Muthoot Finance Selected for FATF Mutual Evaluation Report 2023-24

Muthoot Finance has been exclusively selected as the only Indian NBFC for the Financial Action Task Force’s (FATF) Mutual Evaluation report for 2023-24. This recognition highlights Muthoot Finance’s global trustworthiness and compliance with stringent financial regulations.

Recognition by FATF

Muthoot Finance, a prominent Non-Banking Financial Company (NBFC) in India, has been chosen by the FATF for its Mutual Evaluation report for 2023-24. This selection underscores the company’s commitment to fair trade practices, transparency, and regulatory compliance.

FATF’s Role and Evaluation

The FATF, established in 1989, is a global authority that develops policies to combat money laundering, terrorism financing, and other significant threats to the financial system. The FATF conducted a comprehensive assessment of various entities in India, including law enforcement agencies, industry bodies, banks, and NBFCs, evaluating their efforts in combating financial crimes.

Muthoot Finance’s Contribution

Muthoot Finance was the sole NBFC representing India’s NBFC segment during the FATF’s onsite evaluation in New Delhi in November 2023. The company’s delegation included Executive Director & COO Mr. K R Bijimon, Company Secretary Mr. Rajesh Warrier, General Manager Audit Mr. Kiran G, and Manager of the Executive Director’s Office Ms. Bindhu Joseph.

Statement from Muthoot Finance MD

Mr. George Alexander Muthoot, Managing Director of Muthoot Finance, expressed pride in the recognition, stating, “This selection from FATF is a significant achievement for us and is testimony to Muthoot Finance’s legacy as a trusted brand not just in India but globally. Our unwavering commitment to fair-trade practices, transparent operational processes, and compliance with regulations has enabled us to deliver high performance and daily service to more than 2.5 lakh customers nationwide. We always strive to set benchmarks in the Indian finance industry through proactive measures focused on strengthening money laundering and fraud detection to provide a safe and secure environment for our customers and play an instrumental role in delivering last-mile credit to all.”

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Dhirendra Ojha Appointed Principal Spokesperson of Government

In a significant move to strengthen the government’s communication strategy, senior Indian Information Service (IIS) officer Dhirendra K Ojha has been appointed as the principal spokesperson of the central government. This appointment marks an important day in the realm of government communications, as it brings fresh leadership to crucial information dissemination roles.

A New Voice for the Government

Dhirendra K Ojha, a seasoned 1990-batch IIS officer, will now be the face and voice of the central government’s communications. His appointment comes with the additional responsibility of serving as the principal director general of the Press Information Bureau (PIB). This dual role positions Ojha at the forefront of government-media relations and public information dissemination.

Key Responsibilities:

  • Acting as the principal spokesperson for the central government
  • Overseeing operations of the Press Information Bureau
  • Coordinating with various ministries and departments for effective communication

Passing the Torch: A Smooth Transition

Ojha takes over from Sheyphali B Sharan, who held the position of principal director general of PIB since April 1, 2023. Sharan, also a 1990-batch IIS officer, has now been entrusted with a new role as the director general of the Publications Division. This transition ensures continuity in leadership while bringing fresh perspectives to different departments.

Experienced Hands at the Helm

Dhirendra K Ojha: A Seasoned Communicator

Before his current appointment, Ojha served as the director general of the Central Bureau of Communications (CBC). His experience in this role has equipped him with valuable insights into the government’s advertising strategies and media advisory functions. This background is expected to enhance his effectiveness in his new position as the government’s chief spokesperson.

Previous Role Highlights:

  • Overseeing government advertising campaigns
  • Providing media strategy advice to various government bodies
  • Coordinating communication efforts across central government organizations

YK Baweja: New Leadership for CBC

As Ojha moves to his new role, YK Baweja steps in to fill the vacancy at the Central Bureau of Communications. Baweja, who previously served as a PIB Director General, will now lead the CBC. This appointment ensures that the important work of the CBC continues under experienced leadership.

CBC’s Key Functions:

  • Managing advertising for all central government organizations
  • Serving as an advisory body on media strategy
  • Coordinating communication efforts across various government departments

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Hemant Soren Sworn in as Jharkhand Chief Minister After Legal Ordeal

Hemant Soren has returned as Chief Minister of Jharkhand, reinstated after a five-month hiatus that began with his arrest by the Enforcement Directorate. His reappointment follows a tumultuous period marked by political maneuvering within the Jharkhand Mukti Morcha (JMM), which heads the state’s ruling alliance.

