General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Apr 03, 2024

ABFRL to Demerge Madura Fashion & Lifestyle into Separate Listed Entity

The Board of Directors of Aditya Birla Fashion and Retail Ltd (ABFRL) authorised the management of the company to evaluate the vertical demerger of Madura Fashion & Lifestyle business from ABFRL into a separate listed company.
The company said that the proposed demerger will enable the creation of two separately listed companies as independent growth engines with distinct capital structures and parallel value creation opportunities.
The Madura Fashion & Lifestyle business segment (MFL), consisting of four brands viz Louis Phillippe, Van Heusen, Allen Solly & Peter England along with casual wear brands viz. American Eagle & Forever 21, sportswear brand Reebok and the innerwear business under Van Heusen will be demerged into a separate listed entity.
Post demerger, the remaining ABFRL will be focused on segments where there are tailwinds from a shift from unbranded to branded, premiumization, rise of super premium & luxury, and rapid growth in Gen Z focused digital first brands.

Paradip Port Emerges as India's Top Cargo-Handling Port in 2023-24

Paradip Port Authority, Odisha, surpassed Deendayal Port Authority, Kandla, and became India's leading cargo-handling major port in the fiscal year 2023-24, handling 145.38 Million Metric Tons (MMT) of cargo, marking a 7.4% growth from the previous year.
Established by the Odisha government in 1962 and was taken over by the Indian government in 1965.
It was declared a major port by the Indian government on April 18, 1966, becoming the 8th major port of India.
It operates as an autonomous body under the Major Port Trusts Act 1963, under the Ministry of Ports, Shipping & Waterways, administered by a Board of Trustees appointed by the Government of India.

SEBI Launches SCORES 2.0 to Strengthen Investors' Complaint Redressal System

The Securities and Exchange Board of India (SEBI) launched the new version of its complaint redress system.
The new version of SCORES (SEBI Complaint Redress System) strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the designated bodies and reduction of timelines.
The revised version with additional features has been made more user friendly.
SCORES 2.0, introduces auto-routing of complaints to the concerned regulated entity to eliminate time lapses.
It has reduced and uniform timelines for redressal of investors' complaints across the securities market, 21 calendar days from date of receipt of complaint.

Apr 02, 2024

Mahindra Aerostructures Signs $100 Milllion Contract with Airbus Atlantic

Mahindra Aerostructures signed a multi-year contract worth around $100 million with Airbus Atlantic for the manufacturing and delivery of metallic components for the entire Airbus commercial aircraft family, including the A320 family planes.
Under the contract, the company will supply close to 2,300 varieties of metallic components to Airbus Atlantic in France from its manufacturing base in India.
The contract adds to existing MASPL programmes to deliver parts directly to Airbus at their facilities in France and Germany.

Joyshree Das Verma Becomes New President of FICCI Ladies Organisation

Joyshree Das Verma took over as the 41st National President of the FICCI Ladies Organisation (FLO) for the year 2024-25. FLO is the oldest women-led and women-centric business chamber of South-east Asia.
With a 25-year journey in the corporate and entrepreneurial sectors, Joyshree Das Verma has nurtured a diverse professional presence. She holds the position of Honorary Consul of Israel for Northeast India and is the Director of Kaapro Management Solutions Pvt Ltd, her pan-India entrepreneurial HR consulting company where she is a co-promoter.
As the Honorary Consul of Israel to Northeast India, Joyshree Das Verma has been instrumental in advancing and strengthening strategic relations between India and Israel in sectors such as agriculture, water, IT, technology, health, innovation, tourism, trade, and commerce across the 8 Northeastern states of India.

Veteran Dealmaker Atul Mehra Joins Axis Capital as MD & CEO

Axis Capital appointed Atul Mehra as the new Managing Director (MD) and Chief Executive Officer (CEO). Mehra will be overseeing both the investment banking and institutional equities businesses at Axis Capital.
Atul Mehra is an experienced dealmaker with over 30 years of experience in the industry. He was previously the Joint MD at JM Financial.

Apr 01, 2024

RBI to Set up Digital India Trust Agency to Check Illegal Lending Apps

As part of its efforts to curb growing cyber fraud, the Reserve Bank is considering establishing a Digital India Trust Agency (DIGITA) to stop the mushrooming of illegal lending apps.
The proposed agency will enable verification of digital lending apps and maintain a public register of verified apps.
Apps not carrying the 'verified' signature of DIGITA should be considered unauthorised for the purpose of law enforcement, sources said, adding that this will serve as a pivotal checkpoint in the fight against financial crimes in the digital realm.
DIGITA, once in place, would be entrusted with the responsibility of vetting digital lending apps.

