General Awareness

BUSINESS AND ECONOMY - March 2024

Mar 2024

Jan 14, 2026

Karnataka Bank enables Khajane-2 payments via net banking

Karnataka Bank announced it has enabled Khajane-2 government e-receipts payments through its internet banking platform. The move aligns with state and central digital payment initiatives, offering customers a secure and convenient way to settle government receipts. The bank emphasized its commitment to digital services, aiming to simplify transactions for individuals and businesses, while reinforcing security and reliability. The feature complements existing mobile and branch-based payment options and is expected to improve user experience and reduce processing times for government payments.

Karnataka Bank enables Khajane-2 payments via net banking
Aligns with state and central digital payment initiatives
Aims to simplify government receipts for customers
Emphasis on security, reliability, and convenience
Supports digital transformation in public finance

Nissan strengthens India leadership with Sabbagh appointment

Nissan announced a leadership reshuffle in its AMIEO region, expanding Thierry Sabbagh’s responsibilities to include India as Divisional Vice President and President for Middle East, KSA, CIS, and India—Nissan and Infiniti. The changes take effect on January 1, 2026. The company frames India as central to its 2026 plan, with a forecast of three new models—GRAVITE, TEKTON, and a 7-seater C-SUV—within 14 to 16 months. The move underlines Nissan’s push to regain momentum in the Indian market and strengthen its manufacturing, sales, and after-sales footprint across the region.

Thierry Sabbagh appointed Divisional VP and President for India
Effective January 1, 2026; India central to 2026 plan
Three new models expected within 14–16 months
Strategic emphasis on refreshed operations in AMIEO region
India leadership move signals growth ambitions

Jan 13, 2026

Websol Renewable to build 8 GW solar manufacturing complex in Naidupeta

Websol Renewable Private Limited (WRPL) received government approval to establish a fully integrated 8 GW solar manufacturing facility in Naidupeta, Tirupati district, Andhra Pradesh. The project comprises 4 GW solar cells and 4 GW solar modules on a 120-acre site, with total investment of ₹3,538 crore. Development will occur in two phases, targeting commercial production by July 2027 and July 2028. The facility aims to boost domestic solar supply chains, reduce imports, and support India’s renewable energy growth. The GoAP stated the project would create jobs and advance the state’s clean energy goals.

WRPL to build 8 GW solar manufacturing complex in Naidupeta.
Facility: 4 GW cells + 4 GW modules on 120 acres.
Total investment: ₹3,538 crore; two-phase development.
Production scheduled July 2027 and July 2028.
Aims to strengthen India’s domestic solar supply chain.

Akzo Nobel India appoints Parth Jindal as chairman; board approves leadership changes

Akzo Nobel India announced the appointment of Parth Jindal as Chairman, effective 9 January 2026. Jindal is currently managing director of JSW Paints and JSW Cements. JSW Paints acquired a majority stake in Akzo Nobel India in a ₹12,915 crore deal last year, making JSW the promoter. The board also redesignated Rajiv Rajgopal as joint managing director and chief executive officer, effective 9 January 2026. Rajgopal previously served as chairman and managing director. Akzo Nobel India remains a leading paints and coatings company, best known for Dulux paints. The leadership changes come as the group pursues growth and integration strategies.

Parth Jindal appointed Chairman, effective 9 January 2026.
Jindal also MD of JSW Paints and JSW Cements.
JSW Paints acquired majority stake in Akzo Nobel India for ₹12,915 crore.
Rajiv Rajgopal redesignated as joint MD and CEO, effective 9 January 2026.
Company continues to market Dulux paints in India.

Jan 12, 2026

Google teams with Walmart, Shopify and others to add shopping in Gemini AI chatbot

Google said on Sunday that it is expanding shopping features in its Gemini AI chatbot by partnering with Walmart, Shopify, Wayfair and other large retailers to turn the Gemini app into a virtual merchant as well as an assistant. An instant checkout function will let customers buy from participating businesses without leaving the chat, using a range of payment providers. The announcement was made on the first day of the National Retail Federation’s annual convention in New York, where AI in e-commerce was a central topic. Walmart’s incoming president and CEO John Furner, and Alphabet chief Sundar Pichai, described this as the next evolution in retail.

Gemini AI chatbot will host shopping from multiple major retailers including Walmart, Shopify and Wayfair.
Instant checkout feature enables purchases directly within Gemini chat without switching apps.
Payments will be processed through a variety of providers, without leaving the chat interface.
Announcement coincides with the National Retail Federation convention in New York.
Company executives frame agent-led commerce as a key future trend in retail.

