Tag: Buisness

Paytm Tops UPI Payments With Over 33% Market Share

Alibaba and SoftBank-backed Paytm registered over 137 million UPI transactions in September, becoming the leading contributor to Unified Payments Interface (UPI) payments with over 33% of the overall market share.
One97 Communications Limited, that owns the brand Paytm,  is enabling BHIM UPI for offline payments and over five million offline merchants, out of its 9.5 million merchant-base, now accept Paytm UPI.
Source- Times Now
Static/Current Takeaways Important for SBI Clerk Mains Exam 2018- 
  • Paytm founder– Vijay Shekhar Sharma 

HCL Technologies displaces Wipro as India’s third largest IT services firm

HCL Technologies Ltd surpassed Wipro Ltd to become India’s third-biggest software services firm in the three months, marking the first change in the pecking order of the country’s $167 billion information technology (IT) outsourcing industry in six years. 
Noida-based HCL Technologies announced that its dollar revenue increased 0.8% to $2.05 billion in the quarter ended 30 June from the preceding three months. Bengaluru-based Wipro’s dollar revenue declined 1.7% sequentially to $2.03 billion in the first quarter.
Source- The Livemint

Amazon, 2nd Company To Hit $900 billion Valuation After Apple

E-commerce giant Amazon briefly crossed $900-billion market cap for the first time in its history becoming only the second company after Apple to achieve this milestone. 
This comes after Amazon announced it sold over 100 million products during its Prime Day sale. Apple is currently the world’s most valuable company with a market cap of $935 billion. 
Source- The Reuters

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018- 
  • Amazon is a US based company which was Founded by Jeff Bezos. 
  • It was founded in 1994. 

RIL World’s 3rd Largest Energy Firm: Platts Rankings


Reliance Industries Ltd (RIL) is the world’s third-biggest energy company behind Russian gas firm Gazprom and German utility E.ON, according to Platts Top 250 Global Energy Company Rankings.

State-owned Indian Oil Corp (IOC) climbed to 7th position in the 2017 ranking, up from 14th rank in 2016. Oil and Natural Gas Corp (ONGC) was placed at 11th position in 2017 as against 20th in 2016. Coal India Ltd, the world’s largest coal producer, was the only Indian firm to have slipped in the ranking – 45 in 2017.
Important Takeaways from Above News-

  • Russia’s Gazprom snagged the number 1 spot, ending US oil and gas giant ExxonMobil’s 12-year reign at the top of the list.
Source- Livemint

Tata Steel, Thyssenkrupp Sign MoU for European Steel JV

Tata Steel and Thyssenkrupp of Germany have signed a Memorandum of Understanding (MoU) in a deal that is poised to create one of Europe’s largest steel companies. The two partners have been in merger talks for more than a year.

They will form a 50:50 joint venture to create a powerful No. 2 in the European steel market. The merger will lead to substantial cost savings for both steel players. 

Important Takeaways from Above News-

  • Natarajan Chandrasekaran is the Chairman of Tata Steel.
  • Dr. Heinrich Hiesinger is the CEO of Thyssenkrupp.

Amazon’s Largest Fulfilment Center in Hyderabad

Amazon opened its largest fulfilment centre in India on the outskirts of Hyderabad, near the Rajiv Gandhi International Airport, Shamshabad.

The 400,000 sq feet centre with close of 2.1 million cubic feet of storage space is the 5th such centre in Telangana. With this, the US major has ramped up its storage capacity to 3.2 million cubic feet in the State alone.

Important Takeaways from Above News-
  • Jeff Bezos was the Founder of Amazon.
  • Amazon is an e-commerce company based in the USA.
Source- The Hindu

MobiKwik Partners Bajaj Finance for Larger Financial Services Pie

Mobile wallet major MobiKwik has entered into a strategic partnership with Bajaj Finance to transform itself into a financial services app from a payments app at present.


Under this partnership, Bajaj Finance has picked up 10.83 per cent equity stake in MobiKwik for about ₹225 crore and offer its lending (purchase finance, credit card, mortgage loans and personal loans) and insurance products to be sold through the MobiKwik app.

Important Takeaways from Above News-
  • Chairman and MD of Airtel is Sunil Bharti Mittal.
Source-  The Hindu

Baba Ramdev’s Patanjali Teams Up With Facebook, Google for Online Advertisement Push


Patanjali Ayurved Ltd., the herbal products manufacturer founded by yoga guru Baba Ramdev collaborates with Google and Facebook, Patanjali is for the first time investing in advertisements tailored for online audiences.


By June, views for Patanjali on YouTube climbed to 15 crore from 30 lakh, according to the official. Searches for Patanjali products on Google have gone up 11 times in the past four years and three-fold over the past three years.

Important Takeaways from Above News-
  • Manufacturing units and headquarters of Patanjali are located in the industrial area of Haridwar.
Source-  The Economic Times

Lockheed Martin signs pact with Tata to make F-16 planes in India

The defence arm of the Tata Group has signed an agreement with American firm Lockheed Martin to produce and export new generation F-16 fighter aircraft, potentially kick-starting a mega ‘Make in India’ project.

The agreement has been signed at the Paris Airshow, Lockheed to produce F-16 fighter planes in India. It is the newest and most advanced version of the world’s most successful, combat-proven multi-role fighter.
Important Takeaways from Above News-

  • TATA Advanced Systems is the defence arm of TATA.
  • S Ramadorai is the Chairman of TATA Advanced Systems.
  • Sukaran Singh is the CEO & Managing Director of TATA Advanced Systems.
Source- The Hindu

Sebi allows investors to buy mutual funds via digital wallet


Markets regulator Security and Exchange board of India (Sebi) allowed investors to buy mutual fund schemes for up to Rs 50,000 through digital wallets, making it easier for them especially the young generation to purchase these instruments.

Besides, MF houses or asset management companies (AMCs) have been allowed to provide instant online access facility to resident individual investors in liquid schemes. The move is part of the efforts to promote digital payments in the MF industry and channelise household savings into the capital market.

Important Takeaways from above News for BOB PO Exam-
  • The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.
  • Chairman of SEBI is Ajay Tyagi after replacing of U.K. Sinha
  • Sebi headquarter is in Mumbai.
Source- The Hindu

 If you have any other takeaways, do share with us in the comment section