Legal Battles and Political Maneuvers

Hemant Soren’s journey back to power started with his resignation amid legal troubles, only to be cleared later by the High Court due to lack of direct involvement in a corruption case. His return necessitated the resignation of interim Chief Minister Champai Soren, highlighting internal party dynamics.

Future Challenges and Electoral Strategy

With state elections looming, Hemant Soren faces the task of consolidating his position within the alliance and preparing for electoral challenges posed by opposition parties, particularly the BJP, which has criticized the leadership change in JMM.

Alliance Dynamics and Opposition Reaction

The ruling coalition, comprising JMM, Congress, RJD, and Left parties, aims to leverage Hemant Soren’s leadership to maintain its majority in the upcoming assembly elections. However, the BJP has seized upon internal dissent within JMM to challenge the alliance’s stability and leadership credibility.

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Most Urban District in Uttar Pradesh

Uttar Pradesh is the most populous state in India and also has the highest number of districts. Each district in Uttar Pradesh has its own unique characteristics that contribute to the state’s distinctiveness. While many may be familiar with various districts, not everyone knows which district has the largest urban area. This article aims to provide insights into the most urbanized district of Uttar Pradesh.

An Overview of Uttar Pradesh

Uttar Pradesh is the fourth largest state in India, covering a total area of 240,928 square kilometers, which constitutes about 7.33% of India’s total land area. It is also the most populous state, with its population surpassing 240 million as of recent estimates, up from 199.8 million recorded in the 2011 census. This state is rich in history and cultural heritage, attracting numerous domestic and international tourists each year.

Number of Districts in Uttar Pradesh

Uttar Pradesh is divided into 75 districts, which are organized into 18 divisions and four regions: Purvanchal (Eastern Uttar Pradesh), Central Uttar Pradesh, Bundelkhand, and Western Uttar Pradesh. Western Uttar Pradesh is considered the most industrially developed region. The state comprises 351 tehsils, 822 community development blocks, 28 development authorities, and 17 municipal corporations.

Largest and Smallest Districts

In terms of area, Lakhimpur Kheri is the largest district in Uttar Pradesh, spanning 7,680 square kilometers. On the other hand, Hapur is the smallest district, covering an area of 660 square kilometers.

Mots Urban District in Uttar Pradesh

The most urban district in Uttar Pradesh is Lucknow, the state capital. It has the largest urban area, spanning 471 square kilometers. Known for its rich history and cultural significance, Lucknow is a major center for education, commerce, and governance, making it the most developed and urbanized district in the state.

Urban Area of Lucknow

Lucknow boasts an urban area of 471 square kilometers, making it the district with the most extensive urban region in Uttar Pradesh.

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How many Players are there in Hockey Team?

Hockey is a widely popular sport with different variations played around the world. Each type of hockey has its own rules regarding the number of players on a team. Understanding these variations is crucial for both fans and new players. This article will explore the team compositions in field hockey, ice hockey, indoor hockey, and roller hockey, highlighting how many members each team has.

Number of Players in a Hockey Team

A hockey team typically consists of 11 players on the field. These players have specific roles and positions, working together to achieve victory. Here is a breakdown of the positions and responsibilities of each player.

Composition of Hockey Team

In field hockey, each team consists of 11 players. These players include:

  • 1 Goalkeeper
  • 10 Field Players

Field Players in Hockey Team

Field players in a hockey team, comprising ten members, play crucial roles as attackers, midfielders, and defenders. Each position contributes uniquely to the team’s strategy, aiming to secure goals while defending against opponents.

Attackers

  • Role: The main goal scorers of the team.
  • Types of Attackers: This group can include wings, inside forwards, and a striker.
  • Objective: Their primary objective is to score goals by getting past the opponent’s defenders and goalkeeper.

Midfielders

  • Role: The most versatile players on the field.
  • Responsibilities: They contribute to both offense and defense, making them crucial in transitioning the play from defense to attack.

Defenders

  • Role: Primarily responsible for defense.
  • Special Position: The deepest defending back may be used as a sweeper.
  • Objective: Their main objective is to stop the opposing team from scoring by blocking shots and clearing the ball from the defensive area.

