General Awareness

BUSINESS AND ECONOMY - December 2017

Dec 2017

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.

Aug 22, 2023

India Jumps to 11th Position in Global Direct Selling Ranking

India moved up to 11th position in the ranking of top markets of direct sellers, with retail sales of USD 3.23 billion (around Rs. 26,852 crore) in 2022, according to a report by global industry body WFDSA. Indian direct selling registered a growth of 5.4 per cent over 2021 retail sales.
On a constant dollar basis, the Indian market attained the highest Compounded Annual Growth Rate (CAGR) of over 13.3 per cent during the last three years.
The global direct selling industry reported a decline of 1.5 per cent in 2022 to USD 172.89 billion.
The top market in the list was the US with USD 40.52, with a decline of 5 per cent over 2021, it said. It was followed by Korea, Germany, China, Japan and Malaysia.

Wipro Appoints Brijesh Singh as Global AI Head

Wipro appointed former Deloitte partner Brijesh Singh as senior vice president and global artificial intelligence (AI) head for Wipro Enterprise Futuring.
Singh has over 30 years of experience in the technology consulting space and was responsible for driving AI and data-led transformation at Deloitte. He has over seven years experience at the big four accounting firm.
He will be part of Enterprise Futuring--one of the four global business lines announced by the firm as a part of the restructuring done by the company in February. This business line comprises intelligent insights and data, application platforms, digital operations and cyber security.

Gujarat, UP Rank among Top 5 States in New Investments

Uttar Pradesh (UP) and Gujarat are among the top 5 states in India in terms of new investments in 2022-23. According to a study by the Reserve Bank of India (RBI), these two states together accounted for 57.2% of the total investment proposals made during the year. In 2022-23, UP attracted the highest share of new investments, with a total project cost of Rs. 43,180 crore. This was followed by Gujarat (Rs. 37,317 crore), Odisha (Rs. 11,810 crore), Maharashtra (Rs. 7,900 crore) and Karnataka (Rs. 7,300 crore).
The other states in the top 10 were Tamil Nadu (Rs. 6,100 crore), Telangana (Rs. 5,300 crore), Andhra Pradesh (Rs. 4,900 crore) and Madhya Pradesh (Rs. 4,500 crore).
The RBI study attributed the surge in new investments in these states to a number of factors, including their focus on improving the ease of doing business, their large and growing markets, and their strategic location.

Aug 21, 2023

YES Bank Launches New Mobile Banking App 'iris'

Private lender YES Bank introduced its state-of-the-art mobile banking app 'iris'.
Designed to cater to both existing and new customers, the app offers access over 100 features and services in just a few clicks on a single platform.
The iris app has a sleek and intuitive user interface that aims to offer a simplified banking experience for users of all age groups, and backgrounds.
It also ensures the safety of the customers' financial data by incorporating best-in-class safety features like biometric authentication, SIM binding as well as a two-factor verification.

Godrej Security Gets Central Vista Project

Whether it's scanners, vehicle access control, people access control, or barriers, India's upcoming Central Vista Avenue is set to have the influence of Godrej Security Solutions in ensuring safety and security. The company secured a significant deal to oversee the premises security of this iconic project.
This mega project is anticipated to be a catalyst, boosting the company's revenue by 18 per cent this financial year to Rs. 1,000 crore, up from Rs. 850 crore in the previous financial year. Godrej Security Solutions, one of the largest players in the transition from mechanical locks to technology-led integrated digital security systems, is part of the Rs. 12,000-crore Godrej and Boyce conglomerate.

Aug 20, 2023

RBI Appoints P. R. Seshadri as MD and CEO of South Indian Bank

The Reserve Bank of India approved the appointment of P. R. Seshadri as the Managing Director and CEO of the Thrissur based South Indian Bank.
The appointment will be for a period of three years with effect from October 1.
Seshadri is an accomplished banker with experiences spanning multiple businesses, functional lines and geographies. He has significant experiences in enterprise level management and in the management of all key commercial banking business lines.
He has served as, amongst other positions, MD & CEO of The Karur Vysya Bank Limited (KVB), MD & Regional Sales and Distribution Head, Citibank N.A., Asia Pacific, Singapore and so on.

Aug 19, 2023

Axis Bank Launches Two Products with RBI Innovation Hub to Extend Lending

Private lender Axis Bank launched two lending products powered by the Public Tech Platform for Frictionless Credit (PTPFC), introduced by the Reserve Bank Innovation Hub (RBIH). RBIH is a wholly-owned subsidiary of the Reserve Bank of India (RBI).
Axis Bank will offer Kisan Credit Card (KCC) and unsecured micro, small and medium enterprises (MSME) loans to customers powered by the platform.
Both products will be offered in a completely digital manner and require no submission of documents by customers.

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