What people say about us!

Whispers - A real think-tank for intellectuals exhibiting the green as well as red areas of the administrative machinery for consumption of all - Hats off.

Neha Bindra

POLITICS

This is History (43)
What the old India idea of kingship was. From the old Aryan days to Ashok's time and from the Arthashastra to the Nitisara of Sukracharya, it is repeatedly stated that the King must bow down to public opinion. It is the public that is the ultimate master.

MACPs scheme recommended to be replaced ?
In the Pay Commission report, the present MACP scheme is recommended to be replaced by giving 4 up gradation after completion of 10, 18, 25, 30 years of continuous service.

Under Consultation- Right to Privacy Bill
The Government is in the process of drafting a legislation that seeks to provide protection to individuals against breach of their privacy through unlawful means, which, at present, is at consultation stage.


Zero balance accounts in PMJDY decline
A deposit of Rs. 20769.33 crore has been mobilized in the accounts opened under Pradhan Mantri Jan Dhan Yojana PMJDY. Rupay card has been issued to 15.26 crore beneficiaries who will get a benefit of personal accidental insurance of Rs. 1.00 Lac under the Yojana. But Zero balance accounts in PMJDY have declined from 76% to 46.93% from September 2014 to July2015.

Abh kya keeje Nitish Babu..
Nitish Babu aaj dukhi toh bahut hogge!
Abh kiss tohmat ka sahara logge!!

Kuch hazaar crore... yehi thi aap ki reading!!
Media ko toh this you were feeding!!

Jabh sunna 1.25 lac crore alarm bajh gaya!!
Aur 40 lac crore aur sunn ke aap ne dill mein bolla..Modi ji karro daya!!

Abh toh leh gaye Modi.. dhoti lotta aur Chowpatty!!
Caarawan nikkal gaya aur aap ne dhull chaati!!

Kuch socho ulta pulta apne aap ko bachao!
Nahi toh firr abh se hee haar ko pachchao!

Yeh boll sakthe ho..ek saath ek free ka zamaana hai!
Firr toh double Bihar ko aana hai!!

Modi ji 1.25 lac crore kyon...double honna chahiye!!
Humme iss 1+1 ke zamaane mein 1.25+1.25 chahiye!!!

Ya firr bollo humm toh 3 lac crore ka demand kiya hai!!
Matlab humaari apeksha se kumm diya hai!!

Proof maange toh koyi kaagaz thamaa dena!!
Pawan Verma ko TV pe bhejna boll ke ...abh baatho se jamaa dena!!

Modi ne aap ko kahee ka nahi chodda!!
Aap ka bharosa thoda!!

Aap ko pucca bharosa tha zyaada nahi denge!!
Aur firr humm Bihar ko let down kiya kahenge!!

Laloo se loh advice!!!
Parr yeh lethe lethe matt leh lena Kheni waala vice!!

Ya firr dukh se bollna ...duss saal ho gaye aaram chahiye!!
Haar ka baad bollna.. abhi bollo ge toh Public bolle gi abhi jaayeeye!!

WARNING....Thank you kabhi matt kehna!
Nahi toh .... BJP ke saath Alliance kyon thoda padhe ga sehna!!

Billkul dheele matt padhna... Besharmi ka loh full sahaara!!
Waise bhi aap ne waapas power mein nahi aana 'thibaara'..

Disclaimer .... All alleged .. Satire ..read it and forget it


VJS

BUREAUCRACY

18 IAS officers to retire in August
As many as 18 IAS officers are retiring in August 2015. The officers are: I V Subha Rao and P Venkateswarlu of Andhra Pradesh cadre; Manoj Kumar Shrivastava of Bihar cadre; Manoj Kumar Srivastava of Bihar cadre; Gauri Kumar and H N Thakkar of Gujarat cadre; Tanveer Jehan of Jammu & Kashmir cadre; Jose Issac of Kerala cadre; Bimal Julka, Ajita Bajpai Pande, K Suresh and Dr Rajkishore Swain of Madhya Pradesh cadre; Samarjit Bhowmik of Manipur-Tripura cadre; Nilanjan Sanyal of Orissa; Dr Arvinder Singh of Punjab cadre; Rajiv Mehrishi of Rajasthan cadre; Dr Tuk Tuk Kumar, Pradip Ramdas Baviskar and Utpal Mukherjee of West Bengal cadre.

