General Awareness

BUSINESS AND ECONOMY - July 2024

Jul 2024

Mar 13, 2025

Canara HSBC Life Insurance Partners with GIC Housing Finance for Home Loan Security

Canara HSBC Life Insurance entered a strategic distribution partnership with GIC Housing Finance Limited to provide enhanced financial security solutions to GICHF's home loan customers. Through this partnership, Canara HSBC Life Insurance will offer its 'Group Asset Secure' product —a comprehensive credit life insurance plan—designed to protect borrowers and their families against loan liabilities in the event of unforeseen circumstances.
The partnership aims to support and enable India's intent and ambition of owning their own homes. With GIC Housing Finance's diversified customer pool, the alliance will unlock a viable financial protection provision for the customers of the company.

Ethisphere Recognises Infosys among 2025 World's Most Ethical Companies® for the Fifth Consecuti...

Infosys, a global leader in next-generation digital services and consulting, received the 2025 World's Most Ethical Companies® recognition by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. Infosys received the honour, for the fifth consecutive year, for demonstrating strong culture of ethics, integrity, ethical governance, and responsible business practices.
Infosys was recognised among 136 honourees spanning across 19 countries and 44 industries and one of only three companies in India to receive this recognition.

RBI Grants One-Year Extension to IndusInd Bank CEO Sumant Kathpalia

The Reserve Bank of India (RBI) granted only a one-year extension to Sumant Kathpalia, Managing Director (MD) and Chief Executive Officer (CEO), IndusInd Bank.
This is despite the bank's Board requesting a three-year reappointment.
This marks the second consecutive time that the RBI has approved a shorter tenure instead of a full three-year term for Kathpalia.

Japanese Automaker Nissan's Chief Executive Steps Down

Japanese automaker Nissan's chief executive, Makoto Uchida, is stepping down after the company reported dismal financial results and its merger talks with Honda collapsed.
Nissan Motor Corp. said that Ivan Espinosa, who is now the company's chief planning officer, will take Uchida's place, effective April 1.

Mar 12, 2025

Vikas Kaushal Appointed as HPCL CMD

The government appointed Vikas Kaushal as the Chairman and Managing Director (CMD) of Hindustan Petroleum Corporation Limited (HPCL) for a tenure of five years. He replaced Rajneesh Narang, who had been serving as the interim CMD since September 1, 2024. Kaushal has over 30 years of experience in energy, oil & gas, and power sectors.
Previously he served as MD & Country Head of Kearney India for five years.
He was twice elected to Kearney's Global Board of Directors, the only Indian considered for the role.

Razorpay Expands into Singapore to Revolutionise Digital Payments

Razorpay, a leading fintech company, officially launched its payment solutions in Singapore, marking its next major expansion after its success in India and Malaysia. The move aligns with Singapore's digital-first economy and growing real-time payments ecosystem. Razorpay aims to simplify cross-border transactions, reduce payment costs, and introduce AI-driven financial tools to empower businesses in Singapore.

Manohar Lal Khattar Opens Global Power Conference GRIDCON 2025

The GRIDCON 2025 — an international conference cum exhibition — at Yashobhoomi, Dwarka, New Delhi concluded on March 11, 2025.
It was inaugurated by Union Minister of Power and Housing and Urban Affairs Manohar Lal Khattar, and organised by Power Grid Corporation of India Limited under the patronage of the Ministry of Power, in association with CIGRE, India.
With the theme 'Innovations in grid resilience', the conference focused on new technologies, infrastructure and smart solutions that can revolutionise the way we generate, transmit, distribute, and consume energy.

Mar 11, 2025

Bank of Baroda Launches 'bob Global Women NRE & NRO Savings Account' for Women NRIs

In March 2025, Bank of Baroda (BoB) introduced the 'bob Global Women NRE & NRO Savings Account', marking a first among public sector banks with an NRI account designed specifically for women. This account aims to empower women NRIs by providing premium banking privileges, concessional loan rates, and insurance benefits. Additionally, BoB revamped its 'bob Premium NRE & NRO Savings Account' to enhance customer experience with new features and benefits.
The insurance coverage includes: Rs. 50 lakh Air Accident Insurance and Rs. 5 lakh Personal Accident Insurance. Auto Sweep Facility is also available on demand to earn higher interest.

Government Initiatives to Promote Gas-Based Power Generation

Gas-based power plants in India are currently operating at a low Plant Load Factor (PLF), impacting their efficiency and contribution to the energy sector. To address this, the Government of India has taken several measures to enhance the availability and affordability of natural gas for power generation. Key steps include placing Liquefied Natural Gas (LNG) under the Open General Licence (OGL) category, facilitating infrastructure expansion, and implementing policy reforms to encourage gas-based energy production. This article explores various initiatives aimed at increasing the share of natural gas in India's energy basket.

