▼ TATA Motors appoints PB Balaji as CFO [08-16-17]
Tata Motors, India biggest automobile company, has appointed PB Balaji as its new group chief financial officer (CFO) who will take over the reins from CR Ramakrishnan.
Balaji, who will take over from November this year, has been working with Hindustan Unilever as its CFO since 2014. He started his career with Unilever in 1995.
Ramakrishnan who is set to retire next month will be the second high-profile exit in Tata Motors separated by a few months.
Executive director (commercial vehicles) Ravi Pisharody quit the company in June
Balaji’s appointment comes at a time when Tata Motors is battling market share loss in commercial vehicles and competitive pressures in passenger vehicles.
Tata Motors has decide to focus solely on returning to profitability (at the stand-alone level) and improving market share in both categories.
The company has shelved and postponed a few projects which it believed were cash guzzlers and not in line to achieve the desired objectives.
Balaji is a graduate of Indian Institute of Technology, Chennai and has a post-graduate management degree from Indian Institute of Management, Kolkata.
CR Ramakrishnan, 62, joined Tata Motors in 1980; he handled corporate treasury and accounting function with management accounting/MIS for over 15 years.
Thereafter, he held a two-year company-wide Systems and Business Process project responsibility covering R&D, Manufacturing, Sourcing and Sales & Service.
Subsequently, he served in the Group Chairman’s Office for 8 years before taking over as Chief Financial Officer in Tata Motors from Praveen Kadle. He had got elevated as Group CFO in July 2015.
The highlight of Ramakrishnan’s career was the successful takeover of UK’s luxury brands Jaguar and Land Rover from Ford which Tata Motors bought in 2008 for USD 2.3 billion.
▼ Santosh Sharma is HCL CMD [08-16-17]
Santosh Sharma was on 14th Aug 2017 appointed as chairman and managing director (CMD) of Hindustan Copper Ltd (HCL). He is currently director (operations) in the same company.
The appointments committee of the cabinet (ACC) has approved his appointment to the post for a period of five years, an order issued by the department of personnel and training (DoPT) said.
Emandi Sankara Rao has been appointed as managing director and chief executive officer (CEO) of Industrial Finance Corporation of India (IFCI) Ltd.
He is at present working as director and CEO of IIFCL Asset Management Company Ltd. Rao has been appointed to the post for a period of three years, the DoPT order said.
The ACC has also approved appointment of Debasis Jana as CMD of Andrew Yule and Co. Ltd (AYCL), Kolkata. He is working as director (planning) in the same company. He will hold the post for five years.
Hindustan Copper Limited: Know More
- Hindustan Copper Ltd. is a Government-owned corporation in the Central Public Sector Enterprise under the Ministry of Mines (India), Government of India.
- HCL is the only vertically integrated copper producer in India engaged in a wide spectrum of activities ranging from Mining, Beneficiation, Smelting, Refining and Continuous Cast Rod manufacturer.
- HCL shares are listed at Mumbai, Delhi, Calcutta, Chennai, Ahmedabad exchanges.
- On 31 July 2015, the government of India announced a 15% stake sale in Hindustan Copper Limited, reducing its stake from 89.5% to 74.5%.
- The headquarters of this company are in Kolkata. It is also located in Delhi and Bengaluru.
- Its website is www.hindustancopper.com
▼ Prasoon Joshi is new CBFC Chief [08-14-17]
Popular screenwriter and lyricist Prasoon Joshi was recently appointed as the new Central Board for Film Certification after Pahlaj Nihalani was sacked.
Nihalani’s term as the CBFC chairman was embroiled with controversies regarding the demands for multiple cuts for films like ‘Udta Punjab’, ‘Lipstick Under My Burkha’ and recently ‘Indu Sarkar’.
The board had ordered 89 cuts and told producers to remove all references to Punjab, elections and political parties in the movie ‘Udta Punjab’, which was based on the state’s drug problem.
The new chief of CBFC, the 45-year-old writer-poet and adman Prasoon Joshi is a well-known name in the Hindi film industry.
