HDFC Bank seeks Singapore bank license to grow overseas

HDFC Bank, India's largest private sector lender, is seeking approval for a banking license in Singapore. The bank aims to tap into the Indian diaspora in Singapore for savings and term deposits, as well as cross-sell products like mortgages. HDFC Bank already has a presence in London, Hong Kong, and Bahrain. With a customer base of 93 million, the bank is expanding its reach overseas after a merger with Housing Development Finance Corp. last year.HDFC Bank Ltd, India’s biggest private sector lender, is seeking to open its first branch in Singapore, signaling its overseas ambitions after sewing up a landmark merger with mortgage financier Housing Development Finance Corp. last year.  The bank has applied to the Monetary Authority of Singapore for a banking license and is awaiting approval, according to sources familiar with the matter. It is not clear what kind of banking license HDFC Bank is seeking in Singapore, said one of the people, who declined to be identified as the information is confidential. The banking giant is seeking a bigger presence abroad to tap the Indian diaspora for savings and term deposits, as well as to cross-sell more products, including mortgages, the people said. At home, HDFC has been focusing on deepening its reach in the world’s most populous country through loans to retail customers. HDFC Bank did not respond to an email seeking comment. “As a matter of policy, MAS does not comment on our dealings with financial institutions,” according to a spokesperson from the Singapore regulator. Singapore, with a population of almost 6 million people, houses a large India diaspora. About 650,000 non-resident and persons of Indian origin live in the city-state, according to Indian government data.HDFC Bank is currently not licensed or regulated by the MAS, according to its website. It only provides home loans-related advisory services for the purchase of properties in India, the website states. The categories of banking licenses in Singapore encompass full banks, qualifying full banks and wholesale banks, which impose varying levels of restrictions on the lenders’ activities. State Bank of India and ICICI Bank Ltd. hold qualifying full banking licenses, alongside eight other banks like Bank of China Ltd. and BNP Paribas SA. Such licenses are open only to foreign banks and allow them to have additional branches and/or off-premise ATMs as well as to share ATMs among themselves, according to the Association of Banks in Singapore’s website.The MAS regulates and supervises more than 150 deposit-taking institutions in Singapore, ranging from full banks to finance companies, according to its website.  

Teslas winter woes: A storm of challenges and disruption

Tesla is grappling with operational, strategic, and environmental challenges that impact its stock value and investor focus. The recent challenges placing Tesla in the headlines, including operational disruptions, strategic market adjustments, and technological limitations in cold weather, have impacted its stock price, contributing to a 13% decline in the past thirty days. Tesla's analysts are concerned about business growth, which has shown signs of deterioration in recent quarters. This, combined with the company's high valuation, makes some analysts cautious about Tesla's stock in the medium term.Despite these concerns, Tesla's diverse business operations beyond just manufacturing cars offer some optimism. Its advancements in other areas, like energy solutions and technology innovations, provide potential growth avenues. However, the company's core focus on car manufacturing is subject to market cyclicality, which currently does not favor bullish sentiments.Investors eagerly anticipate the release of the Q4 earnings report and guidance for the fiscal year 2024, as it will impact the company's stock valuation. Manufacturing efficiency and the number of vehicles manufactured are pivotal in influencing investors' interest. While some investors maintain a positive outlook based on potential long-term growth, Tesla’s overall sentiment is a mix of optimism and caution. Some investors and Tesla stock analysts have adopted a bearish stance due to the company's prevailing challenges and market dynamics. Tesla's Berlin gigafactory is pivotal to its European market growth. The Berlin gigafactory has recently halted operations due to supply chain issues linked to the Red Sea blockade. This crucial maritime channel is integral to global trade, and its disruption has had a domino effect, underlining the vulnerability of global manufacturing networks to geopolitical strife. The Berlin factory, known for its state-of-the-art production capabilities, now faces uncertainties that concern investors, particularly regarding potential delays in vehicle production and distribution. This halt impacts Tesla's operational efficiency and places added pressure on its stock value as the market reacts to these unforeseen challenges and the possible implications for Tesla's European market performance and overall global supply chain efficiency.In response to intensifying competition in China and Europe, Tesla has strategically reduced prices for select models in these key markets. This price adjustment is calculated to strengthen Tesla’s standing, especially in China, where the demand for affordable electric vehicles is rapidly expanding. While this strategy could potentially increase Tesla's market share in the short term, it raises crucial questions about its long-term effects on its profitability and financial health. These concerns are particularly pertinent for investors as they weigh the implications of Tesla's pricing strategy on its future revenue streams and overall market sustainability.   

