13-14 October 2015
13 September
Infosys appointed Ranganath D Mavinakere as CFO
Indian IT giant, Infosys, on 12 October 2015 appointed Ranganath Dwarakanath Mavinakere as its Chief Financial Officer (CFO). The appointment came after the resignation of Rajiv Bansal from the post.
However, Bansal will continue as an advisor to the CEO and the Board through 31 December 2015 to provide a smooth transition.
Mavinakere has about 18 years of experience in banking and IT services industries.
Before the appointment, he held the positions of Executive Vice President and the Head of Strategic Operations, and looked over the functions of Strategy Planning, Risk Management, Corporate Marketing, and M&A. He also led the cost optimization initiative of the company as part of the Chairman’s Office.
In August 2013, Mavinakere was appointed as a member to Infosys executive council in August 2013. Prior to this, he worked as the head of the Domain Competency Group.
From 1991 to 1999, he worked as the senior vice president of Treasury and Planning with ICICI Limited.
He obtained an M Tech degree in mechanical engineering from the Indian Institute of Technology, Madras. He received a Post Graduate Diploma in Management (PGDM) from the Indian Institute of Management, Ahmedabad.
President Pranab Mukherjee visited Jordan
President Pranab Mukhrejee visited Jordan between 10 October and 12 October 2015. During his visit, Mukherjee met with His Majesty King Abdullah and senior Jordanian officials.
He visited the country on the invitation of His Majesty King Abdullah-II Ibn Al Hussein of the Hashemite Kingdom of Jordan.
At present, President Mukherjee is on the three-nation visit namely Jordan (10 to 12 October 2015), Palestine (12 to 13 October 2015) and Israel (13 to 15 October 2015).
During the visit, Jordan and India signed six cooperation memoranda of understanding (MoUs) in various vital fields. They also agreed to work for raising trade exchange to 5 billion dollars within five years.
Some important events that happened during the visit includes
• He delivered a lecture at the University of Jordan, where he was granted an honorary doctorate.
• The two sides held discussions several points and issues like
a) On greater cooperation in counterterrorism and defence sector
b) Trade and economic, and investment cooperation between India and Jordan
c) In trade and investment, President agreed to extend a line of credit of 100 million US dollar to Jordan
• President Mukherjee inaugurated a street named after Mahatma Gandhi in Amman and planted an Olive tree in peace park.
President Mukherjee also extended an invitation to the King of Jordan to visit India along with Queen Rania which he has accepted.
India signed contract for microlight aircrafts with Slovenian firm Pipistrel
India on 12 October 2015 signed a deal, worth 105.5 crore rupees, with Pipistrel, a Slovenian firm, for 194 micro-light aircraft to be used by Indian Air Force, the Navy and the National Cadet Corps (NCC).
The contract has been signed with the firm for Virus SW 80/100. However, the Indian version of the aircraft will be renamed as Garud.
The deal is signed after four years of protracted negotiations with the Slovenian firm meeting all the requirements put forth by India.
As per the deal, the entire quantity of 194 aircrafts must be delivered within 30 months from the day of the first delivery.
The contract incorporates an option for an additional 100 aircrafts within the third year if the buyer requests them.
It was in 2011 that India issued a Request for Proposal (RfP) for the micro-light aircrafts.
About Pipistrel Virus
• It is a two-seater light aircraft manufactured in Slovenia and sold as an ultralight, homebuilt kit, or light-sport aircraft.
• It is a high-wing, cantilever monoplane of pod-and-boom configuration with a T-tail.
• It won the NASA 2007 Personal Air Vehicle (PAV) Challenge and the 2008 General Aviation Technology (GAT) Challenge.
African Development Bank to triple Annual Climate Financing to nearly $5 billion by 2020
The President of the African Development Bank (AfDB), Akinwumi Adesina, on 9 October 2015 announced that the AfDB would nearly triple its annual climate financing to reach 5 billion dollar a year by 2020.
With this, the AfDB’s climate spending will increase to 40% of its total new investments by 2020.
