General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Aug 12, 2025

DPIIT Signs MoU with Hero MotoCorp to Support and Scale Early-Stage Start-ups

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry signed a Memorandum of Understanding (MoU) with Hero MotoCorp Limited to support and scale early-stage start-ups and entrepreneurs through its innovation accelerator programme 'Hero For Start-ups'.
Under the Start-up India initiative, DPIIT and Hero MotoCorp will jointly support start-ups working in areas related to the future of mobility, clean technology and deep technology. The partnership will provide selected start-ups with exclusive access to Hero MotoCorp's world-class research and development facilities in Germany and India. Shortlisted start-ups will also have the opportunity to work on paid Proofs of Concept (PoCs), enabling successful pilots and unlocking valuable market exposure to accelerate the growth and visibility of their innovations.

Anandamayi Bajaj - 5th Generation of Shri Jamnalal Bajaj, Becomes the First Woman Leader to Join ...

The Bajaj Group proudly announced the joining of Ms. Anandamayi Bajaj, daughter of Chairman Mr. Kushagra Nayan Bajaj, as the/fifth-generation scion of the legendary founder Shri Jamnalal Bajaj, Anandamayi marks a historic moment in the Group's journey as its first woman leader.
Having graduated in Financial Economics and Mathematics from Columbia University, New York, Anandamayi brings with her a sharp intellect, global exposure, and a deep-rooted commitment to the Bajaj legacy.

KSFE Becomes First Miscellaneous NBFC in India to Cross Rs. 1 Lakh Crore Turnover

Kerala State Financial Enterprises (KSFE) achieved a historic milestone, becoming the first miscellaneous non-banking financial company (NBFC) in India to record a business turnover of Rs. 1 lakh crore. The state-owned firm reached this figure in record time, doubling its turnover from Rs. 50,000 crore in just four years.

Aug 11, 2025

GeM Marks 9th Anniversary

Government e Marketplace (GeM) celebrated its 9^th Foundation Day. Launched in 2016 to promote transparent, inclusive and efficient public procurement in line with the Prime Minister's vision of "Minimum Government, Maximum Governance," the platform has grown into a digital procurement system connecting sellers and service providers across the country, including women entrepreneurs, start-ups, micro and small enterprises (MSEs), artisans, self-help groups (SHGs) and Divyangjans. In FY 2024–25, it recorded transactions worth Rs. 5.4 lakh crore in Gross Merchandise Value (GMV).
This year's Foundation Day celebration was held on the theme 'Ease, Access and Inclusion'. Key reforms announced include the elimination of caution money for sellers, rationalisation of vendor assessment fees and a reduction in transaction charges, resulting in exemption for 97 per cent of orders. These measures are aimed at making public procurement more accessible and equitable.

ICICI Bank Records Lowest Attrition Rate among Private Peers for Three Consecutive Years

ICICI Bank reported the lowest employee attrition rate among large private sector lenders in the last three financial years, reflecting higher stickiness due to competitive remuneration and a better working environment.
According to its Business Responsibility and Sustainability Reporting (BRSR) report, the bank's attrition rate fell to 18% in FY25, down from 24.5% in FY24 and 30.9% in FY23.

BEML Bags its First Overseas Rail and Metro Contract, from Malaysia

State-owned firm BEML Limited received its maiden overseas contract in the rail and metro segment from Malaysia valued at USD 1 million.
The work is for the retrofit and reconditioning of the Mass Rapid Transport System.
BEML Limited, a leading multi-technology 'Schedule A' company under the Ministry of Defence, plays a pivotal role in serving India's core sectors, including defence, rail, power, mining, and construction, by offering world-class products.
BEML operates in three verticals: Defence and aerospace, mining and construction, and rail and metro.

Indian Oil's Panipat Refinery Becomes First Sustainable Aviation Fuel Producer in India

Civil Aviation Minister Ram Mohan Naidu Kinjarapu announced that Indian Oil's Panipat Refinery was certified as the country's first Sustainable Aviation Fuel (SAF) producer.
With more such facilities coming up in the country, the country is well on the path to meet the target of 1 per cent SAF blending in all international flights by 2027 and cut our aviation carbon footprint.

