General Awareness

BUSINESS AND ECONOMY - December 2017

Dec 2017

Aug 28, 2023

Akola Merchant Co-operative Bank and Jalgaon Peoples Co-Operative Bank Get Approval for Voluntary...

The Reserve Bank of India (RBI) sanctioned the amalgamation of Akola Merchant Co-operative Bank with Jalgaon Peoples Co-operative Bank.
The branches of Akola Merchant Co-operative Bank will function as branches of The Jalgaon Peoples Co-operative Bank.

Airtel Payments Bank, Mastercard and Frontier Markets partner to Support 1 lakh Women-owned Small...

Airtel Payments Bank, Frontier Markets and the Mastercard Center for Inclusive Growth announced the launch of 'She Leads Bharat: Udyam', an initiative to elevate 1,00,000 women-owned small businesses with resources, tools and opportunities to grow and diversify their incomes.
'She Leads Bharat: Udyam' is a first-of-its-kind initiative that brings together the private sector, social enterprise, and philanthropy in the banking, financial services, and insurance sector to demonstrate a digital-first model designed to unlock ways for women-owned small businesses to increase their incomes.
This initiative will be funded by the Mastercard Impact Fund, while Mastercard will bring the catalytic capital and global expertise of its Center for Inclusive Growth to unlock tools, resources, and networks for the women-owned small businesses.

Aug 27, 2023

FSS Announces Launch of its New Payments Technology Platform 'Blaze'

Financial Software & Systems (FSS), a provider of payments solutions, announced the launch of its new payments technology platform, 'Blaze'. This platform is specially designed to cater to the needs of banks and financial institutions.
FSS has revealed that its payments gateway, powered by Blaze, can process over 5,000 transactions per second (TPS). Additionally, the payments technology platform allows banks to achieve higher TPS, aligning with the increased adoption of digital commerce within the country.
FSS has made the Blaze platform accessible to customers in India, the Middle East, and Africa, and has plans to introduce it in additional markets in the coming months.

Aug 25, 2023

Shemaroo Entertainment Appoints Manisha Dey as Head of Devotional and Music Division

Shemaroo Entertainment announces the appointment of Manisha Dey as the head of the devotional and music category. The strategic decision underlines Shemaroo's commitment to elevating its content repertoire and delivering experiences to its audience within the dynamic entertainment landscape.
Manisha's remarkable professional journey and achievements underscores her visionary acumen. She has extensive experience and has a well-established track record across diverse facets of the music and entertainment industry, particularly in the devotional genre.

HDFC Bank Launches India's First Co-Branded Hotel Credit Card with Marriott

HDFC Bank, India's leading private sector bank, partnered with Marriott Bonvoy, the acclaimed travel program by Marriott International, and unveiled the 'Marriott Bonvoy HDFC Bank Credit Card'.
This pioneering co-branded hotel credit card, the first of its kind in India, operates on the esteemed Diners Club platform, a part of the Discover Global Network, and aspires to set new standards for rewarding travel cards in the country.
The Marriott Bonvoy HDFC Bank Credit Card brings together the strengths of these two prominent brands, presenting consumers with an unparalleled selection of travel benefits. One of the prime offerings is the Silver Elite Status within the Marriott Bonvoy program, which offers a host of advantages such as priority late checkout, exclusive member rates, bonus Marriott Bonvoy points, and more.

Uber Appoints Arnab Kumar as Director of Business Development for India, SA

Ride-hailing company Uber appointed Arnab Kumar as the director of business development for India and South Asia. Kumar, who brings over 17 years of experience across the technology and financial services sectors, has been instrumental in building the India operations for Coinbase and leading fintech investments and strategic initiatives for Prosus (formerly known as Naspers). He has previously served as a program director at the government think tank NITI Aayog, where he played a vital role in developing emerging technology initiatives, including Aarogya Setu, India's Covid contact tracing app.
In addition to his previous roles, Kumar has worked as an investment banker for Deutsche Bank in Singapore and New York. He is an alumnus of Birla Institute of Technology Mesra and the Indian School of Business Hyderabad, and holds the CFA charter.

