General Awareness

BUSINESS AND ECONOMY - December 2017

Dec 2017

Apr 20, 2025

SBI Reviving the 'Amrit Vrishti' FD Scheme with New Rates

The State Bank of India (SBI) reintroduced its special Fixed Deposit (FD) scheme called 'Amrit Vrishti' from April 15, 2025, with revised interest rates. Initially launched in July 2024, the scheme concluded on March 31, 2025, after multiple extensions. Now, SBI has brought back this scheme with a modified structure to cater specifically to senior and super-senior citizens, offering them competitive interest rates on their fixed deposits. The scheme aims to mobilise deposits by attracting elderly investors with favourable returns, promoting their long-term financial security.

Apr 19, 2025

SBI Card and Tata Digital Launch Co-branded Tata Neu SBI Card

SBI Card, the largest pure-play credit card issuer in India, partnered with Tata Digital and launched a co-branded credit card aimed at enhancing customer experiences through rewards and exclusive benefits. The Tata Neu SBI Card is available in two variants – the Tata Neu Infinity SBI Card and the Tata Neu Plus SBI Card. Both cards offer a premium shopping experience with significant rewards, lounge access, and various other lifestyle benefits, making it a convenient and rewarding option for consumers.

Former Navy Captain Jagmohan News CMD of Mazagon Dock Shipbuilders Limited

Former Navy captain Jagmohan was appointed as Chairman and Managing Director of Mazagon Dock Shipbuilders Limited, according an order from the ministry of personnel. He is currently the director of corporate planning, projects and business development at Goa Shipyard Limited.
The Appointments Committee of the Cabinet approved Captain Jagmohan's appointment at Mazagon Dock Shipbuilders for a period extending from the date of his assumption of charge till his superannuation in September 30, 2029.
Captain Jagmohan had served for over 25 years in the Indian Navy, during which he held several important assignments in the Directorate of Naval Design and at Naval Dockyard in Mumbai. Prior to joining Goa Shipyard, he worked with Garden Reach Shipbuilders and Engineers Limited (GRSE) in Kolkata as its chief general manager (design).

Apr 18, 2025

Tata Inks $990.79 Million Loan to Fund Britain's Biggest Battery Plant

A unit of Tata Sons signed a £750 million ($990.79 million) loan, to build what could be Britain's largest battery making facility.
About 15 banks have signed the two-year bridge loan deal this month for Agratas Energy Storage Solutions Pvt. The deal is among the three largest foreign currency loans for an Indian company this year (2025).
The two-year loan has been priced at a spread over the Sterling Overnight Index Average, or SONIA, and the deal has been signed.

Santosh Kumar Named Deputy CFO of IndusInd Bank

IndusInd Bank named Santosh Kumar as its Deputy Chief Financial Officer (CFO). This move came following the end of Deputy CEO Arun Khurana's tenure as acting CFO. The bank has been facing mounting challenges due to elevated bad loans in the microfinance sector and accounting discrepancies in its derivative transactions, leading to considerable financial impact and regulatory scrutiny.

Apr 17, 2025

L&T Finance Ltd. Launches a Smarter, Faster, and More Customer-centric Website

L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) in the country, unveiled its newly designed corporate website (www.LTFINANCE.com). It offers a seamless and unified experience on both web and mobile, enabling access 'anytime, anywhere' to users.
Built with a customer-first approach to enhance user experience, the website features an intuitive design and visually engaging layout that showcases all LTF products at a glance, ensuring effortless navigation through the Company's comprehensive portfolio offerings spanning across Urban, Rural, and SME sectors. Besides its aesthetic enhancements, the new website is meticulously crafted to optimise operational efficiency.

Vivek Singh Appointed CEO of Home Credit India

The Board of Home Credit appointed Vivek Singh as the Chief Executive Officer, effective immediately. Singh brings over 20 years of extensive experience in the financial services sector, with a strong focus on building and scaling businesses, driving digital transformation, and managing large-scale operations. He is poised to spearhead Home Credit India into its next phase of growth under the TVS Holdings umbrella.
Home Credit India has played a pivotal role in advancing financial inclusion across the country.

Ananya Birla Launches LOVETC to tap premium cosmetics market in India

The office of Ananya Birla, Aditya Birla Group, launched a premium cosmetic brand, LOVETC, to address the market gap for premium colour cosmetics in India.
"This strategic expansion follows Birla Cosmetics' launch of Contraband earlier this year.
The company's foray into colour cosmetics is part of its long-term vision to build a dynamic beauty portfolio, leveraging deep consumer insights and expertise in delivering product excellence.

Apr 16, 2025

Premji Invest, Pai Family Get CCI Nod to Acquire Stakes in Akasa Air

Fair trade regulator CCI approved proposals of tech tycoon Premji Invest, Manipal Group Chief Ranjan Pai's family office and 360 ONE Asset to acquire stakes in domestic carrier Akasa Air's parent company SNV Aviation.
SNV Aviation Pvt Ltd, which operates Akasa Air, is engaged in air passenger and cargo transport services.

Swiggy Launches AI-powered Pyng App, Enters Professional Services Market

Swiggy, the food and grocery delivery platform, said that it has launched a new consumer app, Pyng—an AI-driven platform designed to simplify access to thousands of verified professionals across over 100 specialisations.
Pyng marks Swiggy's entry into the growing professional services market and competes with different players including home services platform Urban Company. Pyng is an online marketplace designed to address the increasing yet unmet demands of urban consumers who are often overwhelmed by endless online searches for reliable, skilled professionals.

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