General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Feb 28, 2025

Yes Bank Leads S&P Global Sustainability Rankings 2025

Yes Bank emerged as India's highest-rated bank in sustainability for the third consecutive year, as per the S&P Global Corporate Sustainability Assessment (CSA) 2024 and the Carbon Disclosure Project (CDP).
With a CSA score of 72/100, Yes Bank is the only Indian bank featured in the S&P Global Sustainability Yearbook 2025, which recognises the top 15% of global banking leaders based on ESG performance. The bank also retained its A- (Leadership Band) rating from CDP, highlighting its strong climate risk management and disclosure practices.

Mahindra SA Inks MoU to Explore Auto Production Feasibility in South Africa

Mahindra South Africa, the local subsidiary of the Indian automative giant, signed a Memorandum of Understanding with the Industrial Development Corporation (IDC) to undertake an in-depth feasibility study on the potential establishment of a Completely Knocked Down (CKD) vehicle assembly facility in the country.
Mahindra South Africa is also in the process of increasing its productive capacity at its assembly facility operation by AIH Logistics in KwaZulu-Natal province as it enters a third decade in the country, which it often refers to as "Mahindra's second home."

Tuhin Kanta Pandey Appointed New SEBI Chairman

IAS Tuhin Kanta Pandey was appointed new SEBI Chairman. The 1987-batch officer from Odisha cadre replaced Madhabi Puri Buch, whose three-year tenure ended in February 2025.
Pandey holds a Masters in Economics from Panjab University, Chandigarh and an MBA from the University of Birmingham (UK).
Pandey was serving as the Secretary, Department of Revenue, Ministry of Finance and the Finance secretary before this appointment. Previously, he held the charge of Secretary of three Departments– Department of Investment & Public Asset Management (DIPAM), Department of Public Enterprises (DPE) and Department of Personnel and Training.

Feb 27, 2025

RBI Raises Small Loan Limit for UCBs to Rs. 3 Crore

The Reserve Bank of India (RBI) revised the small-value loan ceiling for Urban Co-operative Banks (UCBs), increasing it to Rs. 3 crore per borrower. This change is part of a broader initiative to redefine small-value loans and strengthen the financial stability of UCBs. While the new cap allows greater lending flexibility, RBI retained existing conditions, timelines, and prudential norms to ensure responsible credit allocation.

Muthoot Finance Gets RBI Nod to Open 115 New Branches

Muthoot Finance, India's leading gold loan non-banking financial company (NBFC), has secured approval from the Reserve Bank of India (RBI) to expand its branch network by adding 115 new branches across the country.
This expansion aligns with the company's focus on reaching more customers, particularly in underbanked and underserved regions. By increasing its physical presence, Muthoot Finance aims to strengthen its foothold in the gold loan segment and provide better access to financial services.

Canara HSBC Life Insurance Introduces 'Promise2Protect'

Canara HSBC Life Insurance unveiled its latest offering, Promise2Protect, as part of its commitment to deliver all-encompassing financial security solutions to a wide range of customers. This new term insurance plan is thoughtfully designed to provide robust protection against life's uncertainties, offering a wide range of flexible benefits to meet the differentiated needs of customers. With its customisable options, Promise2Protect ensures that policyholders can safeguard their families' financial future while aligning with their individual preferences and life goals.
Promise2Protect offers two variants- Life Secure and Life Secure with Return of Premium. Life Secure offers pure protection, securing the financial future of loved ones in the event of an unfortunate occurrence. Life Secure with Return of Premium provides the added benefit of refunding the premiums paid if no claims are made during the policy term.