He is famous for writing dialogue and lyrics for films like 'Delhi 6', 'Rang De Basanti' and 'Bhaag Milkha Bhaag'. He wrote songs for 'Fanaa', 'Black', 'Ghajini'.
As an adman, Prasoon Joshi is also famous for spearheading political campaigns by major parties.
During the 2009 elections, Prasoon Joshi was given the charge for creating the campaign concept for the BJP and he came up with 'Majboot Neta, Nirnayak Sarkar'.
Lal Krishna Advani was being projected as the NDA candidate in that election.
He was asked by P Chidambaram, the then finance minister of the UPA government, to conceptualise the Service Tax campaign.
Later, he was also instrumental in the Achche Din Aane Wale Hai campaign by the BJP during 2014 Lok Sabha elections.
Joshi also wrote an anthem, 'Saugandh', which was voiced by Narendra Modi during the campaign.
While it is rumoured that Pahlaj Nihalani was given the post of CBFC chief after his 'Har Ghar Modi' video during the elections, Joshi's contributions to BJP campaigns are no less.
The lyricist ad-man is also behind the most popular project of Narendra Modi till date - Swachh Bharath.
He wrote the anthem titled 'swachh Bharat Ka Irada' during the campaign.
He was awarded Padma Shri by the Government of India in 2015 for his contributions towards the field of Arts, Literature and Advertising.
Joshi has received the 'Filmfare Best Lyricist Award' three times, in 2007 and 2008 and again in 2014 for the Hindi movie 'Bhaag Milkha Bhaag.’
He has also received the National Film Award for 'Best Lyrics' twice, for his work in 'Taare Zameen Par' (2007) and 'Chittagong' (2013).
Prasoon Joshi has written a poem on the occasion of Prime Minister Narendra Modi's birthday.
Prasoon Joshi started his career at Ogilvy & Mather in Delhi after earning a degree in Management from IMT Ghaziabad. He currently heads the Asia Pacific division of McCann Erickson.
His other advertising campaigns include Chloromint, Happydent commercials, as well as the Incredible India's 'Atithi Devo Bhava' campaign featuring Aamir Khan.
▼ Justice Dipak Misra is India's 45th CJI [08-9-17]
The President on Aug 8, 2017 appointed the Supreme Court's most senior judge, Justice Dipak Misra, as the next Chief Justice of India.
He will succeed incumbent Justice Jagdish Singh Khehar to become the 45th CJI and will have a tenure of a little over a year.
Justice Misra will take oath on August 27 and will retire on October 2 next year.
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The soft-spoken Justice Misra grew in stature by acceding to Mumbai serial blasts condemned prisoner Yakub Memon's last minute dash for life by listing in open court his plea for stay of his hanging.
Memon was hanged on July 30.
Justice Misra-headed benches have upheld the constitutional validity of Sections 499 and 500 of IPC providing for criminal defamation proceedings as also the death penalty for convicts in the gruesome Nirbhaya gang rape and murder case.
As chairman of National Legal Services Authority, he has introduced several measures to provide legal aid to poor litigants.
Recently, he had ordered introduction of video conferencing at state legal services authorities to connect poor prisoners languishing in jails with advocates who would free services.
Justice Misra becomes the third person from Odisha to become CJI.
Earlier, his paternal uncle Justice Ranganath Misra (1990-91) and Justice G B Pattanaik (2002) had occupied the top post in judiciary.
Justice Dipak Misra: Know More
- Born on October 3, 1953, Justice Misra's judgments reflect the literary and poetic skills which he appears to have inherited from his grandfather and celebrated Odia personality Pandit Godabarish Misra.
- The literary figure had three sons - Raghunath Misra, Ranganath Misra and Loknath Misra, who was a renowned Congress leader and governor of Assam from 1991 to 1997.
- Justice Misra enrolled as an advocate on February 14, 1977, and rose to top post after 40 years. He had practised in constitutional, civil, criminal, revenue, service and sales tax matters in Orissa HC.
- He was appointed additional judge of Orissa HC on January 17, 1996 and transferred to MP HC on March 3, 1997
▼ IAS officer S. Aparna appointed World Bank ED [08-8-17]
S. Aparna, an IAS officer from Gujarat cadre has been appointed as Executive Director, World Bank to represent the constituency of India, Bangladesh, Bhutan and Sri Lanka for three years.
