General Awareness

BUSINESS AND ECONOMY - July 2022

Jul 2022

Mar 12, 2024

IndusInd Bank Launches Indus PayWear, an All-in-one Tokenisable Wearable

IndusInd Bank introduced 'Indus PayWear,' which, in collaboration with Mastercard, boasts to be the country's first all-in-one tokenisable wearables for both debit and credit cards.
As per the company, this offering aims to enable users to tokenise their IndusInd Bank cards onto a chip-enabled wearable device.
Indus PayWear facilitates tap-and-pay transactions at any contactless Point-of-Sale (PoS) terminal globally, eliminating the need for physical cards or payment apps. Users can securely make purchases with ease.
The Indus PayWear range includes three options: a ring, watch clasp, and stickers, catering to diverse customer preferences. The wearables are priced affordably, ranging from Rs. 499 to Rs. 2,999.

India, EFTA Ink Free Trade Agreement

India signed a trade and economic partnership agreement with the European Free Trade Association (EFTA) - a grouping of Switzerland, Norway, Liechtenstein and Iceland - that includes a binding $100-billion investment commitment in the next 15 years.
Commerce and Industry Minister Piyush Goyal described the signing as a 'watershed moment', as it is India's first modern trade pact with a bloc having developed countries.
The agreement has 14 chapters, including trade in goods, rules of origin, intellectual property rights (IPRs), trade in services, investment promotion and cooperation, government procurement, technical barriers to trade and trade facilitation.

Adani Green Operationalises 1,000 Mw of Solar Project at Khavda in Gujarat

Adani Green Energy Limited (AGEL) operationalised a total of 1,000 Mw of solar energy capacity at the world's largest renewable energy (RE) park at Khavda in Gujarat. With this, AGEL has achieved operational capacity of 9,478 Mw and continues its journey to the stated goal of 45,000 Mw by 2030.
The world's largest RE plant of 30 Gw spans a staggering 538 sq km of barren land, five times the size of Paris. The project is expected to be completed in the next five years and will create over 15,200 green jobs.
AGEL is set to replicate its success in building and operating India's first and the world's largest wind-solar hybrid cluster at Jaisalmer.

Mar 11, 2024

Integrated Command and Control Centre for Agriculture

Union Minister of Agriculture & Farmers' Welfare and Tribal Affairs, Arjun Munda, inaugurated the Agriculture Integrated Command and Control Center at Krishi Bhawan, Delhi, in March 2024.
The Centre aims to empower farmers across the country by providing them with information, services, and facilities using digital technology, in line with Prime Minister Narendra Modi's vision of making farmers self-reliant. Shri Munda said that the objective of the new initiative is to provide farmers the information about the reality in the farm and also to find out what are the real challenges our agriculture sector is facing. He said that with the availability of real-time data and its analysis, their problems can be resolved and capacity will be expanded and crops will be good, which will ultimately benefit the agriculture sector in the country.

Union Minister Narayan Rane Lays Foundation Stone of MSME-Technology Centre in Sindhudurg, Mahara...

Union Minister for Micro, Small and Medium Enterprises, Narayan Rane laid the foundation stone of the MSME-Technology Centre in Maharashtra's Sindhudurg in March 2024.
He also inaugurated Sindhudurg Audyogik Mahotsav and Self Employment Conclave on this occasion. In a statement, the Ministry said, the government is establishing twenty new technology centres and one hundred extension centres across the country to expand the access to technology by Micro, Small and Medium Enterprises.
The estimated project cost of MSME-Technology Centre, Sindhudurg is 182 Crore rupees. This technology centre will focus on sectors like general engineering and food processing. It will also create new opportunities for growth for MSMEs in the nearby areas by providing access to new technology, skills and consultancy.

Mar 10, 2024

RBI, Bank Indonesia Sign Mou To Promote Use Of Local Currencies For Cross-Border Transactions

The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) in Mumbai on Thursday for establishing a framework to promote the use of local currencies viz. the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions.
The MoU was signed by the Governor of Reserve Bank of India Mr. Shaktikanta Das and the Governor of Bank Indonesia Mr. Perry Warjiyo. This collaboration marks a key milestone in strengthening bilateral cooperation between RBI and BI.
In a press release issued on Thursday, the RBI said the MoU on establishing a framework for cooperation in the area of cross-border transactions in local currencies between India and Indonesia, aims to promote the use of INR and IDR bilaterally. It said this will eventually contribute to promoting trade between India and Indonesia as well as deepen financial integration and strengthen the long historical, cultural and economic relations Between India and Indonesia.

