General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Jul 23, 2023

Jaguar Land Rover Appoints Mardell as CEO

Tata Motors' wholly-owned subsidiary, Jaguar Land Rover (JLR), announced the appointment of interim boss Adrian Mardell as the Chief Executive Officer (CEO) for a three-year term. The carmaker also made acting chief financial officer Richard Molyneux's role permanent.
Mardell joined JLR in 1990 and has held a variety of positions.

Jul 22, 2023

After France and Singapore, India's UPI Payment Model Reaches Sri Lanka

India's Unified Payments Interface (UPI) technology will now be accepted in neighbouring Sri Lanka. Apart from UPI's acceptance, several agreements were also exchanged between India and Sri Lanka in the presence of Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe in the national capital.
In India, the UPI payments system has become hugely popular for retail digital payments and its adoption is rapidly increasing across the world.

Nivruti Rai New as Managing Director & CEO of Invest India

Former Intel India country head Nivruti Rai joined as the Managing Director and CEO of Invest India. Rai joined Invest India after 29 years at Intel. She led Intel India as country head for seven years.
Invest India is an investment promotion agency, whose aim is to facilitate investors looking to invest in India. It also plays a role in executing the government's flagship initiatives including Make in India, Startup India, and National Single Window System.
Rai is the recipient of the prestigious Nari Shakti Puraskar for her contributions to the field of technology.

Govt. Appoints Sat Pal Bhanoo as Managing Director of Life Insurance Corporation

The government appointed Sat Pal Bhanoo as one of the Managing Directors of Life Insurance Corporation (LIC).
He was appointed in place of Siddhartha Mohanty who was appointed as Chairman of LIC.
Bhanoo's appointment is effective from the date of assumption of charge and up to the date of his superannuation on December 31, 2025 or until further orders, whichever is earlier.

Jul 21, 2023

Cognizant Appoints Six Women Executives as Senior Vice Presidents

Cognizant appointed six women for senior vice president (SVP) roles, which include a mix of promotions and new hires and marked leadership changes under Chief Executive Officer (CEO) Ravi Kumar S.
Cognizant has seen leadership changes since Kumar joined as its CEO in January 2023. One of Kumar's key priorities has been to increase Cognizant's diverse talent, including in leadership positions, in addition to focusing on three key imperatives: make the company an employer of choice in the IT services firm industry, accelerate revenue growth, and enhance operational discipline.
The sixwomen appointed as vice presidents were: Elisa de Rocca-Serra, Thea Hayden, Patricia (Trish) Hunter-Dennehy, Sailaja Josyula, Archana Ramanakumar and Sandra Natardonato.

SBI Capital Market Ropes in Rajay Kumar Sinha as MD & CEO

Rajay Kumar Sinha was appointed as the Managing Director & Chief Executive Officer of SBI Capital Markets Limited (SBICAPS).
Earlier, he was in charge of Treasury operations of SBI, managing investment portfolio, money market, equity, private equity & forex operations of the Bank.
Sinha replaced Amitava Chatterjee who moved to SBI, Corporate Centre as Deputy Managing Director, in charge of Commercial Clients Group.
Sinha brings in global markets expertise that will help strengthen SBICAPS' investment banking business in India and overseas.

Japan Second Quad Partner to Sign Semiconductor Pact with India

Japan became the second Quad partner after the United States to sign an agreement with India for the joint development of the semiconductor ecosystem and maintain the resilience of its global supply chain.
The agreement was signed between Union Minister for Electronics and IT Ashwini Vaishnaw and Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura in the national capital.
The nations will create an implementation organisation that will work on government-to-government and industry-to-industry cooperation.
With around 100 semiconductor manufacturing plants, Japan is among the top five countries to have a semiconductor ecosystem.

