12 July 2016

Utpal Bora appointed as Chairman of Oil India

  •  The Union Government appointed Utpal Bora as the full-time chairman of Oil India Ltd.

  •  Bora's appointment was recommended by a three-member search-cum-selection committee headed by Cabinet Secretary P K Sinha
  •  On the other hand, the Department Of Personnel And Training also announced the appointment of D Rajkumar as head of Bharat Petroleum.

  •   Rajkumar will take over the charge on or after 1 October 2016 after retirement of BPCL's current chief S Varadarajan in September 2016.

Sanjay Gupta appointed CMD of Konkan Railway Corporation

Sanjay Gupta has been appointed as chairman and managing director (CMD) of Konkan Railway Corporation Limited (KRCL). He is ex-Indian Railway Services of Mechanical Engineering (IRSME) officer. With this appointment he becomes youngest ever officer to be appointed as CMD of KRCL. Prior to his elevation, he was working as director (operating and commercial) of Konkan Railway from 2013. Besides he was also looking after the post of CMD after superanuation of the previous incumbent B P Tayal in November 2015.

About Sanjay Gupta
 Sanjay Gupta has a rich experience of more than 30 years as a mechanical officer of Indian Railways. He has worked on several prestigious and coveted posts as well as on various assignments over the Railways. Prior to his posting as director (operations and commercial) of Konkan Railway, he has also worked as chief mechanical engineer on Konkan Railway. He has pivotal role in bringing tremendous improvements in all spheres of working on Konkan Railway.

Six more Indians qualify for Rio Olympics

  •  Six Indians qualified for the Rio Olympics. These are RenjithMaheswary, AnirbanLahiri, Dharambir Singh, Jinson Johnson, Shiv Shankar Prasad Chawrasia and Aditi Ashok. Rio Olympics will be held from 5 August to 21 August 2016.

  •  RenjithMaheswary: The triple jumper leaped with a national record of 17.30 meters bettering the Rio qualification mark of 16.85 metres at the Indian Grand Prix in Bengaluru.
  •   Dharambir Singh: He in 200 meter race shattered national records by clocking 20.45 seconds to make the cut for Rio and become the first Indian to run in an Olympics 200m race after 36 years.
  • Jinson Johnson: He ran the second fastest ever 800 metres race to qualify.
  •  AnirbanLahiri, Shiv Shankar Prasad Chawrasia and Aditi Ashok: They qualified for Rio after the crossing the mark of rank 60 in world rankings.

Mahindra Aerostructures bags supply contract from Airbus

Mahindra Aerostructures, a subsidiary of Mahindra & Mahindra have bagged a Tier 1 supplier contract to supply airframe parts for Airbus’s AS565 MBe Panther helicopter. With this, Mahindra Aerostructures becomes the first Indian company to receive a direct manufacturing contract from Airbus (European aviation major) as a Tier 1 supplier.

Key Facts
  •  The helicopter parts will be produced at Mahindra’s facility in Bengaluru, Karnataka. 
  • They will be shipped directly to the Airbus Helicopter production line in Marignane, France. 
  • In this facility these parts will be integrated with the rest of the airframe assembly and will form a critical part of the Panther helicopters sold worldwide

 SBI inks MoU with IIT Bombay to promote startups in financial sector

The State Bank of India (SBI) has signed a memorandum of understanding (MoU) with the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay to promote innovation by start-ups in the financial sector. The SINE is IIT Bombay’s technology business incubator to promote innovation by startups in the financial sector
 Under this agreement

  •  SBI andboth the institutes will identify fintech (financial technology) start-ups that have products or applications to cater to the financial sector. 
  • These products or applications will identified by SBI and institutes to explore opportunities to enhance the synergy for their banking services 
  • SBI will provide a platform for testing or piloting such products and applications and maybe also check for any specific business linkages.
  • SBI will also interact with the entrepreneurial and research community of SINE to understand latest innovations and conduct knowledge sessions for mutual benefit to arrive.