General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Mar 25, 2024

Mariam Mammen Mathew New Chairperson of DNPA

Mariam Mammen Mathew, CEO of Manorama Online, was appointed as the Chairperson of the Digital News Publishers Association (DNPA) for a two-year term. She succeeded Tanmay Maheshwari, Managing Director of Amar Ujala.
Puneet Gupt, COO of Times Internet, was appointed as the new Vice-Chairman.
DNPA serves as a significant umbrella organisation for digital media businesses, including print and broadcasting.
Member Organisations: DNPA comprises 18 prominent media organisations, including Dainik Jagran, Dainik Bhaskar, The Indian Express, and others.
DNPA aims to democratise the digital news space, aligning with regulatory efforts to ensure fairness in the operations of Big Tech platforms in India.

Mar 24, 2024

PolicyBazaar Establishes Wholly Owned Subsidiary 'PB Pay Private Limited': Expansion into Payment...

PolicyBazaar, a prominent player in insurance and financial services, unveiled plans to diversify its offerings by establishing a wholly owned subsidiary named 'PB Pay Private Limited.' This subsidiary, approved by the board of directors, aims to specialise in payment aggregation services, both domestically and internationally, subject to regulatory clearances.
PB Pay Private Limited is slated to operate as a Non-Banking Financial Company (NBFC) with a focus on payment aggregation.
The authorised share capital for the subsidiary is set at Rs. 50,00,00,000, with a proposed paid-up capital of Rs. 27,00,00,000.

SBI Card and Titan Launch Titan SBI Card

SBI Cards and Payment Services Ltd, in partnership with Titan Company Ltd, launched Titan SBI Card, a shopping credit card.
With a focus on cashbacks, gift vouchers, and reward points, this card promises benefits worth over Rs. 2,00,000 annually.
Individuals can enrol for the card digitally through SBI Card SPRINT on SBI Card website or Titan stores. The joining and annual renewal fee for the card is Rs. 2,999. The contactless card is available on RuPay and VISA payment platforms.

BPCL Secures 5th Spot in Business World Real 500

Bharat Petroleum Corporation Limited (BPCL), a Maharatna and India's second-largest government-owned downstream oil producer, proudly announced its continued position as the 5th-ranked company in The Business World Real 500 List of 2024. This accomplishment underscores BPCL's unwavering commitment to excellence and highlights its consistent and robust financial performance in a dynamic operating environment.
BPCL has demonstrated agility and resilience in navigating through changing times while remaining firmly committed to the strategic path of energy transition.

Mar 23, 2024

Mustafa Suleyman, the New Face of Microsoft's AI Division

Microsoft named British AI pioneer Mustafa Suleyman as the head of its AI division. Suleyman, who co-founded Google's DeepMind, will now report directly to Microsoft CEO Satya Nadella.
In his new role, Suleyman will oversee various AI projects at Microsoft, including:
Integration of AI Copilot into Windows
Adding conversation elements to Microsoft's Bing search engine
Consolidating all consumer AI projects under one leader

Naveen Jindal Takes Charge as President of the Indian Steel Association

Naveen Jindal, chairman, Jindal Steel and Power, took charge as president of Indian Steel Association (ISA), the apex body for steel producers.
The association said that Naveen Jindal was unanimously elected as the president of ISA by the apex committee, the governing body of ISA. He succeeded Dilip Oommen, CEO of ArcelorMittal Nippon Steel India.

Mar 22, 2024

DBS Bank India Announces $250 Million Lending Support for Start-ups, 'New Economy' Companies

DBS Bank India announced a lending commitment of $250 million for new-age start-ups. The initiative is part of the bank's focus on fostering innovation and entrepreneurship within the country's thriving start-up ecosystem.
The Indian start-up sector, a foundational pillar of the country's development goals, has seen significant expansion over the years with over 90,000 start-ups and more than 100 unicorns as of 2024. Despite their growing resilience, access to capital for these companies in the current dynamic environment presents an ongoing challenge. Recognising the disruptive power of the start-up segment, particularly those harnessing emerging technologies, DBS Bank India has earmarked lending support of $250 million, focusing on enterprises that are set to redefine industry standards with innovative solutions.

M. V. Rao New Chairman of Indian Banks Association

The Indian Banks' Association (IBA) elected M. V. Rao, Managing Director and Chief Executive Officer of the Central Bank of India, as its new Chairman. The decision was taken during the IBA's managing committee meeting.
The committee also elected the following three individuals as Vice-Chairmen of the banking lobby group: Dinesh Kumar Khara, Chairman of State Bank of India (SBI), S. L. Jain, Managing Director and Chief Executive of Indian Bank and N. Kamakodi, Managing Director and Chief Executive of City Union Bank.
Madhav Nair, the Country Head and Chief Executive of the Bank of Bahrain and Kuwait, was unanimously elected as the Honorary Secretary of the IBA.
The IBA is a representative body of Indian banks, comprising public sector, private sector, foreign, cooperative, and regional rural banks. It plays a crucial role in shaping banking policies and promoting best practices in the Indian banking industry.

GRID-INDIA Achieves Miniratna Status

Grid Controller of India Limited (GRID-INDIA) achieved a significant milestone by being conferred with the status of Miniratna Category-I Central Public Sector Enterprise (CPSE). This recognition was bestowed upon by the Ministry of Power, Government of India, highlighting GRID-INDIA's pivotal role in the nation's power landscape.
Established in 2009, GRID-INDIA holds the crucial mandate of overseeing the seamless and uninterrupted operation of the Indian Power System. Its responsibilities include ensuring the efficient transfer of electric power within and across regions, facilitating trans-national power exchanges, with a focus on reliability, economy, and sustainability. It also facilitates competitive and efficient wholesale electricity markets and administers settlement systems.
GRID-INDIA comprises five Regional Load Despatch Centres (RLDCs) and the National Load Despatch Centre (NLDC). It shoulders the immense responsibility of managing the All India synchronous grid, one of the world's largest and most intricate power systems.

Mar 21, 2024

RBI Imposes Penalties on Tamilnad Mercantile Bank and DCB Bank

The Reserve Bank of India (RBI) levied penalties on Tamilnad Mercantile Bank and DCB Bank for non-compliance with certain regulatory directions pertaining to interest rates on advances.
Tamilnad Mercantile Bank was penalised with Rs. 1.31 crore for non-compliance with RBI directives on 'Interest Rate on Advances' and 'Central Repository of Information on Large Credits (CRILC) – Revision in Reporting'.
DCB Bank was penalised with Rs. 63.6 lakh for failure to comply with RBI guidelines concerning 'Interest Rate on Advances'.

Wipro Appoints Anne-Marie Rowland as CEO of Capco

IT major Wipro appointed Anne-Marie Rowland as the Chief Executive Officer (CEO) of Capco, the London-headquartered consulting firm it had acquired for $1.45 billion in 2021.
Rowland is currently Managing Partner of Capco's business in the UK and Ireland and a member of Capco's global leadership team. She will take on the CEO's role effective April 1, 2024.
As CEO, Rowland will report to Delaporte and will become a member of Wipro's Executive Committee (WEC).
She had joined Capco 14 years ago and has consulting expertise in business change management, innovation, and transformation.

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