1. Paytm appoints Bhavesh Gupta as President and Chief Operating Officer (COO)
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On May 16, One97 Communications Ltd, the parent company of Paytm, appointed Bhavesh Gupta as the President and Chief Operating Officer (COO) of the fintech company.
An Overview of the News
Bhavesh Gupta previously served as Senior Vice President at Paytm.
He will oversee various verticals within Paytm including credit, insurance, online and offline payments and consumer payments.
Prior to joining Paytm, he held leadership positions at Clix Capital (formerly GE Capital), IDFC Bank and ICICI Bank.
About Paytm
Paytm is an Indian multinational financial technology company headquartered in Noida.
The company specialises in providing a wide range of digital payment solutions and financial services.
The primary focus of Paytm is to facilitate digital transactions and make payments convenient for the users.
Paytm provides a comprehensive platform that enables users to pay bills, recharge mobiles, book tickets and shop online.
Establishment - August 2010
Founder/CEO - Vijay Shekhar Sharma
Parent Organization - One97 Communications
2. Libyan parliament suspends its prime minister Fathi Bashagha
Tags: Person in news International News
Recently, the Libyan Parliament has decided to suspend the Libyan Prime Minister Fathi Bashagha from his post.
An overview of the news
The suspension reflects the internal conflicts and challenges facing the government in the country.
Fathi Bashagha has served as Prime Minister of Libya, leading the Government of National Accord (GNA).
He has been an influential figure in Libyan politics, contributing to stabilization efforts during a challenging period.
Reasons of suspension
The Libyan parliament's decision to suspend Fathi Bashagha stemmed from various factors and internal disputes.
These include allegations of mismanagement, corruption, or policy disagreements.
Impact on Libyan governance
The suspension of Prime Minister Fathi Bashagha has significant implications for Libya's governance and stability.
This highlights the internal power struggle and the need for political consensus among various factions within the country.
This event may lead to a reshuffle in government positions and possible changes in the political landscape.
Political disorder and fragmentation
Libya has been experiencing political disorder and fragmentation since the overthrow of Muammar Gaddafi's regime in 2011.
The suspension of the prime minister underscores the challenges faced by the Libyan government in achieving stability, consolidating power and meeting the needs of its people.
About Libya
Libya is a country located in North Africa. Most of the country lies in the Sahara desert.
Capital - Tripoli
Currency - Libyan dinar
Chairman of the Presidential Council - Mohamed al-Menfi
3. Nepal's mountaineer Kami Rita Sherpa scaled Mount Everest for a record 27th time
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Renowned Nepalese mountaineer Kami Rita Sherpa has set a new world record by successfully summiting Mount Everest for the 27th time on 17th May.
An overview of the news
Kami Rita Sherpa, born in Thame village in Solukhumbu district, Nepal, is widely regarded as one of the most accomplished mountaineers in history.
He has devoted his life to mountaineering and has made an extraordinary impact on the world of high-altitude climbing.
Setting a New World Record
With his 27th successful ascent of Mount Everest, Kami Rita Sherpa has surpassed his own record and cemented his place in mountaineering history.
His consistent determination, physical fitness, and expertise in navigating the challenging terrain have enabled him to achieve this remarkable feat.
Contributing to the Sherpa Community
As a Sherpa, Kami Rita Sherpa's achievements have brought immense pride and recognition to the Sherpa community.
Sherpas have a long tradition of providing essential support to climbers attempting to scale Everest.
Kami Rita's achievements have further enhanced their reputation as skilled and indispensable members of mountaineering expeditions.
About Mount Everest
Mount Everest is the highest peak of the Greater Himalaya mountain range located on the border of Nepal and China (Tibet) in Asia.
Mount Everest is called Devagiri in Sanskrit, Chomolungma in Tibetan, Chu-mu-long-ma-feng in Chinese and Sagarmatha in Nepali.
On 29 May 1953, Edmund Hillary of New Zealand and Tensingh Norgay Sherpa, an Indian citizen of Nepalese origin, climbed Mount Everest for the first time.
Junko Tabei (Japan) is the first woman to reach the summit of Mount Everest, as well as the first woman to climb the highest peaks on each of the 7 continents.
Bachendri Pal is the first Indian woman to climb Mount Everest in 1984.
Santosh Yadav is the first Indian woman to climb Everest twice in a row.
4. Govt appoints Ravneet Kaur as CCI Chairperson
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The government has appointed Ravneet Kaur as the new chairperson of the Competition Commission of India (CCI).
An overview of the news
Since the departure of Ashok Kumar Gupta in October 2022, there is no full-time chairman in the CCI for the last seven months.
She will replace CCI member Sangeeta Verma who has been serving as the interim chairperson since October last year after Ashok Kumar Gupta stepped down.
Kaur, a 1988 IAS officer of Punjab cadre, will be appointed for a period of five years from the date of assuming charge or till the date of attaining the age of 65 years or until further orders, whichever is earlier.
Kaur has held several positions in the government over the past two decades, besides serving as the chairperson of the India Tourism Development Corporation between 2017 and 2019.
Competition Commission of India (CCI)
It is the chief national competition regulator in India.
It was set up under the Competition Act, 2002.
It comes under the Ministry of Corporate Affairs.
It promotes healthy market competition and prevents activities that have an adverse effect on competition in India.
CCI also approves merger and acquisitions of companies in India so that the two merging entities do not dominate the market unfairly.
Headquarter - New Delhi
5. Duroflex ropes in Virat Kohli as brand ambassador
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Duroflex announces cricket icon Virat Kohli as its new brand ambassador to further its mission of advocating the importance of quality sleep in promoting a long healthy life.
An Overview of the News
Virat Kohli's strong association with the brand's mission has inspired him to take on the role of brand ambassador for Duroflex.
