Daily Archives: November 1, 2018
On October 3, the government had set up a seven-member team to replace the earlier board of IL&FS with Bajpai as one of its members and chaired by noted banker Uday Kotak. However, soon after Bajpai’s appointment, proxy advisory firms had red-flagged the government’s decision citing conflict of interest during his association with Kingfisher Airlines.
The Modi government was driven to consider the extreme step of invoking the never-before-used Section 7 of the RBI Act by central bank governor Urjit Patel’s reluctance to engage with stakeholders, according to highly-placed sources. “He was scarce and unavailable to bankers, industry and market players even on matters of pressing concern,” a highly placed source said.
World Championships bronze-medallist Gaurav Bidhuri (56kg) advanced to the finals but former youth world champion Sachin Siwach (52kg) settled for a bronze medal on the penultimate day of the senior men’s National Boxing Championships.