Top Trending Appointments News & Highlights
FICCI President-Elect Anant Goenka for 2025–2026
Anant Goenka, the vice chairperson of the RPG Group, has been named the Federation of Indian Chambers of Commerce and Industry's (FICCI) 2025–2026 president-elect. A significant leadership change in one of India's oldest and most significant business chambers was announced on Tuesday.In addition to being the Vice Chairperson of RPG Group, a diverse Indian industrial conglomerate with interests in industries like infrastructure, IT, healthcare, and tires (CEAT), Anant Goenka is currently the Senior Vice President of FICCI. Within the RPG Group, Goenka, a third-generation business executive, is renowned for spearheading digital transformation and modernizing processes. He graduated from Northwestern's Kellogg School of Management and the University of Pennsylvania's Wharton School. A generational change and the increasing impact of young industry leaders in influencing India's policy and economic discourse are signaled by his appointment as FICCI president-elect. The incumbent FICCI President and Vice Chairman & Managing Director of Emami Group, Harsha Vardhan Agarwal, will be replaced by Anant Goenka. Second-generation businessman Harsha Vardhan oversaw FICCI during the 2024–2025 term. Under his direction, FICCI made a substantial contribution to business-government cooperation by concentrating on MSME reforms, exports, ESG, and inclusive growth.One of the most well-known business associations in India is the Federation of Indian Chambers of Commerce and Industry, or FICCI, which was established in 1927. Additionally, it is essential to Participating in policy debates on behalf of Indian industries Talking about economic reforms with the authorities Encouraging global trade alliances putting together prestigious events such as the India Innovation Summit, FICCI Frames, and FICCI Flo
Published 16 Oct 2025 05:25 PM
Dan Katz was named the first deputy managing director of the IMF.
Dan Katz joins the IMF as First Deputy Managing Director on October 6, 2025, bringing a wealth of global finance and U.S. Treasury experience.The International Monetary Fund (IMF) Executive Board authorized Dan Katz's nomination as its First Deputy Managing Director on October 3, 2025, with effect from October 6, 2025. IMF Managing Director Kristalina Georgieva made the nomination, which comes at a crucial moment as the world economy negotiates intricate changes in inflation, trade, and geopolitics. With a solid history in international finance, economic policy, and strategic diplomacy, Katz's selection represents a major change in the IMF's leadership. The most recent position Dan Katz held was Chief of Staff at the U.S. Department of the Treasury, where he was Treasury Secretary Scott Bessent's primary counselor. Among his duties were directing discussions on regional and bilateral financial platforms and establishing both domestic and foreign economic policies, most notably the U.S. economic cooperation with Ukraine.
Published 15 Oct 2025 05:42 PM
Vikram Dayal is named the new head of IOCC by Air India after Choorah Singh resigns.
According to sources on Tuesday, Air India has named Vikram Dayal as the new Head of its Integrated Operations Control Centre (IOCC) after Choorah Singh, the IOCC Head and Senior Vice President, resigned.Sources claim that Singh, who assumed the position in October 2023, has resigned to pursue chances in Ireland. He resigned after being identified in a DGCA letter earlier this year along with two other officials for alleged crew scheduling and rostering errors in June.Regarding the leadership transition, the carrier owned by the Tata Group has not yet released a formal comment.On October 26, Air India Express is scheduled to begin operating direct flights between Agartala and Bagdogra, linking the state capital with North Bengal and offering easy access to well-known locations like Darjeeling, Kalimpong, Mirik, and Sikkim. A new chapter in Tripura's aviation connectivity will be marked by the service, which will launch at the same time as the winter flight schedule. A 180-seater Boeing will fly this route every day, according to reports. The return flight will leave Agartala at 6:10 PM and land in Bagdogra at 7:20 PM, while the departure flight will leave Bagdogra at 4:30 PM and arrive in Agartala at 5:40 PM.Bookings for tickets have already begun, and it has been stated that costs have been maintained reasonable for regular travelers, making family vacations to North Bengal more accessible than before.As part of its Northern Winter 2025 schedule, Air India also announced that it will be expanding its flights to the United Kingdom. As on October 26, there will be a fourth daily flight between Delhi and London (Heathrow).According to a press statement, the new route would offer 1,196 seats per week each way between Delhi and London (Heathrow), increasing Air India's frequency from 24 to 28 times per week this winter.