1982 batch IPS empanelment as SDG likely this month
The process to empanel 1982 batch IPS officers as Spl DG is likely to be completed by the end of this week.

Karnal Singh is also Enforcement Director
Karnal Singh, Special Director, Central Region, Enforcement Directorate, has been assigned an additional charge of Enforcement Director for a period of three months. He is a 1984 batch IPS officer of UT cadre.The MHA has issued his orders for ADG NIA but the orders of Finance Ministry is yet to issue orders.With the changed atmosphere he may continue as ED.

Four IRS-C&CE officers posted to Enforcement on deputation
Four officers belonging to Indian Revenue Service of Customs and Central Excise have been posted to the Directorate of Enforcement on deputation. Accordingly, Madhav C Mishra has been posted to Bhubaneswar while S A Umashankar Goud was posted to Hyderabad and Sheo Dayal Chand is being placed at Kolkata. Besides, Rahul Rajput has been posted to Delhi.

B N Sharma likely to get charge of CMD, NTPC
Badri Narain Sharma, Additional Secretary in the Ministry of Power, is expected to get additional charge of CMD of NTPC. He is a 1985 batch IAS officer of Rajasthan cadre.

Ms Jyoti Trivedi appointed Director, CVC
Ms Jyoti Trivedi has been appointed as Director in the Central Vigilance Commission (CVC) in Government of India. She is a 2000 batch IOFS officer.

Ashok Kumar Singh selected for CMD, BCPL
Ashok Kumar Singh, GM, BCPL, has been selected for the post of Managing Director, Brahmaputra Crackers & Polymers Limited (BCPL) at a Public Enterprises Selection Board (PESB) meeting held on August 19, 2015. As many as nine persons were interviewed for the same

Delay in joining of Harish Chandra as Director (Fin), NSIC
Harish Chandra, GGM, CONCOR, who received orders for appointment as Director (Finance), National Small Industries Corporation Limited (NSIC), has not taken over charge as the post has been lying vacant since October 24, 2014.

Kalra gets additional charge of MD and CEO Andhra Bank
The ED of Andhra Bank Satish Kumar Kalra has been given the additional charge of Managing Director and CEO of the bank for three months.

Mohan Kumar accredited as Ambassador to Principality of Monaco
Dr Mohan Kumar, presently Ambassador of India, France, has been concurrently accredited as the Ambassador of India to the Principality of Monaco, with residence in Paris. He is a 1981 batch IFS officer.

Three MP High Court Judges to retire in September
Three Madhya Pradesh High Court Judges are retiring in September. The High Court is facing shortage of Judges.

Proposal of Scooter India Ltd., CMD rejected
The ACC has rejected the proposal of the appointment of Rahul Bali as CMD of Scooter India Ltd. Now there will be fresh advertisement for the post.

Posts of MD in three nationalized banks still lying vacant
Post of MD is still lying vacant in the three nationalized banks in the country.

Joint Secretary, Textile's post to fall vacant in Sept
The post of Joint Secretary is falling vacant in the Ministry of Textile in September 2015.

Vacancy of ADG, BIS in Sept
The post of ADG, BIS at Joint Secretary level is falling vacant in the Department of Consumer Affairs in September 2015.

P K Yadav posted as Consul, Houston
Indian Foreign Service officer, P K Yadav has been appointed as Consul, Houston.

Shiv Sagar posted as Second Secretary, US CE
Indian Foreign Service officer, Shiv Sagar has been appointed as Second Secretary, US (CE) in the rank of Second Secretary.

R P Nibariya posted as Adviser (Ele), Railway Board
R P Nibariya presently Chief Electrical Engineer, North Eastern Railway, has been transferred to Railway Board in the same capacity as Adviser (Electrical). He is an IRSEE officer.

Lt Gen Hira is new head of Northern Command
Lieutenant General N P S Hira has been appointed Chief of Staff Northern Command at Udhampur.
(We said this on August 3)

Arun Singhal is new CEO, UP
Arun Singhal will be new Chief Electoral Officer in Uttar Pradesh. He is 1987 batch IAS officer of UP cadre.

80 posts of IPS officers vacant in Odisha
Around 80 posts of Indian Police Service (IPS) officers have been lying vacant in Odisha cadre.

R K Mishra moves to CRPF Headquarters
Incharge of Naxal operations in Jharkhand R K Mishra has been moved to the CRPF Headquarters as IG (Provisioning).