Mar 09, 2024

SC Dismisses MakeMyTrip Appeal Against Google Over Trademark

The Supreme Court dismissed MakeMyTrip India's plea to restrain Google from using its trademark primarily because it found no likelihood of confusion among users. The court stated that users searching for MakeMyTrip on Google would likely visit MakeMyTrip's website and not end up on Booking.com. Additionally, the court asserted that there was no scope for confusion between the services offered by MakeMyTrip and those offered by Booking Netherlands and Booking India.

CRISIL Raises India's GDP Growth Forecast to 6.8% from 6.4% for FY25

Rating agency CRISIL on Wednesday raised its economic growth forecast for India in the next financial year (FY25) to 6.8 per cent from 6.4 per cent estimated earlier, citing higher growth momentum.
In its India Outlook report, it, however, said growth will moderate in FY25 from 7.6 per cent in the current financial year (FY24) as higher interest rates and lower fiscal impulse will temper demand and the net tax impact will normalise.

Piyush Goyal Launches 'e-Kisan Upaj Nidhi' to Ease Farmers' Warehousing Logistics

Union Minister for Consumer Affairs, Food & Public Distribution, Commerce and Industry, and Textiles, Shri Piyush Goyal, launched the 'e-Kisan Upaj Nidhi' (Digital Gateway) of the Warehousing Development and Regulatory Authority (WDRA) in New Delhi.
This initiative is poised to become a cornerstone in India's journey to becoming a developed nation, 'Viksit Bharat', by 2047, with agriculture as its foundational pillar.

IOC to Make Fuel for Formula 1 - First by an Indian Firm

India's largest oil company, Indian Oil Corporation Ltd (IOC) will start manufacturing fuel used in adrenaline-pumping Formula One or F1, motor racing as it looks to expand its basket of niche fuels.
F1 fuel is essentially high-octane petrol and the standards are heavily regulated by global motor sport governing body Federation Internationale de l'Automobile (FIA) on various counts, including permissible additives and blending agents. IOC will supply fuel for all the motorcyclists from 15 countries that will participate in the FIM Asia Road Racing Championship.

Mar 08, 2024

Karnataka Partners with World Economic Forum to establish a state-of-the-art AI center

The Karnataka state government has partnered with the World Economic Forum to establish a state-of-the-art AI center, formalised through a Letter of Intent signed on February 29.
This strategic alliance aims to position Karnataka as a global hub for artificial intelligence, marking a crucial move towards integrating the state into the global digital and technological landscape.

Panama Becomes 97th Member to Ratify the International Solar Alliance

Panama has become the 97^th member to ratify the International Solar Alliance. Panama handed over the Instrument of ISA Ratification, during the meeting of the Ambassador of Panama to India, Yasiel Burillo with Joint Secretary (Economic Diplomacy), Abhishek Singh in New Delhi on Thursday.

Atal Innovation Mission (AIM) Collaborates with Meta

The Atal Innovation Mission (AIM) and Meta partnered to create Frontier Technology Labs (FTLs) in key schools, advancing beyond Atal Tinkering Labs.
These labs, backed by cutting-edge infrastructure, promote innovation among students by providing access to Artificial Intelligence, Augmented & Virtual Reality, Blockchain, Cybersecurity, Robotics, 3D Printing, and Internet of Things technologies.
This collaboration seeks to democratize future technology access, fostering a culture of innovation in education.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

July GK, June GK, May GK, INTERNATIONAL AFFAIRS, ENVIRONMENT, BUSINESS AND ECONOMY, SCIENCE & TECHNOLOGY, SPORTS, NATIONAL AFFAIRS, DEFENCE, PERSONS IN NEWS, DAYS AND EVENTS, AWARDS AND HONOURS, GOVERNMENT POLICIES AND SCHEMES, GENDER/ HEALTH/ EDUCATION, ART AND CULTURE, BOOKS AND AUTHORS, TOURISM AND HOTEL INDUSTRY AWARENESS, ART AND CULTURE, LAW AND CONSTITUTIONAL AFFAIRS

Start Discussion

On any topic

Take Tests

Compiled from GK updates

Login

Sign Up

Forgot Password

Download TCY App

Unlock All Services And Enjoy The Premium Benefits

US$ 10

US$ 13

US$ 15

US$ 17

US$ 19

US$ 20

US$ 21

US$ 22

US$ 23

US$ 24

US$ 25

US$ 26