Who has been appointed as the new head of Morgan Stanley (India) from 30th January 2023?

Daily Current Affairs

S N Subrahmanyan

Arun Kohli

C. K. Venkataraman

Sunil Duggal

Correct Answer : Arun Kohli

Morgan Stanley has named Arun Kohli as its new country head for India on 30 January 2023, citing an internal memo of the investment bank.

Kohli will be replacing Sanjay Shah, who will be retiring from service. The latter was with Morgan Stanley since 1996 and rose through the ranks to become its India head in 2021.

Kohli, also a veteran in the field of investment banking, is presently serving as Morgan Stanley's managing director and chief operating officer for Europe, Middle East, and Africa (EMEA) regions.

Kohli, currently based in London, has been associated with Morgan Stanley since the past 15 years. He headed the bank's post-Brexit strategy, and has been the its MD for EMEA regions since 2017.

For his new role as Morgan Stanley's India chief, Kohli will be relocating to Mumbai from London. The Wall Street bank is operating in India over the past 29 years, and has been discharging services such as investment banking, fixed income, commodities and derivative products.

Between 2012 and 2016, Kohli was the chief operating officer and managing director of Morgan Stanley's Asia Pacific operations. Earlier, he was the MD for firm strategy and execution for five years, stretching from 2007 to 2012.

Before joining the bank, Kohli had a five-year stint as associated principal at McKinsey & Co. Prior to that, he was the manager at Credit Rating Information Services of India between 1995 and 2000...

Source : Money Control

Published On : January 31, 2023

Solar’s Ascendance in India :

In 2015, India ranked ninth in solar energy deployment, but by 2023, it produced 5.8% of its electricity from solar, up from 0.5% in 2015. This significant increase underscores India’s commitment to clean energy and its pivotal role in mitigating climate change.

Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

Published On : May 9, 2024

Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

Comprehensive Industry Development Strategy : GTRI Founder Ajay Srivastava emphasized the necessity for a holistic approach to foster the growth of India’s toy industry and bolster exports.

Domestic Ecosystem Strengthening : Developing a robust domestic ecosystem is paramount, alongside measures to encourage renowned global toy brands to establish manufacturing facilities within India’s borders.

Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the Philippines, and France, as the top five remittance recipient countries.

Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024