1. International Day of Parliamentarism - 30 June 2024
Tags: Important Days
June 30 is recognized as the International Day of Parliamentarism, which commemorates the founding of the Inter-Parliamentary Union (IPU) in 1889.
An overview of the news
This day holds significance as it provides an opportunity to acknowledge and appreciate the progress made by parliaments worldwide in achieving their predetermined goals.
International Day of Parliamentarism 2024 Theme:"Parliamentary Diplomacy: Building Bridges for Peace and Understanding"
Definition and Purpose of Parliamentary Diplomacy
Parliamentary diplomacy involves fostering relationships and promoting cooperation between national parliaments through various initiatives.
It encourages members of parliaments to engage in inter-parliamentary organizations, bilateral exchanges, and other diplomatic efforts.
Objectives of Parliamentary Diplomacy
Representing national interests on international platforms.
Facilitating dialogue and cooperation with parliamentary counterparts from other countries.
Working towards consensus on global issues through diplomatic channels.
Benefits of Parliamentary Diplomacy
Enhancing mutual understanding and trust between nations.
Contributing to peacebuilding and conflict resolution efforts.
Strengthening international cooperation and partnerships for sustainable development.
Role of Parliamentarians
Advocating for their countries' interests in international forums.
Building bridges and promoting cultural exchange through parliamentary engagements.
Supporting diplomatic efforts to address global challenges collaboratively.
Background of the day
The United Nations General Assembly adopted a resolution in 2018to establish the International Day of Parliamentarism, emphasizing the importance of parliamentary institutions in democratic governance.
The Inter-Parliamentary Union was founded in 1889, and the inaugural celebration of the UN International Day of Parliamentarism took place in 1899 to mark its establishment.
The day serves as a platform to reflect on the achievements and challenges faced by parliaments globally and to foster dialogue and cooperation among parliamentary bodies.
2. GRSE wins 'Sustainable Governance Champion Award 2024'
Tags: Awards
Garden Reach Shipbuilders & Engineers (GRSE) Ltd. received the "Sustainable Governance Champion Award" at the Outlook Planet Sustainability Summit & Awards 2024.
An Overview of the News
GRSE demonstrated a strong commitment to sustainable practices and governance excellence.
The award acknowledges GRSE's integration of sustainability into core operations.
Innovation and Environmental Stewardship:
GRSE is recognized for driving innovation in sustainable shipbuilding practices.
The company promotes environmental stewardship within the maritime and defense sectors.
Technological Advancements:
GRSE has implemented advanced technologies in its shipbuilding processes.
These technologies focus on eco-friendly measures to minimize environmental impact.
Significance of the Summit:
The Outlook Planet Sustainability Summit & Awards is a prestigious platform for industry leaders and policymakers.
It celebrates and promotes sustainable initiatives across various sectors.
3. CAG has Inaugurated the Chadwick House Museum in Shimla
Tags: National News
Comptroller and Auditor General of India, Girish Chandra Murmu, inaugurated the 'Chadwick House Navigating Audit Heritage' Museum in Shimla.
An Overview of the News
Chadwick House, a historic landmark in Shimla, hosted Mahatma Gandhi during the 1946 Cabinet Mission.
After independence, it housed a training school for the Indian Audit and Accounts Service until neglect led to its near demolition in 2018.
Restoration and Establishment:
The Supreme Audit Institution of India intervened to preserve Chadwick House's heritage.
An MoU with Prasar Bharati in December 2020 initiated its transformation into a museum.
Museum Features:
The museum showcases the evolution, achievements, and milestones of the Comptroller and Auditor General (CAG) institution.
It comprises ten galleries exploring various aspects of CAG's history through artefacts, documents, and interactive displays.
Exhibits include historical documents, artefacts, and photographs documenting CAG's role in governance and audits.
Inaugural Address and Purpose:
Murmu highlighted the museum's role as a knowledge repository and an inspiration for future auditors.
