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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 (44)
According to the lawyers of those days, the Emperor had absolute authority. His will was law. "The Emperor is the living law upon earth," they said.

Corporate World satisfied with Modi govt strategy !
With the Modi government learnt to be making a long term plan for the resumption of the sector, the Corporate World seems to be satisfied with the government strategy. Their representatives can be heard saying, "It will take time to revive."

Meaning of Tamil Nadu politics?
Why CBI has suddenly initiated action against leaders of a political party of TN ? If observers are to be believed,assembly elections in TN are due next year and ruling party could get mileage if opposition party's maximum leaders are in jail.

Why Coal India CMDs only from Telangana ?
Wha is the relation between Coal India and Telangana ? CMDs of Coal India being appointed these days, surprisingly enough, are only from Telangana. For instance, while present CMD Sutirtha Bhattacharya is a 1985 batch IAS officer of Telangana cadre, his predecessor S Narsingh Rao was 1986 batch IAS officer of Telangana cadre. Rao is presently Principal Secretary of Telengana CM.

Public sabh jaanthi hai..
Loss after loss for Congress !!
Now all its does is digress !!

Rather than contemplating on its haar!!
Congress is repeating baar baar!

BJP lost in Raje's constituency!!
Here too no consistency!

Sometimes they say Sonia won!
Sometimes by Lalit in BJP was done!!

Fact is loss in Raje constituency means!
That in the election BJP used no unfair means!

And Raje was busy with State's affairs!
And her electorate felt for us she no longer cares!

So in this election they sent her a note!
Humm bhi hai they reminded her via their vote!

But Congress will not say !!
Why to them electorate is saying nay!

They are busy criticising the victor!!
Some would say should see a Mental Doctor!!

In MP too Congress got a beating! !
'Maare gaye' is within Congress shoukd be the new greeting !!

Next Bihar !
Jaha abh pucca hai Nitish and gang ki haar!

After Modi's speech Laloo paglaa gaya!
Ya firr zyaada dose Kheni ka liya!

Rahul Baba lagtha hai abh firr chutti pe jaaye ge!!
Maheene ke baad aaye ge!!

Congress bolle gi ... thinking!
Of course privately when they say it they will also be winking!


Samjhao ... Public sabh jaanti hai!!!
Usse bollo ki Public abh usse flop maante hai!!

VJS

BUREAUCRACY

Guidelines for selection of MD & CEOs in PSU Banks
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.


13 IPS officers to retire in August
As many as 13 IPS officers are to retire in August 2015. The officers are: B Bala Krishan of Andhra Pradesh cadre; V V Chaudhary of AGMUT cadre; Rajendra Kumar Sharma and Prit Pal Singh of Assam-Meghalaya cadre; Satyendra Kumar, Laik Ram Dabas of Haryana cadre; P Lal Gupta of Jammu and Kashmir cadre; Ravindra Prasad of Karnataka; B B S Thakur, M P Dwivedi of Madhya Pradesh cadre; G Vicashe Sema of Nagaland cadre; Paramjit Singh Gill-I of Punjab and Surya Nath Singh of Uttar Pradesh cadre.


Ashwini Lohani is new CMD, Air India
As predicted, this time IAS officer has not been appointed CMD of Air India. Former Chairman of ITDC and presently MD and Commissioner of MP Tourism Development Corporation, Ashwani Lohani has been made CMD. He belongs to Indian Railways Service of Mechanical Engineers (IRSME).

Tenure of Venkataramana as Additional Secretary, Atomic Energy extended
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
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.

Appointment process of Bank EDs yet to start
The appointment process of Bank EDs is yet to start by the GoI. At present there are three vacancies.

158 IAS officers of 2013 batch posted as Asst. Secretary in GoI
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 Secretaries for a period of three months in various Ministries of Government of India on central deputation.

http://ccis.nic.in/writereaddata/CircularPortal/D2/D02eod/Appt-IAS-2013.pdf

Mystery behind no annual Press Conference in BHEL
What could be the reason that there has been no Press Conference in BHEL - both at the Corporate office level and respective units level - for the past two years. Is it to avoid questions by mediapersons that can put the Maharatna in an awkward situation.