Published 14 Oct 2025 05:42 PM
Castrol India's MD Steps Down, New CEO Takes Over
A significant participant in the lubricant industry, Castrol India, is going through a leadership change. The present Managing Director, Kedar Lele, will leave at the end of December 2025 in order to pursue other possibilities. He continues to serve as Wholetime Director & Head of B2C Sales, although the company has named Saugata Basuray as Interim CEO, effective January 2026.A board decision states that Lele will formally step down as Managing Director on December 31, 2025, at the end of business. His decision to "pursue other opportunities" is cited as the reason. Since assuming leadership duties not long ago, his time as MD has been rather short.Saugata Basuray will take on the additional role of Interim CEO on January 1, 2026, until a new Managing Director is chosen. He is still employed in his previous role as Head of B2C Sales and Wholetime Director. His title will be changed to "Wholetime Director & Interim CEO" in light of the new hire. Having worked for Castrol since 1999 in a variety of leadership roles across verticals and territories, Basuray is an experienced veteran of the organization. Internal stability and continuity: Castrol India appears to emphasize stability during transition if it selects a leader who is already a part of the organization. Leadership development: While a more permanent replacement is being found, Basuray is a viable temporary option due to his extensive expertise and institutional memory. Market reaction: The revelation caused the company's share price to slightly decline, indicating that investors are sensitive to changes in the company's leadership. The upcoming strategic period: This change in leadership comes at a time when the lubricant industry is dealing with issues related to changing mobility trends, like electric cars, the need for sustainability, and shifting automotive ecosystems.
Published 13 Oct 2025 05:21 PM
Appointments
Appointments
India Exim Bank Establishes Office in Nairobi to Promote Trade in East Africa
The East Africa Representative Office of the Export-Import Bank of India (India Exim Bank) was opened in Nairobi, Kenya, with the goal of increasing India's commercial presence in the resource-rich and youthful East African region. The goal of this project is to strengthen economic and trade links between Kenya, India, and the larger East African region.The East Africa Representative Office of the Export-Import Bank of India (India Exim Bank) was opened in Nairobi, Kenya, with the goal of increasing India's commercial presence in the resource-rich and youthfully populous East African region.In order to strengthen trade relations and promote socioeconomic growth in the resource-rich East African region, India Exim Bank opens an office in Nairobi. The East Africa Representative Office of the Export-Import Bank of India (India Exim Bank) was opened in Nairobi, Kenya, with the goal of increasing India's commercial presence in the resource-rich and youthfully populous East African region. The goal of this project is to strengthen economic and trade links between Kenya, India, and the larger East African region.
Om Birla is the first Speaker of the Lok Sabha to be re-elected as an MP in 20 years.
On June 4, 2024, Om Birla, the Speaker of the Lok Sabha, accomplished a historic achievement by capturing the parliamentary seat of Kota. Birla was re-elected to the Lower House of Parliament with a commanding majority of 41,139 votes, making her the first presiding officer to be re-elected in 20 years.Ending a Twenty-Year Drought As the presiding officer of the 11th Lok Sabha from 1996 to 1998, P.A. Sangma was the last Speaker of the Lok Sabha to win re-election to the Lower House. In the 1998 Lok Sabha election, Sangma, who was then a Congress party member, won reelection from Tura in Meghalaya.The Electoral Journeys of Past Speakers G.M.C. Balayogi, an Andhra Pradesh native and member of the Telugu Desam Party (TDP), was chosen to serve as Speaker of the Lok Sabha in 1999. Balayogi unfortunately died in a helicopter mishap in 2002.The Shiv Sena's Manohar Joshi succeeded Balayogi as Speaker of the Lok Sabha. Nevertheless, Congressman Eknath Gaikwad defeated Joshi in the Mumbai North Central Lok Sabha seat in 2004. The Lok Sabha Speaker was chosen in 2004 by Somnath Chatterjee of the CPI(M), who had won the Bolpur seat. However, Chatterjee's disagreements with his party forced him to leave politics prior to the 2009 Lok Sabha elections. In 2009, Meira Kumar, a member of the Congress party, was elected Speaker of the 15th Lok Sabha after winning the Sasaram parliamentary constituency in Bihar. But in 2014 and 2019, Kumar lost the elections.The BJP's Sumitra Mahajan, an Indore-based member of the Lok Sabha, was chosen to be Speaker in 2014. In the 2019 Lok Sabha election, the BJP did not field Mahajan.Birla's Historical Accomplishment Speaker Om Birla, a Kota-based member of the Lok Sabha for the BJP, was chosen in 2019. In 2024, Birla was victorious over Congressman Prahlad Gunjal to hold onto the Kota parliamentary seat. This made Birla the first member of Parliament to be re-elected as Speaker of the Lok Sabha in twenty years. Birla's accomplishments highlight the faith that the Kota community has in him, and his re-election as an MP guarantees that he will continue to lead and advise the Lok Sabha.