R K Kashyap returns to cadre
Upon return from deputation to RLDA, R K Kashyap has been posted in the cadre of Northern Railway. He is an IRTS officer.

IAS changes in Odisha
Laxminarayan Gupta was appointed PS Skill Development has been given additional charge of tourism . Women and child development secretary Saswat Mishra was posted as the secretary of the newly created social security and disabled welfare department with additional charge of sports and youth services department. Industries secretary Sanjeev Chopra will get additional charge of chairman-cum-managing director of Industrial Infrastructure Development Corporation in place of Vishal Dev, who was posted as secretary of women and child development department. Shalini Pandit has been appointed appointed as additional secretary, health & family welfare.

PESB seeks applications for CMD of HPCL
The Public Enterprises Selection Board (PESB) has invited applications for the post of Chairman-cum-Managing Director, Hindustan Petroleum Corporation Limited (HPCL) falling vacant on April 1, 2016. Those willing to apply can send their applications to the PESB before September 18, 2015.

Appointment of Air India CMD today -IAS unlikely (UPDATED)
Appointment of new CMD of the Air India is expected to take place today.This time An IAS is unlikely to replace Rohit Nandan as CMD. Rohit Nandan to be appointed as Secretary in the GoI .

Pandiyan appointed Chairman of BECL (UPDATED)
Former Chief Secretary of Gujarat D J Pandiyan has been appointed Chairman of the Bhavnagar Energy Company Ltd (BECL). He is 1980 batch IAS officer of Gujarat cadre.

Ashwani Lohani appointed as CMD, Air India Limited (UPDATED)
Ashwani Lohani has been appointed as new Chairman-cum-Managing Director of Air India Limited (AIR). Lohani, who is on deputation to Madhya Pradesh Government as MD & Commissioner of Madhya Pradesh Tourism Corporation, belongs to Indian Railways Service of Mechanical Engineers (IRSME).

158 IAS officers of 2013 batch posted as Asst Secretary in GoI (UPDATED)
As many as 158 IAS officers of 2013 batch who completed their phase-II training at Lal Bahadur Shastri National Academy of Administration, Mussoorie have been appointed as Assistant Secretary for a period of three months in various Ministries of Government of India on central deputation. Details of postings at following link: http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02eod/Appt-IAS-2013.pdf

Tenure of Manoj Kumar as CVO, CIL extended (UPDATED)
The tenure of Manoj Kumar as Chief Vigilance Officer (CVO) in Coal India Limited (CIL), Kolkata has been extended for a period of two years upto July 2, 2017. He is a 1990 batch IAS officer of MT cadre.

G C Manna is also ADG, FOD, NSSO (UPDATED)
G C Manna, ADG, ESD, has been assigned an additional charge of ADG, FOD, NSSO during the absence on leave of Mrs Amarjeet Kaur upto August 28, 2015. He is an ISS officer.

Praveen Bonigala appointed as Director, Commerce (UPDATED)
Praveen Bonigala has been appointed as Director in the Department of Commerce in Government of India. He is a 1995 batch IFS officer of Rajasthan cadre.

Pardeshi is also Commissioner-cum-Director Town & Country Planning in CG (UPDATED)
Siddharth Komal Singh Pardeshi, Commissioner Chhattisgarh Housing Board, has been assigned an additional charge of Commissioner-cum-Director, Town and Country Planning. He is an IAS officer of Chhattisgarh cadre.

Manish Shankar Sharma posted as IG, SAF in MP (UPDATED)
Manish Shankar Sharma has been appointed as IG, SAF, PHQ, Bhopal in Madhya Pradesh. He is a 1992 batch IPS officer of MP cadre.

Dr Pankaj Jain posted as SDO, Gwalior in MP (UPDATED)
Dr Pankaj Jain has been appointed as SDO, Revenue, Dabra in Gwalior in Madhya Pradesh. He is a 2012 batch IAS officer.

Tenure of Venkataramana as Additional Secretary, Atomic Energy extended (UPDATED)
The tenure of C B S Venkataramana as Additional Secretary, Department of Atomic Energy, has been extended upto September 30, 2015 on which he is retiring. He is a 1982 batch IAS officer of Telangana cadre.

J S Deepak continues holding additional charge of CMD, ITPO (UPDATED)
J S Deepak has been assigned an additional charge of Chairman-cum-Managing Director, India Trade Promotion Organization (ITPO) until appointment of a regular appointee. He is a 1982 batch IAS officer of UP cadre.