Three CISF IPS officers empanelled as IG
Three IPS officers posted in CISF have been empanelled as IG. They are Jaideep Prasad, MP cadre, Ritu Arora, Odisha cadre and Aanand Mohan, AGMUT cadre. They all belong to 1995 batch.

Loku empanelled as IG
Ravi Joseph Loku presently DIG , BSF has been empanelled as IG. He is a 1995 batch UP cadre IPS officer.

M F Farooqui empanelled as IG
Punjab cadre IPS officer M F Farooqui of 1995 batch has been empanelled as IG. Presently he is DIG, BSF, in Punjab.

Kulshreshtha will become IG
Anupam Kulshreshtha, an IPS of UP cadre has been empanelled as IG. Anupam, who is a 1995 batch officer is presently posted as DIG, CRPF Hq.

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

Tenure of Manoj Kumar as CVO, CIL extended
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 up to July 2, 2017. He is a 1990 batch IAS officer of MT cadre.

GC Manna is also ADG, FOD, NSSO
GC Manna, ADG, ESD, has been assigned an additional charge of ADG, FOD, NSSO during the absence on leave of Mrs Amarjeet Kaur up to August 28, 2015. He is an ISS officer.

S S Ahuja appointed OSD in CBEC
Indian Revenue Service officer of Customs and Central Excise cadre, S S Ahuja has been appointed OSD in Drawback Division of Central Board of Excise & Customs.

Dr Lalaiah Dhandem promoted as Joint Commissioner of Customs
Indian Revenue Service officer of Customs and Central Excise, Dr Lalaiah Dhandem has been promoted to the grade of Joint Commissioner of Customs and Central Excise.

Where to draw the line ?
The recent arrest of a businessman and two Customs officers, has the makings of opening of the so called Pandora's Box. The businessman who runs a chain of niche International Schools in India, was feted and fawned upon by high and mighty: Reason, admissions, and jobs for wives of senior bureaucrats. The AAP government in Delhi may well pick up the corruption angle to look into favours done and received by the Management of the schools, now facing charges of fraud and corruption.

Dr Likhi to succeed Rao as CMD, MIDHANI on Sept 1
Dr DK Likhi, Director (P&M), Midhani, will be joining as Chairman and Managing Director (CMD) of Mishra Dhatu Nigam Limited (Midhani) on September 1, 2015. He will succeed M Narayan Rao who retires on August 31, 2015.

60 posts of IPS officers vacant in Maharashtra
More than 60 posts of Indian Police Service (IPS) officers have been lying vacant in Maharashtra cadre.

Lt Gen Singh to head Western Command
Lt General Gurdeep Singh has been appointed Chief of Staff, Western Command, Chandimandir. Prior to this he was Commandant, Infantry School, Mhow.

Lt Gen Menon moves to Engineers Training College
Chief of Staff Western Command Lt General Venugopal Menon has been moved as Commandant of an Engineers training college.

Chahar moves to BSF Headquarters
IG, Special Operations, BSF, in Chhattisgarh, S S Chahar has been moved to the BSF Headquarters. P Sitharama Anjaneyulu will succeed him in Chhattisgarh. He is 1992 batch IPS officer of Andhra Pradesh cadre.

Choubey is new IG Frontier in BSF
IG (Force) in BSF Headquarters K N Choubey has been transferred as IG Frontier in West Bengal. He is 1986 batch IPS officer of Jharkhand cadre.

Post of Joint Secretary, Power to fall vacant in Sept
The post of Joint Secretary is falling vacant in the Ministry of Power in September 2015.

Vacancy of ADGFT, Mumbai in Sept
The post of ADGFT, Mumbai at Joint Secretary level is falling vacant in the Department of Commerce in September 2015.

TPS Rawat posted as Second Secretary, US South
Indian Foreign Service officer, TPS Rawat has been appointed as Second Secretary, US South.

Anil Matta appointed as First Secretary, Jeddah
Indian Foreign Service officer, Anil Kumar Matta has been appointed as First Secretary, Jeddah.

Banks will remain closed on II & IV Saturdays
The Indian banks, which are getting half-days workings on Saturdays, will now remain closed on second and fourth Saturdays of every month as public holidays with effect from September 1, 2015.

