A political boiling pot
When the Board of Directors of Amul (Gujarat Cooperative Milk Marketing Federation Ltd) terminated MD RS Sodhi’s services, not many could buy this sudden decision. Speculation filled the air as there was no convincing statement on Sodhi’s ouster. Though the 62-year-old dairy veteran’s resignation was imminent given that he was on extension since December 2020, the dairy sector, political circles and the media were abuzz with uncorroborated theories on Sodhi — about appointment of unauthorised agents in export markets, kickbacks, and functioning at the organisation.
But striking was a political angle that said his decisions benefited sympathisers of BJP’s opponents in Aam Aadmi Party. After last month’s Gujarat assembly polls and the landslide win for the saffron party, the timing of Sodhi’s ouster and the allegations point at the politics that has kept the pot boiling at Amul.
To make its retail service even more attractive, Bharat Petroleum Corporation Ltd, a ‘Maharatna’ and a Fortune Global 500 company, has launched its first café outlet — ‘BeCafe – Brewing Journeys — at Haldwani, Uttarakhand, en route major tourist locations along the Nainital, Bhimtal corridor.
The café will be the first of the proposed 20 BeCafés that are scheduled to come up in strategic retail outlets in the northern region, along prominent highway corridors. The company has plans to have 50 such outlets in FY23.
BeCafé is the company’s “Highway to Non Fuel Business”, thus enabling it to gain entry into the high margin F&B segment.
Party members of both the ruling DMK and the local BJP in Tamil Nadu wait for an opportunity to take a dig at each other. But this time it was back-to-back aggression against the BJP. Recently, DMK members took on the State BJP President Annamalai for allegedly wearing an expensive Rafale watch, questioning his capacity to buy one when he is a farmer. And the latest is on the alleged opening of the ‘emergency’ door in an aircraft by Karnataka BJP parliamentarian Tejasvi Surya.
DMK MLA TRB Rajaa tweeted, “Wonder which aircraft has an emergency exit which needs to be unscrewed.” More exchanges can be expected from both sides in the run up to Parliament elections in 2024.
All eyes are on the government to see when the final notification appointing a Managing Director and CEO of Canara Bank, a leading public sector bank, will get issued. The bank has been headless since January 1 after the erstwhile MD and CEO LV Prabhakar demitted office on December 31. The Financial Services Institutions Bureau (FSIB), which does the search for bank CEO posts, had in November last year recommended K Satyanarayana Raju, who is an Executive Director with Canara Bank, for the MD and CEO post.
With the final notification yet to be issued, there is now chatter in banking circles as to why the appointment is getting delayed. More so because three weeks have lapsed since the post became vacant! Is there now a rethink in government on the candidate or is it just bureaucratic processes that are delaying it? Several economy watchers and bankers are keenly watching the space.