Guidelines for selection of MD & CEOs in PSU Banks (UPDATED)
The Government of India has approved the guidelines for selection of MD & CEOs in Public Sector Banks (PSBs) other than five large Public Sector Banks. Executive Directors of Nationalised Banks, DMDs of IDBI Bank and MDs of Associate Banks of SBI who have risen from the Associate Bank Services, with one year of service as ED/DMD/MD and who have two years remaining service are eligible to consideration as MD & CEO. The selection will be made by the Appointments Board as per the existing methodology of interaction of the candidates with three panels of the Sub-committee of the Appointments Board. The candidates will be rated out of 100 marks with 50 marks to be awarded for APARs of five years and 50 marks assigned on the basis of performance during interaction with the Sub-committee. The guidelines have also laid down the eligibility criteria for the post of Executive Directors of the nationalized banks. General Managers of nationalized Banks and CGMs of Associate Banks of SBI who have risen from the Associate Banks Service, and who have completed two years of service are eligible for consideration for the post of Executive Director. The selection process is to be initiated in the next month.

69 IRS-Customs officers transferred at PC/PrADG level (UPDATED)
As many as 69 officers belonging to Indian Revenue Service of Customs and Central Excise cadre have been transferred at Principal Commissioner/Principal Additional Director General level. Accordingly, Ms Amita Suri has been posted as PC, Delhi ST-I with additional charge of CC Delhi ST; S C Varshney was made PC, Mumbai-CX with CC Mumbai-CX and R K Sharma is posted as PC, Kolkata-CX with Kolkata CX and Bhubaneshwar CX. Similarly, Arvind Singh has been appointed as PC, Vadodara -CX, with CC Vadodara CX; janaki Arun as P C Chennai-CX with Chennai and Coimbatore CX; Hemant A Bhat as PC Bhopal CX; Kamal Jyoti as PC Delhi Cus Prev; Bhikhoo Ram as PC Pune-I CX; Brojen Thamer as PC Kolkata AP &ACC Cus with Shillong CX charge; Prashant Kumar as PrADG Val Mumbai with DG Valuation, Mumbai; Pranab Kumar Das as PC, Chennai-III Cus with Trichy Cus; Johan Joseph as PrADG, DGRI, HQ Delhi with DGEP; Seema Malik as PrADG, DG, Systems Chennai; Raj Kumar Bhartwal as PC, Meerut CX; Harinder Bansi as PC, Delhi-I CX; Sheo Narayan Singh as PC, Patna CX; C P Rao as PC Chennai ST-I; Pawan Kumar Jain as PrADG, DGST, Kolkata; Satya Vir Singh as PC, CC (AR), Delhi with CC AR Delhi; Rajiv Bhushan Tiwari as PC, Bangalore Airport & ACC cus with Bangalore Cus; Ashok Kumar Pandey as PC, Nagpur-ICX with CC, Nagpur CX; Dharam Pal Singh as PC, Delhi ACC Import Cus; K K Kabirpanthi as PC, Ahmedabad-I, CX with additional charge of Ahmadabad CX; M Vinod Kumar as PC, Bangalore-I CX additional charge of Bangalore LTU with CC Bangalore CX; Piyush Kumar Patnaik as PC Mumbai ST-III with Mumbai ST; Madhu Mohan Damodar as PrADG WZU DG Vig Mumbai; Devendra Mishra as PC, ICD TKD Imp Cus Delhi; R Sekar as PC CC AR Mumbai; Sunil Kumar as Sawhney as Pr ADG, HRD, EMC Delhi; Sandeep Mohan Bhatnagar as PrADG, DGRI Delhi zone; Devendra Singh to Mumbai Cus-III ACC Imp Mumbai-III Cus zone; Harmeet S Singh as Pr ADG, NACEN, Faridabad; S Rajkumar as PC, MumbaiII CX; K Sekhar as PrADG, DG ST, Chennai; Talkeshwar Singh as PrADG DRI, Kolkata; Rajiv Tandon as PC Nhava Sheva II Cus Mumbai II Cus zone; M Ajit Kumar as Pr ADG, DGRI, Mumbai ZU; V Padmanabhan as PrADG, DGCEI, HQ Delhi; Chhitar mal Chandolia as PrADG DG Inspection, Delhi; Karnail Singh as PC Vadodara -II CX; Ghamman Ram Meena as PC, Ahmedabad ST; Wilson I Hangshing as PrADG, DG NACEN Kolkata; Kamal Jit choudhary as PC Ludhiana CX; Sushil Solanki as PrADG, DGCEI ZU Ahmedabad; Ajay Jain as PC, Ahmedabad Cus; Manoranjan K Virk as PC, Gurgaon-II CX; Gautam Bhattacharya posted to Pune ST; Bankey Behari Agrawal as PC, NOIDA Cus; Debi Prasad Dash as Pr ADG, DG Systems Delhi; Amrit Pal Singh Suri as PC Mumbai Cus-I AP, Mumbai III Cus zone; Ranjan Kumar Routray as PC, Chennai AP-I Cus; Prasanna Kumar Dash as PrADG, NACEN, Mumbai; C Rajenderan as PC, Vizag Custom House; Devendrea Singh as PC, Noida St; D P Nagendra Kumar as Pr ADG, DGCEI, Bangalore; Pullela Nageswara as Pr ADG, NACEN, Hyderabad; Sunder Lal Thakur as PC, Chandigarh-I CX; Ringzing D Negi as PrADG, DG Vig NZU, Delhi; Sharwan lal Meena as PC Jaipur CX; Sugan Lal Meena as PC, Indore CX; P Venkataraman Reddy as PC, Mundra Cus; Bijay Kumar as PC, Kolkata-I ST; Banibrata Bhattacharya as PC, Mumbai Cus Gen Mumbai-I Cus zone; Syed Hyder Hassan as PC, Mumbai II CX, Raigarh, Mumbai-II CX; Rakesh Kumar Sharma as PC, Rajkot CX; Kailash Chand Gupta as Pr ADG, DG Audit Mumbai ZU; K Raghu N Chary as PC, Chennai-VII, ACC Cus; Sungita Sharma as PC, Pune-II CX and A K Jyotishi was posted as PC, Mumbai Cus P Mumbai III Cus zone.



