General Awareness

BUSINESS AND ECONOMY - June 2017

Jun 2017

Oct 06, 2022

Sandeep Kumar Gupta Takes Charge as CMD of GAIL

Sandeep Kumar Gupta assumed charge as the chairman and managing director of GAIL (India) Limited. Gupta, who replaced Manoj Jain, has a wide experience of over 34 years in the oil and gas industry. Before joining GAIL, he was working with Indian Oil Corporation (IOC) since 2019. Gupta is a commerce graduate and a fellow of the Institute of Chartered Accountants of India. In June, the Public Enterprises Selection Board (PESB) had selected him for the top role at GAIL after interviewing 10 candidates.
GAIL Limited is a central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in GAIL Bhawan, New Delhi. Its operations are overseen by the Ministry of Petroleum and Natural Gas.

Historic MoU Signed to Launch India's Rupay Debit Card in Oman

The National Payments Corporation of India (NPCI) and the Central Bank of Oman (CBO) signed a landmark MoU to launch the Rupay Debit Card in Oman. This agreement between the two countries has opened the way for a new era of financial connectivity. The MoU was signed in the presence of Minister of State for External Affairs V Muraleedharan. Muraleedharan also met Tahir Al Amri, Executive Chairman of the Central Bank of Oman. The Minister of State for External Affairs arrived in Oman's capital Muscat on Monday for a two-day visit to strengthen ties between the countries.

Oct 05, 2022

Four Indian-Americans, Including IndiGo's Gangwal, in Forbes 400 Rich List

Indian-Americans Vinod Khosla, Romesh Wadhwani and Rakesh Gangwal made it to the Forbes 2022 list of 400 wealthiest Americans with Zscaler CEO Jay Chaudhry leading the pack with a net worth of $8.2 billion.
Overall, Tesla's Elon Musk earned the top spot for the first time, unseating former Amazon CEO Jeff Bezos, who had held the top spot for four consecutive years.
As a group, the 400 wealthiest Americans are worth $4 trillion, $500 billion less than last year.

T. Rajkumar Re-elected as Chairman of Confederation of Indian Textile Industry

Confederation of Indian Textile Industry (CITI), a leading trade body of Indian textile industry, unanimously re-elected T. Rajkumar as Chairman, Rakesh Mehra as Deputy Chairman, CITI and Ashwin Chandran as Vice Chairman of CITI.
The organisation held its 64th Annual General Meeting (AGM) with the newly reconstituted Committee electing the top team.
T. Rajkumar urged the industry captains to work hard to achieve the target of having a market size of US $ 350 billion, which includes the export target – set by the Union Minister of Textiles for textile and apparel Industry – of US $ 100 billion by 2025-2026.

EXIM Bank Extends $100- mn LoC to Maldives for Development Projects

Exim Bank extended a line of credit of USD 100 million to the Maldives for financing developmental projects.
Exim Bank's overall commitment to the strategically important island nation located in close proximity went to six lines of credit totalling USD 1.43 billion.
Projects being funded through the LOCs include Greater Male' Connectivity Project, Water and Sewerage Projects, Addu Development Project, International Cricket Stadium Project, Defence projects, Gulhifalhu Port Project, Hanimaadhoo Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project and Sports Infrastructure.
An agreement was signed in Male by Maldives' Minister of Finance Ibrahim Ameer and Exim Bank's general manager Nirmit Ved.
With the signing of this LOC agreement, Exim Bank has now 311 lines of credit covering 67 countries in Africa, Asia, Latin America Oceania and the CIS, with credit commitments of around USD 32.31 billion.

Oct 04, 2022

Govt. Issues Draft Guidelines for Listing of Regional Rural Banks

In a bid to enable regional rural banks (RRBs) to raise resources by listing on stock exchanges, the government issued draft guidelines that set certain basic criteria, including net worth of at least Rs. 300 crore during the previous three years.
They should also have capital adequacy above the regulatory minimum level of 9% in each of the preceding three years.
The RRBs should have a track record of profitability and earned operating profit of minimum Rs. 15 crore for at least three out of the previous five years, according to the draft guidelines issued by the finance ministry.
Besides, there should not be any accumulated loss and the lender should have given return on equity of minimum 10% in three out of the preceding five years.

TCS Set to Win $2-billion Deal from BSNL for 4G and 5G Roll-out

Tata Consultancy Services (TCS) is set to secure a $2 billion deal from Bharat Sanchar Nigam (BSNL) to roll out its 4G and 5G services across the country. However, the final approvals from the publicly-owned telco may take a couple of months.
As part of the deal, TCS will develop 4G core and Radio Access Network (RAN) technology for BSNL's telecom services. The country's largest IT firm would be the first domestic company to provide these solutions on a large scale. Earlier, Texas-based Mavenir was considered to be the main contender to provide 4G core technology to BSNL.

