Richest Man in India: Gautam Adani or Mukesh Ambani

India, one of the world’s fastest-growing economies, is home to several billionaires who have carved their names in the annals of global wealth. Among these, Mukesh Ambani and Gautam Adani stand out as titans of industry and commerce, each wielding immense influence and commanding vast fortunes. In this article, we delve into the lives, achievements, and business empires of these two iconic figures to understand their journeys to becoming the richest men in India.

Mukesh Ambani, The Richest Man in India 2024

Mukesh Dhirubhai Ambani, born on April 19, 1957, is an Indian industrialist and the chairman and managing director of Reliance Industries. With a staggering net worth of $110 billion as of May 2024, he holds the title of the richest person in Asia and ranks as the 12^th richest individual globally. Ambani’s entrepreneurial journey began when he joined his family business in 1981, and under his leadership, Reliance Industries has evolved into a diversified conglomerate with interests spanning telecommunications, retail, and energy sectors. He is also known for his philanthropic endeavors and ownership of the Mumbai Indians IPL franchise.

Key Achievements of Mukesh Ambani

Here are some key achievements of Mukesh Ambani, the richest man in India:

Co-chaired the India Economic Summit of the World Economic Forum in 2006 and served on the WEF Foundation Board from 2010.
Ranked number one among Indian CEOs and second globally in the Brand Guardianship Index by Brand Finance for 2023 and 2024.
Topped India Today’s “The High & Mighty 2023: 50 Power People” list and ranked among the top 10 in The Indian Express’s list of the most powerful Indians.
Became India’s first rupee trillionaire in 2007 and was simultaneously named the world’s richest man by The Economic Times and Press Trust of India.
Named the richest person in Asia by Forbes India in January 2024, with a net worth of $96.4 billion.
Featured in Forbes magazine’s annual billionaires list as one of the 10 richest people in the world for the years 2021, 2022, and 2023.

What Position does Gautam Adani hold on India’s Richest Men List?

Gautam Adani, a prominent figure in India’s business landscape, stands at the pinnacle of wealth as second richest man in India. His position atop the India’s Richest Man List and the 14^th richest person in the world underscores his remarkable success as the founder and chairman of the Adani Group, a diverse conglomerate with extensive interests ranging from port operations to green energy. Adani’s entrepreneurial journey has propelled him to the forefront of India’s economic elite, solidifying his legacy as a titan of industry.

Bank of Maharashtra Leads PSU Banks in FY24 Business Growth

In FY24, Bank of Maharashtra emerged as a frontrunner among public sector banks, showcasing remarkable growth in total business and deposit mobilization. Despite facing industry-wide challenges, the Pune-based lender recorded a notable 15.94% rise in total business, surpassing even the State Bank of India (SBI). With a focus on low-cost CASA deposits, Bank of Maharashtra achieved a remarkable 52.73% growth, underscoring its strategic advantage in maintaining a healthy cost of funds.

Total Business Growth

Bank of Maharashtra spearheaded the growth trajectory among PSU banks, registering a robust 15.94% increase in total business, outpacing even the industry giant, State Bank of India.

Deposit Mobilization

The bank maintained its dominance in deposit mobilization, witnessing a significant 15.66% rise in deposits, outperforming peers like SBI, Bank of India, and Canara Bank.

Low-Cost CASA Deposits

Bank of Maharashtra continued to lead in the realm of low-cost CASA deposits, showcasing an impressive 52.73% growth, a testament to its effective cost management strategies.

Loan Growth

In terms of loan growth, Bank of Maharashtra stood strong, recording a notable 16.30% increase, aligning with its overall growth trajectory.

Asset Quality

The bank maintained a healthy asset quality, reporting the lowest gross non-performing assets (NPAs) at 1.88% and net NPAs at 0.2%, highlighting its prudent risk management practices.

Capital Adequacy Ratio

With a robust capital adequacy ratio of 17.38%, Bank of Maharashtra led the pack among PSU banks, ensuring its resilience and stability in the face of market fluctuations.

Bank of Maharashtra’s stellar performance in FY24 underscores its strategic vision, effective management, and resilience in navigating the complexities of the banking landscape, setting a benchmark for its peers in the PSU banking sector.