7 IRS-Customs officers transferred at CC/DG level (UPDATED)
As many as seven officers belonging to Indian Revenue Service of Customs and Central Excise cadre have been transferred at Chief Commissioner/Director General level. Accordingly, Sanjeev Behari has been posted to Mumbai-II, Customs while R P Raheja was appointed to Mumbai-I Customs and B K Bansal is DG, NACEN, Faridabad. Besides, Mahinder Singh has been appointed as DG Audit, Delhi; R K Mahajan to DGCEI, Delhi; S K Panda to Kolkata ST and Vinay Chhabra was posted as DG, Safeguards Delhi.

98 IRS-Customs officers transferred at Commissioner/ADG level (UPDATED)
As many as 98 officers belonging to Indian Revenue Service of Customs and Central Excise cadre have been transferred at Commissioner/Additional Director General level. Details at following link: http://www.cbec.gov.in/transfer_ord/trans-odr-2015/off-odr-127-2015.pdf

CORPORATE

Interview - Ashishkumar Chauhan

From trading under a banyan tree to PJ Towers

BSE Ltd, the 140 year old stock exchange that introduced equity culture in to India has come a long way from a group of brokers trading under a banyan tree to its office in the PJ Towers that is the most well-known symbol of Indian stock markets. Over the years, the exchange has transformed itself into a professionally run exchange, on par with the best, in the technology used.

Ashishkumar Chauhan, the Managing Director and Chief Executive Officer of the BSE in chat with Editor of Whisper in the Corridors, Sanjay Sharma , outlines his plans for the exchange and discusses on the recent developments in equity markets.

What is the road ahead for Bombay Stock Exchange like?

Any exchange has to figure out its role in the context of the society it operates in. The main issues before India today are improving manufacturing, creating jobs, improving defence and so on. The exchange, in that context, has to figure out, as a public utility, what role it wants to play. Whether it wants to do relentless incessant trading which benefited only to few or help channelise the savings of the economy in to industry and manufacturing.

Over the last 15 years exchanges have become more dependent on transaction volumes since they charge transaction charges and that has made them dependent on new derivative products. Internationally equity volumes have fallen 70 to 80 per cent since the financial crisis. Derivative volume fell but they have recovered and increased over last few years. Even in India most exchanges have transaction volumes as their main source of revenue. BSE has taken a call to work more on improving investment climate and instrument for investment vis- a vis trading and speculation.

