General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Aug 16, 2018

Rise in Tea Exports

India shipped larger quantities of tea to China and Pakistan in the first half of 2018, when overall tea exports increased to 112.1 million kg, from 107.1 million kg in the year earlier period.

According to data with the Tea Board, total earnings between January and June 2018 were Rs. 2,177.1 crore.

Aug 15, 2018

Kotak's Stake Dilution Plan Rejected

The Reserve Bank of India has rejected Kotak Mahindra Bank's claim that promoter's stake had been reduced in the bank after it issued non-convertible perpetual non-cumulative preference shares (PNCPS).

Wholesale Inflation Eases in July

Wholesale inflation eased to 5.09 per cent in July on account of cheaper food articles, especially fruits and vegetables.

The wholesale price index (WPI) based inflation was recorded at 5.77 per cent in June.

EBay India Shut Down

Flipkart is shutting down eBay India. Now, eBay India will stop taking new orders and is now directing users to Flipkart to buy and sell.

Tata Remains Most Valuable Brand

As per the latest findings by Brand Finance, a U.K.-based independent brand valuation and strategy consultancy, the Tata brand remained India's most valuable brand this year.

After years of below 5% growth in brand value, the Tata group surged ahead with 9% growth in brand value. At this valuation, Tata's brand value is even higher than Airtel and Infosys, which are No. 2 and No. 3, respectively.

Last year too, the Tata brand was ahead of the rest at $13.1 billion.

Aug 14, 2018

Egon to Help BBB

The Indian Banks' Association has appointed Egon Zehnder International as a 'Knowledge Partner' to the Banks Board Bureau to design, implement and institutionalise a flagship leadership development strategy for public sector banks in India.

In addition, Hay Consultants Private Limited (part of the Korn Ferry Group) will assist the bureau in assessing leadership competencies and potential capabilities of candidates appearing in the process for appointment as wholetime directors of public sector banks.

Infosys to Build Software Centre in Bengal

Infosys Ltd would open a software development centre in the West Bengal, with an investment of about 1 billion rupees ($14.28 million).

The first phase of construction on the 525,000-square feet facility will be able to accommodate 1,000 employees.

India Cements Board Gets New Directors

The board of The India Cements Ltd. has induction of three new members.

The three new directors are: Basavaraju, Lakshmi Aparna Sreekumar and Sandhya Rajan.

These three were appointed to the board based on the recommendation of the nomination and remuneration committee.

Retail Inflation Slows

As per government data released, retail inflation fell to nine-month low of 4.17 per cent in July on account of slowdown in prices of vegetables and fruits.

Its previous low was in October 2017 at 3.58 per cent.

Usha Ananthasubramanian Dismissed

The government has dismissed Usha Ananthasubramanian, former managing director of Punjab National Bank and Allahabad Bank, from service.

Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case but had continued to be an employee of the bank.

Aug 13, 2018

Tightening of Credit Standards

A survey conducted by FICCI and Indian Banks' Association (IBA) showed more respondents claiming they had tightened credit standards during January-June 2018.

A total of 22 public sector, private sector and foreign banks participated in the survey, which is conducted twice a year. These banks together represent 64% of the banking industry, as classified by asset size. This round has been conducted at a time when NPAs have shot past the Rs. 10-lakh crore mark and continue to rise.

IHCL Signed Pact with Hayre Group Ltd.

Indian Hotels Company Limited (IHCL) has signed an agreement with Hayre Group Ltd. to operate a Vivanta hotel at Heathrow Airport in London.

The 108-room hotel, to be located across terminals 1,2 and 3 of the Heathrow Airport, is scheduled to be operational in 2021.

IHCL was the first Indian hospitality firm to foray into the U.K. with the iconic St. James' Court hotel in 1982.

Aug 12, 2018

Sales of Surplus Wind Energy

Wind energy generators have urged State Electricity Boards to arrange to sell surplus energy generated through power exchanges and not to back down on renewable energy generation.

This was a key resolution passed at the annual meeting of the Indian Wind Power Association.

Coal India Net Soars

Coal India Ltd. (CIL) has posted a 61% jump in consolidated net profit at Rs. 3,786.44 crore for the June quarter of FY 2018-19.

During the reported quarter, the government divested 0.225% stake by way of placement of shares in 'Bharat 22-ETF'. After the divestment, the Government of India holds 78.32% equity in CIL.

Glenmark Inks Pact with True North

Glenmark Pharmaceuticals has entered into a collaboration with private equity firm True North for its orthopaedic and pain management business for India and Nepal markets. Under this, Glenmark's orthopaedic and pain management business, valued at Rs. 635 crore, will be transferred to a new entity to be incorporated by True North.

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