General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Sep 22, 2018

Financial Support for India's Transition

The World Bank has endorsed an ambitious five-year framework for India under which it is expected to receive USD 25-30 billion in financial support for its transition from a low-middle income to a high-middle income country.

Oil Field in KG-D6 Block Shut Down

Reliance Industries has permanently shut down its only oil field in the flagging KG-D6 block after production declined to nil.

Reliance Industries (RIL) had till date made 19 oil and gas discoveries in the Krishna Godavari basin. Of these, D26 or MA, the only oil discovery in the block, was the first field to begin production in September 2008. Dhirubhai-1 and 3 (D1 and D3) fields went onstream in April 2009.

Jio Inks Pact with Star India

Reliance Jio has signed a five-year partnership agreement with Star India to make all televised India cricket matches available to users of JioTV and Hotstar in India.

The partnership would cover T20s, ODIs, international test cricket and premier domestic competitions of the BCCI.

Infosys Plans Tech Hub in Arizona

Infosys will open a Technology and Innovation Hub in Arizona and hire 1,000 American workers in the State by 2023.

The Arizona Technology and Innovation Hub will focus on autonomous technologies, Internet of Things, full-stack engineering, data science, and cybersecurity.

KYC Norms for Foreign Portfolio Investors Revised

Markets regulator SEBI issued revised KYC norms for foreign portfolio investors (FPIs), wherein resident as well as non-resident Indians have been permitted to hold non-controlling stake in such entities.

The Securities and Exchange Board of India (Sebi) said it accepted the recommendations by a panel set up to review the rules for foreign portfolio investments.

Sep 21, 2018

Government Appoints 14 EDs

As many as 14 general managers have been appointed as executive directors in different public sector banks.

Some of the people appointed as executive directors are: Shanti Lal Jain, Vikramaditya Singh Khichi, Agyey Kumar Azad, Gopal Singh Gusain, Manas Ranjan Biswal, Vijay Dube and Alok Srivastava.

Numaligarh Refinery Expansion

State-owned Bharat Petroleum Corporation Limited (BPCL) has sought the government's nod for threefold expansion of its Numaligarh refinery in northeast from 3 million tonnes per annum (mtpa) to 9 mtpa at a cost of Rs. 22,000 crore.

ArcelorMittal's Acquisition of Essar Steel

The Competition Commission has approved the acquisition of debt-ridden Essar Steel by a consortium of ArcelorMittal and Japan's Nippon Steel & Sumitomo Metal Corporation.

Interest Rate Hiked on Small Savings

The government has raised interest rates on small savings schemes, including NSC and PPF, by up to 0.4 per cent for the October-December quarter, in line with rising deposit rates in the banks.

Interest rates for small savings schemes are notified on a quarterly basis.

Sep 20, 2018

Banks Get New MDs and CEOs

Mrutyunjay Mahapatra and Padmaja Chundru, both Deputy MDs in the SBI, have been appointed Managing Director (MD) and Chief Executive Officer (CEO) of Syndicate Bank and Indian Bank, respectively.

They are among 10 MDs and CEOs of state-owned banks whose appointments were approved by the Appointments Committee of the Cabinet. Five of the 10 newly named MDs and CEOs are working as deputy managing directors in the SBI.

Samara Capital Buys Aditya Birla Retail

Aditya Birla Group has sold its entire stake in retail arm Aditya Birla Retail Limited (ABRL), which owns and operates food and grocery retail under the 'More' brand, to mid-market private equity firm Samara Capital.

The deal was done at an enterprise value (EV) of Rs. 4,200 crore.

Norms for Overseas Fund Raising Eased

The Reserve Bank eased norms for companies in manufacturing sector to raise overseas funds and allowed Indian banks to market Masala Bonds in line with the government's measures to prop up the rupee.

Liberalisation of the External Commercial Borrowing (ECB) norms was among other measures announced by the government.

Rana Kapoor to Continue as MD and CEO

The Reserve Bank of India (RBI) has allowed Rana Kapoor to continue as Yes Bank MD and CEO till January 31, 2019.

In June this year, Yes Bank's shareholders had approved the re-appointment of Rana Kapoor as the chief executive and managing director for three years, subject to final approval from the RBI.

Sep 19, 2018

India Again Defers Against US Goods

According to report, India has put off retaliatory tariff against 29 American products worth $ 235 million that were to come into force on Tuesday.

This is the third time that India has deferred the tit-for-tat tariff, seen as India's response to the Trump administration raising import duties on Indian steel and aluminium products. According to this report, a decision had been taken to postpone the retaliatory hikes until 3 November since the two countries were attempting to find a solution.

India's 25 most Attractive Startups in 2018

According to a list compiled by internet professional network LinkedIn, hospitality start-up OYO has been named the top start-up company in India, followed by health and wellness firm Cure.Fit, and on-demand delivery service dunzo respectively.

The 2018 LinkedIn Top Startups List for India revealed that Bengaluru has emerged as a major hub for start-ups to rise and shine. Out of the 25 companies on the list, 11 are headquartered in Bengaluru, seven in Mumbai, three in Gurugram and two each in New Delhi and Pune.

Ola Takes on Uber in New Zealand

Indian ride-hailing company Ola announced its plans to enter New Zealand, deepening its battle with U.S rival Uber. Ola's entry into New Zealand follows its successful launch in Australia in February and the U.K. in August.

Ola now enables smart transportation to over 125 million users in India, Australia and the U.K.

Expense Ratio for MF Schemes Cut

The Securities and Exchange Board of India (SEBI) has broadly accepted the recommendations of the H.R. Khan Committee on Know-Your-Client requirements for foreign portfolio investors (FPIs), while lowering the total expense ratio (TER) for open-ended equity schemes, thereby making it less expensive for investors to invest in mutual funds.

Sep 18, 2018

Infosys Hikes Investment in TidalScale

Infosys has made an additional investment of $1.5 million through the Infosys Innovation Fund in TidalScale Inc., a provider of virtual servers.

The IT firm had earlier invested $1.5 million in TidalScale in 2016, with the latest infusion taking the cumulative investment as of date to $3 million.

Flipkart Eyes Stake in Star's Hotstar

E-commerce giant Flipkart has raised the stakes in its battle for video content with rival Amazon by initiating talks to buy a stake in Star India's video streaming service Hotstar.

Flipkart's move comes a month after US-based Walmart completed a $16-billion acquisition of India's largest e-commerce firm.

Three Banks to Be Merged

As per the financial services secretary, the government plans to merge three state-run banks, Bank of Baroda, Dena Bank and Vijaya Bank as part of efforts to clean up the country's banking system.

The government will continue to provide capital support to the merged bank, expected to be India's third largest.

The new merged bank will have a total business of more than Rs 14.82 trillion.

Haryana Government Hiked Monthly Pension

The monthly pension of workers, who are registered with the Construction Workers Welfare Board, was hiked from Rs. 1,000 to Rs. 2,500 in Haryana. Chief Minister Manohar Lal Khattar also announced the setting up of the Haryana Unorganised Workers Social Security Board.

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