General Awareness

BUSINESS AND ECONOMY - December 2017

Dec 2017

Oct 01, 2023

Tamilnad Mercantile Bank MD & CEO Krishnan Resigns

The Tuticorin-based Tamilnad Mercantile Bank (TMB)'s Managing Director and Chief Executive Officer, Krishnan Sankarasubramaniam, resigned from the post, citing personal reasons.
This came within thirteen months since he was appointed on September 4, 2022.
Krishnan also served as the MD and CEO of Punjab and Sind Bank from September 4, 2020, to May 31, 2022. Krishnan was also the executive director of Canara Bank from April 1, 2020, to September 3, 2020, before joining Punjab and Sind Bank. Before Canara Bank, he served as the executive director of Syndicate Bank between November 1, 2017, and March 31, 2020.
The board of directors accepted the resignation of Krishnan. However, he shall continue to be the managing director and CEO, until guidance is received from RBI.

CDIL 1st Indian Firm to Make Silicon Carbide Chips, Starts Unit in Mohali

Continental Device India Pvt Ltd (CDIL) become the first company to start producing Silicon Carbide devices, used in electric vehicles (EV) and power electronics, in India. It opened a new semiconductor packaging line at its Mohali plant, taking its annual manufacturing capacity to 600 million units.
CDIL Semiconductors, which claims to be the first company to introduce silicon semiconductor technology in India in 1964, also partnered with the government's Semi-Conductor Laboratory (SCL) in Mohali. As per the Memorandum of Understanding (MoU) between the Ministry of Electronics and Information Technology (MeitY) and CDIL, the latter will utilise the semiconductor wafer fabrication facility for its new packaging unit.
The development came a week after MeitY invited commercial and technology players with the necessary technological and operational expertise to modernise the SCL facility that serves as the only semiconductor fabrication unit in the country.

Adman Piyush Pandey to Step Down, Transition into Advisory Role at Ogilvy

Piyush Pandey, Ogilvy's chief creative officer worldwide and the executive chairman of its India office, will step down after a 41-year-long association with the agency. Devika Bulchandani, Global Chief Executive Officer of Ogilvy, announced Pandey's departure from the company, adding that he would continue in an advisory role.
Hephzibah Pathak will take on the role of executive chairperson of Ogilvy India. Group President V. R. Rajesh will take charge as CEO. The new change will come into effect from 1 January 2024.
The 41-year-long association between Pandey and Ogilvy began in 1982 when he commenced his career as a client-servicing executive.

Sep 30, 2023

Amara Raja Batteries Rebrands as Amara Raja Energy & Mobility Ltd

Amara Batteries Ltd, an industrial and automotive battery manufacturer, officially changed its name to Amara Raja Energy & Mobility Ltd (ARE&M). The new name aims to reflect more accurately the company's expansion from batteries to the broader energy and mobility sectors.
Over the past two years, ARE&M has strategically expanded its portfolio to offer a range of solutions and products. These include automotive batteries, industrial batteries, battery energy storage solutions, lithium-ion cell manufacturing, a wide range of electric vehicle chargers, lithium-ion battery pack assembly, renewable energy storage solutions, battery management systems and lubricants.

Cognizant Appoints Wipro's Jatin Dalal as its Chief Financial Officer

Nasdaq-listed IT major Cognizant announced the appointment of Wipro veteran Jatin Dalal as Chief Financial Officer (CFO), with the appointment anticipated to be effective December 2023. Wipro announced Dalal's resignation on September 21.
Dalal will report to Ravi Kumar S, Cognizant's Chief Executive Officer (CEO), who joined the company in October 2022 after spending 20 years at Infosys. Dalal will oversee Cognizant's global financial planning and analysis, accounting and controllership, tax, treasury and internal audit, corporate development, investor relations and enterprise risk management functions.
Dalal will succeed Jan Siegmund who intends to retire in early 2024. Upon Dalal's assumption of the role of CFO, Siegmund will remain with the company as a non-executive officer and special advisor to support an orderly transition.

Sep 29, 2023

Flipkart Appoints Microsoft's Keshav Dhakad as Senior V-P, General Counsel

Keshav S. Dhakad was appointed senior vice president and general counsel for the Flipkart Group. Dhakad will be responsible for all legal-related matters for the Flipkart Group. Dhakad joined Flipkart from Microsoft Corporation, where he spent over a decade and a half.
As the general counsel of Microsoft India, which comprised six business units, Dhakad was the group head of Corporate, External and Legal Affairs (CELA). He has over 23 years of law firm and in-house legal experience, having begun his professional journey with a leading boutique intellectual property law firm, M/s Anand & Anand Advocates, New Delhi, in 1999.
He is a law graduate (LLB) from Campus Law Centre, Faculty of Law at the University of Delhi, and obtained his masters (LLM) from Franklin Pierce Law Centre, New Hampshire, USA. Besides the Bar Council of Delhi, Dhakad is also admitted to practise law in New York State since 2003.

