Tag: executives

  • ‘Justified anger’: Senators target executives, regulators in SVB collapse

    ‘Justified anger’: Senators target executives, regulators in SVB collapse

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    2023 0316 finance 10 francis 1

    Brown said the failure of SVB and Signature Bank earlier this month came down to “hubris, entitlement, greed.”

    “Once again, small businesses and workers feared they would pay the price for other people’s bad decisions,” Brown said. “And we’re left with many questions—and justified anger—toward bank executives and boards, toward venture capitalists, toward federal and state bank regulators, and toward policymakers.”

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    #Justified #anger #Senators #target #executives #regulators #SVB #collapse
    ( With inputs from : www.politico.com )

  • CAG extending its outreach to include political executives

    CAG extending its outreach to include political executives

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    New Delhi: The Comptroller and Auditor General of India’s outreach is now being extended to include political executives to highlight audit concerns.

    “The intent is to build a shared understanding of the most pressing concerns in governance and find possible solutions,” Comptroller and Auditor General of India Girish Chandra Murmu said on Wednesday.

    Murmu said that the media is a very powerful tool that adds value to society.

    “In the Indian context, it has helped to disseminate the government’s plans and initiatives. As a probationer, you have to understand the perspective and vision of your department, and it should improve the country’s image in the international arena,” he said this during an orientation programme with the Officer Trainees of the Indian Information Service (IIS).

    The probationers belong to three batches of 2020, 2021 and 2022.

    Murmu stressed that the public has the right to access fair and objective information, whether it is about the government or otherwise.

    “As officers, you should be able to guide the ministries and departments, the dignitaries and functionaries you are going to cover. Here, positioning, marketing and principles will come to play a role. The core of your training is to learn these strategies, and the soft skills to add value to you work,” he said.

    Noticing that most of the officers are from engineering background, Murmu said that technical skills should be used to handle the challenges of future media, especially with emerging self-help AI tools such as ChatGPT.

    He said that the trainee IIS officers should gear up to meet the challenges posed by Big Data and Artificial Intelligence.

    During the Q&A session, one of the probation officers asked Murmu if the CAG, which is the guardian of the public purse, actually enables citizens to know about the government’s expenditure and receipts in an informed way.

    To this, the CAG replied that there are several IEC programmes for raising awareness on social audits.

    Asked whether the perception of the CAG as a paper tiger was true or not, Murmu said “the CAG audits strengthen the accountability of government projects and, thereby, upholds the ideals of democracy”.

    During the day-long session, senior CAG officers took sessions to explain the working of the institution. Deputy CAG, Ila Singh, spoke on the evolution of the CAG and the different types of audits it carries out with the highest professional standards.

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    #CAG #extending #outreach #include #political #executives

    ( With inputs from www.siasat.com )

  • BharatPe appoints 3 top executives amid legal battle with Ashneer

    BharatPe appoints 3 top executives amid legal battle with Ashneer

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    New Delhi: IPO-bound fintech platform BharatPe on Tuesday announced three key appointments, along with hiring Ambuj Bhalla as its Chief Information Security Officer (CISO), as it fights a legal battle with former Co-founder Ashneer Grover in the Delhi High Court.

    BharatPe also announced the appointment of Rahul Bhatia as Head of Internal Audit and Ravinder Oberoi as Head of Compliance.

    “As we focus on getting IPO ready, it becomes essential for us to ensure that data privacy, cyber security, corporate governance and compliance are given the highest priority,” said Shashvat Nakrani, Co-Founder, BharatPe.

    “I look forward to collaborating with all the three leaders as we build BharatPe as a brand trusted by millions across the country,” he added.

    Bhalla has close to two decades of experience with brands like IndiGo Airlines, Reserve Bank Information Technology (ReBIT) and Bharti Airtel, with a strong focus on information security, as well as data privacy and protection.

    Bhatia has about 17 years of experience in the domain of governance, risk and compliance (GRC) in the financial services sector while Oberoi is an industry veteran with close to 23 years of experience in financial services, banking as well as insurance companies.

    Founded in 2018, BharatPe is currently serving 1 crore merchants across more than 400 cities.

    The company is a leader in UPI offline transactions, processing over 18 crore UPI transactions per month (with an annualized transaction processed value of over $24 billion in payments).

    The company has facilitated the disbursement of loans close to Rs 8,500 crore to over 450,000 merchants.

    The fintech platform also received in-principle authorisation from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA).

    Currently, the company is involved in a legal battle with its former Co-founder and managing director Grover, after suing him and his family for allegedly siphoning off company funds worth Rs 88.6 crore.

    The Delhi High Court this month asked Grover’s counsel to advise his client (Grover) to maintain decorum following his termination from the fintech company while hearing a plea filed by the company seeking orders to restrain Grover and his kin from making defamatory statements against the company, and other reliefs.

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    #BharatPe #appoints #top #executives #legal #battle #Ashneer

    ( With inputs from www.siasat.com )