Indias most valuable PSU remains a wealth destroyer

Life Insurance Corporation of India (LIC) overtook State Bank of India on Wednesday to become India's most valuable state-run company in terms of market capitalisation. At the start of trading on Wednesday, LIC had a market capitalisation of ₹5.66 lakh crore, compared to SBI's ₹5.64 lakh crore, though SBI recovered from opening lows to reclaim the top spot for a brief period again. However, despite becoming India's most valued company, LIC has caused loss of investor wealth. The stock listed at a discount in May 2022, a level it only crossed on Tuesday, nearly two years after listing. Although the stock has crossed the retail IPO price of ₹904, it remains below the original IPO price of ₹949. Over the last 12 months, the stock has gained only 27%, compared to other PSE index constituents like REC, PFC, BHEL and HAL, which have gained anywhere between 140% to 250% over the same time frame. In fact, LIC shares are the second-worst performers on the Nifty PSE index over a 12-month period, only ahead of Container Corporation of India, which is up 25%. LIC remains India's biggest IPO where the government sold a 3.5% stake to mobilise over ₹21,000 crore. That is the only stake sold in the open market yet as the government continues to hold the remaining 96.5%. DIPAM Secretary Tuhin Kanta Pandey in his prior interactions with CNBC-TV18 had mentioned that an LIC Follow-On Public Offer (FPO) is not on the cards yet. Additionally, unlike other PSUs, LIC has been granted an exemption from complying with minimum public shareholding norms. It can achieve the 25% minimum public shareholding by May 2032, instead of the usual three years. LIC shares have recovered from their 52-week low of ₹530 and despite this rally are trading at 0.85 times price-to-embedded value. Shares of LIC are trading 0.6% lower at ₹887.2. The stock is up 11% over the last month.  

Ram Mandir News - RJD chief Lalu Yadav to skip Ram Mandir Pran Pratistha ceremony

Ahead of the pranpratishtha ceremony, Ayodhya Ram Temple Construction Committee Chairman, Nripendra Mishra says, “…a historic event…There is not only in India but all over who have faith, they feel that their rights have been recognised, their faith has been respected. So, from that sense of the term, there is jubilation. But at the same time, I would say and I believe what the PM said in 2019 when the judgement came – there should be no sense of victory or there should be no sense of defeat. We must all accept the judicial pronouncement. So, everyone is cautious that while you celebrate this day, don’t celebrate this day as something which is to show any other person of a different faith that he is less important to this country. This country belongs to everybody.” Priest Sunil Das in Ayodhya says, “This Ayodhya temple will be the centre for universal peace centre….” Priest Sunil Das conducted religious rituals in the ‘Garbha Griha’ of Ayodhya Ram Temple today. Union Minister Anurag Thakur criticized the Congress and other opposition parties for staying away from the Ram temple consecration ceremony in Ayodhya. Thakur, accompanied by Delhi BJP chief Virendra Sachdeva, participated in a cleanliness drive at the Valmiki temple premises. He warned that the opposition’s decision to boycott the ceremony might lead to people boycotting them, citing past instances when public support waned due to similar actions. The “pran pratishtha” ceremony is scheduled for January 22 as part of the BJP’s “Swachhata Sewa” programme. Former Chief Minister and RJD chief Lalu Prasad Yadav, on Wednesday, said that he will not be attending the Pran Pratishtha ceremony at the Ram Mandir in Ayodhya on January 22.“I will not go to Ayodhya to attend the pran partishtha ceremony of the Ram temple,” he said.   

Sensex tumbles 1,628.01 points to close at 71,500.76; Nifty plunges 460.35 points to 21,571.95

The company has received additional orders worth ₹339.31 crore since the last disclosure on 26th Dec 2023 and these orders pertain to Combat Management System, Composite Communication System, Transmit / Receive Modules, Mobile Autonomous Stabilization System and other spares / services, said BEL in a filing to the exchanges. Nifty Banks Slides More Than 4%, Biggest Fall Since February 2022. HDFC Bank Records Worst Day In 3 Years, Falls Over 8% After Earning. HDFC Bank Contributes Over 50% Fall To Both Nifty & Nifty Bank. HDFC Bank Reacts Sharply To Earnings, Erases `1 Lk Cr Market Cap. BSE-listed Cos Erase Market Cap Of `4 Lakh Cr Today. All Sectoral Indices Close In The Red While Volatility Index Surges 11%. Sensex Slides 1,628 Points To 71,501 & Nifty 460 Points To 21,572. Nifty Bank Falls 2,061 Points To 46,064 & Midcap Index 516 Points To 47,152Except Bandhan, All Nifty Bank Constituents End In The Red. IEX Slides 11% On Power Minister’s Mkt Coupling Comment. Asian Paints Reports Earnings In-Line, Stock Is Down 2%. Pricol Sees Block Deals Of Over 15%, Minda Corp & PE Likely Sellers. IT Stocks See Buying Amid Market Sell-off, Most IT Stocks In The Green. ICICI Lombard Surges After An Improved Showing In Q3, Up 6%. L&T Tech Surges Despite Reporting Below-than-expected Results, Up 4%. Polycab Extends Gains, Closes With A Gain Of 2% Ahead Of Results. Market Breadth Fvaours Declines, Advance-Decline Ratio At 1:3.In what was touted to be a takeover attempt, Minda Corp mentioned that this was only a financial investment and will not fetch them any special rights in Pricol other than those of a normal shareholder. The management of Pricol had told CNBC-TV18 on February 17 that the promoters have no intention to sell any stake in the company as it is on the path of growth and is doing well. "I definitely do not want to sell. I'm 1,000 percent committed to this business," Mohan said. "Our market share has gone up. We have a very strong order book, zero long term debt, healthy cash profits, capacity, and we know we are on a growth curve. So why would I sell?" he further added. On January 4 this year, India's competition regulator had said that prima facie, the proposed merger by Minda may have adverse on competition and that it intends to conduct further inquiry into the process. Shares of Pricol are off the day's low, currently trading 2% lower at ₹360.70, while those of Minda Corp have surged to the day's high, currently trading 3% higher at ₹395.75.  

