General Awareness

BUSINESS AND ECONOMY - August 2018

Aug 2018

Jul 12, 2026

RBI approves Mahesh Muralidhar Pai as MD & CEO of South Indian Bank

The Reserve Bank of India approved the appointment of Mahesh Muralidhar Pai as the new Managing Director and Chief Executive Officer of South Indian Bank, based in Thrissur, in July 2026. He will assume the post for a three‑year term beginning on 1 October 2026, subject to regulatory clearances. The selection aims to provide seasoned leadership as the bank navigates digital transformation, risk management, and growth in retail lending. Pai has held senior roles in other financial institutions and will lead strategic initiatives including technology upgrades, data governance, and credit quality improvement. South Indian Bank continues to pursue expansion in urban and rural markets while improving efficiency and customer service.

RBI approved appointment of Mahesh Muralidhar Pai as MD & CEO
Term starts 1 October 2026 for three years
Position based in Thrissur, Kerala
Focus on digital transformation and risk management
Pai has prior leadership roles in other banks

Jul 09, 2026

India as a global GCC hub for retail and FMCG

As of 8 July 2026, India is identified as the world’s largest hub for retail and FMCG Global Capability Centers (GCCs). The country hosts 180 GCCs employing more than 2.72 lakh professionals. Bengaluru, Delhi-NCR and Hyderabad are among the major GCC hubs. These centers provide back-office services, analytics, customer support and product development for global brands. The growth reflects India’s expanding role in global business services, technology-enabled operations, and the demand for skilled professionals in a competitive, cost-effective environment. Policy support for digital infrastructure and a large talent pool underpin ongoing GCC expansion across major Indian cities.

Status: India largest GCC hub for retail and FMCG
Number of GCCs: 180
Employment: over 2.72 lakh professionals
Major hubs: Bengaluru, Delhi-NCR, Hyderabad
Functions: back-office, analytics, customer support, product development
Implication: strengthens India’s BPO and tech services ecosystem

Jul 07, 2026

First Areko cherries and Scentrose plums from J&K exported to UAE

Jammu and Kashmir achieved its first-ever export shipment of premium Areko cherries and Scentrose plums to the United Arab Emirates. The initiative was facilitated by the Agricultural and Processed Food Products Export Development Authority (APEDA) and marks a milestone for the territory’s horticulture sector. Officials say the shipment demonstrates growing international market access for local farmers and reinforces diversification of agricultural exports. Trade analysts expect this initial export to foster longer-term opportunities in the UAE and beyond, contingent on maintaining fruit quality, packaging standards, and reliable logistics channels.

First-ever export of Areko cherries and Scentrose plums from J&K
Facilitated by APEDA
Aims to broaden international market access
Potential for larger shipments with quality and logistics
Boosts diversification of J&K horticulture exports

Jul 06, 2026

India and Mali launch India‑Mali Export Promotion Forum in Bamako

India and Mali inaugurated the first India‑Mali Forum for the Promotion of Exports in Bamako, aiming to strengthen bilateral trade and attract investment. The forum targets priority sectors including cotton, textiles, mining, energy, agro‑industry, pharmaceuticals, and infrastructure. Officials described the platform as a strategic step to diversify trade and deepen economic cooperation. The collaboration aligns with broader African engagement and seeks to enhance market access, logistics, and investment flows between the two nations, leveraging complementarities in natural resources, manufacturing, and regional value chains.

Event: India‑Mali Export Promotion Forum launched in Bamako
Focus sectors: cotton, textiles, mining, energy, agro‑industry, pharmaceuticals, infrastructure
Objective: strengthen bilateral trade and investment
Context: part of India’s Africa engagement
Impact: aims to diversify trade and unlock export potential

Jul 05, 2026

Assam becomes first Indian state to commercially produce Matcha tea

Assam became the first Indian state to commercially produce Matcha tea on 3 July 2026. The first batch, 5 kilograms, was produced at the Chota Tingrai Tea Estate in Tinsukia district and sold at the Guwahati Tea Auction Centre to a Guwahati buyer for Rs 3,000 per kilogram. Matcha is a powdered green tea from shade grown leaves, a product of Japan now produced in Assam through a decade long collaboration with Japanese partners. This marks a new product line for Assam’s tea economy, which has long focused on black and orthodox teas.

Date: 3 July 2026
Location: Chota Tingrai Tea Estate, Tinsukia
Product: Matcha tea, first commercially produced in India
Market: Guwahati Tea Auction Centre
Price: Rs 3,000 per kilogram

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