12/5/22, 8:29 PM Business affairs 2022 Part 3 – GKmojo

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Sashidhar Jagdishan to be the new CEO of HDFC Bank

Reserve Bank of India has approved the appointment of Sashidhar Jagdishan as the next
Chief Executive Officer (CEO) of HDFC Bank.
Jagdishan will replace Aditya Puri and take charge in October when Puri retires.
Aditya Puri was the CEO of HDFC Bank since September 1994. He is the longest-serving
head of any private bank in India.

WTF Sports appoints Suresh Raina, Harmanpreet Kaur as brand

ambassadors

A sports gaming platform, WTF Sports has appointed cricketers Harmanpreet Kaur and
Suresh Raina as its global brand ambassadors. Raina is also joining the brand as a
Strategic Partner. The announcement was made through a web conference.

The platform currently hosts three major sports, multiple playing modes, and exciting
contests, ensuring that sports fans can get more skilful letting them strategize and use
their sports knowledge into rewarding behaviour.

Paytm launched India’s 1st pocket android POS device

Paytm has launched India’s 1st Pocket Android POS (Point of Sale) Device named ‘Paytm
All-in-One Portable Android Smart POS’ for contactless ordering and payments in India.

‘Paytm All-in-One Portable Android Smart POS’ is the first such Android-based device to
be introduced in India and is much more powerful than the portable Linux based POS
devices presently available in the country.

It is an effort to digitise and empower a large number of Small and Medium Enterprises
(SMEs). The company aims to issue over 2 lakh devices within the next few months
which will generate over 20 million transactions per month.

Harbhajan Singh becomes new Brand Ambassador of eBikeGO

Amritsar based e-mobility start-up, eBikeGO has appointed Indian cricketer Harbhajan
Singh as its brand ambassador.

He will help the company to upgrade itself and will also have an active presence on the
company’s website and campaigns across media.

The company with this association and with the recently announced government’s new
Electric Vehicle (EV) policy aims to build mass appeal, positive voice and widespread
adoption for electric mobility there looking to capture 10% of electric two-wheeler
market share 2022.

Rohit Sharma appointed Oakley’s brand ambassador in India

Sports eyewear brand “Oakley” has appointed Indian cricketer, Rohit Sharma as its
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brand ambassador for a period of two years in India.

As a part of the partnership, Sharma will be sporting Oakley eyewear equipped with
patented Prizm technology created specifically for sports lenses.

Dream 11 wins title sponsorship rights of IPL 2020

The title sponsorship rights of Indian Premier League (IPL) 2020 has been bagged the
fantasy gaming start-up “Dream 11”.

The fantasy gaming start-up has bagged the title sponsorship rights for Rs 222 crore.

It has bagged the rights as Expression of Interest (EOI) was invited the Board of Control
for Cricket in India (BCCI) for IPL 2020’s title sponsorship after the Chinese mobile
phone brand, Vivo, pulled out of it.

The title rights bagged the fantasy gaming start-up “Dream 11” are valid till December 31,
2020.

RRVL acquires majority equity stake in Vitalic Health Pvt. Ltd.

Reliance Retail Ventures Limited (RRVL), wholly-owned subsidiary of Reliance

Industries Limited has acquired majority equity stake in Chennai-based Vitalic Health
Pvt. Ltd. as well as in its subsidiaries. Total transaction costed approximately Rs 620
crores.

Vitalic Health Pvt. Ltd. is engaged in the business of pharma distribution, sales, and
business support services, while its subsidiary runs an online pharmacy platform
“Netmeds” which connects customers to pharmacists and offers door step delivery of
medicines, nutritional health as well as wellness products.

The investment made Reliance Retail Ventures Limited represents 60% holding in the
equity share capital of Vitalic Health while 100% direct equity ownership of its
subsidiaries namely Tresara Health Private Limited, Netmeds Market Place Limited and
Dadha Pharma Distribution Pvt Limited. The investment will improve RRVL’s ability to
provide affordable health care products and services.

INOX Group becomes sponsor of Indian team for Tokyo Olympics

The governing body for the Olympic Movement in India, Indian Olympic Association
(IOA) and INOX Group has signed a sponsorship agreement to support Team India for
Tokyo Olympics, which was rescheduled to be held from July 23 to August 8, 2021.

The partnership agreement will further support team India’s promotions through the
Group’s entertainment company, Inox Leisure Limited.

The Inox Group is a diversified Indian conglomerate with activities spanning

manufacturing medical and industrial gases, cryogenic equipment, LNG storage and
distribution equipment, besides owning multiplex chains.

Google launches ‘Kormo’ app in India to help people find jobs

Google has launched its employment application named ‘Kormo Jobs’ in India.

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It would help millions of Indians to get entry-level jobs. Kormo Jobs will help to provide
entry-level jobs to thousands of people, to help those who have lost their jobs during the
coronavirus and young professionals who are looking for jobs.

Google had first launched the employment application in Bangladesh in 2018 and further
expanded it to Indonesia in 2019.

In 2019, Google had also tested this app in India but under the brand ‘Spot’ on Google
Pay app, which saw more than 2 million verified jobs posted on the platform, including
from companies like Zomato and Dunzo.

CCI approves proposed acquisition of C&S Electric Siemens

The proposed acquisition of C&S Electric Limited Siemens Limited has received the
approval of the Competition Commission of India (CCI).

