General Awareness

BUSINESS AND ECONOMY - August 2017

Aug 2017

Feb 03, 2026

Sarvesh Ranjan named Chief General Manager at Union Bank of India

Union Bank of India announced the promotion of Sarvesh Ranjan to Chief General Manager, following the retirement of Bhaskara Rao Kare on January 31, 2026. The leadership transition reflects ongoing efforts to ensure continuity in operations and governance. Ranjan’s appointment comes amid a broader push to strengthen the bank’s strategic capabilities, including digitalization, risk management, and customer service improvements. The bank highlighted his track record in steering major projects and his experience across retail and corporate banking. The move is part of a wider pattern of leadership changes in Indian public sector banks.

Sarvesh Ranjan appointed CGM on January 31, 2026.
Predecessor Bhaskara Rao Kare retired Jan 31, 2026.
Emphasis on digitalization and risk management.
Leadership continuity at Union Bank of India.

Feb 02, 2026

39th India International Leather Fair Begins in Chennai

The 39th India International Leather Fair opened in Chennai for a three-day run, featuring leather products, machinery, and innovations. The event showcased digital technologies, including AI, AR and data analytics, and highlighted the sector’s export potential amid a broader Free Trade Agreement context. Industry leaders, policymakers and foreign buyers attend, reflecting cooperation between Europe and India and the aim to boost growth under Vikshit Bharat 2047. The fair also emphasises sustainability, efficiency, and the adoption of modern production methods in the leather value chain.

Event: 39th India International Leather Fair, Chennai.
Duration: three days; focus on leather products and machinery.
Technology: AI, AR, data analytics and digital design.
Context: aligns with Free Trade Agreement and Vikshit Bharat 2047 goals.

Feb 01, 2026

IndoPacific Aviation wins Best NSOP - Fixed Wings at Wings India 2026

IndoPacific Aviation, a JetSetGo subsidiary, won the 'Best NSOP - Fixed Wings' award at Wings India 2026, acknowledging excellence in non-scheduled operations. The ceremony was part of the Wings India event, recognizing companies for achievements in niche aviation segments. Industry observers noted that such wins reflect the growing private sector role in India’s regional air network and encourage further investment in non-scheduled services. The award aligns with broader industry objectives to expand connectivity, improve efficiency and boost regional aviation capacity.

Award: Best NSOP - Fixed Wings.
Company: IndoPacific Aviation (JetSetGo group).
Event: Wings India 2026.
Impact: signals private sector growth in NSOP operations.
Industry context: emphasis on regional connectivity.

Jan 31, 2026

Jharkhand hosts 2nd Jharkhand Mining & Construction Show-2026 in Ranchi

Jharkhand Governor Santosh Kumar Gangwar inaugurated the second Jharkhand Mining and Construction Show-2026 at Dhurwa, Ranchi on Thursday. He noted that nearly 40 percent of India's mineral resources lie in Jharkhand, giving the state a pivotal position in the mining sector. The Governor said the event underscores the state’s role in achieving a self-reliant and developed India by 2047, stressing that development should reach the last person. Industry leaders showcased new technologies, while policymakers discussed boosting jobs, safety, and sustainable extraction. The show aims to attract investment and enhance regional growth across the state.

Event: 2nd Jharkhand Mining and Construction Show-2026
Inaugurated by Governor Santosh Kumar Gangwar in Ranchi
Jharkhand accounts for a large share of India's mineral resources
Focus on self-reliant India by 2047 and inclusive development
Platforms for technology showcase and policy discussion

Jan 30, 2026

USDU becomes UAE's first approved USD-backed stablecoin

The UAE has approved its first USD-backed stablecoin, USDU, under the Central Bank's Payment Token Services Regulation. The stablecoin is issued and managed by Universal Digital, a crypto firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market. Universal Digital said it is the first foreign payment token issuer registered with the UAE central bank. The approval places the UAE among the first major financial jurisdictions with a fully regulated framework for USD-denominated settlement using digital assets, marking a milestone in building regulated digital asset infrastructure for payments and cross-border transfers.

USDU approved under the UAE central bank's Payment Token Services Regulation.
Issued and managed by Universal Digital; regulated by FSRA at Abu Dhabi Global Market.
Universal Digital becomes the first foreign payment token issuer registered with the UAE central bank.
Positions the UAE among early major jurisdictions enabling regulated USD-denominated digital-asset settlement.
Stablecoins are pegged to reserve assets (often USD) to reduce volatility for payments, settlements, and cross-border transfers.

Edrington appoints Paul Ross as COO for India operations

Edrington has appointed Paul Ross as Chief Operating Officer for its India operations. Based in Gurgaon, Ross will oversee growth of flagship brands such as The Macallan and Highland Park and coordinate with partners to strengthen the company’s locally anchored business as demand for premium spirits rises in India. The appointment follows a UK–India trade agreement that is expected to reduce tariffs on Scotch whisky imports, supporting Edrington’s confidence in India’s evolving consumer market. The move signals continued investment in India as a strategic growth market for premium and ultra‑premium beverages.

Paul Ross appointed COO for Edrington India.
Based in Gurgaon; oversees Macallan and Highland Park growth.
UK–India trade deal could reduce whisky tariffs.
Strengthens Edrington’s local, premium brand strategy.
Signals India as a key growth market for premium spirits.

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