Current Affairs - Business

Hinduja Group's IIHL has received approval from IRDAI to acquire Reliance Capital's insurance arms, comprising Reliance General Insurance and Reliance Nippon Life Insurance. This acquisition is part of a substantial resolution plan worth Rs 9,650 crore. The IRDAI approval, obtained on May 10, 2024, is a crucial regulatory milestone, paving the way for the transfer of Reliance Capital's insurance businesses to IIHL and reinforcing the acquisition process.

TCS, along with Tejas Networks and government-owned ITI, has secured orders worth approximately Rs 19,000 crore from BSNL for deploying its indigenous 4G network across India. This initiative is part of BSNL's plan to enhance its services and upgrade its network infrastructure to support advanced technologies like 5G in the future.

Hindalco Industries, a leading industry group, has collaborated with the Indian Coast Guard (ICG) to promote the manufacturing and supply of indigenous marine-grade aluminium for shipbuilding. This collaboration formalized through a Memorandum of Understanding (MoU), aims to enhance India's self-reliance in the shipbuilding sector and support coastal security operations by providing high-quality aluminium for constructing ships designed for shallow water operations.

Adani Green Energy has signed a 20-year power purchase deal for wind power stations with Sri Lanka, as approved by the Sri Lankan government. This agreement reflects the company's engagement in renewable energy projects in Sri Lanka.

Amul, the renowned Indian dairy giant, has been chosen as the Lead Arm sponsor for the USA and South Africa cricket teams during the upcoming T20 World Cup in June. This sponsorship is significant as it reflects Amul's global presence and its support for sports, particularly cricket, showcasing its commitment to promoting sportsmanship and healthy lifestyles.