We have 95 per cent market share listing in SME stocks. People ask me, "how is the volume on this platform?" There cannot be much volume on this platform as each company has only 100 to 200 investors. It is an investment product. Almost 95 to 98 per cent of offers for sale have been done through the BSE. In mutual fund platform too we have 97 per cent share. Our recent success in currency derivative is a case in point that BSE can compete in trading product also and successfully at that.

Do you think the SEBI - FMC merger is a game changer ?

BSE had already announced the plan to set up a commodity exchange last year prior to their announcement. In the mean time we have set up two companies, for commodity exchange and clearing corporation. Now this merger of FMC & SEBI has been announced. We are awaiting clarity on regulatory frame-work, whether it will be a new platform on existing exchanges or new exchanges need to be set up.

We see this as part of the implementation of the FSLRC recommendations; that has a much broader perspective. It is certainly a game changer. Practises in the commodity segment will become stream-lined and rationalised. Many market participants operate on both segments, many intermediaries use the same technology platforms for commodities and equity. There are therefore many advantages to the industry through this merger and also to investors. Minimum criteria for becoming a member, capital adequacy etc will be rationalized. It will become easier to understand the trading, clearing and settlement mechanism in the commodity segment after this merger. All these will have ramification for the long-run, for the better.

How will the new international financial centre being planned in the GIFT city work? You are going to set up a subsidiary there?

We are setting up a new exchange. The model is being worked out. We are still waiting for regulations relating to the Companies Act, taxation etc to be issued. Once the guidelines are out, BSE along with its partner, Deutsche Borse, will set up a new exchange and clearing corporation in the GIFT City. It will be a separate jurisdiction with separate taxation, legal frame-work and so on.

We have to start with capital of Rs 25 crore in the exchange and take it to Rs 100 crore over three years. Similarly for clearing corporation we have to take the networth to Rs 300 crore over three years. These are the guidelines laid down by SEBI.

It is an interesting opportunity for those who trade in Indian products in Singapore, Dubai , Europe and US. Many of them might want to trade on this offshore platform that offers greater flexibility. We may be able to bring back some volume and business. But the main purpose is to gather investment for Indian companies. Indian companies can raise equity as well as debt from this IFC.

How has the retail participation been of late?

It has improved a little. But it is a long way from where it should be. In 20 years of automation we have not really added any new investors although we have improved considerably on the transparency in trading, clearing and settlement. In some sense not having added new investors has been our failure.

We have not been able to reach out to the masses. We have to learn from the Jan Dhan experience. The perception that market is risky is the main draw-back. If you see over the last 140 years, we have offered only risky products - equity. In the last 15 years we have given riskier products - derivatives. We have not given risk-free products.

India saves about 30 per cent of its GDP but only 10 per cent comes to financial instruments. If we provide risk-free products to masses, they may not get enticed to get in to informal investment and finance channels. The government can do IPOs of government bonds on exchanges through offers for sale or other mechanisms where the cost of raising funds are extremely low. If we are able to offer risk-free instruments like government bonds to masses, we might take the market penetration from 2 to 25 per cent in the future. Government can also raise funds much more easily through markets than they can from banks.

SEBI has announced a new platform for start-up companies. Do you think it will work?

It will be an investment driven product because here too the lot size is going to be large. This is a constant dilemma that regulators and exchanges face - meeting the needs of an enterprise while protecting investors. Many of the small companies that raise money invariably do not succeed in the long run and get labelled as vanishing companies, as it happened in early nineties.

Post-1995, BSE and other exchanges decided not to have small companies approach the market and the listing criteria were tightened. But later the government realized that small companies also have legitimate needs to raise funds for their growth. So the SME platform was introduced. To protect small investors, the lot size was fixed at Rs 1 lakh so that very small investors do not buy the stocks and those who do have the wherewithal to understand the risk they are taking. Since this model was prepared it has been successful, with more that 100 companies listed on the SME platform, about 95 on the BSE itself.

The platform for start-ups is another step being taken in the same direction to allow a particular kind of company to approach the market but in such a way that their potential failure does not hurt investors. These are ways to help the company first go public and then help them migrate to the main platform. In that context the platform for high tech companies is a welcome step.

What are your thoughts on the call auction in illiquid stocks?

That has been almost removed. Earlier there were almost 2,200 stocks now only few stocks remain. This is mainly due to change in regulation. No liquidity has come in. In the same breath you should be asking the question whether there ought to be call auction on closing prices in liquid securities.

