T.V. Somanathan Named Head of the Cabinet

Rajiv Gauba has been replaced as India's new Cabinet Secretary by T.V. Somanathan. On August30,2024, Somanathan, an IAS officer from Tamil Nadu who was selected in the 1987 batch, will start a two-year term. Until he formally takes up the position, he will also function as an Officer on Special Duty.Rajiv Gauba, whose term expires this month, has been replaced as India's Cabinet Secretary by Senior IAS Officer T.V. Somanathan. On August30,2024, Somanathan will start his two-year term. Until he formally takes up the position of Cabinet Secretary, he will also work as an Officer on Special Duty (OSD) in the Cabinet Secretariat.History and Time of Appointment Previous Roles: Somanathan, an IAS official from the Tamil Nadu cadre who was born in 1987, has performed a number of important roles. He has been the Finance Secretary since April 2021 and the Expenditure Secretary since December 2019. In addition, he held a number of positions in his home country and overseas, including the Prime Minister's Office.Qualifications: He is a trained Chartered Accountant (CA) and Company Secretary (CS), with a PhD in Economics from Calcutta University. He is also fluent in five languages, including English, French, Hausa, Hindi, and Tamil. Notable Contributions: In his capacity as Finance Secretary, Somanathan was instrumental in the creation of the FY22 budget, which increased fiscal openness. He has a distinguished academic background with over 80 papers and publications on economics, and he has also been active in examining the government employee pension system.Rajiv Gauba's Position Duration: Rajiv Gauba held the position of Cabinet Secretary for a record-breaking five years. Three extensions were given to him throughout his tenure, the most recent one being approved in August 2023. Accomplishments: Gauba's contribution to the 2019 Jammu and Kashmir Reorganisation Act is acknowledged, as it resulted in the division of the state into two Union Territories. Possible Replacing the Finance Secretary Tuhin Kanta Pandey: Tuhin Kanta Pandey, who serves as the Secretary of the Department of Investment and Public Asset Management (Dipam), is a strong contender for the Finance Secretary post. Significant disinvestment initiatives, such as the sale of Air India and the public introduction of LIC, have been managed by Pandey.  

Manoj Mittal Assumes Leadership Role as Sidbi's CMD Following Center Appointment

After being appointed by the Indian government, Manoj Mittal assumed the role of Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (Sidbi).After being appointed by the Indian government, Manoj Mittal assumed the role of Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (Sidbi). Before this, he served as Industrial Finance Corporation of India's (IFCI) managing director (MD).With more than 33 years of experience According to an official release from the bank, Mittal has over 33 years of experience in the financial services industry, including his former positions as deputy managing director at Sidbi and MD and CEO of IFCI. Concerning Sidbi On April 2, 1990, Sidbi was founded by an act of the Indian Parliament. It is Sidbi's responsibility to carry out the threefold agenda of promoting, funding, and developing the MSME (micro, mini, and medium-sized enterprises) sector and coordinating the operations of other institutions involved in related activities.  

KV Subramanian Named MD & CEO of Federal Bank

The Federal Bank announced in an exchange filing that Krishnan Venkat Subramanian has been appointed as Managing Director and Chief Executive Officer, with approval from the Reserve Bank of India (RBI).The Federal Bank announced in an exchange filing on July 22 that Krishnan Venkat Subramanian has been appointed as Managing Director and Chief Executive Officer, with approval from the Reserve Bank of India (RBI). September 23, 2024 is when Subramanian's three-year term will begin. This date coincides with the end of the present MD & CEO, Shyam Srinivasan's term, which ends on September 22, 2024.Concerning KV Subramanian The Indian Institute of Technology (IIT) in Varanasi awarded the former Kotak executive a degree in Electrical Engineering, while Jamnalal Bajaj Institute of Management Studies in Mumbai awarded him a postgraduate degree in Financial Management. In addition, he works as a Cost and Works Accountant. His Assistance Prior to April 30, 2024, Subramanian held the position of Joint Managing Director of Kotak Mahindra Bank Limited. During his tenure, he oversaw the direction of several crucial departments, including Corporate Banking, Commercial Banking, Private Banking, and Asset Reconstruction. His Professional Life He started his career with Kotak Mahindra Finance Ltd. in the NBFC industry, and he has a wealth of knowledge in investment banking. During his prior employment, Subramanian significantly contributed to the modernization of technology infrastructure and the enhancement of transaction banking skills. In addition, he managed the Institutional Equities and Investment Banking business units, keeping them at the top of the sector.  

