General Awareness

BUSINESS AND ECONOMY - July 2020

Jul 2020

Sep 27, 2026

Banks brace for strike; SBI issues advisory on possible service disruptions

Ahead of the UFBU strike, State Bank of India issued an advisory about potential service disruptions during the 28–30 September 2026 window. The advisory asks customers to plan ahead for essential transactions and to use digital banking channels where possible. The move aligns with other banks preparing contingency measures to maintain operations. The strike is part of ongoing negotiations on a five-day banking week and related wage issues. Regulators and the government have urged calm and continuity of services to minimize inconvenience for citizens and businesses.

SBI advisory issued for 28–30 Sep 2026.
Digital banking encouraged to reduce disruption.
Strike tied to broader five-day banking week demand.
Regulators urge service continuity.

UFBU bank strike set for 28–30 September 2026; banks prepare contingency plans

The United Forum of Bank Unions (UFBU) has announced a three-day nationwide bank strike from 28 to 30 September 2026, with a potential for further action if negotiations do not progress. Several banks, including the State Bank of India, have issued advisories for customers about possible disruptions to branches and some digital services. In response, authorities have asked banks to ensure essential services and to mitigate customer impact. A five-day banking week remains a central demand accompanying broader wage and working-condition considerations. Industry experts warn the disruption could affect retail transactions and corporate payments across the country.

Strike dates: 28–30 September 2026.
Organizer: UFBU (bank unions).
Bank advisories warn of service disruptions.
Main demand: five-day banking week.

ICICI Prudential Life Insurance renamed to ICICI Life Insurance Limited; ROC approves

ICICI Prudential Life Insurance Company Limited has renamed its corporate entity to ICICI Life Insurance Limited. The Registrar of Companies, Central Processing Centre under the Ministry of Corporate Affairs approved the name change with effect from 22 September 2026. The company has informed stock exchanges, depositories, its registrar and share transfer agent, and other regulatory authorities about the new name. The rebranding aligns the brand with the post-reclassification promoter structure and the company’s new identity. The legal entity will continue to offer existing life insurance products and services. It will complete all required updates to branding, legal documents, and listing records in coming weeks, subject to regulatory filings.

Name change approved by RoC effective 22 September 2026.
New corporate name: ICICI Life Insurance Limited.
Regulatory filings and listings to be updated by the company.
Changes align branding with promoter structure.

Sep 26, 2026

Maruti Suzuki commissions first Green Hydrogen electrolyser plant at Manesar, Haryana

On 26 September 2026, Maruti Suzuki India Limited announced the commissioning of its first Green Hydrogen electrolyser plant at the Manesar manufacturing complex in Haryana. The 300-kilowatt facility operates as a pilot to produce green hydrogen and test its use in automobile manufacturing, supporting cleaner energy adoption on the shop floor. The project aligns with wider national and industry efforts to reduce emissions in manufacturing and mobility. The electrolyser splits water into hydrogen and oxygen using renewable electricity, enabling potential future integration with production lines or hydrogen-powered processes in the plant. Company officials noted the plant's role as a learning platform for scalable, carbon-free manufacturing technologies.

Location: Maruti Suzuki's Manesar facility, Haryana; capacity 300 kW green hydrogen electrolyser.
Purpose: pilot project to produce and test green hydrogen in automobile manufacturing.
Significance: supports cleaner energy adoption and emissions reduction on the shop floor.
Technology: electrolyser splits water into hydrogen and oxygen using renewable electricity.
Outlook: potential future integration with production lines and hydrogen-powered processes; represents a learning platform for scalable technologies.

Sep 24, 2026

Premier Energies commissions 7 GW solar cell facility in Andhra Pradesh

Premier Energies has commissioned a major solar cell manufacturing facility at Naidupeta, Andhra Pradesh. The plant has a capacity of 7 GW and produces N-type TOPCon solar cells. With this expansion, the company’s total solar cell manufacturing capacity rises from 3.6 GW to 10.6 GW, placing it among the largest such capacities in India. The project supports domestic solar production, job creation, and the government’s renewable energy push. Experts say the facility strengthens supply chains for modules and solar components and boosts India’s potential for solar exports and energy security.