How this fund will help African countries to step up and seize the opportunity to drive low-carbon, climate-resilient growth?
• Half of the 5 billion dollar will be dedicated to reducing Africa’s greenhouse gas emissions by unlocking Africa’s enormous potential for renewable energy, especially solar, hydro, wind and geothermal power.
• The AfDB will also work with its clients to improve energy efficiency and build sustainable transport systems.
• The other half of the 5 billion dollar will help African economies adapt to climate change through measures such as investing in climate-resilient crops, building sustainable infrastructure and improving irrigation and access to water.
• To this end, the Bank will also be integrating climate resilience into all of the infrastructure projects it finances.
AfDB actions to support efforts to tackle climate change
Soon after Akinwumi Adesina became President of AfDB in September 2015, the Bank unveiled the New Deal on Energy for Africa. The landmark initiative aims to solve Africa’s huge energy deficit by 2025, and to spur economic growth that will enhance Africa’s capacity to adapt to climate change.
The Bank’s announcement reflects the high priority it places on addressing climate change in its Ten Year Strategy 2013-2022, as well as massive new support for the energy sector.
In the past four years, the African Development Bank has committed almost 7 billion dollar to support climate-resilient and low-carbon development in Africa. Its energy investments in 2014 will deliver power that is 90% generated from renewable sources.
AfDB also supports the Africa Renewable Energy Initiative and the Africa Adaptation Initiative, both endorsed by the African Union heads of state and government.
African Development Bank (AfDB)
The African Development Bank (AfDB) based in Abidjan, Côte d’Ivoire, aims to spur sustainable economic development and social progress in its regional member countries, thus helping to reduce poverty.
The AfDB mobilises and allocates resources for investment, and provides policy advice and technical assistance. Established in 1964, it is owned by 80 members – 54 African countries and 26 non-African countries.
Indo-China Joint Military Exercise ‘Hand in Hand’- 2015 started
Fifth joint military exercise between India and China, named Hand-in-Hand 2015, started at Kunming Military Academy, Yunnan Province, China on 12 October 2015. The twelve day exercise lays emphasis on joint handling of counter terrorism and ‘Humanitarian Assistance and Disaster Relief’.
The exercise Hand-in-Hand-2015 will play important role in deepening mutual cooperation and forging a closer development partnership. It would also facilitate in tackling the world wide phenomenon of terrorism.
It would also expand the scope of military interaction, facilitate exchange of best practices in counter terrorism operations, enhance mutual understanding and trust and further promote friendly relationship between both militaries.
India-Sri Lanka Joint Exercise ‘Mitra Shakti-2015’ culminated
The third India-Sri Lanka joint training exercise, named Mitra Shakti-2015, culminated on 12 October 2015 at Aundh Military Camp, Pune.
The 14-day joint training included understanding of transnational terrorism, developing interoperability and conduct of joint tactical operations controlled by a Joint Command Post.
The exercise demonstrated the determination of the two Armies in working closely with each other to eradicate the menace of terrorism in all its forms.
The 2014 edition of the Mitra Shakti joint exercise was held at the Uva-Kudaoya Commando Regiment Training School near Colombo in Sri Lanka between 3 November and 23 November 2014.
Veteran filmmaker I.V. Sasi honoured with J.C. Daniel Award
Renowned Malayalam filmmaker I.V. Sasi on 12 October 2015 was awarded with the prestigious J.C. Daniel Award for the year 2014 for his contributions towards the Malayalam entertainment industry.
Sasi has made over 150 Indian films in various languages and genres. However, he is mostly known for his South Indian films.
He started his directorial career officially with his first film Ulsavam. He has directed more than 170 films over a span of 34 years. Most of his movies came out as super hits and some of them are even classified as classics or good cinema.
In 1982, his film Aaroodam won the Nargis Dutt Award for the best feature film on National Integration.
About J.C. Daniel Award
The J.C. Daniel Award is given by the Government of Kerala annually. The award was instituted in 1992 by Department of Cultural Affairs, Government of Kerala in the honour of J. C. Daniel, an Indian filmmaker.
