President Ram Nath Kovind has left for a state visit to Bangladesh. He will be the guest of honour at Bangladesh’s 50th Victory Day celebrations.
Indian-origin Leena Nair has joined French luxury fashion house Chanel as its Global Chief Executive Officer. She was the first female and youngest-ever Chief Human Resources Officer of Anglo-Dutch company, Unilever. While making the switch, Leena Nair said that she is humbled and honoured to be appointed as the Global CEO of Chanel. She said that she is so inspired by what Chanel stands for and highlighted that it is a company that believes in freedom of creation and cultivating human potential.
Term of ED Director extended to a maximum of 5 years
The Parliament on December 14, 2021 passed the Central Vigilance Commission (Amendment) Bill 2021 to extend the term of Enforcement Directorate (ED) Director to a maximum of 5 years. The bill seeks to amend the Central Vigilance Commission Act 2003. The ED Director is currently appointed for a term of two years. The centra had moved an ordinance on the same on November 14, 2021 that had received the President’s assent as well. The bill repeals the Central Vigilance Commission (Amendment) Ordinance 2021.
SII to develop COVID vaccine booster shot more effective against Omicron
Serum Institute of India’s CEO Adar Poonawalla said on December 14, 2021 that they are working towards developing a vaccine booster shot that is more effective against the new Omicron COVID variant. He said that booster shots are a proven strategy to increase antibodies against COVID-19. He also informed that vaccines for children above 3 years will be launched in the next 6 months.
Prime Minister Narendra Modi will lay the foundation stone of the Ganga Expressway project in Shahjahanpur district on December 18, 2021. The 594 km long expressway will also have an airstrip for emergency landing and takeoff of Air Force aircraft. More than half of the expressway will pass through Uttar Pradesh’s Meerut, Bulandshahr, Hapur, Amroha, Budaun, Sambhal and Shahjahanpur districts. It will connect eastern Uttar Pradesh to western Uttar Pradesh and will also connect with the National Capital Region.
RBI introduces corrective action framework for NBFCs
The Reserve Bank of India on December 14, 2021 issued the Prompt Corrective Action (PCA) framework for the Non-Banking Financial Companies (NBFCs). The framework will come into effect from October 1, 2022 based on the financial position of NBFCs on or post-March 31, 2022. RBI said that a separate circular will be issued regarding the applicability of the framework to the government NBFCs.
Nepal PM Sher Bahadur Deuba wins Election of President of Nepali Congress
Nepal Prime Minister Sher Bahadur Deuba has won the election of the President of Nepali Congress during the party’s General Convention. He won 2733 votes while his contender Shashank Koirala won 1855 votes out of the total 4623 votes. Out of the total votes, 35 votes had been cancelled for various reasons.