SIDBI Signs MoU with Tata Capital Limited to Strengthen Financing Avenues for MSMEs

Small Industries Development Bank of India (SIDBI) and Tata Capital Limited (TCL) signed an MoU for "Partnership for financing MSMEs."
According to SIDBI, the focus is on the growth and development of the MSME ecosystem by way of providing funding avenues in the field of machinery/equipment financing, working capital/CC/OD/business loans, and loans against property, etc.
The MoU was signed by Vivek Kumar Malhotra, Chief General Manager, SIDBI and Vivek Chopra, Chief Operating Officer, of Retail Finance, TCL in the presence of senior SIDBI and TCL officials.
Since its formation in 1990, SIDBI acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities.

DPIIT and Paytm Join Hands to Drive Innovation and Scale India's Manufacturing & Fintech Start-up...

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has entered into a landmark partnership with fintech leader Paytm (One97 Communications Limited) through a Memorandum of Understanding (MoU) poised to boost hardware manufacturing and knowledge enhancement within India's blooming fintech start-up ecosystem.
As part of this collaboration, Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to start-ups, helping them scale and innovate. This initiative aims to equip entrepreneurs with essential resources, enhancing their ability to develop cutting-edge payment and financial technology solutions.

Axis Bank Hosts 9th Evolve Edition

Axis Bank hosted the 9th edition of its knowledge-sharing seminar, Evolve, to help Micro, Small, and Medium Enterprises (MSMEs) adapt to the changing business landscape. This year's theme, "Future-Proofing MSMEs for the New-Age Business," highlighted the need for digital transformation, innovation, and operational resilience. The initiative aims to equip entrepreneurs with practical insights and strategies to strengthen their businesses in an evolving market.
Since its launch in 2014, Axis Bank's Evolve program has impacted over 9,000 entrepreneurs across 50+ cities. The 9th edition was held in 10 major cities, including Delhi, Mumbai, Lucknow, Kolkata, Chennai, Hyderabad, Bangalore, Kochi, Indore, and Ahmedabad.

Feb 26, 2025

Unilever CEO Hein Schumacher Steps Down; Fernando Fernandez Appointed Successor

FMCG-giant Unilever, a leading consumer goods giant, announced a significant change in its leadership, Hein Schumacher, who has been the CEO since July 2023, will step down on March 1, 2025. His replacement is Fernando Fernandez, the current CFO of the company. This transition is set to take place by mutual agreement, with Schumacher leaving the company officially by May 31, 2025.
Fernandez has a proven track record of success at Unilever, previously serving as President of Beauty & Wellbeing and leading high-performing markets in Latin America, Brazil, and the Philippines.

RBI to Inject $10 Billion through Forex Swap to Ease Liquidity Crunch

The Reserve Bank of India (RBI) announced a $10 billion foreign exchange (forex) swap to inject liquidity into the banking system and address the prevailing cash crunch. The three-year swap auction is scheduled for February 28, 2025. This move follows a previous $5 billion forex swap last month, highlighting the central bank's commitment to stabilising liquidity. The banking sector has been facing one of the worst liquidity shortfalls in over a decade, partly due to RBI's aggressive dollar sales to shield the rupee from volatility.

IndusInd Bank Becomes Official Banking Partner of PGTI

IndusInd Bank announced its partnership with the Professional Golf Tour of India (PGTI) as its official Banking Partner. This collaboration aims to enhance the banking experience for Ultra High Net Worth Individuals (UHNIs) and High Net Worth Individuals (HNIs) under the PIONEER banking program. The partnership aligns with IndusInd Bank's commitment to integrating lifestyle experiences with premium banking services, particularly in the field of sports.