Aug 24, 2023

LIC Acquires Stake in Jio Financial Services

The Life Insurance Corporation of India acquired 6.660 per cent stake in Jio Financial Services owing to the de-merger action by Reliance Industries.
Jio Financial de-merged from Reliance Industries in July, as a part of which shareholders of RIL were allotted one share of Jio Financial for every share held.
LIC said that the cost of acquisition is equivalent to 4.68 per cent of the pre de-merged cost of Reliance Industries.

Snap Inc Appointsd Pulkit Trivedi as India's Managing Director

Snap Inc, the parent company of instant messaging platform Snapchat, appointed Pulkit Trivedi as India's Managing Director, while revamping the organisational structure with a focus on growing the user community in the country.
Under a new operational structure, the growth, market development, partnerships, content and creator ecosystem teams of Snap in India will now report directly to Trivedi. This new, highly localised structure will further help in building unique experiences for the company's growing user community.
Trivedi was working at Google for the past five years as the director of Google Pay- India business team.

Honeywell Launches New AGL Manufacturing Facility in Gurugram

US conglomerate Honeywell, launched a new Airfield Ground Lighting (AGL) manufacturing facility in Gurugram, India, in line with its 'Make in India' programme and commitment to domestic manufacturing and technological advancement.
AGL, a product engineered and manufactured completely in India, plays a crucial role in airport operations and is subject to comprehensive safety and compliance regulations by global aviation standards and regulatory bodies.
The complete engineering and technology that caters to the needs of airports was incubated and developed by the Honeywell Technology Solutions team in India.

Aug 23, 2023

Canara Bank Introduces UPI Interoperable Digital Rupee Mobile App

Canara Bank launched the UPI Interoperable Digital Rupee mobile application as a part of the Reserve Bank of India's Central Bank Digital Currency (CBDC) pilot project.
It is the first bank in both the public and commercial sectors to offer this feature via its CBDC mobile app called the Canara Digital Rupee app.
With the introduction of this feature, customers can scan merchant UPI QR codes using the Canara Digital Rupee app and pay through digital currency.
Moreover, the feature is aimed at empowering merchants to accept digital currency payments using their existing UPI QR codes in addition to UPI-based payments without the requirement of a separate onboarding process for CBDC.

Viacom18 Appoints Google's Kiran Mani as CEO of Digital Business

In a strategic move to bolster its digital business operations, Viacom18 welcomed Kiran Mani, a seasoned executive from Google, as the new CEO. Mani's impressive track record and extensive experience positions him well to lead Viacom18's digital endeavours.
Kiran Mani's longstanding association with Google speaks volumes about his ability to navigate the dynamic landscape of digital platforms. His role as the head of Android and Google Play in the Asia Pacific region has equipped him with valuable insights into user behaviors, content consumption patterns, and market trends.
Viacom18's recruitment of Kiran Mani follows a trend of industry experts joining the company's ranks. Previously, Viacom18 welcomed Kevin Vaz, an accomplished professional from Disney Star, as CEO of TV and digital (regional entertainment). Alok Jain, another former Disney Star executive, has also become a part of Viacom18 as President and Head of Colors Hindi and Regional. These strategic hires underline Viacom18's commitment to assembling a leadership team that brings diverse expertise and a deep understanding of the media and entertainment landscape.

Oriana Power Bags Contract for 20-MW Solar Project

Oriana Power Ltd won a contract worth Rs. 138 crore from Bharat Coking Coal Limited (BCCL) to set up a 20MW AC ground-mounted solar photovoltaic power plant at Dugdha washery area, Dhanbad, Jharkhand.
The EPC (engineering, procurement, and construction) phase of this project is slated for completion within 12 months.
The project will produce clean energy capable of powering over 10,000 homes. It is also estimated to mitigate an impressive 26,000 tonne of CO₂ emissions annually, contributing substantially to the fight against climate change.

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