Live Nirmala Sitharaman's Auto Sector Budget 2024, which prioritizes employment and skill development

It is intended to cover more employment in all sectors and benefit thirty lakh youth. For every extra employee, the government would refund firms for up to Rs 3,000 in monthly EPFO contributions for a maximum of two years. The goal of this program is to provide incentives for 50 lakh more people to find work. In her seventh consecutive Union Budget, Finance Minister Nirmala Sitharaman on Tuesday unveiled a number of plans to increase employment and skill levels. Sitharaman unveiled a Rs 2 lakh crore initiative for five programs designed to train 4.1 crore young people in the nation and create jobs for them.A package for employment and skill development, as well as three "Employment Linked Incentive" programs were also announced by the FM: Scheme A is for newcomers, Scheme B is for manufacturing job creation, and Scheme C is for employers' assistance. For first-time employers registered with the EPFO, Scheme A offers a direct benefit transfer of one month's income in three installments up to Rs. 15,,000. Incentives are to be given to businesses and employees based on their EPFO contributions during the first four years of employment under Scheme B, which aims to create jobs in the manufacturing sector. Scheme C relates to the repayment of employers' EPFO contributions for each extra employee, up to a maximum of Rs 3,000 per month for two years.  

PwC India Chairperson Sanjeev Krishan Re-Elected for Second Term

Commencing on April 1, 2025, Sanjeev Krishan has been re-elected to serve as the chairman of PwC India for a second term. His reappointment attests to his ongoing significance and effective leadership.Re-elected to a second term as PwC India's chairman, Sanjeev Krishan will take office on April 1, 2025. His noteworthy contributions to the expansion and innovation of the company are highlighted by this reappointment. Krishan, who took office on January 1, 2021, will continue to serve as PwC's internal and external representative. He will also continue to serve on the PwC Global Strategy Council.Highlights of Your Career PwC Duration As an articled trainee, Krishan began working at PwC in 1991. In 2006, he was promoted to partner and took charge of the company's Deals, Transactions, and Private Equity division.Global Perspective Through an international exchange program, he has also worked with PwC Sweden, concentrating on cross-border transactions with corporate clients and private equity investors. Thoughts on the Re-Election Dinesh Arora's Declaration PwC India's Chair of the Partnership Oversight Committee, Dinesh Arora, emphasized Krishan's contribution to the company's rise to prominence and its technological innovation, both of which boost productivity. Krishan's Perspective Krishan pledged to support clients in seizing growth possibilities in the face of geopolitical upheaval and macroeconomic difficulties, calling his reelection "humbling." He underlined how the Indian economy has the power to influence the direction of the world economy. Extra Positions Krishan participates actively in a number of esteemed committees: National Committee on Stressed Assets, or FICCI CII: Council on Corporate Governance and Council on Economic Affairs Primary Market Advisory Committee, or SEBI  

PwC India Chairperson Sanjeev Krishan Re-Elected for Second Term

Commencing on April 1, 2025, Sanjeev Krishan has been re-elected to serve as the chairman of PwC India for a second term. His reappointment attests to his ongoing significance and effective leadership.Re-elected to a second term as PwC India's chairman, Sanjeev Krishan will take office on April 1, 2025. His noteworthy contributions to the expansion and innovation of the company are highlighted by this reappointment. Krishan, who took office on January 1, 2021, will continue to serve as PwC's internal and external representative. He will also continue to serve on the PwC Global Strategy Council.Highlights of Your Career PwC Duration As an articled trainee, Krishan began working at PwC in 1991. In 2006, he was promoted to partner and took charge of the company's Deals, Transactions, and Private Equity division. Global Perspective Through an international exchange program, he has also worked with PwC Sweden, concentrating on cross-border transactions with corporate clients and private equity investors. Thoughts on the Re-Election Dinesh Arora's Declaration PwC India's Chair of the Partnership Oversight Committee, Dinesh Arora, emphasized Krishan's contribution to the company's rise to prominence and its technological innovation, both of which boost productivity.Krishan's Perspective Krishan pledged to support clients in seizing growth possibilities in the face of geopolitical upheaval and macroeconomic difficulties, calling his reelection "humbling." He underlined how the Indian economy has the power to influence the direction of the world economy. Extra Positions Krishan participates actively in a number of esteemed committees: National Committee on Stressed Assets, or FICCI CII: Council on Corporate Governance and Council on Economic Affairs Primary Market Advisory Committee, or SEBI  

