General Awareness

BUSINESS AND ECONOMY - January 2019

Jan 2019

Jul 26, 2023

Tata Steel Reappoints T. V. Narendran as CEO and Managing Director

Tata Steel reappointed T. V. Narendran as MD and CEO for 5 years. Based on the recommendation of the Nomination and Remuneration Committee, the Board considered and unanimously approved the reappointment of T. V. Narendran as the Chief Executive Officer and Managing Director of the Company.
Narendran has over 35 years of experience in the mining and metals industry. Narendran joined Tata Steel in 1988. He was appointed as Managing Director of Tata Steel for India and South East Asia in November 2013.
In October 2017, Tata Steel elevated Narendran as Chief Executive Officer and Managing Director globally.

HCLTech Launches its Global Delivery Centre in Morocco

HCLTech, launched of its global Delivery Centre (GDC) in Rabat, Morocco.
The GDC is HCLTech's first facility in Morocco and is part of the company's nearshore strategy to serve global enterprises.
It will deliver transformation projects to clients across HCLTech's portfolio themes of digital, engineering, cloud, AI and software. The launch further strengthens HCLTech's global network of nearshore locations that have over 23,000 employees working on digital transformation projects for some of the world's biggest companies.
The launch follows the signing of a Memorandum of Understanding between HCLTech and the Government of Morocco in 2022 to invest in the country's technology sector.

TVS Supply Chain Solutions (TVS SCS) Bags Rs. 2,000-crore Deal from U.K.'s Centrica Plc

TVS Supply Chain Solutions (TVS SCS) secured a business deal to transform the supply chain of UK's leading energy services and solutions company Centrica, which also operates British Gas. This deal is for a period of seven years and is expected to be valued about Rs. 2,000 crore.
TVS SCS, which clocked revenues of over $1.2 billion in FY23, will provide its global supply chain expertise and offer a suite of its in-built, state-of-the-art proprietary IT systems and automate the supply chain in line with Centrica's business requirements.
TVS SCS, through its UK operations, manages around 3 million items per day for customers across automotive, beverage, defence, healthcare, rail, and utilities sectors. These clients rely on TVS SCS' ability to create and manage a resilient supply chain that actively mitigates the risk of supply from global disruptions.

Ministry of Textiles Organizes 6th National Conclave on Standards & Regulations for Technical Tex...

After the successful completion of five editions of National Conclave on Standards for Technical Textiles, Federation of Indian Chambers of Commerce and Industry (FICCI) jointly with Ministry of Textiles (MoT) and Bureau of India Standards (BIS) organized the 6th edition of the Conclave at FICCI, Federation House, New Delhi in physical mode.
The primary objective of the conclave was to discuss and understand the state of play in standardization of technical textiles and the way forward. The conclave also looked at the Quality Control Orders (QCOs) which have been issued and which are in the process of being notified shortly as well as mapping of HSN codes with standards and QCOs.
The conclave encompassed all the 12 areas of Technical Textiles. Participation was invited from Indian Army, Indian Navy, DFS, OISD, BSF, BRO, RDSO, NHAI, CSIR, DGHS, CDSCO, PWMAI, ICMR, ICAR, NCPAH, ISO, Horticulture Commission and others among the user industries, members from research institutes & academia and also industry members from all the prominent manufacturers of the Technical Textile products.

Jul 25, 2023

ITC Becomes the most-valued FMCG Stock after 4 Years

ITC, the cigarettes-to-hotels conglomerate surpassed Hindustan Unilever (HUL) and became the most-valuable fast moving consumer goods (FMCG) stock after a gap of more than four years.
ITC, last week, joined the elite group of companies having market valuation in excess of Rs. 6 trillion. After surpassing HUL in market capitalisation (market cap) ranking, ITC entered into top five most valuable companies list with a market cap of Rs. 6.14 trillion. With Rs. 6.09 trillion market cap HUL slipped to sixth position in the overall ranking.

ReNew Makes Strategic Appointments to its Independent Board of Directors

ReNew Energy Global Plc, a renewable energy company in India, appointed three new non-executive independent directors to its board. The new members are Paula Gold-Williams, Nicoletta Giadrossi, and Philip Graham New, and their appointments are effective from August 23, 2023, subject to approval by the company's shareholders at the annual general meeting.
One of ReNew's primary goals is to promote diversity and inclusion, and the addition of more women directors to the board is a significant step in this direction. The company is committed to maintaining a majority of independent directors on its board.

