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Chaturvedi: ICICI’s non-exec chairman

RBI has approved the appointment of Girish Chandra Chaturvedi as non-executive (part-time) Chairman of the ICICI bank till June 30, 2021. Girish Chandra Chaturvedi was previously the petroleum secretary. ICICI Bank announced that Kochhar has decided to go on leave till the completion of an external inquiry into the matter of lending loan to Videocon group.

LIC to acquire 51% stake in IDBI Bank

The Life Insurance Corporation (LIC) gave approval to the acquisition of up to 51% stake in debt-ridden IDBI Bank. This was informed by Economic Affairs secretary S C Garg. Now, the state-owned LIC will approach market regulator SEBI on the matter. The LIC stake buy will help the IDBI get a capital support of 10,000 to 13,000 crore rupees.

MCA to review offences under Companies Act

The Ministry of Corporate Affairs (MCA) has constituted a 10 Member Committee to review the penal provisions in the Companies Act, 2013. The Committee will review the provisions relating to non-compoundable offenses and recommend whether any such provisions need to be re-categorized as a compoundable offense. The committee is headed by the Secretary of Ministry of Corporate Affairs.

Panel for automatic suspension in RS

The rules review committee set up by Rajya Sabha Chairman M. Venkaiah Naidu has submitted its interim report. It made two key recommendations: automatic suspension of wilful offenders and changing question-hour timing. The two-member committee is headed by the former secretary general of Rajya Sabha V.K. Agnihotri. The report has to be approved by the Rules Committee of the Upper House.

Jeremy Hunt named UK foreign secretary

Jeremy Hunt will replace Boris Johnson as the U.K. foreign secretary following Johnson’s resignation. Hunt had served as health minister for more than 5 and half years, the longest term in the history of the State-funded National Health Service.

Nepal, India to jointly promote tourism

The 2nd meeting of the joint working group on tourism cooperation between India and Nepal concluded in Kathmandu, Nepal. Both sides agreed to jointly promote Buddhist and Ramayana circuits and Adventure tourism. The meeting also decided to set up an industry-led India Nepal Tourism Forum. The Indian delegation was led by the Joint Secretary, Ministry of Tourism Suman Billa.

Repatriation agreement of Bru persons

An agreement has been signed by Government of India, Governments of Mizoram and Tripura and Mizoram Bru Displaced People’s Forum (MBDPF). Persons presently in temporary camps in Tripura will repatriate to Mizoram and a Committee under Special Secretary will coordinate the implementation of this agreement. India will provide financial assistance for rehabilitation of Brus in Mizoram.

Karnataka to release water

The Cauvery Water Management Authority (CWMA), directed Karnataka to release water to Tamil Nadu and other States. The CWMA, which is yet to appoint full-time members, is scheduled to meet every 10 days during the monsoon months. The CWMA consists of a Chairman, a senior and eminent engineer, 2 whole-time members, 6 part-time members and a Secretary.

ICICI Bank gets new part-time chairman

ICICI Bank has appointed former bureaucrat Girish Chandra Chaturvedi as its non-executive part-time chairman. Chaturvedi is a 1977-batch IAS officer, who retired as the Oil Secretary in January 2013. The term of M K Sharma, the current chairman of ICICI Bank, ends on June 30.

Jean-Pierre Lacroix to visit India

UN Under-Secretary-General for Peacekeeping Operations Jean-Pierre Lacroix will visit India and 3 other nations to thank the troop-contributing countries for their service. Lacroix will visit Bangladesh, Nepal, India, and Pakistan. India is among the largest troop-contributing countries to UN peacekeeping missions with 6,712 Indian personnel currently deployed in 9 peacekeeping missions.

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