Results of the 2024 Lok Sabha election: Kiren Rijiju of the BJP leads from the Arunachal Pradesh West seat
Early results indicate that Kiren Rijiju of the BJP is ahead in the West constituency of Arunachal Pradesh while the ballots are being counted.In the Lok Sabha election, which is scheduled to have results on Tuesday, Kiren Rijiju, the Union Minister of Earth Sciences and Food Processing Industries, was leading from the West constituency of Arunachal Pradesh.According to preliminary results, Congressman Nabam Tuki, who the BJP leader had previously defeated in 2019 by a vote margin of 48.8%, was the closest challenger for the seat. According to the ECI, as of 10:45 am, Rijiju leads Tuki by a margin of 55,731 votes.Toko Sheetal of the Gana Suraksha Party (GSP), Ruhi Tangung of Janata Dal (United), and independent candidates Bimpak Siga, Leki Norbu, Techi Rana, and Tania June were among the other candidates in the election.Rijiju received 63.02% of the vote in 2019, compared to 14.22% for his opponent Nabam Tuki. Congress MP Takam Sanjoy lost the constituency to the Union minister in 2014.Voters in the first phase of the Arunachal West seat, which consists of 33 scheduled tribe reserved constituencies, turned out to be 70.11% of the total. Three-time Member of Parliament Rijiju assumed the Law Ministry in July 2021 after serving as the Minister of State (Independent Charge) for Youth Affairs and Sports from May 2019 to July 2021.As the minister of law, Rijiju frequently clashed with the legal system. Rijiju asserted during the November 2022 India Today summit that judges don't always recommend the best candidate for a position; rather, they only recommend the people they know for appointments and promotions. The BJP minister stated his opinion that the people of the nation should make judgments about significant issues like the institution of marriage rather than having them decided by judges during a hearing on same-sex marriages held by the Supreme Court in April 2023.Prime Minister Narendra Modi transferred Rijiju to the Ministry of Earth Sciences and named Arjun Ram Meghwal as the new Minister of Law and Justice one month later, in May.Rijiju established four new meteorological centers, launched a website called green alerts to disseminate weather-related information to the agricultural community, and pledged to see Maitri-II, India's recently proposed research station in Antarctica, built by 2029 after assuming the position of Minister of Earth Sciences in 2023.
Rushabh Gandhi has been appointed as India First Life Insurances MD and CEO
Rushabh Gandhi, the company's current deputy chief executive officer, has been promoted to the role of managing director and chief executive officer (MD and CEO), with approval from the board of IndiaFirst Life Insurance. Gandhi's selection fits the company's succession plan and represents a major turning point.Plans for Succession and Regulatory Clearances up July 1, 2024, or as soon as he has the required regulatory permissions, Gandhi will take up his new position. The approval of the company's shareholders, the Insurance Regulatory and Development Authority of India (IRDAI), and other legislative clearances are prerequisites for his nomination. Gandhi will take over as Managing Director and CEO once R.M. Vishakha retires on June 30, 2024.An accomplished professional with a strategic outlook Gandhi is expected to steer the company into a new phase, according to IndiaFirst Life Insurance. Gandhi, who has over 29 years of expertise in both domestic and foreign markets, has been a key contributor to the expansion and success of the business. His strategy plan is in line with the fundamental principles and ideals of IndiaFirst Life.Professional and Academic Qualifications Gandhi has an executive education from INSEAD in Fontainebleau, France, and a degree from the Narsee Monjee Institute of Management Studies (NMIMS). Since 2015, he has collaborated closely with R.M. Vishakha, obtaining invaluable knowledge and expertise in the insurance sector. Maintaining and Expanding Gandhi's internal promotion guarantees leadership continuity and a seamless transfer. His wealth of knowledge and in-depth comprehension of IndiaFirst Life's business operations put him in a strong position to lead the organization through its next stage of expansion and development.Recognition of the Industry and Regulatory Monitoring The insurance sector regulator, IRDAI, must review and approve Rushabh Gandhi's appointment as MD and CEO of IndiaFirst Life Insurance. By ensuring that the leadership transfer complies with industry norms and best practices, this regulatory oversight protects stakeholders' and policyholders' interests. IndiaFirst Life Insurance is dedicated to providing cutting-edge goods and services that meet the changing needs of its clients while keeping a laser-like focus on profitability and long-term growth as it sets off on this new path under Gandhi's direction.
Pavithra Urs is appointed Vice President, HR by Enfusion.
With effect from May 1, Enfusion has named Pavithra Urs as Vice President of HR. With its headquarters in Bangalore, Pavithra will be in charge of cultivating a top-notch workforce and encouraging managers and staff to work together.After more than 16 years of revolutionary HR leadership with Deluxe, ArisGlobal, Cognizant, and Infosys, Pavithra joined Enfusion. Her areas of experience include people management, company growth, risk mitigation, and strategic planning. She holds a master's degree in business management and is a PMP-certified Project Management Professional.A social media post said, "Pavithra Urs is set to drive the HR function at Enfusion into a new era of success with her strategic vision and commitment to excellence."
