General Awareness

BUSINESS AND ECONOMY - December 2017

Dec 2017

Mar 03, 2025

RBI Imposes Penalty on Hongkong and Shanghai Banking Corporation

The RBI imposed a penalty of Rs. 66.6 lakh on The Hongkong and Shanghai Banking Corporation Limited for non-compliance with certain directions including those related to 'Know Your Customer' and 'Interest Rates on Deposits'. A penalty of Rs. 33.1 lakh was also imposed on IIFL Samasta Finance Limited for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016' and Know Your Customer (KYC) Directions.

PwC India Launches Programme to Mentor 15 start-ups in Blockchain, AI

PwC India announced the launch of its first-ever start-up accelerator programme 'Emerging Tech Start-up Challenge' geared to empower start-ups in the emerging technology space to refine their solutions and bolster market penetration.
The accelerator programme is aimed at driving innovation and supporting India's vibrant start-up ecosystem by providing mentorship, consulting expertise, and strategic guidance.

Mar 02, 2025

SEBI Launches Bond Central: A Centralised Database for Corporate Bonds

The Securities and Exchange Board of India (SEBI) introduced a centralised database portal named Bond Central to enhance transparency and streamline access to corporate bond-related information. This initiative aims to create a single, authentic source of information on corporate bonds issued in India, benefiting investors and other market participants.
The Bond Central portal has been developed through a collaboration between Online Bond Platform Providers (OBPP) Association and Market Infrastructure Institutions (MIIs), which include stock exchanges and depositories. The portal is intended to serve as an information repository for the public and is accessible free of cost.

Mar 01, 2025

Fashion Business Summit 2025

The Fashion Business Summit 2025, hosted by renowned fashion business coach Harvi Shah, concluded on a high note at Courtyard by Marriott, Mumbai International Airport. This two-day power-packed event brought together some of the most influential minds in fashion, entrepreneurship, and personal development, offering invaluable insights to aspiring and established fashionpreneurs alike.
This summit was designed to bridge the gap between fashion entrepreneurship and business acumen.

Flipkart-Backed super.money Acquires BharatX for Growth

Flipkart-backed UPI platform super.money acquired BharatX, a checkout financing platform, in an all-cash deal. The acquisition will strengthen super.money's position in India's growing digital credit market, particularly in checkout financing. With this acquisition, super.money aims to leverage BharatX's technology stack to enhance credit-on-UPI solutions. The deal also brings BharatX's core team to super.money, with an evaluation planned after six months. The move came as competition in the checkout financing segment has reduced, making it an opportune time for new product development.

Feb 28, 2025

Yes Bank Leads S&P Global Sustainability Rankings 2025

Yes Bank emerged as India's highest-rated bank in sustainability for the third consecutive year, as per the S&P Global Corporate Sustainability Assessment (CSA) 2024 and the Carbon Disclosure Project (CDP).
With a CSA score of 72/100, Yes Bank is the only Indian bank featured in the S&P Global Sustainability Yearbook 2025, which recognises the top 15% of global banking leaders based on ESG performance. The bank also retained its A- (Leadership Band) rating from CDP, highlighting its strong climate risk management and disclosure practices.

Mahindra SA Inks MoU to Explore Auto Production Feasibility in South Africa

Mahindra South Africa, the local subsidiary of the Indian automative giant, signed a Memorandum of Understanding with the Industrial Development Corporation (IDC) to undertake an in-depth feasibility study on the potential establishment of a Completely Knocked Down (CKD) vehicle assembly facility in the country.
Mahindra South Africa is also in the process of increasing its productive capacity at its assembly facility operation by AIH Logistics in KwaZulu-Natal province as it enters a third decade in the country, which it often refers to as "Mahindra's second home."

Tuhin Kanta Pandey Appointed New SEBI Chairman

IAS Tuhin Kanta Pandey was appointed new SEBI Chairman. The 1987-batch officer from Odisha cadre replaced Madhabi Puri Buch, whose three-year tenure ended in February 2025.
Pandey holds a Masters in Economics from Panjab University, Chandigarh and an MBA from the University of Birmingham (UK).
Pandey was serving as the Secretary, Department of Revenue, Ministry of Finance and the Finance secretary before this appointment. Previously, he held the charge of Secretary of three Departments– Department of Investment & Public Asset Management (DIPAM), Department of Public Enterprises (DPE) and Department of Personnel and Training.

