General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Feb 16, 2025

JioCinema and Disney+ Hotstar Merge and Launch JioHotstar

JioCinema and Disney+ Hotstar officially merged and created a new streaming platform, JioHotstar. The new service was launched by JioStar, a joint venture between Reliance Industries and The Walt Disney Company.
The merger brings together two of India's most popular streaming platforms, combining their content libraries, sports coverage, and technology to offer a wider range of entertainment.
JioHotstar introduced a new subscription model. Existing Disney+ Hotstar subscribers will continue with their current plans without any changes. The pricing for these plans is Rs. 149 for mobile, Rs. 299 for the Super plan, and Rs. 349 for the Premium (Ad-Free) plan for three months.
The new platform will offer a wide range of content, including Hollywood films and series from NBCUniversal Peacock, Warner Bros, Discovery, HBO, and Paramount.
This makes JioHotstar the only platform in India to feature content from multiple global studios in one place.

Asia's 20 Richest Families: Mukesh Ambani Leads

Indians are increasingly making their mark on the global stage, not just for their expertise but also for their remarkable business strategies. A testament to this rising prominence is the inclusion of an Indian family at the top of Bloomberg's list of Asia's richest families, with several others securing spots in the top 20.
Topping the list is Mukesh Ambani's family with $90.5 billion in wealth. Mukesh Ambani oversees Reliance Industries, one of India's largest conglomerates.
Ranked second, Thailand's Chearavanont family has amassed $42.6 billion through its Charoen Pokphand conglomerate, which spans food, retail, and telecom businesses across Asia.
With a net worth of $42.2 billion, the Hartono family of Indonesia, third in the rankings, made its fortune in banking, primarily through Bank Central Asia, and from its origins in the tobacco industry.

Feb 15, 2025

TCS Joins UPM for IT Overhaul in Nordic Region

Tata Consultancy Services (TCS) secured a significant IT transformation deal with UPM, a Finland-based company specialising in sustainable materials. This strategic partnership aims to modernise UPM's IT infrastructure, focusing on cloud migration, digital transformation, and improving operational efficiency. TCS will manage key IT functions, including data centre operations, network services, and end-user support, ensuring a seamless and advanced technology-driven ecosystem for UPM's 19,000 employees.
TCS will play a critical role in reshaping UPM's IT landscape by migrating its core services to cloud platforms. The deal includes:
Cloud adoption: Transitioning IT services to cloud-based systems for better scalability.
Workplace transformation: Implementing AI-driven tools and chatbots to enhance employee experience.
Operational management: Overseeing UPM's data centers and network infrastructure for improved efficiency.

RBI Injects Rs. 2.5 Lakh Crore to Strengthen Banking Liquidity

The Reserve Bank of India (RBI) announced a significant liquidity infusion of Rs. 2.5 lakh crore into the banking system through a Variable Rate Repo (VRR) auction. This move is aimed at addressing the current liquidity shortfall in the financial system, which has been impacted by various economic factors.
The liquidity support will help stabilise the banking sector, ensuring the smooth flow of credit and preventing any major disruptions in financial markets.

Tata Elxsi & Garuda Aerospace to Boost India's UAV Sector

In a step towards boosting India's self-reliance in unmanned aerial vehicle (UAV) technology, Tata Elxsi and Garuda Aerospace partnered to establish a Centre of Excellence for drone design, engineering, and certification. The Memorandum of Understanding (MoU) was signed at Aero India 2025, marking a crucial development in India's UAV sector. The collaboration aligns with the government's 'Make in India' initiative and aims to develop indigenous drone solutions for defence, agriculture, and smart city applications.

Feb 14, 2025

Adani Green Withdraws from Controversial Renewable Energy Project in Sri Lanka

The Adani Group withdrew from a 484 megawatt (MW) wind project in northern Sri Lanka after the government in Colombo allegedly moved to renegotiate the terms of the project.
Adani Green Energy Ltd told Sri Lanka's Board of Investment that it would "respectfully withdraw" from the wind project following discussions with officials who indicated that fresh committees would be formed to "renegotiate the project proposal".
The wind project has been under intense scrutiny since the election of Sri Lanka's President Anura Kumara Dissanayake in September last year (2024), after he promised to cancel the corrupt project in the run-up to the elections.

Suzlon Bags Order from Oyster Renewable to Supply Wind Turbine Generators

Suzlon Group secured a repeat order from Oyster Renewable to supply 64 wind turbine generators each having a rated capacity of 3.15 megawatts (MW).
It will supply 64 wind turbine generators (WTGs) of S144 series with Hybrid Lattice Towers (HLT) to Oyster Renewable in Madhya Pradesh.