Chadwick House and its museum symbolize dedication to public service and governance integrity.
Educational and Historical Value:
The museum uses multimedia and artefacts to educate visitors about CAG's contributions to India's governance.
It aims to preserve and showcase the historical significance of auditing in India.
4. Cyril Ramaphosa Re-Elected South African President
Tags: International News
Cyril Ramaphosa has been re-elected as the President of South Africa.
An Overview of the News
This follows a landmark coalition deal between his African National Congress (ANC) and opposition parties.
The new government combines Ramaphosa’s ANC, the centre-right Democratic Alliance, and other smaller parties.
Parliament Vote
Ramaphosa won convincingly in a Parliament vote.
He received 283 votes against Julius Malema’s 44 in the 400-member house.
Malema is the leader of the far-left Economic Freedom Fighters.
Crucial Agreement
Ramaphosa secured his second term after an agreement with the Democratic Alliance.
This agreement was struck just hours before the presidential vote.
The ANC lost its 30-year majority in Africa’s national assembly.
Election Results
In the recent elections, the ANC’s vote share dropped to 40%.
The Democratic Alliance emerged as the second-largest party with 22% of the votes.
Co-Governance
The parties will now co-govern South Africa.
This marks the first national coalition where no party has a majority.
About South Africa
It is located at the southernmost tip of the African continent and is known for its diverse ecosystems.
Capital:- Pretoria (executive), Cape Town (legislative) and Bloemfontein (judicial)
Largest city:- Johannesbur
5. Appointment of Sandeep Batra as Chairman of ICICI Prudential Life
Tags: Economy/Finance Person in news
Sandeep Batra's appointment as Chairman of the Board of Directors of ICICI Prudential Life Insurance Company Limited has been approved by the Insurance Regulatory and Development Authority of India (IRDAI).
An Overview of the News
Batra will assume the role following the retirement of M S Ramachandran, who has reached the maximum age limit of 75 years. Batra's appointment will take effect from 30 June 2024.
About Sandeep Batra:
Long-Term Association: Batra has been associated with ICICI Group since 2000.
Executive Director at ICICI Bank: He has served as an Executive Director on the Board of ICICI Bank since 2018.
Board Memberships: Batra serves on the boards of ICICI Prudential Life Insurance, ICICI Lombard General Insurance, ICICI Prudential Asset Management, and ICICI Ventures.
Founding Member: He was one of the founding members of ICICI Prudential Life, holding the position of Chief Financial Officer (CFO) from September 2000 to 2006.
Previous Roles: Batra has held various positions including Executive Director and Board member from January 2014 to July 2018, and also served as a Group Compliance Officer at ICICI Bank.
About M. S. Ramachandran:
Non-Executive Independent Director: Ramachandran is the current Non-executive Independent Director and Chairman of the ICICI Prudential Board.
Corporate Leadership Experience: He has previously served as the Chairman of Indian Oil Corporation Limited, Chennai Petroleum Corporation Limited, among others.
Involvement in Governance: Ramachandran has been a Member of the Governing Council of India Habitat Centre.
Directorship at ICICI Bank: Additionally, he has served as a Director on the Board of ICICI Bank Limited.
About ICICI Prudential Life
It was established on July 20, 2000, as a public limited company according to the Companies Act of 1956.
Operations began in 2001 following its incorporation.
The company is jointly promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited.
Mr. Anup Bagchi serves as the Managing Director and CEO.
The headquarters of ICICI Prudential Life is located in Mumbai, Maharashtra.
6. Appointment of Pradeep Kumar Sinha as Non-Executive Part-time Chairman of ICICI Bank Limited
Tags: Economy/Finance Person in news
Pradeep Kumar Sinha appointed to succeed Girish Chandra Chaturvedi as the Non-Executive Part-time Chairman of ICICI Bank Limited upon Chaturvedi's retirement on June 30, 2024.