Location: Naidupeta, Andhra Pradesh.
New capacity: 7 GW; total capacity now 10.6 GW.
Technology: N-type TOPCon cells.
Industry impact: strengthens domestic solar supply chains.
Policy context: supports India's renewable energy goals.
Economic effect: potential for job creation and exports.

Sep 23, 2026

PhonePe receives UAE Central Bank approval for licences

Indian fintech company PhonePe received in-principle approval from the Central Bank of the United Arab Emirates in September 2026 for two payment licences. The licences cover Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF). The approval enables PhonePe to offer its payment services in the UAE within the regulatory framework, expanding cross-border digital payments between India and the United Arab Emirates. Company officials said the move aligns with growing fintech ties in the region and supports broader access for customers and merchants. The decision is a significant milestone in PhonePe's international expansion strategy.

In-principle UAE Central Bank approval in September 2026.
Licences: Retail Payment Services and Card Schemes; SVF.
Allows PhonePe to operate in UAE under local regulations.
Expands cross-border digital payments between India and UAE.
Viewed as a milestone in PhonePe’s international growth.

Sagarmala Finance to launch India's first blue bond

The Sagarmala Finance Corporation announced plans to launch India's first blue bond on 28 September 2026. The Rs 600 crore issue includes a greenshoe option of Rs 500 crore and has a tenor of ten years. The bond will fund maritime sector lending, greenfield port projects, and coastal road development. Proceeds are expected to support port modernization, coastal infrastructure, and environmental sustainability. Regulators and investors anticipate strong interest due to India’s growing coastline and port activity. The issue marks a milestone in sustainable finance for the country, aligning with national goals to boost coastal resilience, create jobs, and attract private investment in logistics.

Blue bond launch scheduled for 28 September 2026.
Issue size Rs 600 crore; greenshoe option Rs 500 crore.
Tenor: ten years; funds maritime and coastal projects.
Uses include port modernization and environmental measures.
Seen as a milestone in India’s sustainable finance.

Sep 22, 2026

Starbucks to Establish Global Capability Centre in Tamil Nadu

Starbucks Coffee, the US-based company, has signed a Memorandum of Understanding with the Tamil Nadu Government to establish a Global Capability Centre (GCC) in Chennai. The centre is expected to create employment for around 800 technology professionals and to bolster the company’s technology operations in India. The agreement was signed in the presence of Tamil Nadu Chief Minister C. Joseph Vijay and Guidance, the state government’s investment promotion agency. The project highlights Tamil Nadu’s growing status as a technology hub and supports the government’s drive to attract foreign direct investment and high-quality jobs. Starbucks says the GCC will accelerate digital initiatives and drive innovation.

MOU signed to establish a GCC in Chennai.
Projected employment for about 800 technology professionals.
Significant boost to Tamil Nadu’s technology ecosystem.
Centre aims to advance digital initiatives for Starbucks.

ONGC Discovers Natural Gas in Mahanadi Basin

The Oil and Natural Gas Corporation (ONGC) has discovered natural gas in the deep waters of the Mahanadi Basin off India’s east coast. The discovery was made at the MDW-28 (MN-DW18-1-H-D) exploration well, located about 43 kilometres from Konark in Odisha. The well is the first drilled under ONGC’s ongoing deepwater exploration campaign in the basin. The discovery could contribute to energy security and gas supply in eastern India, subject to appraisal and development planning. ONGC will undertake further testing to determine commercial viability, while considering environmental safeguards and coastal impacts, before any development decisions.

Discovery at MDW-28 deepwater well, 43 km from Konark, Odisha.
First deepwater well in ONGC’s Mahanadi Basin campaign.
Potential impact on regional energy supply pending appraisal.
Environmental and coastal considerations will guide next steps.

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