The New Session's Business Advisory Committee

The Speaker of the Lok Sabha convenes the Business Advisory Committee for the upcoming session.The Speaker of the Lok Sabha convenes the Business Advisory Committee for the upcoming session. Members of the Committee include, among others, PP Chaudhary, Anurag Thakur, Dayanidhi Maran, Gaurav Gogoi, and Sudip Bandhyopadhyay.The disaster management law will be amended by six new bills. The Monsoon Session of Parliament, which starts next week, will see the presentation of six new bills, one of which would change the disaster management statute. The government has also proposed the Bhartiya Vayuyan Vidheyak, 2024, to replace the Aircraft Act of 1934 and give enabling measures for the convenience of conducting business in the civil aviation industry, in addition to the Finance Bill. On July 18, evening, the Lok Sabha secretariat announced the list of bills in its bulletin. July 22 is the start of the Monsoon Session, which lasts until August 12.Additional bills The Boilers Bill, which would replace the pre-independence statute, the Coffee (Promotion and Development) Bill, and the Rubber (Promotion and Development) Bill are among the other bills scheduled for introduction and passage during the session. In addition, the Business Advisory Committee (BAC), which sets the parliamentary agenda, was established by Speaker of the Lok Sabha Om Birla. Who will serve as the committee chair? Sudip Bandyopadhyay (TMC), P P Chaudhary (BJP), Lavu Sri Krishna Devarayalu (TDP), Nishikant Dubey (BJP), Gaurav Gogoi (Congress), Sanjay Jaiswal (BJP), Dileshwar Kamait (JD-U), Bhartruhari Mahtab (BJP), Dayanidhi Maran (DMK), Baijayant Panda (BJP), Arvind Sawant (Shiv Sena-UBT), Kodikunnil Suresh (Congress), Anurag Thakur (BJP), and Lalji Verma (SP) are the members of the committee, which is chaired by the Speaker.  

Manoj Saunik's appointment to the MahaRERA Chairmanship

Ajoy Mehta has been replaced as Chairman of MahaRERA by Manoj Saunik, a former Chief Secretary of Maharashtra.The Maharashtra Real Estate Regulatory Authority (MahaRERA) has named Manoj Saunik, a former chief secretary of Maharashtra, as its new chairman. Ajoy Mehta, whose term expires in September 2024, will be succeeded by him.Professional Experience In December 2023, Saunik, an IAS officer from the 1987 batch, retired as Chief Secretary and is presently the Chief Minister's principal advisor. Details of the Appointment A notice sent by the state housing agency stated that Saunik was chosen by a committee from a pool of applicants for the position. The Current Initiatives of MahaRERA In order to evaluate real estate developments, MahaRERA is incorporating Artificial Intelligence capabilities and has been aggressively pushing developers to provide project updates.An Overview of the Past Prior to Saunik's appointment, MahaRERA's chairs were Gautam Chaterjee and Ajoy Mehta. MahaRERA was founded in March 2017. Future Tenure: Saunik will remain in office until he becomes 65, as required by law.  

KP Sharma Oli is the new prime minister of Nepal.

On July 15, K.P. Sharma Oli took the oath of office as prime minister of Nepal for the fourth time. On July 14, President Ram Chandra Paudel named the head of the country's biggest communist party as prime minister. The leader of this new coalition government will take on the difficult task of bringing political stability to the Himalayan nation.Concerning K.P. Sharma Oli Khadga Born on February 22, 1952, Prasad Sharma Oli is a politician from Nepal who has served as the country's prime minister since July 15, 2024. Before, he was the first prime minister to be appointed after the first general election under the new constitution, serving as prime minister from 11 October 2015 to 3 August 2016 and from 15 February 2018 until 13 July 2021.biggest party in the legislature The new government led by Mr. Oli, 72, was formed on June 12 after Pushpa Kamal Dahal "Prachanda" lost the vote of confidence in the House of Representatives. With the backing of the Nepali Congress, the biggest party in Parliament, he was appointed prime minister. At Rashtrapati Bhawan's Shital Niwas, the main structure, Mr. Oli was sworn in by President Paudel. As per the constitutional mandate, Mr. Oli must now obtain a vote of confidence from Parliament within 30 days of his appointment. To win a seat in the 275-member House of Representatives (HoR), Mr. Oli must receive at least 138 votes.Friendship between India and Nepal India and Nepal, being close neighbors, have special bonds of friendship and cooperation that are characterized by ingrained cultural and familial ties. For a better future, every Indian looks forward to deepening the ties of mutual cooperation.  