An Overview of the News
Sinha to assume the position from July 1, 2024, following Reserve Bank of India (RBI) approval, for a term of three years.
Sinha approved as an Additional Independent Director by ICICI Bank's Board of Directors for a five-year term (2024 to 2029) during the meeting held from February 15-17, 2024.
Background of Pradeep Kumar Sinha
Sinha, a 1977 batch Indian Administrative Service (IAS) officer from Uttar Pradesh (UP) Cadre, brings extensive administrative experience to the role.
Held Government Nominee Director positions in major public Sector Undertakings (PSUs) including ONGC, IOCL, HPCL, BPCL, and GAIL.
Served as India's Cabinet Secretary from 2015 to 2019, demonstrating leadership at the highest levels of government.
From 2019 to 2021, Sinha served as a Principal Advisor to Prime Minister Narendra Modi, contributing to strategic decision-making.
Additionally, Sinha served as an Additional Independent Director in Bharti Airtel Limited from 2022 to May 14, 2024, bringing corporate governance insights to his roles.
About ICICI Bank Limited
Established:- 1994
MD & CEO:- Sandeep Bakhshi
Headquarters:- Mumbai, Maharashtra
Tagline:- Hum Hai Na, Khayal Apka
7. Delhi High Court appoints Justice Najmi Waziri as Chairperson of Ad-hoc Administrative Committee (AAC)
Tags: Person in news
The Delhi High Court (HC) has appointed Justice Najmi Waziri, retired judge of Delhi HC, as the Chairperson of the Ad-Hoc Administrative Committee (AAC) to oversee the Equestrian Federation of India (EFI).
An Overview of the News
The committee includes Dr. S.Y. Quraishi, former Chief Election Commissioner (CEC) of India, as the Observer, and Advocate Rohini Musa as a Member of the AAC.
Key responsibilities of the committee:
Manage the daily administration and operations of the EFI.
Issue necessary orders for EFI's day-to-day functioning, authorized by the Chairperson's signature.
Establish appropriate governance arrangements for the EFI until new elections are held.
About Justice Najmi Waziri
Elevated as an Additional Judge of the Delhi High Court on April 17, 2013, and retired on April 14, 2023.
Famously known as the 'Green Judge' of Delhi for advocating the planting of 3.7 lakh trees to enhance the greenery of New Delhi.
Appointed as the Chairman of the Internal Departmental Committee in April 2024, tasked with protecting and managing deemed forests in New Delhi, Delhi.
Honored with the SKOCH India Law Award in 2023 for exemplary services to justice.
8. John Slaven Appointed Vice-Chairman of International Aluminium Institute
Tags: Person in news
Vedanta Aluminium has announced the appointment of its CEO, John Slaven, as Vice-Chairman of the International Aluminium Institute (IAI).
An Overview of the News
Leadership Role: In his new role, Slaven will lead global initiatives to promote sustainable transformation within the aluminium industry.
John Slaven's Role and Vision:
Sustainability Focus: Emphasizes aluminium’s crucial role in advancing the energy transition towards a Zero Carbon future.
Industry Advocacy: Aims to increase awareness of aluminium’s vast potential and promote its use in creating a greener planet.
John Slaven's Background:
Experience: Over 30 years in the metals, mining, and modern manufacturing industries.
Leadership: Held diverse positions in top companies, contributing to transformative advancements.
Current Role: As CEO of Vedanta Aluminium, he oversees the company's growth strategy, prioritising environmental, social, and governance (ESG) efforts.
Recognition: Under his leadership, Vedanta Aluminium has been recognised as the most sustainable aluminium company in the world.
International Aluminium Institute (IAI):
Establishment: Founded in 1972, it is the sole organisation representing the global primary aluminium industry.
Mission: Focuses on raising awareness about the industry’s operations, advocating for responsible production, and highlighting aluminium's environmental benefits.
