| | NOVEMBER 20238Future Generali India Insurance Company (FGII), announced that it has appointed Akshaya Kashyap as the Chief People Officer of the organisation, effective October 1, 2023. He has a rich and diverse experience in the Human Resource (HR) domain, spanning over 18 years, with almost a decade of that being with Future Generali.Akshaya takes over from Mr. Sunil Wariar who superannuated from service in September this year. Previously, Akshaya served as a DGM HR in India Life (FGIL) before moving to FGII in February 2016. He also had an overseas stint with Generali Vietnam, which greatly developed and broadened his functional and management competence. Prior to joining Future Generali, he has worked in varied sectors including auto-ancillary, manufacturing and retail.Commenting on the development Mr. Anup Rau, Managing Director and Chief Executive Officer, Future Generali India Insurance Company, said, "In alignment with our employee- centric philosophy, our primary focus is on promoting our dedicated current team members who have invested their time and energy in our organization when it comes to filling critical positions, rather than seeking external candidates. I am confident that Akshaya will build on the platform established by Sunil and further extend the company's culture where employees from diverse backgrounds work collaboratively and in a cohesive manner. Sunil has played a stellar role over the last 14 years and has been instrumental in shaping the company's HR policies and employee first approach. I would like to thank Sunil for his services and wish him the very best for the next phase of his life." The Reserve Bank of India may have rolled over a portion of its $5 billion foreign exchange swap that was due to mature on Oct 23 by conducting an ultra-short term swap whose maturity would augment system liquidity during the festive season amid tax outflows and currency leakage.The RBI concluded a sell-buy foreign exchange swap on April 28, 2022, in which banks purchased US dollars from the central bank and agreed to sell the same amount of dollars at the end of the swap period. The maturity of the swap, which was due on October 23, would have released approximately 40,000 crore into the banking system as the RBI purchases dollars to inject rupee liquidity into the banking system."The RBI would almost certainly have rolled over a portion of the transaction because we haven't seen much upside in the dollar-rupee exchange rate." If they (the RBI) had bought dollars, the exchange rate should have been 83.25-83.30/$1, according to Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors."Not only has the dollar-rupee exchange rate not increased significantly, but dollars are still being sold." As a result, I believe the RBI would have rolled over the transaction. "The expected dollar shortage has not materialised," he said.The RBI is currently faced with a difficult balance when it comes to balancing the impact of its currency market actions and their impact on liquidity in the banking system, especially since the central bank has recently flagged inflationary risks arising from excess cash in banks. FUTURE GENERALI INDIA APPOINTS AKSHAYA KASHYAP AS CPORBI EXECUTES LIQUIDITY POLICY FROM ITS $5 BILLION FOREX SWAPIN FOCUSIN FOCUS
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