NTPC Shuts Down Operations of 220 MW Barauni Stage-I Project Permanently

State-owned power giant NTPC closed down its Barauni Thermal Power Station, in Begusarai district, Bihar, Stage-I of 220 MW permanently.
NTPC is India's largest power utility with a total installed capacity of 75,418 MW (including JVs).
Operation of NTPC Barauni Thermal Power Station Stage-I (2x110 MW) comprising of two Units (Unit 6 & 7) of 110 MW each (along with all Auxiliary systems except CHP, Switchyard, Ash Dyke and Township) were permanently discontinued, w.e.f. 31^st March, 2024.
Established in 1975, NTPC aims to become a 130 GW firm by 2032.

Mar 31, 2024

Banks Authorised to Import Gold and Silver in FY 25

The government updated the list of banks authorised to import gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, were authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1.
The authorisation is valid up to March 31, 2025.

Arnab Banerjee Elected as New ATMA Chairman

Arnab Banerjee, the Managing Director & CEO of CEAT Ltd., was elected as the new Chairman of the Automotive Tyre Manufacturers' Association (ATMA). ATMA is the national industry body representing the automotive tyre sector in India.
Established in 1975, the Automotive Tyre Manufacturers' Association (ATMA) headquartered in New Delhi is one of the most active national industry bodies in India. It represents the Rs. 90,000 crore ($11 bn) automotive tyre industry.
ATMA has eight large tyre companies as its members, including a mix of Indian and international tyre majors. These members account for over 90 percent of the total tyre production in India.
The member companies of ATMA are: Apollo Tyres, Bridgestone India, CEAT, Continental India, Goodyear India, JK Tyre & Industries, MRF and TVS Tyres.
These companies are among the leading players in the Indian automotive tyre industry, representing both domestic and international brands.

Mar 30, 2024

Nidhu Saxena New MD & CEO of Bank of Maharashtra

The central government approved the appointment of Nidhu Saxena as the Managing Director & Chief Executive Officer (MD & CEO) of the Bank of Maharashtra. This appointment is effective for a period of three years.
Nidhu Saxena took over the top leadership role at the Bank of Maharashtra from A.S. Rajeev, who was selected as the Vigilance Commissioner in the Central Vigilance Commission.
Nidhu Saxena brings with him over 26 years of experience in the banking sector, having worked across diverse areas.
Saxena's banking career commenced at Bank of Baroda, after which he moved to UCO Bank.
Saxena has also served on the boards of Union Bank of India (UK) and Union Asset Management Company, as well as being a member of the Academic Council of the National Institute of Bank Management, Pune, and the Governing Body of the Indian Institute of Bank Management, Guwahati.

Axis Bank Launches Digital US Dollar Fixed Deposits for NRIs at GIFT City

Axis Bank announced the introduction of digital US dollar fixed deposits (FDs) for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat. The bank became the first to offer a digital journey for opening deposits at GIFT City.
NRI customers of Axis Bank can now open US dollar fixed deposits at GIFT City through the bank's mobile banking application, 'Open by Axis Bank'. This offering provides an end-to-end digital paperless solution, eliminating the need for physical documentation.
According to the bank, this offering simplifies the process of booking US dollar fixed deposits for NRI customers, providing them with a convenient and hassle-free experience.
By introducing digital US dollar fixed deposits at GIFT City, Axis Bank aims to cater to the growing demand for digital banking services among NRI customers, while also leveraging the opportunities presented by the IFSC Banking Unit at GIFT City.

Adani's Mega Copper Plant Begins Operations in Gujarat

The Adani Group announced the start of the first phase of the world's largest single-location copper manufacturing plant at Mundra in Gujarat. The facility, owned by Kutch Copper (a subsidiary of Adani Enterprises Ltd), will help reduce India's dependence on copper imports and support the energy transition.
The first phase will produce 0.5 million tonnes of refined copper annually.
The full-scale capacity of 1 million tonnes is expected by FY29 (March 2029).
India joins nations like China in rapidly expanding copper production, a crucial metal for the transition away from fossil fuels.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

July GK, June GK, May 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