Govt Very Much With Startups, Fintechs: FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday assured the startup community of the central government's unwavering support amidst regulatory scrutiny faced by some of the country's leading startups in recent times.Addressing concerns raised by startups, particularly in the Fintech sector, during a media event in Bengaluru, Sitharaman stressed the importance of regular support and clarifications from regulators to facilitate innovation without being bogged down by governance and compliance issues. Sitharaman revealed that she had a meeting with combined representatives of many startups a “couple of days ago” to understand the concerns after they wrote a letter to the FM. She acknowledged the anxieties expressed by startups during a recent interaction and said, “I’ve had an interaction with startups, particularly the Fintech ones, to understand with what anxiety they wrote that letter to me. It was a fantastic conversation.” She said that there was a need for startups to have dedicated support teams for compliance matters, ensuring that innovation efforts remain unhindered. “I was very glad they voiced the concerns and they may indirectly come out of what is happening. But the regulators were all there with me and they have really understood and they've connected with them,” Sitharaman remarked. “Let me be upfront and say the concerns were not emanating from Paytm’s issues. It was more on regular support that they may need from the regulators, clarifications, which are periodically required, because their core business is not governance and compliance related issues,” she added.It is believed that this meeting had happened in the wake of the RBI’s action against Paytm Payments Bank, which has heightened attention on regulatory compliance within the fintech startups in India. The meeting saw representatives from various prominent entities in both the private and public sectors in attendance. Among those representing the private sector were individuals from notable companies such as Policybazaar, MakeMyTrip, Razorpay, PhonePe, Google Pay, Amazon Pay, CRED and venture capital firm PeakXV. Additionally, key figures from the public sector, including SBI Chairman Dinesh Khara and officials from NPCI, Canara Bank and Bank of Baroda, were reportedly also present. During the Bengaluru event, the Finance Minister said she had proposed practical solutions to address startup concerns, suggesting monthly virtual conferences with regulators like the Reserve Bank of India (RBI). Sitharaman said, “I did tell the RBI that once in a month on a dedicated day, they should do a virtual conference with startups, particularly Fintechs, so that they can answer questions and after that put that as a FAQ, so that others who did not attend, can (still) benefit from it.” Sitharaman reassured startups that the government stands firmly behind them and said, “The government is very much with these startups. We want you to be assured that you will be given all assistance." She ended by stressing on the need to simplify compliances and provide necessary assistance to ensure a conducive environment for startups to thrive. Earlier on Wednesday, The Reserve Bank of India (RBI) introduced an elaborate framework for a 'regulatory sandbox,' aimed at creating a secure environment for emerging fintech startups to experiment with their product ideas before launching them in the market. In a statement issued by RBI, the central bank said that a sandbox setup will enable regulatory authorities to collaborate with startups and formulate regulations that foster innovation, thereby facilitating the provision of cost-effective financial products. The oversight of this sandbox initiative will be under the purview of the fintech division within the RBI.   

BJP can win ‘double digit’ number in Kerala if…: Shashi Tharoor crunches number ahead of Lok Sabha polls 2024

Mocking BJP's claim that it will secure seats in double digits in Kerala in the upcoming Lok Sabha polls, Shashi Tharoor stated on Wednesday, that the only way they could achieve a ‘double digit’ in Kerala would be by obtaining two zeros."Otherwise, there is only one digit coming the BJP's way in Kerala, and that is zero," Tharoor told media. Prime Minister Narendra Modi, during his speech at the BJP meeting in the state, urged voters to vote for the saffron party so that it can win double digits in the upcoming Lok Sabha polls 2024. Commenting on the claim, Thiruvananthapuram MP told ANI, “"I don't think the BJP is going to win a single seat in Kerala. Their strongest performance has always been in Thiruvananthapuram... I am not expecting that they will be anything better than that this time around either. Everywhere else, we have strong candidates." The Thiruvananthapuram MP cited that BJP's reach in Kerala is limited as the saffron party is yet to understand the culture and history of the state. He adds, "I think the BJP's support base is limited in our state. Their kind of appeal is based on Hindutva, Hindi, Hindu and Hindustan- their kind of message does not fly very well here in Kerala." Noting that people of different faiths cohabit peacefully, he said, as reported by PTI, "We have had more than 2,000 years of living together. Our relationship with each other is one of welcome and acceptance," Tharoor said. Kerala welcomed Jews when they came here after the destruction of the First Temple by the Babylonians, which is about 500 years before Christ was born.“Today, Jews tell me this is the only Jewish Diaspora that never knew a single instance of anti-Semitic persecution in the world." On the Christian and the Muslim community in the state, he added, “Similarly, Christianity came with St Thomas, St Thomas of the apostles, it was again welcomed and spread. Then we had Islam coming, not by the sword." “You see, the problem in the north is that they think their history is the only history. We have traders from the Arab world coming to Kerala centuries before the Prophet, and they brought the message of the Prophet as news from their peninsula"  