Student Enrollment Under SC Category Grows By 44%

The National Commission for Backward Classes (NCBC) has reported significant increases in student enrollment under various categories from 2014-15 to 2021-22. According to data released on Saturday, enrollment of Scheduled Caste (SC) students rose by 44%, from 4.61 million to 6.62 million. SC female student enrollment increased by 51%. Additionally, Scheduled Tribe (ST) student enrollment grew by 65.2%, from 1.641 million to 2.71 million, with female ST enrollment surging by 80%. Minority female student enrollment also saw a notable rise of 42.3%, growing from 1.07 million to 1.52 million.

OBC Enrollment and Reservation Impact

NCBC Chairman Hansraj Gangaram Ahir highlighted the government’s efforts to enhance the constitutional rights of Other Backward Classes (OBCs), implementing a 27% reservation in educational institutions. In 2020-21, this policy enabled 34,133 OBC children to gain admission to Central Schools and 19,710 to Navodaya Schools. Sainik Schools admitted 1,026 OBC students in 2021-22. OBC enrollment in MBBS programs increased from 1,662 in 2021 to 2,090 in 2023, while PG Medical courses saw admissions rise from 2,663 in 2021 to 3,322 in 2023.

Higher Education Growth

Overall higher education enrollment increased by 26.5%, from 34.2 million in 2014-15 to 43.3 million in 2021-22. Female enrollment rose by 32%, from 15.7 million to 20.7 million. OBC student enrollment surged by 45%, from 11.3 million to 16.3 million, with female OBC enrollment increasing by 49.3%. In central universities, OBC enrollment rose by 32.6%, with female enrollment up by 40.4%. In Institutes of National Importance, OBC enrollment increased by 71%, with female OBC enrollment more than doubling.

Sri Sri Ravi Shankar Receives First Stamp Commemorating 200 Years of Indian Origin Tamils in Sri Lanka

Indian spiritual guru Sri Sri Ravi Shankar received the first stamp released to commemorate the completion of 200 years of Indian Origin Tamils (IOT) in Sri Lanka. The stamp was presented by the Governor of the Eastern Province of Sri Lanka, Senthil Thondaman. The event aimed to recognize and honor the IOT community, which has faced decades of neglect. Thondaman expressed gratitude to both the Indian and Sri Lankan governments for their support to the IOT community.

Recognition of the IOT Community

Governor Senthil Thondaman highlighted that the stamp symbolizes long-overdue recognition for the Indian Origin Tamils in Sri Lanka.

Gratitude to Governments

Thondaman thanked the Indian and Sri Lankan governments for their continued assistance to the IOT community, emphasizing the importance of this support in achieving recognition and progress for the community.

Significance of the Event

The presentation of the stamp to Sri Sri Ravi Shankar underscores the spiritual leader’s role in advocating for the rights and recognition of the Indian Origin Tamils in Sri Lanka.

Mohammad Mokhber, Iran’s Acting President and His Journey

Mohammad Mokhber, born on June 26, 1955, in Dezful, Iran, is a prominent figure in Iranian politics. He holds two doctoral degrees, one in international law and another in management, along with a master’s degree in management.

Career Highlights

Military Service: Mokhber served as an officer in the Islamic Revolutionary Guard Corps’s medical corps during the Iran-Iraq War.
Telecommunications and Provincial Administration: In the 1990s, he served as the CEO of Dezful Telecommunications in his hometown and later as the deputy governor of Khuzestan Province.
Banking Sector: For about a decade, Mokhber held the position of chairman of the Sina Bank board.
Mostazafan Foundation and EIKO: He served as a senior official in the Mostazafan Foundation before becoming the head of the Execution of Imam Khomeini’s Order (EIKO) in 2007.

Political Appointments

First Vice President of Iran: On August 8, 2021, President Ebrahim Raisi appointed Mokhber as the first vice president of Iran, making him the seventh person to hold this office.
Expediency Discernment Council Member: Mokhber is also a member of the Expediency Discernment Council, an influential advisory body in Iran.

Acting President of Iran (2024-present)

On May 19, 2024, following the tragic death of President Ebrahim Raisi in a helicopter crash, Mokhber assumed the role of Acting President of Iran. His position was confirmed by Supreme Leader Ali Khamenei on May 20, 2024, until new presidential elections are held.

As the first vice president, Mokhber is constitutionally empowered to assume the powers and functions of the President upon the latter’s death, with the approval of the Supreme Leader. A Temporary Presidential Council, comprising the Speaker of the Assembly, the Head of the Judiciary, and the First Vice President, is formed to organize a new election within 50 days.

