The Finance Ministry has finally appointed Arundhati Bhattacharya as the new chairperson of SBI. As per the norms, the candidate has to have at least two years of service left before retirement which seems to have ruled out the other three MDs of SBI
State Bank of India (SBI), the country's largest lender has appointed Arundhati Bhattacharya as its new chairperson. Earlier, she was managing director and chief financial officer of SBI.
Ms Bhattacharya replaces Pratip Chaudhuri who retired on 30th September. Chaudhuri was appointed chairman in April 2011.
Earlier, the government interviewed all the four managing directors, A Krishna Kumar, H Contractor, S Viswanathan and Arundhati Bhattacharya for the top post at SBI. Among these candidates, Ms Bhattacharya has the longest tenure left - two and half years.
According to a report from Business Standard, the Finance Ministry had sought an exemption from the current regulatory guidelines because only one of the four SBI managing directors, i.e. Arundhati Bhattacharya was eligible for the chairman’s position. As per the norms, the candidate has to have at least two years of service left before retirement which ruled out the other three MDs.
About Arundhati Bhattacharya
Born on 18 March 1956, Arundhati Bhattacharya joined SBI as a Probationary Officer in 1977. During her tenure of 36 years in SBI, she has held a number of important positions including those of deputy managing director and corporate development officer, chief general manager (Bangaluru Circle) and chief general manager (New Businesses). She also headed SBI Capital Markets Ltd, a Subsidiary of SBI.
She has also had a stint in the Bank's New York office where she was in charge of monitoring branch performance, overseeing external audit and correspondent relations. She has handled retail and corporate finance as well as treasury. She has also played a pivotal role in setting up three of the latest subsidiaries of the Bank, the general insurance subsidiary, the custodial subsidiary and the SBI Macquarie Infrastructure Fund.
Income Tax officials that were seeking tax details on their Gmail and Yahoo! email IDs would henceforth use only official email IDs for official communication
The Income-Tax (I-T) department has directed all of its officials to use official email IDs for all official communication. Moneylife had raised the issue of I-T officials sending mails to taxpayers using IDs from free email service providers like Gmail and Yahoo!.
In a circular, issued on 27 September 2013, the Directorate of I-T, has said, "Since official IDs are available with most of the Departmental Officers, it is instructed that hereinafter all official communication(s) on mail shall be only through the official email IDs detailed above. In the event that an official email is required to be sent urgently and the official email ID not available, the official IDs of the Commissioners of I-T (CsI-T) or Directors of I-T (DsI-T) may be utilised for the same.”
As Moneylife pointed out one of the I-T officers sent a reminder to a wealthy individual to pay his advance tax in time and send details to his Gmail email address.
Here is the circular issued by the I-T department...
Citizens and activist groups are protesting against the proposed amendment to keep restaurants and pubs open for 24 hours, which they feel may increase noise pollution and also create law and order issues
The newly proposed pro-business amendment in the Maharashtra Shops and Establishment Act has been a subject of criticism. As per the proposal, restaurants and pubs will be allowed to remain open for 24 hours per day. The move is expected to promote business and attract more tourists in the city. Several citizens groups have vehemently objected to the proposal raising the issues of noise pollution. Residents have also complained of allied issues including law and order issues.
Police Reforms Watch, along with other citizen activist groups, in a letter addressed to Prithviraj Chavan, the chief minister of Maharashtra, has requested to channelise the pre-legislation process, after consulting the stakeholders—mainly citizens and activist groups working in this specific field.
The new amendment seeks to allow restaurants to remain open throughout the night mainly for the tourists. The amendment does not carry any specifications pertaining to the area of establishment of the restaurants: whether they are in the commercial area or residential area. The letter also brings out issues like the law and safety in such areas and preparedness of the police to enforce laws to tackle the situation.
As Dolphy D’souza, convenor of Police Reform Watch puts, “Most of the restaurants in such areas serve alcohol. There are issues of discipline, health, major concerns like lack of parking lot that makes matters worse in a densely populated residential area. These often get ignored because these restaurants have big patrons.” Such restaurants and pubs in these areas create nuisance, disturb the night time peace. There are loudspeakers used within the restaurant, honking of the vehicles and shouting in the streets while their patrons depart late at night in their private vehicles.
According to the citizens’ group the move will increase noise pollution especially in the residential areas and harm the tranquillity in such areas. The letter to the honourable chief minister also points out the fact that to entertain a small section of the people the stake of the larger part of the population cannot be ignored.
“Everything can be managed, we are not against business, but before the government brings such amendment it should observe the scenario and acknowledge the problem. It is absolutely necessary to consult the citizens and the activist groups working in this issues before proposing such amendments”, says Mr D’souza. He also points out that the passive role of the Mumbai Metropolitan Region Development Authority (MMRDA) in mapping the areas of establishment of such restaurants. “The MMRDA is supposed to locate the suitability of the areas where such restaurants can be established. But it neither does things on its own even if the activists groups bring issues to their notice nor even accrue cognizance to such matters”, adds Mr D’Souza.
The Bandra, Khar and Santacruz stretch is one the instance where there are many such restaurants in a residential area. The citizens group had protested in the past Bombay Municipal Corporation (BMC) about restaurants that create noise pollution at night.