For me it is an interesting conundrum. All the mutual funds value their NAV at the closing price. The derivatives are also valued at closing price. There have been several issues reported there. To arrive at the right closing price, closing call auction on closing prices can be used.

Mathur resigns as Director (Finance) & CFO of Bata India Ltd
Ranjit Mathur has resigned as Director (Finance) and Chief Financial Officer of Bata India Ltd

Gupta appointed Director (Finance) & CFO of Bata India Ltd
Ram Kumar Gupta has been appointed as Director (Finance) and Chief Financial Officer of Bata India Ltd

Saravanan appointed Director (Technical) of Madras Fertilizers Limited
Madras Fertilizers Limited has appointed U Saravanan as Director (Technical) of the company.

Mahajan appointed CFO of Shilpi Cable Technologies Ltd
Shilpi Cable Technologies Limited has appointed Ajay Mahajan as Chief Financial Officer of the company.

Lal resigns as Independent Director of Gateway Distriparks Ltd
Ms Chitra Gouri Lal has resigned as Independent Director of Gateway Distriparks Limited

Sarma appointed MD & CEO of L&T Hydrocarbon Engineering
Subramanian Sarma has been appointed as Managing Director and Chief Executive Officer of L&T Hydrocarbon Engineering

Malla appointed GM of Four Points by Sheraton, Vishakhapatnam
Aditya Shamsher Malla has been appointed as General Manager of Four Points by Sheraton, Vishakhapatnam

(The views expressed in this column are of the contributors. We do not owe any responsibility, whatsoever, of the views of our surfers as they are their personal opinion. However, we would also request our contributors not to be personal, directly or indirectly, in presenting their views. Instead of countering the views which ‘X’ has already expressed, our contributors are advised to present their own views. Also be brief, say about 200 words at the most since any views longer than that if eliminated at our end would carry the risk of the contrbutor’s item losing its original essence)

"A suggestion to PM "

PM Modi is an eloquent speaker, very inspiring and patriotic.He speaks extempore, unlike his illustrious predecessor. Time limitation is the casualty. Modi could refrain from making long speech on August 15. A 30 to 45 minute address should suffice. Pity the audience: the captive school children and bureaucrats. The diplomatic corps sitting in a humid , hot morning is surely outside their comfort zone.

A K Saxena (A retd. civil servant)

Corruption and singling out of one service

No doubt that corruption must be eradicated but only by hitting one service of the IRS its not going to go. The whole world knows that maximum power begets maximum corruption and the most corrupt on this analogy is none but the all powerful IAS. The commissioners of customs and income tax are arrested on drop of a hat but those who embezzled billions in MP and CG are not even suspende. One example is the scandal of Chhattisgarh where not a single IAS has been arrested or suspended. Please do not give an impression that corruption is only in the central govt.

Sunil

Sometimes man proposes and man only disposes

Man proposes and God disposes. But this is not going to happen in one case Veerapa Moily was the Chairman of the second administrative reforms commission. In the 4th report on 'Ethics in governance' the commission had made recommendations on the subject of 'benami transactions'. Now the Government is framing a benami transaction proposal and the Chairman of Standing Committee of Parliament on the subject is Veerappa Moily. Man proposes and man disposes.

BBS

Anonymous complaints

If all complaints are investigated, regardless of whether they are anonymous/ pseudonymous or not, it will be a very useful handle to harass honest officers, judges and Ministers. Any unscrupulous person would need to do little but threaten a false complaint. Honest persons would not like to go through the harassment of false complaints etc. and might do their bidding. The dishonest are not really scared of false complaints (because they know that there would be true, signed complaints against them anyway), the honest are. If one is pulled up by one's superiors, one may get one's revenge very easily and quickly, by simply filing an anonymous false complaint against one's superior. Hundreds of anonymous false complaints could be filed against one person by only one person! If one does not like one's neighbour, one may file an anonymous false complaint against him to settle scores. Political opponents will file thousands of false complaints anonymously against each other. Criminals will file false anonymous complaints from jail against judges who hand them sentences. What an idea Sirjee!

Vijay Kumar

Post of CBSE Chairman vacant ?

Sometime back there was a news that Dr. Satbir Silas Bedi's name for Chairman, CBSE was sent to ACC for approval. Hope this is cleared soon as the post has been vacant for more than ten months.

S Gopal

DATE WITH RTI

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