The award is a division of the Kerala State Film Awards which is given to honour lifetime achievements and outstanding contributions to Malayalam cinema
India funded 5 million US dollars grant to Palestine as Budgetary assistance
India on 12 October 2015 granted a cheque of 5 million US dollars to the Palestinian government as a budgetary support. The grant was handed over by Indian President Pranab Mukherjee during his visit to Palestine.
Both countries also announced five projects worth 17.79 million US dollars aimed at capacity building in the Palestinian territories. The projects include a 12 million US dollars techno park, a 4.5 million US dollars Palestine Institute for Diplomacy and a 1 million US dollars India-Palestine Centre for Excellence in Gaza.
Mukherjee also reiterated India’s support to the Israeli-Palestinian crisis based on negotiations with UN Security Council resolutions.
Environment Compensation Charge to be imposed on commercial vehicles entering Delhi: SC
The Supreme Court (SC) of India on 12 October 2015 imposed anEnvironment Compensation Charge (ECC) on commercial vehicles entering Delhi, in addition to the toll tax. The court also directed the Delhi government to issue appropriate notification in this regard.
This ECC will be enforced for four months on a trial or experimental basis from 1 November 2015 and will end on 29 February 2016. The charges would be payable at the rate of 700 rupees for light duty vehicles and two-axle vehicles and would be 1300 rupees for three-axle and above.
This trial exercise will be held in a bid to check high pollution levels in New Delhi and to equalize the difference in cost in travelling through alternative routes.
The three-judge SC bench said that passenger buses, vehicles carrying essential commodities, food articles and ambulances would be exempted from paying the environment compensation charge.
Beside this, the SC bench comprised of Chief Justice HL Dattu, Justice Arun Mishra and Justice Adarsh Kumar Goel also nullified the 7 October 2105 order of National Green Tribunal (NGT) on the same issue. It made it clear that this order will override any order to the contrary by any authority.
To review the mechanism, the bench posted the matter for further consideration in the third week of February 2016.
The bench also said that the charge collected by the toll operators without any deduction will be handed over to the Delhi Government on every Friday. Further, the Delhi Government will have to furnish accounts of the receipts and the expenditure incurred to the Environment Pollution (Prevention and Control) Authority and to this Court each quarter.
Gujarat proposed 15375 crore rupees AMRUT Plan to ensure basic infrastructure in 31 mission cities
The Gujarat Government on 12 October 2015 proposed a 15375 crore rupees comprehensive action plan to ensure basic infrastructure in 31 cities under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) in the next five years.
Out of this proposed amount, 42 percent will be spent on providing water supply connections to all urban households in 31 AMRUT cities, 30 percent will be spent on providing sewerage connections to all households and 12 percent will be spent on ensuring drainage services and the rest on urban transport and provision of green spaces and parks.
Keeping in mind the low availability of sewerage network services in the Mission states, the state government also intends to set up 19 STPs(Sewerage Treatment Plants) at a total cost of 4721.57 crore rupees to create a total treatment capacity of 869 million litres per day.
Regarding financing during the five year Atal Mission period, the Gujarat Government has sought central assistance of 2478 crore rupees with the State contributing 1941 crore rupees and urban local bodies chipping in with 700 crore rupees as their share. Under convergence, investment of 10282 crore rupees is to be met from ongoing schemes of the state government.
This AMRUT action plan is now sent to the Union Ministry of Urban Development for its approval.
Telenor appointed Sharad Mehrotra as India CEO
Telenor India, earlier known as Uninor, on 12 October 2015 appointed Sharad Mehrotra as its new Chief Executive Officer (CEO). The appointment came after the position was vacated by Vivek Sood who has been promoted to the positions of Executive Vice President and Chief Marketing Officer (CMO).
The appointments will be effective from 1 November 2015.
Before the appointment, Mehrotra worked as Chief Marketing Officer of Telenor Myanmar, where he played a pivotal role in the successful launch of Telenor's mobile services.
