General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Apr 08, 2025

Shaleen Toshniwal is the New Chairman of MATEXIL

Shaleen Toshniwal took charge as the new Chairman of Manmade and Technical Textiles Export Promotion Council (MATEXIL) in place of the outgoing Chairman, Bhadresh Dodhia.
MATEXIL is an Export Promotion Council that promotes Exports of Manmade Fiber Textiles such as Fiber, Yarn, Fabric, made-ups (including Home Textiles) and Technical Textiles.
Shaleen Toshniwal who is the Joint Managing Director of M/S Banswara Syntex Ltd. has over 23 years of experience in the field of Textiles and Clothing Sector and oversees exports of Yarn, Fabrics and Garments at Banswara Syntex Ltd.

Global Finance Names RBI most Innovative Financial Institution Globally

The Reserve Bank of India (RBI) was recognised as the Most Innovative Financial Institution globally in Global Finance's prestigious 2025 Innovators list.
This marks a historic achievement as RBI became the first central bank to win this award.
The award highlights the bank's Unified Lending Interface (ULI), which has significantly enhanced lender data access and credit support, driving greater efficiency and inclusivity in India's financial ecosystem.

Trade Ministry Begins Expanding NAFTA Wing as India Seeks Quick US Tariff Truce

In a bid to strike an early trade deal with the US and potentially sidestep the 26 per cent reciprocal tariffs, the Ministry of Commerce and Industry has stepped up efforts by expanding its NAFTA division, which handles India's bilateral trade with the United States, Canada, and Mexico.
The ministry began assigning new officers to strengthen the NAFTA (North American Free Trade Agreement) division as more coordination officers would help the division manage the workload better. Senior officers nearing the end of their term in the ministry may also see their tenures extended.
A swift deal with the US is crucial for Indian exports, as several countries hit with high reciprocal tariffs—such as Vietnam and Cambodia—have signalled to the US their willingness to slash tariffs on American goods under a trade agreement. The US is also in talks with several other countries that have expressed interest in such deals.

Balaji Nuthalapadi Joins Equitas Small Finance Bank as Executive Director

Private sector lender Equitas Small Finance Bank announced the appointment of Balaji Nuthalapadi as Executive Director Technology and Operations, with immediate effect.
His appointment has been approved by the Reserve Bank of India and the Board of Directors, underscoring the bank's commitment to advancing digital transformation initiatives and driving technology-led customer solutions.

Apr 07, 2025

Government Set To Implement "One State, One RRB"

The Indian government is set to implement the 'One State, One RRB' (Regional Rural Bank) policy to improve operational efficiency, reduce competition, and consolidate the existing 43 RRBs into 28. The Ministry of Finance aims to streamline the functioning of these banks by merging smaller, less efficient ones, with the goal of enhancing their service delivery and cost-effectiveness. This initiative, which is part of a larger consolidation effort, builds on the previous rounds of RRB amalgamation that reduced their numbers from 196 to 43. The policy is expected to improve credit flow, particularly in rural areas, by strengthening RRBs' financial positions and operational frameworks.

Apr 06, 2025

Puma Appoints Arthur Hoeld as CEO and Matthias Bäumer as Chief Commercial Officer

Puma, a sports apparel giant appointed Arthur Hoeld as the new Chairman of the Management Board and CEO, effective July 1, 2025. This appointment follows a mutual agreement between current CEO Arne Freundt and the Supervisory Board for Freundt to step down on April 11, 2025, citing differing views on the company's strategic execution. Freundt will depart Puma after 14 years of service in various leading roles.
Adding to the executive changes, Matthias Bäumer, currently Vice President of PUMA's Business Unit Teamsport, has been appointed as the new Chief Commercial Officer of Puma SE.

BP Chair Helge Lund to Step Down

The chair of BP announced plans to step down from the struggling oil company after growing shareholder opposition derailed its net zero agenda.
The oil company said that Helge Lund planned to leave his post in due course once a successor has joined the board, which would most likely be in 2026.
His decision to step down from the role, which he has held since 2019, came after the board was forced to reverse the company's green agenda to defend it against Elliott, a feared New York hedge fund known for its attempts to shake up listed companies.

Apr 05, 2025

India Post Partners with Nippon India Mutual Fund to Enhance KYC Verification Services

In a move to facilitate the Mutual Fund industry's customer onboarding process, Department of Posts (DoP) signed a Memorandum of Understanding (MoU) with Nippon India Mutual Fund to provide door-to-door KYC verification services for their investors. This partnership aims to streamline the KYC process, ensuring convenience, security, and compliance for investors across India.
The MoU (Memorandum of Understanding) was signed between Ms. Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Post, and Mr. Sundeep Sikka Executive Director & Chief Executive Officer Nippon Life India Asset Management Ltd.

Federal Bank Launches Fed StarBiz Credit Card

Federal Bank launched Fed StarBiz, a credit card designed for business customers. The bank introduced the card in collaboration with NPCI and Visa. The card is available in both RuPay and Visa variants.
The launch marks Federal Bank's entry into the business credit card segment.
The bank plans to introduce more specialised payment solutions in 2025 to cater to different business needs.

SEBI Launches System to Verify Authenticity of Notices and Summons

The Securities and Exchange Board of India (SEBI) launched the Document Number Verification System (SEBI-DNVS) to ensure transparency and verifiability of documents issued by the market regulator.
Anybody who receives any notice, summons, show-cause notice, or letter from SEBI will be able to verify if the document was issued by the regulator.
Such communications will bear an 'outwards number' for the process.
The verification will be possible only after authentication through a one-time password generated on the recipient's mobile number. However, the verification process will not show the contents of the letter or notice.

Apr 04, 2025

Tata Electronics Appoints KC Ang as Head of Chip Production Business

Tata Electronics appointed KC Ang as the President and Head of its foundry business, Tata Semiconductor Manufacturing. He will report to Randhir Thakur, CEO & MD of Tata Electronics. Ang will oversee the company's semiconductor foundry operations and strategic partnerships as it moves towards launching chip manufacturing operations.
KC Ang brings over 30 years of experience in the foundry industry, with expertise in fab start-up, operations, technology transfer and industry relationship management. Before joining Tata Electronics, he worked at Global Foundries for over 15 years, where he held roles including President – Asia and Chairman – China. He has also worked in Malaysia, Germany, the United States and China in various semiconductor industry roles.

Ashok Leyland Partners with Nagaland Rural Bank for Vehicle Financing

Hinduja Group flagship company Ashok Leyland signed a Memorandum of Understanding with Nagaland Rural Bank to provide customised vehicle financing solutions to its customers.
The Memorandum of Understanding would focus on meeting customer needs by providing vehicle loans with monthly repayment plans based on their preferences.

IDFC First Bank Receives Approval to Disburse Pensions to Central Government Employees

IDFC First Bank received authorisation from the Central Pension Accounting Office (CPAO), Government of India, to disburse pensions to central government pensioners.
The bank will facilitate pension payments for retired All India Service Officers, former MPs, retired High Court and Supreme Court judges, ex-Presidents and Vice Presidents, and officials of civil ministries and departments (excluding Railways, Posts, Telecom, and Defence).

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