General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Jul 27, 2025

RBI Approves Warburg Pincus Investment in IDFC First Bank

The Reserve Bank of India (RBI) granted approval to Warburg Pincus, a prominent global private equity firm, to acquire up to 9.99% stake in IDFC First Bank. The Rs. 4,876 crore investment is expected to enhance the bank's capital base and support its growth ambitions.
The investment proposal was first announced in April 2025 and subsequently received clearance from the Competition Commission of India (CCI) in June 2025. The investment is being routed through Currant Sea Investments B.V., an affiliate of Warburg Pincus.

Jul 26, 2025

Kotak Bank Launches Solitaire to Target India's Growing Affluent Class

The Mumbai-based private lender, Kotak Mahindra Bank, backed by billionaire Uday Kotak launched 'Kotak Solitaire', an offering targeted at salaried customers with Rs. 0.75 crore ($86,786) in relationship value and self-employed clients with Rs. 1 crore.

Comviva Appoints Manish Agrawal as President and Chief Operating Officer

Comviva, a global leader in digital transformation solutions, specialising in customer experience management, data monetisation, and digital financial services, announced the appointment of Manish Agrawal as President and Chief Operating Officer. This strategic leadership announcement marks a significant milestone in the company's Comviva 2.0 journey, aimed at accelerating market growth, deepening customer engagement, and scaling innovation in a rapidly evolving digital ecosystem.

Jul 25, 2025

India and the UK Sign FTA

India and the UK signed their long-awaited Free Trade Agreement, which will boost bilateral trade by around $34 billion annually.
The deal was formalised in presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer.
After the FTA, 99% of Indian exports to the UK would see duties eliminated to zero including for textiles, generic drugs and medical devices, leather goods and agricultural and chemical products.
The deal will also make it easier for British firms to export whisky, cars and other products to India besides boosting the overall trade basket. For India, it's the most significant trade deal the country has ever signed, and shows the South Asian nation's willingness to lower barriers as it seeks to lure investments.
Negotiations for the FTA began in January 2022, and after over three years of talks and several rounds of diplomacy, it was officially signed during PM Narendra Modi's visit to the UK in July 2025.

SBI Adjudged World's Best Consumer Bank 2025 by Global Finance Magazine

The State Bank of India (SBI) was named the World's Best Consumer Bank for 2025 by the reputed Global Finance magazine, recognising the bank's customer-centric innovations and strong digital presence. This global recognition reinforces SBI's commitment to inclusive and modern banking.
SBI, India's largest public sector bank, has consistently worked towards transforming retail banking through technology adoption, rural outreach, and customer convenience.

Jul 24, 2025

PayPal, NPCI Tie up to Integrate UPI for Cross-Border Payments

Global Payments firm PayPal announced a tie-up with National Payments Corporation of India (NPCI) for the integration of UPI on PayPal World's platform for seamless cross-border payments.
This is part of a series of global partnerships unveiled by the company that will connect many of the world's largest payment systems and digital wallets on a single platform, starting with interoperability with PayPal and Venmo.

Fino Payments Bank Launches 'GATI' Savings Account

Fino Payments Bank launched a new digital savings account named 'GATI', a term meaning 'speed' in several Indian languages — with the aim to deepen UPI transaction penetration in rural and semi-urban areas of West Bengal. By offering an affordable, zero-balance account with instant transaction capability, Fino seeks to empower digitally-inclined customers, especially those underserved by traditional banking systems.
Fino Payments Bank has built its presence by leveraging a merchant-based banking model, especially in areas with limited access to formal banking infrastructure. With over 40,000 merchant points in West Bengal, the bank aims to facilitate easier onboarding into the digital financial ecosystem.

Jul 23, 2025

Industry Giant "UNIPACK Corrugated" Enters India's Packaging Market

UniPack Corrugated, a global leader in smart packaging engineering & automation solutions, announced its entry into India's fast growing packaging industry through the strategic acquisition of Congzhou Machinery the leading manufacturer of corrugated board equipment. This move establishes UniPack India as a dedicated entity serving the nation's Rs. 50,000 crore packaging sector with advanced technology and 360° comprehensive support.

Patrik Antoni New CEO of Ikea India as Susanne Pulverer Resigns

Ikea India, part of leading Swedish home furnishings retailer, announced the appointment of Patrik Antoni as its next CEO.
Antoni, whose appointment will be effective from August 2025, will also work as Country Retail Manager & Chief Sustainability Manager (CSO), Ikea India said.
He will replace incumbent Susanne Pulverer, current Country Retail Manager & CSO, who has decided to leave her role at Ikea.
She was associated with Ikea for 28 years and has spent over eight years in India in three stints.

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