The proposed combination envisions acquisition of 100% of the share capital of C&S
Electric Limited (C&S) Siemens Limited (Siemens India).

Siemens India supplies smart mobility solutions for rail as well as road transport,
including infrastructure solutions for Smart Cities.

It focuses on the areas of power generation and distribution along with intelligent
infrastructure for buildings and distributed energy systems.

While, C&S Electric Limited is engaged in the manufacturing of a range of electrical

switchgear, power protection and electrical distribution products.

It is also indulged in electrical contracting business which performs turn key solutions
for industrial and commercial electrification, substations and power plants.

Delhi Govt launches new “Electric Vehicle Policy”

Delhi government has launched the “Electric Vehicle Policy” for the national capital
under which will waive registration fee, road tax, and provide an incentive of up to ₹1.5
lakh for new cars.

The government aims to generate employment to give a boost to Delhi’s economy and
reduce pollution levels in the national capital.

There is already the Centre’s scheme on electric vehicles called ‘Fame India Phase-2’,
under which the Union government also provides some incentives. Delhi government
scheme will be an addition to the Centre’s scheme and people can also avail benefits
under both the schemes.

NITI Aayog releases report on Export Preparedness Index (EPI) 2020

NITI Aayog has released the report on Export Preparedness Index (EPI) 2020 in
partnership with the Institute of Competitiveness.

The report evaluates the export preparedness and performance of Indian states.

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It aims to identify the challenges and opportunities; improve the effectiveness of

government policies; and promote a facilitative regulatory framework.

Gujarat, Maharashtra and Tamil Nadu occupied the top three ranks in the Export
Preparedness Index (EPI) 2020.

India’s 1st International Women’s Trade Centre to be set up in Kerala

Kerala will establish the first international women’s trade centre (IWTC) of India at
Angamaly.

The IWTC would be set Kerala in consonance with the United Nations Sustainable
Development Goals (SDGs).

The IWTC seeks to accelerate the women entrepreneurship and secure gender parity. It
will also offer a safe place away from home to women to start new businesses, set up or
expand, and get their products marketed globally.

IWTC will also enable women entrepreneurs to participate in international trade, and
enhance their competitiveness to tap market opportunities. Hence, it will enable women
to enjoy greater economic benefits.

Forbes magazine released “The Highest-Paid Actors Of 2020” list

Forbes magazine has released “The Highest-Paid Actors Of 2020” list. Bollywood actor,
Akshay Kumar is the only Indian star to be listed among the top 10 world’s highest-paid
actors of 2020.

With total earnings of $48.5 million. Akshay is placed at sixth place in the list. Most of
his income came from product endorsements.

The list takes into account the earnings between June 1, 2019, and June 1, 2020.

The list has been topped Wrestler-turned-movie star Dwayne Johnson, for a second
straight year, with the total earning of $87.5 million. Johnson is also known his ring
name The Rock.

RRVL acquired Future Group for Rs.24,713 crore

On 30th August 2020, The Reliance Retail Ventures Limited (RRVL), subsidiary of the
Reliance Industries Limited (RIL) acquired the retail and wholesale, logistics and
warehousing business of the Future Group Business as going concerns on a slump sale
basis for lump sum aggregate consideration of Rs 24,713 crore.

Fortune 500 list 2020

Billionaire Mukesh Ambani’s Reliance Industries has jumped 10 places to break into the
world’s top 100 companies on the Fortune Global 500 list. The oil-to-telecom
conglomerate is ranked 96th in the 2020 ranking released Fortune. This is the highest
any Indian company has been ranked on the Fortune Global 500 list.

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Roshni Nadar Malhotra becomes new chairman of HCL Tech

India’s wealthiest woman, Roshni Nadar Malhotra becomes the new chairman of Noida-
based IT company, HCL Technologies.

The appointment of non-executive director Roshni Nadar Malhotra to the new role takes
effect immediately. She will replace her father, Shiv Nadar. Shiv Nadar will continue to
be HCL Tech’s managing director, with the designation as the chief strategy officer.

Mobikwik launches personal UPI payment link mpay.me

Digital wallet company, Mobikwik has launched “mpay.me” UPI link service that allows
users to send and receive money from any UPI payment app.

This single link created using mpay.me can be shared anywhere to send and receive
money and will work seamlessly on mobile as well as desktop.

Brett Lee becomes brand ambassador of SportsAdda

Former Australian fast bowler and cricket legend Brett Lee has been signed SportsAdda
as its brand ambassador.

SportsAdda is an Indian news and information platform that provides all updates,
insights and statistics for cricket, football, and kabaddi.

US remains India’s top trading partner in FY 2019-20

According to the data of the Union Ministry of Commerce, United States remained
India’s top trading partner for the second consecutive fiscal in 2019-20.

The recently released data shows increasing economic ties between the two nations.

As per the data, the bilateral trade between the US and India has increased from $87.96
billion in 2018-19 to $88.75 billion in the fiscal year 2019-20.

China was India’s top trading partner since 2013-14 to 2017-18.

India becomes second-largest foreign investor in UK

India has become the second-largest source of foreign direct investment (FDI) in the
United Kingdom.

As per the new data released the UK government in Department for International Trade
(DIT) inward investment statistics for 2019-2020, India invested in 120 projects and
created 5,429 new jobs in the UK. According to the data, United States delivered 462
projects and 20,131 jobs and hence remains the number one source of FDI for the UK.

In the standings, India was followed Germany, France and China, and Hong Kong.

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