1. Indian diaspora in UK launches 'Modi Express' bus ahead of Modi's November visit
i. The Indian community in the United Kingdom launched a 'Modi Express' bus that will take the travellers on a tour around iconic landmarks ahead of Prime Minister Narendra Modi's maiden visit to the country in November.
ii. Over 400 community organisations have come together to launch the 'Modi Express' for 'Bus Pe Charcha' in London. "We have had 'Chai Pe Charcha' in India, now we will have 'Bus Pe Charcha' in the UK," the 'UK Welcomes Modi' organising committee's Mayuri Parmar said, PTI reported.
iii. The bus, which started its journey on Sunday, stopped at Ealing Road or 'Little India street' in Wembley where the Indian community is planning to host an Olympics style reception for Modi during his visit next month.
iv. The 'Modi Express' bus will then head to Trafalgar Square to celebrate Diwali with the Indian Prime Minister. Modi is expected to address the Indian community at Wembley Stadium on 13 November -- the day of Diwali celebrations.
v. Indian-origin Parliamentarian Keith Vaz also urged people to join him in the tour on 'Modi Express' bus from Leicester. "Even if you've left your oyster cards at home, be sure to bring your 'Modi cards' to join the 'Modi Express' wherever you are," he said.
2. India inks Rs 130-crore deal for 194 microlight aircraft
i. India signed a Rs 130 crore deal for 194 microlight aircraft from Slovenian company Pipistrel Aircraft, for use by its National Cadet Corps (NCC), Air Force and Navy.
ii. The contract was inked by Pipistrel CEO, Ivo Boscarol with the MoD. Talking to FE, Wg Cdr (retd) Sanjay Thapar said: “This is the largest single order for microlight aircraft placed on any aircraft manufacturer in the world.”
iii. With the IAF as the lead agency to evaluate, select and buy these 194 planes, the microlight aircraft chosen for the purchase is the Pipistrel Aircraft’s Virus SW80,” and is tentatively christened the ‘Garuda’ in the Indian service.
iv. At the Defence Acquisition Council meeting chaired by defence minister Manohar Parrikar in July, the nod was given for buying and staggering the microlight aircraft from Slovenian Aircraft manufacturer Pipistrel.
3. Telenor rejigs global team; Sharad Mehrotra to head ops
i. Norwegian telecom major Telenor Group on Monday announced restructuring of Executive Management team to represent all the 13 markets globally, a move aimed at ensuring faster execution of the Group strategy.
ii. Telenor, which has 189 million mobile subscriptions in these 13 markets, will see the India operations being headed by Sharad Mehrotra with effect from November 1. All 13 markets will be represented in the new Executive Management team to ensure faster execution of the Group strategy and a closer connection to the customers, Telenor group said in a statement.
iii. In addition, the company has set up functions of Markets and Technology to improve and develop customer experiences, and to secure networks and IT systems. The Norwegian firm said the current India head Vivek Sood will move to a global role as the EVP and Chief Marketing Officer. Besides, Ruza Sabanovic will be Chief Technology Officer, Wenche Agerup Chief Corporate Affairs Officer and Jon Gravrak as Chief Digital Officer.
iv. Sharad Mehrotra, who has been appointed CEO of Telenor India, was previously serving as Chief Marketing Officer for Telenor Myanmar. He has also been part of Telenor India's management team for more than four years from 2008.
4. Jayakumar takes over as MD and CEO of Bank of Baroda
i. P S Jayakumar, the former chief executive of VBHC Value Homes, on Tuesday took charge as the new MD and CEO of the state-owned Bank of Baroda for three years.
ii. P S Jayakumar, 53, has taken over as the chief of BoB at a time when the bank is under the investigation glare for an alleged fraud and black money transactions worth over Rs 6,000 crore.
iii. Last week, it was alleged that a whopping Rs 6,172 crore was remitted from Bank of Baroda to Hong Kong camouflaged as payments for non-existent imports like cashew, pulses and rice. The amount was allegedly deposited in 59 accounts in cash as advance for imports that never existed.
iv. Jayakumar's new assignment also assumes significance as the government has introduced a significant policy change allowing private sector professionals to head PSBs. In mid-August this year, the government had roped in private sector professionals to run two of its largest banks Bank of Baroda and Canara Bank. Ravi Venkatesan, ex-chairman of Microsoft India, has been appointed the non-executive Chairman of BoB.
5. Infosys appoints Ranganath D Mavinakere as new CFO
i. India’s second largest software services firm, Infosys has appointed Ranganath D Mavinakere as new Chief Financial Officer (CFO). He will succeed Rajiv Bansal who was Executive Vice President (EVP) and the CFO of Infosys and had resigned from the company.
ii. Prior to this appointment, Mavinakere was EVP and head of strategic operations and CEO’s office of Infosys. He has rich experience of about 18 years across banking and IT services industries. In his 15-year career with Infosys, he has held several leadership positions in the company.
iii. Mavinakere worked with ICICI Limited from 1991 to 1999 where he was senior Vice President of Treasury and Planning.
iv. He holds a post graduate diploma in management (PGDM) degree from the Indian Institute of Management, Ahmedabad and M Tech degree in mechanical engineering from the Indian Institute of Technology (IIT), Madras.
6. India funded 5 million US dollars grant to Palestine as Budgetary assistance
i. India on 12 October 2015 granted a cheque of 5 million US dollars to the Palestinian government as a budgetary support. The grant was handed over by Indian President Pranab Mukherjee during his visit to Palestine.
ii. Both countries also announced five projects worth 17.79 million US dollars aimed at capacity building in the Palestinian territories. The projects include a 12 million US dollars techno park, a 4.5 million US dollars Palestine Institute for Diplomacy and a 1 million US dollars India-Palestine Centre for Excellence in Gaza.
iii. Mukherjee also reiterated India’s support to the Israeli-Palestinian crisis based on negotiations with UN Security Council resolutions.
7. Veteran filmmaker I.V. Sasi honoured with J.C. Daniel Award
i. Renowned Malayalam filmmaker I.V. Sasi on 12 October 2015 was awarded with the prestigious J.C. Daniel Award for the year 2014 for his contributions towards the Malayalam entertainment industry.
ii. Sasi has made over 150 Indian films in various languages and genres. However, he is mostly known for his South Indian films.
iii. He started his directorial career officially with his first film Ulsavam. He has directed more than 170 films over a span of 34 years. Most of his movies came out as super hits and some of them are even classified as classics or good cinema.
iv. In 1982, his film Aaroodam won the Nargis Dutt Award for the best feature film on National Integration.