Sanctions and Controversies

Mokhber’s career has not been without controversies and sanctions:

In 2010, the European Union included Mokhber, then the president of EIKO, on a list of entities sanctioned for alleged involvement in nuclear or ballistic missile activities. He was removed from the list in 2012.
In 2021, the United States sanctioned Mokhber over EIKO’s role in violating the rights of dissidents and other human rights abuses.
In October 2022, Mokhber was part of a delegation that visited Moscow to finalize an agreement to send drones and missiles to Russia to support its invasion of Ukraine.

As Iran’s Acting President, Mohammad Mokhber faces the daunting task of leading the nation through a period of transition and potential challenges, both domestically and on the international stage.

Top-10 Countries with Largest Forest Area in the World

Richest Man in India: Gautam Adani or Mukesh Ambani_13.1

Forests, with their ecological significance and environmental benefits, are essential resources for the planet. From providing habitat for diverse wildlife to serving as carbon sinks and regulating climate, forests play a crucial role in sustaining life on Earth. Let’s delve into the top 10 countries with the largest forest areas, showcasing their rich biodiversity and environmental contributions.

Worldwide Forest Area

The FAO’s Global Forest Resources Assessment reveals that the world has 4.06 billion hectares (10.0 billion acres) of forest, accounting for 31% of the total land area. This highlights the significant role forests play in the global ecosystem, providing habitat, regulating climate, and supporting biodiversity. Forest conservation is crucial for maintaining these vital functions.

Largest Country in terms of Forest Area

Russia boasts an astounding 8.2 million square kilometers of forest, surpassing the entire landmass of Australia. This vast area, primarily Siberian taiga, comprises 22% of the world’s total forest reserves, making Russia the global leader in woodland abundance. These immense forests are vital as a global “carbon sink,” absorbing significant amounts of carbon dioxide and helping to mitigate climate change. The next time you take a breath, consider the crucial role Russian forests play in maintaining our planet’s health.

Top-10 Countries with the Largest Forest Area in the World 2024

Russia, with the forest area of 8,153,116 square km, stands as the largest country in terms of forest area, followed by Brazil, Canada, U.S., and China.

Here is the list of top-10 countries with the largest forest area 2024:

Top-10 Countries with the Largest Forest Area 2024
Rank	Country	Forest Area (in sq. km)	Forest Area (in %)
1.	Russia	8,153,116	20.1%
2.	Brazil	4,953,914	12.3%
3.	Canada	3,468,911	8.6%
4.	U.S.	3,097,950	7.7%
5.	China	2,218,578	5.5%
6.	Australia	1,340,051	3.3%
7.	DRC	1,250,539	3.1%
8.	Indonesia	915,277	2.3%
9.	India	724,264	1.8%
10.	Peru	721,575	1.8%

Country with the Largest Forest Area – Russia

Forest Area: 8,153,116 square kilometers

Russia dominates global forest coverage with an astounding 8.2 million square kilometers, surpassing the landmass of Australia. These forests, primarily Siberian taiga, comprise 22% of the world’s total forest reserves. Beyond their size, they act as a crucial global carbon sink, absorbing significant carbon dioxide and mitigating climate change. Russia’s immense forests play a vital role in maintaining our planet’s health.

Second Largest Country in terms of Forest Area – Brazil

Forest Area: 4,953,914 square kilometers

Brazil, home to the vast Amazon rainforest, boasts nearly 5 million square kilometers of forest, making up 13% of the world’s total forest cover. These forests are rich in biodiversity, with about 400 billion trees from 16,000 species. However, deforestation threatens these ecosystems, highlighting the urgent need for enhanced conservation efforts.

World’s Third Largest Country in terms of Forest Area – Canada

Forest Area: 3,468,911 square kilometers

Canada boasts the third-largest forest area globally, covering 3.5 million square kilometers. These forests contribute 6.9% to the national GDP and host over 140,000 species, including the Canadian moose and grizzly bear. Wildlife enthusiasts and nature lovers will find Canada’s vast forests a remarkable destination.

Blue Origin’s NS-25 Mission: Gopi Thotakura Makes History as First Indian Space Tourist

In a groundbreaking moment for space tourism, Indian expatriate Gopi Thotakura joined the ranks of space explorers as the first Indian to embark on a journey beyond Earth’s atmosphere. The NS-25 mission, part of Jeff Bezos’s Blue Origin program, saw Thotakura and five other crew members lift off aboard the New Shepard spacecraft from a private ranch in West Texas. Among the crew was also Ed Dwight, marking the first time a Black astronaut ventured into space. This mission marked the program’s return to space tourism after a two-year hiatus following a rocket mishap. Thotakura’s inclusion in the crew highlights the growing diversity and global participation in space exploration.

