Business & Finance - Current Affairs for February, 2015

Business & Finance Current Affairs for February, 2015

Month wise coverage of Business & Finance Current Affairs helps you improve your general knowledge and prepare for all competitive exams like IBPS, Bank PO, SBI PO, RRB, RBI, LIC, Specialist Officer, Clerk, SSC, UPSC, Railway etc. This section is updated daily with the most important events.

Preparing Business & Finance Current Affairs February, 2015

1. Read the most important Business & Finance Current affairs and facts here. 2. Take practice test of our Business & Finance MCQ and Objective type questions. 3. Clear any quiz, GK, job interview or competitive exam on current affairs.
  • Month & Year   
▼ Forwards Market Commission to be merged with SEBI   [02-27-15]

Forward Market Commission functions with Mumbai as the head office and was established in 1953. This was brought under finance sector in 2013. There are four national level and six regional level exchanges related to commodity futures in India.

▼ Battle field Management System- project led by TATA Power and Bharat Electrical's Limited consortia   [02-27-15]

The BMS project, categorized as a “Make” programme under the defence procurement procedure (DPP), will be one of the largest indigenous solutions offered to Indian defence.

▼ Royal Bank of Scotland closes operations in India   [02-27-15]

The bank has decided to close its banking operations in India but will be retaining the back office.

▼ CSIR wins international competition to adopt wax de-oiling technology   [02-27-15]

The Wax Deoiling Plant based on such indigenously developed technology is set up with an investment of 750 crore rupees at NRL - a subsidiary of Bharat Petroleum Corporation Limited (BPCL) - situated in north-east part of India. CSIR through its constituent laboratory Indian Institute of Petroleum (IIP), Dehradun, in association with the Engineers India Ltd (EIL) has won the international competition.

▼ CCZCC chairman Mani Shankar Ayar resigns on 27thFebruary 2015   [02-27-15]

In an order dated 23rd Feb’15, the Ministry of Culture has stated that the resignation of Shri Mani Shankar Aiyar dated 17th May, 2014 has been accepted by the Government. The order states that the Government has also decided to wind up the CCZCC w.e.f. 16th December, 2014 since all the recommendations made by Shri Mani Shankar Aiyar Committee and CCZCC stands accepted and implemented/being implemented.

▼ TRANSLOC- New PSU to provide end to end solutions introduced in Rail Budget 2015-2016   [02-27-15]

TRASNSLOC or Transport Logistic Corporation of India (TLCI).

▼ NFL, FCI and EI form JV Ramagundam Fertilizers and Chemicals Limited   [02-27-15]

The estimated cost of the project to be implemented by the company is Rs.5,000 crore.

▼ Fashion Portal Exclusively Dot Com Acquired by Snapdeal   [02-24-15]

With this acquisition, aims to further strengthen its fashion business and reach 2 billion US dollars in gross merchandise value in the fashion category in 2015.

▼ Single window e-Biz portals for 11 departments of the Indian government launched   [02-24-15]

The portal will provide four services from Ministry of Corporate Affairs, two services of Central Board of Direct Taxes, two services of Reserve Bank of India and one service each from Directorate General of Foreign Trade, Employees Provident Fund Organization and Petroleum and explosives Safety Organization. A business user can avail the service any time from now onwards.

▼ GE opens first manufacturing plant in Pune   [02-24-15]

Fifty per cent of the products manufactured from this unit will be exported to other GE global sites. General Electric’s Chakan-based multi-modal facility will support GE’s global operations as well as cater to the growing demand from the Indian market.

▼ Savlon and Shower to Shower brand of J&J acquired by ITC   [02-24-15]

ITC has entered into asset purchase agreements with Johnson & Johnson Ltd, India, and Johnson & Johnson Pte Ltd, Singapore for the purchase of the ‘Savlon’ and ‘Shower To Shower’ trademarks and other intellectual property, primarily for use in India.

▼ Aditya Birla Chemicals merges with Grasim Industries Ltd in February 2015   [02-24-15]

The board of Directors of Grasim Industries Ltd. has recently approved the proposed merger of Aditya Birla Chemical Ltd with Grasim Industries.

▼ Apple Inc becomes only company in world to touch valuation of USD 700 billion   [02-24-15]

Apple has double market value compared to other tech giants including Oracle, IBM, Google, Microsoft etc.

▼ Star India Pvt Ltd Acquires Maa Television Network Limited   [02-24-15]

With this acquisition, Star India will get access to the Telugu TV market, the second largest regional market in India in terms of revenue potential.

▼ Sunrise Acquired by Microsoft for USD 100 million   [02-24-15]

Sunrise is the maker of one of the top calendar apps for iOS and Android. It currently supports Gmail accounts and Facebook events / birthdays from the social network.

▼ Make in India- Main theme of Aero India Show 2015   [02-24-15]

Over 400 companies in Public and Private sector will display their products in the International Aerospace Exhibition during the show. The Indian made Light Combat Aircraft Tejas and Advanced Light Helicopter Dhruv will take part in the aerobatic display.

▼ FB announces collaboration with Reliance Communications to provide free internet   [02-24-15]

Under this partnership Facebook planned to launch the app in India.

▼ Government signs first bilteral procurement agreement with DVC   [02-24-15]

Under the agreement, Railways would buy 50 MW of power from DVC at Auraiya Grid Sub-station facilitated by Railways Energy Management Company Limited, a Joint Venture (JV) of Indian railway and RITES, a Railway Ministry PSU.

▼ Pfizer to acquire Hospira Inc   [02-24-15]

Hospira has a fast-growing biosimilars business in Europe.

▼ BSE shifts stocks of 53 companies to T trade of Trade Group   [02-24-15]

This move enables no speculative trading for ‘T’ group shares and delivery of shares and payment of consideration amount are mandatory.

▼ Lebanon entrepreneurs invite India to invest in food processing and cold chain industries   [02-23-15]

During the period 2013-14, India’s total export of agricultural commodities to Lebanon was US$ 69.41 million and during the same period agricultural import from Lebanon was US$ 0.47 million.

▼ Ant Financial Group acquired 25% stake in Paytm   [02-23-15]

Chinese e-commerce giant Alibaba’s online financial service company Ant Financial Services Group (Ant Financial) acquired 25% stake in Paytm Company.

▼ Micromax becomes No. 1 Smartphone seller in India   [02-23-15]

Micromax’s market stood at 22% while the leader till now Samsung stood at 20%.

▼ Prasar Bharati not allowed to share live feed of World Cup with other channels: HC verdict   [02-23-15]

The court passed the order on the plea of BCCI, ESPN and Star who had contended that cable TV operators were getting live feeds through DD channels free of cost, resulting in loss of revenue for them. It also refused to grant relief of striking down a 2000 notification issued by Prasar Bharati which made it mandatory for cable operators to carry DD National and DD News channels.

▼ $2,50000- New Limit under Foreign Remittance Scheme of RBI   [02-23-15]

Earlier the limit was $1,25,000 per year per person. Now it has increased to $2,50,000.

▼ SBI Bank and RIL collaborate to form payments bank license   [02-23-15]

Under this, Reliance will be the promoter of the payments bank entity while SBI will be joint venture partner with equity investment of up to 30%.