General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Mar 11, 2025

Bank of Baroda Launches 'bob Global Women NRE & NRO Savings Account' for Women NRIs

In March 2025, Bank of Baroda (BoB) introduced the 'bob Global Women NRE & NRO Savings Account', marking a first among public sector banks with an NRI account designed specifically for women. This account aims to empower women NRIs by providing premium banking privileges, concessional loan rates, and insurance benefits. Additionally, BoB revamped its 'bob Premium NRE & NRO Savings Account' to enhance customer experience with new features and benefits.
The insurance coverage includes: Rs. 50 lakh Air Accident Insurance and Rs. 5 lakh Personal Accident Insurance. Auto Sweep Facility is also available on demand to earn higher interest.

Government Initiatives to Promote Gas-Based Power Generation

Gas-based power plants in India are currently operating at a low Plant Load Factor (PLF), impacting their efficiency and contribution to the energy sector. To address this, the Government of India has taken several measures to enhance the availability and affordability of natural gas for power generation. Key steps include placing Liquefied Natural Gas (LNG) under the Open General Licence (OGL) category, facilitating infrastructure expansion, and implementing policy reforms to encourage gas-based energy production. This article explores various initiatives aimed at increasing the share of natural gas in India's energy basket.

RBI Imposes Rs. 76.6 Lakh Penalty on Four NBFCs for Regulatory Violations

The Reserve Bank of India (RBI) has imposed monetary penalties totaling Rs. 76.6 lakh on four Non-Banking Financial Companies (NBFCs) — Fairassets Technologies India (Rs. 40 lakh), Bridge Fintech Solutions (Rs. 10 lakh), Rang De P2P Financial Services (Rs. 10 lakh), Visionary Financepeer (Rs 16.6 lakh) — for non-compliance with regulatory norms.
These penalties were issued under Section 58G of the Reserve Bank of India Act, 1934, and Section 30 of the Payment and Settlement Systems Act, 2007. The violations included lapses in governance, reporting requirements, fair lending practices, capital adequacy, and fraud risk management. The RBI's action reinforces its commitment to financial discipline, consumer protection, and strengthening compliance in the NBFC sector.

Takashi Nakajima Appointed as the New President & CEO of Honda Cars India

Japanese automobile giant Honda Motor Company has announced a leadership change for its Indian subsidiary, Honda Cars India Ltd. (HCIL). Takashi Nakajima has been appointed as the new President and CEO of HCIL, effective April 1, 2025. Nakajima will succeed Takuya Tsumura, who will return to Honda's headquarters in Japan after completing his three-year tenure in India.
This appointment is part of the annual management restructuring process at Honda Motor Company, aimed at strengthening its global leadership and operational strategies.
Takashi Nakajima is a Honda veteran with 30 years of experience in the automobile industry. He joined Honda in 1994 and has held key leadership roles in various international markets. He worked as President of Honda Motor Russia since 2021. In Japan, He worked in Honda's headquarters, handling business planning and product strategy. In China, he contributed to Honda's expansion in one of the world's largest automobile markets. In Spain & Czech Republic, he played a crucial role in marketing and sales promotions.

Mar 10, 2025

Patanjali Inaugurates Asia's Largest Orange Processing Unit in Nagpur

Union Minister for Road Transport, Highways, and Shipping Nitin Gadkari along with Chief Minister of Maharashtra, Devendra Fadnavis inaugurated Asia's largest orange processing plant, 'Patanjali Mega Food & Herbal Park' established by Patanjali at MIHAN, Nagpur.
Patanjali Food and Herbal Park in Nagpur's MIHAN industrial area, has the capacity to make 800 tonnes of pure orange juice daily.

