Current Affairs - Business

The Ministry of Defence achieved a procurement milestone of ₹1 Lakh Crore through the Government e-Marketplace (GeM) platform, emphasizing its commitment to efficient spending and procurement practices, especially for Micro and Small Enterprises (MSEs).

LIC, the Life Insurance Corporation of India, has increased its shareholding in SBI Cards & Payments Services Limited from 4.99% to 5.02% through open market purchases. This move signifies LIC's enhanced ownership in the non-banking financial company.

Reliance Industries Limited (RIL) achieved a historic milestone by crossing the ₹20-lakh crore market capitalization threshold, making it the first company on Indian stock exchanges to reach this valuation. This achievement underscores RIL's robust performance across its business divisions and favourable market conditions.

The Uttar Pradesh government intends to sign a memorandum of understanding (MoU) with IIT Roorkee to enhance disaster management efforts. This collaboration aims to minimize casualties and improve disaster preparedness by providing specialized training to personnel and researching disaster root causes.

Paytm E-commerce has rebranded itself as Pai Platforms, following approval from the Registrar of Companies. This transformation aligns with the company's strategic evolution and includes the acquisition of Bitsila, a significant move within the digital commerce landscape.