Chhattisgarh Government Signs Agreement with Tata Technologies

The Chhattisgarh government signed an agreement worth Rs. 1,188.36 crore with Tata Technologies for transforming 36 government Industrial Training Institutes (ITIs) into an Industry 4.0 Technology Hub.
Under the agreement, Tata Technologies will offer six new trades and 23 new short-term courses in the 36 ITIs, with state-of-the-art technical workshops and trainer arrangements, a state government spokesperson said. The company will also provide two trainers.
The project aims to train over 10,000 youth annually in advanced skills, fostering better employment opportunities and will also provide employment opportunities to the skilled youth.
The Memorandum of Understanding (MoU) was signed by Awanish Sharan, the director of skill development, technical education and employment department, and Pawan Bhageria, president of Tata Technologies Limited, in the presence of Chief Minister Bhupesh Baghel.

Jindal Aluminium Limited Receives AS9100D Aerospace Certification

Jindal Aluminium Ltd received a special certification called AS 9100D Aerospace. This certification recognises the company as a qualified manufacturer for the aviation, space, and defence industry.
The aerospace & defence industry places a strong emphasis on safety and quality. Standardisation and thorough research are essential factors in this sector. For a company to supply materials to aerospace & defence companies or partners, they need to meet certain prerequisites.
The AS9100D certification is a global recognition of Jindal Aluminium standards and practices, making it a significant achievement.
This certification was developed by the Society of Automotive Engineers and the European Association of Aerospace Industries and has become a benchmark for ensuring exceptional quality in aviation, space, and defence manufacturing and supply chain processes.
To earn this certification, Jindal Aluminium went through a two-stage audit process conducted by M/s NVT Services, an aerospace certification agency in India, over the course of six months (from January to June).

Jul 24, 2023

Go First's Flight Resumption Plan Gets DGCA Approval

The Directorate General of Civil Aviation (DGCA) accepted the proposed resumption plan by the Go First airline. In a letter to Resolution Professional (RP) and Accountable Manager of Go First, the DGCA said that the airline will have to comply with certain conditions for resumption of operations.
Go First will be required to comply with all applicable regulatory requirements for holding an Air Operator Certificate. It must ensure the continuation of the airworthiness or fitness of all its aircraft engaged in the operations.
The DGCA also stated that none of Go First's aircraft will be deployed for operations without undertaking a satisfactory handling flight. Any change in the company that has any bearing on the resumption plan submitted by the RP must be notified to DGCA.

Jul 23, 2023

Jaguar Land Rover Appoints Mardell as CEO

Tata Motors' wholly-owned subsidiary, Jaguar Land Rover (JLR), announced the appointment of interim boss Adrian Mardell as the Chief Executive Officer (CEO) for a three-year term. The carmaker also made acting chief financial officer Richard Molyneux's role permanent.
Mardell joined JLR in 1990 and has held a variety of positions.

Jul 22, 2023

After France and Singapore, India's UPI Payment Model Reaches Sri Lanka

India's Unified Payments Interface (UPI) technology will now be accepted in neighbouring Sri Lanka. Apart from UPI's acceptance, several agreements were also exchanged between India and Sri Lanka in the presence of Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe in the national capital.
In India, the UPI payments system has become hugely popular for retail digital payments and its adoption is rapidly increasing across the world.

Nivruti Rai New as Managing Director & CEO of Invest India

Former Intel India country head Nivruti Rai joined as the Managing Director and CEO of Invest India. Rai joined Invest India after 29 years at Intel. She led Intel India as country head for seven years.
Invest India is an investment promotion agency, whose aim is to facilitate investors looking to invest in India. It also plays a role in executing the government's flagship initiatives including Make in India, Startup India, and National Single Window System.
Rai is the recipient of the prestigious Nari Shakti Puraskar for her contributions to the field of technology.

Govt. Appoints Sat Pal Bhanoo as Managing Director of Life Insurance Corporation

The government appointed Sat Pal Bhanoo as one of the Managing Directors of Life Insurance Corporation (LIC).
He was appointed in place of Siddhartha Mohanty who was appointed as Chairman of LIC.
Bhanoo's appointment is effective from the date of assumption of charge and up to the date of his superannuation on December 31, 2025 or until further orders, whichever is earlier.

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