69 IRS-Customs officers transferred at PC/PrADG level
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
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
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

Manish Shankar Sharma posted as IG, SAF in MP
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
Dr Pankaj Jain has been appointed as SDO, Revenue, Dabra in Gwalior in Madhya Pradesh. He is a 2012 batch IAS officer.

Kishore Das posted as Deputy Director, Railway Stores, Kolkata
Kishore Kumar Das, Senior Material Manager, Eastern Railway, has been transferred to Railway Board and posted as Deputy Director, Railway Stores (I&S), Kolkata.

Tenure of Rohit Nandan as CMD, Air India Ltd extended (UPDATED)
The central deputation tenure of Rohit Nandan as CMD, Air India Limited, has been extended for a period of one month with effect from August 21, 2015. He is a 1982 batch IAS officer of UP cadre.

Tenure of Vinod Zutshi as DEC in ECI extended (UPDATED)
The central deputation tenure of Vinod Zutshi as Deputy Election Commissioner in Election Commission of India, has been extended for a period of one month with effect from August 23, 2015. He is a 1982 batch IAS officer of Rajasthan cadre.

Tenure of Avinash Srivastava as Addl Secretry, Agriculture extended (UPDATED)
The central deputation tenure of Avinash Kumar Srivastava as Additional Secretary, Department of Agriculture & Cooperation, has been extended for a period of one month with effect from August 22, 2015. He is a 1982 batch IAS officer of UP cadre.

Vishal Kapoor deputed as Director, Power (UPDATED)
Vishal Kapoor has been deputed as Director in the Ministry of Power in Government of India. He is a 1995 batch IRSME officer.

SBI organizes ‘Banking & Economics Conclave’ 2015 (UPDATED)
State Bank of India (SBI) today successfully concluded the 2nd SBI Banking & Economics Conclave 2015. This Conclave was organized with an intention to stimulate debate and critical thinking on various topic related to banking industry in India. The Conclave was inaugurated by Hon. Minister of Finance Arun Jaitley and Minister of State, Finance Jayant Sinha. The Conclave was graced by dignitaries from a wide spectrum of business activity like banking, financial institutions, corporate, law and Government. The high and mighty of Indian corporate - Baba Kalyani, Kiran M Shaw, Ms Chanda Kochhar; Justice (Retd.) A K Ganguly from judiciary, Amitabh Kant, Secretary, DIPP and others graced the occasion on Second day. Chairman SBI in her opening tête-à-tête session with RBI Governor, Dr Raghuram Rajan discussed various issues like payment banks, state of the economy, etc. The Governor in turn emphasized on project evaluation and structuring by banks, issues of HR in banking such as providing higher compensation to top management and its impact on costing. Can ESOPs help retain talent in public sector banks was also discussed.

NBCC inks MoU with NIT (UPDATED)
Dr Anoop Kumar Mittal, CMD, NBCC, Prof. Ajay K Sharma, Director, National Institute of Technology (NIT), Delhi and N P Aggarwal, Executive Director, NBCC, poses with MoU documents after signing on August 12, 2015, for Development of Permanent Campus of National Institute of Technology at Narela, Delhi. Also present on the occasion were Directors of NBCC and other senior officials of NIT and NBCC. It may be mentioned that NBCC has been executing number of projects for various NITs and IITs all across the country.

No leave for 158 trainee IAS officers (UPDATED)
All the 158 trainee IAS officers of the 2013 batch posted as Assistant Secretaries in the Government of India for three months will not be given any kind of leave. Their record of this period will be mentioned in their service book.

Inderjit Kapoor joins as Tech Member, APTEL (UPDATED)
Inderjit Kapoor, former Director (Commercial) NTPC, has taken over the charge as Technical Member, Appellate Tribunal for Electricity (APTEL), New Delhi for a period of three years.

Dr Anil Kumar is also ADG, Forest in Environment (UPDATED)
Dr Anil Kumar has been assigned an additional charge of Additional Director General of Forest (FC) in the Ministry of Environment, Forest and Climate Change. He is a 1980 batch IFS officer of MT cadre.

Sanjiv Kumar appointed as Deputy Secretary, DoPT (UPDATED)
Sanjiv Kumar presently in North Central Railway has been deputed to the Department of Personnel and Training (DoPT) as Deputy Secretary in Government of India for a period of four years. He is an IRPS officer.

