General Awareness

BUSINESS AND ECONOMY - September 2016

Sep 2016

Sep 09, 2025

India and Israel Sign Bilateral Investment

India and Israel signed a landmark Bilateral Investment Agreement (BIA) that is expected to boost reciprocal investments and strengthen trade ties between the two countries. The agreement was inked by India's Finance Minister Nirmala Sitharaman and Israel's Finance Minister Bezalel Smotrich.
The treaty was signed during Smotrich's three-day visit to India.
A Bilateral Investment Treaty (BIT) is a reciprocal agreement between two nations aimed at promoting and protecting foreign investors of one country in the other. It guarantees protection under a legal framework and ensures fair and equitable treatment, protection from expropriation, and free transfer of funds.

HCLTech Names Ex-G20 Sherpa Amitabh Kant as Independent Director

HCL Technologies appointed former G20 Sherpa Amitabh Kant as an Independent Director for a term of five years.
Amitabh Kant's five-year term will expire on September 7, 2030. His appointment was recommended by the firm's Nomination & Remuneration Committee.
Kant, a former IAS officer of the 1980 Kerala cadre batch, is known for his role in several key national initiatives, including 'Make in India', 'Start-up India', and the 'Incredible India' tourism campaign. He most recently served as India's G20 Sherpa during the country's presidency of the grouping.

Sep 08, 2025

India Reaffirms Commitment to WTO - Centred, Fair Trade System at SCO Trade Ministers' Meeting

India reaffirmed its commitment to an open, fair, and inclusive multilateral trading system with the World Trade Organization (WTO).
At the Shanghai Cooperation Organisation (SCO) Trade Ministers' Meeting held in Vladivostok, India also stressed the scope to leverage the SCO's collective strengths for shared prosperity.
The Commerce and Industry Ministry said the country highlighted the need for export diversification, reducing dependency, and building resilient supply chains.

PNB Signs MoU with Rajasthan Govt. for Rs 21,000 crore Financial Assistance

Public sector bank Punjab National Bank signed a MoU with the government of Rajasthan. The objective of this understanding is to facilitate an investment of Rs. 21,000 crore under the state government's 'Rising Rajasthan' initiative.

Sep 07, 2025

Adani Power, Druk Green Power to set up a 570 MW hydro power project in Bhutan

Adani Power Ltd. and Druk Green Power Corp. Ltd. (DGPC), Bhutan's state-owned generation utility, have signed the Shareholders Agreement (SHA) for setting up a 570 MW Wangchhu hydroelectric project in Bhutan.
An in-principle understanding on the Power Purchase Agreement (PPA) has also been signed.
The developers have also signed the Concession Agreement (CA) for the project with the Royal Government of Bhutan.
These agreements will pave the way for Adani Power and DGPC to initiate the implementation of the peaking run-of-river Wangchhu hydroelectric project on a BOOT (Build, Own, Operate, Transfer) model.

Voluntary HUID-Based Silver Hallmarking Begins in India

India has introduced Hallmarking Unique Identification (HUID)-based hallmarking for silver jewellery and articles on a voluntary basis, marking a significant upgrade in how consumers verify the purity and authenticity of silver products.
The move by the Bureau of Indian Standards (BIS) aims to bring silver jewellery in line with the already established gold hallmarking system, using a digitally traceable format that empowers buyers and safeguards consumer interests.

Ashwini Vaishnaw inaugurates state-of-the-art advanced lithium-ion battery plant in Haryana

Union Minister of Electronics and Information Technology Ashwini Vaishnaw inaugurated TDK Corporation's Advanced Technologies Lithium-ion (Li-ion) Battery Manufacturing Plant at Sohna, Haryana.
The state-of-the-art plant will produce about 20 crore (200 million) battery packs every year, covering nearly 40% of India's annual requirement of 50 crore packs. With a huge scope for expansion, the facility is poised to strengthen the country's electronics manufacturing ecosystem.

Sep 06, 2025

Citibank Appoints JPMorgan Veteran as Asia Pacific Co-head

US-based Citibank on Wednesday said it has appointed Kaustubh Kulkarni as co-head of its investment banking coverage for Japan, Asia North and Australia, and Asia South. Kulkarni will serve alongside Jan Metzger, who is the head of Asia Pacific Banking, Capital Markets and Advisory.
He will join in December, subject to necessary approvals, and will be based in Singapore.
Prior to this, Kulkarni was with JP Morgan as the US-based bank's senior country officer for India and vice chair of Asia Pacific region.

UPI Limit Increased to Rs. 10 Lakh for Select Transactions

Starting September 15, 2025, the National Payments Corporation of India (NPCI) will implement revised UPI transaction limits for specific high-value payment categories.
The per-transaction limit has been increased to Rs. 5 lakh, and the 24-hour aggregate limit raised to Rs. 10 lakh for several services, including insurance, capital markets, government tax payments, and credit card payments—a significant step in expanding UPI's role in India's digital financial ecosystem.

India-EFTA Trade Pact to Begin October 1, 2025

India's free trade agreement (FTA) with the European Free Trade Association (EFTA) bloc will officially come into force on October 1, 2025. The deal not only promises major economic benefits but also, for the first time in India's trade history, introduces legally binding sustainability provisions covering environment, labour, and human rights.

Sep 05, 2025

Maharashtra Approves Longer Working Hours in Private Sector

The Maharashtra cabinet, led by Chief Minister Devendra Fadnavis, has approved amendments to labour laws that will increase the maximum daily working hours for private sector employees. This decision, aimed at attracting investments, creating jobs, and protecting workers' rights, aligns Maharashtra with states such as Karnataka, Tamil Nadu, Telangana, Uttar Pradesh, and Tripura, which have already adopted similar reforms.

Department for Promotion of Industry and Internal Trade (DPIIT) and ICICI Bank Join Hands to Boos...

In a significant move to nurture the startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with ICICI Bank to extend targeted support to DPIIT-recognised startups across India. The partnership, formalized in September 2025, is hosted under the Startup India initiative and is designed to offer startups a structured engagement programme involving accelerator access, mentorship, pilot opportunities, and ecosystem integration.
Under this MoU, ICICI Bank will launch a comprehensive Startup Engagement Programme that will be hosted on the Startup India portal. The programme will be aligned with Startup India's broader communication and outreach efforts to ensure widespread visibility and participation.

Union Cabinet Approves Scheme to Promote Critical Mineral Recycling in Country

The Union Cabinet, chaired by Prime Minister Narendra Modi approved a Rs. 1,500 crore Incentive Scheme to develop recycling capacity in the country for the separation and production of critical minerals from secondary sources.
This scheme is part of the National Critical Mineral Mission (NCMM), which is aimed at building the domestic capacity of and supply chain resilience in critical minerals.
The Scheme will have a tenure of six years from FY 2025-26 to FY 2030-31.

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