General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Sep 18, 2022

India Emerges as Sri Lanka's Top Lender in 2022

India emerged as the top lender to Sri Lanka in 2022, disbursing USD 377 million in loans to the island nation as it grappled with an unprecedented political crisis and economic turmoil, according to the Verite Research think-tank.
The Asian Development Bank followed India with USD 360 million in loans. They account for 76 per cent of total disbursements from January to April 2022.
Between 2017 and 2021, China was the largest bilateral lender to Sri Lanka. In 2021, China had provided USD 947 million.

Two-wheeler Maker Eicher Motors Joins Rs. 1-trn Market Capitalisation Club

Two-wheeler-maker Eicher Motors Ltd joined the Rs. 1 trillion market capitalisation club during the intra-day trade.
Eicher Motors rolls out the 350cc Bullet and other brands of higher capacity bikes.
Eicher Motors also holds majority stakes in the commercial vehicle joint venture with Volvo - VE Commercial Vehicles.
In the two-wheeler segment, Eicher Motors has been on the upswing with sales going up.

Adani Ports Signs Agreement with SPMK to Enhance Haldia Dock's Capacity

HDC Bulk Terminal Ltd (HBTL), a wholly owned subsidiary of Adani Ports and Special Economic Zone Limited (APSEZ), signed the concession agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) for mechanisation of berth no. 2 at Haldia Port. APSEZ was selected as a successful bidder by SMPK earlier in February.
The agreement signed marked APSEZ's first project in West Bengal.
As per the Concession Agreement signed between SMPK and HBTL, the special purpose vehicle (SPV) formed to implement the project will get the rights to design, build, finance, operate, maintain and manage the bulk terminal with a capacity of 3.74 million tons per annum for a concession period of 30 years at Haldia Dock Complex, Haldia.

Sep 17, 2022

Vedanta Ltd Bags Two Coal Commercial Mines in E-auction in Odisha

Vedanta Ltd emerged as the highest bidder for two coal mines in Odisha on the second day of commercial coal mines auction.
The government put on sale 10 coal mines under the commercial coal mine auction.
The blocks were auctioned under the second attempt of the fourth round of commercial coal mine auction.
Both the coal mines are fully explored and have Peak Rate Capacity (PRC) of 20 million tonnes per annum.

IndusInd Bank Re-appoints Sumant Kathpalia as MD & CEO for 3 Years

IndusInd Bank approved the re-appointment of Sumant Kathpalia as Managing Director and Chief Executive Officer for three years with effect from March 24, 2023, the private lender informed exchanges.
The re-appointment is subject to approval from the lender's shareholders and the Reserve Bank of India.
Kathpalia was appointed as MD & CEO of IndusInd Bank in March 2020.
Prior to joining IndusInd Bank, Kathpalia had stints with Citibank, Bank of America and ABN Amro.

Sep 16, 2022

CSB Bank Appoints Pralay Mondal as MD & CEO

The Reserve Bank of India approved the appointment of Pralay Mondal as the Managing Director and Chief Executive Officer of CSB Bank for three years.
Mondal was the deputy managing director of the bank since February 17, 2022 and was subsequently appointed as interim MD & CEO with effect from April 1, 2022.
Mondal started his stint in CSB Bank in September 2020 as the president of retail, SME, operations and IT and was involved in building up the retail franchise distribution and branches.

Canara HSBC Life Insurance Launches iSelect Guaranteed Future Plan

Canara HSBC Life Insurance launched iSelect Guaranteed Future. The iSelect is an individual, non-linked, non-participating, savings and protection life insurance plan over the company's digital platform. The project targets new-age customers who are most active on the internet and prefer digital platforms.
The product offers guaranteed benefits with the flexibility to choose plan options, premium amount, premium payment term, Policy term, and premium payment mode basis the customer's saving needs.

Andhra Pradesh, Odisha Attract Maximum Industrial Investment in 2022

Andhra Pradesh topped the charts for attracting maximum industrial investment in the country. Andhra Pradesh attracted investments from several tech giants in the first seven months of 2022.
The latest statistics of the Department for Promotion of Industries and Internal Trade (DPIIT), a central government agency, revealed that by the end of July 2022, India got an industrial investment worth Rs. 1,71,285 crore. Andhra Pradesh topped the list with Rs. 40,361 crore, followed by Odisha with Rs. 36,828 crore.
Andhra Pradesh and Odisha combinedly bagged 45 per cent of total investment.

Tata Consumer Appoints David Atkinson to Head its UK, Ireland Business

Tata Consumer Products (TCP), the FMCG arm of Tata Group, announced the appointment of David Atkinson as Senior Vice President and Head of its UK and Ireland business.
In his new role as Country Head, Atkinson would be responsible for leading the business and teams in the UK and Ireland.
Atkinson, who comes with over two decades of experience, joined TCP from Hain Daniels Group, where he served as Managing Director, Grocery.