About Telenor India
Telenor India is an Indian mobile network operator based in Gurgaon, Haryana. It was founded in 2009.
At present, the company comes under the umbrella of Telenor Group, a telecommunications company headquartered in Oslo, Norway, which owns 100 percent stakes in Telenor India Communications Pvt Ltd.
Green Indian Mission Plans approved for four states
National Executive Council (NEC) of the National Mission for a Green India (GIM) on 9 October 2015 approved the Perspective Plans & Annual Plan of Operations (APOs) submitted by four States, namely Mizoram, Manipur, Jharkhand and Kerala.
The plans were approved during the second meeting of NEC of GIM.
Approval was granted for alternative energy devices such as biogas, solar devices, LPG, biomass-based systems and improved stoves for 27032 households for the financial year 2015-16 and 81233 households for the total plan period. This will help in reducing pressure on forests, gaining carbon benefits, along with health and other associated benefits.
Highlights of the mission
• The plans have been approved with a total financial outlay of 90202.68 lakh rupees for a period of 5 to 10 years.
• APOs of 11195.32 lakh rupees have been also approved for financial year 2015-16.
• The total forest and non-forest area taken up in the four states under GIM during the total plan period will be 108335 hectares.
• Out of the total forest and non-forest area, 81939 hectares will be improving the density of existing forests and 16396 hectares will be new areas.
About National Mission for Green India (GIM)
The National Mission for Green India (GIM) is one of the eight Missions delineated under the National Action Plan on Climate Change (NAPCC). The mission aims at protecting, restoring and enhancing India’s diminishing forest cover and responding to climate change by a combination of adaptation and mitigation measures.
14 september
Alkesh Sharma appointed as CEO and MD of Delhi-Mumbai Industrial Corridor Development Corp
IAS officer Alkesh Sharma was on 12 October 2015 appointed as the Chief Executive Officer (CEO) and Managing Director (MD) of the Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC). His appointment was approved by the Appointments Committee of the Cabinet.
He would serve the office for three years from the date of assumption of charge. Sharma is a 1990-batch IAS officer of the Kerala cadre.
The 1483-km Delhi-Mumbai industrial corridor project is a state-sponsored industrial development project. This project is aimed at developing industrial zones and spreads across six states to boost economic development in the region and develop industries.
The project will be implemented through the Delhi-Mumbai Industrial Corridor Development Corporation.
About Delhi Mumbai Industrial Corridor
Delhi-Mumbai Industrial Corridor is a mega infra-structure project of 90 billion US dollars with the financial & technical aids from Japan, covering an overall length of 1483 KMs between Delhi and Mumbai.
This Multi-modal High Axle Load Dedicated Freight Corridor (DFC) will pass through the six States that is Uttar Pradesh, NCR of Delhi, Haryana, Rajasthan, Gujarat and Maharashtra with end terminals at Dadri in the National Capital Region of Delhi and Jawaharlal Nehru Port near Mumbai.
About Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC)
• DMICDC was incorporated on 7 January 2008 as the Project Development Agency for Delhi Mumbai Industrial Corridor.
• DMICDC acts as an intermediary for the purpose of development and establishment of infrastructure projects and facilities in India through developing and disseminating appropriate financial instruments.
• It acts as a pass through entity for specific projects and raises various financing instruments such as Project Development Fund (PDF) that could be used as a Revolving Fund.
• The corporation presently is aimed at developing Delhi Mumbai Industrial Corridor as a Model Industrial Corridor of international standards and as the Global Manufacturing and Trading Hub.
Shweta Rathore became first Indian female bodybuilder to win silver in Asian body building championship
Indian female bodybuilder Shweta Rathore in first week of October 2015 won a silver medal in the 49th Asian Bodybuilding and Physique Championship, held in Uzbekistan. With this, she became the first ever Indian female bodybuilder to win a medal at a continental level tournament.
Shweta, an engineer by qualification, won silver in the Women's Fitness Physique category and qualified for the World Championship, to be held in Thailand in November 2015.