This collaboration will demonstrate Duroflex's commitment to spreading awareness about the connection between quality sleep and a healthier, more satisfying life.
Kohli also launched Duroflex's latest offering Neuma'.
About Virat Kohli
Early Life and Career: Virat Kohli was born on 5 November 1988 in Delhi, India.
Kohli made his international debut for the Indian cricket team in 2008.
Indian Cricket Captaincy:
Kohli took over the captaincy of the Indian cricket team in Test matches in 2014.
Under his leadership, India has achieved significant victories including a series win in Australia and a bilateral series win.
Awards and Recognitions:
He has been awarded the Sir Garfield Sobers Trophy for the ICC Cricketer of the Year.
Kohli also received the Rajiv Gandhi Khel Ratna, India's highest sporting honour.
6. Vedanta appoints Sonal Srivastava as its new CFO
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Vedanta Limited has appointed Sonal Srivastava as its Chief Financial Officer with effect from June 1, 2023.
An Overview of the News
Sonal Srivastava had served as the Chief Financial Officer for Asia Pacific, Middle East and Africa operations at Holcim Group.
She will work with internal and external stakeholders to develop and deliver business goals.
Chairman of Vedanta - Anil Agarwal
About Vedanta Limited
It is an Indian multinational mining company.
Main operations: Iron ore, gold and aluminium mining.
Operating in the States: Goa, Karnataka, Rajasthan and Odisha.
CEO - Sunil Duggal
Founder - Dwarka Prasad Agarwal
Established - 25 June 1965
Headquarters - Mumbai
7. Ashutosh Dixit appointed as Vice Chief of the Air Staff
Tags: Defence Person in news
On 15 May Air Marshal Ashutosh Dixit was appointed as the Vice Chief of the Air Staff.
An Overview of the News
He has commanded the Mirage 2000 Squadron, a frontline fighter base in the Western Sector and a major fighter training base.
He has held various positions at Air Headquarters, including Principal Director Air Staff Requirements, Assistant Chief of the Air Staff (Projects) and Assistant Chief of the Air Staff (Plans).
He has participated in missions like 'Safed Sagar' and 'Rakshak'.
Prior to this appointment, he was the Air Defense Commander of the Southern Air Command and the Senior Air Officer in the South Western Air Command.
Indian Air Force (IAF):
It is the air arm of the Indian Armed Forces.
Its primary mission is to secure Indian airspace and conduct aerial warfare during armed conflicts.
Establishment - 26 January 1950
Headquarters - New Delhi
Chief of Defense Staff (CDS) - General Anil Chauhan
Chief of the Air Staff (CAS) - Air Chief Marshal Vivek Ram Chaudhary
Vice Chief of the Air Staff (VCAS) - Air Marshal Amar Preet Singh
8. Pasang Dawa Sherpa became the second person to conquer Everest for the 26th time
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46 year old Pasang Dawa Sherpa, has become the second person to climb Mount Everest for the 26th time.
An Overview of the News
The Himalayan database confirms that Pasang Dawa Sherpa has previously climbed Everest 25 times, including two in 2022.
He has been climbing Everest almost every year since his first successful climb in 1998.
Kami Rita, a climber who is a U.S. Leading the team, and is the first person to conquer Mount Everest for the 26th time.
Mount Everest:
It is the highest mountain in the world, located in the Mahalangur Himal sub-range of the Himalayas.
Its summit point is located on the China–Nepal border with a confirmed elevation of 8,848.86 m (29,031.69 ft) in 2020.
The mountain is named after the former Surveyor General of India, George Everest.
It is known in Tibetan as Chomolungma, meaning "Goddess of the World," and in Nepali as Sagarmatha, meaning "Peak of Heaven."
In 1953, Edmund Hillary and Tenzing Norgay became the first climbers to reach the summit of Mount Everest.
About Nepal
Capital - Kathmandu
Prime Minister - Pushpa Kamal Dahal
President - Ram Chandra Paudel
Currency - Nepalese Rupee
Official language - Nepali
9. Praveen Sood appointed as new CBI director
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Praveen Sood, a 1986 batch Indian Police Service (IPS) officer of the Karnataka cadre, has been appointed as the next director of the Central Bureau of Investigation (CBI).
An Overview of the News
Praveen Sood will replace current CBI Director Subodh Jaiswal when his term ends on May 25.
The Department of Personnel and Training approved the appointment of Sood as CBI Director for a period of two years.
Central Bureau of Investigation (CBI):
CBI is the premier investigative agency of India.
It was established in 1941 as Special Police Establishment and later renamed as Central Bureau of Investigation in 1963.
Its primary objective is to maintain the integrity and credibility of administration, ensure justice and uphold the rule of law.
It is responsible for the investigation of a wide range of cases including corruption, economic offences, fraud, organised crime and other serious crimes of national and international importance.
Headquarters - New Delhi
10. Geeta Rao Gupta appointed US Ambassador for Global Women's Issues
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The US Senate has confirmed the appointment of Indian-American Geeta Rao Gupta as the 'Ambassador at Large'for global issues related to women at the State Department.
An overview of the news
The Senate is deeply impressed by Gupta's efforts to promote the rights of women and girls through US foreign policy.
Gupta's nomination was confirmed earlier this week by a 51-47 vote in the US Senate.
According to Geeta Rao Gupta, women across the world face many inequalities and stigma and this prevents them from participating fully in the economy.
She served as the executive director of the UN Foundation's 3D Program for Girls and Women.
She also advises the UNAIDS Global Coalition on Women and AIDS and is on the boards of the InterAction and Moria Fund.
She has also held the position of Co-Chair of the United Nations Millennium Project Task Force on Education and Gender Equality.
