General Awareness

BUSINESS AND ECONOMY - November 2022

Nov 2022

Jun 18, 2025

RBI Hikes Agency Commission for Banks on Government Transactions

In a move aimed at enhancing efficiency in government-related banking services, the Reserve Bank of India (RBI) revised the agency commission rates paid to banks for handling government business transactions. The revised structure includes increased payouts for electronic revenue transactions, pension disbursements, and non-pension government payments, signalling RBI's intent to bolster digital handling of public funds and incentivise banks accordingly.

HCLTech Partners with E.ON to Create Private Cloud Infrastructure

HCLTech entered into a strategic partnership with E.ON, a European energy company, to support the transformation of E.ON's cloud infrastructure under the terms of the contract.
As part of the multi-year agreement, HCLTech will create a private cloud platform for E.ON and manage its cloud and network infrastructure across global hyperscalers, which operate large-scale cloud data centres.
Headquartered in Germany, E.ON has a distribution network of 1.6 million kilometres and approximately 47 million customers. It is one of Europe's largest energy companies, focusing on power and gas distribution and sustainable energy solutions across key European markets.

Bata Group Names Panos Mytaros Global CEO, Replacing Sandeep Kataria

The Bata Group announced the appointment of Panos Mytaros as its new global Chief Executive Officer, effective 15 September. He will succeed Sandeep Kataria, who has led the group since 2020.
Mytaros comes with over 30 years of experience in the footwear and leather industry. Prior to joining Bata, he was at ECCO, where he held several senior positions, including, most recently, chief executive officer from 2021 to 2024.

Jun 17, 2025

RBI Relocates Andhra Pradesh Regional Office to Vijayawada

The Reserve Bank of India (RBI) officially relocated its Andhra Pradesh regional office to Vijayawada. The new office was inaugurated by Deputy Governor T. Rabi Sankar, marking a significant step in enhancing the central bank's operational effectiveness and outreach in the state.
The RBI's decision to shift its Andhra Pradesh regional office to Vijayawada from the earlier location reflects an effort to streamline regional financial operations and boost accessibility in the heart of Andhra Pradesh. The move is also in alignment with the region's growing economic importance.

Meta Appoints Arun Srinivas as India Head to Lead Business Expansion

Meta appointed Arun Srinivas as its new Managing Director and Head of India, effective July 1, 2025. Currently heading Meta's ads business in India, Srinivas will now oversee the company's overall business, innovation, and revenue strategy in one of its largest global markets. His elevation follows the resignation of Shivnath Thukral, and came at a time when Sandhya Devanathan took charge of Meta's operations across India and Southeast Asia.

TCS Joins Hands with CEB to Streamline Financial Operations

Tata Consultancy Services (TCS) partnered with the Council of Europe Development Bank (CEB), headquartered in Paris, to streamline the bank's complex financial transactions. As part of this collaboration, TCS will implement its AI-driven solution, TCS BaNCSTM for Reconciliations, to automate and modernise CEB's reconciliation processes and increase operational transparency, efficiency, and control.
The collaboration between TCS and the CEB is significant for several reasons: It showcases India's IT leadership in global financial transformation. It introduces AI and automation into core banking functions of a major European development bank. It aligns with CEB's mission of improving operational efficiency to support social development projects across Europe.

Jun 16, 2025

Sun Pharma Appoints Kirti Ganorkar as MD

Sun Pharmaceutical Industries Ltd, India's largest pharmaceutical company, appointed Kirti Ganorkar as its Managing Director, effective September 1, 2025. The move marks the culmination of a carefully planned succession process, with founder Dilip Shanghvi transitioning to the role of Executive Chairman. While Ganorkar will oversee day-to-day business operations, Shanghvi will continue guiding the company's long-term strategy and its specialty portfolio.

Maruti Suzuki Collaborates with Equitas Small Finance Bank to Expand Retail Car Financing Network

Maruti Suzuki India signed an MoU with Equitas Small Finance Bank, entering into a strategic vehicle financing partnership for customers.
This collaboration, which aims to provide retail financing solutions for new, used, and commercial vehicles, will enhance the accessibility and affordability of Maruti Suzuki vehicles for a broader range of customers.

Adani Green Energy Ranks Highest in NSE's ESG Power Sector Benchmark

Adani Green Energy Ltd (AGEL) was ranked first in the ESG (Environmental, Social, and Governance) ratings in utilities/ power sector by NSE Sustainability Ratings and Analytics Ltd, an entity of the National Stock Exchange (NSE).
Additionally, AGEL is among the top 5 entities in ESG ratings assessed from the top 100 listed companies by revenue across the National Stock Exchange (NSE).

Jun 15, 2025

Ujjivan Small Finance Bank Limited Launches 'Ujjivan Rewardz' for Its Resident Savings Account Ho...

Ujjivan Small Finance Bank Limited (Ujjivan SFB) announced the launch of 'Ujjivan Rewardz,' a multi-tier system designed to reward the customers on their various digital transactions. With this program, Ujjivan SFB aims to further deepen customer engagement and experience by offering attractive and personalised benefits. Ujjivan SFB partnered with AdvantageClub.ai, an entity known for their innovative approach to delivering the loyalty solutions to Ujjivan SFB customers.

Jun 14, 2025

Volvo Cars Partners with HCLTech to Drive Engineering Transformation

HCLTech announced that Volvo Cars chose the technology company as one of its strategic suppliers for engineering services.
According to HCLTech, this agreement significantly expands HCLTech's role to cover the delivery of end-to-end engineering solutions at scale.
The strategic collaboration will see the company support Volvo Cars' engineering future ambitions from its automotive Centre of Excellence in Gothenburg, as well as its global offshore and nearshore delivery centres.

Scapia & Federal Bank Launch Dual-Network RuPay-Visa Credit Card

Scapia, a travel-first fintech platform, in partnership with Federal Bank, launched the Scapia Federal RuPay Credit Card—a dual-network card that combines the convenience of UPI, credit access, and travel rewards in a single offering.
This new credit card enables users to carry out both RuPay and Visa transactions across online, offline, UPI, and international channels, while managing all spends under one credit limit and consolidated monthly statement.
This is one of the first credit cards in India to integrate UPI functionality directly via the RuPay network while retaining the global reach of Visa.

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