General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Dec 21, 2024

Federal Bank Partners with Ecofy to Accelerate Rooftop Solar Financing for MSMEs

Federal Bank, a leading private sector bank in India, announced a strategic partnership with Ecofy, the country's first green-only NBFC backed by Eversource Capital, to empower MSMEs with innovative financing solutions for commercial rooftop solar installations. This collaboration is among the first comprehensive co-lending initiatives aimed at addressing the solar financing needs of the MSME sector.
The program aims to finance 3,600 kW of rooftop solar installations annually, enabling MSMEs to significantly reduce electricity costs while cutting over 2,500 tons of CO2 emissions each year. This initiative supports India's decarbonisation goals and fosters sustainable business practices.

Bank of Baroda Unveils Phygital Branches to Transform Customer Banking Experience

Bank of Baroda (Bank), one of India's leading public sector banks, is launching Phygital branches to redefine the customer experience. These Phygital branches seamlessly integrate physical and digital banking services for customers with self-service kiosks that provide 24/7 Banking, a Video Contact Centre for non-financial services and Universal Service Desks for in-person customer service.
By seamlessly integrating self-service and assisted service models, Bank of Baroda's Phygital branch is a unique banking concept that meets the diverse requirements of customers. The Phygital branches merge the familiarity of brick and mortar establishments with the efficiency of cutting-edge technology.

Dec 20, 2024

Indian REITs Association Appoints Alok Aggarwal as Chairman

The Indian REITs Association (IRA) appointed Alok Aggarwal, Managing Director and Chief Executive Officer of Brookfield India Real Estate Trust, as its new Chairman.
Established in 2023 under the guidance of the Securities and Exchange Board of India (SEBI) the Indian REITs Association is a non-profit trade organisation that supports the growth and development of India's Real Estate Investment Trust (REIT) sector.
Its founding members include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.

Delhi and Bengaluru Lead in India's Crypto Investments as Bitcoin Crosses $100,000 in 2024

Delhi NCR continued to assert its dominance in India's cryptocurrency adoption landscape, maintaining its lead in terms of the value invested. This was followed by the IT hub Bengaluru and Mumbai.
According to the CoinSwitch report, more than 36% of India's total crypto investments are concentrated in the three major metropolitan areas: Delhi (20.1%), Bengaluru (9.6%) and Mumbai (6.5%).
The year 2024 has been a huge year for the global crypto ecosystem, driven by big political and regulatory changes that have sped up mainstream growth.

HSBC Taj Credit Card: A Luxe Partnership for Discerning Travelers

HSBC India partnered with the Indian Hotels Company (IHCL) and launched the HSBC Taj Credit Card, a co-branded luxury card tailored for affluent Indians seeking high-end experiences. This collaboration, in association with Visa, aims to cater to the growing demand for exclusive services, wellness, and travel experiences among India's elite. With its premium offerings, the HSBC Taj Credit Card promises bespoke luxury benefits and is designed to meet the aspirations of the country's wealthy clientele.
This credit card's launch reflects the growth in India's luxury market, with increasing wealth and a shift toward high-end experiences.

Dec 19, 2024

RBI Lifts Restrictions on Edelweiss Group's ECL Finance and ARC

The Reserve Bank of India (RBI) lifted the supervisory restrictions on two entities of the Edelweiss Group—ECL Finance Ltd. and Edelweiss Asset Reconstruction Company Ltd. (Edelweiss ARC). These restrictions were imposed in May 2024 due to concerns over regulatory compliance. After significant engagement and corrective actions by the companies, the RBI is satisfied with their adherence to regulatory norms and has allowed their normal operations to resume.
ECL Finance Ltd: In May 2024, ECL Finance was prohibited from conducting structured transactions involving wholesale exposures, except for closures or repayments.
Edelweiss ARC: Edelweiss ARC faced a halt in acquiring financial assets and reorganising security receipts under the SARFAESI Act.

