1. 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.
2. Tripathi as Lokpal Secretary, Ranjan as SSC Chairman, Yadav, Goyal, and Rajendra Kumar in New Roles
Tags: Person in news
Cabinet Approves Key Appointments: Tripathi as Lokpal Secretary, Ranjan as SSC Chairman, and New Roles for Yadav, Goyal, and Rajendra Kumar
An Overview of the News
Pradip Kumar Tripathi Appointed Secretary to Lokpal
IAS Pradip Kumar Tripathi has been appointed as Secretary to Lokpal until July 30th.
Rakesh Ranjan Approved as SSC Chairman
The Appointment Committee of the Cabinet has approved the appointment of IAS Rakesh Ranjan as Chairman of the Staff Selection Commission (SSC).
Amit Yadav Named Officer on Special Duty
IAS Amit Yadav (1991 batch) has been appointed as Officer on Special Duty in the Department of Social Justice and Empowerment. He will become Secretary after the current secretary, Saurabh Garg, retires on July 31st.
Raj Kumar Goyal Transferred to Ministry of Law and Justice
IAS Raj Kumar Goyal (1990 batch) has been transferred from Secretary of the Department of Border Management in the Ministry of Home Affairs to Secretary of the Department of Justice in the Ministry of Law and Justice.
Rajendra Kumar Appointed Secretary of Border Management
The committee has approved the appointment of IAS Rajendra Kumar (1992 batch) as Secretary in the Department of Border Management.
3. Gitanas Nauseda Re-elected Lithuanian President
Tags: Person in news International News
Gitanas Nauseda has been re-elected as the President of the Republic of Lithuania, securing a second five-year term from 2024 to 2029.
An Overview of the News
Gitanas Nauseda has held the office of President since 2019.
Nauseda won the presidential election with an impressive 74.43% of the total votes cast.
Ingrida Simonyte came in second place, securing 24.06% of the votes.
Background of Gitanas Nauseda:
Gitanas Nauseda, aged 60, holds expertise in economics, banking, and politics, hailing from Lithuania.
From 1996 to 2000, Nauseda occupied the role of Director of Monetary Policy at the Bank of Lithuania.
He further contributed to the banking sector as the Chief Economist to the Chairman of SEB bankas, a prominent commercial bank in Lithuania, spanning from 2008 to 2018.
In his capacity as President, Nauseda addressed Lithuania's responses to the Belarusian uprisings occurring between 2020 and 2021, as well as Russia's invasion of Ukraine in 2022.
About Lithuania
It is one of the three Baltic countries located in the northeastern region of Europe, alongside Estonia and Latvia.
It became a member of the European Union in 2004.
The Prime Minister of Lithuania is Ingrida Simonyte.
Gitanas Nauseda serves as the President of Lithuania.
The capital city of Lithuania is Vilnius.
The currency used in Lithuania is the Lithuanian litas (LTL).
4. Appointment of Jetha Ahir as NAFED Chairman
Tags: Person in news
Jetha Ahir, BJP MLA from Shehra and former deputy speaker of the Gujarat Assembly, has been elected uncontested as the chairman of National Agricultural Cooperative Marketing Federation of India (NAFED).
An Overview of the News
The election took place in Delhi, where Ahir was elected unopposed by the board comprising 21 directors. Notably, two directors are from Gujarat, including Mohan Kundariya.
Ahir, while elected as chairman, had reportedly supported Mohan Kundariya, the sitting Rajkot MP, for the position.
Previous Roles:
Apart from his new role, Ahir holds positions as the chairman of Panchmahal's Pancharmrut Dairy and the Panchmahal District Cooperative (PDC) Bank.
About NAFED
NAFED stands as the apex body for marketing cooperatives in India.
It oversees the marketing of agricultural produce.
NAFED serves as a central organization for coordinating marketing efforts among cooperatives.
Its primary role is to facilitate the marketing of agricultural products efficiently.
The official website of NAFED provides information and resources about its functions and activities.
Founded - 2 October 1958
Headquarters - Ashram Chowk, New Delhi, India
Procurement Activities:
NAFED, in collaboration with FCI and with the support of state governments, actively engages in the physical procurement of oilseeds, pulses, and copra.
This procurement is conducted under the Price Support Scheme (PSS), which falls within the broader framework of the PM-AASHA scheme.
Establishment of National Spot Exchange:
In 2008, NAFED established the National Spot Exchange, a commodities exchange.
This initiative was realized through a joint venture with Financial Technologies (India) Ltd. (FTIL).
5. 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
6. Payal Kapadia Becomes First Indian Filmmaker to Win Grand Prix at Cannes
Tags: Awards Person in news
Payal Kapadia becomes the first Indian filmmaker to win the Grand Prix award at the Cannes Film Festival.
An Overview of the News
Kapadia's film “All We Imagine as Light” won the Grand Prix, the second-most prestigious prize after the Palme d’Or.
The film is the first Indian film in 30 years and the first ever by an Indian female director to be showcased in the main competition at Cannes.
