital tax on online technology giants for their 2020 earnings, despite a retaliatory threat from the US, impacting US firms Google, Amazon, Facebook and Apple.
Washington has warned that it could retaliate with new tariffs on French imports.
As per reports, the companies subject to this tax have been notified.
Ealier, in May, nearly 140 countries from the Organisation for Economic Cooperation and Development (OECD) were negotiating the first major rewriting of tax rules in more than a generation, to take better account of the rise of big tech companies such as Amazon, Facebook, Apple and Google that often book profit in low-tax countries.

IRDA Okays Bharti AXA, ICICI Lombard Deal

The Insurance Regulatory and Development Authority of India (IRDAI) has given in-principle approval to the acquisition of non-life insurance business of Bharti AXA by ICICI Lombard General Insurance.
The two companies had announced the proposed merger in August this year.
ICICI Lombard is progressing applications for receipt of requisite approvals from other concerned regulators for the transaction.
Upon closing of the proposed transaction, the consolidated entity will have a market share of about 8.7 per cent in the non-life business.

Vodafone Idea Partners Edtech, Healthcare Firms to Generate Revenue

Vodafone Idea (VIL) has teamed up with multiple partners in learning and up skilling, health and wellness space to bring an array of digital products and services, with exclusive benefits for its customers.
The move would enable the telecom operator to enhance digital engagement, build a future stream of revenue and create a brand differentiation, besides positioning it as a larger platform of digital services, beyond the core telephony offerings.
VIL's strategic partnerships with players in the areas of learning and upskilling, health and wellness, and business would enable it to offer benefits and additional proposition to customers. The company has forged partnerships with upGrad, Udemy, Pedagogy, cure.fit, 1mg, MFine, Eunimart and others, and plans to on-board more partners under each of these areas to enable Vi users get exclusive offers from these players.
Vodafone Idea CEO, Ravinder Takkar said, "One of the key pillars of VIL's business strategy is to drive partnerships and digital revenue streams, across segments. This will help us drive more value for our customers and offer growth opportunities for the business".

Nov 28, 2020

Dubai Gets Arab Gulf's First, and Perhaps Last, Coal Power Plant

The United Arab Emirates is set to become the first Arab Gulf country to generate electricity from coal. As governments increasingly turn to cleaner fuels and the price of renewable energy falls, it may also be the last.
Dubai is starting up the $3.4 billion Hassyan coal plant, with capacity being increased from an initial 600 megawatts to 2,400 by 2023. Japan's Jera Co. will supply coal under a long-term agreement with Acwa Power of Saudi Arabia, which is developing the plant.
Other countries in the region have abandoned plans for coal power. Oman launched a tender for a coal project at Duqm in 2018, but it was later shelved.

Dyson to Spend $3.67bn on New Technologies

Dyson says it will invest an additional $3.67bn (£2.75bn) into new technologies and products over the next five years.
The investment will allow the company to double the number of products it sells, and expand into new areas.
The investments will be focused in Singapore, the UK, and the Philippines, and will focus on emerging technologies.
The company announced it would set up its headquarters in Singapore in 2019.
Dyson is best known for vacuum cleaners, air purifiers and hair dryers.
But the new investment will pay for more engineers and scientists in fields such as software, machine learning and robotics.

Japan's Export Credit Agency to Lend $2 Billion to Nissan

Japan's state-owned export credit agency has agreed to give Nissan Motor Co up to $2 billion as part of a credit agreement to help it finance car sales in the United States.
The money is part of a $4.1 billion credit agreement for Nissan Motor Acceptance Corporation, a unit of Nissan North America.
The money should help the Japanese company sell cars in the world's second-biggest auto market after China by allowing it to provide customers with loans that they can repay in monthly installments.
According to JBIC, the United States is an important market for Japanese automobile manufacturers. Sales finance has become an important tool in business strategy.

MG Motor Partners with Tata Power to Launch First Fast Charging Station in Agra

MG Motor India has partnered with Tata Power to set up the first electric vehicle charging station in Agra, Uttar Pradesh. The EV charging station was inaugurated at MG Motor's Agra Showroom as part of the recent NH for EV2020 trial run of battery-powered vehicles from Delhi's India Gate to Agra.
After inaugurating the EV charging station, MG Motor said that it will be open for customers all through the day, seven days a week.
The charging station set up by MG Motor in Agra is a 60 kW superfast EV charging station.
MG ZS EV, MG Motor's first and only EV offering in India so far, can be replenished by up to 80 per cent within 50 minutes with the help of the DC Fast Chargers, like the one installed in Agra.
The launch of the EV trial run from Delhi to Agra by the Government of India is a strong step towards adoption of EVs in our country.

India Has the Highest Bribery Rate in Asia

According to a survey released by global civil society Transparency International, India has the highest bribery rate and use of personal links to access public services such as healthcare and education in Asia.
India has the highest overall bribery rate (39%) and the highest rate of citizens using personal connections (46%).
The report is based upon the survey which was conducted between 17 June and 17 July this year in India with a sample size of 2,000.

Nov 27, 2020

M&M Announce Share Swap Deal to Merge Mahindra First Choice with TVS Automobile

Mahindra & Mahindra Ltd (M&M) announced a share swap deal with TVS Automobile Solutions Pvt Ltd to merge its multi-brand car and two-wheeler service venture -- Mahindra First Choice Services Ltd -- with TASL.
Under the transaction, M&M will acquire 2.76 per cent stake in the TVS Group firm TASL, which is into multi-brand automotive aftermarket and related services, for about Rs. 35 crore.
On the other hand, TASL will acquire the entire stake of Mahindra Holdings Ltd, a wholly-owned subsidiary of M&M, in Mahindra First Choice Services Ltd (MFCS) and its subsidiary Auto Digitech Pvt Ltd (ADPL).
As a part of the transaction, the company will secure a minority stake in TASL and in turn, MFCS and ADPL will become subsidiaries of TAS.
TASL is primarily engaged in the business of distribution of automobile spare parts, and multi-brand vehicle service. TASL is active in Europe, the US, South Africa, China and Turkey through its subsidiaries.