Dr. Bikramjit Chaudhuri has been appointed as the new chief of measurement science and analytics by BARC India.
Dr. Bikramjit Chaudhuri is the new Chief of measuring Science & Analytics at the world's largest television audience measuring agency, the Broadcast Audience Research Council (BARC) India. He will take over for Dr. Derrick Gray, a distinguished team member of BARC India for the past six years and a seasoned expert in audience measurement and advanced analytics.Dr. Bikramjit Chaudhuri is the new Chief of measuring Science & Analytics at the world's largest television audience measuring agency, the Broadcast Audience Research Council (BARC) India. He will take over for Dr. Derrick Gray, a distinguished team member of BARC India for the past six years and a seasoned expert in audience measurement and advanced analytics.Dr. Bikramjit Chaudhuri: An Experienced Expert Dr. Chaudhuri graduated with a Master of Statistics from the Indian Statistical Institute in Delhi and a Ph.D. from IIT Bombay. He brings with him an extensive background spanning more than thirty years in a variety of domains, including demand forecasting, artificial intelligence (AI) and machine learning (ML), statistics, stochastic modeling, market measurement, and consumer segmentation. In these fields, he is the author of several research papers, publications, and patents. Dr. Chaudhuri has served as the Global Head of Data Science & Advanced Analytics for the Datamatics Group of Companies since 2016. Before working at Datamatics, he was a senior professional at KPMG, Nielsen, and ZS Associates, where he led teams of professionals in a variety of leadership roles.Accepting the New Task "It will be an absolute honor and privilege to be a part of a multitalented and versatile team that runs the largest Audience Measurement system in the world, in one of the most complex multimedia markets," Dr. Chaudhuri remarked, expressing his excitement. I'm excited to use my broad experience and in-depth knowledge to advance the current measuring system and satisfy the expanding demands of the market. Anticipating a thrilling voyage and a rewarding partnership with BARC India.
The RBI has approved Pradeep Natarajans appointment as the full-time director of IDFC FIRST Bank.
An important step forward for the private sector lender has been reached with the RBI's approval of Pradeep Natarajan's nomination as a Whole Time Director on the Board of IDFC FIRST Bank.An important step forward for the private lender is the approval of Pradeep Natarajan's appointment as a Whole Time Director on the Board of IDFC FIRST Bank by the Reserve Bank of India (RBI). The approval, which has a three-year term, demonstrates the bank's dedication to bolstering its executive staff.Verification of Appointment up May 16, IDFC FIRST Bank formally disclosed the RBI's clearance and said that Pradeep Natarajan will take up the position of Executive Director of the bank in a regulatory filing. The appointment highlights Natarajan's potential contributions to the bank's growth trajectory and is a testimony to his experience and ability.Procedures and Approval from Shareholders Natarajan's appointment is made possible by the RBI's clearance, but IDFC FIRST Bank will now carry out the remaining procedures to complete the process. Furthermore, the appointment is subject to shareholder approval, which demonstrates the bank's dedication to corporate governance and transparency.NPA Diminishment The bank's success is noteworthy in part because of the decrease in its non-performing assets (NPAs). Gross non-performing assets (NPAs) as of March 31, 2024, are 1.88 percent of gross loans, a decrease from 2.51 percent the year before. In a same vein, net NPAs have also dropped from 0.86 percent of advances to 0.60 percent. This decrease highlights the bank's proactive approaches to risk management and improving the quality of its assets.
Senior IPS officers N. Venu Gopal and A.Y.V. Krishna have been named additional directors in the CBI.
A Y V Krishna and N Venu Gopal, two senior Indian Police Service (IPS) officers, have been named as new directors of the Central Bureau of Investigation (CBI).The appointment of senior Indian Police Service (IPS) officials A Y V Krishna and N Venu Gopal as additional directors in the Central Bureau of Investigation (CBI) is a noteworthy step. Their nominations demonstrate the government's dedication to strengthening the top investigative agency's investigation skills.The CBI Appoints A Y V Krishna as a Director The CBI has nominated A Y V Krishna, a renowned IPS officer from the Assam-Meghalaya cadre who graduated in 1995, as an additional director. Krishna brings a wealth of experience and knowledge to his current position as Inspector General of the Central Reserve Police Force (CRPF). His appointment as an additional director is valid until August 6, 2028, per the Personnel Ministry's directive.N Venu Gopal's Consultation N An additional director in the CBI has also been appointed: Venu Gopal, a seasoned Himachal Pradesh cadre IPS officer. In his capacity as the CBI's joint director, Venu Gopal has proven to be an excellent leader and investigator. As per an extra order issued by the Personnel Ministry, his employment as an additional director is valid until May 24, 2027. The government prioritizes bolstering the CBI The government's priority on fortifying the Central Bureau of Investigation is shown in the appointments of A Y V Krishna and N Venu Gopal. Due to their established backgrounds in law enforcement and investigative procedures, both officers will be highly valuable in helping the CBI fulfill its mission of enforcing the law and fighting crime on a national scale.Goals and Obstacles A Y V Krishna and N Venu Gopal, as additional directors in the CBI, are expected to handle complicated investigations, work with other law enforcement agencies, and maintain the highest standards of professionalism and integrity. They will be essential in improving the CBI's ability to combat financial crimes, corruption, and other severe crimes with efficacy and efficiency.