Süd-Chemie India Pvt. Ltd.

The chemical manufacturing industry is currently undergoing a significant transformation, marked by a surge in demand for sustainable products and a shift towards circular economy practices. At the forefront of driving this change is Süd-Chemie India Pvt. Ltd. (SCIL), a pioneering company led by CEO Mr Prakash Babu Surya. Founded in 1969 as Catalysts & Chemicals India (West Asia) Pvt. Ltd., the company emerged as a leader in catalysis. Subsequent mergers and acquisitions led to transformations, with the company being renamed United Catalysts India Ltd. (UCIL) in 1979 and Süd-Chemie India Pvt. Ltd. (SCIL) in 2000 with Süd-Chemie A.G. Germany acquiring CCI, USA’s shares. Acquired by Clariant International in 2011, SCIL now stands as a global giant, delivering catalyst solutions and catering to both Indian and international markets. Their strength lies in a profound understanding of chemistry and its applications, addressing the specific needs of clients in both Indian and international markets. SUD Chemie India Private Limited is a Non-govt company, incorporated on 28 Feb, 1969. It's a private unlisted company and is classified as'company limited by shares'.Company's authorized capital stands at Rs 100.0 lakhs and has 96.23% paid-up capital which is Rs 96.23 lakhs. SUD Chemie India Private Limited last annual general meet (AGM) happened on 19 Sep, 2017. The company last updated its financials on 31 Mar, 2017 as per Ministry of Corporate Affairs (MCA).SUD Chemie India Private Limited is majorly in Manufacturing (Metals & Chemicals, and products thereof) business from last 54 years and currently, company operations are active. Current board members & directors are ARSHIA ALTAF LALLJEE, ISKANDER ALTAF LALLJEE, HAMIDA ALTAF LALLJEE, ADNAN WAJHAT AHMAD, DEEPAK RASIKLAL PARIKH, STEFAN CHRISTOF JOHANNES HEUSER, KARL HOLGER DIERSSEN and NYELA KALSIA .Company is registered in ROC-Ernakulam (Kerala) Registrar Office. SUD Chemie India Private Limited registered address is EDAYAR INDUSTRIALDEVELOPMENT AREA BINANIPURAM P O ALUVA ERNAKULAM KL 683502 IN.    

GSP Crop Science Pvt. Ltd.

Carl Zeiss India's Medical Technology Division recently participated in Phaco Festival organized by Nethradhama Super Speciality Eye Hospital, Bengaluru, a world-class facility focused primarily on quality eye care with state-of-the-art technology and highly skilled doctors. The two-day conference, renowned for highlighting cutting-edge advancement of technologies used by ophthalmologists, took place on 13th and 14th January 2024, in Bengaluru. The conference was attended by distinguished national and international faculty who shared their invaluable insights, encompassed Masterclasses, 3-D Live Surgeries, and Skill Transfer Courses among others. At the Phaco Festival, the spotlight shined on ZEISS's transformative impact on the Cataract and Corneal Refractive Workflows. ZEISS technology redefines the diagnosis and treatment of cataracts, offering a comprehensive and integrated approach to surgery. By merging state-of-the-art imaging, diagnostics, and surgical technologies, ZEISS aids ophthalmic surgeons in enhancing efficiency and clinical outcomes for cataract procedures. At the Phaco Festival, the spotlight shined on ZEISS's transformative impact on the Cataract and Corneal Refractive Workflows. ZEISS technology redefines the diagnosis and treatment of cataracts, offering a comprehensive and integrated approach to surgery. By merging state-of-the-art imaging, diagnostics, and surgical technologies, ZEISS aids ophthalmic surgeons in enhancing efficiency and clinical outcomes for cataract procedures.Dr. Sri Ganesh, MD, Chairman of Nethradhama Super Specialty Eye Hospital, Bangalore, expressed his confidence in ZEISS Medical Technology: "The ZEISS Cataract Workflow is integral to my practice, seamlessly integrating diagnostics and therapeutics, providing peace of mind. It minimizes stress for clinicians and surgeons, enhancing efficiency with reduced time and transcription errors. Ultimately, it ensures optimal efficiency, safety, and improved patient outcomes, allowing for the accommodation of more patients in a day."    

GSP Crop Science Pvt. Ltd.