Mumbai based Rathore has been the flag-bearer for women’s bodybuilding in India and have participated in several tournaments across the world. Earlier, she won a bronze medal at the the World Bodybuilding and Physique fitness Championship.
To help nurture the future of women in India, the 25-year-old athlete runs an NGO called God’s Beautiful Children. She also runs an Academy called fitness forever.
Rathore is also a panel member of the Body power Expo, one of the leading amateur competions in the world.
The 49th Edition of WBPF Asian Bodybuilding and Physique Championship 2015 were held from 29 September 2015 to 5 October 2015. The annual bodybuilding competition was organized by WBPF (World Bodybuilding & Physique Federation).
Alexander Lukashenko won Presidential election of Belarus for the 5th time
Alexander Lukashenko on 11 October 2015 won Belarusian presidential elections with over 83.5 percent of the votes. With this, the 61-year-old, who has governed the former Soviet republic almost unchallenged for 21 years, will be in power for the fifth time.
His closest rival, Tatiana Karatkevich, won 4.4 percent, with turnout at 87 percent.
Some 5.1 million out of the nearly 7 million registered voters cast their ballots in favour of the four terms President. This landslide victory exceeded Lukashenko’s 2010 victory that saw him re-elected with 80% of the vote.
Dubbed as Europe’s last dictator by the Bush administrator, Lukashenko has been in office since 1994.
The Central Election Commission results do not include ballots cast outside Belarus. International monitors of the election said that the election fell short of democratic standards.
Tamil Nadu Government banned drug Ketoprofen to save vultures
Tamil Nadu in the second week of October 2015 banned the use of Ketoprofen, a non-steroid anti-inflammatory drug (NSAID), which is used extensively for veterinary purposes. The step has been taken to save critically endangered vultures in the state.
As per the announcement of the state’s Directorate of Animal Husbandry, the use of drug will be discontinued in Erode, Coimbatore and the Nilgiris, where the vulture population is in danger.
The Tamil Nadu Government had included Ketoprofen based on an effort to identify an alternative to the banned drug Diclofenac.
Adverse effects of Ketoprofen on vultures
• Meat from animals that had been treated with ketoprofen could be lethal for the birds.
• Doses administered to cattle in India are sufficient to kill the birds.
• As per a study published in the Royal Society journal Biology Letters, the drug causes the birds to suffer acute kidney failure within days of exposure.
The vulture crisis in India
• Vihbu Prakash of the Bombay Natural History Society first noted a decrease in the number of vultures in the skies over India in the 1990s.
• Dr. Lindsay Oaks and his team in 2003 found out that diclofenac is the root cause for the decrease in the number of vultures.
• Diclofenac was taken off the market in India on 11 March 2006.
Sweet banana species, Musa Indandamanensis, discovered in tropical rain forest of Andaman Islands
Scientists at the Botanical Survey of India (BSI) discovered a new species of banana, named Musa Indandamanensis, from a remote tropical rain forest on the Andaman Islands.
The species was located about 16 kilometers inside the Krishna Nalah forest in the island. Bananas of this species are very sweet in taste and are eaten by tribal people of the island.
Features of Musa Indandamanensis
• It is a distinct global species with unique green flowers and fruit bunch lux (axis) thrice the size of a regular banana species.
• The fruit pulp of the species is orange in colour, which is distinctive from the white and yellow colour of regular bananas.
• Trees of this species are about 11 meter high, whereas, the regular species are about three to four meters high.
• The fruit lux of the species is about one metres, which is thrice the size of regular species.
• The flowers of the species are cylindrical, whereas, the flowers of other banana species are conical.
• Unlike other common species, the seeds can be used for germinating new plants.
The details of Musa Indandamanensis species of banana was published in Taiwana, an international journal on taxonomy and life sciences.
At present, about 52 species of banana are reported to occur in the wild across the world of which 15 are reported to be in India.
Reliance Power appointed N Venugopala Rao as CEO
Reliance Power on 13 October 2015 appointed N Venugopala Rao as its Chief Executive Officer (CEO) with immediate effect.