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Muhammad Shakeel's appointment as JMI's officiating vice president is confirmed by President Murmu.

NEW DELHI: In her capacity as the university's visitor, President of India Droupadi Murmu has approved the appointment of Muhammad Shakeel as the acting vice-chancellor of Jamia Millia Islamia (JMI).The official notice said, "Hon'ble President of India has been pleased to approve the appointment of Prof. Mohammad Shakeel as the Officiating Vice-Chancellor as per Statute 2(6) of JMI Act, 1988 in her capacity as the Visitor of Jamia Millia Islamia (JMI), in exercise of powers conferred upon her by the Act or Statutes of University."On May 22, Jamia Millia Islamia named Mohammad Shakeel as its Acting Vice Chancellor in response to a Delhi High Court decision nullifying Eqbal Hussain's appointment and directing the university to name a replacement Vice Chancellor within seven days.Shakeel graduated from Aligarh Muslim University (AMU), Aligarh, with a BTech and MTech degree. He then went on to the University of Roorkee to earn a PhD. He began working at JMI in November 1986 as a lecturer, and in 1992 and 2000, respectively, he was elevated to the positions of reader and professor. The Delhi High Court declared that Eqbal Hussain's appointments to the positions of Pro-Vice Chancellor and Officiating Vice Chancellor at Jamia Millia Islamia were invalid because they did not comply with the relevant legal conditions.Professor Eqbal Hussain had challenged Professor Mohammad Shakeel's nomination to the role in a suit submitted to the Delhi High Court. The recent nomination of Professor Shakeel as the acting Vice Chancellor, according to Hussain's legal team, was illegal and not supported by the right processes.  

Olympian PV Sindhu Becomes Investor and Brand Ambassador for Wellness Brand Hoop

Olympic medallist and badminton sensation PV Sindhu has entered the business sector with a major move as an investor and brand ambassador for Hoop, a wellness company based in Gurugram.Olympic medallist and badminton sensation PV Sindhu has entered the business sector with a major move as an investor and brand ambassador for Hoop, a wellness company based in Gurugram. With this declaration, Sindhu demonstrates her developing interest in entrepreneurship and brand creation and represents a significant milestone in her career outside of the badminton court. Hoop: Advancing Health for Vigorous Lives Overview of the Company Hoop bills itself as the first wellness company in India that focuses exclusively on active lives. Established in 2022, the business has made a name for itself in the cutthroat wellness sector thanks to its distinctive offering: Put an emphasis on natural elements Product line addressing major issues related to wellness: Pain relief that works enhancement of sleep lowering of stress Enhancement of Workout  

The National TB Elimination Programme has appointed Dr. Soumya Swaminathan as its Principal Adviser.

At the Union Ministry of Health & Family Welfare, Prof. (Dr.) Soumya Swaminathan has been named Principal Adviser for the National Tuberculosis Elimination Programme. The Indian government's dedication to eliminating tuberculosis as a hazard to public health is demonstrated by this high-profile appointment.Type of Meeting Because of the pro gratis nature of the position, Dr. Swaminathan will perform this function without receiving payment. This action demonstrates her commitment to serving the public health sector and aiding India in its fight against tuberculosis.obligations and responsibilities As Principal Adviser, Dr. Swaminathan will be responsible for a number of important duties, including:Strategic Orientation Technical Advice: Offer professional advice on the overall plan for achieving the objectives of the program. This entails evaluating the methods being used, finding any gaps, and making recommendations for enhancements based on international best practices. Direction of Policy: To guarantee the best results, make recommendations for policy directions and required course changes. This could entail suggesting modifications to current regulations or putting forth fresh ideas to improve the efficiency of the TB eradication campaigns. Research approach: Provide guidance on the program's research approach. Assuring that research findings are converted into workable policies and actions, recommending approaches, and identifying important research goals are all necessary to achieve this.Professional Cooperation Global Talent Pool: Help put together expert groups with the best talent from throughout the globe. In order to do this, she will need to make use of her wide network within the international health community to connect specialists who can support India's efforts to eradicate tuberculosis. Impact Evaluation Program Evaluation: Assist state representatives, development partners, and the Union Health Ministry in evaluating the program's effects. This will entail creating metrics, examining information, and offering analyses and insights to gauge the success of different approaches.  

