Manish Jain Takes on New Role as Executive Director at YES Bank
YES Bank proudly announced that the Reserve Bank of India (RBI) has approved the appointment of Manish Jain as the Executive Director (Whole-Time Director) for a three-year tenure, starting from December 11, 2024. Jain, who previously served as the Country Head of the Wholesale Banking Group at YES Bank, will now lead the bank’s corporate and wholesale banking operations.
With over three decades of experience in the banking and financial services industry, including more than 23 years with Standard Chartered Bank, Jain brings a wealth of expertise to his new role. He holds a postgraduate diploma in management from IIM Bangalore and a B.Tech in mechanical engineering from IIT Delhi.
Walton Family Dominates Bloomberg’s 2024 Richest Families List
Bloomberg unveiled its annual list of the world’s richest families, revealing that the Walton family, owners of Walmart, have reclaimed the top position with an astonishing net worth of $432.4 billion. This extraordinary wealth exceeds that of individual billionaires like Elon Musk and various Middle Eastern royal families.
PM E-DRIVE Scheme: A New Era for Electric Mobility in India
India marked a significant milestone in its journey towards electric mobility with the launch of the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. This initiative is a key component of the FAME-III program, aimed at reducing fossil fuel dependence and boosting the adoption of electric vehicles (EVs).
With a budget of Rs. 10,900 crore allocated over two years, the scheme is set to promote the widespread use of electric two-wheelers, three-wheelers, trucks, ambulances, and buses. In addition to vehicle incentives, it will support the development of a robust charging infrastructure and the upgrade of vehicle testing facilities.
4th National Conference of Chief Secretaries 2024: Strengthening Federal Cooperation for India’s Growth
The 4th National Conference of Chief Secretaries began in New Delhi, spearheaded by Prime Minister Narendra Modi. The conference aims to boost cooperation between the Central and State Governments, emphasizing cooperative federalism to ensure effective coordination for accelerated growth and development.
This year’s theme, “Promoting Entrepreneurship, Employment, and Skilling – Leveraging the Demographic Dividend”, highlights key areas such as Manufacturing, Services, Rural Non-farm sectors, Urban development, Renewable Energy, and Circular Economy. Special sessions will address Frontier Technology for Viksit Bharat, Developing Cities as Economic Growth Hubs, Economic Reforms in States for Investment, and Capacity Building through Mission Karmayogi
India Pioneers ‘Green Steel’ Standards with Star-Rating System
India made a groundbreaking move by becoming the first nation to officially define “green steel”. This new standard specifies that steel produced with carbon dioxide emissions of less than 2.2 tonnes per tonne of finished steel qualifies as green. Alongside this, the government introduced a star-rating system to evaluate the environmental impact of steel production.
This initiative aims to promote sustainable practices within the steel industry and reduce overall carbon emissions. The star-rating system will help consumers and companies identify and choose environmentally friendly steel products, driving the market towards greener solutions.
Romania’s Far-Right Shift Sparks EU and NATO Concerns
The unexpected victory of far-right, pro-Russian candidate Călin Georgescu in Romania’s presidential race has raised alarms in Brussels. This shift signals potential destabilization within the EU and NATO alliances. Georgescu’s campaign, marked by nationalist rhetoric and anti-EU sentiments, has highlighted vulnerabilities in Romania’s electoral system and the influence of foreign interference.
The annulment of the election due to allegations of Russian meddling underscores the challenges faced by democratic institutions in safeguarding electoral integrity. Investigations into the interference are ongoing, aiming to address these critical issues.