Call Support +91-85588-96644
TCYonline

Login

Sign Up

Please enter a Username or Email ID
Please enter a password
Keep me logged in
Please enter your name
Please enter your mobile number
You can't leave Captcha Code empty
By submitting this form, you agree to the Terms & Privacy Policy.
OR

Sign Up via Facebook

Sign Up via Google

Sign Up via Twitter

Download Software
Tests given

Download TCY App

App Image
 
loading

BUSINESS AND ECONOMY - September 2017

Sep 2017

Aug 28, 2022

Godrej Agrovet Signed Agreements with Assam, Manipur, and Tripura for Palm Oil

  • Godrej Agrovet, a diversified agribusiness conglomerate, announced that it has signed an MoU with the governments of Assam, Manipur, and Tripura to advance and promote oil palm growth in the area under the National Mission on Edible Oils-Oil Palm initiative.
  • The partnership between Godrej Agrovet and the state governments will create new chances for expansion of oil palm plants in these states as well as support for farmers.

RBI Report: Bank Credit Rise Expedites 14.2% in the June 2022 Quarter

  • The Bank credit growth increased from 6% in the quarter that ended in June 2021 to 14.2% in the quarter that concluded in June 2022 as per the data released by the Reserve Bank of India.
  • The Bank credit has increased by 10.8% in the three months that ended in March 2022.
  • The last five quarters have seen a consistent 9.5 to 10.2% annual growth in aggregate deposits.

Adidas CEO Kasper Rorsted to Step Down Next Year

  • Adidas CEO, Kasper Rorsted will step down next year, the sports apparel maker. Rorsted, who has been CEO since 2016, and its supervisory board mutually agreed that he will hand over during the course of 2023.
  • Rorsted's departure was a mutual decision of the supervisory board and the CEO following confidential discussions. Besides the pandemic slump, Rorsted had to contend with criticism that the company had done too little to promote diversity.

Sivakumar Gopalan, Gopal Jain Appointed as Non-Executive Directors of RBL Bank

  • The private sector lender RBL Bank has appointed Gopal Jain and Dr. Sivakumar Gopalan as the non-executive directors.
  • RBL Bank has been working on adding a diverse set of leaders with relevant experience to accelerate its 2.0 strategy.
  • With the new additions, the bank's board will have 14 members. The board of RBL Bank approved raising up to Rs. 3,000 crores through the issue of debt securities on a private placement basis, on a "time-to-time basis".

Aug 27, 2022

RBI Report: Bank Credit Rise Expedites 14.2% in the June 2022 Quarter

  • The Bank credit growth increased from 6% in the quarter that ended in June 2021 to 14.2% in the quarter that concluded in June 2022 as per the data released by the Reserve Bank of India.
  • The Bank credit has increased by 10.8% in the three months that ended in March 2022.
  • The last five quarters have seen a consistent 9.5 to 10.2% annual growth in aggregate deposits.

Aug 24, 2022

"All things EV": HDFC Launches India's First EV Ecosystem

  • HDFC has launched India's first one-stop solution portal for Electric Vehicles Ecosystem, "All things EV". HDFC EGRO, General Insurance Company, which is a leading private sector general insurance company has claimed that the "All things EV", fulfills the needs of the existing and potential Electric Vehicles or EV users. The company has also launched a dedicated platform for existing and prospective EV ecosystem users as a part of the initiative which also hosts end-to-end information related to the EV sector. This platform welcomes all Indians who have purchased EVs or are planning to buy EVs in the future or are making an earning out of the growing EV sectors.

Aug 22, 2022

RBI Cancels Licence of Deccan Urban Co-operative Bank

  • The RBI said the licence of Deccan Urban Co-operative Bank, Karnataka, was cancelled as the lender did not have adequate capital and earning prospects. As per the data submitted by the bank, more than 99 per cent of the depositors are entitled to receive the full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC).

Central Bank Inks Pacts with Protium Finance, lncred Fin to Offer Loans

  • State-owned Central Bank of India forged co-lending partnerships with Protium Finance and lncred Financial Services to offer loans to MSME borrowers.
  • The partnerships will provide greater expansion of portfolio by the bank and to these players.
  • The state-owned lender said that Protium Finance would originate and process MSME proposals under the priority sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India would take into its books 80 per cent of the MSME priority sector loans under mutually agreed terms.

