General Awareness

BUSINESS AND ECONOMY - January 2018

Jan 2018

Nov 26, 2025

Government Appoints New Executive Directors in Multiple Banks

In a significant move, the Government of India appointed five new Executive Directors (EDs) across leading Public Sector Banks (PSBs) to strengthen the management and operational leadership. The appointments took effect on November 24, 2025, and each is set for a three-year tenure.
Sunil Kumar Chugh previously Chief General Manager (CGM) at Punjab National Bank, Chugh was appointed as ED at Canara Bank. He brings a wealth of experience in banking operations, compliance, and financial management.
Amresh Prasad also a CGM at Punjab National Bank, Prasad will now serve as ED at Union Bank of India, enhancing the leadership bench at one of India's key state-run banks.
Prabhat Kiran who was serving as CGM in Canara Bank, has been elevated to Executive Director at Bank of Maharashtra, bringing deep insight from his previous roles in credit and corporate banking.
Mini TM, CGM at Bank of Baroda, has been appointed as ED at Indian Bank. With decades of experience in branch operations and retail banking, she is expected to add value to Indian Bank's transformation strategy.
Amit Kumar Srivastava, who was the Group Chief Risk Officer at PNB, has now been promoted as Executive Director in the same bank. His background in risk and compliance aligns well with the growing importance of prudent risk governance in banking.

AU Small Finance Bank Strengthens Board with 2 New Independent Directors

AU Small Finance Bank strengthened its board with the appointment of two new independent directors and the reappointment of an existing one.
The bank appointed N. S. Venkatesh and Satyajit Dwivedi as non-executive independent directors for a three-year term, and reappointed Malini Thadani for a second three-year term, subject to shareholder approval.
Venkatesh, a chartered accountant with over four decades of experience, has held leadership roles at IDBI, the Association of Mutual Funds in India (AMFI) and Lakshmi Vilas Bank. Dwivedi brings more than 35 years of experience in development finance, agriculture, microfinance and rural banking. He has held senior roles at NABARD, Nabkisan Finance and the National Centre for Financial Education.

Nov 25, 2025

India & Afghanistan Hold Talks to Deepen Cooperation in Textile Sector

A high level delegation of India and Afghanistan discussed to explore avenues for deeper economic engagement in the textile sector. Ministry of Textiles said that a high-level delegation from Afghanistan, led by Director General of Economic Relations, Shafiullah Azam, met Trade Advisor of the Textiles Ministry A. Bipin Menon in New Delhi. During the meeting, both sides discussed avenues for mutual cooperation, including technical support and training for Afghan cotton farmers, facilitation of shipments and visas, and closer engagement between industry bodies of both countries. The visiting delegation also articulated Afghanistan's priority to strengthen its textile ecosystem, create employment opportunities, and enhance training facilities for farmers entering the cotton and textile value chain.

J&K to Hold First-Ever Limestone Block Auction

In a step toward enhancing mineral development, Jammu & Kashmir hosted its first-ever auction of limestone blocks in November 2025. This event marked the beginning of a new era in the Union Territory's mining sector, aimed at attracting investment, boosting industrial activity, and unlocking the region's economic potential. The auction took place at the Convention Centre, Jammu, in the presence of Union Minister of Coal and Mines G. Kishan Reddy, Chief Minister Omar Abdullah, and Deputy Chief Minister Surinder Choudhary.
The move to auction limestone blocks is part of broader mining sector reforms that seek to make mineral allocation more transparent and competitive. Jammu & Kashmir, rich in mineral deposits but underexplored due to decades of limited private sector involvement, now stands at the cusp of a major transformation.

Nov 24, 2025

Sandip Pradhan Appointed as Whole-Time Member of SEBI

The Government of India appointed Sandip Pradhan as a Whole-Time Member of the Securities and Exchange Board of India (SEBI). His term will last three years from the date he assumes charge or until further orders, whichever is earlier. This appointment was notified by the Ministry of Finance under provisions of the SEBI Act, 1992.
Sandip Pradhan is a senior Indian Revenue Service (IRS) officer with a strong background in tax investigation and enforcement.

RBI Announces Interlinking of UPI with European Instant Payment System

In a significant move, the Reserve Bank of India (RBI) announced the interlinking of Unified Payments Interface (UPI) with the TARGET Instant Payment Settlement (TIPS) of the Eurosystem.
The proposed UPI-TIPS interlinkage aims to facilitate cross-border remittances between India and the Euro Area and is expected to benefit users of both jurisdictions.
Notably, the Reserve Bank of India has been actively pursuing interlinking of Unified Payments Interface (UPI) with fast payment systems of other jurisdictions to promote cross border payments.

Government to Release New Series of National Accounts for GDP 2026

The Government of India will roll out a new series of national accounts on February 27, 2026, with fiscal year 2022–23 as the new base year, according to the Ministry of Statistics and Programme Implementation (MoSPI). This update is part of a regular revision cycle aimed at improving the accuracy, relevance, and timeliness of national economic data, which serves as a key input for economic planning, policymaking, and research.
National account statistics—used to compute Gross Domestic Product (GDP), Gross Value Added (GVA), and related indicators—are typically revised every few years to,
Reflect structural shifts in the economy
Incorporate new and updated data sources
Adopt refined methodologies in line with international standards
Adjust for changes in consumption patterns, production trends, and investment flows
The last major revision took place in 2015, when the base year was changed from 2004–05 to 2011–12. The upcoming revision will bring this up to date with post-pandemic economic realities and the rise of the digital and service economy.

Nov 23, 2025

Dell Names Anurag Arora as Senior Director, GM for India Consumer Business

Dell Technologies announced the appointment of Anurag Arora as senior director and General Manager, consumer sales for the India market.
Arora will drive business growth, sales and strategy for the consumer segment across the India market.
He brings 28 years of experience with brands across sales, product management, channel distribution, large format retail, e-commerce and brand websites.
Arora joined Dell Technologies in July 2020, and has since played a key role in shaping strategies for the India consumer business, including Dell.com and retail channels.

Nov 22, 2025

Delhi's Khan Market 24th most Expensive Global Retail Spot

Delhi's upscale Khan Market rank slipped one notch to 24^th in a global list of the most expensive high-street retail locations, with an annual rent of $223 per sq ft, according to Cushman & Wakefield.
Nevertheless, Khan Market remains India's most expensive high street.
As per the Cushman & Wakefield report released, London's New Bond Street became the world's most expensive retail destination, with an annual rent of $2,231 per square foot per year.
Via Monte Napoleone in Milan, Italy, lost its top position and became the 2nd most expensive main street globally with an annual rent of $2,179 per sq ft.
New York's Upper 5th Avenue (49th to 60th Sts) was at third position with an annual rent of $2,000 per sq ft, compared to rank 2nd in the last year's (2025) list.
Global real estate consultant Cushman & Wakefield released its flagship retail report 'Main Streets Across The World 2025' that focuses on headline rents in 138 best-in-class urban retail locations globally.

Ashok Leyland Partners with FAMCO Qatar to Boost Presence in Gulf Markets

Commercial vehicle maker Ashok Leyland partnered with Qatar-based Al-Futtaim Group's firm FAMCO Qatar to strengthen presence in the country off the Persian Gulf as part of its overseas expansion plans.
The move builds on Ashok Leyland's expansion into Saudi Arabia with FAMCO KSA last year (2024), reinforcing the strong strategic alliance between Al-Futtaim and Ashok Leyland.
Through its partnership with FAMCO Qatar, Ashok Leyland will introduce its full commercial vehicle range, including the new electric bus, tailored to the needs of local businesses and communities.

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