India, a nation with a burgeoning population of nearly 1.4 billion, faces the monumental task of feeding millions every day. The critical importance of food security cannot be overstated. At the core of this battle lies the indispensable need for crop protection against relentless pests capable of wreaking havoc on agricultural produce. Enter GSP Crop Science Pvt. Ltd., a leader in the agrochemical industry, standing as a stalwart defender against this agricultural peril. Headquartered in Ahmedabad, the organisation emerges as a leader in developing and selling agrochemicals nationwide, aligning with Atmanirbharta and Make in India policies. Unlike the past reliance on costly imports, the company not only fulfils domestic needs but also exports to the global market.GSP envisions transforming agriculture by offering innovative products at regional prices and prioritising indigenous manufacturing. This vision targets small land-holding farmers, addressing their challenges in affording expensive multinational corporation (MNC) products. Given India’s 40 to 60 crore individuals directly tied to farming, especially small-scale farmers, affordability is paramount. Their core mission revolves around providing high-quality products at competitive prices, anticipating farmer needs ahead of the government’s ARKB mission.Company's authorized capital stands at Rs 5000.0 lakhs and has 58.960056% paid-up capital which is Rs 2948.0 lakhs. GSP Crop Science Private Limited last annual general meet (AGM) happened on 28 Sep, 2017. The company last updated its financials on 31 Mar, 2017 as per Ministry of Corporate Affairs (MCA).GSP Crop Science Private Limited is majorly in Manufacturing (Metals & Chemicals, and products thereof) business from last 38 years and currently, company operations are active. Current board members & directors are KENAL VRAJMOHAN SHAH, VRAJMOHAN RAMANLAL SHAH, BHAVESH VRAJMOHAN SHAH and AJIT SINGH GUJRAL. Company is registered in Ahmedabad (Gujarat) Registrar Office.GSP Crop Science Private Limited registered address is 404, LALITA COMPLEX, 352/3, RASALA ROAD, NR JAIN TEMPLE, NAVRANGPURA AHMEDABAD GJ 380009 IN.GSP Crop Science Private Limited is a Non-govt company, incorporated on 12 Feb, 1985. It's a private unlisted company and is classified as'company limited by shares'.    

Kanika Pasricha is appointed top economic adviser by the Union Bank of India.

According to the bank's regulatory filing, the appointment has a three-year contractual term that is extendable by one year at a time for a maximum of five years assuming acceptable performance.Pasricha was previously employed by Standard Chartered Bank as a director of global research and economist. She was employed by ICICI Bank Ltd. as a chief manager and economist.Ms. Kanika Pasricha was named Chief Economic Advisor of Union Bank of India, a public sector bank with its headquarters located in Mumbai, on January 23. She was hired on a contractual basis for a three-year term that can be extended by one year at a time, with a five-year maximum term possible for good performance.Ms. Kanika Pasricha, a 38-year-old economist with over 15 years of expertise, works in the field. She graduated with a graduate degree in arts in economics from Delhi University and an MA in economics from Delhi School of Economics.She was previously employed by Standard Chartered Bank as an Economist (Director) - Global Research. Her work involves a great deal of research and data analysis to establish a connection between market measures and macro characteristics.She was also employed by ICICI Bank Ltd. as a Chief Manager and Economist.Leading Indian public sector bank Union Bank of India Limited (UBI) announced that Kanika Pasricha has been appointed Chief Economic Advisor (CEA), effective January 23, 2024. "We wish to inform you that Ms. Kanika Pasricha has been appointed as the Chief Economic Advisor of the Bank," the bank said in its exchange filing, "in terms of Regulation 30 read with Clause No. 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015."Kanika Pasricha, a 38-year-old economist, has over 15 years of expertise in the field. She holds an MA in Economics from Delhi University's Delhi School of Economics as well as a Graduate Arts degree in Economics from Delhi University.She was previously employed by Standard Chartered Bank as an Economist (Director) in Global Research. Her work involves a great deal of research and data analysis to establish a connection between market measures and macro characteristics.She was also employed by ICICI Bank Ltd. as a Chief Manager and Economist.  

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Himanshu Bajaj is appointed as MD and Country Co-leader by Alvarez & Marsal India.

Himanshu Bajaj has been named MD and Co-Country Leader by A&M India. At BYJU's Tuition Center, Himanshu, an engineer and financial analyst, most recently held the positions of CEO and Business Head firm's corporate growth plan. Himanshu spent more than 16 years as Kearney's Head of Asia, Consumer, and Retail Practice in his prior positions. Early in his career, he also held positions as a Revenue Management Analyst with Federal Express and a Consultant with TSMG. "Himanshu's appointment demonstrates the firm's continued commitment to investing in people, achieving scale, and positioning for growth in support of clients in India and around the world," stated Bryan Marsal, CEO and co-founder of A&M, in welcoming Himanshu to the leadership team. The next stage of our worldwide strategic expansion plan is represented by A&M India's growing talent pool and products, which complement our integrated platform and are consistent with our operational legacy."We are growing our firm in India to meet a high level of demand and expanding our transformation and digital capabilities across sectors," Utamsingh said, welcoming his co-leader Himanshu as well. Over the next 24 months, we anticipate tripling the number of Managing Directors based in India. It gives me great pleasure to welcome Himanshu and I look forward to working with him to head our India business."Adding Himanshu to our team aligns with our strategy for leveraging innovation, growing consumer demand, rising per capita income levels, and strong investment incentives we see across India," stated Luis de Lucio, MD, Head of Growth Markets. Our capacity to assist corporations, private equity (PE) firms, and organizations in finding answers to challenging issues including supply chain management, manufacturing alternatives, and growth acceleration is strengthened by Himanshu's experience. We have big ideas. Our team in India is growing and prepared. "India will see tremendous growth over the next several decades and become the leading market for corporate and investment activity," Himanshu continued. Established and startup companies in a variety of industries will need assistance in resolving challenging operational and strategic issues as they strive to create meaningful value. One important point of differentiation in the market for A&M is the combination of its operational history and range of services, which includes corporate finance and restructuring, financial due diligence, and disputes and investigations.  

