Citizens' Issues
MR Mayya, former ED of BSE, is no more
MR Mayya, best-known face of the capital markets in 1980s and also former executive director of BSE passed away on Thursday
 
MR Mayya, a well-known finance professional and former Executive Director of BSE died on Thursday. He was the best-known face of the capital markets in 1980s.
 
Mr Mayya, an MA in Economics from Madras University, was also Founder Chairman of BoB Capital Markets for 10 years till 2006. After completing MA, he entered into the Indian Economic Service in July 1958, and served about 18 years in the Forward Markets Commission (FMC) regulating commodity markets.
 
Mr Mayya joined Stock Exchange division of the Ministry of Finance regulating securities market in February 1973. He became the Head of Stock Exchange division in August 1978. He joined Bombay Stock Exchange (BSE) as an executive director in August 1983 and worked for about 10 years before retiring in August 1993.
 
Later, he became the founder chairman of Interconnected Stock Exchange of India (ISE), which was an experiment that did not quite work. He was also a part of innumerable experiments to find give a life to India’s 20-odd regional stock exchanges, whose future was in question after the National Stock Exchange (NSE) with automated, single-screen trading nationwide was set up. 
 
Mr Mayya was a part of many high-powered committees (GS Patel Committee on Capital Market Reforms) and also headed several committees and panels on market related issues. In 2003, the MR Mayya Committee on the development of liquidity in the stock market has urged the government to grant tax incentives to market makers. It was appointed by the Federation of Indian Stock Exchanges (FISE). This Committee had proposed setting up of IndoNext market segment on the lines of EuroNext. 
 
With his vast knowledge and experience, Mr Mayya was appointed as the Member of the Rating Committee of CARE for over 14 years till January 2008. He has also been director of various companies and for many years, was a prolific writer and columnist having penned over 250 articles.  
 
Many of these were compiled in a book called 'Glimpses of Indian Stock Markets'.

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COMMENTS

Itee

3 years ago

Extremely sad and depressing. May his family get the strength to cope up with the situation. This news should have been received more attention.

Acharya

3 years ago

A great human being A true Gandhian.. a perfect example of simple living and high thinking...It is sad that mainstream media ignored the demise of this Great Man who contributed immensely to the development of the capital market.As always, Moneylife stood out... S.R.Acharya

al-Qaeda video: Home Ministry asks IB to verify authenticity
US media and intelligence agencies said that al-Qaeda has established a new branch to wage jihad in India, revive its caliphate and impose sharia in the Indian sub-continent
 
The Union Home Ministry on Thursday asked the Intelligence Bureau (IB) to verify authenticity of an al-Qaeda video that threatens to take the terror outfit’s campaign to India.
 
According to the ministry officials, the IB has been asked to send a report as early as possible giving details of the video, its authenticity and possible place of uploading.
 
The IB, which constantly monitors the activities of the terror outfit operating in the country and its neighbourhood, is expected to send the report within a day or two.
 
US media and intelligence agencies said that al-Qaeda has established a new branch to wage jihad in India, revive its caliphate and impose sharia in the Indian sub-continent.
 
The creation of the group called ‘Qaedat al-Jihad in the Indian sub-continent’ was announced by As Sahab, al-Qaeda’s official media outlet, in a lengthy video posted on social media outlets including YouTube.
 
al-Qaeda is active in Afghanistan and Pakistan, but the group’s leader Ayman al Zawahiri said: “Qaedat al-Jihad” would take the fight to India, Myanmar and Bangladesh.
 
Zawahiri said the group will defend the “vulnerable in the Indian sub-continent, in Burma, Bangladesh, Assam, Gujarat, Ahmedabad, and Kashmir...” and “your brothers in Qaedat al-Jihad did not forget you and that they are doing what they can to rescue you from injustice, oppression, persecution, and suffering”. 

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COMMENTS

MOHAN

3 years ago

Government's first duty is to ban some of the Jihadi media of Kerala. They have political patronage.

It is a pity that Congress is still in alliance with the "dead horse" (as described by jawaharlal Nehru)

Andhra's capital to be in Vijayawada region, says Naidu
According to chief minister Chandrababu Naidu, Andhra Pradesh's capital would be centrally located around Vijayawada
 
Andhra Pradesh Chief Minister Chandrababu Naidu has formally announced the state’s new capital around Vijayawada region, adding that this is the most centrally-located area. Naidu-led TDP has also proposed three mega cities and 14 smart cities to boost development in the region.
 
Nearly 50% of the representations received by the state government favoured the Vijayawada-Guntur region, according to an official statement. The decision was taken after a comprehensive study of prevailing conditions, potential, and economic growth strategies of each district.
 
Naidu has also promised to improve, air, rail and road connectivity for all districts to position Andhra Pradesh as a logistics hub and revive economy in the state.
 
Meanwhile, the centrally-appointed Sivaramakrishnan Committee, which had opposed the Vijayawada region as capital, also presented its report before the state Legislative Assembly on Thursday.
 
Making a statement in the Legislative Assembly amid a din caused by opposition YSR Congress, Naidu said, "The Cabinet met on 1st September and resolved to locate the capital city in a central place of the state, around Vijayawada, and go for decentralised development of the state with three mega cities and 14 smart cities.
 
"It is proposed to go for land pooling system to be worked out by a Cabinet sub-committee," he said.
 
The Andhra Pradesh Reorganization Act 2014, which came into force on 1 March 2014, provided for the reorganization of the existing state of Andhra Pradesh.
 
“Andhra Pradesh capital to be centrally located around Vijayawada. Will do justice to every city through decentralised development,” tweeted Andhra CM  Chandrababu Naidu.

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