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India’s ruling party <keyword id="14666" type="ORGANIZATION" weightage="100" keywordseo="BJP">BJP</keyword> tried to steer away from giving an appropriate reaction to all the slurs that senior party leader <keyword id="6370187" type="PERSON" weightage="100" keywordseo="Subramanian-Swamy">Subramanian Swamy</keyword> hurled against Narendra Modi government's chief economic advisor (CEA) <keyword id="6355547" type="PERSON" weightage="100" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword>. 
 
Here is what Swamy had tweeted about Arvind Subramanian: 
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Who said to US Cong on 13/3/13 the US should act against India to defend US Pharmaceuticals interests? Arvind Subramanian MoF !! Sack him!!!
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745429777234825216">June 22, 2016</a></blockquote>

<blockquote class="twitter-tweet" data-lang="en">
	
		Guess who encouraged Congi to become rigid on GST clauses ? Jaitely's economic adviser Arvind Subramanian of Washington DC
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745439703013302273">June 22, 2016</a></blockquote>
The BJP, however, stayed away from commenting on his public disapproval by calling it as his personal opinion. 
 
"That's his opinion. We do not have to say anything," BJP spokesperson Gopal Krishna Agarwal told <a href="http://economictimes.indiatimes.com/news/politics-and-nation/bjp-fumbles-over-swamys-attack-on-modi-governments-chief-economic-advisor/articleshow/52865205.cms">ET</a>. 
 
"This is his statement. You can ask him, he is an MP. Party has nothing to say on this," Agarwal added. 
 Party leaders struggled to exude confidence in what was called his "individual opinion," because of the credibility that Swamy has attained after his public attack on RBI Governor <keyword id="6358908" type="PERSON" weightage="100" keywordseo="Raghuram-Rajan">Raghuram Rajan</keyword>. 
 
<a href="https://i.ytimg.com/vi/ehibLNo6J2k/maxresdefault.jpg">Image source</a>

BJP tries to steer away from Swamy's slurs against Modi’s chief economic advisor

After attacking <a href="http://www.businessinsider.in/searchresult.cms?query=raghuram+rajan&amp;sortorder=effectivedate">RBI Governor Raghuram Rajan</a>, who confirmed he will not go for second term, BJP MP <a href="http://www.businessinsider.in/searchresult.cms?query=subramanian+swamy&amp;sortorder=effectivedate">Subramanian Swamy</a> now has a new target. 
 Now, he wants India’s Chief Economic Adviser <keyword id="6355547" type="PERSON" weightage="20" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword>, a PM Narendra Modi-appointee, to be sacked. 
 
Swamy claimed that Subramanian had recommended that the US government act against India through the <a href="http://www.businessinsider.in/searchresult.cms?query=WTO&amp;sortorder=effectivedate">WTO</a> over its pharmaceutical IPR regulations. 
 
In a series of tweets, Swamy alleged that Subramanian encouraged Congress to remain adamant on <a href="http://www.businessinsider.in/searchresult.cms?query=GST&amp;sortorder=effectivedate">GST</a> clauses. Swamy said he was helping Finance Minister Arun Jaitley in identifying his enemies. 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Who said to US Cong on 13/3/13 the US should act against India to defend US Pharmaceuticals interests? Arvind Subramanian MoF !! Sack him!!! — <keyword id="6370187" type="PERSON" weightage="20" keywordseo="Subramanian-Swamy">Subramanian Swamy</keyword> (@Swamy39) <a href="https://twitter.com/Swamy39/status/745429777234825216">June 22, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Guess who encouraged Congi to become rigid on GST clauses ? Jaitely's economic adviser Arvind Subramanian of Washington DC
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745439703013302273">June 22, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Now PTs can understand why our core economic sectors could not perform last two years. Trojan horses galore in MoF/ Fin Institutions
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745466119461314563">June 22, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		<a href="https://twitter.com/omsinghis">@omsinghis</a> : I am helping Jaitely to recognise the enemies in our camp.
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745478227594883072">June 22, 2016</a></blockquote>
 
Subramanian had made that recommendation to the US Congress in a written testimony, which was submitted in March. 
Also, he had sought changes in Indian patent law. 
 
"If India does not address the problems created by Section 3(d) of the patent legislation or by compulsory licensing for nonworking, the United States should consider initiating WTO disputes against India," read Subramanian's testimony to the US Congress. 
 