HDFC Bank Signs MoU with Indian Air Force and CSC Academy; Launches Project HAKK

HDFC Bank, under its Parivartan initiative, signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) and CSC Academy to launch Project HAKK (Hawai Anubhavi Kalyan Kendra). This initiative is designed to support defence pensioners, veterans, and their families by providing financial services, skill development, and economic inclusiveness. The MoU was signed in the presence of senior officials from HDFC Bank, the Indian Air Force, and CSC e-Governance Limited.

SIDBI and Federal Bank Partner to Strengthen MSME Financing

The Small Industries Development Bank of India (SIDBI) and Federal Bank signed a Memorandum of Understanding (MoU) to enhance financial support for micro, small, and medium enterprises (MSMEs). This collaboration aims to boost the MSME ecosystem by offering various financial services, including project finance, machinery and equipment loans, working capital support, and loans against property. The partnership will also explore joint financing options to extend credit facilities to MSMEs, ensuring easier access to funds for their growth and development. The announcement aligns with Prime Minister Narendra Modi's commitment to strengthening the MSME sector, recognizing it as the backbone of India's manufacturing and industrial growth.

The 11th Global Kokan Festival 2025 Receives Overwhelming Response

The 11th edition of the 'Global Kokan Festival 2025', held at Nesco Ground, Goregaon (Mumbai) from March 6 to 9, 2025, witnessed an enthusiastic response from investors, policymakers, entrepreneurs, and cultural enthusiasts. Over the past few days, the festival emerged as a key platform to promote Konkan as a thriving hub for business, tourism, agriculture, fisheries, and cultural heritage, unlocking new opportunities for economic growth and employment in the region.

Mar 09, 2025

RBI Appoints Dr. Ajit Ratnakar Joshi as Executive Director

The Reserve Bank of India (RBI) appointed Ajit Ratnakar Joshi as its new Executive Director (ED). Joshi will be responsible for overseeing the Department of Statistics and Information Management and the Financial Stability Department. With over 30 years of experience in statistics, information technology, and cyber risk management, Joshi brings a wealth of expertise to his new role.

Tech Mahindra Bolsters US Presence with New Headquarters in Texas' Plano

Tech Mahindra announced the opening of its Americas headquarters in Plano, Texas, a move it said underscores the company's firm commitment to the US market.
The Plano office is Tech Mahindra's nineteenth office in the US.
The new facility will house a diverse range of operational functions, including consulting, delivery, and customer support services.
As part of the company's ongoing expansion plans, Tech Mahindra will also establish an Innovation Lab within the same premises.

Mar 08, 2025

MoC Inked for India's 1st API, Green Hydrogen, Ethanol Facility in Himachal

The Himachal Pradesh government signed a Memorandum of Commitment (MoC) with Chandigarh-based Spray Engineering Devices Ltd to establish India's first integrated manufacturing facility for Active Pharmaceutical Ingredients (API), Green Hydrogen, and 2G Ethanol. The Rs. 1,400 crore-project will be set up in Baddi-Barotiwala-Nalagarh (BBN), Solan district, and is expected to create 1,000 jobs.
Chief Minister Sukhvinder Singh Sukhu, present at the signing, reaffirmed the state's goal to become a 'green energy' state by March 2026.

Mar 07, 2025

India's Circular Economy: A $2 Trillion Market and 10 Million Jobs by 2050

India's circular economy is projected to generate over $2 trillion in market value and create nearly 10 million jobs by 2050, according to Union Minister Bhupender Yadav. Speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, he emphasised that the circular economy represents a major shift from the traditional "take, make, waste" model to a more sustainable reuse and recycle-based system. India has also expressed interest in hosting the World Circular Economy Forum 2026. Several key initiatives, MoUs, and reports were launched to promote sustainable waste management and urban circular economy practices.

Britannia Industries CEO Rajneet Singh Kohli Steps Down

Biscuits major Britannia Industries' Chief Executive Officer and Executive Director, Rajneet Singh Kohli, resigned to pursue an external opportunity.
He joined the maker of Good Day biscuits in September 2022 after Varun Berry was elevated to the position of vice chairman.

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