General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Dec 16, 2024

World's Richest Families 2024: Waltons Family Leads

The Bloomberg list of the world's richest families for 2024 reveals significant wealth disparities among the global elite. The Walton family ($432.4 billion), which owns Walmart, tops the list, surpassing not just other billionaire families but also the wealth of the world's richest individual, Elon Musk. Notable families from India, including the Ambanis and Mistrys, also made it to the top 25, reflecting the growing influence of Indian billionaires on the global wealth stage.
Ambanis ($99.6 billion) ranked 8^th on the list reflecting Reliance's growing influence in the global market.
Mistrys ($41.4 billion) ranked 23^rd showcasing their significant presence in the Indian and global construction sectors.

Manish Jain Appointed Executive Director at YES Bank

YES Bank announced that the Reserve Bank of India (RBI) had approved the appointment of Manish Jain as the Executive Director (Whole-Time Director) of the bank. Jain's appointment is for a period of three years, starting from December 11, 2024, to December 10, 2027. This move follows a prior resolution by the bank's board of directors and will be subject to the approval of YES Bank's shareholders. Manish Jain, who has been with YES Bank since September 2023, brings a wealth of experience in corporate and wholesale banking.
Manish Jain has been serving as the Country Head of Wholesale Banking since his arrival at YES Bank in September 2023.
Jain brings over three decades of work experience, including over 23 years with Standard Chartered Bank.
He holds a Post Graduate Diploma in Management from IIM Bangalore and a B.Tech in Mechanical Engineering from IIT Delhi.

FAME-III: New Milestone for Electric Mobility in India

India is aggressively advancing its electric vehicle (EV) ecosystem, and the launch of the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme marks a significant step in this journey. With an outlay of Rs. 10,900 crore over two years (April 2024 to March 2026), the scheme aims to promote electric mobility and reduce the country's dependence on fossil fuels.
The Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is gearing up for its third phase (FAME-III), expected to roll out within the next two months. The government is determined to ensure that India becomes a global leader in electric mobility, with a vision of a 'Viksit Bharat.'

BOBCARD Launches TIARA Credit Card

BOBCARD has launched the TIARA Credit Card, a premium, women-centric offering designed to empower modern women. This card is packed with rewards across various categories such as travel, lifestyle, dining, entertainment, and health, providing women with the tools to manage their finances without compromising on lifestyle. The launch event, held at Pinkathon, featured notable personalities like Milind Soman and Ankita Konwar. TIARA is powered by the RuPay network and promises to be a game-changer for women's financial autonomy.
The TIARA card not only offers a wealth of benefits but also challenges the societal perception of the "woman card," making it a symbol of pride, success, and financial empowerment. With the slogan 'Your Woman Card is Your Power Move', BOBCARD aims to inspire women to take control of their financial future and live without limits.

Dec 15, 2024

Tivolt, Tata Power Renewable Partner to Boost EV Charging Infrastructure

Tivolt Electric Vehicles Pvt Ltd, the EV division of the diversified business conglomerate Murugappa Group, signed a memorandum of understanding (MoU) with Tata Power Renewable Energy Ltd to enhance e-mobility for commercial vehicles.
The partnership aims to build a robust electric vehicle charging ecosystem by leveraging Tata Power's expertise in diversified EV charging solutions and Tivolt Electric Vehicles' rapidly growing network of small electric commercial vehicles across the country.
As per the MoU, Tata Power Renewable Energy Ltd will bring its extensive experience in setting up and managing an expansive EV charging infrastructure to Tivolt Electric Vehicles' dealerships, public spaces, and customer locations.

Dec 14, 2024

TCS Extends Partnership with Telenor Denmark for Five Years

Tata Consultancy Services (TCS) extended its partnership with mobile operator firm Telenor Denmark, signing a five-year deal to manage the telecom operator's IT infrastructure. Over the last six years, TCS has implemented its Machine First Delivery Model to enhance Telenor Denmark's IT infrastructure, which caters to more than 1.6 million users.
With the extension of this partnership, TCS will work from its delivery centre in Europe to ensure operational cost reductions and improved IT infrastructure for Telenor.

TransUnion CIBIL CEO Rajesh Kumar Quits; Chief Revenue Officer Bhavesh Jain elevated as successor

Credit information company TransUnion CIBIL Ltd said thatRajesh Kumar, its Chief Executive and Managing Director for the past five years, resigned.
The credit information company said that it elevated Chief Revenue Officer Bhavesh Jain to the position vacated by Kumar, who resigned citing personal reasons.
The timeline for Kumar's departure and Jain's transition into the new role was not specified.
The announcement of the top executive's departure came days after Congress MP Karti Chidambaram criticised TransUnion CIBIL in the Lok Sabha, and blamed the company for being non-transparent.

Dec 13, 2024

Coca-Cola Sells 40% Stake in India Bottling Business to Jubilant Bhartia Group

Coca-Cola, the global beverage leader, sold a 40% stake in its Indian bottling arm, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to Jubilant Bhartia Group. This move signifies a strategic shift in Coca-Cola's operations in India and reflects the growing influence of Jubilant Bhartia Group in the country's beverage sector.

India Skills Report 2025

The India Skills Report 2025 was released based on a comprehensive Global Employability Test (GET) conducted across the country.
The report surveyed over 6.5 lakh youth and captured insights from 1,000 corporations spanning 15 industries.
Kerala continues to shine as one of the most employable States in India, as indicated by the India Skills Report 2025.
The report, published by talent assessment agency Wheebox in association with various agencies including the All India Council for Technical Education, Confederation of Indian Industry and Association of Indian Universities, revealed that Kerala's workforce maintains a strong employability rate of 71%, placing it on the fifth position after Maharashtra, Delhi, Karnataka and Andhra Pradesh.
Kerala also joined the ranks of Tamil Nadu, Maharashtra and Uttar Pradesh as the top States favoured for employment across India. The State is especially preferred by female job aspirants, in a validation of its strong workplace inclusion initiatives and diverse professional environments.

Dec 12, 2024

Flipkart and DPIIT Collaborate to Boost India's Start-up Ecosystem

Flipkart signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to accelerate the growth of tech start-ups across India. The collaboration builds on Flipkart's existing initiatives, including the Flipkart Leap and Ventures program, supported by a $100 million fund aimed at empowering innovators and entrepreneurs. Since its inception, Flipkart has invested in over 20 start-ups, with a focus on nurturing early-stage ventures.
The partnership will enable start-ups to access government market research reports, datasets, and studies, alongside fast-tracked patent applications.

Amul Extends Jayen Mehta's MD Tenure by 5 Years

Amul extended Managing Director, Jayen Mehta's tenure until 2029-2030. Mehta. Mehta who has been with Gujarat Cooperative Milk Marketing Federation (GCMMF) since 1991, has played a key role in shaping the AMUL brand through various positions in the marketing department. His extended leadership marks a crucial phase for the dairy giant as it continues to thrive under his direction.

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