A 1988-batch IAS, she is currently Principal Secretary to Gujarat Chief Minister Vijay Rupani. At the World Bank, she will replace Subhash Garg.
Garg was recently appointed Economic Affairs Secretary, Ministry of Finance.
The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi cleared
Ms. Aparna’s name for the position.
Her appointment order was issued by the Department of Personnel and Training (DoPT).
Among the top positions she held in Gujarat includes Principal Secretary, Economic Affairs, Surat Municipal Commissioner and Joint Secretary, urban development at centre.
Known for her integrity and focused approach, she was the most influential bureaucrat in the State administration under Mr. Rupani.
Meanwhile, according to sources, a senior Gujarat cadre officer serving the central deputation is likely to return the state as her replacement.
▼ Economist Dr. Rajiv Kumar is NITI Aayog Vice President [08-7-17]
Economist Dr. Rajiv Kumar has been appointed as the new vice-chairman of the government think tank NITI Aayog.
Present vice-chairman Arvind Panagariya had stepped down earlier this month.
The Columbia University professor will be returning to the U.S. to rejoin academia.
The spokesperson added that Dr. Vinod Paul, paediatrician at AIIMS, has also been appointed as a member of the NITI Aayog.
Dr. Kumar, who holds a DPhil in economics from Oxford and a Ph. D from Lucknow University, has served as director and chief executive of the Indian Council for Research on International Economic Relations (ICRIER), and has earlier worked with the Asian Development Bank.
He was also a senior fellow at the Centre for Policy Research.
Kumar, a former CEO of Delhi-based think-tank Indian Council for Research on International Economic Relations (ICRIER), will replace Arvind Panagariya.
Kumar is currently the founding director of Pahle India Foundation, a non-profit research organisation that specialises in policy-oriented research and analysis.
He is also chancellor of the Gokhale Institute of Economics and Politics in Pune.
Until January this year, he was a senior fellow at Centre for Policy Research (CPR), and is widely regarded for his work in the areas of India’s economy and national security.
Before coming to CPR, he was Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI).
He has also served as Director and Chief Executive of the Indian Council for Research on International Economic Relations (ICRIER) and chief economist of the Confederation of Indian Industries (CII), as well as in positions with the Asian Development Bank, the Indian Ministry of Industries, and the Ministry of Finance.
His latest books are: Modi & His Challenges (2016), Resurgent India: Ideas and Priorities (2015) and Exploding Aspirations: Unlocking India's Future (2014).
Kumar will take over as the second Vice Chairman of NITI Aayog.
Panagariya will demit office on August 31 at the nascent institution that was set up in January 2015 replacing the erstwhile Planning Commission.
The NITI Aayog is currently drafting a 15-year long-term plan, which will replace the practice of five-year plans.
The five-year plan system will be discontinued after the end of the 12th five year plan in 2017, ending six-decade old policy framework inspired by the Gosplan-aided industrialisation.
Kumar will also likely head the NITI Aayog panel that is modernising India’s labour data to give a more realistic picture about the jobs market in an economy characterised by a large informal sector.
Kumar concurrently serves as:
- a government-nominated independent director on Central Board of the Reserve Bank of India,
- a member of the International Board of Management of King Abdullah Petroleum Studies and Research Centre, Riyadh;
- director, Institute of Human Development, Delhi;
- director, Giri Institute of Development Studies, Lucknow;
- independent director on the Board of DHFL; and member, Advisory Board of CISCO, India.
In the past, he served as the Indian government’s nominee on the boards of Economic Research Institute for ASEAN and Asia (ERIA) Jakarta.
He was also on Central Board of the State Bank of India (SBI), Mumbai; Indian Institute of Foreign Trade, Delhi; Part Time Member, National Security Advisory Board (2006-2008).
He was also Part Time Member Economics, TRAI, New Delhi (2007-2010).
▼ IAS officer Mohammad Mustafa is SIDBI CMD [08-7-17]
Senior bureaucrat Mohammad Mustafa was appointed as Chairman and Managing Director in Small Industries Development Bank of India (SIDBI).
