General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Oct 23, 2022

HDFC Securities Opens Women-Only Digital Centre in Bengaluru

Leading stock brokerage firm, HDFC Securities, announced the opening of the first-ever women-only Digital Centre (DC) in India. This pioneering centre, staffed with a team of women, will serve both male and female investors. This closely follows the company's announcement regarding the opening of multiple DCs across India to ease access to services and promote digital adoption.
The women-only DC is another step in HDFC Securities' aim to foster diversity within the organization, while also empowering its customers with technology that eases their journey to financial freedom.

Sachin Tendulkar Partners with Digital Cricket NFT Platform Rario

Digital cricket collectibles platform Rario announced that it has partnered with former cricketer Sachin Tendulkar to enter the non-fungible token (NFT) market.
With this partnership, Tendulkar not only serves as a strategic investor, but also makes it possible for fans to purchase his digital collectibles exclusively on the platform.
Many legendary and upcoming cricketers are already on Rario's platform exclusively, including Aaron Finch, Faf Du Plessis, Quinton de Kock, Shakib Al Hasan, Rishabh Pant, Virender Sehwag, Zaheer Khan, Smriti Mandhana, Arshdeep Singh and Axar Patel.
"The NFT technology brings fans closer to sports, giving them an opportunity to treasure their favourite moments.

Wipro Appoints Suzanne Dann as CEO for Americas 2 Strategic Market Unit

Wipro appointed Suzanne Dann as Chief Executive Officer of Wipro Americas 2 Strategic Market Unit, effective immediately. Dann would also join the Wipro Executive Board.
In her new role, Dann would focus on increasing bookings, large deal signings, and revenue in high-growth strategic areas. She will also direct operational changes to improve margins and continue investments in talent to serve clients' changing needs.
Dann joined Wipro in April 2021 as US Senior Vice President for Capital Markets and Insurance.

Oct 22, 2022

India Post Payments Bank, RBIH Join Hands for Financial Product, Services

India Post Payments Bank and Reserve Bank Innovation Hub joined hands to focus their efforts on enhancing the reach of financial solutions to large sections of society across India and enabling frictionless finance to a billion Indians. Under the arrangement India Post Payments Bank (IPPB) and Reserve Bank Innovation Hub (RBIH) will plan, design and execute innovative products and offerings to bridge the existing gap by bringing digitalised services at the customer's doorstep.
The collaboration between IPPB and RBIH will explore projects which shall have impact on the masses by leveraging the deep rural reach of IPPB-Department of Posts (DoP) to take rural finance to a billion Indians.
Both entities will jointly work to enabling access to sustainable and secure finance services to every segment of the society, through research and innovation.

Mahindra & Mahindra Financial Services Partners with India Post Payments Bank

To enhance credit access to larger customer base Mahindra & Mahindra Financial Services Limited announced a strategic partnership with India Post Payments Bank (IPPB) to further enhance credit access to a larger customer base. As a part of this alliance, India Post Payments Bank (IPPB) would provide Lead referral services to MMFSL for Passenger Vehicles, 3-Wheeler, Tractor and Commercial Vehicle Loan categories and provide cash EMI deposit facility to existing MMFSL customers at Post Offices.

Oct 21, 2022

Paytm Payments Bank Appoints Deependra Singh Rathore as Interim CEO

Paytm Payments Bank appointed Deependra Singh Rathore as the interim Chief Executive Officer (CEO), in addition to his role as Chief Product & Technology Officer. The bank also appointed Sunil Chander Sharma, a former IRS officer as Chief Operating Officer (COO). As the COO, he would oversee the functions of customer support, retail operations, legal and Law Enforcement Agencies (LEA) and Human Resources and Administration.
Paytm Payments Bank (PPBL) is an Indian payments bank, founded in 2015 and headquartered in Noida. In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017. In 2021, the bank received a scheduled bank status from the RBI.