Earlier, Swamy had accused Rajan on anti-national intentions. 
 
READ ALSO: <a href="http://www.businessinsider.in/Swamysays-Raghuram-Rajan-is-leaking-secrets-and-defending-US-power-gives-Modi-6reasons-to-sack-him/articleshow/52450672.cms">Swamy says Raghuram Rajan is leaking secrets and defending US’ power, gives Modi 6 reasons to sack him</a> 
 
READ ALSO: <a href="http://www.businessinsider.in/Subramanian-Swamy-is-stepping-up-the-political-ladder-and-how/articleshow/52850894.cms">Subramanian Swamy is stepping up the political ladder and how</a>

Subramanian Swamy now wants India’s chief economic adviser to be sacked

New Delhi, May 15 () Realty firm Mahindra Lifespace Developers on Friday said it has appointed Arvind Subramanian as Managing Director and Chief Executive Officer of the company with effect from July 1. The board approved the decision in its meeting on Thursday. He will succeed Sangeeta Prasad who resigned on February 7 this year. She had worked with the Mahindra group for over 11 years. Arvind joined the company as Chief Executive Officer of Mahindra Happinest, the affordable housing business, in September 2018. Arun Nanda, Chairman, Mahindra Lifespaces Developers said, the company is poised for strong growth in a rapidly consolidating market. At Happinest, Subramanian has demonstrated his ability to imagine and engineer a new future for the sector, for the company and for our customers. Subramanian has over 23 years of experience, starting his professional career with the Tata Administrative Service, the central management cadre of the Tata Group. He spent close to 15 years with the Boston Consulting Group (BCG) where he was a Partner and Managing Director. Prior to joining the Mahindra Group, Subramanian was Regional CEO at a leading real estate developer. He holds an MBA degree from the Indian Institute of Management, Ahmedabad, and a BTech degree from Indian Institute of Technology, Madras. Established in 1994, Mahindra Lifespace Developers is the real estate and infrastructure development business of the USD 20.7 billion Mahindra Group. MJH ANSANS

Mahindra Lifespace appoints Arvind Subramanian as MD, CEO

(Photo Source : flickr.com) <ul><li>The Indian government is said to be considering <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword> lead economist <keyword id="172342" type="PERSON" weightage="20" keywordseo="Poonam-Gupta">Poonam Gupta</keyword> for the role of Chief Economic Advisor (CEA). </li><li>The position became vacant after <keyword id="6355547" type="PERSON" weightage="20" keywordseo="arvind-subramanian">Arvind Subramanian</keyword> left the role months before his term was to expire . </li><li>A government search committee is said to be looking at other candidates as well. </li></ul> The Indian government is said to be considering World Bank Lead Economist Poonam Gupta to fill the role of Chief Economic Advisor (CEA), Economic Times reported. If confirmed, Gupta would become the first woman to hold the position. Prior to joining World Bank in 2013, Gupta was <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank Of India</keyword> Chair Professor at National Institute of Public Finance and Policy. The government’s search committee is also said to be considering other names including Sajjid Chinoy, chief India economist at JPMorgan, and Krishnamurthy Subramanian, a professor at the Indian School of Business. India is seeking to fill the position after the abrupt resignation of Arvind Subramanian who left several months before his tenure as the government’s Chief Economic Advisor was to expire. Subramanian reportedly left because of “<a href="https://www.facebook.com/notes/arun-jaitley/thank-you-arvind/804077679780782/">pressing family commitments</a>.” He had been appointed as the CEA to the India’s finance ministry in October 2014. Even though there are only six months remaining for the upcoming general elections, the Indian government has been looking for a ‘fresh face’ to seek expert advice amid global turmoil, according to the report. The Finance Ministry <a href="https://economictimes.indiatimes.com/news/economy/policy/government-likely-to-appoint-new-chief-economic-advisor-in-next-1-2-months/articleshow/66281908.cms">appointed</a> a search committee in October headed by former Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> governor <keyword id="90390" type="PERSON" weightage="20" keywordseo="Bimal-Jalan">Bimal Jalan</keyword>, who has been asked to shortlist suitable candidates.

