General Awareness

BUSINESS AND ECONOMY - May 2024

May 2024

Jul 23, 2025

Industry Giant "UNIPACK Corrugated" Enters India's Packaging Market

UniPack Corrugated, a global leader in smart packaging engineering & automation solutions, announced its entry into India's fast growing packaging industry through the strategic acquisition of Congzhou Machinery the leading manufacturer of corrugated board equipment. This move establishes UniPack India as a dedicated entity serving the nation's Rs. 50,000 crore packaging sector with advanced technology and 360° comprehensive support.

Patrik Antoni New CEO of Ikea India as Susanne Pulverer Resigns

Ikea India, part of leading Swedish home furnishings retailer, announced the appointment of Patrik Antoni as its next CEO.
Antoni, whose appointment will be effective from August 2025, will also work as Country Retail Manager & Chief Sustainability Manager (CSO), Ikea India said.
He will replace incumbent Susanne Pulverer, current Country Retail Manager & CSO, who has decided to leave her role at Ikea.
She was associated with Ikea for 28 years and has spent over eight years in India in three stints.

Jul 22, 2025

LIC Signs MoU with Rural Development Ministry to Promote Bima Sakhi Yojana

The Life Insurance Corporation of India (LIC) entered into a significant partnership with the Ministry of Rural Development to promote the Bima Sakhi Yojana, a women-centric insurance distribution initiative. The Memorandum of Understanding (MoU), signed during the 'Anubhuti' Conclave on Financial Inclusion held in Goa, reflects a mutual commitment toward women empowerment, financial inclusion, and enhancing rural livelihoods through structured insurance career opportunities.

RRBs Reduced from 43 to 28 to Simplify Management, Ease of Service Delivery

Finance Minister Nirmala Sitharaman said that the amalgamation of Regional Rural Banks (RRBs) resulted in formation of a state-level RRB with contiguous area of operation leading to simplifying management and ease of service delivery.
In a written reply to a question on the first day of the Parliament's Monsoon Session, FM Sitharaman said that guided by the principle of 'One State-One RRB', the government continued with the process of further consolidation of RRBs in "Phase IV amalgamation" to achieve the benefits of scale efficiency and cost rationalisation, whereby number of RRBs has been reduced from 43 to 28 (with effect from May 1, 2025) in 26 states and 2 UTs.

Jul 21, 2025

India Tops Global Fast Payments

India emerged as the global leader in fast payments, according to a note by the International Monetary Fund titled 'Growing Retail Digital Payments: The Value of Interoperability.'
At the heart of this transformation is the Unified Payments Interface, better known as UPI. It was launched in 2016 by the National Payments Corporation of India.

Jul 19, 2025

Ajay Kumar Shrivastava Appointed Director (Engineering & R&D), HAL

Ajay Kumar Shrivastava officially assumed the role of Director (Engineering and R&D) at Hindustan Aeronautics Limited (HAL), one of India's premier aerospace and defence public sector undertakings. With 37 years of experience in aircraft design and development, Shrivastava's appointment marks a significant move in advancing indigenous aviation capabilities and innovation.
Ajay Shrivastava began his professional journey at HAL in 1988 as a Management Trainee (Technical). Over the decades, he has served in multiple leadership roles including Head of the Aircraft Research & Design Centre (ARDC) and the Transport Aircraft Research & Design Centre (TARDC).

Government Extends NTPC CMD Gurdeep Singh's Tenure till July 2026

The government extended the tenure of Gurdeep Singh as Chairman and Managing Director (CMD) of NTPC by one year.
Singh who was due to retire on July 31, will now lead the power giant for till July-end 2026. NTPC is India's largest power producing entity under Ministry of Power.

Jul 18, 2025

Zepto's Founders Top In Hurun India U30 List 2025

The Hurun India U30 List 2025, released in collaboration with Avendus Wealth, marks a defining moment in India's entrepreneurial journey. Featuring 79 dynamic entrepreneurs aged 30 or below, the list celebrates a generation of self-starters who have built ventures with significant valuations, job creation, and global impact.
Launched as part of the broader "Uth Series" by Hurun and Avendus, this is the first edition focused exclusively on under-30 founders. Entrepreneurs featured must have founded or co-led ventures with a valuation of over $25 million (first-generation) or $50 million (next-generation leaders).
Top-Ranked Founders - Aadit Palicha and Kaivalya Vohra (Zepto)
Youngest Entrepreneur - Kaivalya Vohra (22)
Top Women Founders - Devika Gholap, Ananyashree Birla and Romita Mazumdar

EximPe Gets RBI Approval for Cross-Border Payment Aggregator License

EximPe received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator – Cross Border (PA-CB). This move is expected to bolster cross-border digital transactions and e-commerce trade, particularly in the India-Asia corridor. As cross-border payments become more integral to global trade and digital services, such regulatory approvals mark a shift toward enhanced infrastructure and compliance in the digital economy.

Reliance Retail Acquires Kelvinator

Reliance Retail acquired refrigerator, washing machine manufacturer Kelvinator to broaden its range of offerings in the fast-growing durables market.
By bringing Kelvinator into Reliance's fold, Reliance aims to combine its massive retail network with Kelvinator's legacy of innovation and trusted performance.
Kelvinator, which originated in the early 20th century and became a household name in India in the 1970s and '80s with the tagline "The Coolest One," retains a nostalgic charm with Indian consumers.

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