Governor Vidyasagar Rao administered the oath to Devendra Fadnavis in the presence of PM Modi, Amit Shah, L K Advani and senior leaders of the BJP and Congress Party in Maharashtra.
Devendra Fadnavis was officially sworn in as the Chief Minister of Maharashtra, at the Wankhede Stadium today. In a grand ceremony designed and executed by Nitin Desai, Fadnavis became the first BJP leader to become the CM of Maharashtra.
The elaborate ceremony included entertainment as the guests walked in, stories of leaders such as Shivaji and other Maratha warriors told by Marathi Baana performers.
Uddhav Thackeray was present on stage as Fadnavis took oath; Thackeray agreed to attend the ceremony only at the last minute, at the personal invitation of Amit Shah and Fadnavis.
Of the over 5,000 VIPs in attendance, there were statutory dignitaries, MLAs, MLCs, MPs, Consul Generals etc. A separate section housed Bollywood celebrities, sports stars and businessmen.
The BJP also had 25 lotuses in fishing boats off Marine Drive. The concept was based on former PM Atal Behari Vajpayee’s 1980 poem, in which he said that, he would like to see the lotus blooming in the field of politics one day.
Other than the CM, 7 other Cabinet Ministers and 2 Ministers of State were also sworn in. Following the swearing-in of the ministers, the new CM took a victory lap of the stadium along with his senior ministers.
A dedicated ‘FasTag Lane’ at all toll plazas across national highways in the country will be enabled to accept cashless toll payment through RFID tags on the windshield of vehicles, said Axis Bank in a press release after the inauguration of the facility
Axis Bank, India’s third largest private sector Bank, has partnered with IHMCL (Indian Highways Management Company Limited), a subsidiary of NHAI (National Highways Authority of India) to launch Electronic Toll Collection (ETC) facility. A dedicated ‘FasTag Lane’ at all toll plazas across national highways in the country will be enabled to accept cashless toll payment through RFID tags on the windshield of vehicles, said Axis Bank in a press release after the inauguration of the facility.
Toll plaza operators will also stand to benefit as they would not be required to handle cash and will have less stress of handling peak hour traffic congestions. Axis Bank’s interoperable clearing system will allow users to use the same FasTag at all 350 toll plazas on national highways.
Users can buy and recharge FasTags online or at Axis Bank’s network. Users will also be receiving value added services and a dedicated 24x7 call centre to make road journeys convenient.
Users, with FasTag will now be able to cruise through the toll plazas without the hassle of stopping and paying cash. It will improve the average time of travel and will make the journey smoother.
V Srinivasan, Executive Director – Corporate Banking, Axis Bank said, “National highways in the country have seen substantial improvement in terms of the quality of roads and the overall road network. With the objective of providing an efficient and speedy customer experience, highway users will now be able to drive through the toll plazas without the hassle of stopping for paying cash using the FasTag. FasTag uses state of the art technology to identify, collect and manage toll collections at plazas through the country. We believe that Axis Bank's partnership with IHMCL in offering this facility will help redefine process of toll collections in the country and make the collection infrastructure at par with the best in the world.”
Inter-connected Stock Exchange could not recommence its trading platform due to non-fulfillment of criteria. Are its employees bound to suffer even after working sincerely?
With ISE unable to recommence its operations as the trading platform, it has applied to SEBI for an exit from the stock exchange.
Inter-connected Stock Exchange of India Limited (ISE) is a national-level stock exchange, providing trading, clearing, settlement, risk management and surveillance support to its Trading Members. ISE incorporated as a company limited by guarantee in January 1998. It has 791 Trading Members, located in 84 cities spread across 18 states. These intermediaries are administratively supported through the regional offices at Delhi, Kolkata, Patna, Ahmedabad, Coimbatore and Nagpur, besides Mumbai.
According to the employees, they ‘dedicated’ themselves to work and enabled ISE to be inspected by SEBI, which SEBI completed successfully. As a result of this, SEBI issued a letter dated 10 January 2013, allowing it to recommence its trading platform as per the laid down criteria. In October this year, however, SEBI directed all exchanges that do not possess a trading platform with an annual turnover of at least Rs1,000 crore and a net worth of Rs100 crore, and that do not have a tie-up with a clearing corporation, to exit. Thus, 14 regional exchanges including the Inter-connected Stock Exchange, were required to wind up operations.
As a result of the above direction, ISE terminated all employees. Representations were made to the Board of Directors, proposing that if the shareholders decided for an alternate business, the very same set of employees would extend the same dedication to build the new business. Or in the event of termination, employees are compensated appropriately.
The shareholders, however, pressurised the broad of directors not to provide any compensation to the staff. Instead the ISE directors met SEBI officials to complete their exit from the stock market. Once ISE exits, the chance of employees getting any compensation also exits. So much so that even paying statutory dues might be a far cry.
Though ISE employees have made several representations to the management, they have laid on deaf ears.
Instead of abrupt ousting, the management could have made a more suited exit plan for employees, giving them appropriate compensation and time to look for employment elsewhere!