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The largest bank in the private sector in India, <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, has appointed <keyword id="2891027" type="UNKNOWN" weightage="20" keywordseo="MK-Sharma">MK Sharma</keyword> as its non-executive chairman. MK Sharma will take charge from <keyword id="396965" type="ORGANIZATION" weightage="20" keywordseo="KV-Kamath">KV Kamath</keyword>, who will step down soon as he has been nominated as the first president of the BRICS development bank. 
	 The bank in its filing with the BSE said that Sharma will take charge from July 1 and will continue on the board for tenure of five years. It should be noted that Sharma previously served as an independent director on the bank’s board from 2003 to 2011. He was the former vice chairman of FMCG giant Hindustan Unilever (<keyword id="44863" type="CITY" weightage="20" keywordseo="HUL">HUL</keyword>). 
	 
	Image Credit: Indiatimes.com

Former HUL vice chairman MK Sharma appointed as non-executive
chairman of ICICI Bank

<keyword id="6653" type="CITY" weightage="100" keywordseo="ICICI-bank">ICICI Bank</keyword>’s newly appointed chairman <keyword id="2891027" type="UNKNOWN" weightage="100" keywordseo="MK-Sharma">MK Sharma</keyword> criticised the “poorly-drafted” Companies Act and said that tightening of norms has made it a "curse" to be a promoter and everyone is being made to pay because of a few cases like Satyam and Sahara. 

	Sharma said there is an urgent need to completely re-write the Act as it lays stress on regulations rather than playing a developmental role and it appears to have been written for lawyers and chartered accountants, rather than for companies. 
 

	Talking about the enhanced compliance procedures, Sharma said it is a "curse" to be a promoter in the current times, while cap imposed on directorships has also increased the compliance requirements for individual board members. 
 

	Sharma, who himself has been on various boards, said every document has to be read from cover to cover and called the scope for action against directors as a "frightening feature" given the fact that an audit committee on which the director may sit meets only five times a year. 
 

	"A law should not seek to regulate the black-sheep. You must deal with them through penal action. Just because one Satyam happened and one Sahara happened, everyone else has to play penalty for that," he said. 
 Sharma, who was appointed non-executive chairman in June after his predecessor K V Kamath became first President of the recently launched <keyword id="989539" type="COMPANY" weightage="100" keywordseo="BRICS-Bank">BRICS Bank</keyword>, said that various stakeholders including the industry, ICAI and ICSI should be consulted again for rewriting the legislation. 

	"The law seems to have been drafted for lawyers and some chartered accountants and less for corporates. It is a very poorly-drafted piece of legislation...it is very unfortunate," Sharma said. 
 

	The Companies Act, 2013 came into force from April 1, 2014 after intensive consultations over several years to replace a nearly six-decade-old Companies Act, 1956. The new law has introduced a number of provisions to tighten corporate governance norms, check frauds and safeguard the investors. 
 

	However, the government has made various changes in this law in recent months to make compliance easier for companies. 
 Sharma, who has been a veteran in the financial services and <keyword id="34523" type="CITY" weightage="100" keywordseo="fmcg">FMCG</keyword> industries, further said that rather than taking corrective actions on a few points, which discomfort the industry, there is a need to completely re-write the law. 

	"A law must equally play a developmental role as it plays a regulatory role," he said. 
 

	Citing the example of Titan Industries, Sharma said the company was forced to suffer reverses due to a provision under which it could not keep deposits for over a year. 
 This forced the <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata group</keyword> company to liquidate all of their deposits resulting in heavy losses, he said, expressing a fear that travel companies who give over 20-year packages can suffer the same as the money taken for the future can be treated as a deposit. 

	On RBI, Sharma said he is all for the autonomy of the central bank but refused to elaborate further on the controversy triggered by the recent draft IFC.

