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N. Venkataraman : New Britannia CFO

India’s largest biscuit maker Britannia Industries Ltd’s new financial chief N. Venkataraman has his work cut out for him when he takes over from outgoing chief financial officer (CFO) Amlan Datta Majumdar next month.
●    For starters, the company’s managing director Varun Berry wants him to find new ways to cut costs. That won’t be easy as Britannia has already trimmed its fat in a big way since Berry took charge three years ago.
●    Berry wants to plough more money into new products or categories without disrupting margins amid high raw material costs. 
●    Some analysts advised him to focus on cutting freight costs, while others urged him to take a hard look at the inefficiencies in the supply chain.
●    On Wednesday, Berry reiterated on a post-earnings conference call that the cost efficiency programme is critical.

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M Rajeshwar Rao appointed new Executive Director by RBI

Reserve Bank of India on 7 November 2016 appointed M Rajeshwar Rao as the Executive Director. 
●    He succeeded G Mahalingam, who took voluntary retirement from the central bank.
●    As Executive Director, Rajeshwar Rao will look after Department of Statistics and Information Management, Financial Markets Operation Department and International Department.
●    Prior to taking over as the Executive Director, Rajeshwar Rao was the Chief General Manager, Financial Markets Operations Department.
●    He carried a Bachelor of Arts in Economics and a Master of Business Administration from University of Cochin. He is also a Certificated Associate of Indian Institute of Bankers.
●    He joined the Reserve Bank in 1984 and as career central banker has exposure in various aspects of central bank functioning.
●    He has previously held charge of the Risk Monitoring Department.
●    He has also worked as the Banking Ombudsman, New Delhi and in the Reserve Bank’s regional offices at Ahmedabad, Hyderabad, Chennai and New Delhi.


 

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Saad al-Hariri new Lebanon PM

Lebanese President Michel Aoun has asked Saad al-Hariri, a prominent Sunni politician, to form a new government as prime minister after he secured the support of a majority of MPs, according to a presidential statement.
●    Hariri was endorsed by 110 members of the 127-seat parliament on Thursday, with only Hezbollah, the Syrian Social National Party and the Lebanese Baath party - all supporters of Syria's government - declining to back him as prime minister.
●    Hezbollah is an armed Shia group which also has representation in parliament.
●    But his return was assured as part of the deal he struck to throw his support behind former general Michel Aoun, a Hezbollah ally.
●    Nabih Berri, the parliament speaker, indicated on Thursday that he was ready to cooperate in efforts to set up a new government led by Hariri, softening earlier objections that threatened to hold up its formation.

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Ministry of Railways appoints Padma Bhushan Dr. Bindeshwar Pathak founder of Sulabh International as a Brand Ambassador for “Swachh Rail Mission” of Indian Railway 

Ministry of Railways has appointed Padma Bhushan Dr. Bindeshwar Pathak founder of Sulabh International as a Brand Ambassador for “Swachh Rail Mission” of Indian Railway. In a programme held today i.e. on 02.11.2016 at Railway Bhawan Minister of Railways, Shri Suresh Prabhakar Prabhu felicitated Padma Bhushan Dr. Bindeshwar Pathak founder of Sulabh International (an India-based social service organization) as a Brand Ambassador for “Swachh Rail Mission” of Indian Railways. Minister of State for Railways Shri Rajen Gohain was especially present to grace the occasion. Chairman, Railway Board, Shri A K Mital, Member Rolling Stock Shri Hemant Kumar and other Board Members, and other senior officials were also present on the occasion. 
●    Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said that it is a matter of great pleasure for Indian Railways to felicitate Dr. Bindeshwar Pathak as he has strengthened the cleanliness campaign of Indian Railways by accepting this invitation of working with Railways on cleanliness initatives. He said that efforts of the Sulabh International are well known in the field of improving sanitation and upgradation of environment. He said that Railways can do wonders if people become aware of cleanliness and sanitation matters. He hoped that Railways in collaboration with Sulabh International will improve sanitation facilities in Indian Railways. Minister of Railways also presented a Roll of Honour to Shri Pathak. 
●    Speaking on the Occasion Minister of State for Railways Shri Rajen Gohain said that the work done by Dr. Pathak in the field of sanitation and cleanliness is the real essence of improving environment and sanitary facilities. He said that the 40 years long efforts of Dr. Pathak had awakened the people of the country on cleanliness issues as Sulabh International was established in 1970. He said that Railways will be benefitted a lot through the association of Sulabh International as it has lot of volunteers. He thanked Dr. Bindeshwar Pathak for accepting to become the Brand Ambassador of Indian Railways for its Mega Swacch Rail Mission. 
●    Speaking on the occasion, Padma Bhushan Dr. Bindeshwar Pathak, first of all, thanked Minister of Railways to felicitate him as Brand Ambassador for its Swacch Rail Mission. He further said that Sulabh International is keen to contribute towards sanitation and cleanliness facilities in Indian Railways. He said that under the motivation from the dynamic leadership of Prime Minister Shri Narender Modiji these days everyone is talking about cleanliness. He said that Sulabh Internation will work with full force to improve the sanitation facilities in railway premises. 