14 Rajasthanis were saved from a mine during night operations after a lift in Jhunjhunu collapsed.
when nighttime operations, at least 14 workers who were trapped in a mine at Hindustan Copper Limited in the Jhunjhunu area of Rajasthan when a lift collapsed were freed.The workers at the Kolihan mine who were trapped at a depth of 577 meters were freed throughout the course of overnight rescue operations.Three critically injured people were rescued and subsequently brought to a Jaipur hospital."Everyone who was stranded in the mine has been safely rescued," stated Dr. Pravin Sharma of the Jhunjhunu Government Hospital. They have been referred to Jaipur since three of them were in critical condition.At about eight o'clock at night, the lift at the copper mine owned by Hindustan Copper Limited fell. The supporting rope broke and the lift, carrying officials from the mine and a vigilance team from Kolkata, plunged almost 1,800 feet inside the pit.Chief Vigilance Officer Upendra Pandey, Head of Khetri Copper Complex (KCC) Unit GD Gupta, and Deputy General Manager AK Sharma of Kolihan Mine were among the officials who were trapped. Journalist Vikas Pareek was one of the 14 people imprisoned; he was traveling with the vigilance squad as a photographer. Ambulances hurried to the scene as soon as word of the lift collapse broke, and medical personnel was informed to be prepared for any eventualities.Dharmpal Gurjar, a BJP MLA, had earlier stated, "I came here right away after learning this information, even though I had traveled to Haryana for the election campaign." I made calls to everyone and assessed the overall state of affairs. I've made this SDM's call.
Vinay Firake is named CEO of the APMEA Strategic Market Unit of Wipro.
Vinay Firake has been named CEO of Wipro's Asia Pacific, India, Middle East, and Africa (APMEA) strategic market unit (SMU). Wipro is a big name in the IT industry.With immediate effect, Vinay Firake has been named CEO of Wipro's Asia Pacific, India, Middle East, and Africa (APMEA) strategic market unit (SMU). Wipro is a prominent player in the IT industry. Firake will join the executive board of Wipro and report directly to Srini Pallia, the company's CEO and managing director.Anis Chenchah Firake, the outgoing CEO of the APMEA SMU, is stepping down from her position to pursue chances outside the company, therefore her selection as successor.Vinay Firake has worked at Wipro for more than 26 years, holding a number of leadership positions all across the world. In his new position, he will be located in Dubai.Firake most recently handled operations across sectors and services as the Senior Vice President and Managing Director of the Wipro-Nordics Business Unit in Stockholm. Before then, he served in a number of positions in both North America and Europe and was the head of the Manufacturing & Automotive Business Unit in Europe.Current Wipro Leadership Appointments In recent months, Wipro has experienced a number of significant leadership changes: Thierry Delaporte was succeeded by Srini Pallia, who was named CEO and Managing Director of the corporation on April 6, 2024. Wipro appointed Malay Joshi as CEO of Americas 1, its largest and fastest-growing market, in April 2024. Srini Pallia held this position prior. Concerning Wipro Founded on December 29, 1945, Wipro is a multinational provider of business process outsourcing, consulting, and information technology services with its headquarters located in Bangalore, Karnataka. Executive Chairman Rishad Premji presently serves as the company's leader. By utilizing Vinay Firake's wealth of experience and knowledge in the area, Wipro hopes to fortify its leadership group and foster expansion in this key market unit. Firake was appointed CEO of the APMEA SMU.
Tata Electronics to be chaired by N Chandrasekaran
The announcement that N Chandrasekaran, the chairman of Tata Sons, will take over as chairman of Tata Electronics is a big step that demonstrates the Tata group's commitment to its $14 billion investment in the semiconductor industry. Banmali Agrawala, who has held the post for a number of years and recently assumed an advisory role within the firm, will be succeeded by Chandrasekaran. Mumbai | Chennai: N Chandrasekaran, the chairman of Tata Sons, will also take up the position of chairman at Tata Electronics. This comes at a moment when the Tata group company has set aside approximately $14 billion in investments to drive its foray into the semiconductor industry. As the business makes its advances into the semiconductor industry, EVs, and iPhone manufacture amid India's ambition, N Chandrasekaran, chairman of Tata Sons, will take on the post of chairman of Tata Electronics.