India could soon have its first woman Chief Economic Advisor: Report

New Delhi, Dec 20 () Former Chief Economic Adviser Arvind Subramanian on Friday said there is no space for expansionary fiscal policy and opined against reducing personal income tax rate.
 "...no space to have expansionary fiscal policy. There's a lot of talk about personal income tax cut and raising GST rates, and I would be categorically against the both, we do not have the space," he said at an event here.
 Subramanian further said that he thinks personal income tax cuts motivated by desired increased consumption are highly inequitable.
 Any cut in personal income tax, he said, will benefit the only top 5-7 per cent people, who are actual taxpayers.
 "So if you want to boost consumption it has to be something much more, which actually reaches much poorer people. It has to be some kind of DBT (direct benefit transfer) or universal basic income (UBI)," he said.
 Reminding that all the countries that are developed have more number of tax payers in their respective systems, he said adding that it is beneficial in the long term.
 While on the other hand opposing GST rates hike, the former CEA said that it will affect the consumption and a slowdown or a recession is not the time to be embarking on (such options).
 "You can't have too much expansionary fiscal policy but equally you can't be crunching government demand at a time when the economy is weak and in stress," he added.
 India's economic growth fell to the lowest in more than 6 years at 4.5 per cent during the second quarter ended September of the current fiscal due to slowing demand as well as fall in output, exports among others. In the first quarter ended June of 2019-20, the economy grew by 5 per cent, which was the lowest in six years.
 On the GST front, the government earlier this week fixed a uniform tax rate of 28 per cent on both state and private lotteries, which is to come to effect from March 2020.
 In the previous various meetings of the GST Council, the government has cut the rates on various services and goods, amidst GST collections remaining below expectations, with an aim to boost demand.
 Amid concerns that the government may fall short of tax collection target in a slowing economy, the government has set an ambitious Rs 1.1 trillion monthly GST target for the remaining four months of the current fiscal and asked taxmen to step up efforts to achieve the goal. KPM MKJ

No space for expansionary fiscal policy: Ex-CEA Arvind Subramanian

Just days after the <keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword> presented the <keyword id="2609226" type="UNKNOWN" weightage="80" keywordseo="Union-Budget-2015">Union Budget 2015</keyword>, the <keyword id="6354335" type="CITY" weightage="80" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (<keyword id="30067" type="ORGANIZATION" weightage="80" keywordseo="RBI">RBI</keyword>) today lowered its policy repo rate by 25 basis points to 7.5%. Following this surprise by India’s apex bank, Chief Economic Advisor <keyword id="6355547" type="PERSON" weightage="80" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword> asserted that the global <keyword id="113124" type="UNKNOWN" weightage="80" keywordseo="rating-agencies">rating agencies</keyword> should consider upgrading their stance on the credit outlook of the country. 
 "Now we have a 50 basis points rate cut (in two tranches within two months) and I think that is good for the <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> and all rate cuts benefits... If the outlook is looking good, the rating agencies should draw their lessons from that on improving the outlook," a PTI report quoted Subramanian as saying. 
 
However, after the presentation of budget for the upcoming fiscal, global and domestic agencies had ruled out any immediate upgrade in India's sovereign ratings. 
 
"It (rate cut) shows that RBI and government are on the same page in terms of how we view the economy. It also means that Budget can be seen as conducive to non-inflationary growth," said Subramanian. 
 Revealing about the on monetary policy framework agreement, Subramanian informed that both the Ministry of <keyword id="25455" type="ORGANIZATION" weightage="80" keywordseo="finance">Finance</keyword> and Reserve Bank of India have expressed apprehension about rising prices. 
(Image: The Economic Times)

