General Awareness

BUSINESS AND ECONOMY - March 2024

Mar 2024

Nov 15, 2025

M&M, Manulife to Form Life Insurance JV

Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs. 3,600 crore each totalling Rs. 7,200 crore.
Each partner will invest Rs. 1,250 crore ($140 million) in the first five years. The new business is expected to apply for a licence with the Insurance Regulatory and Development Authority of India in two to three months and aims to commence operations in 15 to 18 months. It will mark Manulife's entry in Indian insurance.

UAE Executes First-Ever Digital Dirham Transaction in Record Time

The United Arab Emirates (UAE) made history by completing its first government transaction using the Digital Dirham, a central bank digital currency (CBDC), in less than two minutes. This lightning-fast digital payment marks a major leap forward in the UAE's mission to become a global digital finance hub. The transaction was executed via the mBridge platform, demonstrating the country's readiness to adopt next-generation financial infrastructure.
The Digital Dirham is part of the country's broader Financial Infrastructure Transformation (FIT) Programme, designed to boost transparency, efficiency, and financial inclusion.
Unlike cryptocurrencies, this CBDC is government-backed and fully regulated. It ensures secure, real-time transactions between public institutions and may eventually be used by citizens and businesses across the UAE.

Nov 13, 2025

Cabinet Approves Export Promotion Mission to Strengthen India's Export Ecosystem

The Union Cabinet chaired by the Prime Minister, Narendra Modi approved the Export Promotion Mission (EPM) — a flagship initiative announced in the Union Budget 2025–26 to strengthen India's export competitiveness, particularly for MSMEs, first-time exporters, and labour-intensive sectors.
The Mission will provide a comprehensive, flexible, and digitally driven framework for export promotion, with a total outlay of Rs. 25,060 crore for FY 2025–26 to FY 2030–31. EPM marks a strategic shift from multiple fragmented schemes to a single, outcome-based, and adaptive mechanism that can respond swiftly to global trade challenges and evolving exporter needs.
EPM is anchored in a collaborative framework involving the Department of Commerce, Ministry of MSME, Ministry of Finance, and other key stakeholders including Financial Institutions, Export Promotion Councils, Commodity Boards, industry associations, and state governments.
The Mission will operate through two integrated sub-schemes:
- NIRYAT PROTSAHAN – focuses on improving access to affordable trade finance for MSMEs through a range of instruments such as interest subvention, export factoring, collateral guarantees, credit cards for e-commerce exporters, and credit enhancement support for diversification into new markets.
- NIRYAT DISHA – focuses on non-financial enablers that enhance market readiness and competitiveness, including export quality and compliance support, assistance for international branding, packaging, and participation in trade fairs, export warehousing and logistics, inland transport reimbursements, and trade intelligence and capacity-building initiatives.

Tata Power Plans India's Largest Solar Wafers & Ingots Plant

In a major move for India's renewable energy sector, Tata Power has announced its intention to set up what will be the country's largest solar wafers and ingots manufacturing plant, with a capacity of 10 gigawatts (GW). For competitive exam aspirants and readers keeping tabs on industrial & energy policy developments, this project is significant—since it relates to building up the domestic solar manufacturing supply chain, government incentives, and the broader push for self�'reliance in energy components.
Tata Power will establish a facility dedicated to producing ingots and wafers—these are upstream components in solar cell and module manufacturing (ingots → wafers → cells → modules).

Nov 12, 2025

Co-op Banks Now in E-world with 2 Apps

Amit Shah launched 'Sahkar Digi-Pay' and 'Sahkar Digi-Loan' Apps - a digital platform enabling quick, paperless, and transparent access to loans and credit for cooperative members across India - at International Conference on Urban Cooperative Credit Sector, and said efforts should be made to establish an urban cooperative bank within next five years in every town with a population of over two lakh.

IndiGo Inks Codeshare Pact with China Southern Airlines

IndiGo signed an MoU with China Southern Airlines for a codeshare partnership that will increase its reach and offer better travel options to its customers.
The agreement was signed following the launch of IndiGo's Delhi-Guangzhou flight.
IndiGo said that the partnership aims to offer enhanced travel options and integrated travel itineraries to customers traveling between India and China on the joint network of both airlines. Customers will also benefit from check-in process among others.

