General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Aug 07, 2025

IDFC FIRST Bank Launches RemitFIRST2India

IDFC FIRST Bank launched RemitFIRST2India, a next-generation digital remittance platform that allows Non-Resident Indians (NRIs) to send money to their families in India quickly, securely, and with zero transfer fees. NRI customers of IDFC FIRST Bank can simply log-in to the Mobile Banking App and make the transaction. For non-IDFC FIRST Bank NRI users, the platform offers a simple, paperless onboarding journey through a dedicated web-portal.
RemitFIRST2 India has been launched in partnership with SingX, a leading remittance provider licensed by Monetary Authority of Singapore, to offer a fully compliant and seamless cross-border payment experience.

IndusInd Bank Appoints Rajiv Anand as New Managing Director and CEO

IndusInd Bank announced the appointment of Rajiv Anand as its new Managing Director (MD) and Chief Executive Officer (CEO). Anand's tenure will begin on August 25, 2025, and continue until August 24, 2028, subject to shareholder approval at the bank's forthcoming general meeting.
The Board of Directors at IndusInd Bank approved the appointment of Rajiv Anand as an Additional Director, designated specifically in the category of MD & CEO for a term of three years.
Rajiv Anand brings significant leadership experience from his prior roles at Axis Bank, India's third-largest private sector bank, Deputy Managing Director, Axis Bank and Led Axis Bank's Wholesale Banking Division, significantly growing its corporate business.

Paytm Goes China-Free as Antfin Fully Exits

In a significant development for India's digital economy and investor sentiment, Jack Ma's Antfin, the Chinese affiliate of Ant Group, completely exited Paytm's parent company One97 Communications. The move eliminates all Chinese ownership from the fintech major, marking a milestone for the company and potentially widening its investor base. Antfin sold its entire 5.84% stake—equivalent to 37.3 million shares—in large bulk deals worth around Rs. 3,803 crore.

Aug 06, 2025

Tata Motors' P. B. Balaji New CEO of Jaguar Land Rover

Jaguar Land Rover (JLR), the luxury automotive arm of Tata Motors, named P. B. Balaji as its new Chief Executive Officer (CEO). He will succeed Adrian Mardell, who is set to retire after an illustrious 35-year career at JLR. The leadership change will take effect on November 17, 2025, marking a new era for the iconic British automaker.
Adrian Mardell, who joined JLR over three decades ago, has been instrumental in guiding the company through its most transformative years. As CEO since 2022, he spearheaded JLR's 'Reimagine' strategy, leading the automaker into a new phase of electrification and sustainability.
Balaji is an alumnus of IIT-Chennai and IIM-Kolkata.
He has over three decades in the automotive and consumer goods sectors, with leadership roles across Mumbai, London, Singapore, and Switzerland.
Since joining in 2017, Balaji has been pivotal in Tata Motors' financial and operational revival, strengthening its global standing.

RBI Keeps Repo Rate Unchanged

The Monetary Policy Committee (MPC) of the Reserve Bank of India kept the repo rate unchanged at 5.5%, maintaining a neutral stance. Consequently, the standing deposit facility (SDF) rate will be at 5.25 per cent and the Marginal Standing Facility (MSF) rate and the Bank Rate at 5.75 per cent. This follows a 100 bps cut since February and comes ahead of the festive season.
The RBI retained its FY26 GDP growth forecast at 6.5% despite US tariffs on Indian imports.

CCI Approves Acquisition of Jaiprakash Associates Limited by Dalmia Cement (Bharat) Limited

The Competition Commission of India approved the acquisition of Jaiprakash Associates Limited by Dalmia Cement (Bharat) Limited.
The proposed combination envisages100% acquisition of Jaiprakash Associates Limited (JAL) by Dalmia Cement (Bharat) Limited (Acquirer) pursuant to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC).
The acquirer is a wholly owned subsidiary of Dalmia Bharat Limited (DBL) which is the ultimate parent entity of the Dalmia Bharat Group.
JAL is engaged in diverse business activities viz., real estate, cement, hospitality, engineering, procurement, & construction (EPC) and is currently undergoing a CIRP under the IBC.

Gautam Adani Redesignated as Non-Executive Chairman of Adani Ports

Adani Ports and Special Economic Zone Ltd (APSEZ) -- part of the Adani Group -- said that billionaire Gautam Adani was redesignated from Executive Chairman to Non-Executive Chairman with immediate effect.
APSEZ said that based on the recommendation of nomination and remuneration committee, the board approved redesignation of Gautam Adani from Executive Chairman to Non-Executive Chairman, and consequently he would cease to be a key managerial personnel of the company.
The company appointed Manish Kejriwal as additional director (Non-Executive, Independent) of the company for an initial term of three years, subject to the approval of shareholders within three months.

Aug 05, 2025

National Medicinal Plants Board, Ministry of Ayush Signs Two Strategic MoUs to Strengthen Conserv...