Members of New Shepard (Mission NS-25)

Gopichand Thotakura: An entrepreneur and pilot of Indian origin, Thotakura secured his place among the six crew members for the NS-25 mission.
Ed Dwight: A former Air Force aviator, Dwight’s journey to space comes decades after facing rejection from NASA’s astronaut corps. At 90 years old, he sets a record as the oldest person in space.
Mason Angel: Founder of Industrious Ventures, Angel brings entrepreneurial expertise to the crew.
Sylvain Chiron: Renowned for spearheading Brasserie Mont Blanc, Chiron represents France in the crew.
Kenneth L. Hess: A software engineer and entrepreneur, Hess contributes technical expertise to the mission.
Carol Schaller: A retired Certified Public Accountant, Schaller completes the ensemble of adventurers for NS-25.

Blue Origin’s Space Tourism Endeavors

Blue Origin’s NS-25 mission marks the seventh human flight of the program, with aspirations to expand beyond suborbital journeys. Jeff Bezos envisions these flights as a stepping stone to larger ambitions, including lunar exploration. To date, 31 individuals have experienced space travel aboard New Shepard, with notable figures like William Shatner and Michael Strahan among them. Blue Origin aims to collaborate with NASA to advance lunar exploration efforts in the future, building on the legacy of Alan Shepard and the New Shepard program.

Banking Icon N Vaghul Passes Away at 88

The Indian banking industry mourns the loss of a legendary figure, N Vaghul, who passed away on Saturday in Chennai at the age of 88. Vaghul, a former chairman of ICICI Bank, left an indelible mark on the financial sector with his visionary leadership and commitment to excellence.

An Accidental Journey into Banking

Born with aspirations of becoming a civil servant, Vaghul’s path took an unexpected turn when he was forced to wait a few years to take the coveted civil services examination. Seizing the opportunity, he joined the State Bank of India (SBI) in 1954, embarking on a remarkable journey that would shape the banking landscape.

A Trailblazer in Indian Banking

After nearly two decades at SBI, Vaghul moved to the National Institute of Bank Management before joining the Central Bank of India as an executive director. His leadership capabilities were further recognized when he became the chairman and managing director of Bank of India. However, his most significant contribution came when he joined the erstwhile development bank ICICI Ltd in 1985.

Mentoring the Next Generation of Leaders

During his tenure at ICICI Bank, Vaghul mentored and guided many senior executives, including K.V. Kamath, who succeeded him as chairman and continued to build upon his legacy. Vaghul’s commitment to nurturing talent and fostering leadership played a pivotal role in shaping the bank’s future success.

Recognizing Excellence: Padma Bhushan Awardee

In recognition of his exceptional contributions to the banking industry, Vaghul was honored with the prestigious Padma Bhushan, India’s third-highest civilian award, in 2009. This accolade served as a testament to his dedication and the indelible impact he had on the financial sector.

A Life of Philanthropy and Giving

Beyond his professional accomplishments, Vaghul was a generous philanthropist, dedicated to giving back to society. He is survived by his wife, daughter, and son, who continue to carry forward his legacy of compassion and service.

Remembering a Banking Pioneer

As the Indian banking community mourns the loss of N Vaghul, his remarkable journey from an accidental banker to a visionary leader and philanthropist serves as an inspiration for generations to come. His unwavering commitment to excellence, mentorship, and giving back will forever be etched in the annals of the country’s financial history.

Sanjiv Puri Elected CII President for 2024-25: A Leadership Transition

In a significant leadership transition, Sanjiv Puri, the Chairman and Managing Director of ITC Ltd., has been elected as the President of the Confederation of Indian Industry (CII) for the term 2024-25. Puri succeeds R Dinesh, Chairman of TVS Supply Chain Solutions, in this prestigious role. Alongside Puri, Rajiv Memani assumes the position of President-Designate, while R Mukundan takes on the role of Vice President for the same term.

Sanjiv Puri: Leading the CII

Sanjiv Puri, an alumnus of IIT Kanpur and Wharton School of Business, brings a wealth of experience to his new role, having been actively involved in various initiatives to foster growth and sustainability in India’s corporate landscape. Notably, Puri’s leadership extends beyond ITC Ltd., as he has chaired expert groups and received accolades such as the ‘Best CEO Award’ from Business Today and the ‘Transformational Leader Award’ from the Asian Centre for Corporate Governance and Sustainability.