Goalkeeper

The goalkeeper is the last line of defense. This player must protect the goal cage area and is the only one allowed to touch the ball with their body. However, the goalkeeper can only use their body within the shooting circle. The goalkeeper’s role is critical in preventing the opposing team from scoring.

Substitutes in Hockey

In addition to the 11 players on the field, hockey teams have substitute players. The number of substitutes can vary, but usually, there are up to five substitutes allowed. Substitutions can be made during the game to replace tired or injured players.

Rotations and Strategy

Coaches use substitutes strategically to maintain a high level of performance throughout the game. Players can be rotated in and out to keep fresh legs on the field and adapt to the game’s flow.

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Keir Starmer: The Next British Prime Minister

Keir Starmer, born in 1963 to a working-class family near London, is set to become Britain’s next Prime Minister. With a background in human rights law and public prosecution, he entered politics relatively late, becoming an MP in 2015.

Political Career and Achievements

Starmer’s rise within Labour saw him restore the party’s fortunes after the 2019 election setback. His tenure as Director of Public Prosecutions (2008-2013) underlines his commitment to justice, prosecuting MPs and journalists in high-profile cases.

Campaign and Vision

His campaign focused on economic stability post-Brexit, healthcare reforms, and strengthening ties with India. He promises a strategic partnership with India, including a free trade agreement, and pledges to combat discrimination against Hindu communities.

Challenges Ahead

Despite a decisive electoral victory, Starmer faces challenges in uniting a divided country and delivering on his promises amidst global uncertainty.

Personal Life

Starmer, married with two children, maintains a passion for music and football, supporting Arsenal. He advocates for occupational health in the NHS through his wife’s work and remains committed to public service rooted in his upbringing and values.

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Indiabulls Housing Finance Rebrands as Sammaan Capital Limited

Indiabulls Housing Finance Ltd has undergone a transformation, rebranding itself to Sammaan Capital Ltd. This change reflects its shift from a promoter-led entity to a board-run, diversified financial institution. The rebranding, effective upon receipt of regulatory approvals, marks a significant milestone in the company’s 25-year journey since its inception as Indiabulls Financial Services Limited in 2000.

Transformation and Governance Shift

The company’s evolution includes significant governance reforms, with former RBI Deputy Governor S.S. Mundra assuming the role of Independent Chairman in 2020. Independent directors with expertise relevant to the business have bolstered oversight, while the erstwhile promoter has completely divested his stake, enhancing board independence and oversight capabilities.

Business Focus and Strategy

Sammaan Capital will maintain a retail-focused approach, specializing in affordable home loans and mortgage-backed loans for micro, medium, and small businesses. Emphasizing an asset-light model, the company aims for Asset Under Management (AUM) growth through strategic partnerships in loan origination and co-lending arrangements with banks and financial institutions.

Operational Integration and Future Outlook

The company plans to swiftly integrate its new identity across operations, including branches, website, and marketing materials. Customer engagement initiatives will underscore the rebranding, aligning with strategic objectives aimed at enhancing Return on Equity (RoE) through sustainable business growth in the retail segment.

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RBI Appoints Charulatha S Kar as Executive Director

The Reserve Bank of India (RBI) has appointed Smt. Charulatha S Kar as Executive Director (ED), effective from July 1, 2024. Previously serving as Chief General Manager-in-Charge in the Human Resource Management Department, she brings over three decades of experience in various roles including Payment and Settlement Systems, Information Technology, and Government Banking. Smt. Kar has represented the RBI in several international forums and committees.

Responsibilities and Expertise

As Executive Director, Smt. Kar will oversee the Department of Communication, Human Resource Management Department, and serve as the Right to Information (First Appellate Authority). She holds a post-graduate degree in commerce from the University of Mumbai, a Diploma in Treasury & Forex Management, and is a Certified Associate of IIBF.

Background of Other Appointments

Alongside Smt. Kar, the RBI also appointed Arnab Kumar Chowdhury as Executive Director effective from June 3, 2024. Chowdhury, previously Chief General Manager-in-Charge in the Department of Supervision, brings extensive experience in financial entity supervision and corporate strategy. His responsibilities include oversight of Deposit Insurance and Credit Guarantee Corporation, the foreign exchange department, and the international department.

