General Awareness

BUSINESS AND ECONOMY - November 2018

Nov 2018

Apr 14, 2025

India Launches Global Tariff and Trade Helpdesk

The union government launched a dedicated 'Global Tariff and Trade Helpdesk' to assist traders navigate emerging trade issues amid global uncertainty over US President Donald Trump's tariff measures.
According to a notice issued by the government, the Directorate General of Foreign Trade (DGFT) operationalised the helpdesk to look into issues relating to 'import and export challenges, import surges or dumping, EXIM clearance, logistics or supply chain challenges, financial or banking issues, regulatory or compliance issues, and other Issues or suggestions.'

Lamborghini Appoints Nidhi Kaistha as Head of Operations in India

Italian super luxury automaker Automobili Lamborghini appointed Nidhi Kaistha as Head of Lamborghini India.
In her new role, Kaistha will oversee sales, marketing and after-sales operations in India, the sixth-largest market in the Asia Pacific region.
With over 25 years of experience across hospitality, aviation, and automotive industries, she brings extensive expertise and leadership to her new position.
Lamborghini currently operates through three dealerships in Mumbai, Delhi, and Bengaluru, catering to a growing community of enthusiasts and customers.

Apr 13, 2025

Infosys Expands Partnership with AIB to Drive Digital Transformation

Indian IT major Infosys announced the expansion of its partnership with AIB, a financial services group in Ireland and the United Kingdom, to deliver application development, testing, and support services.
Infosys will assist AIB in improving its software systems and managing application development and maintenance.
"Building further on its 10-year relationship, Infosys will take on a renewed and expanded role to support AIB as it further accelerates its transformation initiatives and delivers support and value to its customers and stakeholders.

Apr 12, 2025

T. Koshy Steps Down as CEO of ONDC

The government-backed Open Network for Digital Commerce (ONDC) announced that its MD and CEO, T Koshy, has stepped down following the completion of his three-year tenure at the company.
ONDC is an initiative of the commerce and industry ministry to help small retailers expand their business and reduce the dominance of e-commerce giants.
It aims to build an open, interoperable network on which buyers and sellers can transact without needing to be present on the same platform.

NaBFID Inks MoU with New Development Bank to Boost Financing Infra Projects

The National Bank for Financing Infrastructure and Development (NaBFID) signed a Memorandum of Understanding (MoU) with the New Development Bank (NDB) creating a deep and sustainable infrastructure financing market and developing a supportive ecosystem around it.
NDB, headquartered in Shanghai, China, is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs).
This collaboration will help bridge the infrastructure financing gap and explore long-term collaboration opportunities, including the exchange of technical expertise.

Apr 11, 2025

Neelam Dhungana Appointed Acting Governor of Nepal Rastra Bank

Neelam Dhungana Timsina, the Senior Deputy Governor of Nepal Rastra Bank (NRB), was appointed as the Acting Governor following the completion of the five-year term of the previous Governor, Maha Prasad Adhikari. The Ministry of Finance, led by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, assigned Dr. Dhungana to take on this role. This transition came amid the ongoing process of selecting a new governor for the NRB. The process involves a Governor Appointment and Recommendation Committee, which is tasked with proposing candidates to the Council of Ministers.

Juspay Becomes India's First Unicorn of 2025: $1 Billion Valuation Achieved

Bengaluru-based payments infrastructure firm Juspay became India's first unicorn of 2025 after securing $60 million in a Series D funding round. Led by Kedaara Capital, with participation from existing backers SoftBank and Accel, the funding round pushed Juspay's valuation past the $1 billion mark.

PNB MetLife and Policybazaar Collaborate to Launch Pension Premier Multicap Fund

PNB MetLife India Insurance Company Ltd launched a pension premier multicap fund as part of its unit-linked insurance plans (ULIPs) for which it has tied up with Policybazaar.
The new offering is aimed at helping customers to build a financially secure retirement corpus while ensuring life insurance coverage.
The fund is structured around PNB MetLife's existing multi-cap strategy, targeting long-term wealth creation. It aims to outperform the S&P BSE 500 Index by investing in a diversified mix of equities across market caps.

Apr 10, 2025

IOCL's to Invest Rs. 61,000 crore in Odisha for World-Class Petrochemical Complex

Indian Oil Corporation Ltd (IOCL) announced an investment of Rs. 61,077 crore to establish a world-class petrochemical complex in Paradip, Odisha. This move marks the largest-ever investment by IOCL at a single location and aims to bolster India's petrochemical industry and manufacturing capabilities. The project will not only enhance the region's infrastructure but will also create a range of high-demand petrochemical products used in various industries such as pharmaceuticals, agrochemicals, coatings, and adhesives. The agreement was formalised in the presence of key government officials, including Odisha Chief Minister Mohan Charan Majhi, Union Petroleum and Natural Gas Minister Hardeep Singh Puri, Union Education Minister Dharmendra Pradhan, and Union Tribal Affairs Minister Jual Oram.

Satish Chavva Appointed as CEO of OIJIF

The Oman India Joint Investment Fund (OIJIF) appointed Satish Chavva as the Chief Executive Officer (CEO). This appointment came as part of the fund's efforts to strengthen its leadership and strategic growth initiatives. With over two decades of experience in private equity and finance, Chavva is expected to steer the fund towards enhanced portfolio performance and long-term value creation. OIJIF is a private equity fund jointly promoted by the Oman Investment Authority (OIA) and the State Bank of India (SBI), focusing on investments that drive sustainable growth in India.

RBI Permits NPCI to Enhance UPI Transaction Limits for P2M Payments

The Reserve Bank of India (RBI) announced a major step in India's digital payments landscape by authorising the National Payments Corporation of India (NPCI) to revise transaction limits for UPI-based Person-to-Merchant (P2M) payments. This move came in response to evolving user demands and use cases in the UPI ecosystem. However, Person-to-Person (P2P) transaction limits remain unchanged at Rs. 1 lakh.

Department of Financial Services Notifies Amalgamation of 26 RRBs in Fourth Phase of Amalgamation

The Department of Financial Services (DFS) has notified the amalgamation of 26 Regional Rural Banks (RRBs) under the "One State, One RRB" principle. This is the fourth phase of the RRB consolidation process. The Ministry of Finance rolled out the amalgamation plan in November last year (2024), building on improvements in efficiency from previous phases.
Following consultations with stakeholders, 26 RRBs across 10 states and one Union Territory have been merged, focusing on enhancing scale, efficiency, and cost rationalisation. Currently, 43 RRBs operate across 26 states and two Union Territories. Post-amalgamation, there will be 28 RRBs covering 700 districts with more than 22,000 branches. Around 92 per cent of these branches are located in rural and semi-urban areas.

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