General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Nov 15, 2024

$8.5B Disney-Reliance Merger Completed for Indian Assets

Reliance Industries and Walt Disney have finalised an $8.5 billion merger of their Indian media assets, concluded on 14^th November. The merged assets have been reorganised into three distinct divisions, each led by its own CEO, marking a new era for the two media giants in India.
The merger was finalised combining the Indian media assets of Reliance Industries and Walt Disney.
Three main divisions have been created: Entertainment, Digital, and Sports.

Shriram General Insurance Join Hands with Muthoot Group

Shriram General Insurance partnered with The Muthoot Group, enabling Muthoot Securities Ltd. customers to easily access SGIC's range of general insurance products through an integrated online platform. This collaboration, formalised by Ragesh G. R, CEO of Muthoot Securities Ltd, and Aftab Alvi, Executive Director & Chief Marketing Officer of SGIC, aims to offer a seamless and convenient insurance purchasing experience.

RBI Maintains SBI, HDFC Bank, and ICICI Bank as D-SIBs

The Reserve Bank of India (RBI) confirmed that State Bank of India (SBI), HDFC Bank, and ICICI Bank will continue to be classified as Domestic Systemically Important Banks (D-SIBs), with an increase in additional capital requirements for SBI and HDFC Bank starting April 2025.
The D-SIB framework, introduced by RBI in 2014 and updated in 2023, designates these banks as too significant to fail due to their size, complexity, and interconnectedness in the financial system. These banks are subject to higher capital buffers to ensure financial stability.

Nov 14, 2024

India International Trade Fair Begins

More than 3,500 exhibitors from India and overseas are expected to participate in the 14-day India International Trade Fair (IITF), which began at Bharat Mandapam in New Delhi.
The 43rd IITF is likely to attract about one lakh visitors a day.
According to the India Trade Promotion Organisation (ITPO), under the commerce ministry, the fair is a key platform to showcase the strength of Indian industry and quality products.
The theme for the fair is 'Viksit Bharat @2047'.
Bihar and Uttar Pradesh are participating as Partner States whereas Jharkhand is participating as Focus State.
As many as 11 countries – China, Egypt, Iran, South Korea, Sweden, Thailand, Türkiye, Tunisia, Lebanon, Kyrgyzstan and the UAE – are also participating in the fair.
The business days of IITF 2024 are from November 14 to 18 and entry for General visitors from 19-27 November 19 to 27, 2024.

Mara Kocho New Managing Director of NEHHDC

Mara Kocho, a trailblazer from the Nyishi community, was appointed as the Managing Director of the North Eastern Handicrafts and Handlooms Development Corporation (NEHHDC), a Central Public Sector Enterprise under the DoNER ministry. This significant development is expected to propel the growth of handicrafts and handlooms in North East India.
Kocho's inspiring journey from BSNL to NEHHDC is a testament to his exceptional leadership skills and dedication. As the first Indian Engineering Service (IES) officer from the Nyishi community, he has made his community proud and paved the way for others to aspire to greater heights.
With Mara Kocho at the helm, NEHHDC is set to make a significant impact on the lives of artisans and weavers in North East India, while showcasing the region's rich cultural heritage to the world.

Indian Oil Corporation Welcomes Arvindar Singh Sahney as New Chairman

Arvindar Singh Sahney was appointed as the new chairman of Indian Oil Corporation (IOC), the nation's largest oil firm, as per an order from the petroleum ministry.
The Appointments Committee of the Cabinet (ACC) approved Sahney's appointment as chairman for a five-year tenure, starting from the date he assumes office, until his superannuation, or until further orders, whichever is earliest.
The chairman position became vacant when Shrikant Madhav Vaidya completed his extended tenure on August 31, 2024. Following his departure, Satish Kumar Vaduguri, IOC's Director of Marketing, took on additional responsibilities as acting chairman.
Sahney is the second individual, after B Ashok, to be appointed as chairman without prior board-level experience at IOC. B Ashok was previously appointed as IOC's chairman in 2014 while serving as Executive Director of Retail.

Nov 12, 2024

Hindalco Tops Global Sustainability Rankings for 5th Year

Hindalco Industries Ltd., the metals arm of the Aditya Birla Group, secured the top position as the world's most sustainable aluminium company for the fifth consecutive year, according to the 2024 S&P Global Corporate Sustainability Assessment (CSA) rankings. The company earned a total score of 87 points, improving by 9 points from 2023, and surpassed its closest competitor by 22 points.

Vistara Bids Adieu with Last Flight to Singapore

After operating for nearly 10 years, full service carrier Vistara flew into the sunset operating its last flight from the national capital to Singapore.
Vistara, a joint venture between Tata Sons and Singapore Airlines, has now merged with Air India, creating an enlarged entity that is now the country's largest international carrier and second-largest domestic carrier.
Vistara was based in Gurgaon, with its hub at Indira Gandhi International Airport. The carrier, a joint venture between Tata Sons and Singapore Airlines, commenced operations in January 2015.

Nov 11, 2024

Finance Minister Launches Union Bank's Nari Shakti Branches to Empower Women Entrepreneurs

Union Finance Minister Nirmala Sitharaman inaugurated five specialized "Nari Shakti" branches of Union Bank of India in Bengaluru, Chennai, Visakhapatnam, and Jaipur. These branches aim to boost financial inclusion and support for women entrepreneurs, especially in the manufacturing and service sectors. By launching these branches, the government and Union Bank emphasise empowering women through accessible finance, skills training, and advisory services, strengthening India's goal of gender-focused economic growth.

NTPC Celebrates 50th Raising Day

NTPC Ltd, India's largest integrated power utility, celebrated its 50th Raising Day, marking five decades of remarkable growth, innovation, and contribution to India's power sector. Gurdeep Singh, CMD hoisted the NTPC flag at the Engineering Office Complex (EOC), Noida in the presence of Directors on the Board and senior officials. Employees from all locations joined the celebrations via video conferencing.
During the occasion, CMD NTPC virtually launched the Hydrogen-fuel buses which are set to operate at Leh. The hydrogen buses represent a significant leap in NTPC's commitment to advancing clean and green technologies.
Additionally, he announced a major groundbreaking achievement — the successful synthesis of CO2 captured from flue gas with hydrogen produced from a PEM electrolyzer, which was then converted into methanol at NTPC's Vindhyachal plant.

Nov 10, 2024

Ministry of Labour & Employment and Cygnus Ujala Group Sign MoU (10)

Ministry of Labour & Employment and Cygnus Ujala group signed a Memorandum of Understanding (MoU) in New Delhi, marking a significant step toward enhancing employment accessibility in healthcare sector. The MoU was signed in the presence of Union Minister of Labour & Employment and Youth Affairs & Sports, Mansukh Mandaviya and Secretary, MoL&E, Ms. Sumita Dawra. This highlights a joint commitment to leveraging the National Career Service (NCS) portal for boosting job opportunities. This is the first healthcare group which is directly getting associated with NCS & it will provide a boost to the healthcare job opportunities on NCS.

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