Educational and Professional Background

Chowdhury, a chartered accountant with a master’s degree in economics, has been instrumental in policy formulation and has served on numerous RBI committees and working groups. His career spans over three decades within the RBI, focusing on budgeting, accounting, and strategic financial oversight.

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Oldest Canal in Uttar Pradesh

Uttar Pradesh, the fourth largest state in India, spans an area of 240,928 square kilometers. Known for its diverse culture and unique traditions, Uttar Pradesh also has a rich network of rivers and canals. In this article, we will explore the oldest canal in Uttar Pradesh, its history, and its significance.

An Overview of Uttar Pradesh

Uttar Pradesh, with an area of 240,928 square kilometers, is the fourth largest state in India. It is also the most populous state, with a population of approximately 199.8 million as recorded in the 2011 census, accounting for about 16.5% of India’s total population. The state is divided into 75 districts, which are further grouped into 18 divisions.

What is a Canal?

Canals are man-made waterways that are often created by diverting water from rivers. Unlike rivers, which are natural, canals are constructed for specific purposes such as irrigation and transportation. In Uttar Pradesh, the presence of numerous rivers has led to the creation of several canals, which play a vital role in agriculture and water management.

Major Canals in Uttar Pradesh

Uttar Pradesh is home to several significant canals, including:

  • Eastern Yamuna Canal
  • Upper Ganga Canal
  • Lower Ganga Canal
  • Sharda Canal

These canals are primarily used for irrigation, helping to support the state’s agricultural needs.

The Oldest Canal in Uttar Pradesh

The oldest canal in Uttar Pradesh is the Eastern Yamuna Canal. Constructed during the British colonial period in 1830, this canal is a remarkable engineering feat. It originates from the left bank of the Hathnikund Barrage in Saharanpur district, at Faizabad village in Behat Tehsil.

Construction and History of Oldest Canal of Uttar Pradesh

The Eastern Yamuna Canal was built to utilize the water of the Yamuna River for irrigation purposes. It was designed to help mitigate the impact of droughts and improve agricultural productivity in the region. The canal has a total length of approximately 1,440 kilometers, making it one of the longest canals in the state.

Importance of the Eastern Yamuna Canal

The construction of the Eastern Yamuna Canal marked a significant development in the region’s irrigation infrastructure. It provided a reliable source of water for irrigation, which in turn boosted agricultural output and supported the livelihoods of farmers. The canal also played a role in controlling floods by managing the flow of the Yamuna River.

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Justice Sheel Nagu Appointed Chief Justice of Punjab and Haryana High Court

Justice Sheel Nagu has been appointed as the Chief Justice of the Punjab and Haryana High Court, following a notification by the Centre on Thursday. Previously, Justice Nagu served as the Acting Chief Justice of the Madhya Pradesh High Court after Chief Justice Ravi Malimath demitted office on May 24, 2024. His appointment comes after a Supreme Court Collegium recommendation and fills the position left vacant since Chief Justice RS Jha’s retirement on October 13, 2023. Justice Sanjeev Sachdeva has now been appointed as the new Acting Chief Justice of the Madhya Pradesh High Court.

Background and Career

Birth and Early Career: Born on January 1, 1965, Justice Sheel Nagu enrolled as an advocate in October 1987 and practiced at the Madhya Pradesh High Court in constitutional, service, labor, and criminal cases.

Judicial Appointment: Appointed as a High Court judge on May 27, 2011.

Judicial Contributions: Authored more than 499 reported judgments over a tenure of 12 years at the Madhya Pradesh High Court.

Supreme Court Collegium Recommendation

Recommendation Date: December 27, 2023.

Collegium Members: Chief Justice of India DY Chandrachud, Justices Sanjiv Khanna, and BR Gavai.

Previous Acting Chief Justices: Justice Ritu Bahri (October 2023 – February 2024) and Justice GS Sandhawalia (appointed February 4, 2024).

Recent Appointments and Changes

New Acting Chief Justice of Madhya Pradesh High Court: Justice Sanjeev Sachdeva.

Recent Clearances by Centre: Appointment of Justice BR Sarangi as Chief Justice of the Jharkhand High Court on July 3, following the Collegium’s recommendations.

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Welcome to the Current Affairs Section of Adda247. If you are preparing for Government Job Exams, then it is very important for you to read the Daily Current Affairs. All the important updates based on current affairs are included in this Daily Current Affairs 2024 article.

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