General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Dec 13, 2023

Poonawalla HF Gets a New Name, Rebrands as Grihum Housing Finance

Post the acquisition of Poonawalla Housing Finance by TPG Capital Asia, the company got on a new identity 'Grihum Housing Finance'.
The global private equity firm, TPG acquired a 99.02 per cent equity stake in the company, taking over from Poonawalla Fincorp earlier this year (2023).
Speaking on the rebranding, Manish Jaiswal, Managing Director and Chief Executive Officer of Grihum Housing Finance said, "Grihum, a portmanteau of 'Grih' (home) and 'Hum' (togetherness), embodies our essence as a company.

CoinSwitch Unveils Umbrella Brand PeepalCo

As crypto investing platform CoinSwitch moves to diversify into a wealth-tech start-up, it rolled out a new umbrella brand, PeepalCo, to house all its business segments.
This came at a time when the crypto unicorn is in the process of offering various highly-regulated investment products, including fixed deposits, bonds, exchange-traded funds (ETFs), stocks, and mutual funds.
Creating a house of brands will help the start-up stay nimble and navigate the regulatory landscape and uncertainties better in India.

Dec 12, 2023

Tata Power Ties Up with Indian Oil to Set Up over 500 EV Charging Stations

Tata Power EV Charging Solutions Ltd (TPEVCSL) signed a memorandum of understanding (MoU) with Indian Oil Corporation Limited (IOCL) to install over 500 electric vehicle (EV) charging points across the country. Tata Power will set up the stations at IOCL's retail outlets.
This strategic collaboration focuses on building a reliable and expansive intercity charging network, which will help alleviate range anxiety for EV owners travelling between cities.
These EV charging points will be installed in major cities like Mumbai, Delhi, Kolkata, Bengaluru, Ahmedabad, Pune, and Kochi, as well as across major highways such as the Mumbai-Pune Expressway, Salem-Kochi Highway, Guntur-Chennai Highway and the Golden Quadrilateral.

Infosys Appoints Jayesh Sanghrajka as CFO as Nilanjan Roy Resigns

Infosys appointed Jayesh Sanghrajka as its Chief Financial Officer (CFO) and key managerial personnel of the company.
Sanghrajka was appointed as CFO as Nilanjan Roy, resigned after serving in this role since 2018.
Sanghrajka has over 25 years of work experience and is a chartered accountant by qualification. He has spent over 18 years at Infosys across two stints and has performed various leadership roles.

Vaishali Kasture Resigns as AWS India's Interim Country Head

Vaishali Kasture, Amazon Web Services (AWS) India and South Asia's interim country head for commercial business, resigned from her position.
She had taken over from the former president of commercial business, Puneet Chandok, in July 2023. Her tenure at AWS spanned nearly five years. Before becoming the interim country head, she was the head of top enterprise, mid-market, and global businesses in India and South Asia.

Dec 11, 2023

Bank of India Launches Nari Shakti Savings Account

Bank of India, a leading public sector bank in India, launched its Nari Shakti Savings Account at the hands of MD & CEO, Rajneesh Karnatak, in the gracious presence of the Board of Directors at the Head Office in Mumbai. This exclusive Savings Bank Product is aimed at catering to women aged 18 and above with an independent source of income.
The Nari Shakti Savings Account is conceptualised as a financial savings tool to support working women with an independent source of income, enabling them to become self-reliant and enjoy a higher degree of financial freedom. For each New Nari Shakti Account opened, the bank will make a contribution of Rs. 10 towards the CSR fund, which will be utilised for the socio-economic development of underprivileged women and the girl child.

Bimal Dayal is New CEO of Adani Infra India

Adani Energy Solutions' transmission business Chief Bimal Dayal was appointed as the CEO of Adani Infrastructure India.
Dayal will oversee the implementation of the pipeline of infrastructure projects in thermal, renewable energy and green hydrogen by Adani Infrastructure India.

Dec 10, 2023

RBI Cancels License of UP Based Urban Co-operative Bank

The Reserve Bank of India (RBI) cancelled the license of Urban Co-operative Bank (UCB) located in Sitapur, Uttar Pradesh.
According to the RBI, the primary reason behind the license cancellation was that the Urban Co-operative Bank ceased to carry on its banking business. The central bank expressed concerns about the bank's financial health, leading to the decision to terminate its operations.

IDFC FIRST Bank's ED Madhivanan Balakrishnan Resigns

The Executive Director (ED) and key managerial personnel of IDFC FIRST Bank, Madhivanan Balakrishnan tendered his resignation.
Madhivanan Balakrishnan joined IDFC FIRST Bank in 2019.

Dec 09, 2023

RBI Keeps Repo Rate Unchanged at 6.5%

Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank's Monetary Policy Committee (MPC) decided to keep the key repo rate steady at 6.5 per cent.
The decision to maintain the key repo rate at 6.5 per cent marked the fifth instance when the 6-member Monetary Policy Committee (MPC) opted to keep the interest rates unchanged.
The RBI Governor highlighted that easing inflation across all components of retail inflation is one of the reasons behind the MPC's decision to keep the repo rate unchanged.

RBI Hikes UPI Limit for Hospital, Educational Payments

The Reserve Bank of India raised the UPI payment limits to Rs. 5 lakh from Rs. 1 lakh earlier. While making the announcement, RBI Governor Shaktikanta Das said that it will allow consumers to make higher UPI payments for education as well as medical purposes.
The announcement of the increased UPI payment limit is a welcome move, signalling a positive shift in the dynamics of financial transactions. This strategic decision holds the potential to bring about a transformative impact, especially in the context of healthcare.

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