BHU Recruitment 2024 application deadline for Group A and Group B posts extended till Feb 5

The online application period for various Group A and Group B positions at Banaras Hindu University (BHU) has been extended. Applicants may now submit their applications at bhu.ac.in by February 5th. Until February 10, candidates may download their applications and mail in a hard copy of the application. Additionally, the deadline for submitting an online application in response to the previously mentioned advertisement has been extended to February 5, 2024. According to the official announcement, the application form must be downloaded and sent, along with any attachments, to the Office of the Registrar, Recruitment & Assessment Cell, Holkar House, BHU, Varanasi -221005 (U.P.), by no later than February 10, 2024. Direct application link   Details of the 2024 BHU Recruitment Vacancies: Three positions for executive engineers   System Engineer: one position   One position for a junior maintenance engineer/networking engineer   Deputy Librarian: 2 posts   Assistant Librarian: 4 posts   Chief Nursing Officer: 1 post   Nursing Superintendent: 2 posts   Medical Officer: 23 posts   Nursing Officer: 221 posts   BHU Recruitment 2024 applictaion fee: Candidates belonging to the UR, EWS, and OBC categories must pay an online non-refundable application fee of Rs. 1000 for Group "A" positions and Rs. 500 for Group "B" non-teaching posts. Candidates in the SC, ST, PwD, and female categories are not required to pay an application fee.

Premier Narendra Modi inaugurates the Ayodhya Ram Mandir

An historic day in Indian history was marked by Prime Minister Narendra Modi's opening of the Ram Mandir in Ayodhya on January 22, 2024.A significant event in Indian history was the opening of the Ram Mandir in Ayodhya by Prime Minister Narendra Modi on January 22, 2024. The Ram Lalla idol's "Pran Pratishtha" (consecration) ceremony was a key component of the inauguration and represents the infusing of life into the idol. More than 7,000 dignitaries attended the occasion, which was not just a religious ritual but also a significant cultural event for India.The involvement of the prime minister The main focus of the event was Prime Minister Modi's participation. He took part in the Ram Lalla idol's "Pran Pratishtha" from 12:29:03 to 12:30:35, an 84-second window during the "Abhijit muhurta" that is both brief and extremely fortunate. His stay in Ayodhya lasted almost four hours and was packed with inauguration-related events and customs.The Temple and Idol Complex of Ram Lalla Renowned Karnataka sculptor Arun Yogiraj created the 51-inch-tall, black-colored Ram Lalla idol, which represents Lord Ram as a five-year-old boy. As part of the preparation ceremonies, it was placed into the sanctum sanctorum of the temple on January 18. At 380 feet long, 250 feet wide, and 161 feet high, the temple is an architectural wonder that embodies the traditional Nagara style of building.Entire Security and Festivities Ayodhya was turned into a safe and joyous place. A vast security network of 13,000 security guards and drones driven by AI was put into place. The city echoed with Ramayana lyrics and slogans, decked with lights and flowers. With contributions and offerings from individuals in several states, the festivities went beyond Ayodhya.  

Operation Sarvashakti is launched by the Indian Army to eradicate terrorists.

