General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Nov 25, 2024

FSIB Recommends Binod Kumar for the Post of MD and CEO of Indian Bank

Financial Services Institutions Bureau (FSIB), the selector of top executives in public sector banks and financial institutions, recommended Binod Kumar for the position of Managing Director & CEO in Indian Bank.
Kumar is serving as Executive Director of Punjab National Bank.

Govt. Should Include Coking Coal in Critical Minerals List: NITI Aayog

The NITI Aayog recommended adding coking coal to India's critical minerals list, emphasising its importance in steel production and infrastructure development. This aligns with global trends, such as the European Union's declaration of coking coal as a critical raw material. India's heavy reliance on imports (85% of its coking coal) underscores the need to enhance domestic production.
The report "Enhancing Domestic Coking Coal Availability to Reduce the Import of Coking Coal" advocates for policy changes to leverage India's 16.5 billion tonnes of medium coking coal reserves and achieve self-reliance while adhering to Net Zero commitments by 2070.

Nov 24, 2024

RBI Doubles UPI 123Pay Limit to Rs. 10,000 for Feature Phones

The Reserve Bank of India (RBI) increased the transaction limit for UPI 123Pay from Rs. 5,000 to Rs. 10,000. This change is set to benefit millions of feature phone users across India who have limited access to the internet.
UPI 123Pay is a unique service that allows digital payments on feature phones without the need for internet connectivity.

Nov 23, 2024

World Bank Launches 'Jobs at Your Doorstep' Report in Delhi

The Union Minister for Education, Dharmendra Pradhan, along with Minister of Labour and Employment, Youth Affairs and Sports Mansukh Mandaviya, launched the World Bank's report titled 'Jobs at Your Doorstep: A Jobs Diagnostics for Young People' in six states in New Delhi. The report focuses on bridging skill gaps in young people and aligning school curricula with industry needs.

DPIIT Approves Hinduja Group's IIHL Acquisition of Reliance Capital

The Department for Promotion of Industry and Internal Trade (DPIIT) granted approval for the Rs. 10,000-crore acquisition of Reliance Capital Ltd. (RCAP) by IndusInd International Holdings Ltd. (IIHL), a Hinduja Group-backed firm.
This marks a significant development in the resolution of the debt-ridden Reliance Capital, which had accumulated liabilities exceeding Rs. 40,000 crore. The deal, which has passed through the necessary regulatory clearances, paves the way for the finalisation of the acquisition, resolving one of the key challenges facing the troubled financial entity.

Nov 22, 2024

Tata Power Signs Historic $4.25B Agreement with ADB

Tata Power, a leading integrated power company in India, signed a memorandum of understanding (MoU) with the Asian Development Bank (ADB) for $4.25 billion to finance various clean energy projects. This collaboration aims to promote renewable energy sources, improve India's power infrastructure, and contribute to achieving the country's ambitious renewable energy goals. The partnership includes financing for large-scale solar-wind hybrid projects, pumped hydro storage systems, and enhancing power distribution networks.

RBI, Maldives Monetary Authority Sign Pact to Promote Use of Local Currencies

The RBI and the Maldives Monetary Authority signed an MoU in Mumbai for establishing a framework to promote the use of local currencies — the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions.
The Memorandum of Understanding (MoU) was signed by Governor of Reserve Bank of India Shaktikanta Das and Governor of Maldives Monetary Authority Ahmed Munawar.
Use of local currencies in bilateral transactions will eventually contribute to promoting trade between India and Maldives as well as deepen financial integration and strengthen the economic relations between India and Maldives.

Kenya Cancels Airport, Energy Deals with Adani Group

The Kenyan government scrapped its airport and energy deals with the Adani Group, hours after the conglomerate's chairperson Gautam Adani was indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme.
Kenyan President William Ruto directed the relevant agencies to "immediately cancel" the ongoing procurement process related to Nairobi's Jomo Kenyatta International Airport (JKIA) and a state-owned electricity service with Adani Group.

Nokia Wins Multi-billion Dollar Deal in India

Finland-based telecom gear maker Nokia won a "multi-year, multi-billion" extension deal by Bharti Airtel to deploy 4G and 5G equipment across key Indian cities and states.
Nokia will also help Airtel modernise its existing 4G network with multiband radios and baseband equipment, which can support 5G.
Airtel will also use Nokia's MantaRay Network Management for network monitoring and management that uses artificial intelligence (AI)-based tools covering digital deployment, optimisation, and technical support.

Nov 21, 2024

Paytm UPI Goes Global

Paytm launched UPI International, allowing Indian travellers to make Unified Payments Interface (UPI) transactions at select global locations. This feature enables users to make cashless payments using the Paytm app in the UAE, France, Mauritius, Singapore, Bhutan, and Nepal, the company announced.

SBI Horniman Circle Marks 100 Years of Legacy

The State Bank of India (SBI) celebrated the centenary of its iconic Horniman Circle Branch (Mumbai) with the unveiling of a specially minted Rs. 100 commemorative coin by Finance Minister Nirmala Sitharaman. The event also featured the release of the 5th edition of the book 'The Evolution of the State Bank of India,' detailing the bank's transformation between 1981 and 1996. From its humble beginnings with just 100 branches in 1920, SBI today boasts over 22,640 branches, with plans to expand further in FY25. The bank's impressive digital presence, financial inclusion efforts, and significant role in India's banking revolution were highlighted during the event.

Tata Power & Druk Green Power Collaborate on 5,000 MW Green Energy Project in Bhutan

Tata Power entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC) to develop at least 5,000 MW of clean energy generation capacity in Bhutan. This collaboration aims to harness Bhutan's vast hydropower potential and contribute to the region's energy security and sustainability. The initiative aligns with Bhutan's vision to diversify its energy portfolio and improve regional energy integration.

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