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India
Intelligence for Better Decision Making
Axis Bank CEO Amitabh Chaudhry's term extension
April 26, 2024 | Indirect Indicator- Amitabh Chaudhry has been reappointed as the Managing Director & CEO of Axis Bank for a further three years, starting from January 1, 2025, until December 31, 2027. The re-appointment is subject to the approvals from the Reserve Bank of India (RBI) and the members of the bank.
- Meena Ganesh and Gopalaraman Padmanabhan have also been re-appointed as Independent Directors for a second term of four years. Ganesh's term will run from August 1, 2024, to July 31, 2028, while Padmanabhan's term will start from October 28, 2024, and end on October 27, 2028. These appointments are also subject to approval from the bank's members.
- Axis Bank demonstrated a significant increase in its performance with fourth-quarter profits exceeding expectations due to strong loan growth and increased revenue from lending activities. The bank's shares rose over 5 percent following this announcement.
- In the last quarter of 2024, Axis Bank reported a consolidated net profit of Rs 7,599 crore, but also flags concerns about deposit growth in the upcoming financial year.
- Axis Bank has overtaken Kotak Mahindra Bank to become the fourth largest bank in terms of market value. This also comes as a result of better-than-expected Q4 results which boosted the bank's shares by 4%.
- Leadership changes at Axis Bank including the extension of Amitabh Chaudhry's term as CEO for three years and the reappointment of Meena Ganesh and Gopalaraman Padmanabhan as independent directors indicate strategic moves by the bank to ensure continuity, stability, and strong governance in its top management team.
Supreme Court ruling on EVM-VVPAT verification
April 25, 2024 | Indirect Indicator- The Supreme Court is set to issue directions regarding the cross-verification of votes cast through Electronic Voting Machines (EVMs) with VVPAT (Voter Verifiable Paper Audit Trail) counts.
- A bench of Justices Sanjiv Khanna and Dipankar Datta will address petitions filed by the NGO Association for Democratic Reforms and others on April 24 regarding the cross-verification of votes.
- The Court had noted that addressing apprehensions related to the electoral process is crucial for ensuring free and fair elections.
- Petitioners argue that voters have the right under Article 19 and 21 of the Constitution to cross-verify their votes through VVPAT.
- The NGO 'Association for Democratic Reforms (ADR)' is one of the petitioners seeking a reversal of the Election Commission's decision in 2017 to replace the transparent glass on VVPAT machines with an opaque glass.
- The ADR has requested to match the count in EVMs with votes that have been verifiably "recorded as cast" and ensure that voters can verify through the VVPAT slip that their vote has been counted accurately.
- The Supreme Court has also requested clarification from the Election Commission on concerns regarding EVMs and VVPAT verification,
- Justices Sanjiv Khanna and Dipankar Datta presented the questions to the Election Commission and the petitioners, seeking clarification on various aspects of the EVMs, including the use of microcontrollers and the storage of EVMs.
- The Supreme Court of India has given a verdict on petitions that sought verification of Voter Verifiable Paper Audit Trail (VVPAT) with Electronic Voting Machines (EVMs).
- The verdict comes at a time when electoral integrity and transparency are of utmost importance. The role of VVPAT in ensuring the accuracy of election results cannot be understated.
- Supreme Court has requested a senior Election Commission of India (ECI) official to address queries surrounding EVMs and VVPATs.
- The court emphasized that presumptions of validity typically apply to official acts under the Indian Evidence Act, cautioning against unwarranted suspicions of actions taken by the Election Commission.
- Guidelines were established for the compulsory verification of VVPAT slips from five randomly chosen polling stations after the conclusion of the final round of vote counting from EVMs.
Monitored Intelligence for India - Jan. 25, 2024
News
Media
377
Government
Releases
6
City/State
Releases
0
Embassy
Releases
5
Foreign
Service
Advisories
0
Service
Advisories
0
Academic/
Think
Tank
11
Think
Tank
11
Podcasts
0
Videos
0
Social
Media
0
Business
Releases
0
Erudite Risk takes an all risks approach to intelligence reporting. We categorize key intelligence into one of 40 different risk intelligence categories.
The goal is to provide intelligence that allows decision makers to avoid being blindsided by what they may have missed, while informing them to make better decisions as well.
Risk Categories Reported on Today
Risk Category
Items Reported On
Communal and Religious Strife
12
Accidents
6
Regulation
3
Geopolitical Conflict and Disputes
6
Political Scandal or Corruption
14
Regulatory Enforcement Actions
5
Crime
5
Strikes and Work Stoppages
1
Extreme Weather Events
2
Epidemics and Pandemics
2
Erudite Risk also includes operations categories so you can monitor the environment for better decision making. Everything is tied together--what happens in risk affects operations and what happens in the market impacts risk profiles.
We categorize key intelligence into one of 30 different operations intelligence categories.
Different roles and functions within the organization can monitor different key issue areas. HR may monitor employment, wages, regulations, labor and management relations, etc., while P&L leaders may monitor overall developing trends.
Operations Categories Reported on Today
Operations Category
Items Reported On
Politics and Elections
8
Operating Results
11
Demographics
1
Mergers & Acquisitions
14
Asset Price Change
1
Political Policy Resistance
2
Bizdev-Partnering
3
Tech Development/Adoption
3
Budgets-Budgeting
1
Trade Issues and Numbers
1
Employment
1
Inflation
1
Taxes
1
Russia strikes Ukraine's energy infra with barrage of missiles
The Economic Times | English | News | April 29, 2024 | Geopolitical Conflict and Disputes
Russia launched a barrage of missiles against Ukraine's energy infrastructure overnight, with attacks targeting facilities in various regions of the country. Ukraine's air force reported that they had shot down 21 missiles, but several energy facilities and power plants were damaged with casualties reported. In response to the attacks, Ukraine has appealed to Western allies for more air defence systems. Additionally, a psychiatric hospital in Kharkiv was damaged, and one person was wounded. Russia claimed to have intercepted Ukrainian drones over the Krasnodar region and the Crimean Peninsula.
EC orders repoll in six booths of Outer Manipur voting on April 30
The Hindu | English | News | April 29, 2024 | Politics and Elections
The Election Commission of India has ordered a repoll in six booths of Outer Manipur constituency due to disturbances reported during the second phase of voting in the Lok Sabha election. The repolling is scheduled for April 30, with instances of voter intimidation and EVM damage leading to irretrievable results. The region remains tense amidst ethnic conflict between the Meitei people and the Kuki-Zo tribe, with violence marking both phases of voting in Manipur.
Lok Sabha Elections 2024 | SAD to contest Gurdaspur LS seat on party symbol for first time since 1996
Deccan Herald | English | News | April 29, 2024 | Politics and Elections
SAD is set to contest the Gurdaspur Lok Sabha seat on party symbol 'takdi' for the first time since 1996 after snapping ties with BJP. BJP has named local leader Dinesh Singh Babbu as its candidate, attributing it to facing negativity in the constituency. SAD has fielded Daljit Singh Cheema, who criticized BJP for fielding movie actors in the past. AAP has fielded Amansher Singh Kalsi from the Gurdaspur seat for the upcoming Lok Sabha elections on June 1.
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