General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Dec 06, 2024

Nykaa Fashion CEO Nihir Parikh Steps Down with Immediate Effect

Nykaa Fashion Chief Executive Officer Nihir Parikh resigned and was relieved with immediate effect.
Parikh resigned after holding several management roles at Nykaa for almost a decade. Parikh started in Nykaa as chief strategy officer in 2015 and went on to lead as chief business officer in 2016 for the next five years. In 2021, Parikh was promoted to CEO of NykaaMan and Head of Retail before becoming the CEO of NykaaFashion.com in 2023 and continuing as chief of NykaaMan.

SEBI Fines Reliance Securities Rs. 9 Lakh for Rule Violations

SEBI (Securities and Exchange Board of India) imposed a Rs. 9 lakh penalty on Reliance Securities Ltd (RSL) for breaching stock broker norms and market regulations following an inspection. The action was triggered after a review of RSL's records and documents by SEBI, NSE, and BSE from April 2022 to December 2023.
The inspection identified multiple violations including poor record-keeping, unauthorised terminal use, and lack of proper office segregation. Despite corrective steps taken by RSL, SEBI maintained that non-compliance during the inspection period warranted the penalty.

Shareholders Approve Gautam Singhania as Raymond Lifestyle Chairman

Gautam Hari Singhania was confirmed as the Executive Chairman of Raymond Lifestyle, following shareholder approval at the company's Annual General Meeting (AGM).
A special resolution for his appointment received 86.85% of the total votes cast.
The resolution not only secured the requisite majority but also highlighted strong support from the shareholders, despite earlier objections raised by proxy advisory firms. The AGM also approved eight additional resolutions, including the appointment of Independent Directors and Sunil Kataria as the company's Managing Director.

Dec 05, 2024

Hyundai Motor Group Ties up with IITs to Advance Battery, Electrification Research

Hyundai Motor Group tied up with three IITs to establish a collaborative research system in the fields of batteries and electrification entailing an investment of USD 7 million over five years. The South Korean group, which has presence across multiple segments including mobility, tied up with IIT Delhi, IIT Bombay and IIT Madras.
As part of the collaboration, Hyundai Centre of Excellence (CoE), will be set up within IIT Delhi and would operate through sponsorships from Hyundai Motor Group.

RBI Increases UPI Lite Wallet and Transaction Limits

In a bid to enhance digital payments, the Reserve Bank of India (RBI) raised the UPI Lite wallet limit to Rs. 5,000, with an increase in the per-transaction limit to Rs. 1,000. This adjustment aims to promote wider adoption of UPI Lite and ease offline transactions, providing a more seamless experience for users.
Per-Transaction Limit: The transaction limit for UPI Lite has been raised from Rs. 500 to Rs. 1,000, making it easier for users to conduct higher-value offline payments without the need for internet connectivity.
Total Wallet Limit: The total wallet limit for UPI Lite has been increased to Rs. 5,000 from Rs. 2,000. This change allows users to store more funds in their wallet for convenient small-value transactions.
Replenishment Process: The replenishment of the used limit will be allowed only in online mode, secured by Additional Factor Authentication (AFA), ensuring a higher level of security.

Bharti Airtel Signs Multi-billion Deal with Ericsson for 4G, 5G Expansion

Bharti Airtel, India's second-largest telecom operator, signed a multi-year, multi-billion-dollar agreement with Swedish telecom equipment provider Ericsson to extend its 4G and 5G contracts.
As per the new contract, Ericsson will deploy centralised RAN and Open RAN-ready solutions for network transformation which will help customers with wider coverage and enhanced capacity on the network. Ericsson will also undertake the software upgradation of its currently deployed 4G radios thereby enhancing the customer experience.

Dec 04, 2024

Govt. Scraps Windfall Tax on Oil, Fuel Exports

The Central Government scrapped the windfall profit tax on domestically produced crude oil, diesel, petrol, and aviation turbine fuel (ATF), following a decline in international oil prices.
A windfall tax is levied by governments against certain industries when economic conditions allow those industries to experience significantly above-average profits.
The tax was introduced in July 2022 to tax supernormal profits of oil-producing companies, which they were earning because of rising global crude prices. Now, since the average prices are coming down, the government was not earning much in revenue, so it decided to withdraw the tax.

Dec 03, 2024

Telangana Joins Mineral Auction Regime, Auctions Limestone Blocks

Telangana joined India's mineral auction regime, with the auction of two limestone blocks at Sultanpur and Saidulnama. These blocks, essential for cement manufacturing, were auctioned to NCL Industries and Deccan Cement. This marks the state's entry into the Centre's mineral auction system, making it the 14th state to participate. The Centre had earlier urged Telangana to auction 11 limestone blocks, with a deadline set for the first phase; failure to comply would have led the Centre to conduct the auction itself.

Intel CEO Pat Gelsinger Steps Down

Intel Chief Executive Pat Gelsinger was forced out less than four years after taking the helm of the company, handing control to two lieutenants as the faltering American chipmaking icon searches for a permanent replacement.
Gelsinger, who resigned, left after a board meeting during which directors felt Gelsinger's costly and ambitious plan to turn Intel around was not working and the progress of change was not fast enough. The board told Gelsinger he could retire or be removed, and he chose to step down.

Dec 01, 2024

GAIL India Signs Long-term Charter Deal with K-Line for New LNG Ship

State gas utility GAIL (India) Ltd signed an agreement with Kawasaki Kisen Kaisha, Ltd for long-term charter hire of a newly built LNG ship.
The pact was signed through the ship-owning company established in Singapore.
The contract was signed in the presence of R K Jain, GAIL Director (Finance), Sanjay Kumar, GAIL Director (Marketing), and R. K. Singhal, GAIL Director (Business Development) by S. Bairagi, GAIL Executive Director (Marketing - Shipping & International LNG) and Satoshi Kanamori, Managing Executive Officer (LNG, Carbon Solution Business), K-Line.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

July GK, June GK, May GK, INTERNATIONAL AFFAIRS, ENVIRONMENT, BUSINESS AND ECONOMY, SCIENCE & TECHNOLOGY, SPORTS, NATIONAL AFFAIRS, DEFENCE, PERSONS IN NEWS, DAYS AND EVENTS, AWARDS AND HONOURS, GOVERNMENT POLICIES AND SCHEMES, GENDER/ HEALTH/ EDUCATION, ART AND CULTURE, BOOKS AND AUTHORS, TOURISM AND HOTEL INDUSTRY AWARENESS, ART AND CULTURE, LAW AND CONSTITUTIONAL AFFAIRS

Start Discussion

On any topic

Take Tests

Compiled from GK updates

Login

Sign Up

Forgot Password

Download TCY App

Unlock All Services And Enjoy The Premium Benefits

US$ 10

US$ 13

US$ 15

US$ 17

US$ 19

US$ 20

US$ 21

US$ 22

US$ 23

US$ 24

US$ 25

US$ 26