General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Aug 21, 2018

Southern States Outshine in Mobile Banking

According to a report by The Boston Consulting Group (BCG), southern States are outshining the rest of India in mobile banking adoption in savings accounts.

Telangana tops the table with 10% of savings bank accounts having at least one mobile banking transaction in the last six months of FY18.

This is followed by Andhra Pradesh (6.30%), Karnataka (5.50%), Puducherry (5.80%), Tamil Nadu (5%) and Kerala (4.70%). The all-India average is 3.40%.

RIL Pips TCS Once again

Reliance Industries Limited (RIL) once again pipped Tata Consultancy Services to become India's most valued company in terms of market capitalisation.

At the end of trade on BSE, RIL commanded a market capitalisation of Rs. 7,82,636.38 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a market capitalisation of Rs. 7,69,696.75 crore.

Ola Kicks Off UK Operations

Ride hailing platform Ola has started its services in the UK market, beginning with South Wales.

It will be the only ride-hailing app in South Wales to offer customers the option of private hire vehicles (PHVs) and taxis on one user-friendly platform.

Airtel and Zee Entertainment Alliance

In one of the largest content partnerships in the country, Bharti Airtel ("Airtel") and ZEE Entertainment Enterprises Ltd. ("ZEEL") announced a strategic alliance aimed at driving the growth of digital/OTT video content ecosystem in India.

Hyundai Partners Revv

South Korean automobile major Hyundai Motor Company announced a partnership with Revv, an Indian self-drive car sharing start-up. The partnership will help the two firms build competency and the technology necessary for leading the "future mobility market" in India.

Aug 20, 2018

Walmart Flipkart Deal Complete

US-based retail giant Walmart Inc has completed the deal with Flipkart and now holds 77% stake in the Indian e-commerce major.

The remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft Corp.

Panel on Cyber Safety Set Up

Pension Fund and Regulatory Development Authority (PFRDA) has set up a standing committee to suggest steps to deal with cyber security challenges to protect the interest of subscribers.

The committee on 'Information Systems and Technology and Cyber Security' will suggest steps to align PFRDA's technology with best industry practices.

Mundra Appointed Director of Indiabulls HF

Indiabulls Housing Finance (IBHFL) the country's second-largest housing finance company, appointed Mr. S. S. Mundra, former Deputy Governor of the Reserve Bank of India, as an independent director on the board of the company.

Mr. Mundra's appointment is for a period of three years.

Aug 19, 2018

M. D. Ranganath Resigns from Infosys

Chief Financial Officer of Infosys M. D. Ranganath has resigned from the company.

He worked with Infosys for about 18 years, and will continue in his current position till November 16, 2018.

DoT Blacklists Guarantees

The telecom department has blacklisted bank guarantees issued by Standard Chartered after the bank failed to invoke one that was issued for Aircel Group.

DoT (department of telecom) has directed entities that they should not accept bank guarantee (BG) from Standard Chartered Bank, including renewals.

Aug 18, 2018

GAIL Seeks Foray into Solar Power Plants

State-owned GAIL India has sought shareholder nod to amend the charter of the company to invest in start-ups, build solar power plants and set up battery charging stations for electric vehicles as it looks to diversify its portfolio beyond gas and petrochemicals.

The nation's biggest natural gas transporting and marketing company wants to insert six new sections in the main objects clause of the memorandum of association of the company.

TruJet and Jet in Talks to Sub-lease Planes

Beleaguered Jet Airways is in an advanced stage of discussions with TruJet to sub-lease up to seven of its ATR planes to the regional airline as it seeks to reduce costs and mop up additional revenues. These planes are likely to be sub-leased with complete crew, maintenance and insurance.

India Bans Petcoke Import

India banned the import of petcoke for use as fuel, but allowed select shipments for use as feedstock in certain industries.

Import of petcoke is allowed only for cement, lime kiln, calcium carbide and gasification industries, when used as the feedstock or in the manufacturing process on actual user condition.

Aug 17, 2018

UPI 2.0 Version Unveiled

RBI Governor Urjit Patel unveiled UPI version 2.0 which will allow customers to use overdraft limit for making payments for merchants.

The second version of the Unified Payments Interface (UPI) will also enable customers to check the invoice sent by merchant prior to making payment.

Kotak Mahindra Bank to Open over 100 Branches

As per reports, Kotak Mahindra Bank is planning to open 100 new branches across the country in the current fiscal year.

At present the bank has all India network of 450 branches and 969 ATMs.

Expanding branch network will help to boost premium banking business.

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