Mustafa, a 1995 batch IAS officer of Uttar Pradesh cadre, is at present Joint Secretary in Department of Financial Services.
The Appointments Committee of the cabinet has approved his appointment to the post for three years, an order issued by the Department of Personnel and Training (DoPT) indicated.
- Small Industries Development Bank of India (SIDBI) was set up on April 2, 1990 under an Act of Indian Parliament.
It acts as the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.
- The business domain of SIDBI consists of Micro, Small and Medium Enterprises (MSMEs), which contribute significantly to the national economy in terms of production, employment and exports.
- MSME sector is an important pillar of Indian economy as it contributes greatly to the growth of Indian economy with a vast network of around 5.1 crore units, creating employment of about 11.7 crore, manufacturing more than 6,000 products.
- It is contributing about 45% to manufacturing output and about 40% of exports in terms of value, about 37% of GDP.
The business strategy of SIDBI is to address the financial and non-financial gaps in MSME eco-system.
▼ Air Marshall H.N Bhagwat takes over as Air Officer in Charge, IAF [08-4-17]
Air Marshal Hemant Narayan Bhagwat AVSM VM has taken over as Air Officer-in-Charge Administration of Indian Air Force at Air Headquarters (VB), New Delhi on 01 Aug 2017.
He was commissioned in Administrative branch of the IAF in June 1981.
After serving for seven years as an Air Traffic control Officer in three different operational bases of the IAF, the Air Officer qualified as Parachute Jump Instructor and served in instructional capacity for fifteen years.
During his paratrooping career, the officer has undertaken over 2400 live parachute jumps in combat as well as sport profile from twenty different types of aircraft.
He has also served as Chief Instructor of Paratroopers’ Training School, Agra for five years and was leader of prestigious IAF Skydiving Team, Akashganga for several years.
Besides para jumps in all parts of our country, the officer has also participated in several international para exercises including in USA, South Africa, Sri Lanka and Seychelles.
The officer is senior most active parachute jump instructor of the IAF.
HN Bhagwat: Know More
- The Air Officer is a graduate of Defence Services Staff College, Wellington and has undergone Higher Air Command Course at College of Air Warfare, Hyderabad and Senior Defence Management Course at College of Defence Management, Secunderabad.
- The officer has completed his M Sc in Strategic Studies from Madras University & M Phil from Osmania University.
- The Air Officer has held several prestigious appointments including that of a Chief Admin Officer of a premier fighter base, Commandant of Garud Regimental Training Centre, as Chief Personnel Staff Officer at HQ South Western Air Command, Senior Officer in charge Administration at HQ Western Air Command.
- He was also Asst Chief of the Air Staff (Org & Cer) at Air HQ. Prior to assuming the appointment of AOA, Air Mshl HN Bhagwat was Director General (Works & Ceremonials) at Air HQ.
- The Air Officer was commended by Chief of Air Staff in 1999 and was awarded Vayu Sena Medal by the President of India in 2005 for his contributions to paratrooping field.
- He has been awarded the Ati Vishist Seva Medal by President of India for distinguished service of a very high order.
▼ Senate confirms Christopher Wray as new FBI director [08-3-17]
The Senate has confirmed Christopher Wray to lead the FBI, replacing James Comey, who was abruptly fired by President Donald Trump amid the investigation into Russia meddling in last year’s presidential election.
The vote was 92-5 for Wray, a former high-ranking official in President George W Bush’s Justice Department who oversaw investigations into corporate fraud.
Wray, 50, inherits an FBI at a particularly challenging time given Trump’s ousting of Comey, who was admired within the bureau.
Wray won unanimous support from the Senate Judiciary Committee last month, with Republicans and Democrats praising his promise never to let politics get in the way of the bureau’s mission.
Asserting his independence at his confirmation hearing, Wray said: “My loyalty is to the Constitution and the rule of law. Those have been my guideposts throughout my career, and I will continue to adhere to them no matter the test.”
Trump fired Comey in the midst of his 10-year term as the FBI was investigating Russia’s role in the election and possible ties to Trump campaign officials.