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♦ Ravneet Gill is the new MD and CEO of Yes Bank
- Reserve Bank of India (RBI), on Thursday, has approved Ravneet Gill as the new Managing Director and Chief Executive Officer (CEO) of Yes Bank.
- “The Bank has received RBI approval for its new MD & CEO, Mr. Ravneet Singh Gill for him to join on or before March 1, 2019,” the bank said in a statement. Yes Bank’s current MD Rana Kapoor’s term ends on January 31. Mr Gill is the India Chief of Deutsche Bank now.
- The Board will convene on January 29, 2019 to finalise the interim transition, the bank said.
♦ Piyush Goyal named interim Finance & Corporate Affairs minister
- Railway Minister Piyush Goyal has been given additional charge of Finance and Corporate Affairs ministry in view of indisposition of Arun Jaitley, an official release from the Rashtrapati Bhavan said Wednesday.
- President, as advised by Prime Minister Narendra Modi, directed that during the period of Jaitley’s indisposition, the portfolios of the Minister of Finance and the Minister of Corporate Affairs, held by him, be temporarily assigned to Goyal, in addition to his existing portfolios.
♦ IndiGo appoints Ronojoy Dutta as CEO
- Aviation veteran Ronojoy Dutta was appointed CEO of Interglobe Aviation, which operates IndiGo, the country’s biggest airline by number of passengers. Dutta had been appointed principal consultant and tasked with drawing up a five-year business plan for the carrier, ET reported on December 5, adding that he was a top contender to head the carrier.
- IndiGo also announced the appointment of former Securities and Exchange Board of India (Sebi) chairman M Damodaran as chairman of the board and non-executive independent director. Both appointments are with effect from January 24.
- Dutta was president of United Airlines between 1999 and 2002 and is a former colleague of IndiGo cofounder Rakesh Gangwal. He succeeds Aditya Ghosh, who quit eight months ago and has since joined Oyo. Cofounder Rahul Bhatia had served as interim CEO in the intervening period.
♦ ISRO’s first mission of 2019 to put military satellite Microsat-R in space
- Just before midnight on Thursday, Indian Space Research Organisation’s first mission of 2019 will put into space a 740-kg military imaging satellite, Microsat-R.
- ISRO has shied away from sharing details of the spacecraft or its uses as it does routinely each time during its missions; except to say the satellite would be placed within 15 minutes after take-off in a polar orbit 274 km away from Earth.
- This is much lower than any of its civil Earth observation spacecraft, which fly pole to pole over the globe at between 400 km and 700 km.
- According to information obtained from different sources Microsat-R and its payload come assembled from a handful of laboratories of the Defence Research and Development Organisation (DRDO) and is meant for military use. The satellite was “assembled outside and ISRO only interfaced it” with its own systems and the launch vehicle, just as it treats any customer satellite.
- C-44 will be launched around 11.30 p.m. from the older First Launch Pad at the Satish Dhawan Space Centre, Sriharikota.
♦ 10% quota in Central government recruitment from February 1
- Beginning next month, all Central government posts will be filled after factoring in the recently approved 10% reservation for economically weaker sections (EWS), according to an official order.
- The Ministry of Personnel said in the order that detailed instructions on the procedure for the implementation of the EWS quota would be issued separately.
- “It is hereby notified that 10% reservation would be provided for economically weaker sections in central government posts and services and would be effective in respect of all direct recruitment vacancies to be notified on or after February 1, 2019,” it said.
- The Constitution (124th Amendment) Bill to provide 10% reservation in jobs and education to the poor in the general category was passed by Parliament on January 9.
- “Persons who are not covered under the existing scheme of reservation for Scheduled Castes, Scheduled Tribes and socially and educationally backward classes and whose family has gross annual income below ₹8 lakh are to be identified as EWSs for the benefit of reservation,” according to an order by Ministry of Social Justice and Empowerment.
♦ CBI files case against former ICICI Bank chief Chanda Kochhar
- The CBI has booked former ICICI bank CEO Chanda Kochhar, her husband Deepak Kocchar and Videocon group MD Venugopal Dhoot for alleged cheating and corruption in sanctioning loans to the company, which caused a loss of Rs 1,730 crore to the bank, officials said Thursday.
- Some top names in the banking industry – present CEO of ICICI bank Sandeep Bakshi, Sonjoy Chatterjee, Zarin Daruwala, Rajiv Sabharwal, K V Kamath and Homi Khusrokhan – have also come under the scanner as they were part of the ICICI bank committees clearing some of the six loans worth Rs 1,875 crore given to the Videocon group and associated companies, they said.
- Following the registration of the FIR late Wednesday night, the agency officials swooped down at four locations in Mumbai and Aurangabad early morning Thursday — offices of the Videocon group, Nupower Renewables — the company run by Deepak Kochhar and Supreme Energy — once promoted by Dhoot.
- The agency had registered a preliminary enquiry on the allegations that Rs 3,250 crore worth of loans were sanctioned by the bank to companies associated with the Videocon group in violation of the laid-down norms.
♦ Pandya, Rahul’s suspension lifted with immediate effect by CoA
- The suspension of Indian cricketers Hardik Pandya and K.L. Rahul was on Thursday lifted by the Committee of Administrators (CoA) two weeks after the duo was sent home from the tour of Australia following sexist comments they had made on a TV show.