Vistara Emerges Second Largest Domestic Airline by Market Share

  •  Full-service Vistara emerged as the second biggest airline by domestic market share last month (July) with a 10.4% pie of the sky, distantly second to the market leader IndiGo at 58.8%. The airline is Tata Sons' joint venture with Singapore Airlines. The number three, four and five positions saw airlines separated by just decimal points — Air India (8.4%), GoFirst (8.2%) and SpiceJet (8%).
  • India's airlines carried 9.7 million passengers on domestic routes in July, almost double from a year earlier but lower than the 10.5 million passengers ferried in June 2022.
  • The combined market share for the three Tata Group airlines: Air India, Vistara and AirAsia India for July was 23.4%. IndiGo's share was 2.5 times higher at 58.8%.

Bill Gates Foundation named Ashish Dhawan to its board of trustees

  • Indian philanthropist Ashish Dhawan has been named to the board of trustees of the Bill & Melinda Gates Foundation. The foundation announced the appointment of two new members to its board of trustees. Ashish Dhawan is the founder and CEO of Convergence Foundation, and along with him, Dr Helene D Gayle, President of Spelman College, US, has also been appointed.

Edelweiss MF to Introduces India's First Gold and Silver Fund

  • The asset management firm (AMC) Edelweiss Mutual Fund (Edelweiss MF) is slated to introduce India's first programme that provides exposure to gold and silver through a single fund. The Edelweiss Gold and Silver ETF Fund of Fund (FoF) by Edelweiss MF new fund offer will expire on September 7. Bhavesh Jain and Bharat Lahoti are the fund managers for the scheme of Edelweiss MF. Silver-based mutual funds were initially introduced in January of this year, while India's first gold fund, Nippon India ETF Gold BeES, was released in March 2007.
  • The new strategy from Edelweiss MF aims for equal exposure to the two metals and will periodically adjust.
  • The scheme by Edelweiss MF would invest in shares of gold and silver ETFs managed by other fund houses or Edelweiss MF since the AMC lacks a single gold or silver fund.

Aug 21, 2022

Wipro Bags Deal from UK Government Treasury, to Deliver Service Integration

  • IT company Wipro Limited bagged a multi-year contract to deliver service integration and management services to the UK government treasury.
  • The service will enable seamless integration of IT services across multi-functional suppliers and partners, enhancing the user experience across HMT and its arm's length bodies.
  • Wipro and Her Majesty's Treasury (HMT) will collaborate to enable end-to-end SIAM (Service Integration and Management) services, from strategy, design, and implementation to running business-as-usual services such as day-to-day coordination of service integration across HMT's vendors.

NHPC Ltd Inks Pact to Develop Nepal Hydropower Plant Left by China

  • Nepal signed a pact with an Indian company NHPC to develop a hydroelectric plant in the west of the nation years after a Chinese firm backed out.
  • Nepal opened its rivers, which it sees as having a combined potential to generate more than 42,000 megawatts of hydroelectric power, to foreign players to develop its economy and export electricity to narrow the trade deficit of more than $13 billion.
  • NHPC Ltd signed a memorandum of understanding allowing it to study details like feasibility, environmental impact, inundation of land and construction costs for two projects - West Seti (750 megawatts) and SR 6 (450 megwatts).
  • Both plants are to be located on the West Seti River in Nepal's least developed far western region.
  • China's biggest hydropower developer, Three Gorges International Corp, was previously lined up to develop the West Seti plant, but Nepal scrapped the deal in 2017 amid haggling over the terms.

RBI Cancels Licence of Deccan Urban Co-operative Bank

  • The RBI cancelled the licence of Deccan Urban Co-operative Bank, Karnataka, as the lender did not have adequate capital and earning prospects.
  • As per the data submitted by the bank, more than 99 per cent of the depositors are entitled to receive the full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC).
  • The RBI has requested the Commissioner for Cooperation and Registrar of Cooperative Societies, Karnataka, to issue an order for winding up the bank and appoint a liquidator for the bank.
Share on
Keep Yourself updated on Latest PTE Exam Pattern

Avail Free Topic-wise Tests and various other offers.