Britain's First Female Finance Chief, Rachel Reeves

The UK now has its first female finance minister, Rachel Reeves. The economist, who is 45 years old, has promised to expand the country's economy. After the Keir Starmer-led Labour Party secured a majority in Thursday's general election, Rachel was named chancellor on June 5. Currently, she is in charge of the UK budget.Concerning Rachel Reeves Reeves was born on February 13, 1979, into a family of educators in Lewisham, London Borough. She has always been passionate about learning and committed to comprehensive education. She graduated from New College, Oxford, with a Bachelor of Arts degree before attending the esteemed London School of Economics to earn a Master of Science in Economics. Following her education, Reeves spent almost ten years working as an economist. She began her career at the Bank of England before moving on to the private sector. Before taking on the role of Leader of the Opposition in 2021, Reeves worked as Starmer's Shadow Chancellor of the Exchequer. Regarding her accomplishment In addition, the 45-year-old used to be a champion chess player who took home multiple championship championships in his early years. Her father's influence on her during her early years contributed to her constant inclination toward democratic politics. Reeves was chosen as the Labour MP for Leeds West in northern England in 2010, the year the Conservatives and Liberal Democrats formed a coalition and took power. She was chosen by Starmer to serve as Labour's finance spokesman eleven years later. Ellie Reeves, her sister, is a Labour MP as well.Goals for Rachel Reeves As the first female Chancellor of the Exchequer in the history of the UK, she currently oversees an economy marked by slow growth, massive debt, and the biggest tax load in seven decades. Reeves has ruled out raising corporation and income taxes in order to restore economic stability. Her dedication to sound fiscal policies is a reflection of her ambition to be successful in the governance and finance industries.  

FATF President Elisa de Anda Madrazo to Take Office in 2024–2026

The Financial Action Task Force (FATF) will be led by Elisa de Anda Madrazo of Mexico for a two-year period beginning in July 2024 and ending in June 2026.The Financial Action Task Force (FATF) will be led by Elisa de Anda Madrazo of Mexico for a two-year period beginning in July 2024 and ending in June 2026. With Madrazo's new perspective focused at bolstering efforts to combat financial crimes and terrorism financing, this shift represents a significant moment for the global financial watchdog. A dedication to fundamental values The foundation of Madrazo's presidency is a strong belief in diversity, inclusivity, and openness. These guiding principles, which demonstrate a commitment to representing the various viewpoints and realities of the global community, will direct the FATF's efforts on governance, standards, and stakeholder engagement.Important Aims for 2024–2026 1. Encouraging Implementation Based on Risk Promoting the risk-based application of FATF Standards in accordance with the proportionality principle will be a main priority. By addressing the risks connected to restricted access to formal financial services, this strategy is essential for promoting financial inclusion.  

Government Principal Spokesman Dhirendra Ojha Appointed

Dhirendra K. Ojha, a senior Indian Information Service (IIS) officer, has been named the federal government's main spokesperson in a major step to bolster the government's communication strategy. In the field of government communications, this appointment is significant because it places new leadership in critical positions related to information distribution.A Fresh Perspective for the Executive Branch The central government's communications face and voice will now be Dhirendra K. Ojha, an experienced IIS officer from the 1990 class. Along with his appointment, he will also assume the role of Press Information Bureau (PIB) principal director general. Ojha is in the forefront of public information dissemination and government-media relations due to her dual function. Principal Duties: Serving as the main spokesman for the federal administration managing the Press Information Bureau's activities coordinating for efficient communication with different ministries and departmentsHanding Over the Torch: An Easy Transition Sheyphali B. Sharan, who served as the PIB's principal director general since April 1, 2023, gives way to Ojha. Sharan, an IIS officer from the 1990 batch as well, has been given a new responsibility as the Publications Division's director general. This change brings new ideas to many divisions and guarantees leadership continuity.  

Naveen Chandra Jha is named the new MD and CEO of SBI General Insurance.