 

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Shri Sushil Chandra takes over as the Chairman, Central Board of Direct Taxes (CBDT)

 
Shri Sushil Chandra, IRS (1980 Batch), today took over as the Chairman, Central Board of Direct Taxes (CBDT).
●    He succeeds Ms Rani A Nair who superannuated yesterday. 
●    Shri Chandra has been Member (Investigation) in CBDT since December, 2015. 
●    During his long and illustrious career in the Income Tax Department, he has handled many prestigious assignments like the Principal Chief Commissioner & Director General of Income Tax at Ahmedabad, Commissioner of Income Tax (Central) & Director of Income Tax (Investigation) at Mumbai among others. 
●    His dynamism and forward looking vision is expected to further energise the Income Tax Department in its taxpayer friendly measures and new initiatives in the area of e-governance. 

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Ashok Chawla is new Yes Bank Non-Executive Part time Chairman

Former finance secretary and Competition Commission of India chairman Ashok Chawla has taken charge as Non-Executive Chairman of Yes Bank from today. 
●    Chawla took over after non-executive part-time Chairperson Radha Singh completed her tenure as the bank's director yesterday, Yes Bank informed the stock exchanges. 
●    A former IAS officer, Singh was non-independent director on the bank's board since April 2008 and was appointed chairperson in 2014. 
●    In March this year, Chawla was appointed additional non executive director on the bank's board. 
●    He was to be appointed as non executive chairman of the bank after the end of Singh's term, the bank had then informed the bourses. 


 

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Sunil Bharti Mittal appointed Chairman of GSMA

Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, was on 27 October 2016 appointed as Chairman of GSMA. 
●    As GSMA Chairman, Mittal will oversee the strategic direction of the organisation.
●    Mittal will succeed Jon Fredrik Baksaas, who will step down from the GSMA board at the end of 2016. 
●    On the other hand, the company re-elected Mari-Noëlle Jego-Laveissiere, Executive Vice President, Innovation, Orange Group as Deputy Chairman. 
●    It also elected the new members of the 26-member Board of the company.
●    Mittal took over as Chairman of the International Chamber of Commerce (ICC) early this year. 
●    He is also a Trustee of the Carnegie Endowment for International Peace and on the Board of Qatar Foundation Endowment.


 

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Cyrus Mistry ousted as Tata Sons chief; Ratan Tata returns in interim

The board of Tata Sons Ltd on 23 October 2016 replaced Cyrus Mistry as Chairman of the India’s largest conglomerate and named his predecessor Ratan Tata as the interim chairman for four months.
●    No reason was given for removing Mistry, but it is believed there were differences over management style and his approach of selling assets after writing them down.
●    Mistry, 48, who replaced Tata, 78, as chairman in December 2012, was only the sixth group Chairman in nearly 15 decades and the first from outside the Tata family. He will remain a director of the individual companies, though his tenure as Chairman is the shortest so far at the group.
●    Besides, the board also named a five-member search committee, which includes Tata, to choose a successor within four months. The other members of the committee include TVS Group head Venu Srinivasan, Amit Chandra of Bain Capital, former diplomat Ronen Sen and Lord Kumar Bhattacharya. All of them, except Bhattacharya, are on the board of Tata Sons.
●    The Committee has been constituted with a mandate to complete the process in four months. Also, there will be no change at the level of CEOs in the operating company.
●    Tata will be interim head of the group while a Selection Committee appointed by the company searches for a replacement.

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Indian physician Dr. Ketan Desai appointed as chairman of the World Medical Association

The top global medical ethics body, World Medical Association (WMA), appointed an Indian doctor facing corruption charges as its president.
●    Taiwan held its annual meeting in the WMA & announced Dr Ketan Desai was appointed Chairman of the Association.
●    He delivered the inaugural address as president in Taiwan. In 2013 WMA after assurance claim against Dr. Desai's by the Indian Medical Association (IMA) from the a president removed the suspension.
●    WMA's annual meeting held in Taiwan where more than 40 national medical associations were present.
●    He will remain chairman of the Association for 2016/17.
●    Dr. Desai has also been the Chairman of IMA.
●    Dr. Desai is urologists of BJ Medical College, Ahmedabad, head of the Department of Urology.
●    Currently he is a member of the Gujarat Medical Council. He became a member of 990's.


 

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DGFT appoints Ajay Kumar Bhalla as its DG

Senior IAS officer Ajay Kumar Bhalla was on 13 October 2016 appointed as the Director General of Foreign Trade (DGFT). 
●    He succeeds Anup Wadhawan, who was appointed as Additional Secretary in the commerce ministry.
●    Bhalla, a 1984 batch IAS officer of Assam-Meghalaya cadre, is presently an Additional Secretary in the Commerce Ministry.
●    Directorate General of Foreign Trade (DGFT) organisation is an attached office of the Ministry of Commerce and Industry and is headed by Director General of Foreign Trade.
●    It is entrusted with responsibilities for formulating and implementing the foreign trade policy with the main objective of promoting India's exports.
●    It also issues authorisation to exporters and monitors their corresponding obligations through a network of 36 regional offices and an extension counter at Indore.


 

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