Current Affairs India - 25 February 2016

1. State-owned Punjab National Bank (PNB) has declared 904 borrowers as wilful defaulters who owed the bank total Rs. 10,869.71 crore as of December 2015. The list had 764 companies which owed the PSU bank Rs 9,200 crore. Key companies include Winsome Diamonds and Jewellery, which owes Rs.900.37 crore, Forever Precious Jewellery and Diamonds (Rs.747.98 crore), Zoom Developers (Rs.410.18 crore), Nafed (Rs.224.26 crore) and S. Kumar Nationwide (Rs.146.82 crore).


2. India's second largest IT Services Company Infosys extended current CEO Vishal Sikka-s term for another 2 years till 2021. Earlier he was appointed as CEO of the company till 2019. The Company's Nomination and Remuneration Committee (Committee) and Board recognized the outstanding initiatives taken by Dr Vishal Sikka to improve growth and rewarded him with USD 11 million annual salary.


3. Metropolitan Stock Exchange of India appointed Udai Kumar as its Managing Director and Chief Executive Officer, after receiving approval from Capital Market regulator SEBI. Earlier he was appointed as the interim CEO and MD in October last year after the resignation of Saurabh Sarkar.


4. Indian business man Vijay Mallya has stepped down from the post of chairman of United Spirits following a deal with current owner of the Liquor maker Diageo. United Spirits was founded by his father Vittal Mallya. As per deal with Diageo, Diageo will withdraw all allegations in terms of financial irregularities in USL book and agreed to pay him USD 75 million for the separation.


5. GVK Biosciences was awarded with the Global CSR Excellence and Leadership Awards in the category of Best Environment-Friendly Project for its 'Go Green, Grow Green' plantation drive. The awards are given by the World CSR Congress every year on the World CSR Day.