General Awareness

BUSINESS AND ECONOMY - October 2018

Oct 2018

Nov 01, 2018

Core Sector growth Slows Down

Growth of eight infrastructure sectors slowed down to 4.3% in September, the lowest in the last four months, as production of crude oil and natural gas declined. Previously, the lowest growth rate was in May 2018, when the core sectors expanded at 4.1%.

Big Leap in Ease of Doing Business

According to the World Bank, India jumped to the 77th spot in the ranking of countries by 'ease of doing business', jumping 23 places over its 2017 standing on the back of reforms that made it easier to get construction permits, pay taxes and access electricity.

As per the World Bank Group's Doing Business 2019 report, India carried out six business reforms during the past year that earned it the credential of being a top global improver for the second year in a row. The country recorded a rise of 30 places in the rankings last year, clinching the 100th spot.

Oct 31, 2018

Daily ATM Withdrawal Limit Halved

SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs. 20,000 from Wednesday.

The withdrawal limit has been curtailed on Classic and Maestro debit cards.

Thomas Cook India Starts US Operations

Travel services firm Thomas Cook India has commenced operations in the U.S. to leverage the high potential business travel segment to and from the U.S. The company has accordingly obtained ARC (Airlines Reporting Corporation) accreditation and necessary operating licences via its destination management brand Allied TPro.

ITC Enters Pouched Milk, Curd Segment

ITC Ltd. has entered into the pouched milk and curd segment, followed by paneer and milk shakes in two months.

Milk and dahi (curd) have been launched under the 'Aashirvaad' brand, milk shakes would be unveiled under a different brand.

Karnataka Inks MoU with 30 Firms

The Karnataka government signed a memorandum of understanding (MoU) with 30 retail companies, as part of its Samruddhi scheme, to provide self-employment opportunities for around 25,000 beneficiaries from the scheduled caste and scheduled tribe communities.

The Samruddhi scheme comes on the back two similar programmes, Unnati and Airavatha, the state government had launched in the past few months. The Unnati scheme is aimed to promote socially conscious start-ups to find solutions to problems faced by marginalised groups and the Airavatha scheme, to help youth set up taxi services.

Oct 30, 2018

NABI Signs Pact for Coloured Wheat

Mohali-based National Agri-Food Biotechnology Institute (NABI) has signed MoUs with four companies for seed and wheat-based product generation for 'coloured wheat' developed by the institute which is rich in nutraceuticals.

Vidisha-based Premier (India) Seed Company, Hisar-based HABITAT Genome Improvement Primary Producer's Company and Bishwanath Agrawal (BNA), Purnea (Bihar) will produce and maintain coloured wheat seeds and will prepare coloured wheat products.

Vedanta Gets Extension

Vedanta Ltd. has won a 10-year extension of its contract for the prolific Rajasthan oil block, but on the condition that it pays a higher share of profit to the government.

The 25-year contract for exploration and production of oil and gas from Barmer block RJ-ON-90/1 of Vedanta, formerly Cairn India, is due for renewal in May 2020.

India and Japan Sign Currency Swap Agreement

India and Japan concluded a $75 billion bilateral currency swap agreement.

As per the Indian government, this measure will improve confidence and stability in the foreign exchange and capital markets.

Oct 29, 2018

Cafe Coffee Day Stores

Leading cafe chain, Cafe Coffee Day, aims to have a network of around 2,500 stores in the next 7-8 years as part of its expansion plans.

Cafe Coffee Day would add around 100 stores every year focusing on the metro markets. Besides it also looks to tap the opportunities coming out from the tier II and tier III places.

The company, which opened its first store in 1996 in Bengaluru, is presently operating 1,740 stores in around 250 cities.

Oct 28, 2018

ICICI Bank Q2 Net Profit Slides

ICICI Bank reported a 42 per cent drop in its consolidated net profit in the quarter ended September 2018.

However, total income of the bank on a consolidated basis rose to marginally.

The bank had reported a net loss of Rs. 119.55 crore in the first quarter of the ongoing fiscal.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

October GK, September GK, August 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