The Inter-Services Organizations (ISOs) (Command, Control, and Discipline) Act will go into effect on May 10, 2024, as announced by the government.
The Defense Ministry said on May 10 that the Inter-Services Organizations (Command, Control and Discipline) Act has been notified by the government and is now in effect. This action takes place in the midst of the government's theaterization plan.In order to fight and conduct operations under the paradigm, the government aims to combine the skills of the Army, Air Force, and Navy and make the best use of their resources."The measure was approved by both Houses of Parliament during the Monsoon Session of 2023 with the goal of strengthening the command, control, and efficient operation of Inter-Services Organizations (ISOs). August 15, 2023, was the day the President signed the Bill into law, according to a statement from the ministry.The Act gives Commanders-in-Chief and Officers-in-Command of ISOs the authority to manage their subordinates' behavior in order to maintain administration and discipline effectively while preserving the special working circumstances of each service. "The notification of the Act will enable heads of ISOs to expedite case resolution, prevent needless proceedings, and mark a significant advancement towards increased unity and cooperation among military personnel," the statement stated.The three services are beginning to agree on the bold project, according to Defence Minister Rajnath Singh, who spoke with PTI last week on the military's theaterization process. According to him, the reason the armed forces are supporting the theaterization plan is that it will better utilize resources and combine the capabilities of the three services.
Yes Bank releases a list of senior hires.
Mumbai: Rajeev Uberoi was named senior group president for governance and controls and Anurag Adlakha was named senior group president and head of financial management and strategy by Yes Bank on Monday.Uberoi will be in charge of management governance, compliance, vigilance, legal (general counsel), company secretarial, and control responsibilities at Yes Bank. Uberoi was previously in charge of legal and audit at IDFC Bank.Adlaka, the former CFO of Jana Small Finance Bank, will be in charge of boosting Yes Bank's bottom line.According to a press release from the bank, both of the top personnel will answer directly to Ravneet Gill, managing director and chief executive officer.Additionally, the Yes Bank board of directors made it clear that the lender's liquidity and operational performance were strong, and that its financial condition was "sound and stable." To approve the financial results for the quarter that ended on June 30, 2019, the board will convene on July 17. In addition, the bank denied "unfounded speculation about, among other things, the bank's asset portfolio, future growth prospects, Board & management stability."Yes Bank shares were trading at ₹93.40 on the BSE at 11:45 a.m.Yes Bank shares were trading at ₹93.40 on the BSE at 11:45 a.m. Open up a world of advantages! Everything you need is right here, only a click away, including intelligent newsletters, real-time stock tracking, breaking news, and a customizable newsfeed! Register Now!
The Gurugram government brings in Yuzvendra Chahal to increase voter turnout.
The district government in Gurugram has adopted a novel strategy to promote voter turnout as the May 25 Lok Sabha elections approach.The district government in Gurugram has adopted a novel strategy to promote voter turnout as the May 25 Lok Sabha elections approach. The government has enlisted prominent musicians MD Desi Rockstar and Naveen Punia, as well as cricket player Yuzvendra Chahal of India, as brand ambassadors in an attempt to draw in voters, especially the younger generation.The district administration had already recruited singer Naveen Punia and "desi rockstar" MD as brand ambassadors to win over Gurugram voters before requesting Chahal's backing. It is expected of these well-known musicians to use their platform to interact with the public and use their work to inspire them to exercise their right to democracy.The government has introduced a first-of-its-kind app, “Voter In Queue,” to assist voters in ascertaining their exact place in the polling line and the approximate duration till their turn to cast a ballot. The Election Commission of India (ECI) has cleared the app for trial usage, and Gurgaon Deputy Commissioner Nishant Kumar Yadav revealed that on May 25, voters can monitor the lines at 367 polling booths in Gurgaon, 250 booths in Pataudi, and 455 booths in Badshahpur.In order to obtain an OTP and establish a direct communication channel with the booth level officer (BLO), voters can utilize the app to provide their location, voting booth, and voter ID. Every 30 to 60 minutes, the BLO will update the app with the number of individuals in line to cast their ballots.Voting centers have been established in Gurgaon's common spaces of high-rise buildings in an effort to make voting even easier. A Voters' Park has also been opened at Vikas Sadan by Haryana Chief Secretary TVSN Prasad. Additionally, officials have made sure that announcements from DC Yadav and the District Election Officer be aired in all of the city's multiplexes.With the Lok Sabha elections in Gurugram fast approaching, the district administration is trying to persuade people to use their democratic right to vote by including the younger generation through creative techniques and celebrity partnerships.
Kareena is pleased to be a national ambassador for UNICEF India.