Aug 10, 2025

SECI Receives Bid for Supply of Green Ammonia at Rs 55.75/kg

In a boost to India's National Green Hydrogen Mission, the first-ever auction conducted by the Solar Energy Corporation of India (SECI) Ltd for the procurement of green ammonia achieved a record low price discovery of Rs. 55.75 per kg.
This auction covered the supply of 75,000 metric tonnes (MT) per annum of green ammonia to Paradeep Phosphates Limited, Odisha. It is the first in a planned series of 13 auctions over the coming months, under a tender meant for aggregating a cumulative procurement capacity of 7.24 lakh MT per year.
The discovered price Rs. 55.75 per kg translates to approximately $641 per MT, a substantial drop from the previously discovered price of Rs. 100.28 per kg ($1,153 per MT) in the H2Global auction in 2024.

AU Small Finance Bank Becomes First SFB to Get RBI Nod for Universal Bank Status

AU Small Finance Bank (AU) received in-principle approval from the Reserve Bank of India (RBI) to transition into a Universal Bank. This historic development makes AU the first Small Finance Bank (SFB) in the country to receive such a nod, and represents a major milestone in its evolution from a niche financial institution to a full-spectrum banking provider.

Aug 09, 2025

Hinduja Group Appoints Anand Agarwal as Group President - Finance

Hinduja Group appointed Anand Agarwal as Group President – Finance.
Agarwal has nearly three decades of experience and has worked across multiple sectors, including agri inputs, infrastructure (power), FMCG, financial services, cement, metals, and banking payment services.
Agarwal brings significant expertise in corporate finance, treasury, M&A, capital strategy, and investor relations.
Prior to joining Hinduja Group, he served as Chief Financial Officer at Chambal Fertilisers and Chemicals and has held leadership roles at Tata Power, Peepul Capital PE, AGS Transact Technologies, Aditya Birla Group, Reliance Industries, and ITC Limited.

Airbus Appoints Jurgen Westermeier as President, MD for India, South Asia

European aerospace major Airbus appointed Jurgen Westermeier as the President and Managing Director for India and South Asia. He will assume the role on September 1, 2025.
In his new role, Jurgen will spearhead Airbus' business in India and South Asia, across commercial aircraft, defence and space, and helicopters.
He will also be responsible for commercial aircraft sales and for expanding the company's footprint in the region, which includes services, engineering, digital, innovation and training.

Aug 08, 2025

RBI Eases Norms for Trade in Indian Rupee, removes approval requirement for Special Vostro accounts

In a move aimed at further facilitating trade in Indian Rupees, the Reserve Bank of India (RBI) simplified the procedure for opening Special Rupee Vostro Accounts (SRVAs).
As per the revised guidelines issued by the Central Bank, Authorised Dealer (AD) banks will no longer be required to seek prior approval from the Central Bank for opening SRVAs of correspondent foreign banks.
This latest step was taken following a review of the earlier process, which mandated prior approval from the Central Bank for the opening of SRVA.
The SRVA mechanism was first introduced in July 2022 for invoicing and settlement of exports and imports in Indian Rupees.

Paytm Money Partners with JioBlackRock NFOs

Paytm Money, a wholly-owned subsidiary of One97 Communications Limited (OCL) and a wealth-tech platform, partnered with JioBlackRock Asset Management to offer easy access to its five Index Fund New Fund Offers (NFOs), directly through the Paytm Money app.
As a Direct Mutual Fund platform, Paytm Money offers zero commission on mutual fund investments, along with no hidden charges and zero cost on account opening.

Essar Names Amit Bajaj MD, Global Head of Corporate Affairs & Public Policy

The Essar Group hired Amit Bajaj, a former Aditya Birla Group official, as Managing Director, Global Head of Corporate Affairs and Public Policy, marking his return to the group after more than a decade.
Bajaj brings over 25 years of experience in government relations, regulatory strategy and public policy. In his new role, he will oversee global stakeholder engagement and policy advocacy efforts aligned with Essar Group's long-term growth and sustainability goals.

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