General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Sep 20, 2025

India's Sovereign Credit Rating Upgraded to BBB+ by Japan's R&I

In a major boost to India's economic standing, Japan's Rating and Investment Information, Inc. (R&I) upgraded the country's Foreign Currency Issuer Rating from BBB to BBB+ with a stable outlook.
The move highlights confidence in India's strong domestic demand, prudent fiscal management, and enhanced external stability.

Oil India & Hindustan Copper Signs Critical Minerals MoU

In a strategic move to bolster India's mineral security, Oil India Limited (OIL) and Hindustan Copper Limited (HCL) signed a Memorandum of Understanding (MoU) in September 2025.
The agreement aims to jointly explore and develop critical and strategic minerals, particularly copper and associated resources.
This partnership is a key part of India's broader efforts under the National Critical Mineral Mission, which focuses on securing essential raw materials for energy, industry, and technology.

US to Revoke Sanctions Waiver for Iran's Chabahar Port

In yet another tough move against India, the Donald Trump administration in the United States announced the revocation of its waiver of sanctions over the strategic Iranian port of Chabahar, granted in 2018.
The move, which threatens India's key strategic connectivity project to Afghanistan and Central Asia, is set to be implemented from September 29, according to the US Department of State.
Team Trump claimed that the move is part of Washington's "maximum pressure" campaign against Tehran over its suspected nuclear programme.
Once the revocation is effective, persons who operate the Chabahar Port or engage in other activities described in IFCA (Iran Freedom and Counter-Proliferation Act) may expose themselves to sanctions under IFCA.

Sep 19, 2025

EPFO Launches 'Passbook Lite' for Easier Access to PF Balance

The Employees' Provident Fund Organisation (EPFO) in September 2025 launched a new facility called the 'Passbook Lite' within its members' portal, which will provide a summarised view of the passbook with contributions, withdrawals, and current balance.
Currently, members need to log in separately to the 'Passbook Portal' to check their Provident Fund details.

Irdai Chairman Ajay Seth Launches Bima Sugam India Federation Website

Insurance Regulatory Development Authority of India (Irdai) chairman Ajay Seth in September 2025, launched the official website of Bima Sugam India Federation (BSIF).
The launch marks the first visible step in building India's pioneering Digital Public Infrastructure (DPI) for insurance, aligned with the national vision of 'Insurance for All by 2047' and the Prime Minister's mission of Viksit Bharat 2047.

Sep 18, 2025

BSNL Partners with Department of Posts to Boost Telecom Access in Remote Areas

Department of Posts and the Bharat Sanchar Nigam Limited (BSNL) signed an MoU in New Delhi to expand the mobile connectivity of BSNL across the country.
The MoU signed in September 2025, aimed to bridge the digital divide, empower rural households with mobile services, and advance the broader goals of Digital India for financial inclusion and socio-economic development.
The agreement will make BSNL's telecom services more accessible and affordable, particularly for citizens in the remotest parts of the country. Under this, the Department of Posts will leverage its postal network of over one lakh 65 thousand Post Offices for the sale of BSNL SIM cards in the country.
The Department of Posts will serve as a powerful last-mile channel for the BSNL network to enhance its presence in both urban and rural geographies.

P&G Health Appoints Shashank Srowthy as CFO

Procter & Gamble Health appointed Shashank Srowthy as the company's chief financial officer, effective October 1.
Srowthy will take over from Lokesh Chandak, who is moving to a new assignment as senior director – finance and accounting, feminine care, P&G Asia, Middle East and Africa.
He has over 14 years of experience in finance roles at P&G. Srowthy joined the company in 2011 in India and has since worked across multiple roles and geographies, delivering results for several P&G businesses in India, Dubai, and Singapore. He is currently director – finance, haircare, P&G Asia, Middle East and Africa.

Sep 17, 2025

Carlos Felipe Jaramillo Appointed as World Bank Vice President for East Asia and Pacific (EAP) Re...

