General Awareness

BUSINESS AND ECONOMY - November 2017

Nov 2017

Aug 14, 2025

H. E. Zeenat Kureshi, India's First Woman to Hold the Prestigious GCC-India Trade Commissioner Role

H. E. Zeenat Kureshi became India's first woman to be appointed as the GCC-India Trade Commissioner under an international chamber of commerce. This historic appointment placed her at the forefront of strengthening luxury diplomacy and economic cooperation between India and the Gulf Cooperation Council (GCC) nations.
Zeenat Kureshi is pioneering the role of Trade Commissioner in the luxury sector--a domain that blends high-value commerce with cultural exchange. Her work focuses on building strategic alliances between premium Indian industries and the GCC's expanding luxury markets.

Bank of Baroda Introduces Global UPI Services via bob इ Pay App

In a significant move to enhance the scope of digital payments, Bank of Baroda rolled out international UPI features on its official app, bob इ Pay. This update enables cross-border UPI transactions, making it easier for resident Indians and NRIs to engage in secure and real-time global payments. With this, the bank became one of the first public sector banks to align closely with the evolving global UPI ecosystem.
The new features introduced include UPI Global Acceptance, Foreign Inward Remittance, and dedicated UPI access for NRIs. These additions transform bob इ Pay from a domestic payment tool into a global digital transaction platform.

Aug 13, 2025

Cabinet Clears Tato-II Hydro Electric Project in Arunachal Pradesh

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved an investment proposal worth Rs. 8,146.21 crore for the construction of the 700 MW Tato-II Hydro Electric Project (HEP) in Shi Yomi district of Arunachal Pradesh. The project is expected to be completed in 72 months.
The project will be executed through a joint venture between North Eastern Electric Power Corporation Ltd. (NEEPCO) and the Government of Arunachal Pradesh. The Centre will provide Rs. 458.79 crore as budgetary support for roads, bridges, and associated transmission lines, along with Rs. 436.13 crore in Central Financial Assistance for the state's equity share.

VinFast Auto India, HDFC Bank Partner for Auto, Inventory Financing

VinFast Auto India partnered with HDFC Bank to provide auto and inventory financing for its exclusive dealer network.
The partnership, VinFast's first with a banking institution in India, aims to offer a seamless suite of credit solutions ahead of the company's highly anticipated launch.

Aug 12, 2025

DPIIT Signs MoU with Hero MotoCorp to Support and Scale Early-Stage Start-ups

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry signed a Memorandum of Understanding (MoU) with Hero MotoCorp Limited to support and scale early-stage start-ups and entrepreneurs through its innovation accelerator programme 'Hero For Start-ups'.
Under the Start-up India initiative, DPIIT and Hero MotoCorp will jointly support start-ups working in areas related to the future of mobility, clean technology and deep technology. The partnership will provide selected start-ups with exclusive access to Hero MotoCorp's world-class research and development facilities in Germany and India. Shortlisted start-ups will also have the opportunity to work on paid Proofs of Concept (PoCs), enabling successful pilots and unlocking valuable market exposure to accelerate the growth and visibility of their innovations.

Anandamayi Bajaj - 5th Generation of Shri Jamnalal Bajaj, Becomes the First Woman Leader to Join ...

The Bajaj Group proudly announced the joining of Ms. Anandamayi Bajaj, daughter of Chairman Mr. Kushagra Nayan Bajaj, as the/fifth-generation scion of the legendary founder Shri Jamnalal Bajaj, Anandamayi marks a historic moment in the Group's journey as its first woman leader.
Having graduated in Financial Economics and Mathematics from Columbia University, New York, Anandamayi brings with her a sharp intellect, global exposure, and a deep-rooted commitment to the Bajaj legacy.

KSFE Becomes First Miscellaneous NBFC in India to Cross Rs. 1 Lakh Crore Turnover

Kerala State Financial Enterprises (KSFE) achieved a historic milestone, becoming the first miscellaneous non-banking financial company (NBFC) in India to record a business turnover of Rs. 1 lakh crore. The state-owned firm reached this figure in record time, doubling its turnover from Rs. 50,000 crore in just four years.

Aug 11, 2025

GeM Marks 9th Anniversary

Government e Marketplace (GeM) celebrated its 9^th Foundation Day. Launched in 2016 to promote transparent, inclusive and efficient public procurement in line with the Prime Minister's vision of "Minimum Government, Maximum Governance," the platform has grown into a digital procurement system connecting sellers and service providers across the country, including women entrepreneurs, start-ups, micro and small enterprises (MSEs), artisans, self-help groups (SHGs) and Divyangjans. In FY 2024–25, it recorded transactions worth Rs. 5.4 lakh crore in Gross Merchandise Value (GMV).
This year's Foundation Day celebration was held on the theme 'Ease, Access and Inclusion'. Key reforms announced include the elimination of caution money for sellers, rationalisation of vendor assessment fees and a reduction in transaction charges, resulting in exemption for 97 per cent of orders. These measures are aimed at making public procurement more accessible and equitable.

ICICI Bank Records Lowest Attrition Rate among Private Peers for Three Consecutive Years

ICICI Bank reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment.
According to its Business Responsibility and Sustainability Reporting (BRSR) report, the bank's attrition rate fell to 18% in FY25, down from 24.5% in FY24 and 30.9% in FY23.

BEML Bags its First Overseas Rail and Metro Contract, from Malaysia

State-owned firm BEML Limited received its maiden overseas contract in the rail and metro segment from Malaysia valued at USD 1 million.
The work is for the retrofit and reconditioning of the Mass Rapid Transport System.
BEML Limited, a leading multi-technology 'Schedule A' company under the Ministry of Defence, plays a pivotal role in serving India's core sectors, including defence, rail, power, mining, and construction, by offering world-class products.
BEML operates in three verticals: Defence and aerospace, mining and construction, and rail and metro.

Indian Oil's Panipat Refinery Becomes First Sustainable Aviation Fuel Producer in India

Civil Aviation Minister Ram Mohan Naidu Kinjarapu announced that Indian Oil's Panipat Refinery was certified as the country's first Sustainable Aviation Fuel (SAF) producer.
With more such facilities coming up in the country, the country is well on the path to meet the target of 1 per cent SAF blending in all international flights by 2027 and cut our aviation carbon footprint.

Aug 10, 2025

SECI Receives Bid for Supply of Green Ammonia at Rs 55.75/kg

In a boost to India's National Green Hydrogen Mission, the first-ever auction conducted by the Solar Energy Corporation of India (SECI) Ltd for the procurement of green ammonia achieved a record low price discovery of Rs. 55.75 per kg.
This auction covered the supply of 75,000 metric tonnes (MT) per annum of green ammonia to Paradeep Phosphates Limited, Odisha. It is the first in a planned series of 13 auctions over the coming months, under a tender meant for aggregating a cumulative procurement capacity of 7.24 lakh MT per year.
The discovered price Rs. 55.75 per kg translates to approximately $641 per MT, a substantial drop from the previously discovered price of Rs. 100.28 per kg ($1,153 per MT) in the H2Global auction in 2024.

AU Small Finance Bank Becomes First SFB to Get RBI Nod for Universal Bank Status

AU Small Finance Bank (AU) received in-principle approval from the Reserve Bank of India (RBI) to transition into a Universal Bank. This historic development makes AU the first Small Finance Bank (SFB) in the country to receive such a nod, and represents a major milestone in its evolution from a niche financial institution to a full-spectrum banking provider.

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