- The CoA, after consulting new amicus curiae P.S. Narsimha, decided to lift the suspension pending an inquiry, for which an ombudsman is to be appointed by the Supreme Court. The apex court has listed the matter tentatively for February 5.
- “The above matter and decision has been taken with the concurrence of the Learned Amicus Curiae, Mr. P.S. Narasimha. In view of the above, the suspension orders dated 11.01.2019 is immediately lifted pending appointment and adjudication of the allegations by the BCCI Ombudsman,” read a statement of the CoA, issued by the BCCI.
- Pandya is now expected to join the team in New Zealand while Rahul might play in either the domestic circuit or show up for India A in an ongoing home series against England Lions.
♠Vocabulary (The Hindu)♠
- INORDINATE (ADJECTIVE): Undue : (असामान्य)
Synonyms: pricey, steep
Antonyms: cheap, moderate
Example: The case had taken up an inordinate amount of time.
- EGRESS (NOUN): Departure : (निकास)
Synonyms: emanation, exiting
Antonyms: entrance, arrival
Example: They hinted at the direct means of access and egress for passengers.
- ENGROSS (VERB): Bewitch : (मोहित करना)
Synonyms: captivate, enrapture
Antonyms: disenchant, disgust
Example: Yesterday Prakash engrossed everybody at the party.
- NERVE (NOUN): daring (साहस)
Synonyms: courage, grit
Antonyms: cowardice, timidity
Example: Shruti has a nerve to do it.
- EMBARK (VERB): commence (आरंभ करना)
Synonyms: enter, launch
Antonyms: cease, end
Example: Vikash embarked his journey.
- IMP (NOUN): brat (शैतान)
Synonyms: gnome, minx
Antonyms: angel, elf
Example: Ankit is a big imp.
- YEOMAN (NOUN): (स्वेच्छा सेवी):worker
Synonyms: assistant, attendant
Antonyms: boss, manager
Example: The yeoman was plowing the field on his master’s land.
- YORE (NOUN): (बीता हुआ समय):time gone by
Synonyms: history, antiquity
Antonyms: future, present
Example: In the days of yore, the Internet did not exist.
Filler Based on The Hindu editorial
Sedition and politics: on the charge-sheeting of JNU students
The filing of sedition and conspiracy charges against three former Jawaharlal Nehru University students and seven others nearly three years after a political event on its campus, is a needlessly heavy-handed response to campus sloganeering. That it took so long to ready a charge sheet, which has been filed a few months ahead of the general election, casts a shadow of political motive. It would have been far wiser to dismiss this as an instance of radicalised student politics than proceed against them with a stringent colonial-era law, which should not have been allowed to even remain in the statute book. There is no convincing case that the students, and the others present, disrupted public order or incited violence. Even if all the charges about the shouting of “anti-national” slogans and supporting those who questioned the country’s sovereignty were true, these acts do not merit the use of the sedition law. The Delhi Police had arrested JNU student union leader Kanhaiya Kumar in February 2016, but failed to protect him from assault while being produced in court; it did nothing to bring to book his assailants. Now, in filing formal charges of sedition, it continues to ignore the law laid down by the Supreme Court on what constitutes ‘sedition’. The essential ingredients of Section 124A of the Indian Penal Code, that there should be a call for violence or a pernicious tendency to foment public disorder, are conspicuously absent in the case.
Campuses on which radical politics thrives are anathema to the ruling dispensation. However, that cannot be a justification for the sort of fear-mongering about the direction of campus politics that the ruling party and its supporters have been indulging in since the developments of 2016. Campuses ought to nurture political opinions of different shades, but there has been a disquieting tendency to brand as “anti-national” those who do not endorse all actions of the state. That the ABVP, the student wing of the RSS, has not done well in several student union elections may also be a factor in driving antipathy towards some institutions. In every case of sedition, which is filed invariably in connection with a dissenting speech or piece of writing, there is a political element. In this case, the filing of the charge sheet appears to subserve the political and electoral purpose of advancing a populist nationalist agenda. It is also liable to be seen as an attempt to criminalise contrarian views among student activists and also a clampdown on dissent. It will be in the fitness of things if the trial court examines the Delhi Police report in the light of the Supreme Court’s restricted interpretation of sedition before it takes cognisance of it.
Question 1: There is no convincing case that the students, and the others present, disrupted public order or …………… violence.
Question 2: Campuses on which radical politics ……….. are anathema to the ruling dispensation.
Question 3: That the ABVP, the student wing of the RSS, has not done well in several student union elections may also be a factor in driving antipathy ……….. some institutions.
Question 4: The Delhi Police had arrested JNU student union leader Kanhaiya Kumar in February 2016, but failed to protect him from ……….. while being produced in court; it did nothing to bring to book his assailants.
Question 5: Select the word which is most nearly the SAME MEANING as the word printed in bold as used in the passage.
Question 6: Select the word which is most nearly the Opposite MEANING as the word printed in bold as used in the passage.
5-D Radicalised (original, कट्टर)
6-E Assailant (हमलावर)
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