General Awareness

BUSINESS AND ECONOMY - December 2018

Dec 2018

Dec 24, 2024

Indian Oil Board Approves Setting up of Yarn Project in Odisha

Indian Oil Corporation's board approved the investment for setting up a yarn project at Bhadrak, Odisha, in a 50:50 joint venture with MCPI Private Ltd.
The project entails the construction of a 900 TPD continuous polymerisation (CP) unit, along with downstream facilities for draw textured yarn (DTY), fully drawn yarn (FDY), polyester chips, and supporting infrastructure. Indian Oil's equity contribution to the joint venture is pegged at Rs. 657.33 crore.

PVR INOX Appoints Chief Sales Officer Sabharwal as Head

Cinema exhibitor PVR INOX Ltd announced a restructuring of its Rs. 600 crore media business, naming Chief Sales Officer Shalu Sabharwal as the leader of initiatives to focus on deepening market connections and driving growth across the country.
Sabharwal will take the lead in making strategic changes to bolster media business by leveraging a team of industry experts who will take charge of business development across India.

Dec 23, 2024

ICICI Bank, Times Internet Launch Premium Metal Credit Card

ICICI Bank and Times Internet launched the 'Times Black ICICI Bank Credit Card,' a super-premium co-branded card aimed at high-net-worth individuals (HNIs) in India. The card combines exclusive benefits, luxury services, and a unique design, marking a step toward redefining luxury for India's affluent customer segment. Powered by Visa, the card provides a range of perks that cater to the sophisticated lifestyle of professionals and wealthy individuals.

Dec 22, 2024

Tata Power and Canara Bank Partner for Rooftop Solar Loans

Tata Power Renewable Energy, a unit of Tata Power, formed a partnership with the state-run Canara Bank to provide affordable financing options for rooftop solar installations. This collaboration is part of the government's PM Surya Ghar Scheme, which aims to accelerate the adoption of rooftop solar systems across India. The initiative will help residential customers access clean energy solutions at lower costs and contribute to India's renewable energy targets.

Dec 21, 2024

Federal Bank Partners with Ecofy to Accelerate Rooftop Solar Financing for MSMEs

Federal Bank, a leading private sector bank in India, announced a strategic partnership with Ecofy, the country's first green-only NBFC backed by Eversource Capital, to empower MSMEs with innovative financing solutions for commercial rooftop solar installations. This collaboration is among the first comprehensive co-lending initiatives aimed at addressing the solar financing needs of the MSME sector.
The program aims to finance 3,600 kW of rooftop solar installations annually, enabling MSMEs to significantly reduce electricity costs while cutting over 2,500 tons of CO2 emissions each year. This initiative supports India's decarbonisation goals and fosters sustainable business practices.

Bank of Baroda Unveils Phygital Branches to Transform Customer Banking Experience

Bank of Baroda (Bank), one of India's leading public sector banks, is launching Phygital branches to redefine the customer experience. These Phygital branches seamlessly integrate physical and digital banking services for customers with self-service kiosks that provide 24/7 Banking, a Video Contact Centre for non-financial services and Universal Service Desks for in-person customer service.
By seamlessly integrating self-service and assisted service models, Bank of Baroda's Phygital branch is a unique banking concept that meets the diverse requirements of customers. The Phygital branches merge the familiarity of brick and mortar establishments with the efficiency of cutting-edge technology.

Dec 20, 2024

Indian REITs Association Appoints Alok Aggarwal as Chairman

The Indian REITs Association (IRA) appointed Alok Aggarwal, Managing Director and Chief Executive Officer of Brookfield India Real Estate Trust, as its new Chairman.
Established in 2023 under the guidance of the Securities and Exchange Board of India (SEBI) the Indian REITs Association is a non-profit trade organisation that supports the growth and development of India's Real Estate Investment Trust (REIT) sector.
Its founding members include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.

Delhi and Bengaluru Lead in India's Crypto Investments as Bitcoin Crosses $100,000 in 2024

Delhi NCR continued to assert its dominance in India's cryptocurrency adoption landscape, maintaining its lead in terms of the value invested. This was followed by the IT hub Bengaluru and Mumbai.
According to the CoinSwitch report, more than 36% of India's total crypto investments are concentrated in the three major metropolitan areas: Delhi (20.1%), Bengaluru (9.6%) and Mumbai (6.5%).
The year 2024 has been a huge year for the global crypto ecosystem, driven by big political and regulatory changes that have sped up mainstream growth.

HSBC Taj Credit Card: A Luxe Partnership for Discerning Travelers

HSBC India partnered with the Indian Hotels Company (IHCL) and launched the HSBC Taj Credit Card, a co-branded luxury card tailored for affluent Indians seeking high-end experiences. This collaboration, in association with Visa, aims to cater to the growing demand for exclusive services, wellness, and travel experiences among India's elite. With its premium offerings, the HSBC Taj Credit Card promises bespoke luxury benefits and is designed to meet the aspirations of the country's wealthy clientele.
This credit card's launch reflects the growth in India's luxury market, with increasing wealth and a shift toward high-end experiences.

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