1. RBI appointed Munish Kapoor as Executive Director
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The Reserve Bank of India (RBI) has officially named Munish Kapoor as Executive Director, with his new role starting from October 3, 2023.
An Overview of the News
Before his promotion as Executive Director, Munish Kapoor served as Advisor in Charge within the Monetary Policy Department.
He also held the position of Secretary of the Monetary Policy Committee (MPC), where he played a key role in influencing the monetary policies of the country.
New Role and Expertise:
As Executive Director, Munish Kapoor will now be responsible for overseeing the operations of the Department of Economic and Policy Research.
The department plays an important role in shaping economic policies and conducting research critical to the decision-making processes of the RBI.
About Reserve Bank of India (RBI)
Established - 1 April 1935, Kolkata
Founder - British Raj
Governor - Shaktikanta Das
2. Vice Admiral Tarun Sobti takes charge as Deputy Chief of Naval Staff
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Vice Admiral Tarun Sobti assumed the role of Deputy Chief of the Naval Staff (DCNS) on October 1, 2023, replacing Vice Admiral Sanjay Mahendru, who retired on September 30, 2023, after 38 years of service.
An Overview of the News
Vice Admiral Tarun Sobti has served in the Indian Navy since July 1988 with expertise in Navigation and Direction.
In his career spanning 35 years, he has held various command and staff positions both at sea and ashore.
Notable commands include INS Nishank (missile boat), INS Kora (missile corvette), and INS Kolkata (guided missile destroyer).
He has also served in staff roles in the Directorate of Personnel Requirements and Directorate of Personnel and as Naval Attache in the Embassy of India, Moscow.
Recognition and Honor:
Vice Admiral Tarun Sobti's extraordinary contribution to the Indian Navy has been recognized with prestigious awards.
He received the Vishisht Seva Medal in 2020 and the Ati Vishisht Seva Medal in 2022, both awarded by the President of India for his outstanding service and achievements.
3. Appointment of Lieutenant General Raghu Srinivasan as BRO chief
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Lieutenant General Raghu Srinivasan took over the role of the 28th Director General (DG) of the Border Roads Organization (BRO) following the retirement of Lieutenant General Rajiv Chaudhary on October 2, 2023.
An Overview of the News
Srinivasan is an alumnus of the National Defense Academy and the Indian Military Academy, who was commissioned into the Corps of Engineers in 1987.
He has participated in major military operations including Operation Vijay, Operation Rakshak and Operation Parakram.
Lieutenant General Srinivasan's expertise lies in serving in the border areas of India, particularly Ladakh, Arunachal Pradesh and Jammu and Kashmir, providing unique insight into the infrastructure needs.
Command and Staff Appointments:
Throughout his career, Srinivasan completed prestigious courses including the Defense Services Staff College, Higher Command and National Defense College.
He has commanded units such as 58 Engineer Regiment and 416 Engineer Brigade.
Held important positions like Deputy Director General of Discipline and Vigilance, Commandant of Bengal Engineer Group and Center Roorkee, Chief Engineer of Southern Command and Assistant Director General in Engineer-in-Chief Branch.
Legacy and Achievements of Border Roads Organization (BRO):
Established on May 7, 1960 with the primary objective of securing India's borders through infrastructure development in the far northern and northeastern areas.
BRO's contribution includes construction and dedication of more than 63,000 kilometers of roads, 976 bridges, six tunnels and 21 airfields.
In the last year, BRO completed a record-breaking 193 projects in eight border states and three Union Territories, at a total cost of ₹5,400 crore.
4. India celebrates 154th birth anniversary of Mahatma Gandhi with tributes and commemorative programs
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Commemorative events were organized across India and in Indian missions abroad on the 154th birth anniversary of Mahatma Gandhi on 2 October 2023.
An Overview of the News
An all-religion prayer meeting was held at Bapu's Samadhi at Rajghat in the national capital, where dignitaries including the President, Vice President and Prime Minister paid floral tributes to Mahatma Gandhi.
Bangladesh celebrated the birth anniversary of Mahatma Gandhi with programs organized by Gandhi Ashram in Noakhali.
The Prime Minister of Sri Lanka and the High Commissioner of India to Sri Lanka paid tribute to Mahatma Gandhi at the Temple Trees in Colombo.
Additionally, the nation also remembered former Prime Minister Lal Bahadur Shastri on his birth anniversary, and dignitaries paid floral tributes at his memorial Vijay Ghat in the national capital.
