General Awareness

BUSINESS AND ECONOMY - December 2015

Dec 2015

Aug 25, 2025

RBI Names Indranil Bhattacharyya as New MPC Member ahead of October Meet

The Reserve Bank of India (RBI) named Executive Director Indranil Bhattacharyya as the newest internal member of the Monetary Policy Committee (MPC), a panel that decides on the policy interest rate in India.
Bhattacharyya will replace Rajiv Ranjan, who is due to retire before the next MPC meeting that is due to take place between September 29 and October 1.
Bhattacharyya was appointed the RBI's Executive Director in March (2025). He has nearly three decades of experience across areas such as monetary policy, fiscal policy, banking, and international economic relations.

Uttar Pradesh International Trade Show Returns for its Third Edition

Uttar Pradesh's rich traditions, entrepreneurial spirit, and artisans' skills are set to take centre stage on the global platform as the Uttar Pradesh International Trade Show (UPITS) returns for its third edition at the India Expo Mart, Greater Noida, from September 25 to 29.
The mega event will showcase the strength of 'Made in UP' products--highlighting both the state's cultural identity and industrial power--to investors and buyers from across the world.
This year's (2025) edition is drawing unprecedented global participation.
Over 500 buyers from 80 countries are expected, with 340 buyers from 75 nations already confirmed.

APEDA to Open New Regional Offices in Patna, Raipur, and Dehradun to Boost Agri Exports

In a move to strengthen India's agricultural export ecosystem, the Agricultural and Processed Food Products Export Development Authority (APEDA) announced the opening of three new regional offices in Patna, Raipur, and Dehradun. This strategic expansion is designed to better support agricultural exporters across underserved regions and facilitate smoother export processes.
APEDA, an autonomous body under the Ministry of Commerce and Industry, is headquartered in New Delhi and currently operates 16 regional offices in key cities such as Mumbai, Bengaluru, Kochi, Bhopal, Varanasi, Srinagar, Jammu, Ladakh, and Guwahati.
The addition of Patna (Bihar), Raipur (Chhattisgarh), and Dehradun (Uttarakhand) brings APEDA's presence closer to several agri-producing states that have high export potential but limited institutional support.

Srinivasan K. Swamy Re-Elected as President of AAAI for 2025-26

The Advertising Agencies Association of India (AAAI) re-elected Srinivasan K. Swamy, Executive Group Chairman of R K Swamy Ltd, as its President for 2025-26. His reappointment reflects the industry's continued trust in his leadership.
Srinivasan K. Swamy is a seasoned leader in the advertising and communications sector, widely respected for his contributions to the growth and professionalisation of the industry.
Founded in 1945, the Advertising Agencies Association of India (AAAI) is the apex body of advertising agencies in the country.

Aug 24, 2025

ChatGPT Maker OpenAI Confirms Plans to Open 1st India Office

ChatGPT maker OpenAI confirmed plans to open its first India office in New Delhi later this year (2025), alongside new data highlighting the rapid adoption of its tools in the country.
Opening an office in India reflects OpenAI's support for the government's IndiaAI mission and commitment to partnering with the government to build "AI for India, with India.
It will also allow OpenAI to better serve its users in India, including the millions of students, educators, professionals, and developers who use OpenAI's tools to learn, be more creative, and solve problems for themselves and others.

Payments Council of India Re-appoints Patel, Srinivasu

Payments Council of India (PCI) announced that the executive council of the association unanimously approved the re-appointment of Vishwas Patel, Joint MD, Infibeam Avenues Ltd, as the chairperson.
Besides, the Council which represents non-banking payments ecosystem also appointed M. N. Srinivasu, Director, BillDesk, as the co-chairperson.
Their term in office is set for two years between 2025 and 2027.

Aug 23, 2025

UIDAI Unveils Aadhaar-based Authentication Framework for Cooperative Banks

The Unique Identification Authority of India (UIDAI) rolled out a new framework to onboard Cooperative Banks and enable them to deliver Aadhaar-based authentication services, giving a strong push to last-mile banking and digital inclusion.
The framework has been developed in close consultation with the Ministry of Cooperation, NABARD, NPCI and cooperative banks. It will cover all 34 State Cooperative Banks (SCBs) and 352 District Central Cooperative Banks (DCCBs) across the country.
Under the new system, the process of adopting Aadhaar services has been made simpler and cost-effective. Only the State Cooperative Banks will be registered with UIDAI as Authentication User Agencies (AUA) and eKYC User Agencies (KUA).

Aug 22, 2025

Department of Posts Collaborates with Maharashtra's MSSIDC to Enhance MSME Competitiveness

The Department of Posts (DoP) and the Maharashtra Small Scale Industries Development Corporation Ltd. (MSSIDC) entered into a strategic collaboration to strengthen support for Micro, Small and Medium Enterprises (MSMEs) in Maharashtra.
This partnership is aligned with the Raising and Accelerating MSME Performance (RAMP) Programme and aims at enhancing MSME competitiveness through institutional collaboration.
The Department of Posts, with its rich legacy of more than 170 years, has been a cornerstone of India's communication and financial inclusion framework.

Aug 21, 2025

India and Eurasian Economic Union Sign Terms of Reference to Launch FTA Negotiations

India and the Eurasian Economic Union (EAEU), comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and Russia signed the Terms of Reference (ToR) to launch negotiations on a Free Trade Agreement (FTA).
The ToR was signed by Additional Secretary, Department of Commerce, Government of India, Ajay Bhadoo, and Deputy Director, Trade Policy Department, Eurasian Economic Commission (EEC), Mikhail Cherekaev.
The ToR provides the framework for negotiations and is expected to unlock untapped trade potential, increase investments and establish a stronger, durable India-EAEU economic partnership.

Flipkart Expands Footprint in Northeast

Flipkart expanded its footprint in Northeast by unveiling its first grocery fulfilment centre in Agartala, Tripura.
Flipkart's first grocery FC in the state will support rising consumer demand for online groceries by enhancing serviceability and offering delivery slots as per the consumer's choice across Agartala and nearby areas. Built on deep consumer insights, the facility will offer a curated selection of over 4,000 products across staples such as aata, rice, and pulses in addition to snacks, beverages, personal care, and household essentials. The assortment includes several locally popular brands to cater to the diverse preferences of consumers across Tripura.

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