B.Sriram resigns as SBI MD

SBI managing director B. Sriram has resigned from his post after being appointed as the chief executive of IDBI Bank. The news assumes significance amid reports that Life Insurance Corporation of India (LIC) is weighing acquiring a majority stake in the debt-ridden IDBI Bank. Sriram is the longest-serving public sector bank MD and has wide experience, including in stressed assets management.

Haryana makes LED bulbs mandatory in offices

The use of LED bulbs and tube lights has been made mandatory in all offices of Haryana. In this direction, Head of Departments and Managing Directors of Boards, Corporations, and Public Undertakings have been directed to replace lighting with LED lamps or tube lights by August 15. These halogen & sodium bulbs will be replaced with energy-efficient LED bulbs and tube lights.

Arjit Basu: New MD of State Bank of India

23 : The appointments committee of the cabinet has appointed Arijit Basu as the new Managing Director of State Bank of India till October 31, 2020. Prior to this, Basu was heading the corporate accounts group as the Deputy MD. SBI’s Managing Director B. Sriram will take charge as the MD and CEO of IDBI Bank after existing Chief MK Jain got recently appointed as the RBI Deputy Governor.

19th All India Conference of Finger Print

19th All India Conference of Directors of Finger Print Bureaux was held in Hyderabad. The prominent recommendations concerning issue to modernize Finger Print Bureaux, creation of database for suspects, amendment of identification of prisoners act. It was recommended to change the name of the conference to All India Conference of Fingerprint science.

M. Scorsese to receive Lifetime Achievement

Veteran director Martin Scorsese will be conferred with the Lifetime Achievement Award at the Rome Film Festival 2018. Martin Scorsese is an American director, producer, screenwriter, actor and film historian. He is widely regarded as one of the most significant and influential filmmakers in cinematic history. The 13th edition of the famed Rome film festival will run from October 18-28, 2018.

BBB recommends for promotion of 22 PSB GMs

The Banks Board Bureau (BBB) has recommended 22 general managers to be elevated as executive directors at various public sector banks. The Appointments Committee of Cabinet headed by PM will take the final decision in this regard. BBB was set up in February 2016 as an autonomous body– based on the recommendations of the RBI-appointed Nayak Committee. It was the part of Indradhanush Plan.

BBB recommends elevation of 22 GMs at PSBs

Banks Board Bureau (BBB), the advisory body formed by the government for selection of candidates for top level board appointment, has recommended 22 general managers to be elevated as executive directors at the various public sector banks. The Appointments Committee of Cabinet will take the final decision in this regard. This is the first major exercise undertaken by the BBB.

India to host European Union Film Festival

The European Union Film Festival will premiere in New Delhi on 18th June, 2018. With a selection of 24 latest European films from 23 EU Member States, this years’ film festival will bring some unusual stories for the world cinema enthusiasts. The European Union Film Festival is organized by Directorate of Film Festivals, Ministry of Information and Broadcasting, Government of India and EU.

Facial recognition system: Varanasi airport

Varanasi’s Lal Bahadur Shastri International Airport will become India’s first airport to have an automated smart facial recognition system at its entry, security and boarding points. The initiative, which is part of the DigiYatra scheme, will ensure quicker entry into airports by facilitating automated check-ins. It will be functional within the next 4 months as per Airport Director AK Rai.

Mahesh Kumar appointed as Dy Governor of RBI

Mahesh Kumar Jain has been appointed as Deputy Governor of the Reserve Bank of India for a term of three years. Presently, he is the Managing Director and CEO of IDBI Bank. Before his role in IDBI, Jain was the Managing Director and Chief Executive Officer of Indian Bank. As per the RBI Act, the central bank should have four deputy governors.