Elon Musk has new Twitter CEO lined up

RBI nod for Ranjan as MPC ex-officio member

MUMBAI: The Central Board of the Reserve Bank of India on May 2 approved the appointment of Executive Director Rajiv Ranjan as an ex-officio member of the Monetary Policy Committee (MPC). Ranjan will be succeeding Mridul Saggar, who is understood to have retired. The 595th meeting of the Board was held through video conferencing under the chairmanship of RBI Governor Shaktikanta Das.

India’s exports rise 24 pc to $38.19 bn

NEW DELHI: India’s exports in April rose 24 per cent to $38.19 billion, according to Government data released on May 3. Meanwhile imports too rose 26 per cent to $58.26 billion, the Ministry of Commerce & Industry said in a statement. The trade deficit in April came in at $20.07 billion. The value of non-petroleum exports in April was $30.46 billion, registering a positive growth of 12.32 per cent over non-petroleum exports of $27.12 billion in April 2021.

GST collections cross Rs 1.5L crore in April

NEW DELHI: The Goods and Services Tax (GST) revenues surpassed the Rs 1.5 lakh crore mark for the first time while maintaining its streak of record collections for the second time in a row with highest ever gross collections in April at Rs 1,67,540 crore. This was nearly 18 pc more than the previous record of Rs 1,42,095 crore in March on the back of faster economic recovery, better tax administration and increased compliance, the Union Finance Ministry said in a statement on May 1. The month also saw the highest ever tax collection in a single day on April 20.

Priority loans likely for alternative fuels

NEW DELHI: Union Transport Minister Nitin Gadkari on May 2 made a case for extending priority sector lending facility for entities engaged in production and business of alternative fuels such as bi-ethanol, CNG and LNG. He said this will help cut imports of fossil fuels. “I will speak about these issues with the Finance Minister and RBI Governor”, he said. “There was a concern that one could cover less kilometres with one litre of ethanol compared to one litre of petrol. Now that issue is sorted out,” he said.

Sebi imposes penalty on Motilal Oswal FS

MUMBAI: Capital markets regulator Sebi has imposed a penalty of Rs 2.5 million on Motilal Oswal Financial Services for misutilisation of clients’ funds and incorrect reporting of the margin. In addition, it has been charged for funding clients beyond the stipulated time period, failure to keep appropriate evidences of client order placement and discrepancies in CKYC (Central Know Your Customer) process among others.

Punjab bans three books of Class 12

CHANDIGARH: The Punjab Government has banned three Class 12 History books for allegedly distorting facts related to Sikh history. All three books were prescribed for students in schools affiliated to the Punjab School Education Board. The books which have been banned are ‘Modern ABC of history of Punjab’ authored by Manjit Singh Sodhi, ‘History of Punjab’ by Mahinderpal Kaur and ‘History of Punjab’ by MS Mann. These books are published by three different Jalandhar-based publishers.

Tarun Kapoor named Advisor to the PM

NEW DELHI: Former Petroleum Secretary Tarun Kapoor has been appointed as an Advisor to Prime Minister Narendra Modi, the Personnel Ministry said in an order issued on May 2. Kapoor, a 1987-batch IAS officer of the Himachal Pradesh cadre, superannuated as the Secretary of the Ministry of Petroleum and Natural Gas on November 30, 2021. Senior bureaucrats Hari Ranjan Rao and Atish Chandra have been appointed as Additional Secretaries in the PMO

Kwatra takes charge as Foreign Secretary

NEW DELHI: Seasoned diplomat Vinay Mohan Kwatra on May 1 took charge as India’s new Foreign Secretary at a time New Delhi is dealing with various geopolitical developments including the crisis in Ukraine. A 1988-batch Indian Foreign Service (IFS) officer, Kwatra succeeded Harsh Vardhan Shringla who retired from service on Saturday. He was serving as India’s envoy to Nepal before assuming the charge of the Foreign Secretary.

Kerala leader George held for hate speech

THIRUVANANTHAPURAM: The Kerala police on May 1 arrested Kerala Janapaksham Party leader PC George, also a former Legislator, for his alleged hate speech during a meeting of Hindu seers in the state capital. He was arrested under Section 153 A of the Indian Penal Code for causing enmity between two communities that invite three- year jail if the charges are proved right. There was a big uproar after his speech turned viral in some social media sites and many Muslim organisations sought action against him.

SLFP dissidents meet Indian envoy in Lanka

COLOMBO: A delegation of the ruling SLPP coalition dissidents representing the former President Maithripala Sirisena-led SLFP met Indian High Commissioner in Sri Lanka Gopal Baglay and briefed him on the current political impasse in the country and plans for an interim government arrangement to address the worst economic meltdown. “We met the Indian High Commissioner to brief him on the interim government arrangement,” SLFP General Secretary Dayasiri Jayasekera told news agency PTI.


Elon Musk has new Twitter CEO lined up

WASHINGTON: Elon Musk has lined up a new Chief Executive for Twitter who will replace CEO Parag Agrawal once the $44 billion-sale of the social network is complete, news agency Reuters reported quoting an unnamed source. Musk told Twitter’s Chairman Bret Taylor last month that he does not have confidence in the company’s management. Parag Agrawal, who was named Twitter’s CEO in November, is expected to remain in his role until the sale of the company to Musk is completed.