Daily GK Update - 10 Jan 2016

1.Urjit Patel re-appointed as RBI Deputy Governor for Three Years

Union Government on 8 Janury 2016 re-appointed Dr Urjit R Patel, as Deputy Governor of Reserve Bank of India (RBI), for a second three-year term. 

Patel who joined RBI on 11 January 11, 2013 had headed a committee that paved the way for the proposed monetary policy committee. Patel, a doctorate from Yale University, also had a stint at IMF. 

Patel is the fourth deputy governor and the other three are HR Khan, R Gandhi and SS Mundra.

The re-appointment of Patel assumes significance as in recent past, none of the deputy governors got a second term.

About Urjit Patel

• Urjit Patel is an economist with hawkish point of view on inflation.

• He authored a research paper called Dynamics of Inflation Herding: Decoding India's Inflationary Process along with Gangadhar Darbha, ED, Nomura. 

• Between 1990 and 1995, he worked with the International Monetary Fund (IMF) 1995 covering the US, India, Bahamas and Myanmar desks

• He was on deputation from 1996-1997 from the IMF to the RBI and provided advice on development of the debt market, banking sector reforms, pension fund reforms, real exchange rate targeting and evolution of the foreign exchange market.

• Patel was also a consultant with the Boston Consulting Group and was also a part of IDFC’s management committee for almost 10 years ever since it was first incepted. 

• From 2005-2008, he also worked in board of Multi Commodity Exchange of India.

• Urjit Patel was NRI at Brooking Institution, Washington DC from 2006-2007. 

• As an academic as well as consultant, Patel also provides advice to Indian government on different panels. 

• He was the board member in Gujarat State Petroleum Corporation as well.

• Prior to his appointment as the deputy governor at RBI in 2013, Patel was advisor (energy & infrastructure) with Boston Consulting Group.

 

2.Kenya published new Broadcast Regulations

In order to protect children, Kenya on 8 January 2016 published new broadcast regulations that place strict limits on sexual content. The regulations also ban preachers from soliciting money from audiences in exchange of blessings and prayers on air.

The new rules contained in the Programming Code for Free-to-Air Radio and Television Services apply to programmes as well as advertisements, programme listings and promotions.

Kenya's Communications Authority (KCA) said that explicit content has been banned on airwaves between 5am to 10pm. Broadcasters have until June 2016 to comply with the new rules. 

According to reports, this is the first time that a concerted effort has been made to censor Kenyan radio stations.

3.Union Government launched an online initiative to engage LPG consumers and citizens

The Ministry of Petroleum & Natural Gas (MoPNG) on 9 January 2016 launched an Online Initiative to engage the LPG Consumers and Citizens in providing efficient and citizen friendly services in LPG distribution. 

It has launched two online discussion forums namely Citizen Friendly Services and Increasing LPG Coverage in the Country, which are available on the websites www.mygov.in and www.mylpg.in.

The government also urged consumers to participate and share their thoughts on the respective forums. These comments will be used in improving the customer oriented services related to LPG Coverage & Delivery. The initiative is one of the many steps for observing 2016 as the Year of LPG Consumers.

4.Burkina Faso's president named Paul Kaba Thieba as Prime Minister

Economist Paul Kaba Thieba was named as the Prime Minister of Burkina Faso on 7 January 2016 by the President Roch Marc Christian Kabore. 

The announcement was made a week after the president was sworn in as the country's first new leader in almost three decades following his election in November 2015.

56-year-old Thieba has worked for many years with as an economist for the West African central bank, BCEAO, in Ivory Coast. Now, he is charged with forming President Marc Roch Kabore's government as the country continues with a democratic transition after 27 years under leader Blaise Compaore. 

Compaore was overthrown in October 2014 after being in power since 1987.