Rajya Sabha Election 2024: Congress seeks disqualification of 6 MLAs who cross-voted, say sources

Rajya Sabha Election 2024: The Congress party has moved Himachal Pradesh Speaker seeking disqualification of six rebel MLAs who cross-voted on Tuesday, according to sources.The move comes a day after these six MLAs cross-voted and helped BJP candidate Harsh Mahajan win a Rajya Sabha seat from the hill state. Congress is in power in Himachal Pradesh and has 40 MLAs, besides the support of three independent MLAs, in the 68-member house. Despite the numbers, the Congress candidate Abhishek Manu Singhvi lost the Rajya Sabha seat. Singhvi conceded his defeat and 'thanked' the MLAs who cross-voted leading to the victory of Harsh Mahajan. Victory tilted towards Mahajan after a draw of lots was held as a tie-breaker. "I would also like to thank the nine persons (MLAs) because they have taught me a lot about human nature, its fickleness or its resoluteness. They supped with us...So, I think we are bad judges of human character, they are obviously better judges of human character," he said.The cross-voting by the MLAs has left the state government in crisis with the Opposition BJP claiming that the Congress government has lost the majority in the house. Seeking disqualification of rebel MLAs is seen as ruling party's move to save its government. Himachal Pradesh Assembly Speaker Kuldeep Singh Pathania met Governor Shiv Pratap Shukla at Raj Bhavan on Wednesday amid political upheavals in the state. The development comes amid a buzz over the BJP bringing a motion of no-confidence in the assembly against the Congress government in the state during the state's Budget Session which is set to begin today. The Congress has 40 MLAs while the BJP has 25 in the 68-member Himachal Pradesh state assembly. The remaining three seats are held by independents.  

Maryam Nawaz Becomes First Woman Chief Minister of Punjab

"Maryam Nawaz of the PML-N is elected as Pakistan's first female chief minister despite protests and postponements. With 220 votes, she defeated challenger Rana Aftab Ahmed Khan in an overwhelming win. Maryam Nawaz, a prominent figure in the Pakistan Muslim League-Nawaz (PML-N) party and the daughter of former prime minister Nawaz Sharif of Pakistan, has made political history by becoming the first female chief minister of Punjab province. Election Win Despite Opposition Absence parliamentarians' Walkout: Despite the parliamentarians from Imran Khan's party-backed Sunni Ittehad Council (SIC) abstaining from voting, Maryam Nawaz emerged victorious in the chief ministerial elections. Defeat of Opponent: In the election, she defeated Rana Aftab of the SIC, which was sponsored by the PTI. This was a major political victory in the politically vital Punjab province. Oath Ceremony: Opening the Door for Female Leadership Historic Oath: Maryam Nawaz, a 50-year-old senior vice president of the Pakistan Medical Association, formally took the oath of office as Punjab's chief minister, ushering in a historic chapter in the country's political history. Daughter of three-time former prime minister Nawaz Sharif, senior PML-N leader Maryam Nawaz was chosen to run Punjab province on February 26, making history as the first female chief minister of a province in Pakistan. She called the position a ""honour"" for all women in the nation. In the middle of a walkout by parliamentarians from the Sunni Ittehad Council (SIC), which is sponsored by former prime minister Imran Khan's party, Maryam, a 50-year-old senior vice president of the Pakistan Muslim League-Nawaz (PML-N) party, emerged victorious in the chief ministerial elections. On Monday, Maryam Nawaz, 50, the daughter of former Pakistani prime minister Nawaz Sharif, took office as the country's first female chief minister of West Punjab. After winning the race for chief minister and taking the oath of office on Monday, Maryam, the senior vice-president of the Pakistan Muslim League-Nawaz (PML-N), declared in her first speech in the Punjab Provincial Assembly that it is the ""victory of every woman, every mother, and every sister."" As she spoke, a picture of her late mother Kulsoom appeared by her side. ""This triumph is not solely mine today. It is the triumph of every mother and woman.and hopefully I won't be the last. Even after I'm gone, women should continue to win, she continued. "

