Current Affairs - Awards and Honours

Yusuf Pachmariwala has been appointed as the Managing Director & CEO of Hitachi Cash Management Services (CMS), a subsidiary of Hitachi Payment Services, starting April 1, 2025. He succeeded Anup Neogi, who retired after a successful tenure. Pachmariwala’s extensive background in cash business operations and digital payments, coupled with his leadership role in scaling cash services, makes him well-suited for this position. His appointment is expected to strengthen Hitachi CMS’s growth strategy, operational efficiency, and innovation in cash management and digital payment solutions.

S. K. Majumdar has been appointed as the Executive Director of Canara Bank, effective March 24, 2025. He brings over 25 years of experience in the banking sector, having previously served as the bank's Chief Financial Officer (CFO). Majumdar, a Chartered Accountant and Cost Accountant, has been associated with Canara Bank since 2000 and has held various leadership roles. His appointment is expected to contribute significantly to the bank's growth and governance, further strengthening its leadership team.

Rahul Bhave has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of the Industrial Finance Corporation of India (IFCI) for a term of three years. Prior to this role, he served as the Deputy Managing Director of IFCI. His appointment was approved by the Appointments Committee of the Cabinet (ACC), chaired by the Prime Minister. Bhave's leadership is expected to guide IFCI, which plays a key role in financing industrial and infrastructure projects in India.

Rajiv Gauba, the former Cabinet Secretary of India, has been appointed as a Full-Time Member of NITI Aayog, a position he assumed with immediate effect. Gauba, a 1982-batch IAS officer of the Jharkhand cadre, has had a distinguished administrative career, including serving as India’s top bureaucrat from 2019 to August 2024. His extensive experience in governance, policy-making, and administration will be instrumental in contributing to NITI Aayog’s role in formulating long-term strategies and promoting national development.

Ajay Seth has been appointed as the new Finance Secretary of India, succeeding Tuhin Kanta Pandey. Seth has been serving as the Economic Affairs Secretary since 2021 and has played a crucial role in shaping financial policies and infrastructure financing. With over 30 years of experience in public finance and taxation, his leadership is expected to guide India’s economic growth while maintaining fiscal discipline. Seth has also been instrumental in Karnataka's tax reforms and has significantly contributed to the nation’s economic reforms.