Feb 25, 2025

RBI Fines Citibank, Asirvad Micro Finance, and JM Financial for Violations

The Reserve Bank of India (RBI) imposed monetary penalties on Citibank N.A., Asirvad Micro Finance, and JM Financial Home Loans for failing to comply with key regulatory norms. According to the central bank, these financial institutions were found violating guidelines related to large exposures, credit information reporting, and disclosure requirements. The penalties were issued following an inspection of their financial positions as of March 31, 2023.
Citibank N.A. was fined Rs. 39 lakh by the RBI for violating the 'Large Exposures' framework. The bank failed to report breaches within the required timeframe and delayed uploading corrected data to Credit Information Companies (CICs).
Asirvad Micro Finance faced a penalty of Rs. 6.20 lakh for multiple infractions. The RBI noted that the company failed to report the household incomes of certain borrowers to CICs, which is a key requirement for financial transparency. Additionally, some gold loan customers were not provided with the necessary factsheets, a violation of lending disclosure norms.
JM Financial Home Loans was penalised Rs. 1.50 lakh for not disclosing crucial loan details to its customers. The RBI found that the company failed to explain its risk gradation methodology and did not clarify the reasons for charging different interest rates to borrowers in various categories.

FMCG Major Adani Wilmar Changes Name to AWL Agri Business Limited

Adani Group's FMCG unit, Adani Wilmar, changed its name to AWL Agri Business Limited. This came after securing an approval from its shareholders.
The rebranding aims to align the company's identity with its core business activities and future growth prospects in the agri-business industry. The decision, which marks a significant shift for the company, reflects its expanded focus on the agriculture and food sector.

Bajaj Allianz Life Launches Bima-ASBA, a First in India

Bajaj Allianz Life Insurance Company (BALIC) introduced the Bima-Application Supported by Blocked Amount (Bima-ASBA) facility, making it the first insurer in India to adopt this new payment method. The initiative, introduced by the Insurance Regulatory and Development Authority of India (IRDAI), aims to enhance transparency and convenience in premium payments. Bima-ASBA allows policyholders to block a specific premium amount in their bank accounts, ensuring better financial security and control. This move aligns with IRDAI's broader goal of increasing insurance accessibility and simplifying transactions for customers.
Under this IRDAI initiative, policyholders can opt for UPI's One-Time Mandate (OTM) and authorise the blocking of a specified amount (up to Rs. 2 lakh) in their bank account via UPI. The amount will be debited only after the insurance company completes the underwriting process and decides to accept the proposal.

Feb 24, 2025

Invest MP Global Investor Summit 2025 in Bhopal

Madhya Pradesh capital, Bhopal, hosted the "Invest MP Global Investor Summit" (GIS) 2025.
The summit aimed to showcase the state's vast investment potential and bring together global and domestic investors.
The state government invited entrepreneurs from 60 countries to explore investment opportunities in Madhya Pradesh.
The summit witnessed the participation of ambassadors, High Commissioners, and several Consul Generals from key strategic nations, further strengthening international business ties.

Coal India Forms Joint Venture with French Subsidiary Company for Renewable Energy Projects

Coal India Limited signed an agreement with EDF India Private Limited to form a joint venture.
The joint venture will undertake PSP projects along with other renewable energy projects in India and neighbouring countries.
EDF India Private Limited is a wholly-owned subsidiary of Electricite de France SA (EDF). Electricite de France SA is an energy solutions providing company.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

July GK, June GK, May GK, INTERNATIONAL AFFAIRS, ENVIRONMENT, BUSINESS AND ECONOMY, SCIENCE & TECHNOLOGY, SPORTS, NATIONAL AFFAIRS, DEFENCE, PERSONS IN NEWS, DAYS AND EVENTS, AWARDS AND HONOURS, GOVERNMENT POLICIES AND SCHEMES, GENDER/ HEALTH/ EDUCATION, ART AND CULTURE, BOOKS AND AUTHORS, TOURISM AND HOTEL INDUSTRY AWARENESS, ART AND CULTURE, LAW AND CONSTITUTIONAL AFFAIRS

Start Discussion

On any topic

Take Tests

Compiled from GK updates

Login

Sign Up

Forgot Password

Download TCY App

Unlock All Services And Enjoy The Premium Benefits

US$ 10

US$ 13

US$ 15

US$ 17

US$ 19

US$ 20

US$ 21

US$ 22

US$ 23

US$ 24

US$ 25

US$ 26