General Awareness

BUSINESS AND ECONOMY - May 2026

May 2026

Jul 02, 2026

Eurobank Launches UPI Cross-Border Remittance to India

In June 2026, Eurobank launched a UPI‑based cross‑border remittance service enabling money transfers from Greece to India. The move makes Eurobank the first European bank to activate such a UPI facility, developed in collaboration with NPCI International Payments Limited (NIPL), the global arm of the National Payments Corporation of India. The service aims to reduce transfer times and costs for Indian residents with accounts in Greece and to expand digital payment connectivity between Europe and India. Market observers expect the initiative to catalyse further adoption of UPI across international remittance corridors.

Eurobank becomes first European bank with UPI-based Greece–India remittance.
Collaboration with NPCI International Payments Limited (NIPL).
Aims to lower transfer times and costs for users.
Expands India's digital payment reach in Europe.

Jun 30, 2026

HDFC Bank Names Rajiv Kumar as Part-Time Chairman

HDFC Bank announced the appointment of Rajiv Kumar, former Finance Secretary and former Chief Election Commissioner, as part-time chairman in June 2026. The move marks a leadership shift at India’s largest private sector lender. Kumar’s extensive governance and financial experience is expected to strengthen the bank’s governance framework and risk management. The appointment received board and regulatory approvals in June 2026, and he will balance duties with other roles while guiding strategy and stakeholder relations. The bank stated the change would support continuity and enhanced oversight in a dynamic banking environment.

Appointment: Rajiv Kumar as part-time chairman
Past roles: Finance Secretary, Chief Election Commissioner
Date: June 2026
Expected impact: stronger governance and risk oversight
Context: leadership change at HDFC Bank
Note: regulatory approvals completed

Jun 29, 2026

Prabhjeet Singh resigns as Uber India and South Asia president

Prabhjeet Singh resigned as President of Uber India and South Asia on 26 June 2026 after more than a decade with the company. Reports indicate he will join OpenAI as India Managing Director, marking a major leadership shift in India’s tech and mobility sector. Uber India acknowledged his contributions while signaling a search for a successor. The move aligns with a broader pattern of executive changes in tech firms. The resignation and subsequent OpenAI appointment were widely reported by multiple outlets on 26–27 June 2026, highlighting India’s evolving leadership landscape in digital platforms.

Resignation date: 26 June 2026.
Role: President of Uber India and South Asia.
Next role: India Managing Director at OpenAI.
Significance: major leadership shift in India’s tech mobility sector.
Source reports: Indian media coverage in late June 2026.

Jun 27, 2026

RIL tops Hurun India 500 for fifth year; private sector valued at $3.4 trillion

Axis Bank Burgundy Private has released its analysis of India's Hurun India 500 list. The study shows Reliance Industries Limited (RIL) maintaining its position as India's most valuable company for the fifth consecutive year. Together, the top 500 private firms carry an estimated value of about 3.4 trillion US dollars, highlighting the expanding size of India's private sector. HDFC Bank and Bharti Airtel are among other leading names in the ranking, reflecting strength in financial services and telecommunications. The report notes continued growth in consumer and technology segments, with exposure to digital platforms and new business models shaping valuations across industries.

RIL remains India's most valuable company for fifth year.
Top 500 private firms valued at about $3.4 trillion.
HDFC Bank and Bharti Airtel among leaders.
Growth driven by consumer, technology, and digital platforms.

Jun 25, 2026

Jonnagiri Gold Mine Begins Commercial Operations in Andhra Pradesh

The Jonnagiri Gold Mine in Kurnool district, Andhra Pradesh, began commercial operations in June 2026. Described as India’s first operational private‑sector primary gold mine since Independence, the Rs. 405 crore open‑pit project aims to strengthen domestic gold production and reduce imports. Initial annual output is targeted at about 400 kilograms, with plans to scale to nearly one tonne as the operation matures. The mine adopts modern extraction and processing methods and is expected to generate local employment and boost regional development while complying with environmental and statutory norms. The development signals a milestone for private mining and India’s mineral value chain in the coming years.

Location: Jonnagiri, Kurnool district, Andhra Pradesh
Project cost: Rs 405 crore; open-pit operation
Initial output: ~400 kg/year; target ~1,000 kg/year later
Significance: India’s first private-sector primary gold mine since independence
Regulatory/compliance: environmental and statutory norms upheld

Odisha Exports Dried Egg Powder to Austria

Odisha marked its first commercial export of dried whole egg powder to Austria in June 2026. A 22.6‑metric‑tonne shipment from Balangir, produced by OVO Farm Pvt. Ltd. and facilitated by APEDA, showcased India’s value‑added agricultural exports. The export aligns with government aims to diversify agri‑exports and expand processed food industries. APEDA’s support through registration, market access assistance, and export promotion activities helped complete the deal. The shipment is expected to encourage further international buyers and push broader development of Odisha’s agro‑processing sector, creating rural employment in addition to strengthening India’s presence in European markets.

Shipment: 22.6 metric tonnes to Austria
Origin: Balangir, Odisha; exporter: OVO Farm Pvt. Ltd.
Facilitator: APEDA; date: June 2026
Significance: first commercial egg powder export from Odisha
Impact: value‑added exports; rural employment potential

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