The Indian Army launches Operation Sarvashakti in response to the increase in terrorism in Jammu and Kashmir, with the goal of coordinating counterterrorism efforts on both sides of the Pir Panjal ranges.The Indian Army is initiating Operation Sarvashakti, a strategic initiative targeted at reducing the influence of terrorist groups that are Pakistani proxies, in response to the increasing terrorist operations that are occurring in Jammu and Kashmir. This operation, which focuses on the Pir Panjal mountain ranges in the Union Territory, aims to destroy terrorists that are active in the delicate Rajouri Poonch area.The Situation: Increasing Acts of Terror in the Pir Panjal Range Terrorist organizations backed by Pakistan have made recent attempts to resurrect violence in the South of the Pir Panjal Mountains, especially in the Rajouri Poonch area. Attacks on Indian forces have been more frequent; the most recent event claimed the lives of four soldiers in the Dera ki Gali area on December 21. The increasing number of victims emphasizes how urgent it is to take decisive action to stop these destabilizing actions.A Comprehensive Counter-Terrorism Strategy: Operation Sarvashakti Combining counterterrorism efforts on both sides of the Pir Panjal ranges is the goal of Operation Sarvashakti. To counter terrorist threats, the White Knight Corps, headquartered in Nagrota, and the Chinar Corps, stationed in Srinagar, will conduct simultaneous operations. Important elements of this operation include coordinated efforts by the Special Operations Group, CRPF, Jammu and Kashmir Police, and intelligence agencies.Historical Reflection: Operation Sarpvinash Operation Sarvashakti, which was inspired by the 2003 operation Sarpvinash, aims to eradicate terrorists from the same regions in the South of the Pir Panjal range. Operation Sarpvinash's past success serves as a model for the current operation and highlights the significance of a complete counterterrorism strategy.From the Viewpoint of the Army Chief: Handling the Resurgence of Terrorism Since 2003, there has been a resurgence of terrorist activity in the region, as confirmed by Army Chief General Manoj Pande. In response, in-depth talks were held to strategize and address the changing danger with Corps Commanders. General Pande's dedication to resolving the matter emphasizes how serious the situation is and how urgently action must be taken.High-Level Arrangement: A Multi-Agency Method Operation Sarvashakti is the outcome of high-level cooperation between the Army Headquarters, the Northern Army Command in Udhampur, and important stakeholders; it is not an isolated endeavor. The groundwork for this cooperative effort was established during a security conference with Home Minister Amit Shah, intelligence agencies, and National Security Advisor Ajit Doval in attendance.Induction of Troops and Enhancement of Intelligence Acknowledging the necessity for heightened security protocols, the Indian Army has commenced the induction of additional troops into the Rajouri-Poonch area. In parallel, measures are being taken to fortify the intelligence infrastructure in the area, improving the capacity to anticipate and thwart acts of terrorism. Local Assistance and Moral Behavior The Indian Army has shown restraint in the face of provocations by abstaining from retaliating by firing into civilian areas. Following the confrontation on December 21, prompt action was taken against own officers and soldiers, demonstrating a commitment to ethical conduct and encouraging local support in the battle against terrorism. A Coordinated Front Against Terrorism: Operation Sarvashakti One of the most important steps in combating the revival of terrorism in Jammu and Kashmir is Operation Sarvashakti. Along with  

Vice Admiral Vineet McCarty Takes Up Position at Indian Naval Academy, Ezhimala, as Commandant

The Indian Naval Academy's Commandant is now Vice Admiral Vineet McCarty. He provides the Indian Navy with strategic acumen and a stellar service record in addition to his wealth of expertise.over January 15, 2024, Vice Admiral Vineet McCarty took over the esteemed role of Commandant at the Indian Naval Academy. Vice Admiral McCarty is an accomplished officer with a stellar career who offers a plethora of knowledge and experience to this important position.An Outstanding Naval Career After being commissioned into the Indian Navy on July 1, 1989, Vice Admiral McCarty's adventure began. He has made a name for himself throughout the years by taking on a variety of positions and duties, demonstrating outstanding leadership and commitment to the country.Academic Accomplishments The Vice Admiral holds degrees from the National Defence College in New Delhi (2017) and the Defence Service Staff College in Wellington (2005). His strategic acumen and readiness for senior positions in the Indian Navy have been greatly influenced by these organizations.expertise in "missiles and gunnery" Early in his career, Vice Admiral McCarty made clear that "gunnery and missiles" was his area of expertise. He served as part of the commissioning crew of INS Delhi and completed specialist tenures onboard a frontline Guided Missile Destroyer, showcasing his prowess in naval weaponry and technology.In charge of Different Naval Crafts He has been a commanding officer on a wide variety of naval ships. Vice Admiral McCarty has demonstrated adaptability and proficiency while commanding a variety of ship classes, from the Anti-Submarine Patrol Vessel INS Ajay to the Guided Missile Corvette INS Khanjar and the Guided Missile Frigate INS Shivalik.Employee Deployments and Global Participations Throughout his career, Vice Admiral McCarty has held important staff positions, such as that of Training Commander at the Naval Academy and Directing Staff at the Naval and Maritime Academy in Sri Lanka. Interestingly, he was accredited to both the Republic of the Philippines and the Republic of Singapore as India's defense adviser. Roles of Command and Strategic Planning Vice Admiral McCarty was promoted to the Flag Rank on February 10, 2020, and he served as Commodore (Naval Plans) from 2018 to 2020. In this job, he was instrumental in developing the acquisition, financial, and perspective plans for the Indian Navy. Later on, he was the Assistant Chief of the Naval Staff (Staff Requirements), where he was in charge of capability development and shaped the Indian Navy's combat policy.Officer in Charge of the Western Fleet Vice Admiral McCarty was the Flag Officer Commanding the Western Fleet prior to assuming leadership as the Commandant of the Indian Naval Academy. During his time in this role, which he held from November 15, 2022 to November 9, 2023, he demonstrated his ability to command the western region's operations readiness and maritime security.  

Daljit Singh Chaudhary, a senior IPS officer, was named Sashastra Seema Bals director general.

