General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

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.

Mar 14, 2025

Binny Bansal Unveils New Venture Opptra to tap consumer Brand Growth

Binny Bansal, the co-founder of Flipkart, came out with a new venture Opptra, a franchising business which aims to help consumer brands expand in Asia markets.
Backed by a team of former Amazon and Flipkart executives, Opptra is building a portfolio of franchising businesses, each with deep category expertise in local markets. It will enable them with centrally-developed technologies and shared global supply-chain infrastructure.

RBI and NCFE Launch Nationwide Campaigns to Boost Financial Literacy

The Reserve Bank of India (RBI) and the National Centre for Financial Education (NCFE) launched nationwide financial literacy campaigns to promote financial awareness and inclusion. These initiatives, implemented under the National Strategy for Financial Education (NSFE), aim to empower diverse sections of society with essential financial knowledge and skills. Special programs are being conducted across different age groups, particularly targeting youth (below 18 years) and senior citizens (above 60 years).

Mar 13, 2025

Canara HSBC Life Insurance Partners with GIC Housing Finance for Home Loan Security

Canara HSBC Life Insurance entered a strategic distribution partnership with GIC Housing Finance Limited to provide enhanced financial security solutions to GICHF's home loan customers. Through this partnership, Canara HSBC Life Insurance will offer its 'Group Asset Secure' product —a comprehensive credit life insurance plan—designed to protect borrowers and their families against loan liabilities in the event of unforeseen circumstances.
The partnership aims to support and enable India's intent and ambition of owning their own homes. With GIC Housing Finance's diversified customer pool, the alliance will unlock a viable financial protection provision for the customers of the company.

Ethisphere Recognises Infosys among 2025 World's Most Ethical Companies® for the Fifth Consecuti...

Infosys, a global leader in next-generation digital services and consulting, received the 2025 World's Most Ethical Companies® recognition by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. Infosys received the honour, for the fifth consecutive year, for demonstrating strong culture of ethics, integrity, ethical governance, and responsible business practices.
Infosys was recognised among 136 honourees spanning across 19 countries and 44 industries and one of only three companies in India to receive this recognition.

RBI Grants One-Year Extension to IndusInd Bank CEO Sumant Kathpalia

The Reserve Bank of India (RBI) granted only a one-year extension to Sumant Kathpalia, Managing Director (MD) and Chief Executive Officer (CEO), IndusInd Bank.
This is despite the bank's Board requesting a three-year reappointment.
This marks the second consecutive time that the RBI has approved a shorter tenure instead of a full three-year term for Kathpalia.

Japanese Automaker Nissan's Chief Executive Steps Down

Japanese automaker Nissan's chief executive, Makoto Uchida, is stepping down after the company reported dismal financial results and its merger talks with Honda collapsed.
Nissan Motor Corp. said that Ivan Espinosa, who is now the company's chief planning officer, will take Uchida's place, effective April 1.

Mar 12, 2025

Vikas Kaushal Appointed as HPCL CMD

The government appointed Vikas Kaushal as the Chairman and Managing Director (CMD) of Hindustan Petroleum Corporation Limited (HPCL) for a tenure of five years. He replaced Rajneesh Narang, who had been serving as the interim CMD since September 1, 2024. Kaushal has over 30 years of experience in energy, oil & gas, and power sectors.
Previously he served as MD & Country Head of Kearney India for five years.
He was twice elected to Kearney's Global Board of Directors, the only Indian considered for the role.

Razorpay Expands into Singapore to Revolutionise Digital Payments

Razorpay, a leading fintech company, officially launched its payment solutions in Singapore, marking its next major expansion after its success in India and Malaysia. The move aligns with Singapore's digital-first economy and growing real-time payments ecosystem. Razorpay aims to simplify cross-border transactions, reduce payment costs, and introduce AI-driven financial tools to empower businesses in Singapore.

Manohar Lal Khattar Opens Global Power Conference GRIDCON 2025

The GRIDCON 2025 — an international conference cum exhibition — at Yashobhoomi, Dwarka, New Delhi concluded on March 11, 2025.
It was inaugurated by Union Minister of Power and Housing and Urban Affairs Manohar Lal Khattar, and organised by Power Grid Corporation of India Limited under the patronage of the Ministry of Power, in association with CIGRE, India.
With the theme 'Innovations in grid resilience', the conference focused on new technologies, infrastructure and smart solutions that can revolutionise the way we generate, transmit, distribute, and consume energy.

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