General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Jul 22, 2025

LIC Signs MoU with Rural Development Ministry to Promote Bima Sakhi Yojana

The Life Insurance Corporation of India (LIC) entered into a significant partnership with the Ministry of Rural Development to promote the Bima Sakhi Yojana, a women-centric insurance distribution initiative. The Memorandum of Understanding (MoU), signed during the 'Anubhuti' Conclave on Financial Inclusion held in Goa, reflects a mutual commitment toward women empowerment, financial inclusion, and enhancing rural livelihoods through structured insurance career opportunities.

RRBs Reduced from 43 to 28 to Simplify Management, Ease of Service Delivery

Finance Minister Nirmala Sitharaman said that the amalgamation of Regional Rural Banks (RRBs) resulted in formation of a state-level RRB with contiguous area of operation leading to simplifying management and ease of service delivery.
In a written reply to a question on the first day of the Parliament's Monsoon Session, FM Sitharaman said that guided by the principle of 'One State-One RRB', the government continued with the process of further consolidation of RRBs in "Phase IV amalgamation" to achieve the benefits of scale efficiency and cost rationalisation, whereby number of RRBs has been reduced from 43 to 28 (with effect from May 1, 2025) in 26 states and 2 UTs.

Jul 21, 2025

India Tops Global Fast Payments

India emerged as the global leader in fast payments, according to a note by the International Monetary Fund titled 'Growing Retail Digital Payments: The Value of Interoperability.'
At the heart of this transformation is the Unified Payments Interface, better known as UPI. It was launched in 2016 by the National Payments Corporation of India.

Jul 19, 2025

Ajay Kumar Shrivastava Appointed Director (Engineering & R&D), HAL

Ajay Kumar Shrivastava officially assumed the role of Director (Engineering and R&D) at Hindustan Aeronautics Limited (HAL), one of India's premier aerospace and defence public sector undertakings. With 37 years of experience in aircraft design and development, Shrivastava's appointment marks a significant move in advancing indigenous aviation capabilities and innovation.
Ajay Shrivastava began his professional journey at HAL in 1988 as a Management Trainee (Technical). Over the decades, he has served in multiple leadership roles including Head of the Aircraft Research & Design Centre (ARDC) and the Transport Aircraft Research & Design Centre (TARDC).

Government Extends NTPC CMD Gurdeep Singh's Tenure till July 2026

The government extended the tenure of Gurdeep Singh as Chairman and Managing Director (CMD) of NTPC by one year.
Singh who was due to retire on July 31, will now lead the power giant for till July-end 2026. NTPC is India's largest power producing entity under Ministry of Power.

Jul 18, 2025

Zepto's Founders Top In Hurun India U30 List 2025

The Hurun India U30 List 2025, released in collaboration with Avendus Wealth, marks a defining moment in India's entrepreneurial journey. Featuring 79 dynamic entrepreneurs aged 30 or below, the list celebrates a generation of self-starters who have built ventures with significant valuations, job creation, and global impact.
Launched as part of the broader "Uth Series" by Hurun and Avendus, this is the first edition focused exclusively on under-30 founders. Entrepreneurs featured must have founded or co-led ventures with a valuation of over $25 million (first-generation) or $50 million (next-generation leaders).
Top-Ranked Founders - Aadit Palicha and Kaivalya Vohra (Zepto)
Youngest Entrepreneur - Kaivalya Vohra (22)
Top Women Founders - Devika Gholap, Ananyashree Birla and Romita Mazumdar

EximPe Gets RBI Approval for Cross-Border Payment Aggregator License

EximPe received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator – Cross Border (PA-CB). This move is expected to bolster cross-border digital transactions and e-commerce trade, particularly in the India-Asia corridor. As cross-border payments become more integral to global trade and digital services, such regulatory approvals mark a shift toward enhanced infrastructure and compliance in the digital economy.

Reliance Retail Acquires Kelvinator

Reliance Retail acquired refrigerator, washing machine manufacturer Kelvinator to broaden its range of offerings in the fast-growing durables market.
By bringing Kelvinator into Reliance's fold, Reliance aims to combine its massive retail network with Kelvinator's legacy of innovation and trusted performance.
Kelvinator, which originated in the early 20th century and became a household name in India in the 1970s and '80s with the tagline "The Coolest One," retains a nostalgic charm with Indian consumers.

Jul 17, 2025

UPI-PayNow Expanded to 13 More Indian Banks Join Cross-Border Remittance Network

National Payments Corporation of India (NPCI) International launched the expanded UPI-PayNow linkage, enhancing cross-border remittance services between India and Singapore. This move is part of a broader initiative supported by the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) to promote secure, real-time, and cost-effective international payments.
In a major step forward, 13 additional Indian banks joined the UPI-PayNow network, taking the total to 19. Banks like HDFC Bank, ICICI Bank, State Bank of India, Bank of Baroda, Punjab National Bank, and Kotak Mahindra Bank are now part of this ecosystem. This expansion allows users from India and Singapore to conduct real-time remittances more broadly and securely.

Revival of Historic Machilipatnam Port

Machilipatnam, an old port city in Andhra Pradesh, is getting a fresh start. A new greenfield port is being built at Manginapudi, and 48% of the construction is already done. The port is expected to start working by the end of 2026, bringing economic growth and job opportunities. This project is important for both Andhra Pradesh and Telangana.
The new port is being built by Megha Engineering and Infrastructure Ltd (MEIL). About 1,250 workers are working day and night in two shifts. According to G. Tulasidas, the project manager, the construction is going well and the port should be ready by late 2026.

Everrenew Energy Appoints Industry Veteran Pankaj Tandon as Chief Executive Officer

Everrenew Energy Private Limited, a leading one-stop project management company for wind, solar, and hybrid projects, including asset management services, announced the appointment of Pankaj Tandon as the Chief Executive Officer, effective immediately. He succeeded Venkatesh R.
With over 30 years of experience in EPC, infrastructure, and international business, Mr. Pankaj has held senior leadership positions at renowned organizations such as Jakson Group, KEC International, and Transrail Lighting. His vast global exposure spans South Asia, Africa, Europe, and Southeast Asia, where he has successfully scaled operations, driven profitability, and built strategic partnerships.

Sabyasachi Couture Appoints Manish Chopra as CEO

Sabyasachi Couture, the iconic Indian luxury fashion house, appointed Manish Chopra, former Shein India executive, as its new CEO. This leadership change came as India's luxury market experiences a strong revival, with domestic labels like Sabyasachi expanding their global presence. The brand, majority-owned by the Aditya Birla Group, is reinforcing its position in the upscale fashion segment through strategic talent acquisition and international growth.

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