N V Raman Reddy repatriated to parent cadre (UPDATED)
N V Raman Reddy, who was on deputation to Andhra Pradesh Government as Special Secretary, GAD, has been repatriated to his parent cadre: Ministry of Railways. He is a 1986 batch IRPS officer.

B K Thacker appointed as Director, Fire Prevention Services in Gujarat (UPDATED)
B K Thacker has been appointed as Director, State Fire Prevention Services, Gandhinagar in Gujarat. He is an IAS officer of Gujarat cadre.

23 IPS officers transferred in Delhi Govt (UPDATED)
As many as 23 IPS officers have been transferred and posted at different places in the Government of Delhi. Accordingly, A K Ojha has been appointed as Addl CP, Traffic while Ajay Kumar was made Addl CP, Security and Bhairon Singh Gujjar is being appointed as DCP, East district. Similarly, K K Vyas has been appointed as DCP, Special Branch; Suvashis Choudhary was appointed as DCP, Licensing; Brahm Singh as DCP 1Bt, DAP; N Ganasambadan as Vice Principal, PTC; Brija Kishore Singh as DCP, Security; Vijay Singh as DCP, North West district; Rishi Pal as DCP/L&B; M N Tiwari as DCP, Security PM; Omvir Singh as DCP, Anti-Corruption Branch; Dumbere Milind Mahadeo as DCP, Railways; Jatin Narwal as DCP, New Delhi district; Surender Kumar as Addl DCP-I, South district; R Sathiyasundaram as Addl DCP-I, New Delhi district; Mrs Sweta Chauhan as DCP, Traffic; Deepak Gauri as DCP, Traffic; Ghanshayam Bansal as Addl DCP-I outer district; Pranav Tayal as Addl DCP-II, South; Sanjay Kumar Sain as DCP, Traffic, Ms Amrutha Guguloth as Addl DCP-I, North West district and Manoj C was made DCP, Traffic.

12 DANIPS officers transferred in Delhi Govt (UPDATED)
As many as 12 DANIPS officers have been transferred and posted at different places in the Government of Delhi. Accordingly, Pramod Singh Kushwah has been appointed as DCP, Special Cell while Sanjay Bhatia was made as Addl DCP-II, South District and Ashok Malik will be Addl DCP-II/ West District. Similarly, Dinesh Kumar Gupta as DCP/IGI Airport; Sanajeev Yadav as Addl DCP-II/New Delhi; Mohd Irshad Haider as DCP, EOW; Deotosh K S Singh as DCP, Security; R P Meena as Addl DCP-II, North West district; Rajiv Ranjan as DCP, EOW; Mohammed Ali as Addl DCP-II/North East District; B L Suresh as Addl DCP-III, South West District and Dr Rajiv Sharma was made DCP, Crime.

Vatsalya Saxena appointed as DDG, DG Shipping office (UPDATED)
Vatsalya Saxena has been appointed as Deputy Director General at Director level in the office of Director General Shipping under the Ministry of Shipping. He is a 1994 batch IRS-IT officer.

Jose Kumar Rozario deputed to CRIS as Manager (UPDATED)
Jose Kumar Rozario presently in Western Railway has been deputed to CRIS as Manager/EPS, at New Delhi. He is an IRSS officer.


Amit Gupta deputed to RITES as GM, Mumbai (UPDATED)
Amit Gupta presently in East Central Railway has been deputed to RITES as General Manager Civil at Mumbai. He is an IRSE officer.

Subhash Chand Gupta deputed to RITES as GM, Gurgaon (UPDATED)
Subhash Chand Gupta presently in South Eastern Railway has been deputed to RITES as General Manager, at Gurgaon. He is an IRSE officer.

Justice Ajit Singh appointed as Chief Justice, Rajasthan HC (UPDATED)
Justice Ajit Singh, senior-most Judge of Rajasthan High Court, has been appointed as Chief Justice of Rajasthan High Court.

Gauhati High Court gets 3 Additional Judges (UPDATED)
Nishitendu Chaudhury, Lanusungkum Jamir and Manash Ranjan Pathak have been appointed as Additional Judges of the Gauhati High Court, for a period of three months.