Gandhi Jayanti 2023:
Gandhi Jayanti is celebrated on 2 October to commemorate the 154th birth anniversary of Mahatma Gandhi.
The theme of Gandhi Jayanti 2023 is “One Date One Hour Together”, with emphasis on citizen-led one-hour Shramdaan for cleanliness on October 1, 2023 at 10 am.
Life and philosophy of Mahatma Gandhi:
Mahatma Gandhi was born on October 2, 1869 in Porbandar, Gujarat.
His philosophy was based on two pillars: Satyagraha (force of truth) and Ahimsa (non-violence).
Mahatma Gandhi was assassinated by Nathuram Godse on January 30, 1948.
5. Dr. Mohammed Muizzu wins the Maldives presidential election
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Dr. Mohammed Muizzu of the opposition PPM PNC alliance won the presidential election in Maldives with more than 53% of the votes.
An Overview of the News
Ibrahim Mohamed Solih of the ruling MDP received 46% of the vote in the runoff, up from 39% in the first round, but he fell short of the 50% needed to win.
The elections saw an improved turnout of 86% in the second round compared to 78% in the first.
About Maldives
It is officially called the Republic of Maldives.
It is located in the Indian Ocean.
It is classified as an archipelagic state.
This country is located in South Asia.
Geographically, it is located south-west of Sri Lanka and India.
Maldives is located about 750 kilometers from the mainland of the Asian continent.
Capital - Male
Currency - Maldivian Rufiyaa
Official language - Dhivehi
6. Marico's Saugata Gupta appointed ASCI Chairman
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Saugata Gupta, Managing Director and CEO of Marico Limited, was named the new Chairman of the Advertising Standards Council of India (ASCI).
An Overview of the News
Parth Sinha, President of Response at Bennett Coleman & Company Limited, was elected as the Vice Chairman of ASCI.
Sudhanshu Vats, Deputy Managing Director, Pidilite Industries Limited, was appointed as the Honorary Treasurer of ASCI.
About ASCI:
ASCI, established in 1985, is a voluntary self-regulatory organization within the Indian advertising industry.
It operates as a non-profit company under Section 25 of the Companies Act.
ASCI's primary mission is to promote self-regulation in advertising and protect the interests of consumers.
It enforces a code of self-regulation that mandates advertising that is legal, decent, honest, truthful and non-dangerous or harmful while ensuring fairness in competition.
Regulatory Role:
ASCI reviews and resolves complaints related to advertisements on various media channels including print, TV, radio and digital platforms.
It collaborates with government bodies such as the Department of Consumer Affairs, FSSAI, Ministry of AYUSH and Ministry of Information and Broadcasting to regulate misleading advertisements in specific sectors.
The Supreme Court of India has recognized ASCI's self-regulatory mechanism as an effective tool to regulate TV and radio advertising content.
ASCI is a member of the International Council on Advertising Self-Regulation (ICAS).
Recognition and Headquarters:
ASCI has received awards from the European Advertising Standards Alliance (EASA) for its efforts, including recognition for its mobile app "ASCIOnline".
The headquarters of the organization is located in Mumbai, India.
7. K.N. Shanth Kumar elected chairman of PTI's Board of Directors
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KN Shanth Kumar was elected as the Chairman of the Board of Directors of Press Trust of India (PTI) for a one-year term.
An Overview of the News
K.N. Shanth Kumar was elected after the Annual General Meeting held in New Delhi.
This change marks an important development in Indian journalism.
Shanth Kumar has replaced Avik Sarkar.
PTI chief appointed
Hindustan Times CEO Praveen Someshwar was elected vice-chairman of PTI's board of directors.
K.N. Shanth Kumar's distinguished career
Shanth Kumar, 62, has extensive experience in media management.
He has a long association with The Printers (Mysore) Pvt. Ltd.
His contributions extend to leadership roles in industry organizations including the Audit Bureau of Circulations (ABC) and the Indian Newspaper Society (INS).
About Press Trust of India (PTI)
PTI, established in 1947, is India's largest and oldest private news agency.
Owned by a consortium of newspapers, it reinvests profits in its growth.
Shanth Kumar's election marks a new era for PTI, underscoring its commitment to delivering credible news in a changing media landscape.
8. Chairman Dr. Manoj Soni administered oath to Dr. Dinesh Das as UPSC member
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On September 29, 2023, Dr. Dinesh Dasa took the oath of office and secrecy as a member of the Union Public Service Commission (UPSC). This oath was administered by UPSC Chairman Dr. Manoj Soni.