	 
	 
	(Image credits: Indiatimes)

ICICI Bank's Chairman asked “poorly-drafted” Companies Act to
be rewritten

The Bharatiya Janata Party has been reduced to single digits in Delhi as per the trends at 9 pm. Aam Aadmi Party has won 62 out of the 70 assembly seats. BJP has won at 8 seats Vijendra Gupta from Rohini seat, Satprakash Rana from Bijwasan seat, OP Sharma from Vishwas Nagar, Anil Bajpai from Gandhi Nagar, Sanjay Goyal from Shahdara seat, Jitendra Mahajan from Rohtas Nagar, Ajay Mahawar from Ghonda and Mohan Singh Bisht from Karawal Nagar assembly seat. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Constituency Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BJP Candidate Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Status </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rohini </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vijendra Gupta </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Badarpur </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rambir Singh Bhiduri </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Laxmi Nagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Abhay Kumar Verma </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vishwas Nagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">OP Sharma </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gandhi Nagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Anil Bajpai </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rohtas Nagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Jitendra Mahajan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ghonda </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ajay Mahawar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Karawal Nagar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mohan Singh Bisht </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Won </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/politics/elections/news/arvind-kejriwals-in-has-lessons-for-mamata-banerjee-mk-stalin-and-lalu-prasad-yadav/articleshow/74082357.cms">Kejriwal's spectacular win has five lessons for Rajinikanth, Mamata Banerjee, MK Stalin, and Lalu Yadav</a> 
 
 
 
 
 
 
 
 <div type="Article" hostid="261" msid="74066220" title="Delhi election result 2020: AAP leads with 63 seats, Raghav Chadha wins from Rajinder Nagar" mstype="2" mssubtype="0"></div>

BJP winner candidate list for Delhi Assembly Election 2020

<ul><li>The number of live online viewers at any point for the World Cup have been far below the peak registered by the recently concluded Indian Premier League (IPL).</li><li>The concurrent users on <keyword id="2739840" type="PERSON" weightage="20" keywordseo="Hotstar">Hotstar</keyword> for World Cup matches are between 2 million and 8 million compared to the peak of over 18 million during the IPL. </li><li>Hotstar, during IPL, alone had garnered an excess of 300 million unique users and was betting on bigger numbers from the World Cup. </li><li>According to reports, Indian businesses are reportedly spending ₹10-₹12 billion during the World Cup on advertising. </li></ul>When India’s star batsmen like <keyword id="6354486" type="UNKNOWN" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword>, Shikhar Dhawan, and Rohit Sharma out-batted Australia at the <keyword id="149598" type="ORGANIZATION" weightage="20" keywordseo="ICC-Cricket-World-Cup">ICC Cricket World Cup</keyword> 2019, as many as 7 million people at any given point were watching it live on Hotstar, Walt Disney’s streaming platform with exclusive online streaming rights to the tournament. During other matches – sometimes, even when India is bowling – the viewer numbers dropped significantly, to less than half of it. This outsized interest in team India is the source of the clout of BCCI (Board of <keyword id="1521" type="CITY" weightage="20" keywordseo="Cricket">Cricket</keyword> Control in India) at the International Cricket Council (ICC). This was what Hasan Minhaj highlighted in his Netflix show, Patriot Act. Both the ICC Cricket World Cup and the Indian Premier League (IPL) bring in billions in ad revenues and sponsorships, and millions in viewership. However, it seems like this edition of the World Cup is off to a slow start. Star vs Hotstar The opening World Cup match between England and South Africa clocked a reach of 114 million on television alone, according to a <a href="https://economictimes.indiatimes.com/news/sports/icc-world-cup-opening-match-records-reach-of-114-million-viewership/articleshow/69678607.cms">report</a>. According to <a href="https://www.business-standard.com/article/economy-policy/icc-cwc-final-star-sports-travel-firms-pad-up-for-july-14-super-sunday-119060501129_1.html">reports</a>, from the last World Cup, the semi-final between India and Australia saw over 309 million impressions. The data for the latest India versus Australia clash is not out yet. However, if online viewership on Hotstar in India is any sign, the number of live viewers online at any point has ranged anywhere between 2 million and 8 million in the matches so far. This number did not even touch a quarter of IPL’s numbers. The IPL 2019 final between Chennai Super Kings and Mumbai Indians saw over 18 million concurrent viewers at one point. The IPL matches this year that ended in May saw a total reach of 462 million through <a href="https://www.insidesport.co/vivo-ipl-2019-462-million-tune-into-star-sports-netw/">television </a>alone. Hot on Hotstar Hotstar, during IPL alone, had garnered an excess of 300 million unique users and also witnessed a 74% increase in watch-time as compared to last year. And, it was hoping for more from the World Cup. “We aim to continue delivering an uninterrupted and immersive cricket watching experience not just to the domestic consumers, but to global audiences in the US and Canada as well,” Varun Narang, Chief Product Officer, Hotstar had then, said in a statement. With the numbers on its side, the streaming platform had also announced Dream 11, Uber Eats, Amazon Pay and Coca Cola as the co-presenting sponsors this year, while the associate sponsors include Royal Challenge, Acko, CEAT, and ICICI Lombard. Big ad spends With such massive records being set in viewership, brands are obviously leveraging from the World Cup too. According to <a href="https://economictimes.indiatimes.com/industry/services/advertising/ad-spend-may-go-through-the-roof-this-world-cup/articleshow/69669540.cms">reports</a>, indian businesses are reportedly spending ₹10-₹12 billion during the World Cup on advertising. Obviously, the numbers are bigger for India matches alone. In an interview with <a href="https://www.moneycontrol.com/news/trends/sports-trends/sports-advertising-to-boom-during-icc-cricket-world-cup-2019-4044111.html">Moneycontrol,</a> MK Machaiah, President Content+, Mindshare, South Asia, said, “The cost for an India match is ₹2 million onwards for 10 seconds. Over ₹ 1 million lakh is for all match packages. The sponsorship package is ₹ 400 million onwards on television and digital sponsorship is over ₹150 million." Cricket accounted for 93% of all sports viewership in India in 2018, according to a BARC India <a href="https://www.business-standard.com/article/news-ians/cricket-draws-93-of-sports-viewers-in-india-barc-119060400786_1.html">report.</a> And, this was before the World Cup. So far this year, the IPL has proved to be a bigger crowd puller than the World Cup, though there are still a few interesting games to follow, like the high-tension clash against Pakistan on Sunday (May 16). And as the tournament progresses, the interest level is likely to rise. See Also: <a href="https://www.businessinsider.in/icc-cricket-world-cup-army-insignia-on-ms-dhonis-gloves-have-started-a-fight-on-social-media/articleshow/69689488.cms">Here’s why everyone is talking about Indian cricketer MS Dhoni’s gloves</a> <a href="https://www.businessinsider.in/indias-men-in-blue-turns-orange-in-world-cup-2019-heres-how-the-cricket-jersey-has-changed-from-1985-to-2018/articleshow/69660311.cms">India’s ‘men in blue’ turns orange in World Cup 2019, Here’s how the cricket jersey has changed from 1985 to 2015</a>