Adani Gas to Change Name to Adani Total Gas

Adani Gas Ltd, the city gas distribution firm of billionaire Gautam Adani's group, will change its name to Adani Total Gas to reflect French energy giant Total's stake in the firm.
After the French giant buying stake, Adani Gas is now "a joint venture company of Adani Group and Total Group, France with 37.40 per cent stake by each promoter and remaining 25.20 per cent with public shareholders.
The company board is headed by Adani and has two nominees of Total - its India head Alexis Thelemaque and Jose-Ignacio Sanz Saiz.

PM Modi Inaugurates RE-Invest 2020

Prime Minister Narendra Modi inaugurated the 3rd Global Renewable Energy Investment called the RE-Invest. The 3rd Global RE-Invest Renewable Energy Investors Meet & Expo was organised by the Ministry of New and Renewable Energy (MNRE), Government of India. It is to be held from 26 – 28 November 2020 on a Virtual Platform. The theme of RE-Invest, 2020 is
Innovations for Sustainable Energy Transition.
COVID-19 has caused significant disruption and reduced the speed of development of renewable energy projects as compared to 2019. In spite of the crisis, the installed renewable capacity of India has increased by two and a half times in the last six years according to PM Modi.
RE-Invest will help the investors to get knowledge about the renewable growth. The partner countries of Re-INVEST are Australia, France, Denmark, Germany, UK, Maldives, European Union and US. The partner states are Gujarat, MP, HP, Rajasthan and Tamil Nadu.

Tube Investments to Allot Shares to Premji Trust and SBI MF

Murugappa Group's Tube Investments will allot shares to Azim Premji Trust, SBI Mutual Fund, subject to shareholder approval. The company has approved the issue of equity shares worth Rs. 350 crore.
The shares will be allotted on a preferential/private placement basis to non-promoter entities.
Azim Premji Trust will be alloted 2,733,360 equity shares, each, fully paid at Rs. 731.70 and inclusive of a premium of Rs. 730.70 per equity share. The total investment would be around Rs. 200 crore.
The SBI-focused equity fund will be allotted 1,503,348 equity shares, each fully paid at Rs. 731.70 and inclusive of a premium of Rs. 730.70 per equity share, aggregating to Rs. 109.99 crore and for SBI Magnum mid-cap fund, 546,672 equity shares, each fully paid at Rs. 731.70 and inclusive of a premium of Rs. 730.70 per equity share, aggregating to Rs. 39.99 crore.

Brazil Emerging as Attractive Destination for Indian Investors

Brazil is emerging as an attractive destination for Indian investors and presents huge potential for South Asia's biggest country. South America's largest economy has a stock of over $ 6 billion of Indian investment. Infrastructure stands out as a key area for profitable investments. Over 50 companies and investors took part at the online event "InfraInvest India-Brazil: Building Bridges, ConnecUng Partners", organised by the India- Brazil Chamber of Commerce, Rio de Janeiro, with the support of the Embassy of Brazil in India, among others. The event takes forward the commitment of both governments to bolster trade and investment announced during the summit between President Jair Bolsonaro and Prime Minister Narendra Modi in January 2020. Bolsonaro was the Chief Guest at India's Republic Day Parade on 26 January 2020 and was accompanied by a high-level delegation which included eight Ministers, four Members of Parliament, senior officials of the Brazilian Government and members of business community. During the visit, an action plan to strengthen the strategic partnership between India and Brazil was adopted which provides a roadmap aimed at revitalising ongoing engagements in a focused manner. Fifteen MOUs/ Agreements in diverse sectors that include Investment, Assistance in Criminal Matters, Cyber Security, Oil & Gas, Bio-energy, S&T, Culture, Animal Husbandry, Health and Traditional Medicines were signed.

Swedish Furniture Giant IKEA to Begin Work on Biggest Outlet in Noida

Swedish flat-pack furniture giant IKEA will soon begin work at its Noida outlet, touted to be its biggest store in India.
The company had signed an MoU with the Uttar Pradesh government in December 2018 for Rs. 5,000 crore investment in Noida and other cities in the state. It has committed to completing the project by 2025.
IKEA, which opened its first outlet in India in Hyderabad in 2018, has proposed to set up an integrated commercial project in Noida giving direct employment to 1,000 and indirect jobs to another 1,000.
The company intends to expand to 40 cities by 2030.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

October GK, September GK, August GK, INTERNATIONAL AFFAIRS, ENVIRONMENT, BUSINESS AND ECONOMY, SCIENCE & TECHNOLOGY, SPORTS, NATIONAL AFFAIRS, DEFENCE, PERSONS IN NEWS, DAYS AND EVENTS, AWARDS AND HONOURS, GOVERNMENT POLICIES AND SCHEMES, GENDER/ HEALTH/ EDUCATION, ART AND CULTURE, BOOKS AND AUTHORS, TOURISM AND HOTEL INDUSTRY AWARENESS, ART AND CULTURE, LAW AND CONSTITUTIONAL AFFAIRS

Start Discussion

On any topic

Take Tests

Compiled from GK updates

Login

Sign Up

Forgot Password

Download TCY App

Unlock All Services and Enjoy The Premium Benefits

US$ 10

US$ 13

US$ 15

US$ 17

US$ 19

US$ 20

US$ 21

US$ 22

US$ 23

US$ 24

US$ 25

US$ 26