G.k. business news (IIFT,SNAP,CMAT)-2

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  • NTPC to shift Odisha project to Madhya Pradesh
NTPC, which had proposed to invest over Rs.11,000 crore in a new 1,600 MW coal-based project at
Gajmara in Odisha has decided to relocate it to Gadarwara in Madhya Pradesh,
  • DRL launches Zoledronic acid injection in U.S.

Dr. Reddy’s Laboratories (DRL) has launched Zoledronic Acid injection (5 mg/100 ml), a therapeutic
equivalent generic version of Reclast injection, in the U.S. Markets.
  • S. Gopalakrishnan is CII President
Infosys co-founder and co-Chairman S. Gopalakrishnan has taken over as President of Confederation of
Indian Industry (CII) for 2013-14, succeeding Godrej Group Chairman Adi Godrej.
  • Foreign tourists can use credit cards to get rupees
Tourists or visitors from abroad can now use their debit or credit cards to obtain Indian rupees. The Reserve
Bank of India has decided to let authorised money changers (AMCs) to sell Indian rupees to foreign tourists
  • India Inc second in Asia in raising funds through overseas bonds
India Inc has taken second position among Asian countries in terms of funds raised through overseas bonds
in 2013 next only to China. Indian companies in January-March 2013 period were able mop up a record 16%
  • Desi card RuPay gets global access
The National Payments Corporation of India (NPCI), which plans to rival Visa and MasterCard with its own
RuPay Card, has got a leg up in its plans to provide international access to future RuPay cardholders
following a tie-up with Discover Financial Services.

  • Krishnakumar Natarajan is new Chairman of Nasscom

Mindtree’s Managing Director and CEO Krishnakumar Natarajan took over as Nasscom Chairman for the
year 2013-14. Mr. Natarajan succeeds N Chandrasekaran, MD and CEO of TCS, who served as the
Chairman for the year 2012-13.
  • UAE's Sharjah Islamic Bank launches $500 million sukuk

Sharjah Islamic Bank launched the sale of a $500 million sharia-compliant bond, or sukuk, at a profit rate of
2.95 percent. Abu Dhabi's Al Hilal Bank, HSBC Holdings, Kuwait's Liquidity Management House, a unit of
Kuwait Finance House , and Standard Chartered Plc are mandated lead arrangers on the sukuk.
  • Virgin America ranked best, United ranked worst US airline

Virgin America has been named the best airline and United Airlines the worst in a survey of airline
performance in the US.
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  • Pact signed for Rs. 5000-crore fertilizer plant in Tripura
The Tripura government, Oil and Natural Gas Corporation (ONGC) and a private company signed a tripartite
agreement to establish a huge urea fertilizer plant in the State.

  • TCS to buy French IT firm for Rs.530 cr
Tata Consultancy Services (TCS), has announced that it had signed definitive agreements to acquire 100 per
cent equity in Alti SA, an IT services company in France. The deal, valued at 75 million euro (around Rs.530
crore), is an all-cash transaction.

  • Cairn India makes new oil discovery in Rajasthan block
Cairn India, has announced that it had made the 26th oil discovery in its Rajasthan block. The block
management committee had approved the exploration work programme for the RJ-ON-90/1 block on
February 14
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