Adani Greens Forms 3 New Subsidiary Companies for reNewable Energy Business

Adani Renewable Energy Holding Four Limited said that the company incorporated three new subsidiary companies for renewable energy business.
Adani Green Energy Ltd (AGEL) said that Adani Renewable Energy Holding Four Limited is its subsidiary and the newly incorporated entities are its step-down subsidiaries.
The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy.
The three new subsidiary companies are Adani Renewable Energy Thirty Six, Adani Renewable Energy Forty Limited and Adani Renewable Energy Forty Seven Limited.

Oct 03, 2022

SEBI Approves New Option for Appointment, Removal of Independent Directors

SEBI approved introduction of a new option for appointment and removal of independent directors from the boards of companies.
The move will provide flexibility in the approval process for appointment or removal of independent directors.
Once the amended rules are in place, the appointment and removal of independent directors could be done by way of two parameters -- threshold for ordinary resolution and threshold for majority of minority shareholders.
Currently, the appointment, re-appointment or removal of independent directors is to be made through a special resolution.

Hindustan Shipyard Registers Highest Value of Production in its History

State-run Hindustan Shipyard Limited (HSL) posted the highest value of production worth Rs. 755 crore in the PSU's history during the financial year 2021-22.
As per Chairman and Managing Director of HSL Hemant Khatri, despite various challenges due to the partial lockdown and restrictions during second and third COVID waves, the state-run entity posted the highest value of production with all three major business segments contributing to this.
He said that the value of production target would be more than Rs. 1,000 crore during the current financial year.

S. Bharathan Appointed Director-Refineries at HPCL

S. Bharathan took over as Director-Refineries of Hindustan Petroleum Corporation Ltd (HPCL), a Maharatna Company.
Prior to taking over as Director-Refineries, Bharathan was serving as Executive Director-Refineries Coordination with Additional Charge of Research and Development (R&D).
Bharathan has wide exposure to the Refinery Operations of the Company and has worked in the Operations and Technical Departments of Mumbai and Visakh Refinery for over 25 years.
He has also worked in the Corporate Office on Margin Management and Refinery Project Process for over four years. Further, he is also leading HPCL's Green R&D Centre (HPGRDC) in Bengaluru for the last three years. Under him, HPGRDC reached the filing of about 380 patents.

Aditya Birla Health Insurance Launches Activ Fit health Insurance Policy

Aditya Birla Health Insurance launched of Activ Fit, a comprehensive health insurance plan for young and healthy adults. Targeted at consumers who are health aware and active, this new product by ABHICL is a first-of-its-kind in the industry and looks at rewarding them for their good health behaviour.
The new Activ Fit plan provides an upfront 10% good health discount basis an assessment done through a unique facial scan, upto 50% HealthReturnsTM on being active and 100% Binge Refill to ensure that health insurance becomes an attractive proposition for the cohort.

Oct 02, 2022

IndiGo Inducts First Freighter Aircraft, Converted from a Passenger Plane

No-frills carrier IndiGo inducted its first freighter aircraft, converted from a passenger plane.
The airline is already a market leader in the domestic passenger segment in the country with a fleet of over 275 aircraft, operating over 1,600 daily flights to and from 74 domestic destinations.
In addition, as part of its international operations, it caters to 26 destinations in the overseas market.
The induction of A321 P2F (passenger to freighter) would help the airline offer cargo services on both domestic and international routes.
The aircraft would be able to service markets between China in the east and the Gulf in the west, as well as the CIS countries to the north.

PNB to Sell Its Entire Stake in ARCIL

State-owned lender Punjab National Bank (PNB) announced plans to sell its entire 10.1% stake in Asset Reconstruction (India), amounting to 3.25 crore shares. The deal is expected to be completed by December 2022.
The sale process of PNB stake in Asset Reconstruction (ARCIL) is subject to the approval of the RBI, and when completed the bank will cease to be a sponsor of ARCIL.
The bank is selling its shareholding in ARCIL as the Reserve Bank of India (RBI) norms stipulate that a bank can sponsor only one asset reconstruction company (ARC) and its stake in other ARC should be less than 10%.

Rajeev Ranjan Appointed MD of McDonald's North and East India

Fast food chain McDonald's North and East India elevated Rajeev Ranjan as the chain's Managing Director for the region.
Ranjan will continue to report to Sanjeev Agrawal, chairman, McDonald's India North and East. Ranjan joined the company in 2020 as senior director and was named as the chief operating officer in 2021.
The McDonald's business is split between two development licensees in India - Connaught Plaza Restaurants Pvt. Ltd that operates the chain's business in North and East India; its South and West operations are managed by Mumbai-based Westlife Development Limited.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

August GK, July GK, June 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