Oct 20, 2022

Nestle Enters into D2C Space, Launches Online Platform

FMCG major Nestle India launched its own Direct-to-Consumer (D2C) platform, foraying into the fast-growing online channel.
The company launched its D2C platform MyNestl in Delhi-NCR and will expand to other parts of the country, said Nestl India Chairman and Managing Director Suresh Narayanan.
This has been created specifically keeping the consumer needs in mind.

Yubi Appoints Atanu Chakraborty as Independent Chairman of its Board

Yubi, formerly CredAvenue, announced the appointment of the retired civil servant and current Chairman of the Board of HDFC Bank Atanu Chakraborty as the Independent Chairman of its Board.
Chakraborty has held prestigious positions as the Joint Secretary of the Ministry of Finance and part of the Central Board of Directors of the Reserve Bank of India.

LIC Launches New 'Dhan Varsha' Plan

Life Insurance Corporation (LIC) launched a new scheme 'LIC Dhan Varsha.' This is a non-linked, non-participating, individual, savings life insurance plan which offers a combination of protection and savings.
This plan provides financial support for the family in case of unfortunate death of the life assured during the policy term. It also provides guaranteed lump sum amount on the date of maturity for the surviving life assured.
This is a close ended plan and would be available for sale till March 31, 2023.

Vedanta Arm Balco Wins Bid for 900 mn Tonne Coal Block in Chhattisgarh

Vedanta Ltd's arm Balco won the bid for a coal block in Chhattisgarh.
The company emerged as successful bidder for the mine during the fourth round of commercial coal mine auction conducted by the government.
The coal block is an optimal fit for Balco, given its logistical location.
Once operational, the mine will provide fuel security, enhance power availability, and further strengthen Balco's operations and performance.
The block has estimated reserves of 900 million tonnes.
Balco was incorporated in 1965 as the first public sector undertaking in the country.

Oct 19, 2022

Adani Airports Appoints Ericsson Veteran Arun Bansal as CEO

Adani Airport Holdings again rejigged its top management, naming Ericsson veteran Arun Bansal its Chief Executive Officer. Bansal, who spent 25 years at the Swedish telecom network company, was most recently its president for Europe and Latin America. The appointment would help strengthen digital transformation and the business growth agenda.
Adani's airports account for 25% of airport footfalls and 40% of air cargo in India.

Tata Motors Bags Order for 200 E-buses

Tata Motors received an order for 200 electric buses which would be deployed in Jammu and Srinagar.
The Mumbai-based auto major won the tender of 200 electric buses floated by Jammu Smart City Ltd.
The automaker would supply 150 units of 9-metre and 50 units of 12-metre Starbus electric buses,
As part of the contract, Tata Motors would operate and maintain the buses for a period of 12 years.
Since 2019, Tata Motors' 40 electric buses have been plying in Jammu and Kashmir along with a cumulative supply of 715 electric buses across multiple cities in India.

Adani Group Buys Air Works, Forays into Aircraft Maintenance Business

Adani Group acquired Air Works, India's second oldest maintenance repair and overhaul unit, for an enterprise valuation of Rs. 400 crore.
The group controls seven airports and the latest acquisition would give it maintenance capabilities in all three aircraft maintenance verticals — airline, business jets and defence.
Set up in 1951 by two friends P. S. Menon and B. G. Menon, Air Works has presence in 27 cities, including hangars in Mumbai, Hosur, and Kochi. Indamer Aviation, the oldest private MRO in the country, was set up in 1947.
D. Anand Bhaskar, MD & CEO of Air Works Group, said that the government's policy measures and initiatives, including convergence of civil and defence MRO, will create economies of scale and huge employment opportunities.
India's MRO market is expected to grow three times from $1.7 billion to $5 billion by 2030. Currently, Air Works and Boeing are undertaking heavy maintenance checks on three P-8I aircraft that are operated by the Indian Navy.
Earlier this year, Air Works partnered with UAE-based Mach Technik to offer line maintenance services to airlines in Dubai.

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