The 22nd Edition of CII Connect 2024

Confederation of Indian Industry (CII) Tamil Nadu hosted the 22^nd edition of CII Connect in Chennai. Based on the theme 'Artificial Intelligence in Action: Real-World Applications in Business,' the summit focused on the transformative potential of Artificial Intelligence (AI) in revolutionising operations, enhancing efficiencies and driving innovation across industries.
The event was chaired by Srivats Ram, Chairman, CII Tamil Nadu State Council & Managing Director Wheels India Ltd. and co-chaired by Rajesh Varrier, EVP, Global Head of Operations and Chairman & Managing Director, Cognizant India.
It was inaugurated by IT Minister Palanivel Thiaga Rajan.

Dec 18, 2024

Ambuja Cements to Merge Sanghi Industries, Penna Cement with Self

Ambuja Cements announced an amalgamation of its two subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL) with itself.
The Adani Group-promoted firm, which had announced acquisition of SIL and PCIL in 2023 and 2024 respectively, said that it has entered separate Schemes of Arrangement of the two subsidiaries.
The move aims at enhancing shareholder value, and streamline the organisation structure and simplify compliance requirements for effective governance.

DPIIT Signs MoU with HDFC Bank to Strengthen Start-up Ecosystem and Foster Innovation

Department for Promotion of Industry and Internal Trade (DPIIT) inked a partnership with HDFC Bank, India's largest private sector bank by assets, to empower start-ups with world-class banking and financial services.
The collaboration aims to strengthen the overall star-=up ecosystem by offering knowledge sharing, mentorship, and capacity-building programs to foster innovation and growth.
Start-ups will benefit from customized banking and financial products designed to cater their specific requirements, such as working capital, credit access, and cash flow management. Besides, the Start-ups will also have access to HDFC Bank's vast network and resources thus enabling them to scale up their operations, attract investments, and establish their market presence far more effectively.

Dec 17, 2024

RBI Raises Collateral-Free Agricultural Loan Limit to Rs. 2 Lakh

In a significant move to enhance financial access for farmers, the Reserve Bank of India (RBI) raised the limit for collateral-free agricultural loans from Rs. 1.6 lakh to Rs. 2 lakh. Effective January 1, 2025, the directive aims to address inflationary pressures and rising input costs while providing small and marginal farmers with sufficient credit support to meet their operational and developmental needs.
Banks were directed to implement the revised guidelines by January 1, 2025, and run awareness campaigns to ensure farmers are well-informed about the enhanced loan provisions.

Google Appoints Preeti Lobana as India Head

Tech giant Google announced the appointment of Preeti Lobana as its new Country Manager and Vice President for India. This strategic move comes as Google aims to bolster its presence and commitment to India's rapidly evolving digital economy. Lobana, a seasoned professional with over three decades of experience, took over the reins from Sanjay Gupta, who transitioned to a larger role as the President of the Asia Pacific region.
Before joining Google, Lobana served in prominent leadership roles at renowned organisations, including: NatWest Group, American Express, Standard Chartered Bank and ANZ Grindlays Bank.
Her academic credentials include being an alumnus of the prestigious Indian Institute of Management (IIM) – Ahmedabad, where she honed her expertise in strategy, change management, and leadership.

RBL Bank Reappoints R. Subramaniakumar as MD & CEO

RBL Bank's board of directors reappointed R. Subramaniakumar, the current Managing Director and Chief Executive Officer (MD and CEO) of the bank, for a period of three years, effective June 23, 2025.
The reappointment is, however, subject to approval from the Reserve Bank of India (RBI). The bank will make an application to the RBI seeking approval for reappointing Subramaniakumar as MD and CEO for a further period of three years under Section 35B of the Banking Regulation Act, 1935.
Subramaniakumar was initially appointed for a period of three years as MD and CEO of the bank in June 2022, making him the second public sector banker after Prashant Kumar to head a private sector bank.

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