Vijay Kumar promoted to IG rank in Telangana (UPDATED)
Vijay Kumar has been granted proforma promotion to the rank of Inspector General of Police in Telangana. He is a 1997 batch IPS officer of Telangana cadre.

D S Chauhan promoted to IG rank in Telangana (UPDATED)
D S Chauhan has been granted proforma promotion to the rank of Inspector General of Police in Telangana. He is a 1997 batch IPS officer of Telangana cadre.

S P Vasudeva gets premature repatriation to his parent cadre (UPDATED)
S P Vasudeva, Project Director, Project Management Unit of National Cyclone Risk Mitigation Project (NCRMP), National Disaster Management Authority (NDMA), has been given a premature repatriation to his parent cadre. He is a 1992 batch IFS officer of HP cadre.

B Nagya appointed as CFTM, SWR (UPDATED)
B Nagya presently has been posted as Chief Freight Transportation Manager (CFTM), South Western Railway (SWR). He is an IRTS officer.

A S Rao posted in the cadre (UPDATED)
A S Rao, CFTM, South Western Railway has been posted in the cadre itself. He is an IRTS officer.

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.

Jain re-appointed CMD of Jain Studios Ltd
Jain Studios Ltd has re-appointed Dr J K Jain as Chairman and Managing Director of the company w.e.f. October 1, 2015

Ms Mehta appointed CEO of Relish Pharmaceuticals Ltd
Relish Pharmaceuticals Ltd has appointed Payalben Sujay Mehta as Chief Executive Officer of the company.

Joshi designated CEO (News) of Network18 Group
Network18 Media & Investments Limited has designated Rahul Joshi as Chief Executive Officer (CEO) (News) of Network18 Group

Raju appointed CFO of Ecoboard Industries Ltd
Ecoboard Industries Ltd has appointed G P K Raju as a Chief Financial Officer (CFO) of the company

Gautam appointed CS of Jenson & Nicholson (India) Ltd
Jenson & Nicholson (India) Ltd has appointed Yogesh Kumar Gautam as Company Secretary of the company.

Ms Mehta appointed CFO of Axis Capital Markets India Ltd
Axis Capital Markets India Ltd has appointed Ms Radhika Mehta as Chief Financial Officer (CFO) of the company.

Shedge appointed CS of Garware Marine Industries Ltd
Garware Marine Industries Ltd has appointed Ms Pallavi P Shedge as the Company Secretary of the company.

(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)

Lohani, best choice for AI CMD
Ashwani Lohani is one of the best choices for this important job. It is a matter of time that Air India will see a paradigm shift. If past results of achievements are any indication, Lohani is likely to make Air India a profitable organization. An admirable decision to appoint him as Air India, CMD.
Dr G G Saxena

Lohani best choice
An excellent choice. A seasoned person with positive and practical approach to problems and issues. Possessing in abundance innumerable virtues-difficult to be found in any single person. His positioning as ED is sure to take this organisation to much greater heights. Wish him all the very best in his, not new, but slightly elevated, but definitely more challenging assignment.
Abhinav