After RBI’s surprise rate cut, Govt wants rating agencies to mellow down

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Anindito Mukherjee/ReutersArvind Subramanian speaks at the Global Business Summit in New Delhi, January 17, 2015.</div></div></div>Speaking to students at a recent event, the chief economic advisor to the Government of India <a href="http://basicincome.org/news/2016/09/india-government-economic-survey-address-ubi/">expressed support</a> for a radical system of wealth distribution known as universal basic income.Under the system, all citizens of a given society would receive a standard amount of money to ensure they could pay for essential items like food, clothing, and shelter.If everyone had enough money to survive and contribute to society, the thinking goes, governments could eliminate poverty altogether.Arvind Subramanian, speaking at an outreach event in the city of Bhubaneswar, fielded a student's question about basic income. The student wondered whether, given the growing popularity of basic income in Kenya, Switzerland, <a href="http://www.techinsider.io/finlands-plan-to-give-everyone-free-money-2015-11">Finland</a>, the Netherlands, <a href="http://www.businessinsider.com/ontario-announces-basic-income-plan-2016-3">Canada</a>, and <a href="http://www.businessinsider.com/inside-y-combinators-basic-income-project-2016-6">the US</a>, India might be next. The country has in fact <a href="http://isa-global-dialogue.net/indias-great-experiment-the-transformative-potential-of-basic-income-grants/">already seen small pilots</a> of the system lead to positive outcomes.Subramanian told the student that basic income will play a major role in the next Economic Survey, an annual document presented to parliament that outlines the country's financial health and makes suggestions for the future."People are dragged into poverty due to droughts, declining agriculture opportunities, disease, and so on," he said, <a href="http://timesofindia.indiatimes.com/city/ahmedabad/Universal-Basic-Income-key-to-tackle-poverty-Arvind-Subramanian/articleshow/54649881.cms?from=mdr">according to the Times of India</a>. "So the safety net provided by the government should be quite wide, and that is why this [basic income] has some merit."Subramanian said basic income will be one of the big topics he and the other ministers of finance address in the survey.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Amit Dave/Reuters</div></div></div>Despite being the second-most-populous country on Earth, India could likely implement a basic income policy relatively cheaply due to the low costs of living there. The median income in the country falls somewhere around $900 a year, compared to $52,000 in the US.Subramanian cautioned that the idea of basic income still lives mostly in the world of hypotheticals, however. "Both in terms of politics and economic[s] there is a whole range of very important things we have to look into, and are going to look at, very carefully," he said, <a href="http://economictimes.indiatimes.com/news/economy/policy/next-economic-survey-might-float-universal-basic-income-balloon/articleshow/54015451.cms">according to the Economic Times</a>.A massive 12-year basic income trial <a href="http://www.businessinsider.com/givedirectly-gives-kenyans-basic-income-2016-4">is now underway in Kenya</a>, where thousands of people are receiving a set income of about $0.75 a day.As more data come in, India and other countries around the world will have more ammunition to conduct ambitious experiments of their own. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/rickshaw-run-adventure-2000-miles-across-india-2016-5">A crazy adventure takes people more than 2,000 miles across India in a rickshaw</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="YxNWdwMzE6cp4z9uWHMuQ5EmjjXdyvwa" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

India's highest-ranking economist just announced his support for universal basic income

The <keyword id="6354872" type="ORGANIZATION" weightage="20" keywordseo="Economic-survey">Economic Survey</keyword> 2017 states once the cash is pumped back in the system, the economy will be back to what it was. The annual document which outlines the growth of the Indian economy projected GDP in the range of 6.75-7.5%. 
 The survey, drafted by Chief Economic Adviser <keyword id="6355547" type="PERSON" weightage="20" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword>, pointed out that <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> has pushed the <keyword id="6357550" type="UNKNOWN" weightage="20" keywordseo="Digitisation">digitisation</keyword> to rise exponentially and also highlighted both the long term and short term effects of it. Here are the effects of demonetisation highlighted in the survey

Eco Survey: Real impact of demonetisation in short and long term

After RBI Governor Raghuram Rajan pinned hopes on Budget loaded with reforms and less spending, the work for Finance Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>’s team becomes even more thoughtful and nail biting. 
 
But nothing to worry about as Jaitley has a reliable team, which can come out with flying colours. 
 Here’s a sneak peek into his team for <keyword id="2783177" type="UNKNOWN" weightage="20" keywordseo="Budget-2016">Budget 2016</keyword> 
 
Chief Economic Advisor Arvind Subramanian 
 
In the last budget, Arvind Subramanian’s idea of increased public expenditure was adopted and well executed. This time, he is planning to change the fiscal consolidation road map and continue with public spending. He will also make sure to meet the pay panel’s suggestions. 
 
Secretary, Department of Financial Services Anjuly Chib Duggal 
 
In the backdrop of Indra Dhanush plan, the finance minister will keep the steam building in banking sector reforms. Duggal would be assisting in reducing bad loans in the banking sector and give a boost to Jan Dhan-Jan Suraksha scheme. 
 
Secretary, Department of Economic Affairs Shaktikanta Das 
 
Das is not new in budget making process and is entrusted to trigger private investments. He will also ensure to pack a budget laden with economic reforms. 
 
