General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Jan 14, 2024

Mukesh Ambani Re-enters Elite $100 Billion Club

Reliance Industries Limited (RIL) chairman Mukesh Ambani re-entered the $100 billion club.
Ambani climbed to the 12^th spot on the Bloomberg Billionaires Index as his wealth surged over $2.76 billion in a day. With this, he also overtook billionaire industrialist Gautam Adani as Asia's richest person.

Sundram Fasteners Signs Deal with Tamil Nadu for Rs. 1,411 crore Investment

Sundram Fasteners, one of the largest suppliers to original equipment manufacturers and automakers globally, entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for a proposed investment of Rs. 1,411 crore.
The investment will be made in Sundram Fasteners factories across Tamil Nadu situated at Padi; Mahindra World City, SEZ; Velappanchavadi; Gummidipoondi; Hosur; Aviyur, Madurai and Mittamandagapattu, Villupuram. Among the aforementioned, the investments made in Mahindra World City, SEZ fall under both the Industrial Policy and the EV Policy.

Jan 13, 2024

DPIIT Organises Start-up India Innovation Week 2024

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, organised the Start-up India Innovation Week 2024, spanning from January 10 to January 18. This week-long initiative seeks to unite start-ups, entrepreneurs, investors, policymakers, and stakeholders to celebrate and advance the Indian Start-up Ecosystem, culminating in the National Start-up Day on January 16, 2024.
Secretary of DPIIT, Rajesh Kumar Singh, delivered the inaugural address at the Start-up Seminar, themed 'Start-ups Unlocking Infinite Potential.'

Rural Development Ministry Signs Pact with SBI to Facilitate Loans for SHGs

The Rural Development Ministry and State Bank of India signed a memorandum of understanding (MoU) to facilitate enterprise financing for rural self-help groups (SHG).
The MoU was signed by Additional Secretary Deendayal Antyodaya Yojana - National Rural Livelihoods Mission, Charanjit Singh and Chief General Manager, State Bank of India, Corporate office Mumbai, Shantanu Pendsey.
State Bank of India introduced a specialised financial product Svyam Siddha, exclusively tailored for SHG women entrepreneurs seeking loans up to Rs 5 lakhs. This initiative is designed to alleviate the challenges associated with extensive documentation requirements for bank loan applications and reduce the turnaround time (TAT).

Jan 12, 2024

DealShare Elevates Kamaldeep Singh as CEO

Beleaguered e-commerce firm DealShare announced the elevation of Kamaldeep Singh as its Chief Executive Officer (CEO) as the company entered its next phase of growth. Following this development, Sourjeyndu Medda, another co-founder, also departed from the company. Prior to this, co-founders Vineet Rao and Sankar Bora had left the company in November 2023. The e-commerce platform underwent multiple rounds of job cuts and business restructuring in 2023. Rajat Sikhar remains the only founder at the firm but does not hold any stake in the company.

Govt. Appoints Rajay Kumar Sinha as IRDAI's Member for Three Years

The government appointed Rajay Kumar Sinha as the Whole-Time Member (Finance and Investment) of the Insurance Regulatory and Development Authority of India (IRDAI) for a period of three years.
The post of Whole-Time Member in IRDAI had become vacant after Rakesh Joshi retired in November 2023, having reached the age of 62.
Sinha is currently serving as the Managing Director and Chief Executive Officer of SBI Capital Markets, the investment banking arm of the State Bank of India. He also holds the position of Deputy Managing Director at SBI, Corporate Centre, Mumbai.
Sinha, who joined SBI as a probationary officer in 1991, has worked across several banking verticals such as Treasury, International Banking, and Retail Banking.

Jan 11, 2024

Experian Appoints Manish Jain as its Country Managing Director, India

Experian, a leading global information services company, appointed Manish Jain as its new Country Managing Director for Experian in India. He will lead the company's strategic initiatives, drive business growth, and cultivate strong partnerships with clients and stakeholders.
Manish Jain has more than two and a half decades of experience in financial services and technology. Before joining Experian, Manish led transformative initiatives in global organisations, ensuring sustainable business expansion.

Vedanta's Hindustan Zinc Ranks No. 1 in S&P Global Corporate Sustainability Assessment 2023

Vedanta's Hindustan Zinc (HZL), the zinc, lead, and silver producer, secured the coveted first position in the S&P Global Corporate Sustainability Assessment 2023 in the metals and mining sector. With an impressive score of 85, Hindustan Zinc stood out as the top-ranked company among the 238 global peers in the sector. Vedanta Limited, the parent company secured the third position globally, moving up three ranks with a notable score of 80.
The accomplishment reflects the company's commitment to sustainable business practices and responsible corporate citizenship. The score also makes Vedanta eligible for inclusion in The Dow Jones Sustainability World Index, one of the world's most trusted environmental, social, and governance (ESG) indices, The Dow Jones Sustainability Emerging Markets Index, and the S&P Global LargeMidCap ESG Index.

Jan 10, 2024

PFC Secures RBI Approval for IFSC Finance Company in GIFT City

Power Finance Corporation (PFC) received approval from the Reserve Bank of India (RBI) to set up a wholly-owned finance company in the GIFT City in Gujarat. The entity at the International Financial Services Centre (IFSC) will present new business opportunities for PFC and contribute to the growth of the country's power sector.

IndusInd Bank Introduces 'Samman RuPay Credit Card' for Government Employees

In a strategic collaboration with the National Payments Corporation of India (NPCI), IndusInd Bank launched the UPI-enabled 'Samman RuPay Credit Card,' exclusively tailored for government sector employees. This initiative aligns with the RBI permission allowing RuPay credit cards to integrate with UPI payment applications.
The Samman RuPay Credit Card combines traditional credit card advantages with advanced UPI features, streamlining financial transactions.
Benefits include cashback on various expenditures, complimentary movie tickets, no cash advance charges, and surcharge waivers for IRCTC and fuel transactions.

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