UNICEF India has named Bollywood star Kareena Kapoor Khan as its national ambassador. Her longstanding affiliation with the organization since 2014, during which she has acted as a Celebrity Advocate, is recognized with this esteemed status.Young Advocates: Supporting a Range of Issues UNICEF India announced the appointment of Kareena along with the introduction of its inaugural class of Youth Advocates, four exceptional persons who will act as peer leaders and advocates for important issues impacting children and youth. The causes that the Youth Advocates are fighting for are: Gauranshi Sharma from Madhya Pradesh, advocating for the right to play and disability inclusion. Uttar Pradesh native Kartik Verma is an advocate for child rights and climate action. Nahid Afrin from Assam, raising awareness about mental health and early childhood development. Vinisha Umashankar from Tamil Nadu, a budding innovator and STEM pioneer.Kareena's dedication to the rights of children Kareena Kapoor Khan's commitment to the rights and wellbeing of children is demonstrated by her affiliation with UNICEF India. She has given her voice to numerous projects as a Celebrity Advocate, bringing attention to topics including child safety, nutrition, and education. As she assumes her new position as National Ambassador, Kareena is well-positioned to further up her efforts and use her powerful platform to make a significant difference in the lives of children in India and around the world.Youth Empowerment and Change-Driven UNICEF India's selection of Youth Advocates is a great step in empowering youth and recognizing their ability to effect positive change. In addition to serving as an inspiration to their peers, these advocates will help shape programs and policies that deal with the urgent issues that young people face. Kareena Kapoor Khan and the Youth Advocates will work diligently to guarantee that every child's rights are upheld and their voices are heard, forming a strong team.Children's Better Future Kareena Kapoor Khan and the Youth Advocates represent a fresh commitment to UNICEF India's great goal, which is to uphold the rights and welfare of children. The group wants to give children a better future where their rights, safety, and growth are respected and valued via their combined efforts. Kareena Kapoor Khan's impact and her passion for children's rights will surely encourage others to join the campaign as she sets off on her new adventure, causing a ripple effect that reverberates throughout the country and beyond.
Japanese stocks fall on Yen support, yuan rebounds
Japanese stocks declined as the yen rose after the country’s top currency official warned against speculative moves in the foreign-exchange market.The yuan climbed following signs of support from Chinese authorities. Tokyo’s Topix index dropped as much as 1% after recording its biggest weekly gain in two years. South Korea’s equity benchmark also fell while mainland Chinese, Hong Kong and Australian shares inched higher — offering a mixed picture for the region. The offshore yuan rose as the dollar weakened and China’s central bank set a stronger-than-expected daily reference rate. The gap between the yuan’s daily fixing versus estimates was the widest since November, while Bloomberg calculations indicated the People’s Bank of China injected a net 40 billion yuan ($5.56 billion) in open market operations. Chinese Premier Li Qiang had earlier downplayed investor concerns of challenges facing the economy, saying Beijing was stepping up policy support to spur growth and systemic risks are being addressed. “Just saying the risks are not as much as people think is not going to draw investors back,” says Vey-Sern Ling, managing director at Union Bancaire Privee. “China is not just a ‘show me’ story for investors, it’s a ‘show me a lot more than I expect’ story Treasuries were mostly steady following a rally on Friday that wiped seven basis points from the 10-year yield. Australian and New Zealand bond yields ticked lower Monday. Those moves come ahead of a busy week of economic data that will include the Federal Reserve’s preferred inflation gauge due Friday. The core personal consumption expenditures index, which excludes food and energy costs, is seen rising 0.3% on the heels of its biggest monthly increase in a year. Inflation readings are also due in Australia, France, Italy and Spain later this week, offering clarity on rising prices as investors begin to position for rate cuts. US equity futures were little changed after a muted end to the week on Wall Street with the S&P 500 declining 0.1% and the Nasdaq index rising by the same margin on Friday. “Tightening usually causes recessions when it triggers financial crises that turn into credit crunches,” said Ed Yardeni, president of his eponymous research firm, said in a Monday note. “That sequence of events is unlikely now,” he said, citing the Fed’s use of emergency liquidity measures to address crises, such as the stress in the US banking system in March last year.
