Appointments News
Sony Appoints Disney Veteran Gaurav Banerjee as New India CEO
In a strategic move to bolster its presence in the burgeoning Indian media landscape, Japan’s electronics and entertainment conglomerate Sony has appointed Gaurav Banerjee, a seasoned executive from Walt Disney, as its new Chief Executive Officer for India operations.
P Santhosh Takes the Helm as MD & CEO of NARCL
The National Asset Reconstruction Company (NARCL), India’s state-owned bad bank, has appointed P Santhosh as its new Managing Director and Chief Executive Officer. The decision was made by NARCL’s board, which recommended Santhosh for a three-year term at the helm of the asset reconstruction company.
Awards News
Top PSUs Honored at Outlook Planet Sustainability Summit & Awards 2024
The city of Goa recently hosted the first-ever Outlook Planet Sustainability Summit & Awards 2024 for Central Public Sector Enterprises (CPSEs) on May 27th. Organized by the Outlook Media Group with BDO India as the Awards Process Advisor and IIT Goa as the Knowledge Partner, the event provided a platform to recognize the sustainability initiatives undertaken by government-owned companies.
Agreements News
Indian Army and IOCL Join Forces for Hydrogen Fuel Cell Bus Technology Trials
Indian Army has joined hands with the Indian Oil Corporation Limited (IOCL) for demonstration trials of Hydrogen Fuel Cell Bus technology. This collaboration underscores the Army’s commitment to innovation and environmental stewardship.
Business News
IRDAI Mandates Shorter Audit Tenures to Boost Governance in Insurance Sector
In a move aimed at strengthening corporate governance in the insurance industry, the Insurance Regulatory and Development Authority of India (IRDAI) has issued new guidelines that reduce the engagement period of statutory auditors with insurance companies from 10 years to 4 years. This strategic decision is poised to ensure regular rotation and independence of audit firms, thereby enhancing transparency and accountability in the sector.
SEBI Shortens Commodity Derivatives Delivery Period to Boost Liquidity
In a strategic move to improve liquidity in the commodity derivatives market, the Securities and Exchange Board of India (SEBI) has reduced the deliverable period for commodity derivatives from the previous 5 days to 3 days. This regulatory change is set to take effect from July 1, 2024, and will apply to contracts with staggered delivery scheduled after this date.
International News
International Potato Day 2024: Harvesting Diversity, Feeding Hope
This year, the world will celebrate the first-ever International Potato Day on May 30th. In December 2023, the United Nations General Assembly designated May 30th as International Potato Day to be observed annually. The intent is to raise awareness of the immense nutritional, economic, environmental and cultural value of the humble potato.
International Everest Day 2024 Observed on May 29
On May 29, the world will observe International Everest Day in memory of Nepalese Tenzing Norgay and New Zealand’s Edmund Hillary, the first individuals to conquer the formidable Mt. Everest in 1953. This remarkable achievement etched their names in the annals of history, inspiring generations of adventurers and mountaineers.
