General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Dec 14, 2024

TCS Extends Partnership with Telenor Denmark for Five Years

Tata Consultancy Services (TCS) extended its partnership with mobile operator firm Telenor Denmark, signing a five-year deal to manage the telecom operator's IT infrastructure. Over the last six years, TCS has implemented its Machine First Delivery Model to enhance Telenor Denmark's IT infrastructure, which caters to more than 1.6 million users.
With the extension of this partnership, TCS will work from its delivery centre in Europe to ensure operational cost reductions and improved IT infrastructure for Telenor.

TransUnion CIBIL CEO Rajesh Kumar Quits; Chief Revenue Officer Bhavesh Jain elevated as successor

Credit information company TransUnion CIBIL Ltd said thatRajesh Kumar, its Chief Executive and Managing Director for the past five years, resigned.
The credit information company said that it elevated Chief Revenue Officer Bhavesh Jain to the position vacated by Kumar, who resigned citing personal reasons.
The timeline for Kumar's departure and Jain's transition into the new role was not specified.
The announcement of the top executive's departure came days after Congress MP Karti Chidambaram criticised TransUnion CIBIL in the Lok Sabha, and blamed the company for being non-transparent.

Dec 13, 2024

Coca-Cola Sells 40% Stake in India Bottling Business to Jubilant Bhartia Group

Coca-Cola, the global beverage leader, sold a 40% stake in its Indian bottling arm, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to Jubilant Bhartia Group. This move signifies a strategic shift in Coca-Cola's operations in India and reflects the growing influence of Jubilant Bhartia Group in the country's beverage sector.

India Skills Report 2025

The India Skills Report 2025 was released based on a comprehensive Global Employability Test (GET) conducted across the country.
The report surveyed over 6.5 lakh youth and captured insights from 1,000 corporations spanning 15 industries.
Kerala continues to shine as one of the most employable States in India, as indicated by the India Skills Report 2025.
The report, published by talent assessment agency Wheebox in association with various agencies including the All India Council for Technical Education, Confederation of Indian Industry and Association of Indian Universities, revealed that Kerala's workforce maintains a strong employability rate of 71%, placing it on the fifth position after Maharashtra, Delhi, Karnataka and Andhra Pradesh.
Kerala also joined the ranks of Tamil Nadu, Maharashtra and Uttar Pradesh as the top States favoured for employment across India. The State is especially preferred by female job aspirants, in a validation of its strong workplace inclusion initiatives and diverse professional environments.

Dec 12, 2024

Flipkart and DPIIT Collaborate to Boost India's Start-up Ecosystem

Flipkart signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to accelerate the growth of tech start-ups across India. The collaboration builds on Flipkart's existing initiatives, including the Flipkart Leap and Ventures program, supported by a $100 million fund aimed at empowering innovators and entrepreneurs. Since its inception, Flipkart has invested in over 20 start-ups, with a focus on nurturing early-stage ventures.
The partnership will enable start-ups to access government market research reports, datasets, and studies, alongside fast-tracked patent applications.

Amul Extends Jayen Mehta's MD Tenure by 5 Years

Amul extended Managing Director, Jayen Mehta's tenure until 2029-2030. Mehta. Mehta who has been with Gujarat Cooperative Milk Marketing Federation (GCMMF) since 1991, has played a key role in shaping the AMUL brand through various positions in the marketing department. His extended leadership marks a crucial phase for the dairy giant as it continues to thrive under his direction.

Dec 11, 2024

UAE-India Founders' Retreat

The inaugural UAE-India Founders' Retreat, held in December, brought together over 60 of India's most prominent start-up founders with UAE investors, business leaders, and policymakers. The event marked a significant step toward deepening collaboration between the two nations, focusing on new avenues for investment, innovation, and cross-border partnerships.
One of the primary outcomes of the retreat was the establishment of new investment partnerships between Indian start-ups and UAE investors. These partnerships are expected to inject significant funding into India's start-up sector, particularly in emerging fields like fintech, AI, and digital transformation. The face-to-face discussions provided a platform for Indian entrepreneurs to connect directly with key UAE investors, paving the way for future financial collaborations.

StanChart Names ex-JPMorgan Chief P. D. Singh as India, South Asia CEO Nominee

Standard Chartered Bank (StanChart) nominated former JPMorgan India chief PD Singh as its next CEO for India and South Asia. The appointment is pending approval from the Reserve Bank of India (RBI), which has been approached by the Asia-focused lender for regulatory clearance.
If approved, Singh will succeed Zarin Daruwala, who is set to retire on April 1, 2025, after nearly a decade in the role. Singh brings extensive experience to the position, having held senior management roles at prominent banks, including HSBC, over the last two decades.

Dec 10, 2024

Sanjay Malhotra Appointed as New RBI Governor

Sanjay Malhotra, a seasoned bureaucrat and Revenue Secretary, has been appointed as the 26^th Governor of the Reserve Bank of India (RBI). A 1990-batch IAS officer from the Rajasthan cadre, he succeeds Shaktikanta Das, whose tenure ends on 10^th December 2024. Malhotra brings over three decades of diverse experience spanning finance, taxation, power, IT, and mining.
Malhotra holds a degree in Computer Science Engineering from IIT Kanpur and a Master's in Public Policy from Princeton University, USA.
As Revenue Secretary (since December 2022), he drove tax policy reforms for direct and indirect taxes, contributing significantly to India's fiscal health.
Previously, as Secretary in the Department of Financial Services, he oversaw India's financial and banking sectors.
During his tenure as CMD of REC Ltd, he led significant growth in the power sector.

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