Geeta Batra’s Historic Appointment to the World Bank’s GEF

"Renowned Indian economist Geeta Batra has been named Director of the World Bank's Global Environment Facility (GEF) Independent Evaluation Office (IEO). Batra's selection is a noteworthy achievement because it makes her the first woman from a developing nation to hold this esteemed position. History and Profession Geeta Batra, who is 57 years old, brings a plethora of knowledge and experience to her new role. She was the GEF's IEO's Chief Evaluator and Deputy Director for Evaluation before being appointed to this position. Her work has been marked by a strong dedication to environmental development and sustainability, with an emphasis on using assessment as a tool to increase the effectiveness of environmental efforts. The Procedure for Appointments At the 66th GEF Council Meeting, held in Washington on February 9, there was a unanimous recommendation that Batra be appointed to the directorship. The announcement, which was made last week, was well welcomed and demonstrated the support that the world community has for her vision and leadership skills. Importance of the Scheduling Batra's appointment is a source of pride for developing countries as well as a personal accomplishment. It highlights the growing acknowledgement of women's leadership roles in international organizations and heralds a progressive change toward more inclusive and diverse representation. The Part to Play In her capacity as the GEF's Director of the IEO, Batra will be essential in determining the course of international environmental initiatives and policy. She will be in charge of making sure the GEF's initiatives and programs are evaluated to the highest possible standards of sustainability and efficacy. Under her leadership, the IEO is anticipated to further its goal of supporting sustainability and environmental health by thorough assessment and tactical direction. "

Government Appoints A S Rajeev, former MD and CEO of Bank of Maharashtra, as Vigilance Commissioner

"A S Rajeev, a former CEO and managing director of Bank of Maharashtra, has been named by the government to the position of Vigilance Commissioner at the Central Vigilance Commission (CVC). Details of the Appointment A S Rajeev left his role as CEO and Managing Director of Bank of Maharashtra on his own volition. Rajeev's plea to retire has been approved by the Department of Financial Services. A notification (no. 13/8/2016-BO.I) dated February 22, 2024, was used to make the appointment. The Central Vigilance Commissioner and two other Vigilance Commissioners make up the Commission's three members, as stated in the Central Vigilance Commission Act. Maharashtra's ank Declaration A S Rajeev's appointment to the position of Vigilance Commissioner at the Central Vigilance Commission was confirmed by a regulatory document filed by the Bank of Maharashtra. A S Rajeev was the CEO and Managing Director of Bank of Maharashtra, a public sector bank, before this assignment. Rajeev voluntarily decided to step down as the CEO and Managing Director of Bank of Maharashtra last week. A letter from the Department of Financial Services (DFS) states that his request has been approved by the appropriate authorities. "