Prestigious Competition
Kapadia’s film competed against works by renowned directors like Francis Ford Coppola, Sean Baker, Yorgos Lanthimos, Paul Schrader, Magnus Von Horn, and Paolo Sorrentino.
The jury was presided over by Greta Gerwig, the director of ‘Ladybird’ and ‘Barbie’.
Previous Awards:
Three years ago, Payal Kapadia won the ‘le prix du Documentaire’ for Best Documentary for ‘A Night of Knowing Nothing’ at Cannes.
First Feature Film:
'All We Imagine As Light’ is Kapadia’s first feature film.
Film Synopsis of ‘All We Imagine As Light’
The film, an Indo-French production, tells the story of a nurse named Prabha who receives an unexpected gift from her estranged husband, causing disruption in her life.
Legacy of Indian Films at Cannes
Notable Selections: Other Indian films that have previously been selected for the Cannes competition section include works by Chetan Anand, V Shantaram, Raj Kapoor, Satyajit Ray, MS Sathyu, and Mrinal Sen.
Previous Winner: ‘Neecha Nagar’ remains the only Indian film to have won a Palme d’Or.
7. Vice Admiral Gurcharan Singh Assumes Command as Commandant of NDA
Tags: Person in news
Vice Admiral Gurcharan Singh assumed the role of Commandant, National Defence Academy (NDA), taking over from Vice Admiral Ajay Kocchar in Pune.
An Overview of the News
Gurcharan Singh is an alumnus of the National Defence Academy (Khadakwasla) and was commissioned into the Indian Navy on July 1, 1990.
Throughout his career, Vice Admiral Gurcharan Singh has held various appointments both at sea and on land.
He specializes in Gunnery and Missiles and has served aboard Indian Naval Ships Ranjit and Prahar.
Notably, he was part of the commissioning crew for three Indian constructed warships: INS Brahmaputra, INS Shivalik, and INS Kochi.
About NDA
The National Defence Academy serves as the training hub for the Indian Armed Forces.
Cadets from the Indian Army, Indian Navy, and Indian Air Force undergo joint training at the NDA.
Following their NDA training, cadets proceed to their respective service academies for further pre-commission training.
Established - 7 December 1949
Commandant - Vice Admiral Gurcharan Singh
About 146th NDA Passing Out Parade Honors Cadets in Pune Ceremony
Passing Out Parade (POP) of the 146th course of the National Defence Academy (NDA) took place at Khadakwasala, Pune.
The Convocation Ceremony of the 146th course was held at the Habibullah Hall.
General Manoj Pande, Chief of Army Staff, presided as the Reviewing Officer for the POP ceremony.
Pro. Dr. Sat Prakash Bansal, Vice Chancellor of Central University of Himachal Pradesh, served as the Chief Guest.
A total of 205 cadets were awarded bachelor's degrees from Jawaharlal Nehru University during the ceremony.
8. 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.
9. Deby Sworn in as Chad’s President, Names Allamaye Halina as PM
Tags: Person in news International News
Mahamat Idriss Deby was sworn in as President of Chad, succeeding his late father after serving three years as an interim leader under military rule.
An Overview of the News
Deby won the presidential election on May 6, 2024, and will serve a five-year term.
President Deby has appointed Allamaye Halina, Chad's former ambassador to China and former director general of state protocol, as the new Prime Minister of Chad.
Allamaye Halina replaces opposition leader Succes Masra, who resigned on May 22, 2024.
Succes Masra was appointed Prime Minister in January 2024.
About Chad
Chad, officially known as the Republic of Chad, is an independent state.
It is located at the crossroads of North and Central Africa.
Capital:- N'Djamena
Official languages:- French, Arabic
Currency:- Central African CFA franc
10. Ramesh Babu V. Appointed as Member of CERC
Tags: Person in news
Ramesh Babu V. has been appointed as a Member of the Central Electricity Regulatory Commission (CERC).
An Overview of the News
Ramesh Babu V. took the oath of office and secrecy on May 21, 2024.
The oath was administered by the Union Minister for Power and New & Renewable Energy, R. K. Singh.
Educational Background:
Ramesh Babu V. holds an M. Tech degree in Thermal Engineering.
He also holds a B. Tech degree in Mechanical Engineering.
Professional Experience:
Prior to his appointment, he was the Director (Operations) at NTPC from May 2020 until his retirement.
He has held various positions at NTPC during his career.
About CERC:
The Central Electricity Regulatory Commission (CERC) was established under the Electricity Regulatory Commissions Act, 1998.
CERC serves as the Central Commission under the Electricity Act, 2003, which repealed the ERC Act, 1998.
The Commission consists of a Chairperson and three other Members.
The Chairperson of the Central Electricity Authority is an ex-officio Member of the Commission.
Functions of CERC under the Electricity Act, 2003:
Regulate tariffs for Central Government-owned and composite scheme generating companies.
Oversee inter-State transmission and determine tariffs.
Issue licenses for inter-state transmission and trading.
Adjudicate disputes.
Advise the Central Government on National Electricity and Tariff Policies.
Promote competition, efficiency, economy, and investment in the electricity industry.