In September 2025, the World Bank Group appointed Carlos Felipe Jaramillo as Vice President for the East Asia and Pacific (EAP) Region.
The appointment marked a significant shift in the Bank's regional operations, with Singapore now designated as the regional hub—reflecting the institution's broader decentralisation strategy to improve client services and on-the-ground support.
As EAP Vice President, Jaramillo will oversee partnerships with 23 countries and manage an active portfolio exceeding US$32 billion.

EPFO Officer Selected for World Bank-Milken PFAM Program

In 2025, Vivekanand Gupta, Regional Provident Fund Commissioner, has been selected to represent India and the Employees' Provident Fund Organisation (EPFO) in the prestigious Public Financial Asset Management (PFAM) Program 2025–26.
The program is jointly organised by the World Bank and the Milken Institute, and hosted at Bayes Business School, City, University of London.
This marked the first time an EPFO officer was chosen for this elite global program and the first-ever representation from India, establishing a landmark moment in public financial leadership and international engagement.
The nomination was facilitated through a rigorous selection process conducted by Pandit Deendayal Upadhyay National Academy of Social Security (PDUNASS)—EPFO's apex training institution.
By identifying and recommending Shri Gupta, PDUNASS has elevated EPFO's presence in the global arena and set a precedent for future institutional collaborations in investment governance, capital markets, and asset management.
The Public Financial Asset Management (PFAM) Program is a globally acclaimed leadership development initiative.

PNB Extends M. Paramasivam's Term as Executive Director

In September 2025, Punjab National Bank (PNB) extended the tenure of M. Paramasivam's as its Executive Director.
The decision, approved by the Department of Financial Services, Ministry of Finance, ensured leadership continuity at one of India's largest public sector banks.
His leadership has contributed to PNB's efforts in improving asset quality, expanding digital infrastructure, and aligning with government financial inclusion schemes.

CM Inaugurates SIDCO's Industrial Estate at Muththur Near Tirunelveli

Chief Minister M.K. Stalin, through video conference, inaugurated the Small Industries Development Corporation (SIDCO) new industrial estate at Muththur in Palaymkottai taluk.
Tirunelveli District Collector R. Sukumar, Palayamkottai MLA M. Abdul Wahab, and Deputy Mayor of Tirunelveli K.R. Raju lighted the traditional lamp at the site.

Sep 16, 2025

MEIL Secures Bid for India's First Private Strategic Petroleum Reserve

Megha Engineering & Infrastructures Ltd (MEIL) secured the contract from Indian Strategic Petroleum Reserves Ltd (ISPRL) to build India's first private-sector strategic petroleum reserve (SPR).
MEIL won the mandate to build and operate a 2.5 million metric tonnes (MMT) SPR at Padur in Karnataka.
The Rs. 5,700-crore project carries an estimated crude-oil filling cost of Rs. 11,020 crore at current prices.

L. Satya Srinivas Appointed as India's Executive Director at the Asian Development Bank

The government appointed L. Satya Srinivas, special secretary in the commerce ministry, as the executive director (ED) for India at the Asian Development Bank (ADB).
Srinivas, who was set to retire from government service in February 2026, would continue to serve as India's ED at the ADB on a contract basis after that.
He was appointed for a total of three years from the date of his assumption of charge or until further orders, whichever was earlier.
The decision was made by the Appointments Committee of the Cabinet.
Srinivas, a 1991-batch Indian Revenue Service officer, succeeded senior bureaucrat Vikas Sheel at the ADB. As India's ED, he would also represent Bangladesh, Bhutan, Laos, Tajikistan, and Turkmenistan on the ADB's board of directors.

Myntra Partners Sourav Ganguly to Launch Souragya Ethnic Wear Brand

Former Indian cricket captain Sourav Ganguly partnered with Myntra and launched "Souragya," a premium ethnic wear brand.
The collection, which debuted before Durga Puja, celebrated Indian craftsmanship with a contemporary twist and paid homage to Bengal's artistic and cultural heritage.
Souragya offered nearly 100 styles, including Kantha embroidery and Jamdani weaves, and aimed for national appeal.

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