News From The Business & Finance World
Anshula Kant, New SBI Director
Anshula Kant was appointed the new Managing Director of State Bank of India on September 7, 2018. Before this, she has been the Deputy Managing Director since May 2014 and Chief Financial Officer (CFO) since June 2015, at SBI. The post became vacant as B. Sriram resigned on June 30, 2018. He went on to become the MD and CEO of IDBI Bank.
Tata Power Signs MoU with Afghan Power Distribution Company
Tata Power has signed a memorandum of understanding (MoU) with an Afghanistan Government-owned power distribution company. The agreement was signed with the Afghan company, Da Afghanistan Bresha Sherkat (DABS). This is for production, distribution and transmission of power in Afghanistan. The MoU was signed during the Second India-Afghanistan International Trade and Investment Show held in Mumbai from September 12 to September 15.
Measures to Control the Fall in Rupee
The Union Government announced the measures to be taken to check the rising Current Account Deficit (CAD) and the fall in rupee. The decisions were taken at a meeting chaired by Prime Minister Narendra Modi in New Delhi on September 14, 2018. The meeting was primarily held to review the current state of the economy.
The New CEO & MD of Axis Bank
Amitabh Chaudhry will be taking over as MD & CEO of Axis Bank from January 1, 2019 till December 31, 2021. He will be replacing the outgoing MD & CEO, Shikha Sharma whose term ends on December 31, 2018. He has been with HDFC Life since January 2010.
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