SBI Current Affairs - 2019
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In the latest released Forbes ‘Global 2000’ list, Mukesh Ambani-led Reliance Industries leads the set of 54 Indian companies in the annual list of the world’s 2000 largest and most powerful public companies. The top three positions of the list is occupied by the Chinese companies.
The Forbes ‘Global 2000’ is a comprehensive list of the world’s largest, most powerful public companies, as measured by revenues, profits, assets and market value.
Some notable points from Forbes ‘Global 2000’:
- World’s top three biggest public companies and five of the top 10 are from China.
- 564 companies enlisted are from the US which marks its dominance as the country with the most Global 2000 companies.
- Japan follows the US with 225 companies in total.
- India is home to 54 of the world’s biggest companies.
- Reliance Industries, with a market value of $ 50.9 billion and $ 72.8 billion in sales, ranked 135.
- State Bank of India ranked 155 with a $ 23.6 billion market value.
Some other Indian companies making it to the list are: Oil and Natural Gas ranked 176, ICICI Bank (304), Tata Motors (332), Indian Oil (416), HDFC Bank (422), Coal India (428), Larsen & Toubro (500), Tata Consultancy Services (543), Bharti Airtel (625), Axis Bank (630), Infosys (727), Bank of Baroda (801), Mahindra & Mahindra (803), ITC (830), Wipro (849), Bharat Heavy Electricals (873), GAIL India (955), Tata Steel (983), Power Grid of India (1011), Bharat Petroleum (1045), HCL Technologies (1153), Hindustan Petroleum (1211), Adani Enterprises (1233), Kotak Mahindra Bank (1255), Sun Pharma Industries (1294), Steel Authority of India (1329), Bajaj Auto (1499), Hero Motocorp (1912), Jindal Steel & Power (1955), Grasim Industries (1981) and JSW Steel (1990).
Rupay, India’s own payment gateway was launched to compete with networks such as Visa and Mastercard. The indigenous network will work on ATMs and merchant outlets and help in bringing down cash transactions.
The RuPay is a blend of two terms — ‘Rupee’ and ‘Payment’. It has been developed by the National Payments Corporation of India (NPCI) and is being used by certain banks such as ICICI, State Bank of India, Punjab National Bank, among others, for clearing and settlement. The RuPay, which works on three channels — ATMs, Point of Sales (PoS) and online sales, is the seventh such payment gateway in the world. A variant of the pre-paid RuPay card would be launched by IRCTC soon, which will help in booking railway tickets.
Benefits of RuPay platform:
- Reduce the transaction cost
- Support creation of more domestic products
- Reach the unbanked sections
- Reducing number of cash transactions
- Availability at a cost much less than those of international cards