Rao, who has obtained an MBA degree in Finance & Marketing, holds a rich experience of about 35 years in project development, project finance, project planning, contracts management and Finance & Accounts.
Prior to the appointment, Rao was the CEO of Sasan Power Limited, a 100 percent subsidiary of Reliance Power, which developed the world’s largest integrated coal mine and power project, Sasan Ultra Mega Power Project (UMPP), with an investment of nearly 27000 crore rupees.
About Reliance Power
Reliance Power Limited, a part of the Reliance Anil Dhirubhai Ambani Group, was founded in 2007 and is headquartered in Navi Mumbai.
The company was established to develop, construct and operate power projects in the Indian and international markets.
Arun Jaitley chosen 'Finance Minister of the Year, Asia' by Emerging Markets
Union Finance Minister Arun Jaitley was chosen as 'Finance Minister of the Year, Asia' by London-based publication Emerging Markets in October 2015.
The magazine in an article said that Jaitley too deserves some recognition for India’s relative economic success over the last 18 months. It says that without his decisions and stewardship of India’s financial direction, India would not have achieved what it has.
Apart from this, Atiur Rahman, the Governor of Bangladesh Bank was named as the Central Bank Governor of the Year, Asia 2015. He was awarded for generating considerable strength and resilience in the economy of Bangladesh.
In 2014, the magazine had named governor of the Reserve Bank of India, Raghuram Rajan for Central Bank Governor of the Year award for Asia. In 2010, it also chose Pranab Mukherjee as 'Finance Minister of the Year, Asia'.
Emerging Markets is part of Euromoney Institutional Investor plc, one of the largest providers of financial information worldwide.
Rajasthan government signed 27 MoUs under Housing for All scheme
Rajasthan government on 13 October 2015 signed 27 MoUs worth 12478 crore rupees under Housing for All scheme in housing, healthcare and education sectors in the presence of Union Minister for Urban Development Venkaiah Naidu and state Chief Minister Vasundhara Raje.
With this, Rajasthan became the first state to firm up private investments in affordable housing.
Out of these 27 MoUs, 14 MoUs were for promoting housing projects with an investment of 9273 crore rupees. These 14 housing related investment projects are expected to provide employment to 26650 persons. Total employment from the 27 MoUs signed today is expected to be 38950.
Tata Housing Development Company Ltd has committed to invest 2000 crore rupees in affordable and mixed use township over an area of 10.12 hectares. While, Mahima Real Estate Private Ltd has signed MoU with the state government to invest 1700 crore rupees in affordable housing and group housing.
Two more firms including National Building Construction Corporation (NBCC) and Wish Empire have undertaken to invest 500 crore rupees each in Rajasthan.
Other MoUs signed were related to Medical and Health Care, Education, Industry and Tourism in different parts of Rajasthan.
Jamaican writer Marlon James won the 2015 Man Booker Prize for Fiction
Jamaican writer Marlon James on 13 October 2015 won the 2015 Man Booker Prize for Fiction for his novel A Brief History of Seven Killings. With this, James became the first Jamaican author to win the prize in its 47-years of history.
James was honoured with the prize money of 50000 Euros, a trophy and a designer bound edition of his book. He was also awarded with additional 2500 Euros for being shortlisted for the prize.
James’s name was shortlisted from a list of writers including Sunjeev Sahota, Chigozie Obioma, Hanya Yanagihara, Anne Tyler, Tom McCarthy and Marlon James.
A Brief History of Seven Killings: Marlon James
Published by Oneworld Publications, A Brief History of Seven Killings is a 686-page epic with over 75 characters and voices. Set in Kingston, birthplace of James, the book is a fictional history of the attempted murder of Bob Marley (The Singer) in 1976.
A Brief History of Seven Killings retells the mythic assassination attempt through the myriad voices from witnesses, FBI and CIA agents to killers, ghosts, beauty queens and Keith Richards’ drug dealer to create a rich, polyphonic study of violence, politics and the musical legacy of Kingston of the 1970s.