Secretary, Department of Revenue Hasmukh Adhia 
 
He is the man to look out for regarding changes in direct taxes, reducing exemptions and reduction in corporate tax rate. 
 
Finance Secretary Ratan P Watal 
 
He has seen India's economic architecture change with 1991 reforms as private secretary to the then Prime Minister Narasimha Rao. Watal controls the spending and hence he will see if funds are there to meet the pay panel suggestions. 
 
Secretary, Department of Disinvestment Neeraj Kumar Gupta 
 
The Indian government is likely to miss the Rs 69,500 crore divestment target. With disinvestment become even more crucial, Gupta as a tough task to handle. 
 
(Image: Indiatimes)

Here is Arun Jaitley's dream team which is working on Budget 2016

With retrospective <a href="http://www.businessinsider.in/budget-2016/tax">taxation</a> continuing to rile foreign investors, the Budget tomorrow may look to address their concerns with a view to resolving the legacy issues. 
 Chief Economic Advisor <keyword id="6355547" type="PERSON" weightage="20" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword> said that the present government is taking "consistent steps" to deal with the legacy tax issues to regain investor confidence. 
 
"Slowly, slowly they (government) are cleaning up the legacy issue. I think they will continue to do so going forward and hopefully so in the Budget. It's a long drawn agenda that we need to clean up tax system," he said. 
The continuation of multi-billion dollar tax liability imposed by the previous UPA government using a retrospective legislation, has been a matter of concern for foreign investors who had hoped that the BJP government will quickly resolve them. 
 
 
Earlier this month, the tax department took the unusual step of sending a reminder notice to Vodafone for payment of Rs 14,200 crore of taxes on an issue that is under arbitration. 
 
Even after two years, the arbitration in the <a href="http://www.businessinsider.in/searchresult.cms?query=Vodafone+">Vodafone</a> case has not yet started in absence of appointment of a presiding judge on a three member arbitration panel. 
 
The Rs 10,247 crore tax issue of Cairn Energy Plc of UK could manage to get a full panel constituted, even though the process started much later than Vodafone, only after the issue was brought to the notice of Prime Minister's Office. 
 Both Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> and Finance Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Arun+Jaitley+">Arun Jaitley</a> have repeatedly stated that no new tax liability would be created using the retrospective law, the lingering of the disputes has not gone down well with foreign investors. Many of them had hoped that the government may use the A P Shah panel that had sorted out the contentious issue of levy of <keyword id="73398" type="ORGANIZATION" weightage="20" keywordseo="MAT">MAT</keyword> on capital gains made by FPIs and FIIs, to resolve these legacy issues. 
 
A top executive at a foreign company the easiest way to resolve these issues is to refer the pending cases to the Shah panel as they had done in the MAT issue and implement its recommendations. 
 
Subramanian said the government had proactively resolved the MAT issue and is working to do so for the remaining legacy issues.

Budget
2016 may address retrospective tax concerns, says Chief Economic Advisor Arvind Subramanian

From the Indian Parliament to the Reserve Bank of India, to startup unicorns, this year was especially rife with high-profile resignations, giving fuel to ongoing controversies. Here are the top departures that left the country in surprise: 1. <keyword id="6375119" type="PERSON" weightage="20" keywordseo="urjit-patel">Urjit Patel</keyword> <div type="image" title="Urjit patel" tempid="286964" msid="67322946" hostid="261"></div>
 In December, Urjit Patel announced his resignation from his role as the governor of the Reserve Bank of India citing ‘personal reasons’ amid differences between the central bank and the Indian government. While many top politicians and academicians in the country have been citing different reasons for ‘why’ Urjit Patel abruptly resigned from his post, many believe it was the tensions between the RBI and the government, particularly the latter’s moves that threaten the central bank’s independence that led to his departure. Patel has subsequently been replaced a former government official Shaktikanta Das. 2. <keyword id="6355547" type="PERSON" weightage="20" keywordseo="arvind-subramanian">Arvind Subramanian</keyword> <div type="image" title="Arvind" tempid="286980" msid="67322947" hostid="261"></div>

