General Awareness

BUSINESS AND ECONOMY - August 2017

Aug 2017

Dec 12, 2023

Tata Power Ties Up with Indian Oil to Set Up over 500 EV Charging Stations

Tata Power EV Charging Solutions Ltd (TPEVCSL) signed a memorandum of understanding (MoU) with Indian Oil Corporation Limited (IOCL) to install over 500 electric vehicle (EV) charging points across the country. Tata Power will set up the stations at IOCL's retail outlets.
This strategic collaboration focuses on building a reliable and expansive intercity charging network, which will help alleviate range anxiety for EV owners travelling between cities.
These EV charging points will be installed in major cities like Mumbai, Delhi, Kolkata, Bengaluru, Ahmedabad, Pune, and Kochi, as well as across major highways such as the Mumbai-Pune Expressway, Salem-Kochi Highway, Guntur-Chennai Highway and the Golden Quadrilateral.

Infosys Appoints Jayesh Sanghrajka as CFO as Nilanjan Roy Resigns

Infosys appointed Jayesh Sanghrajka as its Chief Financial Officer (CFO) and key managerial personnel of the company.
Sanghrajka was appointed as CFO as Nilanjan Roy, resigned after serving in this role since 2018.
Sanghrajka has over 25 years of work experience and is a chartered accountant by qualification. He has spent over 18 years at Infosys across two stints and has performed various leadership roles.

Vaishali Kasture Resigns as AWS India's Interim Country Head

Vaishali Kasture, Amazon Web Services (AWS) India and South Asia's interim country head for commercial business, resigned from her position.
She had taken over from the former president of commercial business, Puneet Chandok, in July 2023. Her tenure at AWS spanned nearly five years. Before becoming the interim country head, she was the head of top enterprise, mid-market, and global businesses in India and South Asia.

Dec 11, 2023

Bank of India Launches Nari Shakti Savings Account

Bank of India, a leading public sector bank in India, launched its Nari Shakti Savings Account at the hands of MD & CEO, Rajneesh Karnatak, in the gracious presence of the Board of Directors at the Head Office in Mumbai. This exclusive Savings Bank Product is aimed at catering to women aged 18 and above with an independent source of income.
The Nari Shakti Savings Account is conceptualised as a financial savings tool to support working women with an independent source of income, enabling them to become self-reliant and enjoy a higher degree of financial freedom. For each New Nari Shakti Account opened, the bank will make a contribution of Rs. 10 towards the CSR fund, which will be utilised for the socio-economic development of underprivileged women and the girl child.

Bimal Dayal is New CEO of Adani Infra India

Adani Energy Solutions' transmission business Chief Bimal Dayal was appointed as the CEO of Adani Infrastructure India.
Dayal will oversee the implementation of the pipeline of infrastructure projects in thermal, renewable energy and green hydrogen by Adani Infrastructure India.

Dec 10, 2023

RBI Cancels License of UP Based Urban Co-operative Bank

The Reserve Bank of India (RBI) cancelled the license of Urban Co-operative Bank (UCB) located in Sitapur, Uttar Pradesh.
According to the RBI, the primary reason behind the license cancellation was that the Urban Co-operative Bank ceased to carry on its banking business. The central bank expressed concerns about the bank's financial health, leading to the decision to terminate its operations.

IDFC FIRST Bank's ED Madhivanan Balakrishnan Resigns

The Executive Director (ED) and key managerial personnel of IDFC FIRST Bank, Madhivanan Balakrishnan tendered his resignation.
Madhivanan Balakrishnan joined IDFC FIRST Bank in 2019.

Dec 09, 2023

RBI Keeps Repo Rate Unchanged at 6.5%

Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank's Monetary Policy Committee (MPC) decided to keep the key repo rate steady at 6.5 per cent.
The decision to maintain the key repo rate at 6.5 per cent marked the fifth instance when the 6-member Monetary Policy Committee (MPC) opted to keep the interest rates unchanged.
The RBI Governor highlighted that easing inflation across all components of retail inflation is one of the reasons behind the MPC's decision to keep the repo rate unchanged.

RBI Hikes UPI Limit for Hospital, Educational Payments

The Reserve Bank of India raised the UPI payment limits to Rs. 5 lakh from Rs. 1 lakh earlier. While making the announcement, RBI Governor Shaktikanta Das said that it will allow consumers to make higher UPI payments for education as well as medical purposes.
The announcement of the increased UPI payment limit is a welcome move, signalling a positive shift in the dynamics of financial transactions. This strategic decision holds the potential to bring about a transformative impact, especially in the context of healthcare.

Dec 08, 2023

Wipro Consumer Acquires 3 Brands from VVF to Expand Personal Care Segment

Wipro Consumer Care and Lighting, part of Wipro Enterprises, announced the acquisition of three soap brands, Jo, Doy, and Bacter Shield, from Mumbai-based VVF India, to expand its personal care segment. This was the company's 15th acquisition so far and the third in the last 12 months.
The acquisition is a strategic expansion for Wipro in the personal wash segment. Jo toilet soap is a key brand with a significant play in the North, East, and West markets. Doy operates in the premium segment with differentiated positioning, and Bacter Shield has an antibacterial range of soap and hand wash. These brands together recorded a revenue of over Rs. 210 crore during FY23.

The New Nifty 50 Total Return Index

NSE Indices, a subsidiary of the National Stock Exchange's index services, launched a new variant of the Nifty 50 index. The Nifty 50 Net Total Return measures the performance of the Nifty 50 index, considering that the cash dividends and the gains from bonus issues are reinvested in the Nifty 50 index.
The new index aims to provide a more comprehensive view of the total returns of the Nifty 50 index, considering both the price appreciation of stocks and income from dividends.
The Nifty 50 Net Total Return index will be calculated in two currencies: the Indian Rupee (INR) and the US Dollar (USD).

ACKO and PhonePe Collaborate to Make Insurance Accessible to Millions

ACKO General Insurance and PhonePe joined forces to revolutionise the landscape of insurance accessibility in India. This strategic collaboration aims to provide users with a comprehensive range of car and bike insurance products directly through the PhonePe platform. Beyond just convenience, the partnership reflects the shared commitment of both companies to democratise insurance, making it a readily available financial option for millions of PhonePe users.
The collaboration between ACKO and PhonePe is a strategic alliance that leverages the strengths of both entities. ACKO, known for its customer-centric approach, combined forces with PhonePe's extensive distribution network.

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