ICC Cricket World Cup 2019 viewership so far on Hotstar is far from the IPL peak

Delhi election result 2020: EC confirms AAP's victory in 62 seats while BJP backs 8 of 70 assembly seats

Lok Sabha Election 2019 Second Phase - 95 Constituency Candidate List from Key Parties

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Bryan Bedder/Getty Images for The New York TimesGoldman Sachs Group chairman and CEO Lloyd Blankfein.</div></div></div><section><article><div><div><section data-share-hash=""><div>Goldman Sachs just announed a new class of managing directors.</div><div></div><div>Here's the statement:</div></section></div>NEW YORK, November 8, 2017 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has selected a new class of Managing Directors, effective from January 1, 2018, the start of the firm's next fiscal year."Our new Managing Directors have demonstrated an outstanding commitment to our people, clients and culture during their tenures at the firm, and we wish them continued success as they take this important next step in their careers," said Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs.The following individuals have been promoted to Managing Director: Gregg Abramson Sanjay Acharya Khalid Albdah Amal Alibair Karthikeyan Anbalagan Rolf Andersson Volker Anger Jonathan Armstrong Ken Ashley Lavanya Ashok Sebastian Ayton Jonathan Babkow Julio Badi Amitayush Bahri Soren Balzer Robert Barlick Jr. Philip Barreca Santiago Bau David Bauer Oksana Beard Lee Becker Virender Bedi Stuart Beer Christian Beerli Amanda Beisel Yumiko Bekku David Bell Pierre Benichou Andrew Benito Marco Bensi Laura Benson Stephen Bergin Daniel Berglund Greg Berry Shital Bhatt Dipanjan Bhattacharjee Anu Bhavnani Carissa Biggie Vineet Birman Daniel Bitel Anne Black Richard Blore Emmanuel Bodenstein Timothy Braude Sean Brenan Hugh Briscoe Nathaniel Bristol Leo Brito Troy Broderick Levee Brooks Eric Brothers Robert Bruns III Anthony Bunnell Meg Burke Susan Burt Sean Butkus Russell Byrne Edward Byun Adam Cahill Alessandro Calace Cristiano Camargo Ken Cawley Swapan Chaddha Patrick Chamberlain Richard Chambers Daphne Chan Lily Chan Ben Chance Ginger Chang Vikram Chavali Alex Cheek Jae Joon Choi Ken Choi Paul Choi David Clark Denis Cleary Daniel Cleland-James Ayanna Clunis Pamela Codo-Lotti Jesse Cohen Paul Coles Simon Coombes Jenny Cosco Philip Coureau Nathan Cowen Matthew Cox (Securities) Shaun Cullinan Christine D'Agostino Emile Daher Hiren Dasani Russell Day Pierre De Belen Merche del Valle Caitlin DeSantis Jack Devaney Thomas Devos Mats Dewitte Hristo Dimitrov Tim Dinsdale Isabella Disler Christian Ditullio Terence Doherty Yakut Donat Nicola Dondi Brian Dong Jason D'Silva Stefan Duffner Jane Dunlevie Marie Duval Julien Dyon Rohini Eapen Zach Eckler Sayaka Eda Jason Eisenstadt Chris Emmerson Tiffany Eng Chendan Esvaran Erkko Etula Liz Ewing Michael Fargher Matteo Farina Leigh Farris Sarah Faulkner Tom Favia Brett Feldman Jennifer Feng Jon Ferguson Alex Field Herbert Filho Alex Finston Dean Flanagan Greg Flynn Trip Foley Andrew Ho Kwon Fong Moran Forman Michael Fox Caroline Fraser Daniel Freckleton Tim Freeman Reto Frei Giles French Kirsten Frivold Michael Fu Rob Fuentes Kenji Fujimoto Carrie Gannon Chantal Garcia Akhil Garg Alex Garner Nick Gelber Andrew Gent Gizelle George-Joseph Andrea Gift Sean Gilbride Andreas Glaser Yong Suan Goh Sona Gohel Amir Gold Jeremy Goldstein Steven Gonzalez Jeff Gowen Adam Greene Tom Groothaert Hannes Gsell Ashwin Gupta Ali Haji Ayaz Haji Robert Hamilton Kelly Victoria Hampson Raja Harb Andy Harding Ryan Harster Selma Hassan Stephen Hawinkels Jacqueline Haynes Jason He* Craig Hempstead David Herrmann David Hickey Thomas Hilger Mitch Hochberg Jodi Hochberger Jane Hodges Peter Hodgkinson Dylan Hogarty Tim Holliday Naftali Holtz Amy Hong Jason Hudes Earl Hunt Joseph Hwang Yoshinori Ide Kazuya Iketani Daniel Jackson Ankit Jain (Risk) Gaurav Jaitly Jan Janssen David Jeria Alnawaz Jiwa Kim Johns Scott Johnson Elis Jones Neil Jones Robert Jones Philip Joseph Anand Joshi Shawn Joshi Ritu Kalra Michael Kaprelian Nadeem Kayani Alicia Keenan Neil Kelleher Tom Kennedy Aqil Khan Sarah Kiernan Daniel Kim Eugene Kim (IMD) Jason Kim (GIR) Sora Kim Kristy Kinahan Eugene King Laura Kirk Kunal Kishore Elliot Klapper Jayee Koffey Jason Koon Jennifer Kopylov Daniel Korich Ichiro Kosuge Vladimir Kotlyar Samuel Krasnik Katherine Krause