Daljit Singh Chaudhary, a senior IPS officer, has been named Sashastra Seema Bal (SB) Director General. This nomination represents a substantial change in the administrative restructuring insideDaljit Singh Chaudhary, a senior IPS officer, has been named Sashastra Seema Bal (SB) Director General. With this appointment, India's internal security system has undergone a major administrative reorganization.Importance of the Scheduling India's central armed police force, the Sashastra Seema Bal, is principally in charge of policing the nation's borders with Nepal and Bhutan. With increasing security problems in the region, the appointment of an experienced officer like Daljit Singh Chaudhary is likely to infuse the critical border areas with newfound vigor and strategic knowledge.Concerning Daljit Singh Chaudhary Indian Police Service (IPS) officer Daljit Singh Chaudhary had a distinguished career with a variety of important assignments in the past. His qualifications are considered essential for the position of Director General of SSB, where he will head the team responsible for preserving the integrity and security of India's borders. Sashastra Seema Bal (SB) Overview One of the five Central Armed Police Forces (CAPFs) that reports to the Indian government's Ministry of Home Affairs is Sashastra Seema Bal (SSB). The SSB was first formed in 1963 to thwart Chinese military operations along the Indo-Nepal border in the wake of the Sino-Indian War.Principal Function and Accountabilities Ensuring the security of the borders between India and Nepal and Bhutan is the main responsibility of the SSB. This include stopping smuggling, cross-border crimes, and other illicit activity. In addition to maintaining security and tranquility in the border regions, the army fights counterinsurgencies.  

Sony cancels plans to merge with Zee Entertainment in India

Zee Entertainment Enterprises Ltd. has been formally informed by Sony Group Corp. of its decision to revoke the merger with its India division.The massive Japanese entertainment company is anticipated to reveal its decision to fire Zee to the exchange later on Monday. The letter was sent early on Monday. Sony terminated its merger with Zee, citing unmet requirements as the cause."The Merger did not close by the End Date as, among other things, the closing conditions to the Merger were not satisfied by then," stated Sony in a statement. In an attempt to prolong the End Date, Sony Pictures Networks India Private Ltd (SPNI) has been holding conversations; nevertheless, the Discussion Period has ended without an agreement being reached. Because of this, SPNI sent ZEEL a notification on January 22, 2024, ending the final agreements.The Securities and Exchange Board of India (SEBI) investigation into Zee chief executive officer Punit Goenka compounded the leadership issues around the merger, which was announced more than two years ago.The reason for the termination is a standoff between the two firms over the direction of the combined company, specifically with reference to Punit Goenka, the CEO of Zee, who is being probed by SEBI, the capital markets regulator. The agreement, which intended to create a $10 billion media behemoth capable of taking on global behemoths like Netflix Inc. and Amazon.com Inc., has all but collapsed due to this standoff.Sony sent out a letter of termination after a 30-day grace period expired over the weekend. The two sides were unable to agree on a deadline that was established for late December during this time.The Mumbai-based media outlet was charged by SEBI in June with forging loan recovery documents to hide secret financing arrangements involving its founder, Subhash Chandra. Chandra and his son Goenka "abused their position" and misappropriated funds, according to SEBI's interim ruling.Sony continued to view the ongoing investigation as a potential threat to corporate governance, even though Goenka was able to challenge the SEBI judgment and receive relief from an appellate court that prohibited him from holding an executive or director position in a listed firm.As competitors assemble, Zee Entertainment Enterprises Ltd. now faces more competition and investor disquiet as a result of Sony Group Corp.'s public notification of its intention to sever ties with the media network.The Sony Group announced in a statement on Monday that the merger did not close by the deadline because, among other things, the closing conditions were not met by then. While [Sony Pictures Networks India] has been in good faith conversations to extend the deadline, the period for discussions to do so has passed without a decision being made. Because of this, SPNI sent ZEEL a notification on January 22, 2024, ending the final agreements.An even more vehement statement was released by Sony in India. "Even though we had sincere conversations to extend the deadline under the merger collaboration agreement, we were unable to reach a consensus on an extension by the deadline of January 21. We are deeply saddened that the merger's closing requirements were not met by the deadline, following more than two years of talks," the statement read. "We are steadfastly dedicated to expanding our footprint in this dynamic and rapidly expanding market and providing Indian audiences with top-notch entertainment.""Does not anticipate any material impact on its consolidated financial results as a result of the termination of the definitive agreements for the merger," the Sony Group added in its statement. However, it appears likely that there may be a cost involved.As part of the original agreement, Sony might have been required to pay Zee a $100 million termination fee; however, since the penalty cause has expired, this might no longer be the case. However, there's still a chance that Zee or its stockholders will suit them. Sony, on the other hand, is requesting a termination fee of $90 million, "invoking arbitration and seeking interim reliefs against ZEEL, on account of alleged breaches by ZEEL of the terms of [merger cooperation agreement]." All claims made by [Sony vehicles] Culver Max and BEPL regarding purported MCA violations, particularly those pertaining to termination fees, are fully refuted by ZEEL."The Board of Directors at ZEEK is assessing every alternative. The statement said, "ZEEL will take all required actions to protect the long-term interests of all its stakeholders based on the board's advice, including pursuing appropriate legal action and challenging Culver Max and BEPL's claims in the arbitration procedures. "ZEEL has demonstrated the highest level of commitment to the merger by taking a number of permanent and irrevocable actions, which have cost ZEEL money both once and repeatedly. The business will nevertheless use the inherent value of its assets to assess both organic and inorganic development prospects.With over 70 linear TV channels, two video streaming services (ZEE5 and Sony LIV), and two film studios (Zee Studios and Sony Pictures Films India) all housed under one roof, the $10 billion merger of ZEE and Culver Max Entertainment, formerly known as Sony Pictures Networks India, would have been possible. That would have strengthened its position in the Indian streaming business, where consolidation is currently taking place, and made it the biggest player in the nation's still sizable linear TV market. Prior to a series of regulatory and other approval processes, the deal was originally proposed in 2021 and officially announced in December of the same year. The deadline for the two businesses to complete the transaction expires on December 21, 2023, but was extended by aThe Securities and Exchange Board of India (SEBI), which oversees the country's stock market, separately released a damning investigative report during which it accused Zee founder Subhash Chandra and CEO and MD Punit Goenka of "siphoning off" money and running the company for their personal benefit. Goenka was prohibited from holding an executive position at any listed firm as of August. Goenka was to have served as the chief operating executive at the combined Sony-Zee company. Goenka was permitted to assume the leadership role after the decision to ban him was overturned on appeal in October, but Sony was reportedly very uncomfortable with him in that capacity since it might have breached Japanese corporate governance regulations. Additionally, in India, MD andIts share price, which fell by 25% from INR371 on December 10, 2021, to INR248 on January 19, 2024, is a reflection of those challenges. Its market capitalization as of early January was INR223 billion, or $3.68 billion, which contrasted sharply with the deal conditions' suggested valuation of about $5 billion. Zee shares fell 6% more in early Monday trading on the Bombay Stock Exchange and the NSE as a result of the transaction cancellation news, trading for about INR231 a share. It's unclear if the current market circumstances still support the argument that the larger group's economies of scale, cost reductions, and enhanced advertising market power two years ago justified the acquisition price. The TV industry in India has recovered since  