Membership and Data: Includes the world’s leading bauxite, alumina, and aluminium companies, maintaining over 40 years of extensive global data on production, consumption, energy use, and environmental impact.
9. ITC's Sanjeev Puri takes over as CII chairman for 2024-25
Tags: Person in news
ITC Ltd Chairman and Managing Director Sanjeev Puri has assumed the post of CII Chairman for 2024-25, succeeding R Dinesh, Chairman, TVS Supply Chain Solutions.
An Overview of the News
The Confederation of Indian Industry (CII) held a meeting on May 19, 2024, to elect new office bearers for the year 2024-25.
About Sanjeev Puri:
Sanjeev Puri holds several key positions within ITC Limited, including Chairman of ITC Infotech India Limited and its subsidiaries in the UK and USA, as well as Surya Nepal Pvt. Ltd.
Under his leadership, ITC has launched the 'ITC Next' vision, which aims to transform the group into a future-tech, climate-positive, innovative and inclusive enterprise.
Sanjeev Puri has been honored with several awards, including the 'Best CEO Award' by Business Today in 2024 and the 'Transformational Leader Award 2022-23' by the Asian Center for Corporate Governance and Sustainability.
Rajeev Memani appointed as Chairman Designate of CII
He serves as Chairman of the India Region of Ernst & Young (EY) and is a member of EY's global management body, leading the Global Emerging Markets Committee.
Rajeev Memani is recognized as a trusted advisor to large Indian companies, private equity funds and multinational organizations, providing guidance on various aspects such as trust building, mergers and acquisitions, technology and smart capital allocation strategies.
R Mukundan appointed as CII Vice Chairman
He is the Managing Director and CEO of Tata Chemicals Limited and holds the status of a distinguished alumnus from IIT Roorkee and Harvard Business School.
With 33 years of experience within the Tata Group, R Mukundan has held various leadership positions in the chemicals, automotive and hospitality sectors, and has made significant contributions to the industry. He actively participates in industry forums and impact organizations.
About CII
The Confederation of Indian Industry (CII) is a prominent business lobby group in India, established in 1895 as the Engineering and Iron Trades Association in Bengal.
It was known as the Confederation of Engineering Industry (CEI) until 1992 when it adopted its current name.
CII is headquartered in New Delhi and advocates for business-friendly policies by engaging with the government.
Other key business lobby groups in India include ASSOCHAM, FICCI, and NASSCOM.
ASSOCHAM's President is Sanjay Nayar, FICCI's President for 2023-2024 is Dr. Anish Shah, and NASSCOM's President since 2018 is Debjani Gosh.
10. Keki Mistry Approved as Chairman of HDFC Life by IRDAI
Tags: Person in news
The Insurance Regulatory and Development Authority (IRDAI) has approved Keki Mistry's appointment as chairman of HDFC Life on May 7, 2024.
An Overview of the News
Mistry succeeds Deepak S. Parekh, who stepped down from the chairman and non-executive director roles.
HDFC Life's board unanimously endorsed Mistry's appointment on April 18, awaiting IRDAI's approval.
Formerly vice chairman and CEO of HDFC Limited, Mistry now serves as a non-executive director on HDFC Bank Limited's board post-merger.
About Keki Mistry
With directorships in multiple companies, Mistry is a chartered accountant and fellow member of the Institute of Chartered Accountants of India.
He contributes as a member of the Primary Market Advisory committee (PMAC) and has previous experience on SEBI's Corporate Governance Committee.
Mistry chaired the CII Corporate Governance Committee for two consecutive terms (2016-17 and 2017-18).
Currently, he leads Working Group 1 within an SEBI expert committee dedicated to enhancing business practices and aligning regulations.
HDFC Life Insurance Company Limited:
It is a provider of long-term life insurance services.
The company provides both individual and group insurance services.
Establishment - 14 August 2000.
Headquarters - Mumbai
