General Awareness

BUSINESS AND ECONOMY - June 2025

Jun 2025

Jun 03, 2025

S. Padmanabhan Appointed Chairman of Tata Chemicals

In a strategic leadership development within the Tata Group, S. Padmanabhan, a seasoned executive and PGP'82 alumnus of IIM Bangalore, was appointed as the Chairman of Tata Chemicals.
His career in the Tata group of companies began with Tata Consultancy Services Limited (TCS) in 1982 and spans over 40 years. During his 26-year stint in TCS, he held roles such as Executive Director of Human Resources, Head of Application Development and Maintenance, Head of Airlines Practice, Country Manager, TCS Switzerland and position of Executive Director.

Air India Enters into Codeshare Agreement with Icelandair

Air India and Icelandair announced their new codeshare partnership. The partnership will significantly boost connectivity between India and Iceland with seamless travel options across 15 routes in India and Europe.
This strategic partnership strengthens travel and trade ties between India and Iceland, offering passengers greater flexibility and choice while ensuring a seamless travel experience with convenient connection times, unified baggage allowances, and enhanced connectivity through major European hub airports.
The two airlines signed the codeshare agreement on the sidelines of the 81^st Annual General Meeting (AGM) of the International Air Transport Association (IATA), held in New Delhi in June.

Punjab & Sind Bank MD S. K. Saha Get Extension

The Union government extended the tenure of Swarup Kumar Saha, Managing Director and Chief Executive Officer of Punjab & Sind Bank, until his superannuation on February 28, 2027, or until further orders, whichever is earlier.
Saha's current term was set to end on June 2, 2025. The extension was granted under clause (a) of sub-section (3) of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

Indian Oil Finalises India's Largest Green Hydrogen Project at Panipat

State-owned Indian Oil Corporation (IOC) finalised the levelised cost of hydrogen (LCoH) for setting up a 10,000 tonnes per annum green hydrogen generation unit at its Panipat refinery and petrochemical complex in Haryana, advancing India's clean energy ambitions.
This marks IOC's entry into the green hydrogen space with India's largest-ever green hydrogen project to date.
Slated for commissioning by December 2027, the green hydrogen produced will replace fossil-derived hydrogen in refinery operations, resulting in substantial reduction in carbon emissions.

Bangladesh Introduces New Currency Notes Without Mujib

Bangladesh's central bank, under Nobel Laureate Mohammad Yunus' interim administration, dropped the portrait of the country's founding father and exiled leader Sheikh Hasina's father Sheikh Mujibur Rehman from new currency notes.
The new notes will showcase symbols of the country's heritage, including temples, monasteries, historic buildings, and artwork by Zainul Abedin, a prominent Bangladeshi artist.
The Bangladesh Bank unveiled redesigned Tk 20, Tk 50, and Tk 1,000 notes ahead of Eid.
The redesigned notes are being introduced following a political controversy over Sheikh Mujibur Rehman's face on the currency notes.

Jun 02, 2025

Air India CEO Campbell Wilson Says Pakistan Airspace Ban Adding to Flying Costs

According to Air India's Chief Executive Officer Campbell Wilson, the continuing ban for Indian airlines in using Pakistani airspace is adding flying hours for non-stop flights and will weigh down Air India's path to profitability.
Campbell said that the impact is significant but they have been able to sustain non-stop operations to most destinations in North America and Europe.

IEPFA and SEBI Launch First "Niveshak Shivir" in Pune

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, in collaboration with the Securities and Exchange Board of India (SEBI), successfully launched the pilot chapter of Niveshak Shivir in Pune. The initiative is a part of IEPFA's continued mission to empower investors and strengthen financial literacy. The event marked a significant step in facilitating direct engagement with investors and addressing unresolved financial claims.
In line with IEPFA's broader investor outreach initiatives, Niveshak Shivir was conceptualised to assist investors in resolving pending issues related to unclaimed dividends and shares, updating KYC and nomination details, and facilitating faster settlements of claims – all under one roof.

Digant Sharma Joins Global Leaders at Europe-Asia Economic Summit in Davos

Digant Sharma joined an elite gathering of world leaders, policymakers, and innovators at the first edition of the Europe-Asia Economic Summit (EAES), held at the Davos Congress Centre. The global summit brought together more than 100 participants from academia, government, multinational corporations, and SMEs to explore the evolving intersection between artificial intelligence (AI) and sustainability, under the theme "AI and Sustainability." Hosted by the Executive Board of EAES, including: Ms. Aina Meng, Founder and President Mr. Andreas Benoit, Executive Board Member Mr. Pedro R. Mor, Executive Board Member Mr. Sharma was part of high-level strategic discussions that prioritised cross-border collaboration between Europe and Asia, with a focus on building smart, sustainable ecosystems and accelerating the global energy transition.

Chairman-CEO of EY India Rajiv Memani Assumes CII Presidency for 2025-26

The newly constituted national council of Confederation of Indian Industry (CII) at a meeting elected its new office bearers for the year 2025-26. Rajiv Memani, Chairman and CEO of EY India assumed office as the President of CII for 2025-26.
He took over from Sanjiv Puri, Chairman and Managing Director of ITC Ltd.
Memani is also a member of EY Global Executive Board as the Chair of its Growth Markets Council.

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