General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Oct 30, 2024

Ujjivan Small Finance Bank Receives RBI Approval for Foreign Exchange Services

Ujjivan Small Finance Bank secured approval from the Reserve Bank of India (RBI) for foreign exchange services, marking a significant milestone in its operational capabilities. The bank was granted the 'Authorised Dealer Category 1 licence,' allowing it to offer a comprehensive range of foreign exchange products and services. This development aligns with the bank's strategy to enhance its service offerings and cater to the growing demand for forex solutions among its customers.

Oct 29, 2024

Global Finance Magazine Names SBI Best Bank in India for 2024

State Bank of India (SBI) was awarded the title of Best Bank in India for 2024 by Global Finance Magazine during its 31st Annual Best Bank Awards, held in Washington, coinciding with the Annual Meetings of the IMF and the World Bank. SBI Chairman C. S. Setty accepted the award, highlighting the bank's dedication to exceptional services and its role in promoting financial inclusion across the nation. This recognition underscores SBI's long-standing commitment to winning customer trust and its pivotal role in the evolving Indian banking landscape.
The Global Finance Best Bank Awards are renowned for their credibility, serving as a benchmark for assessing financial institutions worldwide. The awards provide valuable insights for corporate decision-makers, especially amid global economic challenges.

Oct 28, 2024

Nvidia Overtakes Apple as World's Most Valuable Company

Nvidia dethroned Apple as the world's most valuable company, following a record-setting rally in the stock powered by an insatiable demand for its new supercomputing AI chips.
In June 2024, Nvidia had briefly held the title before being surpassed by Microsoft and Apple. The valuations of these tech giants have been closely intertwined, with Microsoft's market value at $3.20 trillion.

Amitabh Chaudhry Re-Appointed as MD and CEO of Axis Bank by RBI

The Reserve Bank of India (RBI) approved the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of the Axis Bank for three more years, effective January 1. This came after the shareholders of the lender approved Chaudhry's re-appointment.
Chaudhary joined Axis Bank on January 2019, before which he was with HDFC Standard Life Insurance Company for over nine years.
Chaudhry is an engineer from Birla Institute of Technology and Science, Pilani and is a post graduate in Business Management from IIM, Ahmedabad. He started his career in 1987 with Bank of America, where he served in various roles such as Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets, Chief Finance Officer of Bank of America (India) and Relationship Manager in Wholesale Banking for Mumbai and Delhi.

Oct 27, 2024

Reliance, Nvidia partner to build large-scale AI infrastructure in India

Reliance Industries and Nvidia announced a partnership to build large-scale AI infrastructure in India in a move that could accelerate India's artificial intelligence capabilities. The announcement came during a fireside chat between Reliance Chairman Mukesh Ambani and Nvidia CEO Jensen Huang at the Nvidia AI Summit 2024 in Mumbai.
The partnership will see Reliance deploying Nvidia's latest GB 200 supercomputer technology to build a massive AI infrastructure.

Liberty General Insurance and Maruti Suzuki Join Hands

Liberty General Insurance, one of India's prominent non-life insurers, joined hands with Maruti Suzuki Insurance Broking to enhance insurance awareness across rural and urban regions. The collaboration is part of the 'Bima Prachaar Aur Prasaar' initiative, focusing on raising insurance awareness in Punjab's Gram Panchayats and increasing penetration in Delhi.
This effort aligns with the Insurance Regulatory and Development Authority of India's (IRDAI) goal of achieving 'Insurance for All by 2047.' Liberty General Insurance, as the lead non-life insurer in Delhi, has been at the forefront of similar awareness campaigns in the capital, while also extending its rural outreach in Punjab.

Oct 26, 2024

JP Morgan Chase India Appoints Pranav Chawda as New CEO

Pranav Chawda was appointed as the new Chief Executive Officer (CEO) of JP Morgan Chase India for a term of three years. Previously heading the commercial banking unit of the US-based JP Morgan, Chawda's appointment came after receiving the necessary approval from the Reserve Bank of India (RBI). His leadership is expected to drive the bank's growth and strategic initiatives in the Indian market.
Chawda has over 20 years of experience in the banking sector, including various roles in credit, product, business development, and sales.

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