Sep 15, 2022

TCS Becomes India's Most Valuable Brand in 2022

According to Kantar BrandZ report on India's most-valuable brands, Tata Consultancy Services (TCS) is India's most-valuable brand in 2022 replacing HDFC Bank, which held the number one spot since 2014.
TCS grabbed the top slot due to rising global demand for automation and digital transformation, following the pandemic.
Indian brands bounced back from the pandemic to increase their brand value by 35 per cent compound annual growth rate (CAGR) since 2020.
As per the report, India's top-75 brands are worth $393 billion.

India Post Payments Bank partners with Koo to Drive Financial Inclusion in Remote Cities

India Post Payments Bank (IPPB), a division of India Post, the country's postal giant, partnered with the Indian microblogging platform Koo. IPPB signed a memorandum of understanding (MoU) with Koo to boost financial inclusion and literacy in the country.
IPPB and Koo will work together to promote financial education in tier-2, tier-3, remote, and hinterlands. Koo is a multilingual platform that allows users to communicate in 10 languages – Hindi, Marathi, Gujarati, Punjabi, Kannada, Tamil, Telugu, Assamese, Bengali and English.
The partnership between Koo and IPPB will allow the bank to reach out to their customers across the country, even in remote cities and hinterlands and use the multi-lingual Koo (MLK) feature offered to communicate in the language that the customer is comfortable in.

SBI Becomes Third Indian Lender to Surpass Rs. 5 Trillion Market Cap

Public lender State Bank of India (SBI) hit the Rs. 5 trillion mark in market capitalisation (market cap) for the first time after its shares touched a record high of Rs. 564.45, up 1 per cent on the BSE in intra-day trade.
With a market cap of Rs. 5.03 trillion, SBI stood at the seventh position in the overall market cap ranking, according to the data from BSE.
With this, SBI became the third lender in the country to cross the market cap of Rs. 5 trillion. HDFC Bank, India's largest private lender holds first rank in this list, with a market cap of Rs. 8.38 trillion, followed by ICICI Bank, which has a market cap of Rs. 6.33 trillion, data shows.

Sep 14, 2022

Former RBI Deputy Governor Kanungo, Kaushik Dutta Join BharatPe Board

Fintech unicorn BharatPe appointed former RBI deputy governor B. P. Kanungo and TARI founder Kaushik Dutta as independent directors as it looks to strengthen governance rigour and transparency in the preparation of a listing.
The firm, which currently has nine directors on its board, is looking to have at least one-third of directors as independent directors.
The appointments are in line with the company's aim to build a world-class institution and being the torchbearer of corporate governance in the start-up world.

HDFC Life Launches Click2Protect Super Term Insurance Policy

HDFC Standard Life Insurance launched a term insurance plan Click2Protect Super, which enables customisation as per protection needs and you only pay for the benefits/plan options that you have chosen.
Click2Protect Super is a non-linked, non-participating, individual, pure risk premium/ savings life insurance plan that provides you with multiple flexibilities such as changing life cover, extending the policy term, getting coverage for accidental death and terminal illness, among others.
The plan provides comprehensive financial protection for the family. One can choose a cover as per requirement from among three plan options – Life, Life Plus & Life Goal.

Axis Bank, Square Yards Launch Co-branded Home Buyer Ecosystem

Private lender Axis Bank and Square Yards, an integrated real estate platform launched 'Open Doors', a co-branded home buyer ecosystem, which offers one-stop solution from searching to buying a home.
As per reports, Open Doors is a first-of-its-kind unified platform, designed to address the entire gamut of customer queries related to residential property.
With this collaboration, Axis Bank and Square Yards customers can avail an array of financial benefits, including customized loan amounts and flexible tenure, along with minimal documentation for a seamless home buying experience.

Former SEBI Chief Damodaran to Head Committee to Boost PE/VC Investments

The Finance Ministry constituted an expert committee headed by former SEBI chief M. Damodaran to examine and suggest appropriate measures to address regulatory issues to scale up investments by venture capital (VC) and private equity (PE).
Other members of the committee include G. Mahalingam, former whole time member of SEBI and executive director of RBI; D.P. Nagesh Kumar, former member, CBIC; Ashish Verma, former principal chief commissioner of income tax; Poonam Gupta, director general of NCAER; and Prabhat Ranjan Acharya, director, Arun Jaitley National Institute of Financial Management.

BMW Agrees to Set Up Auto Parts Manufacturing Plant in Punjab

As per reports, Germany's luxury carmaker BMW agreed to set up its auto part manufacturing unit in Punjab.
A decision to this effect was taken during the visit of Punjab Chief Minister Bhagwant Mann at BMW headquarters in Germany.
Mann was on a visit to Germany to woo investors as his government promotes Punjab as the most preferred destination for doing business.

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