RBI Clears K. N. Madhusoodanan as Part-time Chairman of Dhanlaxmi Bank

The Reserve Bank of India (RBI) cleared the appointment of K. N. Madhusoodanan as a part-time chairman of Kerala-based Dhanlaxmi Bank. This came after a period of 21 months during which the company was without a chairman, following the resignation of G. Subramonia Iyer in December 2021 for personal reasons.
Madhusoodanan has been an independent director with the bank since 2022. This appointment also follows the RBI's rejection of a proposal to appoint G. Rajagopalan Nair as its part-time chairman. Nair was also an independent director with the bank since August 2020.

Sep 28, 2023

Yes Bank Appoints Manish Jain as Country Head of Wholesale Banking

Yes Bank announced the appointment of Manish Jain as the new country head of Wholesale Banking, effective September 27. He succeeded Ravi Thota, who resigned in August 2023, citing personal and professional reasons.
Jain holds a master of business administration from the Indian Institute of Management Bangalore and a BTech degree in mechanical engineering from the Indian Institute of Technology Delhi, and has nearly three decades of professional experience. As country head of Wholesale Banking, he will lead and oversee various segments, including large corporates, emerging local corporates, transaction banking group, institutional and government banking, and business economics banking within YES Bank.

Intel Appoints Gokul Subramaniam as New President of Intel India

Intel Corporation appointed Gokul Subramaniam as the new President of Intel India, responsible for overseeing the company's comprehensive engineering and design operations. This includes innovation, cross-group efficiencies, and execution of Intel's products in India.
The appointment follows the departure of Nivruti Rai, Intel's former country head, who joined Invest India, the government's investment promotion agency, as its Managing Director and Chief Executive Officer.
Santhosh Viswanathan, Vice President and Managing Director of Sales, Marketing and Communications Group (SMG) for Intel India, will continue overseeing Intel's overall business in the country, focusing on new revenue and growth opportunities.

RBI Deputy Governor M. Rajeshwar Rao Gets Term Extension

The Central government granted a one-year extension to M. Rajeshwar Rao's term as Deputy Governor of the Reserve Bank of India (RBI).
M. Rajeshwar Rao was originally appointed as Deputy Governor of the Reserve Bank in October 2020, with a term of three years. His initial assignment was to oversee financial regulation within the central bank. However, this new extension will allow him to continue his vital role for an additional year, starting from October 9, 2023, or until further orders are issued, whichever comes first.

RBI Approves Poonawalla Fincorp to Issue Credit Cards with IndusInd Bank

Cyrus Poonawalla-owned Poonawalla Fincorp received Reserve Bank of India's (RBI) permission to issue co-branded credit cards with IndusInd Bank.
The company envisages to launch this credit card within three months. According to the company, this partnership will enable Poonawalla Fincorp to usher in a new age of flexible and versatile retail credit.

Sep 27, 2023

Global Investment in Indian Banks to Continue on Robust Finances

Indian banks will continue attracting global investment from investors looking for better returns as credit growth, improved margins, and stable asset quality boost the country's lenders
The total market value of foreign institutional investors' holdings in Indian banks has increased to Rs. 8.36 trillion as of June 30, 2023 from Rs. 7.71 trillion 2022
Top lenders that attracted foreign institutional investors include ICICI Bank, HDFC Bank, and Kotak Mahindra Bank.

SIDBI Signs Pact with DLAI to Boost Fintech Sector

The Small Industries Development Bank of India has inked an agreement with the Digital Lenders Association of India (DLAI) to boost the country's fintech sector.
Aim: To collaborate with SIDBI to develop standard protocols to expedite the adoption of digital lending partnerships including alliances between banks and Lending Service Providers.
It also provides resource support to eligible DLAI member NBFCs and also explores Assignment and Securitisation transactions.

Khamree Mo Sikkim!

Maruti Suzuki India Limited (MSIL) has embarked on a mission to raise awareness about career opportunities among the youth in Northeastern India.
To achieve this goal, MSIL has joined hands with the Indian Navy for the 'Khamree Mo Sikkim' outreach program, a collaborative effort dedicated to the progress and well-being of the region.

PhonePe Launches its Own App Store to End Google's Monopoly

PhonePe announced the launch of the Indus Appstore Developer Platform.
PhonePe wants all Android developers to register and upload their apps using the Indus Appstore.
According to PhonePe, these apps will be listed on the soon-to-be-launched.
Indus Appstore, offering a localised experience in 12 languages.

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