Nov 11, 2025

Diageo Brings in Former Tesco Chief Dave Lewis to Revive Growth

Diageo appointed former Tesco boss Dave Lewis as its CEO in November 2025, ending a months-long search and turning to an outsider to revive growth at the world's largest spirits maker during a challenging period for the drinks industry.
Lewis, 60, will join Diageo at the start of 2026 and will be tasked with turning around the Johnnie Walker whisky and Guinness beer maker, which last week downgraded its sales and profit outlook for fiscal 2026 and whose shares are hovering near a decade low.
Shares in the drinks group, which also makes Don Julio tequila, jumped 7% on news of Lewis' appointment on Monday and were headed for their biggest one-day percentage gain since November 2020.

Sharad Malhotra to Become 1st Indian MD of Nippon Paint India

Japan's Nippon Paint Holdings arm, NIPSEA Group, in November 2025, announced the appointment of Sharad Malhotra as Managing Director of Nippon Paint India, effective December 1, 2025, making him the first Indian to occupy the position in the company.
Malhotra will succeed Jon Tan as Managing Director, reporting to the Group's CEO, Wee Siew Kim, the company said in a statement.
He became the first Indian to be appointed to this position in the company and will be responsible for driving the overall direction and strategy of India Group, it added.
Malhotra will continue to spearhead Nippon Paint's global foray into the automotive aftermarket business, a category that he has led since inception.

Punit Lalbhai Appointed Chairman of Anup Engineering

Anup Engineering Ltd (TAEL) has announced a change in its board leadership following the resignation of Sanjay S Lalbhai as Chairman and Non-Executive Director. The decision was taken at the company's board meeting in November 2025.
TAEL stated that Sanjay Lalbhai stepped down as part of its succession planning process. "As part of our succession planning and to ensure continuity in leadership, I have decided to step down from my position. I am confident that under Punit's leadership, TAEL will continue to build on its strong foundation and deliver sustainable, long-term value for all stakeholders. With this, the board has appointed Punit S Lalbhai, currently Vice-Chairman and Non-Executive Director, as Chairman with effect from November 10, 2025. He will lead the company alongside Managing Director and Chief Executive Officer Reginaldo D'Souza.

Britannia Appoints Rakshit Hargave as New CEO After Varun Berry Resigns

FMCG major Britannia Industries has announced a significant change in its top leadership. Varun Berry has resigned from his position as Vice Chairman, Managing Director, and Chief Executive Officer, effective from the close of business on November 10, 2025. The company has appointed Rakshit Hargave as its new Chief Executive Officer and additional whole-time director, signaling a new chapter for the food products giant.
This transition marks the end of a pivotal era for Britannia, as Berry has been at the helm for nearly 13 years. In a BSE filing, the company confirmed the leadership change. Hargave's appointment is set for a five-year term, scheduled to begin on December 15, 2025. His appointment is subject to the approval of the company's shareholders.

Nov 07, 2025

Paradeep Phosphates Signs Rahul Dravid as Brand Ambassador

Cricketing icon Rahul Dravid was appointed as the brand ambassador for Paradeep Phosphates Ltd. (PPL), one of India's leading fertiliser companies. The partnership aims to leverage Dravid's credibility and influence to promote sustainable farming practices, balanced fertiliser use, and farmer education across India.
The collaboration reflects a growing trend in using trusted public figures to drive agricultural awareness, especially around newer technologies and inputs.
Paradeep Phosphates, known for its range of phosphatic, NPK, and organic fertilisers, aims to strengthen its connection with India's farming community by associating with a national figure admired for his integrity and discipline.

NaBFID to Transform into Global Infrastructure Bank

NaBFID, or the National Bank for Financing Infrastructure and Development, will soon be renamed as Infrastructure Development Bank (IDB). The move aims to position NaBFID as an international financial institution along the lines of the Asian Development Bank and the International Finance Corporation.
Along with the name change, NaBFID will also launch a new logo.
NaBFID was established following an announcement in the 2021 Union Budget to finance long-term infrastructure projects.

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