About Man Booker Prize
• First awarded in 1969, the Man Booker Prize is recognised as the leading award for high quality literary fiction written in English.
• The award promotes the finest in fiction by rewarding the very best book of the year. The prize is the world's most important literary award and has the power to transform the fortunes of authors and publishers.
• Its list of winners features many of the giants of the last four decades: from Salman Rushdie to Margaret Atwood, Iris Murdoch to JM Coetzee.
Etihad Airways signed deal worth 700 million US dollars with IBM
Etihad Airways and IBM on 13 October 2015 announced an information technology deal worth 700 million US dollars for over 10 years. The deal aims at improving the airline’s operations and security.
The deal incorporates analytics of customer data and the development of technology that can forecast weather patterns to better manage the airline’s flights at its Abu Dhabi centre.
As per the terms of agreement, about 100 Etihad staff will move to IBM, where they will help in developing and building a new data centre in Abu Dhabi.
The deal also includes IBM's mobile solutions, developed under the Apple-IBM alliance.
About Etihad Airways
Etihad Airways was founded in 2003 by Royal (Amiri) Decree issued by Sheikh Khalifa bin Zayed Al Nahyan. At present, it is the second-largest airline of the United Arab Emirates.
The flag carrier has its head office in Khalifa City, Abu Dhabi.
James Hogan is currently the Chief Executive Officer (CEO) of Etihad Airways.
PS Jayakumar appointed as MD and CEO of Bank of Baroda
PS Jayakumar on 13 October 2015 took over the charge of Managing Director (MD) and Chief Executive Officer (CEO) of state-owned Bank of Baroda. He has taken the charge when the bank is under the scanner for an alleged black money transactions worth over 6000 crore rupees.
On the other hand, Ravi Venkatesan, ex-chairman of Microsoft India, was appointed as the non-executive Chairman of the bank.
The alleged BoB scam
In the first week of October 2015, allegedly 6172 crore rupees were remitted from Bank of Baroda to Hong Kong. The amount was shown as payments for non-existent imports like cashew, pulses and rice. The amount was allegedly deposited in 59 accounts in cash as advance for imports that never existed.
Raptor MOU nations agreed to list 12 Vulture Species in Annex I to tackle African Vulture Crisis
At the 2nd meeting of the Signatories of the Memorandum of Understanding on the Conservation of Migratory Birds of Prey (Raptors MOU), member-countries agreed to add twelve species of Vulture in Annex 1 of the agreement as a response to the current African Vulture Crisis.
The meeting was held in Trondheim, Norway from 5 October to 8 October 2015 under the Convention on the Conservation of Migratory Species of Wild Animals (CMS) as a special instrument to address threats to Vulture species.
The twelve vulture species on which the agreement was reached includes the Hooded Vulture, White-rumped Vulture and the Lappet-faced Vulture among others.
Other highlights of the meeting
• At the meeting, Comoros added its signature bringing the number of Signatories of Raptor MOU to 53.
• Countries agreed to work together to better protect vultures, eagles, hawks, falcons and owls.
• To stop the dramatic decline of vultures, Iran announced its decision to ban diclofenac, a drug which almost wiped out vulture populations in India.
• The development of a Multi-Species Action Plan for all Old World Vultures was initiated to halt the decline of vulture populations. The initiative to develop priority species action plans via the Raptors MOU is also included in CMS Resolution 11.14 on Migratory Birds and Flyways.
At present, the Vultures are suffering serious declines which are caused by illegal take and trade, and poisoning with toxic chemicals, which present serious risks to human health too.
Convention on the Conservation of Migratory Species of Wild Animals (CMS)
The Convention on the Conservation of Migratory Species of Wild Animals (CMS) aims to conserve terrestrial, aquatic and avian migratory species throughout their range. It is an intergovernmental treaty, concluded under the aegis of the United Nations Environment Programme (UNEP), concerned with the conservation of wildlife and habitats on a global scale. With Brazil's accession there are now 122 Parties including the European Union to the Convention.