Bajaj Auto Reappoints Rajiv Bajaj, Invests Rs. 1,500 Crore in Credit Arm
Bajaj Auto has announced the reappointment of Rajiv Bajaj as Managing Director and CEO for another five-year term, effective April 1, 2025. Alongside this leadership decision, the company has infused Rs. 1,500 crore into its wholly-owned subsidiary, Bajaj Auto Credit Ltd (BACL), to support its projected asset growth for the financial year 2025-26. The capital injection aims to enhance BACL's regulatory compliance, capital adequacy, and overall financial stability
RBI and Bank of Mauritius Sign MoU to Promote Trade in Local Currencies
In a significant move to enhance bilateral trade and financial cooperation, the Reserve Bank of India (RBI) and the Bank of Mauritius (BOM) have signed a Memorandum of Understanding (MoU) to facilitate the use of the Indian Rupee (INR) and the Mauritian Rupee (MUR) for cross-border transactions.
The agreement will enable exporters and importers to settle transactions in their respective domestic currencies, reducing costs and improving efficiency. This initiative is expected to strengthen the economic and financial ties between India and Mauritius.
Mar 18, 2025
India's GDP to Reach $5.7 Trillion, Becoming Third Largest by 2028: Morgan Stanley
According to Morgan Stanley, India's GDP is projected to expand to $5.7 trillion by fiscal 2028, making it the third-largest economy in the world, surpassing Germany and Japan. Currently the fifth-largest economy, India is expected to overtake Japan by 2026 to become the fourth-largest. The country's share in global GDP is set to rise from 3.5% in 2023 to 4.5% in 2029, driven by strong macroeconomic policies, improved infrastructure, and a growing consumer market. The report also outlines different growth scenarios, with GDP potentially reaching $10.3 trillion by 2035 in a bullish case.
India is the fifth-largest economy at present after the US, China, Germany, and Japan in 2023. GDP is expected to rise from $3.5 trillion in 2023 to $4.7 trillion in 2026, overtaking Japan to become fourth-largest. By 2028, India will surpass Germany, reaching $5.7 trillion, making it the third-largest economy after the US and China.
Intel Appoints Lip-Bu Tan as CEO: A New Era for Semiconductor Leadership
Intel Corporation (Nasdaq: INTC) has announced the appointment of Lip-Bu Tan as its new Chief Executive Officer (CEO), effective March 18, 2025. This decision marks a significant leadership transition as Tan takes over from Interim Co-CEOs David Zinsner and Michelle (MJ) Johnston Holthaus. He will also rejoin Intel's board of directors after previously stepping down in August 2024.
Lip-Bu Tan, a veteran technology leader with deep experience in the semiconductor industry, has been appointed as Intel's CEO. His appointment comes at a crucial time as Intel looks to regain its competitive edge in the semiconductor market.
ADB Launches "Frontier Seed" to Boost Private Sector Growth and Ocean Impact in the Pacific
The Asian Development Bank (ADB) has launched the Frontier Seed (Pacific) programme to support local businesses, strengthen capital markets, and promote sustainable economic growth in the Pacific region. The initiative focuses on developing local industries and fostering inclusive and resilient economies. Under this programme, ADB has signed $200,000 technical assistance agreements with SeaPAC Pte Ltd, a prawn production company, and Kahuto Pacific, an aerial mapping firm, to help advance their respective industries.
The programme is backed by multiple international partners, including the Ocean Resilience and Coastal Adaptation (ORCA) Trust Fund, the Nordic Development Fund, and the United Kingdom Foreign, Commonwealth and Development Office (FCDO). With an initial commitment of $4 million, the initiative is expected to attract investors, create jobs, and enhance economic resilience in the region.
SBI to Launch Project Finance Unit for AI, Fintech, and E-Commerce
The State Bank of India (SBI), the country's largest public sector bank, is establishing a specialised unit to manage project financing for emerging industries such as artificial intelligence (AI), e-commerce, and fintech. This initiative is part of SBI's broader strategy to diversify its project finance operations beyond traditional infrastructure sectors. The bank aims to complete this project within a year and plans to recruit specialised professionals and appoint an external consultant for its execution.
Mar 17, 2025
LIC, New India Assurance, GIC Re Retain D-SIIs Status for 2024-25
The Insurance Regulatory and Development Authority of India (IRDAI) once again designated Life Insurance Corporation of India (LIC), The New India Assurance Company, and General Insurance Corporation of India (GIC Re) as Domestic Systemically Important Insurers (D-SIIs) for the year 2024-25. These insurers are considered critical to the stability of the Indian financial system due to their size, market importance, and interconnection with the domestic and global economy.
These insurers will be subjected to stricter regulatory measures to ensure financial stability and risk management.
N. Ganapathy Subramaniam Appointed as Chairman of Tata Communications
Tata Communications officially announced the appointment of N. Ganapathy Subramaniam (NGS) as the Chairman of the Board of Directors. This decision follows the recommendation of the Nomination and Remuneration Committee.
N. Ganapathy Subramaniam, widely recognised as NGS, has been an integral part of Tata Consultancy Services (TCS) for an impressive 40 years. He played a pivotal role in the company's growth, stepping down in May 2024 after serving as the Chief Operating Officer (COO) and Executive Director.
The Insurance Regulatory and Development Authority of India (IRDAI) granted Valueattics Reinsurance, backed by Prem Watsa and Kamesh Goyal, the first private reinsurance license in India. This development marks a significant step towards fostering competition in the reinsurance sector. So long GIC Re, a public-sector entity, was the only player in the field. The approval was granted during Debasish Panda's final board meeting as IRDAI Chairperson.
Mar 16, 2025
L&T Signs Pact with ACWA Power to Build Desalination Plant in Saudi Arabia
Larsen & Toubro (L&T) entered into a pact with ACWA Power, a developer in the Middle East, to build a desalination plant in Saudi Arabia.
The water and effluent treatment business of L&T won the order in a joint venture with Lantania of Spain.
The project's scope includes design, procurement, construction, testing and commissioning of a seawater reverse osmosis desalination plant, L&T said in a statement.
The plant will serve as a drinking water source for Makkah Al-Mukarramah and Al-Baha regions, benefiting about one million population.
This is the second desalination order that L&T has received in Saudi Arabia in the recent past and it strengthens the company's presence in the Middle East.
Mar 15, 2025
TCS Appoints Sudeep Kunnumal as CHRO
India's largest IT services firm, Tata Consultancy Services (TCS), appointed Sudeep Kunnumal as Chief Human Resources Officer (CHRO).
Kunnumal, has been associated with TCS since 2000, took over at a time when hiring across the IT sector remains subdued due to slow demand and weak macroeconomic conditions.
India Becomes the Top Source of FDI into Dubai
India emerged as the leading source of Foreign Direct Investment (FDI) into Dubai, surpassing the United States, France, and the United Kingdom in 2024. Dubai retained its position as the world's top destination for Greenfield FDI projects for the fourth consecutive year, as per Financial Times Ltd.'s 'fDi Markets' data. The city's business-friendly environment, tax policies, and infrastructure have attracted a surge in investments and talent, making it a global hub for foreign investments.
+91-85588-96644
