General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Jan 22, 2023

Tanishq Enters American Market

Tanishq, India's leading jewellery retail brand from the house of Tata, entered the American market and its first store, in New Jersey's Little India, was inaugurated by Senator Robert Menendez.
The 3750+ square foot, two-story showroom on New Jersey's Oak Tree Road, offers over 6,500 unique designs in 18 and 22 KT gold and diamond jewellery, as well as solitaires and coloured stones.
Tanishq has been in the US market through e-commerce for over a year and received positive community feedback.

ICSI Appoints Manish Gupta as New President

The Institute of Company Secretaries of India (ICSI) appointed Manish Gupta as the president and B. Narasimhan as the vice president of the institute. They will be serving for the current year 2023.
Manish Gupta is a law graduate and has a master's degree in commerce. He has been associated with the profession of Company Secretaries for the last 18 years, as a Practicing Company Secretary.
B. Narasimhan is a postgraduate in economics and a fellow member of the Institute of Company Secretaries of India (ICSI) and has over 4 decades of experience in corporate law and management with a special emphasis on the capital market.
The Institute of Company Secretaries of India (ICSI) is a premier professional body set up for the regulation and development of the profession of Company Secretaries in India.

Jan 21, 2023

Manasi Takes Over as Toyota Kirloskar Motor VC

Toyota Kirloskar Motor said that Manasi Tata, daughter of late Vikram Kirloskar, took over as its new Vice Chairperson.
She also took over as the Vice Chairperson of Toyota Kirloskar Auto parts (TKAP).
Tata is already serving as a member of the board of directors at Toyota Kirloskar Motor Pvt Ltd and is an integral part of TKM's corporate decisions and strategic operations.

PNB First Public Sector Bank to Launch Credit Cards for FDs

Punjab National Bank became India's first public sector bank to launch credit cards for its fixed deposit customers. The bank informed its customers via a tweet.
You get a RuPay or VISA credit card online in exchange for one or more FDs with an 80% credit limit.
PNB has raised the interest rate on fixed deposits across all tenures by 50 basis points to draw in more deposits.

Jan 20, 2023

Jaguar Land Rover President and MD Rohit Suri to Hang Boots

Jaguar Land Rover said that Rohit Suri will retire as President and Managing Director of India business with effect from March 31, 2023. Suri is retiring after 14 years in the company.
He had joined Tata Motors as Head of Premier Car Division and led the launch of Jaguar and Land Rover in India in 2009.
As per Jaguar Land Rover (JLR) Overseas Regional Director Martin Limpert, Suri led from the front and played a key role in establishing the marquee brand in India with strong focus on customer centricity and financial and brand strength.

Ambani First among Indians, Second Globally on Brand Guardianship Index 2023

Billionaire Mukesh Ambani overtook the likes of Satya Nadella of Microsoft and Google's Sundar Pichai to be ranked No.1 among Indians and No. 2 globally on the Brand Guardianship Index 2023.
Brand Finance constructs its Brand Guardianship Index in a similar way to the Brand Strength Index that underpins its corporate brand valuations.
Brand Finance's Brand Guardianship Index (BGI) 2023 saw the rise of Nvidia CEO, Jensen Huang, and Mukesh Ambani of Reliance Industries Ltd to 1st and 2nd position respectively.

Jan 19, 2023

South Indian Bank Joins Hands with SAIL for Financing Dealers

South Indian Bank and Steel Authority of India Limited signed an agreement to provide financial assistance to the dealers of SAIL across the country.
This tie-up allows South Indian Bank to offer SAIL's dealers with financial assistance for working capital, especially steel procurement. With its network of 928 branches, it will be able to serve the MSME and corporate customers of SAIL located at different geographies.
The Memorandum of Understanding (MoU) was exchanged between Praveen Joy (Head-Transaction Banking Group) of South Indian Bank and Surendra Kumar Sharma, (CGM- Finance & Accounts) of SAIL. Jiljith J, (AGM & Regional Head- Kolkata, South Indian Bank and Chaitali Deb (GM- Finance & Accounts, SAIL) were also present.

Vedanta's Cairn Oil & Gas Announces Appointment of Nick Walker as New CEO

Vedanta's Cairn Oil & Gas announced the appointment of Nick Walker as the new Chief Executive Officer (CEO) of the company.
Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P companies.
Having worked previously in companies like BP, Talisman Energy and Africa Oil, he has over 30 years of diverse international experience in technical, commercial and executive leadership roles.
He is the sixth CEO of the company since mining billionaire Anil Agarwal-led group bought the company from Scottish explorer Cairn Energy plc in 2011.
Walker came into Cairn Oil & Gas after Prachur Sah quit the firm to join Indus Towers Ltd (formerly Bharti Infratel Ltd) as Managing Director and CEO.

Accenture most Valued IT Brand

Indian IT services firms consolidated their positions in Brand Finance report's rankings for 2023. Accenture retained its position as the most valuable IT services brand globally. TCS and Infosys remained the second and third most valued brands, while increasing their brand value by 2 per cent.
Accenture retained the top slot for the fifth year straight, with a brand valued at $39.8 billion. It is the strongest IT services brand in the ranking with a Brand Strength Index (BSI) score of 87.8 out of 100 and a corresponding AAA brand rating.

Jan 18, 2023

MoU Signed to Facilitate Low Interest Rate Loans to Farmers

To facilitate farmers in getting loans at low-interest rates, Warehousing Development Regulatory Authority (WDRA) signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI).
According to a Ministry of Consumer Affairs, Food and Public Distribution release, the MoU was signed with the intent of promoting awareness about the new loan product called Produce Marketing Loan to exclusively fund against e-NWRs (electronic Negotiable Warehouse Receipt) with features such as Nil processing fee, No Additional collateral and attractive interest rates.
It is envisaged that the product will have far-reaching consequences with regard to the acceptance of e-NWRs among small and marginal farmers. It has the potential to make a significant impact on the finances of rural depositors by preventing distress sales and releasing better prices for their farm produce.

Paytm Payments Bank Receives Approval from RBI as BBPOU

Paytm Payments Bank received final approval from the Reserve Bank of India to operate as a Bharat Bill Payment Operating Unit (BBPOU).
Under Bharat Bill Payment System (BBPS), a BBPOU is allowed to facilitate bill payment services of electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, credit card bill and municipal taxes.
BBPS is owned by the National Payments Corporation of India.
So far, Paytm Payments Bank Ltd (PPBL) has been undertaking this activity under in-principle authorisation from RBI.

Adani, Ashok Leyland to Develop Asia's First Hydrogen-mining Truck

Adani Enterprises signed a deal with Ashok Leyland and Ballard Power to launch a pilot project to develop a hydrogen fuel cell electric truck for mining logistics and transportation, a first in Asia.
The FCET is scheduled to be launched in India in 2023. The demonstration project will be led by AEL, a company focused on both mining operations and developing green hydrogen projects for sourcing, transporting, and building out hydrogen refueling infrastructure. Ballard, an industry leading PEM fuel cell engine manufacturer, will supply the FCmoveTM fuel cell engine for the hydrogen truck and Ashok Leyland, one of the largest manufacturers of buses in the world, will provide the vehicle platform and technical support.

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