(Image Credits- IANS) India’s Chief Economic Advisor Arvind Subramanian resigned from his position in Finance Ministry on 20th June citing ‘pressing family commitments.’ Krishnamurthy Subramanian was <a href="https://www.businessinsider.in/indian-government-appoints-krishnamurthy-subramanian-as-its-new-chief-economic-advisor/articleshow/66987414.cms">appointed</a> as the new CEA after the post was left vacant for nearly six months. Months after quitting his post, Subramanian in his recently-launched book ‘Of Counsel’ <a href="https://www.businessinsider.in/demonetisation-was-a-massive-draconian-monetary-shock-says-narendra-modi-governments-former-chief-economic-advisor-arvind-subramanian/articleshow/66860962.cms">commented</a> on the government’s demonetisation policy calling it “a massive, draconian, monetary shock” that took a hit on the Indian economy. 3. <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> <div type="image" title="binny-bansal1" msid="67322928" hostid="261"></div>

(Image Credits-Wikimedia.org) Indian e-tail major Flipkart Group's Chief Executive Officer (CEO) Binny Bansal parted ways with the company on 13th November following the allegations of ‘personal misconduct’. Bansal announced his resignation, effective immediately, following an independent investigation by Flipkart and Walmart against him. However, Binny Bansal has strongly denied all the accusations against him. He is reportedly launching a tech startup to provide technology tools, learning and consulting services to growth-stage ventures, ET <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/binny-bansal-former-flipkart-executive-to-launch-new-startup/articleshow/67085632.cms">reported</a>. 4. M.J Akbar <div type="image" title="907c8b2772a84537d8c711eba43627b2" tempid="287008" msid="67322948" hostid="261"></div>
 (Image Credits-IANS) The #Metoo movement forced the Minister of State for External Affairs, MJ Akbar, <a href="https://www.businessinsider.in/too-little-too-late-indian-government-reacts-to-metoo-by-forming-a-panel-to-review-sexual-harassment-laws/articleshow/66347468.cms">to put down his papers days </a>after several of his former female colleagues accused him of sexual harassment. The campaign gathered much attention from people across India with many women coming forward to reveal sexual predators at workplaces, especially in the media industry. 5. <keyword id="6397414" type="UNKNOWN" weightage="20" keywordseo="Ananth-Narayanan">Ananth Narayanan</keyword> <div type="image" title="ananth-narayan" tempid="287014" msid="67322949" hostid="261"></div>
 Myntra’s Chief Executive Officer (CEO), Ananth Narayanan,<a href="https://www.businessinsider.in/myntra-is-in-the-middle-of-a-management-shakeup-after-key-leaders-resign-in-succession/articleshow/67043730.cms"> stepped down</a> from his position in the company within a month after denying speculation about his resignation, following Binny Bansal’s exit from parent Flipkart. Following his resignation other high-ranked officials including Mithun Sundar, Chief Revenue Officer (CRO), and Manpreet Ratia, Head for Human Resources, also resigned from their respective role in the company. 6. Chanda Kochhar 
 <div type="image" title="95b438c9e8e160e4d9704c9dc628ce2a" tempid="287133" msid="67322950" hostid="261"></div>

In October, Chanda Kochhar resigned as the CEO and Managing Director of India’s largest private sector bank, ICICI Bank. Kochhar had been sent on indefinite leave amid a corporate governance <a href="https://www.businessinsider.in/its-the-end-of-the-road-for-chanda-kochhar/articleshow/66082441.cms">scandal</a> that led to an independent judicial investigation into alleged misconduct and dealings with Videocon. Kochhar was facing allegations of conflict of interest while making a loan to Venugopal Dhoot, the promoter of Videocon Group. 7. <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword> 
 <div type="image" title="5e96e735b844a0506c8cd17e3f2bbc9d (1)" tempid="287157" msid="67322951" hostid="261"></div>

The co-founder and chief executive of Yes Bank, Rana Kapoor, was reportedly asked by the Reserve Bank of India to put in his papers by January 2019. Kapoor had been working as the managing director and CEO since the bank started its operations in 2004. RBI decided not to extend the tenure of Rana Kapoor amid alleged corporate governance lapses and under-reporting of non-performing loans. The central bank further instructed Yes Bank to look for his successor. His resignation led to a crash in the bank’s shares. However, last month, its non-executive chairman, Ashok Chawla, also <a href="https://www.businessinsider.in/yes-banks-problems-get-further-compounded-as-its-chairman-is-forced-to-resign-amid-a-corruption-probe/articleshow/66634836.cms">resigned</a>, further exacerbating matters for the bank who had been tasked with bringing back stability to the institution.

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