SEBI Unveils MITRA to Track Inactive Mutual Fund Folios

The Securities and Exchange Board of India (SEBI) introduced the Mutual Fund Investment Tracing and Retrieval Assistant (MITRA), a platform designed to help investors track, trace, and reclaim inactive or unclaimed mutual fund folios. This move is aimed at addressing a growing issue in the mutual fund industry—investors losing access to their investments due to outdated contact details, unawareness, or lack of KYC compliance.
SEBI's MITRA provides investors with an industry-wide searchable database to track such unclaimed investments.
Additionally, MITRA promotes KYC compliance, helping investors update their details and reducing the number of non-KYC compliant folios, which are often at risk of fraudulent claims.

Feb 13, 2025

Mastercard Launches Anti-Money Laundering Service 'TRACE' to Combat Financial Crime in Asia Pacific

Mastercard officially launched of TRACE (Trace Financial Crime) in Asia Pacific, a sophisticated network-level solution that harnesses artificial intelligence to identify and prevent money laundering and financial crime.
Powered by timely and large-scale payments data from multiple financial institutions, TRACE provides holistic intelligence beyond an individual financial institution's soloed view, enabling tracing of financial crime across a payments network. The groundbreaking crime-fighting solution has been implemented in the Philippines' Real-Time Payment network, making it the second market in the world to offer the service after the United Kingdom.

IOC, BPCL to Sign Multibillion-dollar LNG Purchase Deals with Adnoc

Two of India's biggest state-run oil companies will sign agreements to buy liquefied natural gas from Abu Dhabi National Oil Co, as the world's most populous nation looks to secure long-term supplies to meet growing energy demand.
Indian Oil Corp, the nation's biggest refiner, will buy up to 1.2 million tons a year of LNG from Adnoc, valued at over $7 billion for the 14-year period of the deal starting 2026. Bharat Petroleum Corp. is looking to receive 2.5 million tons of the fuel from the UAE company over five years starting April, with an option to extend it by another five years.
Adnoc, which is competing with Qatar to secure buyers for LNG, has been offering lower prices and more flexible terms than its Gulf neighbour.

THDC India Enters Thermal Energy Sector

THDC India started commercial operations of a 660-MW unit at its Khurja Power Plant in Bulandshahr, Uttar Pradesh, marking an entry into the domestic thermal energy sector.
The project, with a total capacity of 1,320 MW (2×660 MW), is being developed at an investment of Rs. 13,000 crore. The second unit is expected to begin operations soon. Equipped with modern technologies like Flue Gas Desulfurisation (FGD), the plant aims to enhance India's power generation while ensuring environmental sustainability.

Easebuzz Gets RBI Authorisation to Operate as Online Payment Aggregator

Payment solutions provider Easebuzz received final authorisation from the Reserve Bank to operate as an online payment aggregator (PA). The nod allows the company to continue operating as an authorised payments platform and help process online payments for Indian businesses across sectors, including e-commerce, travel and tourism, education and real estate.
With this license, Easebuzz joined a select group of approved payment aggregators in India, who are authorised to facilitate digital transactions for merchants under the regulatory framework set by the Reserve Bank of India.

Feb 12, 2025

DPIIT & KOTI Ink MoU for Logistics & Infrastructure Growth

India and South Korea took a significant step towards strengthening their logistics and infrastructure collaboration. The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, and the Korea Transport Institute (KOTI), Republic of Korea, signed a Memorandum of Understanding (MoU) at the Sejong National Research Complex in South Korea.
The agreement was formalised by Mr. Youngchan Kim, President of KOTI, and H. E. Amit Kumar, Ambassador of India to South Korea. This partnership aims to improve logistics efficiency, enhance infrastructure planning, and promote sustainable economic development through knowledge exchange and technical collaboration.

Reliance Unveils 'Spinner' Sports Drink with Muralitharan

Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries, entered the sports hydration drink segment with its new brand, Spinner. Co-created with Sri Lankan cricket legend Muttiah Muralitharan, Spinner aims to provide an affordable and effective hydration solution. Priced at Rs. 10 for a 150 ml bottle, it is significantly cheaper than competitors like Gatorade and Powerade.

India Establishes European Free Trade Association Desk

India and the European Free Trade Association (EFTA) – comprising Switzerland, Norway, Iceland, and Liechtenstein –took a significant step towards deeper economic collaboration with the inauguration of the India-EFTA Desk. This initiative follows the conclusion of India-EFTA Trade and Economic Partnership Agreement (TEPA), which positions EFTA as the first European bloc to formalise a trade pact with India. Union Minister for Commerce and Industry, Piyush Goyal hailed TEPA as a landmark agreement, emphasising India's growing role in global trade.
The India-EFTA Desk will provide structured support to EFTA businesses looking to invest, expand, or establish operations in India. High-ranking dignitaries from all four EFTA nations attended the launch, reaffirming their commitment to strengthening economic ties.

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