- Appointments and Resignation
- Santhosh Iyer was appointed as the Managing Director and Chief Executive of Mercedes Benz India. He will succeed Martin Schwenk who moves to Thailand as its MD and CEO after successful four years in India. He is currently the Vice President of sales and marketing. Santhosh Iyer is the youngest and first Indian to lead the operations of the German carmaker in India. His appointment will be effective from 1 January 2023.
- Harsh Shah stepped down from the position of CEO of New York Stock Exchange-listed renewable energy company Azure Power. The company appointed Rupesh Agarwal as the acting CEO. Rupesh Agarwal joined Azure recently in the capacity of Chief Strategy & Commercial Officer.
- The Indian Olympics Association (IOA) has co-opted Adille Sumariwalla as the president of the association till fresh elections are held. The erstwhile President of IOA Narinder Dhruv Batra resigned from the post on July 18 citing personal reasons.
- Exotel, a customer engagement platform appoints former Airtel executive Angira Agrawal as global SVP of go to market and strategy. He has worked at Airtel, Skylo, Vodafone, NEC, Tata Communications, Persistent, Oracle, and Unimobile (a bulk SMS startup).
- Science and Technology
- Defence Research and Development Organisation (DRDO) successfully conducted the trials of made-in-India-enhanced Pinaka rockets from Balasore and Pokhran. DRDO also confirmed the trials of the Advanced Tower Artillery Gun System (ATAGS) being successfully conducted at Pokhran Field Firing Range(PFFR).
- National Aeronautics and Space Administration (NASA) is set for its long-awaited debut launch of a next-generation rocketship on an uncrewed, six-week test flight around the moon and back. This marks the first mission of the space agency's Artemis program.
- Banking and Finance
- Parasol Chemicals has received the Securities and Exchange board of India (SEBI) approval to raise Rs 800 crore through Initial Public Offering (IPO). The IPO comprises fresh issue of equity shares aggregating up to Rs 250 crore and an Offer-For-Sale (OFS) of up to 90 lakh equity shares by existing shareholders.
- Axis bank is expected to pay Rs 12,325 crore to Citibank in the January-March quarter for the purchase of the US banker's customer business in India. The deal was announced in March this year. In March this year Axis bank agreed to acquire Citi's India retail business totaling about Rs 27,400 crore. Axis bank will also acquire Citi's deposit of Rs 50,200 crore.
- Obituaries
- Economist and former Planning Commission member and one of the country's foremost expert on rural economy Abhijit Sen died due to heart attack at the age of 72. In his career he has taught economics at the Jawaharlal Nehru University in New Delhi and also hold the position of chair of the Commission of Agricultural Cost and Prices. He was a member of the planning commission from 2004 to 2014.
- Important Days
- August 30 - National Small Industry Day
- The day recognizes the contribution of small industries to the country's growth. The day is an opportunity for central and state governments to encourage and support small industries.
- Odisha government to set up MSME parks
- Ambulances in Kerala to get GPS based tracking device
- RBI imposes penalty on 8 cooperative banks
- S Jaishankar to visit UAE for India-UAE Strategic Dialogue
Question:
Q.1 Which bank is expected to pay Rs 12,325 crore to Citibank for the purchase of the US banker's customer business in India?
a. Federal Bank
b. Yes Bank
c. Axis Bank
d. ICICI Bank
a. Federal Bank
b. Yes Bank
c. Axis Bank
d. ICICI Bank