Shehbaz Sharif to be Pakistan PM and Asif Ali Zardari President

"The Pakistan Peoples Party (PPP) and the Pakistan Muslim League-Nawaz (PML-N) have agreed to share power. The Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP), two influential political parties in Pakistan, have made the decision to share power. This implies that Asif Ali Zardari would become President and Shehbaz Sharif will resume his role as Prime Minister. It's similar to when two captains from opposing teams agree to collaborate in order to win. Resolving a Political Impasse Pakistan's political landscape seems somewhat stagnant following the February 8 elections. In the National Assembly, which is the main decision-making body of the nation, no party was able to secure enough members for a clear majority. With 79 seats, the PML-N and the PPP, with 54 seats, came in third. However, the Muttahida Qaumi Movement Pakistan (MQM-P) with its 17 seats provide them with sufficient backing to establish a government. Significant Obstacles to Come Having established who is in command, they now have some difficult issues to resolve. Pakistan's financial status is precarious; last year, they just escaped going bankrupt due to a sizable loan from the International Monetary Fund (IMF). They also have to cope with safety concerns, particularly since the Taliban have been causing trouble in Afghanistan since 2021. Putting What's Important First Asif Ali Zardari and Shehbaz Sharif have a lot on their plates. They must ensure that the nation's economy. "

Ashish Vijayakar Appointed as MD & CEO of SBM Bank India

"Ashish Vijayakar said, ""I want to express my gratitude to the Board for giving me the leadership role in guiding SBM Bank India towards the next phase of growth."" With effect from February 17 for a period of three years, Ashish Vijayakar has been named Managing Director and Chief Executive Officer of SBM Bank India. The statement was released on Friday. A division of the State Bank of Mauritius is SBM Bank India. The appointment was made in compliance with the sanction given by the Reserve Bank of India (RBI) in a letter dated February 6, 2024, according to a statement. Vijayakar is a seasoned banker, having worked in the banking and financial services sectors for nearly thirty years. He has previously served as Standard's MD and Co-Head. Ashish Vijayakar has been named as the Managing Director and Chief Executive Officer (MD & CEO) of SBM Bank India. Ashish Vijayakar has been appointed as the Managing Director & Chief Executive Officer (MD & CEO) of SBM Bank India, a subsidiary of the State Bank of Mauritius. The Reserve Bank of India (RBI) has authorized the appointment in accordance with a letter dated February 6, 2024, and it will take effect on February 17, 2024. Knowledge and Skill. In his new position, Ashish Vijayakar brings a breadth of experience, especially in the areas of risk management, innovation, business transformation, and adjusting to shifting business conditions. His broad expertise and varied skill set make him an excellent choice to guide SBM Bank India through its subsequent stage of expansion and improvement. Background in Education Ashish Vijayakar is certified as a chartered accountant (CA) by the Institute of Chartered Accountants of India and has a Bachelor of Commerce degree from Bombay University. He also holds an LLB (General) degree from Bombay University, proving his dedication to lifelong learning and career advancement. Key lessons learned from all competitive exams SBM Bank in India Founded on December 1, 2018; Mumbai, India serves as the headquarters of SBM Bank India. ""We are confident that Ashish, along with the current management team, will reinforce the existing bonds between the bank and its stakeholders and provide seamless continuity to the service to our customers while enhancing the spectrum of strategic endeavors of the bank with his expertise,"" stated Sattar Hajee Abdoula, Chairman of SBM Bank India. His vision and unrelenting commitment to excellence are a perfect fit with our goals and desires."