David Kraut Sergey Kraytman Nitin Kulkarni Ram Kulkarni Dileep Kumar (Securities) Santosh Kunnakkat Wendy Kwong JP Lall Bill Lambert David Landman Yi Larson Niccolo Laudiero Nick Laux David Lee Phillip Lee Samuel Lee Shawn Lee Michael Leister David Lerner Naomi Leslie Matt Levine Na Li Haining Liang Nancy Licul Monica Lim Michelle Ling Srujan Linga Philip Linton Alan Liu Daniel Liu Eric Liu Heiman Lo Juan Lorenzo Tian Lu Wayne Lu James Lucas Dennis Luebcke Martin Luehrmann John Lynch Gina Lytle Leo Ma* Caesar Maasry Geoff MacDonald Robert Magnuson Toshiyuki Makabe Mariano Mallol Geydar Mamedov Kara Mangone Donna Mansfield Ajit Marathe Gilberto Marcheggiano James Marchese Michael Marcus Joshua Matheus Ann Mathews Chris Mathie Brian McCallion Graham McClelland Anne McCosker Michael Meehan (Compliance) Taylor Mefford Neil Mehta Adam Meister David Mericle Vitali Meschoulam Eric Meyers Alex Mignotte Andras Mikite Christopher Milligan Rahul Mistry Mike Mitchell Neil Moge Waleed Mohsin Babak Molavi Joel Monson Guy Morgan James Morris Antoine Munfa Aimee Mungovan Yuji Murata Dan Murphy Josh Murray Brian Musto Shehzad Nabi Devarajan Nambakam Ramanathan Narayanan Ganapathy Natarajan Danielle Natoli Murad Nayal Karim Nensi Scott Neu Dennis Ng Ken Ng Benjamin Ngan Joy Nguyen Salman Niaz Anders Nielsen (IMD) Howard Nifoussi Jun Niki Leah Nivison Laura Noble James Nolan Lauren Oakes Lynn Oberschmidt Allison O'Connor John O'Connor Shunil Ohrie Damian Ordish Leke Osinubi David Ossack Sathiya Padmanaban Danielle Pallin Salvador Pareja Dalmir Pasini Clorinda Pasqua Chris Pawson Paris Pender Patrick Perkins Philippe Perzi Wendy Peters Andy Phillips Flavio Picciotto Michael Pieck Sam Pirog Thomas Plank Joseph Plotkin Wade Podlich Ashish Pokharna Caitlin Pollak Charles Pollock Joe Porter Travis Potter Rohit Prabhu Richard Privorotsky Andrew Pucher Jay Rabinowitz Ankit Raj Harsha Rajamani Dmitry Rakhlin Yasser Rathore Edoardo Rava Elizabeth Reed Alexandre Reinert Stephen Reinhard Irfan Rendeci Christian Resch Andrew Rhee Riccardo Riboldi James Rinsler Caroline Riskey Helen Robinson Mark Rosen Amit Roy Joe Ryan Bernhard Rzymelka Takehiro Sakuramoto John Sales Rob Sarazen Vineeta Saxena Dominik Schaefer Andrea Scott Majid Sebti Bipin Sehgal Arseni Seregin Irma Sgarz Paulomi Shah Shreyas Shah Sunny Shah Faisal Shamsee Daniel Shapiro Mahesh Sharma Shripal Sharma Mai Shin Romy Shioda Toshimichi Shirai Mark Short Pankauz Shrestha David Shrimpton Obaid Siddiqui Mike Sidorov Scott Silverglate Stefani Silverstein Amy Silverzweig Jasdeep Singh Gabriella Skirnick Michael Sklow Maxine Sleeper Michael Slomienski Michael Sloyer Nicholas Smith (IBD) Ruth Smithson Christine Smyth Ben Snider Stacy Sonnenberg Cleaver Sower Ro Spaziani Brian Steele Johannes Steffens Duncan Stewart Stephen Stites Laurent Storoni Caroline Styant Joel Sulkes Mancy Sun Winnie Tam Nachiket Tamhane Ken Tang MK Tang Amish Tanna Melissa Teng Ross Tennenbaum Greg Thompson Fiona Thomson Justin Tobe Jason Tofsky Brad Tuthill Masahiro Uchiyama Nehal Udeshi Saad Usmani Meg Vaden Pramod Vaidyanathan Adam Van de Berghe Fred van der Wyck Suzanne van Staveren Andrew Vass Mahesh Vellanki Kadambari Verma Christopher Vilburn Iva Vukina Heng Vuong Ketan Vyas Joe Wall Jeffrey Wang Jiantao Wang Joshua Wang Lily Wang (Technology) Sherry Wang Victoria Ward (Compliance) Jeff Warren Noriko Watanabe Ramey Watkins Sam Watkins Heiko Weber Niki Webster Scott Weinstein Ryan Westmacott James Westwood Keith Wetzel Mark Wetzel James Whittingham Sabine Wick Robert Wieser Devin Wilde David Wilkins John Wilkinson Andrew Williams Ed Wong (IBD Technology) Eric Wong (Internal Audit) Kate Wood Amanda Wu Douglas Wu Joanne Xu Liang Xu** Rupam Yadav Kazushi Yamaguchi Hubert Yang Lisa Yang Basak Yavuz Zeynep Yenel David Yu Brian Zakrocki Thomas Zeppetella Yi Zhang* Adib Zouein Patrik Zumstein Piotr Zurawski Jonathan Zwart*Employee of Goldman Sachs Gao Hua Securities Company Limited **Employee of Beijing Gao Hua Securities Company Limited</div></article></section>Get the latest Goldman Sachs stock price<a href="http://markets.businessinsider.com/stock/GS-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/interview-with-kristina-hooper-chief-investment-strategist-at-invesco-2017-11">We talked to the chief investment strategist at $920 billion fund giant Invesco about where you should invest right now</a></h3> <div> </div> </div>