In order to benefit from a promotion, the Ministry of Cultures Additional Secretary has returned to her parent cadre.

Ms. Sanjukta Mudgal goes back to her parent company In order to profit from a promotion within the cadre, Ms. Sanjukta Mudgal, Additional Secretary, Ministry of Culture, has been repatriated to her parent cadre. She is an MP cadre IFS officer from the 1990 batch.We present to you insights, discoveries, and insights from the fields of politics, public enterprises, business, and bureaucracy.Who speaks better English? The entire nation is aware that Congressman Shashi Tharoor speaks English fluently, but it appears that Jyotiraditya Scindia, the minister of civil aviation, is just as fluent. The two leaders have only lately gotten into a verbal sparring match over flight delays. Following some of Tharoor's tweets on this topic, Scindia remarked, "Tharoor is lost in his esoteric world of thesaurus."10 ESSENTIAL POSITIONS: CHIEF JUSTICE OF INDIA (CJI) On November 10, 2024, Dr. DY Chandrachud, the 50th Chief Justice of India, is expected to retire. On November 8, 2022, he took over as CJI. Justice Sanjeev Khanna, who superannuates in May 2025, will succeed him.Is Paban Kumar Borthakur going to be Assamese RERA Chairman? Following his retirement at the end of March, Assam Chief Secretary Paban Kumar Borthakur could be named Chairman RERA following the term of T Y Das. There will be new CAT members appointed In February, the Central Administrative Tribunal (CAT) will appoint up to 15 Administrative Members and 10 Judicial Members.Ms. Sanjukta Mudgal goes back to her parent company In order to profit from a promotion within the cadre, Ms. Sanjukta Mudgal, Additional Secretary, Ministry of Culture, has been repatriated to her parent cadre. She is an MP cadre IFS officer from the 1990 batch. Center announces a "half-day" for January 22. 'Half-day' has been announced by the Indian Government for January 22, 2024. The Central Institutions, Central Government, and Central Industrial establishments will all have their offices closed until 2:30 p.m.  

Season 3 of the RuPay Prime Volleyball League: Hrithik Roshan Joins as Brand Ambassador

By designating the well-known Bollywood actor Hrithik Roshan as the brand ambassador, the RuPay Prime Volleyball League (PVL) has made a major advancement in its marketing and promotion efforts.The third season of the RuPay Prime Volleyball League (PVL) has seen a major advancement in marketing and promotion as the popular Bollywood actor Hrithik Roshan has been named as the league's brand ambassador. With the potential to increase the league's popularity and visibility, this move represents a noteworthy combination of sports and entertainment.Selection of Hrithik Roshan Hrithik Roshan, who is well-known for his dedication to athletics and fitness, has been selected to play for the RuPay Prime Volleyball League in the next season. Roshan is a perfect fit for the position because of his love of athletics and his reputation for fitness. It is anticipated that his participation will increase awareness of the league by utilizing his significant appeal and influence.League Specifics Starting on February 15, 2024, the RuPay Prime Volleyball League Season 3 will be broadcast live on Sony Sports Network. The nine franchises in the league—the Hyderabad Black Hawks, Ahmedabad Defenders, Kolkata Thunderbolts, Calicut Heroes, Kochi Blue Spikers, Chennai Blitz, Bengaluru Torpedoes, Mumbai Meteors, and the recently added Delhi Toofans—are co-owned and marketed by Baseline Ventures.Development and Effect The league has expanded significantly; the 206 million cumulative viewers of the second season represent a big rise from the 133 million viewers of the first season. India's interest in volleyball is expanding, as seen by the league's strong online and social media presence.