Rajiv Memani: President-Designate

Rajiv Memani, currently serving as the Chairman and CEO of EY India, assumes the role of President-Designate of the CII for 2024-25. With his background in consulting and extensive experience in global markets, Memani is poised to bring strategic insights and leadership to the CII, furthering its objectives in promoting business-friendly policies and fostering economic growth.

R Mukundan: Vice President

R Mukundan, the Managing Director and CEO of Tata Chemicals Limited, takes on the role of Vice President of the CII for the term 2024-25. With a strong educational background and expertise in the chemical industry, Mukundan is well-positioned to contribute to the CII’s agenda, advocating for the interests of businesses across sectors.

About the Confederation of Indian Industry (CII)

Established in 1895, the Confederation of Indian Industry is one of India’s oldest business lobby groups, representing the interests of various industries and advocating for favorable policies conducive to economic growth. Headquartered in New Delhi, the CII plays a pivotal role in engaging with the government and stakeholders to shape India’s business landscape.

Alexander Zverev and Iga Swiatek Reign Supreme at Italian Open 2024

German tennis star Alexander Zverev etched his name in history by winning the Italian Open singles title for the second time. The 25-year-old defeated the first-time Masters finalist, Nicolas Jarry of Chile, in straight sets, 6-4, 7-5, to claim his eighth overall Masters title.

Zverev’s journey to the Italian Open title was a testament to his unwavering spirit. This was his third final appearance at the prestigious tournament, having previously won the title in 2017 by defeating Novak Djokovic, marking his first-ever Masters triumph. However, in 2018, he fell short against Rafael Nadal in the final.

Iga Swiatek Continues Dominance with Third Italian Open Crown

In the women’s singles event, the indomitable Iga Swiatek of Poland etched her name in the annals of Italian Open history by capturing her third title in the last four years. The world number one displayed her prowess by defeating Aryna Sabalenka of Belarus in straight sets, 6-2, 6-3, adding to her remarkable collection of 21 career titles.

Swiatek’s dominance at the Italian Open has been nothing short of remarkable. While she failed to qualify for the final in the previous year, her triumphs in 2021, 2022, and now 2024 solidify her position as one of the greatest clay-court players of the modern era.

Doubles Champions Crowned

The Italian Open also witnessed thrilling battles in the doubles events, with champions emerging across both men’s and women’s categories.

In the men’s doubles final, the formidable pair of Marcell Granollers (Spain) and Horacio Zeballos (Argentina) defeated the duo of Mate Pavic (Croatia) and Marcelo Arevalo (El Salvador) in straight sets, 6-2, 6-2, claiming their first Italian Open title together.

The women’s doubles crown was claimed by the Italian duo of Sara Errani and Jasmine Paolini, who triumphed over the pairing of Coco Gauff (America) and Erin Routliffe (New Zealand) in an enthralling final.

About the Italian Open

The 81st edition of the Italian Open, a prestigious ATP Masters 1000 and WTA 1000 event, was held in the historic city of Rome, the capital of Italy, from May 6 to May 19, 2024. The tournament, played on clay courts, is one of the three Masters 1000 championships held on this surface, making it a crucial preparatory event for the forthcoming French Open.

Notably, Rafael Nadal of Spain holds the record for the most Italian Open titles with an astonishing 10 victories, cementing his legacy as the “King of Clay.”

Masters 1000 and WTA 1000 Events

The ATP Masters 1000 and WTA 1000 events are among the most prestigious tournaments in professional tennis, organized by the governing bodies of men’s and women’s tennis, the Association of Tennis Professionals (ATP) and the Women’s Tennis Association (WTA), respectively.

The ATP Masters 1000 series includes nine tournaments: Indian Wells, Miami Open, Madrid Open, Italian Open, Canadian Open, Cincinnati Masters, Shanghai Masters, Paris Masters, and Monte-Carlo Masters.

Similarly, the WTA 1000 series consists of nine events: Beijing, Indian Wells, Miami, Cincinnati, Doha/Dubai, Rome, Montreal/Toronto, and Wuhan.

These prestigious tournaments attract the best players from around the globe, providing a platform for thrilling matches and unforgettable moments in the world of tennis.