General Awareness

BUSINESS AND ECONOMY - July 2021

Jul 2021

Jun 13, 2025

Yes Bank MD & CEO Prashant Kumar Gets 6-month Extension

Yes Bank said that Prashant Kumar, the lender's Managing Director (MD) and Chief Executive Officer (CEO), got a six-month extension from the Reserve Bank of India effective October 6, 2025.
Kumar was first appointed the administrator when Yes Bank was reconstructed by the RBI and the government with the help of a consortium of banks, including State Bank of India. He was later appointed MD & CEO. Kumar has worked as deputy MD and chief financial officer of SBI.

Polygon Appoints Sandeep Nailwal as CEO

Polygon, an L2 blockchain platform, announced the appointment of Sandeep Nailwal as Chief Executive Officer of the Polygon Foundation.
In this role, Nailwal will focus on long-term strategy, oversee key ecosystem initiatives, and ensure that the Polygon Foundation, which supervises Polygon Labs and other entities, decisively steers the project towards exponential growth, sharper focus, and greater value delivery to the Polygon ecosystem, including users, applications, and POL stakers.

Jana Small Finance Bank Applies to RBI for Universal Banking Licence

Jana Small Finance Bank (Jana SFB), one of India's leading small finance banks, submitted an application to the Reserve Bank of India (RBI) seeking approval to transition into a Universal Bank.
This strategic move marks a significant milestone in Jana Bank's growth journey and reflects its long-term commitment to financial inclusion, innovation, and sustainable banking.
According to Ajay Kanwal, Managing Director & CEO, Jana Small Finance Bank, Applying for a Universal Banking license is a natural progression for Jana Bank.

Jun 12, 2025

SBI General Insurance Appoints Mohd. Arif Khan as Deputy CEO

SBI General Insurance, one of India's leading general insurance companies, appointed Mohd. Arif Khan as its Deputy Chief Executive Officer. A seasoned professional with over 25 years of service in the State Bank of India (SBI), Khan brings deep banking and leadership experience that is expected to strengthen the company's strategic and operational capabilities in a rapidly evolving insurance landscape.

PayG Appoints Harmeet Sethi as Chief Executive Officer

PayG, a leading home-grown Indian payment gateway innovating financial infrastructure for MSMEs, SMEs, and retailers, announced the appointment of Harmeet Singh Sethi as its new Chief Executive Officer.
Harmeet brings more than 25 years of leadership experience spanning technology, financial services, and global markets. His career includes high-impact roles across India, North America, the Middle East, and Southeast Asia, where he has led digital transformation, fintech expansion, and enterprise sales initiatives. Over his career, he has helmed transformative initiatives across fintech, digital payments, cross borders payment and financial infrastructure, cultivating strong regulatory-compliant operations and delivering scalable solutions.

Jun 11, 2025

Maharashtra Introduces Geo-Tagged Unique ID for All Infra Projects

The Government of Maharashtra mandated the assignment of a geo-tagged 13-digit alphanumeric unique ID to all infrastructure development projects in the state. This ID will serve as the primary reference once administrative approval is granted. The initiative aims to bring digital uniformity, prevent duplication, and enable real-time tracking of infrastructure projects across departments through the Infra ID portal, with a target to register all projects sanctioned in the last five years by March 2026.

Mumbai Ranks 6th Globally in Under-Construction Data Centre Capacity

Mumbai secured the 6^th position globally among 97 cities in terms of under-construction data centre capacity, as per the latest 'Global Data Center Market Comparison 2025' report by Cushman & Wakefield. With 335 MW of capacity currently being built, the city leads the Asia-Pacific (APAC) region and is poised to boost its operational capacity by 62%. The surge is driven by rising demand from hyperscalers, the rapid expansion of cloud computing and AI-based workloads, and the city's robust digital and power infrastructure.

SEBI Opens Settlement Window for Stock Brokers in Algo Trading Violation Cases

The Securities and Exchange Board of India (SEBI) announced a three-month settlement scheme for stock brokers facing regulatory proceedings for associating with unregulated algorithmic trading (algo) platforms. Open from June 16 to September 16, 2025, the scheme allows brokers to resolve ongoing cases and avoid further litigation. This move follows SEBI's findings that several brokers collaborated with third-party algo platforms offering assured returns, a practice violating market conduct norms.

Jun 10, 2025

Vikas Jain Appointed President of NAREDCO Maharashtra NextGen

Vikas Jain, CEO of Labdhi Lifestyle, was appointed as President of NAREDCO Maharashtra NextGen, the youth-oriented arm of the National Real Estate Development Council (NAREDCO), Maharashtra. A first-generation developer from Mumbai, Jain succeeded Ridham Gada, who assumed the role of Vice-Chairman, NextGen.

Sailesh C. Mehta New Chairman of Fertiliser Association of India

Sailesh C. Mehta, the Managing Director of Deepak Fertilisers and Petrochemicals Corporation Ltd., was appointed the new Chairman of the Fertiliser Association of India (FAI). With over 40 years of experience in the industry, Mehta succeeded N. Suresh Krishnan.
This leadership transition is significant amid India's growing push for balanced fertiliser usage, sustainable agriculture, and increased collaboration between the government and fertiliser industry.

Jun 09, 2025

Sat Pal Bhanoo Takes Interim Charge as LIC MD & CEO for Three Months

The Government of India appointed Sat Pal Bhanoo, currently Managing Director at Life Insurance Corporation of India (LIC), as the interim CEO and Managing Director of the corporation. This decision follows the completion of the tenure of Siddhartha Mohanty, who served as the previous CEO & MD. Bhanoo assumed this key leadership role for a period of three months from June 08, 2025, or until a permanent successor is appointed, whichever occurs earlier.

World's Largest Container Ship MSC IRINA Arrives at Vizhinjam International Seaport

The world's biggest container ship, MSC IRINA, docked at Vizhinjam International Seaport in Kerala, marking a milestone moment for India's newest deepwater port.
The vessel's arrival is the first time a container ship of this size has called at an Indian port, and it puts Vizhinjam firmly on the global shipping map. Built to carry 24,346 TEUs (twenty-foot equivalent units), MSC IRINA holds the record for the highest container capacity in the world.
The port, operated by Adani Ports and SEZ Ltd (APSEZ), is India's first Mega Transshipment Container Terminal. It sits just 10 nautical miles off one of the busiest east-west shipping lanes, connecting Europe, the Persian Gulf, Southeast Asia and the Far East.
At nearly 400 metres long and 61 metres wide, MSC IRINA is nearly four times the length of a football pitch. It can stack containers up to 26 tiers high, and is powered by energy-efficient tech that cuts emissions by around 4%. Flying the Liberian flag, the ship was launched in March 2023 and set out on its maiden voyage a month later.

RBI Raises Gold Loan LTV Ratio to 85% for Loans below Rs. 2.5 Lakh

The Reserve Bank of India (RBI) announced a major revision in its gold loan norms by increasing the loan-to-value (LTV) ratio for loans up to Rs. 2.5 lakh to 85%, effective from April 1, 2026. This decision follows extensive consultations and aims to ease credit access for small-ticket borrowers, while also imposing stricter valuation, documentation, and monitoring frameworks on lenders to tackle the surge in non-performing assets (NPAs) in the gold loan segment.
This move addresses concerns from the Department of Financial Services (DFS) and aims to balance financial inclusion with credit risk management, especially in the wake of rising NPAs in the sector.

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