Bihar's prospects
What are the prospects of Bihar? I use the term prospects of Bihar, because ultimately, the fate of Bihar will depend on the outcome of Bihar elections. On the one hand is Nitishji with Laluji (supported by Arvind Kejriwalji, the anti-corruption crusader of yore; strange bedfellows power politics makes for; Laluji and Arvind Kejriwalji together in common cause!) and the Congress (again, the same Congress whose alleged corruption made a crusader and later a Chief Minister, out of Arvind Kejriwalji) and on the other hand is the BJP with its allies like Ram Vilas Paswanji, Upendra Kushwahaji and Jiten Ram Manjhiji. Lalu's vote bank is the most powerful and reliable. The MY combine has ruled the state for 15 years and remains the most potent single force in Bihar. It is what makes Nitish Kumar's heartache for Laluji (one must remember that Laluji and Nitishji fell out for power and again joined hands for power). Nitish Kumarji is aware that he cannot do it alone in Bihar with his 4% vote bank. Laluji knows that Nitishji needs him now, as he had needed other allies in the past (but for Nitishji's Prime Ministerial ambition leading to anti-Modi sentiment in Nitishji's bosom, this election could have ended Laluji's career comletely). However, dalits and mahadalits may vote decisively on D-Day. It helps that Modiji is also an EBC in terms of Bihar castes. Both Nitish and Lalu are clever and politically savvy. They are also unlikely to bury the hatchet immediately. Each will keep looking over the shoulder for a possible double cross. The BJP might be banking on a possible rift between Laluji and Nitishji, especially since the cadres of their respective combines may take a little more time to reconcile to each other than their leaders. Nitishji has two things in his favour in the tango with Laluji, Laluji's health is a bit suspect and he has been convicted. Laluji, seeing that Nitish is fully capable of giving him the slip later, has his friends in the Congress and now relative Mulayam Singhji (another wily old fox) to bank upon in that scenario. The BJP too has its hands full. A loss in Bihar may rob the PM of charisma (which is Arvind Kejriwal's hope, the Varanasi defeat still rankling), it may lead to more questioning voices in the party and might give other parties much needed relief from the walloping they got in the 2014 polls. If the Laluji, Nitishji and Arvind Kejriwalji combine along with the Congress do win, Bihar's development story may go in any direction. Law and Order would also be interesting to watch, so would property prices in Bihar, which could quickly head southward. In case of a BJP led combine win, there would be a race for Chief Ministership. The PM does have plans for Bihar. Others do not have plans for Bihar, but do have plans for countering Modi. The caste-ridden society that Bihar is, it would be difficult to ignore caste equations, but just maybe, the aspirational youth has a different take on elections. Nitishji has roped in the media team that helped Modiji win 2014. How much that team will help Nitishji remains to be seen. For a benighted state like Bihar and the Eastern part of India, these are crucial elections. They might make or mar Bihar and their impact would be felt in India for a long time to come.
AK Singh


Much ado about nothing
Just heard that the IAS Association of Chhattisgarh state took a delegation to the CM's house and complained that since the anti corruption bureau is harassing them they can't function. Wow. Just two show cause notices to two IAS officers in a scam of colossal scale, one red handed trap of an IAS probationer and they are on the streets. In the history of this state not a single IAS, IPS officer's house has been raided by the ACB nor a single arrest of any IAS has been made still this hue and cry.
All of them must be issued license to indulge in whatever they want.
Now think of the central services. Hum aah bhi karte hain to ho jaate hain badnaam, wo qatl bhi karte hain to charcha nahi hota. - Akbar Allahabadi
Sunil


No time to assess truth
People have no time to assess truth. Double standard is ethos of governance. Whispers could be precursor of what will happen. But time is puppeteer making all dance.
Rebat Pal

Corruption and govt.
Corruption and government are synonymous. The feeling among not only the general public, but also among the employees is that there is no reduction in the levels of corruption in all government offices. There is no need for considering anonymous or pseudonomous complaints if the monitoring system effectively functions. There are PAOs, AG offices, own DDO who are supposed to check corruption and misappropriation. The worst fact is that nobody does his job perfectly and in some cases they collude with others to swindle money. There is a joke. Kaun Banega Crorepati ? If someone becomes Head of Office and also has DDO powers, he can become a Crorepati in Govt. of India within a short span of 5 to 10 years, that too after leading a luxurious life. There are a lot of examples. Who is going to change the trend, the rulers or the bureaucracy ? The answer is none
Sivakumar

Proper investigation must
It is true that the CVC and the whistleblower act is there to blow up the lid of corruption. But still it fails to protect the whistleblower when the question is there the complaint is made against his/her higher ups. Therefore, in the interest of the country and to protect the complainant, it is very much urged that all anonymous complaints should be properly investigated so that the axe should fall in the root of the corruption and not only in the braches.
Jootavala


No land of law in MOS &PI
All transfer of India Statistical Officers (ISS) officers and Subordinate Statistical Service (SSS) officers are being transferred without any transfer policy. As per instructions contained in DoP&T OM No. 11013/10/2013-Estt.A 02-07-2015 it is mandatory for the cadre controlling authority to place transfer policy in public domain before issuing any transfer order. Whether, Minister of DoP&T will interfere in the matter.
Nath (retired senior Govt. officer)

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