Current Affairs - Awards and Honours

Arvind Panagariya, the Chairman of the 16th Finance Commission, highlighted concerns regarding the Centre's growing dependence on cesses and surcharges, which are not shared with states as part of the divisible pool of revenue. This issue stems from the 80th Constitutional Amendment, which formally excluded such revenues from sharing under Article 270. Cesses and surcharges, levied for specific purposes or on higher income brackets, are significant tools in India's fiscal policy but raise questions about revenue distribution and federal financial equity.

Manish Jain has been appointed as the Executive Director (Whole-Time Director) of YES Bank for a three-year term from December 11, 2024, to December 10, 2027. This appointment was approved by the Reserve Bank of India under Section 35B of The Banking Regulation Act, 1949. Jain, who has been with YES Bank since September 2023 as the Country Head of Wholesale Banking, brings over three decades of experience in corporate and wholesale banking, including a long tenure at Standard Chartered Bank. His educational background includes a Post Graduate Diploma in Management from IIM Bangalore and a B.Tech from IIT Delhi.

Two Indian heritage conservation projects won the prestigious UNESCO Asia-Pacific Cultural Heritage Conservation 2024 Awards. The first project, the Abathsahayeswarar Temple Conservation in Thukkatchi, Tamil Nadu, won the Award of Distinction, while the BJPCI Conservation Project in Mumbai received the Award of Merit. These awards aim to recognize and promote efforts to restore, conserve, and transform cultural heritage sites, showcasing India's commitment to preserving its rich cultural legacy.

Bhavesh Jain has been appointed as the new Managing Director and CEO of TransUnion CIBIL, succeeding Rajesh Kumar, who stepped down after a five-year tenure. Jain has a rich background in financial services, having worked at Citi, Kone, and Thomson Reuters. His experience as CIBIL's Chief Revenue Officer for five years played a key role in his promotion. Jain's leadership focuses on enhancing financial inclusion and digital transformation in India, with a vision to promote sustainable credit access and strengthen consumer trust.

Devajit Saikia, a former cricketer from Assam and the current joint secretary of the Board of Control for Cricket in India (BCCI), has been appointed as the Acting Secretary of the BCCI. He replaces Jay Shah, who assumed the role of ICC Chair on December 1. Saikia will serve in this capacity under a stop-gap arrangement until September 2025.