Reliance Industries is set to launch Hanooman a ChatGPT-style AI service

"Mukesh Ambani's Reliance Industries is about to launch ""Hanooman,"" a ground-breaking ChatGPT-like service, in association with some of the top engineering schools in the nation. Next month, Reliance Industries, under the leadership of Mukesh Ambani, will launch ""Hanooman,"" a ground-breaking ChatGPT-like service, in partnership with some of the top engineering schools in the nation. With the potential to usher in a new era of digital innovation and accessibility, this program represents a critical turning point in the development of AI capabilities within India. Teamwork at its Foundation. Reliance Jio Infocomm, Center, and multiple Indian Institutes of Technology (IIT), particularly IIT Bombay, collaborated closely to build ""Hanooman."" This joint venture, involving a group from Reliance and eight partner universities, highlights the cooperation between India's top business force and its universities are pushing the boundaries of technology. An Advance Look at ""Hanooman"" The capabilities of ""Hanooman"" were demonstrated to delegates of a recent technology conference in Mumbai. A banker conversing with the AI in Hindi, a motorcycle mechanic communicating with it in Tamil, and a Hyderabadi developer utilizing it to code were among the demonstrations. This preview demonstrated ""Hanooman's"" competence managing intricate relationships in a range of professional domains. Multicultural and Diverse. Hanooman's ability to function in 11 local languages and serve a variety of industries, such as healthcare, governance, financial service. With its speech-to-text and multilingual capabilities, ""Hanooman"" is positioned as an extremely adaptable and user-friendly AI model that is prepared to completely change India's digital environment. India's AI Future - The release of ""Hanooman"" coincides with a period of significant expansion for the AI industry in India, as companies like Sarvam and Krutrim—supported by well-known investors like Lightspeed Venture Partners and Vinod Khosla's fund—are also attempting to develop open-source AI models customized for the Indian environment. With aspirations to create unique models for particular applications through ""Jio Brain,"" Reliance Jio's vision goes beyond ""Hanooman"" and uses AI to improve its offerings for its roughly 450 million subscribers. An Unusual Public-Private Collaboration. The idea of BharatGPT is an innovative example of a public-private partnership; it brings together important players from various sectors to collaborate on developing and implementing AI solutions that are specifically tailored to India's need. This collaborative model not only demonstrates the potential for creativity, but it also establishes a standard for the nation's future technical accomplishments. "

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Next-gen reforms top of agenda for govts third term: FM Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the next-generation reforms would be on top of the government’s agenda in its third term. The plan will touch upon factors of production, such as land, labour, capital, and entrepreneurship, along with digital infrastructure. Her statement comes a day after she met startup and fintech ecosystem stakeholders to address their concerns and encourage them to continue innovations while keeping a close watch on regulatory norms. “The reforms will touch on all factors of production — be it land, labour or capital. I’ll also add one, which may not fit into the traditional definition of what factors of production are, and that is digital infrastructure,” she said at the Federation of Indian Chambers and Commerce of Industry’s national conclave on Viksit Bharat@2047: Viksit Bharat & Industry. The government, she said, was looking at investment and innovation in artificial intelligence, policy support for expanding the space sector and semiconductor, precious metals and their warehousing as well. It will also ramp up investment in the logistics sector that has immense untapped potential along with tourism.   She said India had shown how public investment is creating digital infrastructure at the bottom, and scaling it up has given the country the proverbial India stack —  building it up brick by brick.  “The reason why the prime minister is confident that a third term (for the government) is going to ensure India reaches the level of the third- largest economy is because of the push in these areas. Not just fiscal push, but legislative and other push as well,” Sitharaman said.       During the Group of 20 (G20) summit, the finance minister said, countries expressed their appreciation of what India had done in terms of spreading the digital public infrastructure and its virtue in scaling up the development goals. “This is your modern day factor of production, without which you won't be able to scale up and bridge the gap between those who are still aspiring to develop and move forward,” she said. Pushing the industry to increase investments, Sitharaman said they should move forward with a great speed if global investments are coming in and look for greater joint venture partners around the world. “They’re coming in because they see prospects here…It is time for Indian industry to join this game in a big way,” she added.     

The many failures behind each ‘success story’ 

A few years ago, I was talking about success and failure at a start-up event. The convention is to end by wishing the assembled entrepreneurs great success, which, honestly, no one notices because it’s a bit like asking “How are you doing?” and not waiting for an answer. Instead, I started by wishing the audience lots of failures. After the initial surprise, I managed to get their undivided attention and we had a wonderful discussion on the following points.       

