General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Jun 22, 2018

Payworld Partners with Reliance MF

Payworld, which specialises in providing financial services for the semi-urban and rural consumers has partnered with Reliance Mutual Fund for financial inclusion of low-income households at the bottom of the pyramid.

Under this partnership, Payworld will facilitate the investments, while the partner asset management company - Reliance Mutual Fund will manage the investments garnered by Payworld. Initially, around 400 retailers will be trained and certified in the first phase.

Taiwanese Companies Urged to Set up Base in Telangana

The Telangana government, which is setting up a dedicated 200-acre park for Taiwanese companies, has urged technology companies from Taoyuan, Taiwan, to consider setting up base in Telangana.

The plea was made by Telangana chief secretary S. K. Joshi, who is heading a delegation to the Taoyuan-India Exchange Forum 2018.

The visit comes after Taoyuan and Telangana had signed a memorandum of understanding (MoU) for cooperation in February 2018.

Norms Eased for Share Buy-backs

As part of its attempts to rationalise stock market regulations, the Securities and Exchange Board of India (SEBI) has amended the rules related to public issues, takeovers and buy-backs based on feedback received from various market participants.

The board of the capital markets regulator decided to give companies more time for the upward revision of open offer price and announcing the price band for an initial public offer (IPO).

Jun 21, 2018

OYO Enters Chinese Market

Hospitality firm OYO has forayed into China as part of expansion plans.

OYO founder and CEO Ritesh Agarwal said, "After our successful operations in Malaysia and Nepal, we are thrilled to offer OYO hotels hassle-free and standardised stay experience to guests in China."

Sriram to be IDBI's Interim Head

The Centre gave B. Sriram, one of the managing directors of State Bank of India, the additional charge of officiating as MD and CEO of IDBI Bank for an interim three-month period.

IDBI Bank's current MD & CEO M.K. Jain has been appointed as RBI deputy governor.

Bids Received for Pawan Hans Stake Sale

As per reports, bids have been received for the strategic stake sale in helicopter services provider Pawan Hans.

A profit-making entity, Pawan Hans is a joint venture between the central government and ONGC. Under the disinvestment proposal, the government offered to offload its entire 51% stake in the company.

Jun 20, 2018

Domestic Air Traffic Growth Slips

According to official monthly data released, domestic air traffic growth decelerated to 16.5% in May the slowest pace so far this year. Air traffic growth this year had varied between 19.7% and 28% in the first four months.

ICICI Prudential Life Gets New MD and CEO

The Board of ICICI Prudential Life Insurance Company has appointed Mr. N. S. Kannan as the Managing Director & CEO of ICICI Prudential Life Insurance Company for a period of five years, subject to regulatory and other approvals.

He takes over from Sandeep Bakhshi who has been appointed as Whole-time Director and Chief Operating Officer of ICICI Bank.

Air India stake sale Put Off

As per reports, the government has decided not to go ahead with Air India stake sale in the election year and will provide required funds for its operations.

The decision comes less than 3 weeks after the proposed 76 per cent strategic stake sale in debt laden national carrier failed to attract any bidder.

Parameswaran Named as Uber's India & South Asia President

US-based cab aggregator Uber elevated Pradeep Parameswaran as President of its India and South Asia operations. He succeeds Amit Jain, who was elevated to the role of Head of Asia Pacific region last month.

Mr. Parameswaran had joined Uber in January, 2017, and was leading operations for Uber in India and South Asia. He has been associated with Hindustan Lever, McKinsey & Co, and Den Networks.

Jun 19, 2018

Investment Norms Eased for FPIs in Debt

The Reserve Bank has eased investment norms for foreign portfolio investors (FPIs) in debt, especially into individual large corporates, a move that can help attract more overseas flows and thereby help arrest the recent fall in the rupee on one hand and also lift the recent fall in demand for corporate bonds.

Saxena Appointed as Executive Vice President & CTO

Havells India has appointed Dr. Mukul Saxena as its executive vice president & chief technology officer (CTO). Saxena will head Havells' Centre for Research and Innovation (CRI) function.

Prior to joining Havells, Saxena headed Siemens Corporate Research & Technologies, India Labs (CTI).

Sandeep Named ICICI Bank COO

Sandeep Bakshi has been appointed as chief operating officer.

CEO Chanda Kochher will be on leave till the completion of the internal enquiry against her in the Videocon loan matter.

Sandeep is currently MD and CEO of ICICI Prudential Life Insurance and would take over as the bank's COO, subject to various approvals.

Jun 18, 2018

Candidates Selected for ED Posts in PSBs

The Banks Board Bureau (BBB) has selected twenty-two candidates for 19 posts of executive directors which will be falling vacant, or are already vacant, in public sector banks (PSBs), in the current fiscal.

About 40 general managers were interviewed from various public sector banks for the selection of executive directors. The interviews were held last week.

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