General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Mar 05, 2025

Indian Overseas Bank CII Indian Green Building Council Ink Pact

Public sector Indian Overseas Bank signed a memorandum of understanding with the Confederation of Indian Industry - Indian Green Building Council, to provide accessible and affordable financing solutions for developers and home buyers.
As per the collaboration, Indian Overseas Bank would offer preferential financing options to developers engaged in construction of IGBC-rated green buildings. The bank would also provide tailored financial support to home buyers purchasing residential units in the IGBC - certified projects.
This partnership with IGBC is a significant step toward ensuring that green buildings are not just an aspiration but a viable and affordable reality.

ICICI Prudential Launches 'Pru GIFT Select' for Guaranteed Income

ICICI Prudential Life Insurance unveiled a new long-term savings product, ICICI Pru GIFT Select, aimed at providing customers with guaranteed immediate income to navigate the uncertainties of the current market. The plan offers multiple benefits, including guaranteed returns, wealth preservation, and an inflation-adjusted increasing income option.
ICICI Pru GIFT Select enables customers to customise their income by choosing the start date, duration, and amount of their guaranteed payouts. Additionally, the plan includes a life cover component, ensuring financial security for policyholders and their families.

Tata Motors Begins India's First Hydrogen Truck Trials for Net-zero Goal

In a landmark development towards India's vision of achieving net-zero emissions by 2070, Tata Motors, the country's largest commercial vehicle manufacturer, launched the first-ever trials of hydrogen-powered heavy-duty trucks.
The trial phase will span up to 24 months and involves the deployment of 16 advanced hydrogen-powered vehicles with varying configurations and payload capacities. These trucks, equipped with new-age hydrogen internal combustion engines (H2-ICE) and fuel cell (H2-FCEV) technologies, will be tested on India's most prominent freight routes, including those around Mumbai, Pune, Delhi-NCR, Surat, Vadodara, Jamshedpur, and Kalinganagar.

Mar 04, 2025

L&T Secures New Power Transmission Orders in India, Overseas

Larsen & Toubro's (L&T) Power Transmission & Distribution (PT&D) vertical secured multiple significant contracts for infrastructure projects in India and international markets. The new orders reinforce its role in developing global power networks.
In India, L&T was awarded a contract to build 765kV and 400kV transmission lines linked to a Renewable Energy Zone in Uttar Pradesh. Additionally, the company has secured an order for the turnkey construction of a 400kV transmission line in southern India, intended to evacuate power from a non-fossil fuel-based power plant.
Internationally, L&T received an order in Saudi Arabia for a 380kV Gas Insulated Substation (GIS), which will include the installation of associated reactors and hybrid GIS bays. In Abu Dhabi, the company has been contracted to develop a new 220/33kV grid station along with other related infrastructure.
These contracts highlight L&T's continued partnerships with key clients and its contribution to the expansion of power infrastructure across various regions.

IRCTC and IRFC Get the 'Navratna' Tag from Centre

The Government of India elevated the Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) to the esteemed Navratna status among Central Public Sector Enterprises (CPSEs).
This upgrade makes IRCTC and IRFC the 25^th and 26^th companies to receive Navratna recognition, marking a significant achievement for the Indian Railways.
The Navratna status provides these enterprises with enhanced financial autonomy, enabling them to invest up to Rs. 1,000 crore without requiring prior government approval.

City Union Bank Partners with Chennai Super Kings to Launch Co-Branded Credit Card

City Union Bank (CUB) announced a strategic partnership with Chennai Super Kings (CSK) to introduce an exclusive co-branded credit card. This collaboration aims to offer CSK fans a unique financial product that enhances their purchasing experience while allowing them to showcase their team spirit. The City Union Bank – Chennai Super Kings Co-Branded Credit Card is designed to provide customers with exciting rewards, exclusive offers, and memorable cricket-related experiences.
The partnership between City Union Bank and Chennai Super Kings marks a major milestone in the intersection of banking and sports. By combining financial services with cricket fandom, this co-branded credit card provides a seamless way for CSK supporters to celebrate their love for the team while enjoying financial benefits. This initiative aims to increase fan engagement and offer them an additional way to express their loyalty to the franchise.

Mar 03, 2025

RBI Imposes Penalty on Hongkong and Shanghai Banking Corporation

The RBI imposed a penalty of Rs. 66.6 lakh on The Hongkong and Shanghai Banking Corporation Limited for non-compliance with certain directions including those related to 'Know Your Customer' and 'Interest Rates on Deposits'. A penalty of Rs. 33.1 lakh was also imposed on IIFL Samasta Finance Limited for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016' and Know Your Customer (KYC) Directions.

PwC India Launches Programme to Mentor 15 start-ups in Blockchain, AI

PwC India announced the launch of its first-ever start-up accelerator programme 'Emerging Tech Start-up Challenge' geared to empower start-ups in the emerging technology space to refine their solutions and bolster market penetration.
The accelerator programme is aimed at driving innovation and supporting India's vibrant start-up ecosystem by providing mentorship, consulting expertise, and strategic guidance.

Mar 02, 2025

SEBI Launches Bond Central: A Centralised Database for Corporate Bonds

The Securities and Exchange Board of India (SEBI) introduced a centralised database portal named Bond Central to enhance transparency and streamline access to corporate bond-related information. This initiative aims to create a single, authentic source of information on corporate bonds issued in India, benefiting investors and other market participants.
The Bond Central portal has been developed through a collaboration between Online Bond Platform Providers (OBPP) Association and Market Infrastructure Institutions (MIIs), which include stock exchanges and depositories. The portal is intended to serve as an information repository for the public and is accessible free of cost.

Mar 01, 2025

Fashion Business Summit 2025

The Fashion Business Summit 2025, hosted by renowned fashion business coach Harvi Shah, concluded on a high note at Courtyard by Marriott, Mumbai International Airport. This two-day power-packed event brought together some of the most influential minds in fashion, entrepreneurship, and personal development, offering invaluable insights to aspiring and established fashionpreneurs alike.
This summit was designed to bridge the gap between fashion entrepreneurship and business acumen.

Flipkart-Backed super.money Acquires BharatX for Growth

Flipkart-backed UPI platform super.money acquired BharatX, a checkout financing platform, in an all-cash deal. The acquisition will strengthen super.money's position in India's growing digital credit market, particularly in checkout financing. With this acquisition, super.money aims to leverage BharatX's technology stack to enhance credit-on-UPI solutions. The deal also brings BharatX's core team to super.money, with an evaluation planned after six months. The move came as competition in the checkout financing segment has reduced, making it an opportune time for new product development.

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