Current Affairs - Awards and Honours

Sriram Krishnan, an Indian-American entrepreneur and tech leader, has been appointed by President-elect Donald Trump as Senior AI Policy Advisor at the White House. With a rich background in technology, including stints at Microsoft, Twitter, and Facebook, Krishnan will work with David Sacks to shape U.S. AI policy. His expertise in AI, technology, and public policy will play a critical role in ensuring the U.S. remains a global leader in artificial intelligence. Krishnan’s role will also involve coordinating efforts across the government and advising on AI strategies.

Abhijit Majumder has been appointed as the Chief Financial Officer (CFO) of Oil India Limited, succeeding Rupam Barua. Majumder, who has been serving as Director (Finance) since November 20, is a distinguished member of the Institute of Cost & Management Accountants of India. Oil India Limited, a Maharatna PSU established in 1959, plays a significant role in India's energy sector, with Ranjit Rath serving as its Chairman and Managing Director.

Rama Mohan Rao Amara has been appointed as the Managing Director of the State Bank of India (SBI) for a three-year term. Previously serving as Deputy Managing Director, Amara is set to take charge and lead the bank in its strategic initiatives and operations. He succeeded CS Setty, who was elevated to the role of SBI Chairman. This appointment is part of a broader effort to ensure effective leadership and continuity within the institution, highlighting the importance of experienced management in India's largest public sector bank.

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.