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General Awareness

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BUSINESS AND ECONOMY - October 2025

Oct 2025

Oct 01, 2025

Asheesh Pandey Named as MD of Union Bank

  • The government, in 2025, appointed Asheesh Pandey as managing director (MD) and CEO of Union Bank of India for a period of three years.
  • The Appointments Committee of the Cabinet headed by the Prime Minister approved the appointment for an initial period of three years.
  • Pandey, currently Executive Director of Bank of Maharashtra, has been appointed as MD and CEO of Union Bank of India for a period of three years with effect from date of assumption of charge of the office.
  • UBI has been headless since A Manimekhalai, MD & CEO, completed her tenure on June 02, 2025.

RITES Signs MoU With Etihad Rail to Boost Mobility Collaboration

  • RITES Limited, India's leading transport infrastructure consultancy and engineering firm, signed a memorandum of understanding with Etihad Rail to strengthen business collaboration in the mobility sector across the UAE and international markets. The agreement was formalised at the Global Rail Transport Infrastructure Exhibition and Conference in Abu Dhabi, running from September 30 to October 2, 2025.
  • The MoU was signed by Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Director of RITES Limited, in the presence of SheikhTheyab Bin Mohammed Bin Zayed Al-Nahyan Chairman of Etihad Rail and Sunjay Sudhir, Ambassador of India to the UAE. Under this partnership, RITES will collaborate with National Infrastructure Construction Company (NICC) LLC, a  its subsidiary of Etihad Rail, to explore business opportunities in the region and beyond.
  • The collaboration aims to combine RITES' five decades of expertise in consultancy, transport infrastructure, and engineering solutions with NICC's execution capabilities, creating synergies for developing infrastructure projects across the region. This partnership strengthens RITES' international presence under its strategic initiative 'RITES Videsh' and reinforces the company's commitment to shaping infrastructure that transforms lives.

Bollywood Badshah Shah Rukh Khan Enters Billionaire Club With Rs. 12,490 cr

  • Bollywood superstar Shah Rukh Khan (59) joined the billionaire club, marking a historic milestone for India's entertainment industry. According to the 2025 M3M Hurun India Rich List, Shah Rukh Khan & family top the list of film industry moguls with a net worth of Rs. 12,490 crore.
  • His wealth is largely powered by the diversified ventures of Red Chillies Entertainment, which includes film production, visual effects, digital content, and licensing of iconic film properties. Over the decades, SRK has transitioned from a charismatic actor to a shrewd entrepreneur, turning his brand into a multi-faceted empire that spans cinema, sports, and lifestyle businesses.

Conscient Infrastructure Appoints Rishi Raj as Chief Executive Officer

  • Real estate developer Conscient Infrastructure Private Limited (CIPL) appointed Rishi Raj as Chief Executive Officer.
  • Raj will lead Conscient's expansion across residential, commercial, and mixed-use real estate development.
  • Earlier, Raj worked within the Max Group and at McKinsey & Company. He has over 25 years of varied leadership experience, including research, consulting, business-building and corporate strategy

Jindal Power Gets CCI Nod to Acquire Debt-ridden Jaiprakash Associates

  • Fair trade regulator CCI, in September 2025, has given in-principle approval to Naveen Jindal-led Jindal Power's proposal to acquire debt-ridden Jaiprakash Associates, should it win a bid in the ongoing insolvency proceeding.
  • Apart from Jindal Power, the proposals of PNC Infratech, Adani Group and Dalmia Bharat for JAL acquisition have been cleared by the regulator.
  • Following a recent ruling by the Supreme Court related to interpreting provisions of the Insolvency and Bankruptcy Code (IBC), an approval from the competition watchdog is mandatory for submission of a resolution plan by the entity concerned.
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