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BUSINESS AND ECONOMY - December 2018

Dec 2018

Nov 12, 2025

Co-op Banks Now in E-world with 2 Apps

  • Amit Shah launched 'Sahkar Digi-Pay' and 'Sahkar Digi-Loan' Apps - a digital platform enabling quick, paperless, and transparent access to loans and credit for cooperative members across India - at International Conference on Urban Cooperative Credit Sector, and said efforts should be made to establish an urban cooperative bank within next five years in every town with a population of over two lakh.

IndiGo Inks Codeshare Pact with China Southern Airlines

  • IndiGo signed an MoU with China Southern Airlines for a codeshare partnership that will increase its reach and offer better travel options to its customers.
  • The agreement was signed following the launch of IndiGo's Delhi-Guangzhou flight.
  • IndiGo said that the partnership aims to offer enhanced travel options and integrated travel itineraries to customers traveling between India and China on the joint network of both airlines. Customers will also benefit from check-in process among others.

Nov 11, 2025

Diageo Brings in Former Tesco Chief Dave Lewis to Revive Growth

  • Diageo appointed former Tesco boss Dave Lewis as its CEO in November 2025, ending a months-long search and turning to an outsider to revive growth at the world's largest spirits maker during a challenging period for the drinks industry.
  • Lewis, 60, will join Diageo at the start of 2026 and will be tasked with turning around the Johnnie Walker whisky and Guinness beer maker, which last week downgraded its sales and profit outlook for fiscal 2026 and whose shares are hovering near a decade low.
  • Shares in the drinks group, which also makes Don Julio tequila, jumped 7% on news of Lewis' appointment on Monday and were headed for their biggest one-day percentage gain since November 2020.

Sharad Malhotra to Become 1st Indian MD of Nippon Paint India

  • Japan's Nippon Paint Holdings arm, NIPSEA Group, in November 2025, announced the appointment of Sharad Malhotra as Managing Director of Nippon Paint India, effective December 1, 2025, making him the first Indian to occupy the position in the company.
  • Malhotra will succeed Jon Tan as Managing Director, reporting to the Group's CEO, Wee Siew Kim, the company said in a statement.
  • He became the first Indian to be appointed to this position in the company and will be responsible for driving the overall direction and strategy of India Group, it added.
  • Malhotra will continue to spearhead Nippon Paint's global foray into the automotive aftermarket business, a category that he has led since inception.

Punit Lalbhai Appointed Chairman of Anup Engineering

  • Anup Engineering Ltd (TAEL) has announced a change in its board leadership following the resignation of Sanjay S Lalbhai as Chairman and Non-Executive Director. The decision was taken at the company's board meeting in November 2025.
  • TAEL stated that Sanjay Lalbhai stepped down as part of its succession planning process. "As part of our succession planning and to ensure continuity in leadership, I have decided to step down from my position. I am confident that under Punit's leadership, TAEL will continue to build on its strong foundation and deliver sustainable, long-term value for all stakeholders. With this, the board has appointed Punit S Lalbhai, currently Vice-Chairman and Non-Executive Director, as Chairman with effect from November 10, 2025. He will lead the company alongside Managing Director and Chief Executive Officer Reginaldo D'Souza.

Britannia Appoints Rakshit Hargave as New CEO After Varun Berry Resigns

  • FMCG major Britannia Industries has announced a significant change in its top leadership. Varun Berry has resigned from his position as Vice Chairman, Managing Director, and Chief Executive Officer, effective from the close of business on November 10, 2025. The company has appointed Rakshit Hargave as its new Chief Executive Officer and additional whole-time director, signaling a new chapter for the food products giant.
  • This transition marks the end of a pivotal era for Britannia, as Berry has been at the helm for nearly 13 years. In a BSE filing, the company confirmed the leadership change. Hargave's appointment is set for a five-year term, scheduled to begin on December 15, 2025. His appointment is subject to the approval of the company's shareholders.

Nov 07, 2025

Paradeep Phosphates Signs Rahul Dravid as Brand Ambassador

  • Cricketing icon Rahul Dravid was appointed as the brand ambassador for Paradeep Phosphates Ltd. (PPL), one of India's leading fertiliser companies. The partnership aims to leverage Dravid's credibility and influence to promote sustainable farming practices, balanced fertiliser use, and farmer education across India.
  • The collaboration reflects a growing trend in using trusted public figures to drive agricultural awareness, especially around newer technologies and inputs.
  • Paradeep Phosphates, known for its range of phosphatic, NPK, and organic fertilisers, aims to strengthen its connection with India's farming community by associating with a national figure admired for his integrity and discipline.