RBI Imposes Rs. 76.6 Lakh Penalty on Four NBFCs for Regulatory Violations

The Reserve Bank of India (RBI) has imposed monetary penalties totaling Rs. 76.6 lakh on four Non-Banking Financial Companies (NBFCs) — Fairassets Technologies India (Rs. 40 lakh), Bridge Fintech Solutions (Rs. 10 lakh), Rang De P2P Financial Services (Rs. 10 lakh), Visionary Financepeer (Rs 16.6 lakh) — for non-compliance with regulatory norms.
These penalties were issued under Section 58G of the Reserve Bank of India Act, 1934, and Section 30 of the Payment and Settlement Systems Act, 2007. The violations included lapses in governance, reporting requirements, fair lending practices, capital adequacy, and fraud risk management. The RBI's action reinforces its commitment to financial discipline, consumer protection, and strengthening compliance in the NBFC sector.

Takashi Nakajima Appointed as the New President & CEO of Honda Cars India

Japanese automobile giant Honda Motor Company has announced a leadership change for its Indian subsidiary, Honda Cars India Ltd. (HCIL). Takashi Nakajima has been appointed as the new President and CEO of HCIL, effective April 1, 2025. Nakajima will succeed Takuya Tsumura, who will return to Honda's headquarters in Japan after completing his three-year tenure in India.
This appointment is part of the annual management restructuring process at Honda Motor Company, aimed at strengthening its global leadership and operational strategies.
Takashi Nakajima is a Honda veteran with 30 years of experience in the automobile industry. He joined Honda in 1994 and has held key leadership roles in various international markets. He worked as President of Honda Motor Russia since 2021. In Japan, He worked in Honda's headquarters, handling business planning and product strategy. In China, he contributed to Honda's expansion in one of the world's largest automobile markets. In Spain & Czech Republic, he played a crucial role in marketing and sales promotions.

Mar 10, 2025

Patanjali Inaugurates Asia's Largest Orange Processing Unit in Nagpur

Union Minister for Road Transport, Highways, and Shipping Nitin Gadkari along with Chief Minister of Maharashtra, Devendra Fadnavis inaugurated Asia's largest orange processing plant, 'Patanjali Mega Food & Herbal Park' established by Patanjali at MIHAN, Nagpur.
Patanjali Food and Herbal Park in Nagpur's MIHAN industrial area, has the capacity to make 800 tonnes of pure orange juice daily.

HDFC Bank Signs MoU with Indian Air Force and CSC Academy; Launches Project HAKK

HDFC Bank, under its Parivartan initiative, signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) and CSC Academy to launch Project HAKK (Hawai Anubhavi Kalyan Kendra). This initiative is designed to support defence pensioners, veterans, and their families by providing financial services, skill development, and economic inclusiveness. The MoU was signed in the presence of senior officials from HDFC Bank, the Indian Air Force, and CSC e-Governance Limited.

SIDBI and Federal Bank Partner to Strengthen MSME Financing

The Small Industries Development Bank of India (SIDBI) and Federal Bank signed a Memorandum of Understanding (MoU) to enhance financial support for micro, small, and medium enterprises (MSMEs). This collaboration aims to boost the MSME ecosystem by offering various financial services, including project finance, machinery and equipment loans, working capital support, and loans against property. The partnership will also explore joint financing options to extend credit facilities to MSMEs, ensuring easier access to funds for their growth and development. The announcement aligns with Prime Minister Narendra Modi's commitment to strengthening the MSME sector, recognizing it as the backbone of India's manufacturing and industrial growth.

The 11th Global Kokan Festival 2025 Receives Overwhelming Response

The 11th edition of the 'Global Kokan Festival 2025', held at Nesco Ground, Goregaon (Mumbai) from March 6 to 9, 2025, witnessed an enthusiastic response from investors, policymakers, entrepreneurs, and cultural enthusiasts. Over the past few days, the festival emerged as a key platform to promote Konkan as a thriving hub for business, tourism, agriculture, fisheries, and cultural heritage, unlocking new opportunities for economic growth and employment in the region.

Mar 09, 2025

RBI Appoints Dr. Ajit Ratnakar Joshi as Executive Director

The Reserve Bank of India (RBI) appointed Ajit Ratnakar Joshi as its new Executive Director (ED). Joshi will be responsible for overseeing the Department of Statistics and Information Management and the Financial Stability Department. With over 30 years of experience in statistics, information technology, and cyber risk management, Joshi brings a wealth of expertise to his new role.

Tech Mahindra Bolsters US Presence with New Headquarters in Texas' Plano

Tech Mahindra announced the opening of its Americas headquarters in Plano, Texas, a move it said underscores the company's firm commitment to the US market.
The Plano office is Tech Mahindra's nineteenth office in the US.
The new facility will house a diverse range of operational functions, including consulting, delivery, and customer support services.
As part of the company's ongoing expansion plans, Tech Mahindra will also establish an Innovation Lab within the same premises.

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