Goldman Sachs' new managing director list is out

In the last week of September when India created history as <keyword id="6358064" type="ORGANIZATION" weightage="20" keywordseo="ISRO">ISRO</keyword>’s low-cost satellite <keyword id="1506013" type="UNKNOWN" weightage="20" keywordseo="mangalyaan">Mangalyaan</keyword> entered Mars’ orbit, becoming the first country to execute such a project in its maiden attempt (a feat that eluded even the Americans and the Soviets), space mission enthusiasts reminisced an ambitious $2.7 billion promise ISRO made five years ago—to launch the first two Indian astronauts into space by 2015. The decision to send astronauts into space followed the successful launch of the country’s first unmanned lunar mission <keyword id="45499" type="COMPANY" weightage="20" keywordseo="Chandrayaan">Chandrayaan</keyword> in November 2008, which lent India entry into an elite club of nations that have reached the moon. 
 
Though dubbed by critics as India’s attempt to catch up with bigger neighbour China, which sent astronauts to space way back in 2003, once accomplished the project would make India only the fourth country to have managed a manned space mission—behind the US and Russia, which began their manned space missions in the 1960s, besides China. 
 
However, Indians have all reasons to be proud of the progress the country has made in its space programme from 1970s and 1980s when it built small satellites and light rockets, slowly graduating to manufacturing heavier satellites and more powerful rockets in mid-1990s. In fact, the country can rightfully boast of its stature as having one of the world’s few space programmes capable of launching satellites along with those of the US, Russia, China and Japan. What is more creditable is that India has made giant strides in space programs with a meager annual space budget of around $1.5 billion, compared with $3 billion to $5 billion each for Russia, China, Japan and Europe, and several billions for the US. 
 
However, before Indian astronauts reach space, the country has to overcome seemingly challenging technological and costs hurdles. To begin with, ISRO has to build an effective launcher to lift a spacecraft to Low Earth Orbit (LEO). Geostationary Satellite Launch Vehicle (GSLV)’s successor GSLV-Mk 3 is capable of lifting a spacecraft weighing up to eight tonnes. However, GSLV, which has failed in four of its first seven flights, has to prove its reliability. Then, ISRO has to build a spacecraft capable of ferrying the astronauts. However, ISRO, which has already conceptualised a 3-tonne spacecraft that can support two astronauts on a two-day space mission, is seen to be on the right track to build the required spacecraft soon. 
 
A few years ago, China reportedly spent $2.5 billion for the first five flights of the Shenzhou lab module, which can support three-person crews for 10 days or more. ISRO’s initial projections for building capabilities for launching a manned space flight—including building launchers, spacecraft and training astronauts—put the costs at $5 billion over several years. Considering inflation must have lifted possible costs much more than these projections, India’s $1.5 billion annual space budget seems quite inadequate. 
 
However, support from Moscow, India’s ally in the Asian space race, will help the country overcome some of these hiccups. Russia is expected to help build the astronaut capsule and select and train the astronauts. Indian astronauts will also get a trial run abroad Russia’s Soyuz spacecraft (Rakesh Sharma became the first Indian to be in the space as part of joint space programme between India and Russia in 1984). 
 
 Even technical collaboration with Russia wouldn’t make critics convinced. Considering manned space programmes have no real economic or military applications (the technologies used in such programmes may also have industrial applications at a future date, but those benefits are not significant), they say such progammes are an unwanted luxury for the country where 40 per cent of world’s malnourished children belong and more than 800 million people still survive on half a dollar a day and that poverty alleviation should precede space escapades. 
 
However, space programmes, especially manned ones, have historically been seen as an effective booster of national pride for the countries involved besides a reflection of their technological prowess. Modi’s resurgent India, which is forecast to be among top three global military powers by 2045 along with the US and China, cannot afford to be a laggard when it comes manned space missions where technology, science and adventure perfectly blend.

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