Jul 20, 2023

Finance Ministry Appoints SEBI ED Pramod Rao to IFSCA Board

Finance Ministry appointed Pramod Rao, Executive Director, SEBI, as a Member in the Board of International Financial Services Centre Authority (IFSCA). Rao replaced Sujit Prasad, Executive Director SEBI, who was appointed as a Member (representing SEBI) in IFSCA in July 2020.
Rao took charge as SEBI Executive Director on July 15, 2022. Prior to this assignment at SEBI, Rao, an alumnus of the National Law School of India University, held the position of Group General Counsel at ICICI Bank and provided strategic oversight to the legal function for the ICICI Group.
Earlier, he had served as a Member of the Board of Directors of ICICI Securities Ltd, ICICI Prudential Trust Ltd and ICICI Trusteeship Services Ltd.
The IFSCA is a statutory authority established under the International Financial Services Centres Authority Act, 2019 with a mandate to develop and regulate the financial products, financial services, and financial institutions in the International Financial Services Centres (IFSC). Currently, GIFT City in Gujarat is India's first and only operational IFSC.

SBI to Set Up Trustee Company to Manage CDMDF

State Bank of India will set up a new trustee company as its wholly-owned subsidiary for managing the Corporate Debt Market Development Fund (CDMDF).
CDMDF will act as a backstop facility for purchase of investment grade corporate debt securities to instill confidence amongst the participants in the corporate bond market during times of stress and to generally enhance secondary market liquidity by creating a permanent institutional framework for activation in times of market stress.
SBI Funds Management Ltd (SBIFML), the asset management company (AMC) of SBI Mutual Fund, has been identified as the investment manager-cum-sponsor of CDMDF.
CDMDF will be launched as a close ended scheme with an initial tenure of 15 years from the date of its initial closing (date on which contribution from all AMCs and specified schemes is received by CDMDF).

PhonePe Insurance Launches Monthly Subscriptions for Health Policies

PhonePe Insurance Broking Services launched health insurance plans that for the first time in India offer monthly subscriptions, a move that can reduce the burden of one-time payments for the citizens amid price pressures.
The health insurance plans, in partnership with leading insurers, are introducing UPI monthly mode of payment.
The company, a wholly owned subsidiary of fintech major PhonePe, has sold more than 5.6 million policies. Its insurance plans have a coverage of up to Rs. 1 crore and allow users to choose any hospital room without limit.

Jul 19, 2023

Neeraj Akhoury New President of Cement Manufacturers' Association

The Cement Manufacturers' Association (CMA), the apex body of India's large cement manufacturers, unanimously elected Neeraj Akhoury, Managing Director of Shree Cement, as President and Parth Jindal, Managing Director of JSW Cement as vice president. Akhoury took over from K. C. Jhanwar, Managing Director of UltraTech Cement Limited. Members unanimously endorsed the election of the president and vice president of CMA expressing full confidence in the newly elected leadership team.
The Cement Manufacturers' Association (CMA) is the apex body of large cement plants in India, representing almost 90% of the total installed cement capacity. CMA was established in 1946 with the objective of promoting the growth and development of the Indian cement industry.
The CMA is a member of the World Cement Association and the Asia Cement Federation. It also has close working relationships with other industry associations and government bodies.

Tamil Nadu Tops NITI Aayog's Export Preparedness Index 2022

Tamil Nadu pipped Maharashtra and Gujarat and emerge as the top state among coastal states in the Niti Aayog's Export Preparedness Index 2022.
Tamil Nadu was followed by Maharashtra, Karnataka, Gujarat, Andhra Pradesh, Odisha, West Bengal and Kerala in that order in the ranking of coastal states, according to the government think tank's report.
Among hilly/Himalayan states, Uttarakhand ranked at the top position. It was followed by Himachal Pradesh, Manipur, Tripura, Sikkim, Nagaland, Meghalaya, Arunachal Pradesh and Mizoram in that order.
Haryana topped the chart among the landlocked regions. It was followed by Telangana, Uttar Pradesh, Punjab, Madhya Pradesh and Rajasthan.
The ranking is based on four main pillars: policy, business ecosystem, export ecosystem and export performance.
The index is also aimed at promoting competition among all states (coastal, landlocked, Himalayan and UTs) to bring about favourable policies, ease the regulatory framework, create necessary infrastructure and assist in identifying strategic recommendations for improving export competitiveness.

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