An Overview of the News
Dr. Dinesh Dasa holds a PhD in Forest Law and Sustainable Development from Gujarat National Law University, Gandhinagar and an M.Sc. in Forestry (Agroforestry and Ecology) from Gujarat Agricultural University, Navsari.
Dr. Dasa served as the Chairman of Gujarat Public Service Commission from February 2016 to January 2022.
He was also the Chairman of the Standing Committee of All India Public Service Commission from December 2020 to January 2022.
Standing Committee of All India Public Service Commission:
The Standing Committee consists of 9 members representing all the 28 State Public Service Commissions. It coordinates with UPSC on various matters.
Dr. Dasa chaired the drafting committee responsible for creating model syllabus and examination pattern for civil services examinations in the states.
The draft proposed by the committee of Dr. Dinesh Dasa received significant approval during the 20th National Conference of Chairman of all State Public Service Commissions held on 12-13 January, 2018 in Goa.
Union Public Service Commission (UPSC):
UPSC is a central recruitment agency in India and functions as an independent constitutional body.
Under Article 312 of the Indian Constitution, the Parliament is empowered to establish All India Services with recruitment by UPSC. State level administrative services recruitment is controlled by State Public Service Commissions.
The composition, appointment, removal, powers and functions of UPSC are defined in Articles 315 to 323 of Part XIV of the Indian Constitution.
UPSC Member Provisions:
The President appoints both the Chairman and other members of the UPSC.
A UPSC member serves for a term of six years or until he reaches the age of 65 years, whichever is earlier.
Once a person holds the post of UPSC member, he is not eligible for reappointment.
Members can resign by submitting written resignation to the President of India.
The Chairman or any UPSC member can be removed from his office only by order of the President of India.
The President has the power to suspend the Speaker or any other member before the expiry of their term, subject to reference to the Supreme Court.
9. RBI appointed KN Madhusudanan as part-time chairman of Dhanalakshmi Bank
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KN Madhusudanan has been appointed part-time chairman of Dhanalakshmi Bank by the Reserve Bank of India (RBI) after a vacancy of 21 months.
An Overview of the News
Madhusudanan's appointment is effective from September 26, 2023 and is for a tenure of 3 years.
Prior to this role, KN Madhusudanan served as an independent director on the board of the bank with effect from November 9, 2022.
KN Madhusudanan took over as part-time Chairman from G Subramaniam Iyer.
G Subramonia Iyer, who also served as an independent director, resigned from his post in December 2021.
After Iyer's resignation, the bank remained without a chairman for 21 months.
Background of KN Madhusudanan:
KN Madhusudanan is currently the Managing Director of various private limited companies, including companies focused on Micro, Small and Medium Enterprises (MSMEs).
His career started in civil construction in 1983.
He founded the Maavanal Group of companies and established two crushing units, Maavanal Granites Private Limited and Vajra Rock Mining Industries in Pathanamthitta, Kerala.
He is also the Promoter and Managing Director of M/s Mawanal Granites Pvt. Ltd.
About Dhanlaxmi Bank
Established - 14 November 1927
Headquarters - Thrissur
CEO & MD - J. Of. Shivan
About Reserve Bank of India (RBI)
Established - 1 April 1935, Kolkata
Founder - British Raj
Governor - Shaktikanta Das
Headquarters - Mumbai, Maharashtra, India
10. Appointment of Gokul Subramaniam as Chairman of Intel India
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Intel Corporation, the leading digital chip maker headquartered in the United States, has elected Gokul Subramaniam as the President of Intel India.
An Overview of the News
Gokul Subramaniam's responsibilities in his new role include overseeing Intel's engineering and design operations in India.
His duties include fostering innovation, enhancing cross-group efficiencies and ensuring successful execution of Intel products from Indian facilities.
It is noteworthy that he will continue to lead client platforms and systems within the Client Computing Group (CCG).
In June 2023, Nivrutti Rai, former country head of Intel India and vice president of Foundry Services, resigned from her post.
Subsequently, in July 2023, he took up the role of Managing Director (MD) and Chief Executive Officer (CEO) at Invest India, an investment promotion and facilitation agency run by the Government of India.
About Intel Corporation
It is commonly called Intel, is a technology company and multinational corporation based in Santa Clara, California.
It has the distinction of being one of the world's leading semiconductor chip manufacturers, recognized for substantial revenue generation in the industry.
Established - July 18, 1968
Founders - Gordon Moore, Robert Noyce and Arthur Rock
President -Frank D. Yeary
CEO - Pat Gelsinger