7 Calendar Features You May Not Be Using — But Should

Only in the last decade or so have more and more people come to use a digital calendar, which can act like your personal assistant. Still, so many features of the digital calendar go underutilized when using them could dramatically change your workday and even your life.The world is busier than ever — hustle and bustle are the name of the game — and it can be hard to keep up with it all. To help, most people use a calendar in some form or another; indeed, many people have multiple calendars. From a large desk planner to the cute designs you can hang on your wall, calendars help keep you on track.If you’re using a digital calendar like Calendar, Google Calendar, or Microsoft Outlook, you probably have multiple versions set up for different areas of your life. The most obvious are family, personal, and work. You need to remember your kid’s soccer game, your afternoon yoga class, and that big meeting after lunch. All of this is great unless all of your calendars aren’t synced. Syncing your various calendars will ensure you don’t overextend yourself. It will also allow anyone else adding items to your calendar — your assistant, your spouse, or a team member — to avoid double-booking you. You can sync your calendars both within a single application or across your devices. So, if you have Google Calendar for work but use Microsoft Outlook for your family, you can get them on the same page. Syncing your calendars requires a step-by-step process, but once you’ve done it, your life will likely feel much more streamlined. Gone are the days when you could simply schedule something in your planner and trust that you would remember it. Maybe you’d review your day in advance and lock it into your memory. No — now you have dozens of to-dos all in one day, and missing one could be catastrophic. Everyone has done it. You missed your kid’s performance in the play because you got caught up in a meeting. You were late to your meeting because your focus time ran long. It happens, but it doesn’t have to. Set reminders for yourself on your calendar to avoid these common mix-ups and mistakes. You can alert yourself the day before, an hour before, and 10 minutes before. Why not do all three? Missing the essential things in life and work doesn’t mean you don’t care; it just means you’re not prepared. Set reminders and alerts and aim to never miss another important part of life. If you are on any team, you should be sharing your calendar. Most people are on multiple teams. Think about it — you have your family, staff, coworkers, friends, and maybe even extended family. All of these small groups make up teams, and you likely have tasks, gatherings, and meetings to perform and attend together. One of the most critical aspects of a strong, cohesive team is getting everyone on the same page. You don’t want to have a social gathering and forget to invite one of your friends. Likewise, you can’t effectively lead a project without keeping everyone aware of the benchmarks and deadlines. Calendar sharing is ideal for keeping everyone on track of what’s happening. Everyone on the team can add items, and everyone will get alerts when they’re added. Then, if you’ve synced your calendars, you’ll be sure not to overbook yourself — it’s a win/win.  

J&Ks new startup policy to boost entrepreneurial spirit in students, women and HNIs. All you need to know

The Jammu and Kashmir administration, chaired by Lieutenant Governor Manoj Sinha, on February 23 gave the nod to a fresh startup policy aimed at establishing 2,000 new startups in the Union Territory by 2027, an official spokesperson told PTI.The newly approved policy focuses on providing entrepreneurship support facilities to students, women, and entrepreneurs. Support will be extended through government, private entities, and high-net-worth individuals (HNIs) to facilitate the setup of startups, it added. The Administrative Council (AC) convened under the chairmanship of Lieutenant Governor Manoj Sinha approved the J&K startup policy 2024-27, superseding the policy announced in 2018.As part of the initiative, the Jammu and Kashmir administration plans to establish a Venture Capital Fund of ₹250 crore. An initial capital injection of up to ₹25 crore will be infused into the fund. The venture capital fund will primarily invest in recognised startups within J&K. Detailed modalities for the fund's creation and usage will be worked out in consultation with the finance department.The J&K Entrepreneurship Development Institute (JKEDI) is expected to develop a mechanism for the allotment of land to startups displaying significant growth potential.Furthermore, one-time assistance in the form of seed funding, up to ₹20 lakh (provided in four equal instalments), will be offered to startups recognised by JKEDI. This seed funding support will have a cap of 25 startups per year, aligning with budget constraints and the goal of effectively supporting a manageable number of startups.The government aims to establish 2,000 startups over the next three years. While prioritising quantity, the administration emphasises supporting a smaller number of carefully selected startups with seed funding. To ensure effective implementation, a high-powered committee, led by the chief secretary, will monitor the scheme's progress. Additionally, a task force committee, headed by the administrative secretary of Industries and Commerce, will oversee the day-to-day implementation of the startup policy.The decision to revamp the existing startup policy stems from the administration's commitment to nurturing and inspiring entrepreneurial talent in Jammu and Kashmir, the official told PTI.  