Feb 27, 2025

RBI Raises Small Loan Limit for UCBs to Rs. 3 Crore

The Reserve Bank of India (RBI) revised the small-value loan ceiling for Urban Co-operative Banks (UCBs), increasing it to Rs. 3 crore per borrower. This change is part of a broader initiative to redefine small-value loans and strengthen the financial stability of UCBs. While the new cap allows greater lending flexibility, RBI retained existing conditions, timelines, and prudential norms to ensure responsible credit allocation.

Muthoot Finance Gets RBI Nod to Open 115 New Branches

Muthoot Finance, India's leading gold loan non-banking financial company (NBFC), has secured approval from the Reserve Bank of India (RBI) to expand its branch network by adding 115 new branches across the country.
This expansion aligns with the company's focus on reaching more customers, particularly in underbanked and underserved regions. By increasing its physical presence, Muthoot Finance aims to strengthen its foothold in the gold loan segment and provide better access to financial services.

Canara HSBC Life Insurance Introduces 'Promise2Protect'

Canara HSBC Life Insurance unveiled its latest offering, Promise2Protect, as part of its commitment to deliver all-encompassing financial security solutions to a wide range of customers. This new term insurance plan is thoughtfully designed to provide robust protection against life's uncertainties, offering a wide range of flexible benefits to meet the differentiated needs of customers. With its customisable options, Promise2Protect ensures that policyholders can safeguard their families' financial future while aligning with their individual preferences and life goals.
Promise2Protect offers two variants- Life Secure and Life Secure with Return of Premium. Life Secure offers pure protection, securing the financial future of loved ones in the event of an unfortunate occurrence. Life Secure with Return of Premium provides the added benefit of refunding the premiums paid if no claims are made during the policy term.

SIDBI Signs MoU with Tata Capital Limited to Strengthen Financing Avenues for MSMEs

Small Industries Development Bank of India (SIDBI) and Tata Capital Limited (TCL) signed an MoU for "Partnership for financing MSMEs."
According to SIDBI, the focus is on the growth and development of the MSME ecosystem by way of providing funding avenues in the field of machinery/equipment financing, working capital/CC/OD/business loans, and loans against property, etc.
The MoU was signed by Vivek Kumar Malhotra, Chief General Manager, SIDBI and Vivek Chopra, Chief Operating Officer, of Retail Finance, TCL in the presence of senior SIDBI and TCL officials.
Since its formation in 1990, SIDBI acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities.

DPIIT and Paytm Join Hands to Drive Innovation and Scale India's Manufacturing & Fintech Start-up...

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has entered into a landmark partnership with fintech leader Paytm (One97 Communications Limited) through a Memorandum of Understanding (MoU) poised to boost hardware manufacturing and knowledge enhancement within India's blooming fintech start-up ecosystem.
As part of this collaboration, Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to start-ups, helping them scale and innovate. This initiative aims to equip entrepreneurs with essential resources, enhancing their ability to develop cutting-edge payment and financial technology solutions.

Axis Bank Hosts 9th Evolve Edition

Axis Bank hosted the 9th edition of its knowledge-sharing seminar, Evolve, to help Micro, Small, and Medium Enterprises (MSMEs) adapt to the changing business landscape. This year's theme, "Future-Proofing MSMEs for the New-Age Business," highlighted the need for digital transformation, innovation, and operational resilience. The initiative aims to equip entrepreneurs with practical insights and strategies to strengthen their businesses in an evolving market.
Since its launch in 2014, Axis Bank's Evolve program has impacted over 9,000 entrepreneurs across 50+ cities. The 9th edition was held in 10 major cities, including Delhi, Mumbai, Lucknow, Kolkata, Chennai, Hyderabad, Bangalore, Kochi, Indore, and Ahmedabad.

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