Two significant Memoranda of Understanding (MoUs) were signed today by the National Medicinal Plants Board (NMPB), Ministry of Ayush, Government of India in the presence of Union Minister of State of Ayush (Independent Charge) and Minister of State for Ministry of Health and Family Welfare, Shri Prataprao Jadhav, at Nirman Bhawan, New Delhi.
The first MoU was signed between the National Medicinal Plants Board (NMPB) and IshVed-Bioplants Venture, Pune, Maharashtra, and the second tripartite MoU was signed among National Medicinal Plants Board (NMPB), All India Institute of Ayurveda (AIIA) and All India Institute of Medical Sciences (AIIMS), New Delhi.

PNB Housing Finance Announces New Leadership Appointments after CEO Resignation

PNB Housing Finance announced key appointments to its senior management team following the resignation of its MD and CEO, Girsh Kousgi. The changes came at a critical time for the mortgage lender, which saw its shares tumble by 18% on the BSE after the announcement.
The company appointed Jatul Anand, a function head, as Executive Director, who will oversee the prime and emerging business, including sales, credit, product, and collections.
Valli Sekar as Chief Business Officer — Affordable Business, tasked with leading the affordable housing vertical, covering the same operational areas.
These appointments aim to maintain continuity and drive the company's strategic priorities amid the transition.

Aug 04, 2025

BSNL and NRL ink MoU to Propel Industry 4.0 Adoption in India

In a move to accelerate India's digital transformation and industrial modernisation, Bharat Sanchar Nigam Limited (BSNL) and Numaligarh Refinery Limited (NRL) have signed a landmark Memorandum of Understanding (MoU) aimed at advancing Industry 4.0 technologies across the country.
The MoU was inked during the "Industry 4.0 Workshop for CPSEs" held under the aegis of the Ministry of Finance in Guwahati. The event saw participation from several senior dignitaries, including the Secretary of the Department of Public Enterprises (DPE), CMD and MD of NRL, Director (Enterprise Business) of BSNL, MD of AMTRON, and other senior officials from the Ministry of Finance and various Central Public Sector Enterprises (CPSEs).

RBI Approves Merger of New India Co-operative Bank with Saraswat Bank

The Reserve Bank of India (RBI) approved the merger of New India Co-operative Bank with Saraswat Co-operative Bank, the largest urban co-operative bank in the country. The merger officially took effect from August 4, 2025.
Last month (July 2025), Saraswat Co-operative Bank had announced its voluntary proposal to merge the beleaguered New India Co-operative Bank with itself.

VinFast Inaugurates its Biggest Showroom in India

VinFast Auto India announced the inauguration of its biggest showroom in India, located in Chennai, Tamil Nadu. The opening marks a significant milestone in VinFast's nationwide retail journey and its growing footprint in India's EV market.
This new showroom reinforces the brand's commitment to building a robust, customer-centric electric mobility ecosystem tailored to the needs of Chennai. This outlet is promoted by Maansarovar Motors, a well-established and trusted name in the city's automotive retail landscape.

Aug 02, 2025

India Post Payments Bank Launches Aadhaar-based Face Authentication for Digital Transactions

The India Post Payments Bank (IPPB) announced the nationwide rollout of Aadhaar-based face authentication for customer transactions, a move aimed at enhancing ease of access and financial inclusion for the elderly, differently-abled and those facing biometric authentication issues.
Developed under the framework of the Unique Identification Authority of India (UIDAI), the feature enables customers to carry out banking services using facial recognition, eliminating the need for physical biometrics like fingerprints or one-time passwords (OTPs).

Banking Laws Amendment Act 2025

The Banking Laws (Amendment) Act, 2025 came into effect from August 1, 2025. In an official gazette notification dated July 29, 2025, the Ministry of Finance said that sections 3, 4, 5, 15, 16, 17, 18, 19 and 20 of the Act will be enforced from the first day of August.
The Banking Laws (Amendment) Act, 2025 was first published on April 15, 2025, after receiving the President's assent. The law amends multiple older banking laws — including the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980.

Hexaware Appoints Shantanu Baruah to Lead Healthcare, Life Sciences, and Insurance Globally

Hexaware Technologies, a global IT solutions company, announced the appointment of Shantanu Baruah as President & Global Head – Healthcare, Life Sciences & Insurance (H&I). He will be based out of the company's New Jersey office and will lead Hexaware's global strategy, growth, and client success initiatives across the vertical.
With over 25 years of experience in the healthcare and life sciences industry, Shantanu brings deep domain expertise and a proven track record of building high-performing teams, driving strategic growth, and leading complex client transformations. Prior to joining Hexaware, he served as Executive Vice President at HCLTech, where he led the Healthcare vertical during one of the industry's most disruptive periods and played a pivotal role in expanding business in the Americas.

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