Asian stocks open mixed as US hits fresh highs
Equities in Asia traded mixed Friday in a sign investors are rethinking the optimism that propelled the region’s shares higher in the prior session, as fresh signs of persistent inflation appeared in the US.Shares in Australia were little changed while Japanese stocks nudged higher. Futures contracts for Hong Kong equities declined. The moves followed Thursday’s sharp rally for a gauge of the region’s shares, which touched the highest level in almost two years. Contracts for US stocks rose in early Asian trading after the S&P 500 index rose 0.3% to a fresh high Thursday — its 20th of the year — led by gains in industrials and banks. Reddit Inc. shares soared 48% on their debut. Other tech stocks faltered, with Apple Inc. and Alphabet Inc. falling against the backdrop of heightened regulatory pressure. The US Justice Department and 16 attorneys general are suing the iPhone maker for violating antitrust laws. In Europe, the company is said to be facing probes about whether it’s complying with the region’s Digital Markets Act. Apple shares fell more than 4%, wiping $115 billion in market value. US economic data supported the argument the Fed may be forced to backtrack on its rate reduction forecasts a day after the central bank indicated three 25 basis point cuts in 2024. Housing, manufacturing and labor-market data released Thursday in the US pointed to a resilient economy that could prompt the Federal Reserve to reduce interest rates slower than the market expects. The data pushed Treasuries down. The two-year Treasury yield rose three basis points Thursday, while the 10-year was less than one basis point higher. The upward pressure on yields supported an index of the dollar, which rose 0.4% in its previous session before steadying Friday. The yen inched higher to trade at around 151 per dollar in early Friday trading as Japan’s inflation accelerated to the quickest pace in four months. Markets will keep focused on whether the Bank of Japan might follow its first interest rate hike since 2007 with further raises later this year. Itchy Fingers Treasury Secretary Lawrence Summers said the Fed has “itchy fingers to start cutting rates,” which may not be necessary for some time given the strong economy and buoyant financial markets. “I don’t know why we’re in such a hurry,” Summers said. Societe Generale SA increased its S&P 500 year-end forecast to 5,500 from 4,750 — the highest forecast among strategists tracked by Bloomberg. “US exceptionalism is going from strength to strength,” wrote Manish Kabra, head of US equity strategy for the French bank. “Despite widespread market optimism, we view this as rational rather than excessive.” Central banks remained firmly in focus. The Swiss National Bank expectedly cut interest rates, weakening its currency against peers, while Mexico’s central bank also cut rates as expected. The moves could be a prelude to policy easing in the UK, Europe and the US. The Bank of England kept rates at a 16-year high of 5.25% Thursday. Two BOE hawks dropped their demands for hikes in a further sign the central bank is closer to rate cuts. The pound weakened on the news. Ahead in Asia, the Reserve Bank of Australia will release a financial stability review, while Taiwan will publish February jobs data. In commodities, oil held a two-day drop, with traders assessing the outlook for global interest rates and geopolitical tensions in the Middle East. Elsewhere, Bitcoin trading below $66,000, while gold fell after surging above $2,200 an ounce for the first time.
Stocks in Asia echo US gains on Fed rate signals
Asian equities rallied Thursday after US stocks touched fresh highs as the Federal Reserve indicated it would meet market expectations with three rate cuts this year.Australian, South Korean shares and equity futures for Hong Kong all advanced. Japanese stocks also rose after a Wednesday holiday as the nation’s exports grew for a third consecutive month, offering support for the economy. The S&P 500 index climbed 0.9% to a new high while the tech-heavy Nasdaq 100 index, which is more sensitive to policy, rose 1.2%. US futures climbed further in early Asian trading. The Magnificent Seven group of mega-caps powered to new highs. US small-caps, which typically do well when the economy is expanding, rose almost 2% for the best session in more than a month. Australian and New Zealand bonds rallied, echoing a rise in Treasuries. Gains were tilted toward the short end with two-year yields falling eight basis points and the 10-year falling by two basis points. The moves reflected an increase in expectations the Fed may cut as early as June. The dollar extended losses, while Treasuries steadied during Asian trading. Policymakers kept their outlook for three cuts in 2024 and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent uptick in inflation. While Jerome Powell continued to highlight officials would like to see more evidence that prices are coming down, he also said it will be appropriate to start easing “at some point this year.” “Asian markets are likely to see a wave of relief rally as traders gain confidence from a clearer view of the near-term picture,” said Hebe Chen, an analyst at IG Markets in Melbourne. “This enhanced sense of certainty is likely to be particularly appreciated by the Japanese market.” The Bloomberg dollar index extended losses after falling 0.4% Wednesday after the move in Treasuries. The yen pared an intraday loss against the greenback early Thursday after declines in the prior session to trade at around 151 per dollar. The New Zealand dollar also reversed earlier losses as gross domestic product data showed the country unexpectedly fell into a recession in the second half of 2023. Output in the fourth quarter contracted 0.1% to mark its second quarter of negative growth. In corporate news, shares in Micron Technology Inc., the largest US maker of computer memory chips, jumped in late trading on a surprisingly strong revenue forecast. Elsewhere, Tencent Holdings Ltd. plans to raise its stock buyback program to at least $12.8 billion this year. Gold rallied to trade over $2,200 an ounce for the first time following the Fed comments. A lower interest rate environment is typically positive for the precious metal, which doesn’t generate interest. Meanwhile, Bitcoin stemmed a recent decline to advance near $68,000. West Texas Intermediate, the US oil price, rose after a Wednesday drop.
