General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Jan 19, 2025

Prime Minister Modi Inaugurates Bharat Mobility Global Expo 2025

Prime Minister Narendra Modi inaugurated the Bharat Mobility Global Expo 2025, the largest mobility expo in India, which is expected to witness over 100 new launches across automobiles, component products and technologies.
The five-day expo, which concludes on January 22, is being held across three venues: Bharat Mandapam and Yashobhoomi in the national capital and India Expo Centre and Mart, Greater Noida.
Expo will host over 9 concurrent shows, 20+ conferences and pavilions. In addition, the Expo will also feature states sessions to showcase policies and initiatives in the mobility sector to enable collaboration between industry and regional levels.

Jan 18, 2025

Piyush Goyal Launches PRABHAAV Factbook and Start-up Challenge

The 9th Foundation Day of Start-up India, celebrated in New Delhi, marked a significant milestone in India's journey toward becoming a global leader in innovation and entrepreneurship. Union Minister of Commerce & Industry, Piyush Goyal, launched key initiatives, including the PRABHAAV Factbook and the Bharat Start-up Challenge, while emphasising the transformative role of start-ups in shaping India's economic and social landscape. The event highlighted India's achievements in fostering a thriving startup ecosystem, empowering women entrepreneurs, and supporting Tier II and Tier III city start-ups.
Fund of Funds for Startups (FFS), administered by SIDBI, played a pivotal role in mobilising private capital, especially in Tier II and III cities.
PRABHAAV Factbook is a comprehensive guide to India's startup ecosystem achievements (2016-2024), and highlights regional contributions and the growth trajectory of start-ups.

IREDA Finalises JV with SJVN, GMR, and NEP for Hydropower Project in Nepal

State-owned IREDA finalised a joint venture agreement with SJVN, GMR Energy and the Nepal Electricity Authority to set up a 900 megawatt hydropower project in Nepal. The agreement for the 900 MW Upper Karnali hydro-electric project was formalised in New Delhi, in the presence of senior officials from IREDA, SJVN, and GMR Energy.
The joint venture agreement lays out a comprehensive framework for project development, construction, operation, and maintenance under a Build-Own-Operate-Transfer (BOOT) model, with a 25-year project term from the Commercial Operation Date (CoD).

Punjab National Bank, Indian Bank Get New Chief Executive Officers

The government appointed Ashok Chandra as the Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB) and Binod Kumar as the MD and CEO of Indian Bank.
Prior to these appointments, Chandra was an executive director at Canara Bank, while Kumar was an executive director at PNB.
Chandra, who joined Canara Bank as an executive director in November 2022, oversaw various verticals, including digital banking and information technology, strategy and planning, marketing and public relations, financial inclusion, micro, small, and medium enterprises (MSME), retail assets, agriculture, and priority sectors.
Kumar has held various key positions at PNB, including Chief General Manager (Corporate Credit), Zonal Manager, and CEO of PNB Operations at the Dubai International Financial Centre. Kumar began his banking career at PNB as a management trainee in 1994 and was elevated to the position of executive director in November 2022.

Jan 17, 2025

Piyush Goyal Launches National Turmeric Board to Boost India's 'Golden Spice' Industry

In a move to enhance the production and export of turmeric, Union Minister for Commerce and Industry, Piyush Goyal, inaugurated the National Turmeric Board in New Delhi.
Palle Ganga Reddy was appointed as the first Chairperson of the Board, which will be headquartered in Nizamabad,.
The Board will focus on key areas such as research and development, value addition to turmeric products, and promoting awareness of the spice's medicinal and essential properties. It will also work on improving turmeric yield, enhancing logistics and supply chains, and exploring new international markets for turmeric.
Ensuring quality and safety standards for turmeric production and exports will also be a critical aspect of the Board's mandate.

India Ranks among the World's Best in Readiness for Future In-demand Jobs

India ranked 25th in the first Future Skills Index with an overall score of 76.6, released by London-based Quacquarelli Symonds (QS), though it emerged as the second most preferred country under the 'Future of Work' category just behind the US.
The index, which evaluated countries on their readiness to meet evolving job market demands, assesses a country's readiness across four main areas, skills fit, academic readiness, future of work and economic transformation.

Truecaller Appoints Hemant Arora as New Global Head of Its Substantial Ad Sales Business

Truecaller, the leading global communications platform, announced the appointment of Hemant Arora as Vice President, Global Ad Sales Business. With this strategic addition to its leadership team, Truecaller aims to further strengthen its position in the ads business and double down on its largest revenue stream, redefining its global ad sales strategy.
With over 25 years of expertise in driving high-growth revenue strategies and managing global operations, Hemant has consistently delivered transformative results for top-tier media and technology companies such as TikTok, Times Network, Dainik Bhaskar Group, NDTV Media and Discovery Networks South Asia. In his previous role at TikTok, Hemant was heading global accounts for Europe, APAC and METAP regions.

Jan 16, 2025

India's GDP Growth Projected to Reach 6.7% in FY25

India's GDP growth is projected to improve to 6.7% in the fiscal year 2025 (FY25), according to a CRISIL Intelligence report. This anticipated growth follows a moderation to 6.4% in the current fiscal year, down from 8.2% in the previous year.
The report highlights a sustained decline in food inflation, with the Consumer Price Index (CPI) inflation cooling to 5.2% in December from 5.5% in November. Food inflation eased to 8.4% from 9%, while non-food inflation remained stable at 3.1%. This trend is expected to create room for a rate cut by the Reserve Bank of India (RBI) in the coming months.

Jan 15, 2025

SECL Introduces Post-Retirement Benefit Cell

In an initiative aimed at enhancing the welfare of its retired employees, South Eastern Coalfields Limited (SECL), a Chhattisgarh-based subsidiary of Coal India Limited (CIL), launched a Post-Retirement Benefit (PRB) Cell. The cell, designed to provide a single-window solution for retired employees, reflects SECL's commitment to improving the post-retirement experience of its former workforce. The new PRB Cell consolidates various post-retirement services under one roof, ensuring that retirees no longer need to navigate between multiple departments. The initiative also complements 'Mission Sambandh', an ongoing SECL program aimed at fostering better communication and engagement with stakeholders.

DP World, AM Green Ink Pact to Develop Green Fuel Logistics Infra

Green hydrogen and ammonia producer AM Green of the Greenko Group, and global logistics major DP World entered into a pact to develop storage and logistics facilities for 2 million tonnes of green fuel per annum.
"Under the memorandum of understanding (MOU) DP World and AM Green will jointly develop logistics and storage infrastructure to facilitate the global export of 1 million tonnes per annum (MTPA) of green ammonia and 1 MTPA of green methanol," AM Green said in a statement Tuesday morning.
The logistics infrastructure will include developing port infrastructure across AM Green Net-Zero Industrial Clusters to facilitate global exports, creating bunkering infrastructure across Dubai, India, and Southeast Asia for green ammonia and methanol supplied from AM Green plants.

IMGC, GIC Housing Partner to Offer Mortgage Guarantee-backed Home Loans

India Mortgage Guarantee Corporation (IMGC) announced a partnership with GIC Housing Finance Ltd (GICHFL) to offer innovative mortgage guarantee-backed home loan products.
This strategic collaboration aims to introduce innovative mortgage guarantee-backed home loan products to prospective salaried and self-employed home loan customers, specifically designed to enhance accessibility and affordability in the growing housing finance sector.

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