NBCC stock jumps over 3% after signing MoUs with HUDCO

NBCC (India) has entered into two memorandum of understanding (MoU) with Housing and Urban Development Corporation Limited (HUDCO). NBCC stock surged 3.95 per cent on the NSE as of 11.32 am on Thursday to trade at ₹144.70. The MoUs pertain to reinforcing cooperation and collaboration to leverage respective strengths for the effective implementation of consultancy services and for the effective implementation of asset monetisation activities. In addition, NBCC had obtained the in-principle approval from Greater Noida Authority for the development of unused and purchasable FAR in furtherance of five existing projects of Amrapali valued at ₹10,000 crore.The stock had earlier hit a 52-week high on February 5, 2024, at ₹176.85.Meanwhile, HUDCO stock traded at ₹195 on the NSE, down by 0.43 per cent.    

Stage to get cleared for Hindujas to hike stake in IndusInd Bank

Nearly a year after making a formal application to the Reserve Bank of India (RBI) for hiking stake in IndusInd Bank, the Hinduja Group is expected to get a go-ahead from the banking regulator. According to sources aware of the matter, the approvals to increase stake in the bank is likely to come through by end of this fiscal. IndusInd International Holdings Ltd, promoted by Ashok Hinduja, and its affiliate entity collectively hold around 16.5 per cent stake in IndusInd Bank. This can be increased to 26 per cent once the approval comes through formally.Nearly a year after making a formal application to the Reserve Bank of India (RBI) for hiking stake in IndusInd Bank, the Hinduja Group is expected to get a go-ahead from the banking regulator. According to sources aware of the matter, the approvals to increase stake in the bank is likely to come through by end of this fiscal. IndusInd International Holdings Ltd, promoted by Ashok Hinduja, and its affiliate entity collectively hold around 16.5 per cent stake in IndusInd Bank. This can be increased to 26 per cent once the approval comes through formally.      

KVS Manian Appointed As Kotak Mahindra Bank’s New JMD

"Private lender Kotak Mahindra Bank made some significant leadership changes public on March 1, including naming KVS Manian as JMD (Joint Managing Director). Kotak Mahindra Bank, a private sector lender, recently revealed notable leadership changes that indicate a strategic change inside the company. KVS Manian Has Been Promoted to Co-Managing Director - Kotak Mahindra Bank redesigned KVS Manian, a seasoned executive with almost three decades of experience inside the organization, as the joint managing director with effect from March 1st. Manian has a plethora of experience, having graduated from the esteemed Indian Institutes of Technology (BHU) in Varanasi with degrees in both financial management and electrical engineering. Ekambaram Shanti Deputy Managing Director appointed With more than three decades of experience at Kotak Mahindra Bank, Shanti Ekambaram is a valuable addition to Manian's executive team. Ekambaram, who holds certifications as a Cost and Works Accountant and Chartered Accountant, and has a history in commerce, is a valuable addition to the bank's leadership team as deputy managing director. Chief Financial Officer Devang Gheewalla is appointed Devang Gheewalla will take over as chief financial officer in April, replacing Jaimin Bhatt in that position. Gheewalla will bring his vast financial experience to the forefront of Kotak Mahindra Bank's operations with this appointment, which also designates him as the president and group chief financial officer. To Take Over as Chief Operating Officer Is Milind Nagnur Milind Nagnur, the current chief technology officer, will assume the additional role of chief operating officer in April as part of a calculated drive to improve operational efficiency. The bank's dedication to utilizing technology and strengthening cybersecurity measures is demonstrated by Nagnur's dual function. Paul Parambi Becomes the Chief Risk Officer of the Group Paul Parambi has been named as the group chief risk officer by Kotak Mahindra Bank, with effect from March, in recognition of the vital necessity of risk management. The bank's risk management system Growth and Continuity under Ashok Vaswani, the New CEO The appointment of Ashok Vaswani as the new CEO, succeeding founder Uday Kotak, prompted a reorganization of the leadership. Former Barclays veteran Vaswani took office on January 1st after the Reserve Bank of India approved his three-year appointment. His direction lays the groundwork for Kotak Mahindra Bank to continue expanding and innovating. "

