General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Nov 21, 2018

R. Chandrashekhar Resigns

In a third resignation from the YES Bank board, independent director Rentala Chandrashekhar put in his papers.

The private sector lender is expected to overhaul its board after receiving nod from its promoters.

Kathpalia Appointed to ED Post

Air India's former director for operations Capt. Arvind Kathpalia, who lost the post early this month for twice failing to clear alcohol tests before operating a flight, has been appointed to the position of executive director (ED).

Kathpalia has been serving the national carrier since the late 1980s.

HDFC Bank to Hike Stake in CCIL

HDFC Bank will raise its stake in Clearing Corporation of India Ltd (CCIL) to 9% by acquiring 20 lakh shares of the company.

The deal is for a cash consideration of Rs. 124 crore.

The transaction is for acquisition of 4% equity in CCIL. The bank currently holds 5% of the total equity capital of CCIL.

Investment into Personalised Solutions

Bosch Home Appliances will invest €100 million over the next four years into personalised solutions, brand building, strengthening its technology centre, and setting up a robust refrigerator factory in India.

Nov 20, 2018

Bluewater Alkaline Launches Portable Oxygen Can

Bluewater Alkaline Solutions, a city-based pulmonology solutions provider, launched portable oxygen cans OXY99 for the first time in India.

Italian health major ING L and A Boschi manufactured the handy can weighing just 120 g which could be used for 150 inhalations with shelf life of two years.

Besides the 120 g, the company is also manufacturing 75 litres to 1,700 litres lightweight easy-to-carry oxygen cylinders certified by Indian pharmacopoeia.

Bail-out for Jet Airways Ruled Out

The Central government ruled out the possibility of providing any financial bail-out or leeway to cash-strapped Jet Airways, stating that it is the prerogative of the company's management to implement policies to ensure smooth functioning of the airline.

Currently, the airline is facing financial troubles due to an increase in Brent fuel, along with a weak rupee and a mismatch between high fuel prices and low fares.

Launched in 1993, the Mumbai-based Jet Airways currently operates on 66 domestic and international destinations with a fleet of 124 aircraft.

CIL Reappoints Independent Directors

State-owned Coal India (CIL) reappointed five independent directors, Loretta M. Vas, Vinod Jain, D. C. Panigrahi, Khanindra Pathak and S. B. Agnihotri, to its board.

The five independent directors were appointed by the ministry of coal in November 2015, for a period of three years. On completion of their tenure in November 2018, they cease to be independent directors of Coal India board.

With these reappointments, there are seven independent directors at present on the board of the state-run firm.

RBI Agrees to Improve Liquidity

The board of the Reserve Bank of India (RBI) agreed to ease liquidity for the financial sector and increase credit to small businesses.

The board decided to retain the CRAR at 9% and agreed to extend the transition period for implementing the last tranche of 0.625% under the Capital Conservation Buffer (CCB), by one year (up to March 31, 2020).

Nov 19, 2018

Mumbai's Floating Restaurants

Two floating restaurants complete with bars, banquet halls and open decks are open for business off the iconic Gateway of India.

The two restaurants, Queensline Sea Yah and Queensline Neverland, were inaugurated by Union Minister for Surface Transport Nitin Gadkari.

A third floatel will soon begin operations off Girgaum Chowpatty.

U.S. and Europe Firms Looking at India

China is significantly larger as a manufacturing base and has a bigger part of the global supply chain. However, China is now seen as not as cost competitive as it was in the past. Companies in the U.S. and Europe are looking at long-term options to build supply chain capabilities in India as an alternative to China. There is generally a move to de-risk.

Nov 18, 2018

FPIs Investment in November

After pulling out hefty funds in October, foreign investors have pumped in nearly Rs. 8,285 crore into the Indian capital markets so far this month due to fall in crude oil prices, recovery in rupee and improvement in the liquidity situation.

Nov 17, 2018

Jabong to Integrate Fully with Myntra

Online fashion retailer Myntra would completely integrate its sister company Jabong, which will continue to operate as a separate brand.

Myntra CEO Ananth Narayanan will lead the Myntra-Jabong team.

Flipkart had acquired online fashion portal Myntra in 2014 and Myntra acquired Jabong in 2016.

Lanxess to Invest in India

Specialty chemicals major Lanxess will invest €150 million (Rs. 1,250 crore) by 2023 to strengthen its asset base in India. The company has identified India as one of its top four growth regions.

The focus areas of the investment will be chemical intermediates, high-performance plastics and water treatment products.

The company currently has production facilities at Jhagadia and Nagda.

More Say in RBI Decision-making

The government wants greater involvement in the RBI's decision-making as it feels the current practice leaves it out on many critical issues such as single-day default turning a loan into an NPA, ahead of the crucial board meeting of the central bank.

The central board of the RBI is headed by the Governor and includes two government nominee directors and 11 independent directors. Currently, the central board has 18 members, with the provision of it going up to 21.

Australia Threatens to Drag India to WTO Over Sugar Subsidies

Australia threatened to drag India to the World Trade Organization (WTO) for contributing to "a significant downturn in world sugar prices" through its domestic subsidies.An official statement issued in Canberra said the government was "standing up" for the Australian sugar industry's right to a competitive environment by taking action at the WTO on India's sugar subsidies.

According to data from the International Sugar Organization, an intergovernmental body devoted to improving conditions on the world's sugar market, world sugar prices have fallen by around 9% in the past one month. The global sugar prices have been declining for a long time now.

The Indian government had announced incentives to promote sugar exports in the beginning of October. This had two components- assistance for internal transport to facilitate sugar exports worth Rs. 1,375 crore, and a flat payment of Rs. 13.88 per quintal of crushed sugar cane in the 2018-19 season worth Rs. 4,163 crore.

Preethi Kitchen's New Unit in Chennai

Preethi Kitchen Appliances Pvt. Ltd., a 100% subsidiary of Royal Philips, has opened a new facility at Thaiyur to manufacture 1.20 million mixer-grinders per annum.

Philips acquired Chennai-based Preethi Kitchen Appliances during 2011.

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