Naveen Chandra Jha has been named MD & CEO of SBI General Insurance, taking over for Kishore Kumar Poludasu.Shri Naveen Chandra Jha has been named the new Managing Director and Chief Executive Officer of SBI General Insurance Company Ltd. He takes over for Shri Kishore Kumar Poludasu, who was put forward by State Bank of India, the parent corporation.Professional Experience Prior to taking on his current position, Shri Naveen Chandra Jha held a number of crucial positions in the State Bank of India, including Chief General Manager and Deputy Managing Director of Amaravati Circle, Andhra Pradesh, for almost three decades. The strategic outlook Jha wants to use his vast experience in the financial sector to steer SBI General Insurance in the direction of further success by emphasizing strategic growth initiatives, operational excellence, and a comprehensive business plan.Dedication to Superiority Jha is well-known for emphasizing customer-centricity and human resource engagement. He supports strong operational and service standards, which are in line with SBI General Insurance's objective to give its clients "Suraksha aur Bharosa Dono."Update on Finances SBI reduced its ownership from 69.95% to 69.11% in the fiscal year that ended on March 31, 2024, by investing Rs 489.67 crore in SBI General Insurance and giving workers ESOPs.  

UN Conference on Afghanistan A Significant Event in Global Diplomacy.

In the field of international relations, the globe saw an important event on June 30 and July 1, 2024. For the first time since assuming power in Afghanistan, the Taliban took part in the third United Nations Conference on Afghanistan, which was held in Doha, Qatar.In the field of international relations, the globe saw an important event on June 30 and July 1, 2024. For the first time since assuming power in Afghanistan, the Taliban took part in the third United Nations Conference on Afghanistan, which was held in Doha, Qatar.Preparations are underway for a meeting between the Taliban, envoys from Member States, and other relevant parties, which will be hosted by the UN. The Special Representative of the Secretary-General for Afghanistan briefed the Security Council today and advocated for increased flexibility, emphasizing that engagement does not equate to normalization.The third meeting in this format is set to take place in Doha in nine days, and the de facto authorities have indicated that they are getting ready to attend, according to Roza Otunbayeva, Special Representative of the Secretary-General and Head of the United Nations Assistance Mission in Afghanistan (UNAMA). "We hope that in Doha, important stakeholders will get together around a table, have face-to-face conversations, reaffirm the values that underpin the agreement to engage, and decide on next steps to reduce the uncertainty that the Afghan people face," the speaker stated.The expectations that Doha "has generated are significant and cannot realistically be met in a single meeting," she said.  "It cannot be repeated enough that this sort of engagement is not legitimization or normalization," she continued, even though there is no alternative for working with Afghanistan.  Though political stability has been preserved by the Taliban, there is little room for internal criticism and women are still subject to harsh restrictions. She emphasized the need for domestic political legitimacy and said that even with almost $7 billion in humanitarian aid, "massive poverty still plagues Afghanistan." Lisa Doughten, Director of the Office for the Coordination of Humanitarian Affairs' Financing and Partnerships Division, also addressed the Council, detailing the dire circumstances facing the nation—with over 50 per cent of  

PGCIL's New CGM and CMD Take Over

With responsibility for managing operations in Telangana, Akhilesh Pathak has been appointed as the new Chief General Manager of Power Grid Corporation of India Ltd.'s (PGCIL) Southern Region Transmission System-I (SRTS-I).On Monday, July 1, 2024, Akhilesh Pathak took over as the new Chief General Manager (CGM) of the Power Grid Corporation of India Ltd (PGCIL)'s Southern Region Transmission System-I (SRTS-I). Pathak will be in charge of the transmission network, which includes projects and sub-stations across Telangana, Andhra Pradesh, and a portion of Karnataka. Having worked in the transmission industry for more than 31 years, he is an expert in asset management, operations and maintenance, and commercial operations. Tyagi Ravindra Kumar appointed PGCIL's CMD After K. Sreekant's departure, Ravindra Kumar Tyagi has been named the new Chairman and Managing Director (CMD) of Power Grid Corporation of India Ltd (PGCIL). On December 18, 2023, the Appointments Committee of the Cabinet (ACC) approved Tyagi's nomination, which comes after he served as Director (Operations) from August 2022. Tyagi brings over 33 years of experience in various business areas of POWERGRID, including asset management, engineering, business development, telecom, load dispatch and communication, NTAMC, and DMS. Tyagi is a Fulbright Scholar from Carnegie Mellon University and an alumnus of Punjab Engineering College and IIT Delhi. His tenure as the Maharatna CPSE's leader will end on March 31, 2026, when he retires.Concerning POWERGRID Founded on October 23, 1989, Power Grid Corporation of India Limited (POWERGRID) is a Schedule 'A', 'Maharatna' Public Sector Enterprise. POWERGRID, a listed company with the Government of India owning a 51.34% share, is based in Gurugram and is an essential part of the country's electricity transmission infrastructure.