General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Jan 14, 2025

Avenue Supermarts Appoints Anshul Asawa as CEO Designate

Avenue Supermarts Limited, which operates the DMart hypermarket chain in India, appointed Unilever's Anshul Asawa as the Managing Director and Chief Executive Officer (CEO) designate with effect from March.
Asawa, an IIT Roorkee and IIM Lucknow alumnus, has played a pivotal role in creating a portfolio and driving demand for Unilever's e-commerce home care segment. He was the company's Global Vice President for digital, e-commerce, and customer development.

INROAD Project: Enhancing Natural Rubber Quality in India's North-East

The INROAD (Indian Natural Rubber Operations for Assisted Development) project in the North East received financial support of Rs. 100 crore for improving the quality of natural rubber.
This initiative focuses on skill development for rubber growers and the establishment of model infrastructure, with support from key players in the tyre industry, demonstrating a unique collaboration between agriculture and manufacturing.
INROAD is a pioneering initiative in the global tyre industry, focusing on improving the quality of natural rubber through direct involvement from tyre manufacturers. The project is financially supported by four major companies – Apollo, Ceat, JK, and MRF. The Rubber Board of India oversees its implementation.

C-DOT and IIT Mandi Sign Agreement for Developing Semiconductor Chip

In a step towards developing Indigenous state-of-the-art next-generation telecommunications technology, the Centre for Development of Telematics (C-DOT), signed an agreement with the Indian Institute of Technology Mandi (IIT Mandi) in collaboration with Indian Institute of Technology Jammu (IIT Jammu), for the development of 'Wideband Spectrum-Sensor ASIC-Chip for Enhancing the Spectrum Utilization'.
According to the Ministry of Communications, the agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications, Government of India.

Jan 13, 2025

Adani Announces Rs. 65K cr Investment in Energy, Cement Projects in Chhattisgarh

Industrialist Gautam Adani called on Chhattisgarh Chief Minister Vishnu Deo Sai and announced an investment of Rs. 65,000 crore in the Adani Group's energy and cement projects in the state.
During the meeting, Adani announced a planned investment of Rs. 60,000 crore to expand the group's power plants in Raipur, Korba and Raigarh in the state. This expansion will enhance Chhattisgarh's total power generation capacity by an additional 6,120 MW.
Additionally, the Adani Group chairman also committed Rs. 5,000 crore for the development and expansion of the group's cement plants in the state.

Barista Coffee Company Collaborates with American Pistachio Growers

Barista Coffee, one of India's leading home-grown coffee chains collaborated with the American Pistachio Growers (APG) to introduce a new range of pistachio-based beverages and desserts. APG is known for their product quality, which is in synonym to what Barista stands for. Innovation has been a key to Barista's success and to launch a product which has a trust value attached creates the desired synergy for the collaboration. The partnership focuses on the premium quality of California-grown pistachios, known for their taste and nutritional benefits, bringing a unique blend of indulgence and wellness to Barista's customers.

India and Mongolia Forge Mining Partnership

India is set to sign a Memorandum of Understanding (MoU) with Mongolia in the areas of geology and exploration, aiming to enhance resource security and diversify supply chains. This agreement follows India's increasing reliance on imports to meet the rising demand for copper and coking coal, essential for power generation, construction, and steelmaking industries.
The MoU will focus on geological studies and exploration activities, facilitating collaboration between Indian and Mongolian entities in the mining sector.

Jan 12, 2025

Piyush Goyal Launches 8th Edition of National Programme for Organic Production

India's total export value of organic farming has the potential to reach Rs. 20,000 crore in the next three years. This was stated by Union Minister of Commerce & Industry, Piyush Goyal during his address at the launch of 8th edition of National Programme for Organic Production (NPOP) at the Bharat Ratna C. Subramaniam Auditorium (NASC Complex), Pusa in New Delhi.

Jan 11, 2025

RBI Lifts Ban on NBFCs Asirvad Micro Finance and DMI Finance

The Reserve Bank of India (RBI) lifted the business restrictions imposed on two non-banking financial companies (NBFCs) – Asirvad Micro Finance Limited and DMI Finance Private Limited.
The restrictions, issued in October 2024, barred these NBFCs from sanctioning and disbursing loans effective from the close of business on October 21, 2024.
Asirvad Micro Finance Limited, a microfinance institution (MFI) registered in Chennai, and DMI Finance Private Limited, an investment and credit company (ICC) based in New Delhi, faced the restrictions due to non-compliance with regulatory guidelines.

Jan 10, 2025

IDFC First Bank Goes Live on Direct Tax Collection System of CBDT

IDFC First Bank announced its integration with Income Tax Portal to collect Direct Tax on behalf of Central Board of Direct Taxes (CBDT), Government of India. The Bank's customers can now benefit from an intuitive, hassle-free payment experience for paying their Direct Taxes, with easy access to downloadable challans, easy payments and instant payment confirmations.
The Bank's customers can use the user-friendly Retail and Corporate Internet Banking platforms of IDFC FIRST Bank, or pay the taxes at any IDFC FIRST Bank branch using Cash, Cheque or Demand Draft.

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