Pradeep Kumar Sinha Appointed as Non-Executive Part-time Chairman of ICICI Bank

"ICICI Bank authorized Mr. Pradeep Kumar Sinha's appointment as an Additional (Independent) Director for a term of five years at a recent board meeting. At a recent board meeting, ICICI Bank announced the appointment of Mr. Pradeep Kumar Sinha as Non-Executive Part-Time Chairman. With effect from June 30, 2024, this decision comes after the present Chairman, Mr. G. C. Chaturvedi, announced his retirement. Appointment at ICICI Bank authorized for a five-year term, subject to shareholder approval, as an Additional (Independent) Director, effective immediately. Designated as the Non-Executive Part-time Chairman, succeeding Mr. G. C. Chaturvedi, effective July 1, 2024, or upon RBI approval will take over in this role until February 16, 2029, covering Mr. Chaturvedi's retirement. Context Throughout his remarkable forty-year career, Mr. Pradeep Kumar Sinha has served in the Indian Administrative Service (IAS). He obtained his M. Phil in Social Sciences and has a Masters of Economics from the Delhi School of Economics. He has held a number of important roles during his career, including the position of Cabinet Secretary, which is the highest senior civil servant in India, for more than four years. He has worked in government ministries for a long time, mostly in the Power and Oil & Gas industries. Career Path Upon graduating from Delhi School of Economics with a master's degree in economics, he joined the Indian Administrative Service in 1977. Earned a diploma in economics with honors from Delhi's St. Stephens Collegeheld a visiting position after earning an M. Phil in the social sciences in 1991. a fellow at Oxford University in 1999. attended esteemed courses on ""Leaders in Development"" at Harvard University and ""Mergers and Acquisitions"" at Stanford University. Public Sector Employment Before joining the Government of India, they worked in the State of Uttar Pradesh in a variety of positions. held important positions for about 15 years in the Ministries of Power and Oil & Gas. held the post of Cabinet Secretary for almost four years, supervising the operation of the civil services. retired in March 2021 from the Prime Minister's Office following 44 years of devoted national service."

Nikhil Joshi Appointed As Managing Director of Boeing Defence India

"By designating Nikhil Joshi as the managing director of Boeing Defense India (BDI), Boeing has taken a big step to improve operations and forward its growth strategy in India. Nikhil Joshi's appointment as the managing director of Boeing Defense India (BDI) is a major step toward improving Boeing's operations and advancing its expansion strategy in India. By making this calculated move, Boeing is demonstrating its resolve to strengthen its position in one of the biggest defense markets globally and support India's defense forces' modernization and mission readiness initiatives. The Leadership of Nikhil Joshi: A Veteran's Return Nikhil Joshi, a resident of New Delhi, has over 25 years of experience in the aerospace and defense industries, including a notable career in the Indian Navy. He brings this wealth of knowledge to Boeing. He plays a crucial position at Boeing, leading both ongoing and upcoming initiatives that would improve the military forces of India's operating capacity. Under Joshi's direction, close cooperation between Boeing's global military and services industries is anticipated. Joshi reports directly to Salil Gupte, president of Boeing India and South Asia. An Outstanding Path. Joshi worked as the country manager for Eaton Aerospace in India before joining Boeing, where he made a big impact on growing the company's commercial reach. Among his many skills is commanding frontline ships and aviation squadrons, in addition to more than 4,000 hours spent in the air on different types of maritime reconnaissance aircraft. Joshi's varied background makes him a perfect leader to guide BDI toward its lofty goals in India. Boeing's History and Promise in India bolstering the Indian military arsenal. The fact that Boeing has maintained a partnership with India for more than 80 years shows how committed the firm has been to the nation's aerospace and defense industries. The strategic significance of this alliance is demonstrated by India's defense arsenal, which includes a variety of Boeing platforms, including C-17s, AH-64 Apaches, CH-47 Chinooks, P-8Is, VVIP, and Head of State aircraft. centered on the creation of sustainable value Boeing is deeply committed to India's larger aerospace ecosystem in addition to its sales efforts there. This entails cultivating regional vendors, forming partnerships in academia and research, and building a strong supply chain that presently counts over 310 regional businesses as members. A key component of this strategy is Boeing's joint venture, which produces vertical fin structures for the 737 family of aircraft and fuselages for Apache helicopters. "