General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Apr 27, 2025

RBI's Directive to Banks on Migration to '.bank.in' Domain

In a move aimed at enhancing the security of digital banking and combating growing cybersecurity threats, the Reserve Bank of India (RBI) has mandated all banks to transition their existing web domains to the new '.bank.in' domain by October 31, 2025. This directive came in response to the increasing number of frauds in digital payment systems and aims to create a more secure and trusted online banking environment. By adopting this exclusive domain, banks will be able to mitigate cybersecurity risks, such as phishing attacks, and ensure the safety of digital transactions. The RBI has entrusted the Institute for Development and Research in Banking Technology (IDRBT) as the registrar for the new domain, which will be managed under the Ministry of Electronics and Information Technology (MeitY).

Apr 26, 2025

Stacie Sire Appointed as Vice President and Managing Director of Boeing (BIETC)

Global aerospace and defense major Boeing appointed Stacie Sire as the new Vice President and Managing Director (VP & MD) of the Boeing India Engineering & Technology Center (BIETC). In addition, she will also serve as the Chief Engineer for Boeing India. Sire, a Boeing veteran with 28 years of experience, took over from Ahmed Elsherbini, who led the position from April 2021 to January 2025. With extensive experience across aircraft programs such as the 787, 767, and 777, Sire brings a strong leadership and engineering background to her new role, which is critical for Boeing's long-term strategy and growth in India.

Apr 25, 2025

IndiGo Names Ex-FAA Administrator Michael Whitaker as Independent Director

InterGlobe Aviation, the parent of the country's largest airline IndiGo, announced the appointment of former administrator US Federal Aviation Administration (FAA) and pilot Michael Whitaker as an Independent Director.
Whitaker's appointment is subject to regulatory and shareholders' approvals.

Apr 24, 2025

Chhattisgarh Signs MoU with Clothing Manufacturers Association of India to Make State a Textile Hub

The Chhattisgarh government signed a Memorandum of Understanding (MoU) with the Clothing Manufacturers Association of India (CMAI), marking a major step towards transforming the state into a hub for textile and apparel manufacturing.
According to the state government, the agreement is expected to boost economic development and create substantial employment opportunities in the state.

Apr 23, 2025

RBI Deputy Governor T. Rabi Sankar Gets One Year Extension

The central government extended the term of RBI Deputy Governor T. Rabi Sankar for one year, effective May 3, 2025. The Appointments Committee of the Cabinet approved his reappointment for the extended term.
He was appointed as the RBI Deputy Governor in May, 2021 for a period of three years.
He had joined the RBI in 1990 and worked in various positions at the central bank.
He was Executive Director of the Reserve Bank before being elevated to the post of deputy governor.

Campbell Wilson Steps Down as AI Express Chairman

Air India CEO Campbell Wilson stepped down as the Chairman of Air India Express and Air India's Chief Commercial Officer Nipun Aggarwal will assume the chairmanship of the budget airline.
Wilson has been the Chairman of Air India Express since June 2022.

RBI Mandates 2.5% Additional Run-off Factor on Digital Deposits

The Reserve Bank of India (RBI) eased the liquidity coverage ratio (LCR) norms under which the banks will now be required to assign an additional 2.5 per cent run-off factor for digital deposits.
The run-off factor refers to the percentage of deposits that could be withdrawn by depositors in a stress scenario. Internet and Mobile Banking facilities (IMB) includes all facilities such as but not limited to internet banking, mobile banking and Unified Payments Interface (UPI) which enables a customer to digitally transfer funds from their accounts.

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