NaBFID to Transform into Global Infrastructure Bank

  • NaBFID, or the National Bank for Financing Infrastructure and Development, will soon be renamed as Infrastructure Development Bank (IDB). The move aims to position NaBFID as an international financial institution along the lines of the Asian Development Bank and the International Finance Corporation.
  • Along with the name change, NaBFID will also launch a new logo.
  • NaBFID was established following an announcement in the 2021 Union Budget to finance long-term infrastructure projects.

Nov 06, 2025

Sanjay Garg Takes Charge as Director General of BIS

  • Senior civil servant Sanjay Garg of the IAS 1994 batch (Kerala cadre) assumed charge as Director General (DG) of the Bureau of Indian Standards (BIS) in  November 2025. This appointment placed him at the helm of India's national standards body, with additional responsibility as the President of India's national committee in the International Electrotechnical Commission (IEC).
  • Sanjay Garg brings over 30 years of administrative experience covering strategic planning, policy formulation and implementation across sectors such as agriculture, food logistics, defence industry, industrial promotion, finance and social sectors.

Amul & IFFCO Dominate Global Cooperative List

  • India's cooperative sector made a historic mark on the global stage with Amul (GCMMF) and IFFCO ranked first and second, respectively in the International Cooperative Alliance (ICA) World Cooperative Monitor 2025. This recognition affirms India's leadership in cooperative governance and its role in driving inclusive growth, rural development, and food security. The rankings were unveiled at the ICA CM50 Conference in Doha, Qatar, reinforcing India's rising influence in global cooperative economics.
  • These rankings are based on how effectively cooperatives contribute to GDP, uplift communities, and adhere to cooperative principles like democratic governance, collective ownership, and profit-sharing.

Nov 05, 2025

India Post Payments Bank & EPFO Launch Free Doorstep Service

  • India Post Payments Bank (IPPB), a 100% Government of India-owned entity under the Department of Posts, Ministry of Communications, signed Memorandum of Understanding (MoU) with Employees' Provident Fund Organisation (EPFO), Ministry of Labour & Employment, Government of India, to provide doorstep Digital Life Certificate (DLC) services to its pensioners under the Employees' Pension Scheme, 1995 (EPS'95).
  • The MoU was exchanged between R. Viswesvaran, MD & CEO, IPPB & Ramesh Krishnamurthi, Central Provident Fund Commissioner (CPFC), EPFO.
  • Under this collaboration, IPPB will leverage its wide network of over 1.65 lakh Post Offices and 3 lakh+ postal service providers (Postmen and Gramin Dak Sevaks) equipped with Doorstep Banking devices,using of digital process of Face Authentication technology and Fingerprint biometric authentication, to assist EPFO pensioners in submitting their Digital Life Certificates conveniently from their homes, eliminating the need for them to visit bank branches or EPFO officesto submit traditional paper-based certificates.EPFO will bear the cost of issuing Digital Life Certificate entirely, making the service free for their pensioners.

SBI Launches 'SBI-STAR' Awards to Honour Employee Talents

  • The State Bank of India (SBI) launched a unique initiative, SBI-STAR (Staff Talent Acknowledgement & Recognition), to celebrate its employees not just as professionals, but as artists, athletes, volunteers, and change makers. The annual award aims to honour personal excellence beyond the workplace, reinforcing SBI's commitment to holistic employee well-being and recognition.
  • With a workforce exceeding 2.45 lakh employees, SBI became one of the first major financial institutions in India to implement such a structured programme for acknowledging non-professional achievements.
  • SBI-STAR is an annual employee excellence award introduced by India's largest lender to recognise the diverse personal accomplishments of its staff in various spheres, including,
  • Arts & Literature
  • Games & Sports
  • Culture & Creativity
  • Social Work
  • Environmental Initiatives

India to Resume Approvals for Chinese Imports after Five-Year Freeze

  • In a policy shift, India is set to resume approvals for importing goods from China and other countries, ending a five-year freeze imposed after border tensions escalated in 2020. According to government sources, the move is part of a larger strategy to ease supply chain disruptions, support domestic industries, and meet surging consumer demand, particularly following recent Goods and Services Tax (GST) reductions.
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