Current Affairs - Business

REC Limited, a Maharatna non-banking financial company, received the SKOCH Silver Award 2025 for 'Corporate Net Zero Transition,' marking its third ESG recognition in 2026. The award highlights REC Limited’s commitment to supporting India’s net-zero and climate transition goals through sustainable financing. As a key financier of power and infrastructure projects, including renewable energy and non-power infrastructure, REC aligns its lending with environmentally responsible practices. This recognition underscores the company’s efforts in promoting sustainable development, facilitating the transition to low-carbon infrastructure, and reinforcing its leadership role in ESG and climate-focused corporate initiatives.

Malaysia Airlines partnered with the Mumbai Indians as their Associate Sponsor and Official Global Airline Partner to strengthen its brand presence in India and international markets. The collaboration was launched with a symbolic release of 100 Wau Bulan kites in Mumbai during Makar Sankranti. By partnering with a franchise that has over 55 million fans, Malaysia Airlines aims to enhance its hospitality offerings, engage diverse audiences, and leverage the global appeal of the Indian Premier League to boost its brand visibility and market reach.

Ola Electric has expanded its operations beyond electric vehicles by launching the ‘Shakti’ home battery energy storage system (BESS), manufactured at its Krishnagiri Gigafactory in Tamil Nadu. The system provides reliable power backup for homes, farms, and small businesses, supports fast charging, and comes in multiple configurations to meet varied energy needs. With IP67-rated batteries and support for appliances like air conditioners and farm pumps, Shakti addresses India’s growing demand for decentralised and clean energy solutions. This launch positions Ola as a key player in India’s residential energy storage market and contributes to the country’s clean energy transition.

Bharat Petroleum Corporation Ltd is the public sector undertaking responsible for awarding major refinery contracts to Technip Energies. These contracts are part of BPCL’s broader petrochemical expansion and refinery modernization strategy. At the Bina refinery in Madhya Pradesh, the EPCC contract covers the establishment of polypropylene and Butene-1 units, enhancing petrochemical output. At the Mumbai refinery, an EPCM contract was awarded for India’s first 3 MMTPA PRFCC unit, which will convert heavy residues into high-value products. These projects strengthen refining efficiency, value addition, and energy infrastructure development.

The DigiProtect Term Plan is a collaborative initiative designed to expand digital insurance access, especially among salaried individuals in Tier 2 and Tier 3 cities. The plan combines PNB MetLife’s insurance expertise with the digital distribution strength of Policybazaar. It offers features such as flexible payout options, a premium break facility, special exit value, and fast-track claim settlement. Additional benefits like up to 21% first-year premium discount and an express claim payout of ₹3 lakh within one working day highlight the customer-centric approach of the partnership, making Policybazaar a key enabler in the product’s launch.