CIO Mahesh Patil steps down from Aditya Birla Sun Life AMC after 21 years

Mahesh Patil has resigned as Chief Investment Officer at Aditya Birla Sun Life AMC after 21 years with the fund house. He announced on LinkedIn that he is leaving to pursue personal goals and will hand over responsibilities to his successors. Patil oversaw assets under management of about Rs 4.5 lakh crore and noted that the leadership team would continue to meet investor expectations. He named Harish Krishnan (CIO Equity), Kaustubh Gupta (CIO Fixed Income) and Sunaina da Chuna (Co CIO Debt) as his potential successors. The transition comes amid a broader phase of succession planning at the company.

Mahesh Patil resigns as CIO of Aditya Birla Sun Life AMC after 21 years.
Leaves to pursue personal goals; handover to named successors.
Managed roughly Rs 4.5 lakh crore in AUM.
Successors named: Harish Krishnan, Kaustubh Gupta, Sunaina da Chuna.
Resignation signals ongoing leadership succession planning.

NLCIL wins SKOCH Gold award for financial performance

NLC India Limited (NLCIL) has won the SKOCH Gold award for financial performance, announced at the 105th SKOCH summit in New Delhi. The award recognises strong financial management, operational efficiency and consistent value creation for stakeholders. NLCIL, a Navaratna CPSE under the Ministry of Coal, emphasised transparency and accountability in its reporting and governance practices. The accolade reflects the company’s efforts to maintain financial discipline while supporting energy production and diversification strategies in India’s coal and power sectors.

NLCIL receives SKOCH Gold award for financial performance.
Award announced at the 105th SKOCH summit, New Delhi.
Honours financial management, efficiency and stakeholder value.
NLCIL is a Navaratna CPSE under the Ministry of Coal.
Highlights governance and transparency in corporate performance.

Macquarie India head Abhishek Poddar resigns; second senior exit in months

Abhishek Poddar, managing director and country head-India at Macquarie Asset Management, has resigned after an eight-year tenure. He is currently on gardening leave and is expected to formally exit by the end of January. This marks the second senior-level departure from Macquarie India in recent months, following the December resignation of Deep Gupta after nearly 18 years with the group. The leadership churn at the Australia-headquartered asset manager’s India franchise highlights restructuring within the firm’s local operations as it navigates evolving market conditions and investment strategies.

Abhishek Poddar resigns as MD-India at Macquarie Asset Management.
Exit planned by end of January; Poddar is on gardening leave.
Second senior departure from Macquarie India in recent months.
Follow-up leadership changes include earlier departure of Deep Gupta.
Indicates ongoing leadership churn within Macquarie’s India franchise.

Jan 11, 2026

Meesho announces resignation of Megha Agarwal from CXO (business) role

Meesho, the Indian e‑commerce platform, announced the resignation of Megha Agarwal, the CXO (business) and a senior management executive. Agarwal had been with Meesho for more than six years, joining the company in 2020 and serving in several leadership roles across growth, strategy and business functions. She held posts including chief of staff, vice president and general manager – user growth, and CXO–growth before taking on the CXO, business role in October 2023, succeeding Utkrishta Kumar, who left after a five‑year stint to pursue his own fintech venture. Meesho said it will begin a search for a replacement and continue pursuing its growth roadmap. The company did not share further details about the departure.

Meesho confirms Megha Agarwal's resignation from CXO (business).
Agarwal joined Meesho in 2020 and served in multiple leadership roles.
Prior roles included chief of staff and VP–GM for user growth.
Took the CXO, business role in October 2023 after Utkrishta Kumar's exit.

Jan 10, 2026

Tata Power to set up ₹6,675 crore 10 GW ingot-wafer plant in Nellore, Andhra Pradesh

Tata Power Renewable Energy Limited (TPREL) will invest ₹6,675 crore to establish a greenfield 10 GW ingot and wafer manufacturing facility in Nellore, Andhra Pradesh. The project aims to be the largest ingot and wafer unit in the country, strengthening domestic solar supply chains. It will be developed at the IFFCO Kisan Special Economic Zone, with 200 acres earmarked—120 acres in the initial phase and 80 acres for future expansion. The plant signals a significant boost to India’s solar manufacturing ecosystem and could enhance energy security and local employment while expanding Andhra Pradesh’s status as a hub for advanced solar production.

₹6,675 crore investment for 10 GW facility
Location: Nellore, Andhra Pradesh in IFFCO Kisan SEZ
200 acres total; 120 acres initial, 80 acres expansion
Largest ingot-wafer unit in India; boosts solar manufacturing

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