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Moody’s to Review Adani Group’s Governance Following Bribery Allegations

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Global credit rating agency Moody’s has announced a governance review of the Adani Group following allegations of bribery against its chairman Gautam Adani and other senior officials. U.S. prosecutors have accused the billionaire and his associates of orchestrating a scheme to pay over $250 million (approximately ₹2,100 crore) in bribes to Indian officials for favorable solar power contract terms. Moody’s Ratings issued a statement describing the charges as “credit negative” for the group’s companies, signaling potential repercussions for the conglomerate’s financial health and investor confidence. “Our primary focus is on the group’s ability to access capital to meet liquidity requirements and its governance practices,” the agency said. The indictment has raised fresh concerns over corporate governance within the Adani Group, which operates across sectors such as ports, energy, and infrastructure. The alleged bribery scheme, if proven, could tarnish the group’s reputation and strain its relationship with global investors. The allegations add to the challenges facing the Adani Group, which has already been under intense scrutiny following the Hindenburg Research report earlier this year. The report accused the group of financial irregularities and stock manipulation, leading to significant market volatility and questioning of the group’s governance standards. The new bribery charges, involving high-level officials, pose further risks to the group’s operations and financial standing. Moody’s review will likely consider the impact on the group’s ability to secure funding and its adherence to governance protocols in light of these developments. This latest controversy underscores the increasing importance of robust corporate governance in maintaining credibility and stability in global markets. The Adani Group has yet to issue a detailed response to the charges. Source: telanganatoday Photo Credit: telanganatoday

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PM Modi Highlights Role of Digital Public Infrastructure and AI in Global Inclusive Growth

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Prime Minister Narendra Modi emphasized the transformative potential of Digital Public Infrastructure (DPI), Artificial Intelligence (AI), and data-driven governance in achieving inclusive global growth. Responding to a post by WTO Director-General Dr. Ngozi Okonjo-Iweala, the PM highlighted their pivotal role in reshaping lives worldwide: “Thank you for your support and valuable insights. The emphasis on Digital Public Infrastructure, AI and data for governance is key to achieving inclusive growth and transforming lives globally.” Strengthening SDGs with Technology PM Modi’s vision aligns with global initiatives like the Global Digital Compact and the Global DPI Summit 2024, which underscore the need for equitable deployment of technology. The seamless integration of DPI and AI is proving instrumental in creating jobs, enhancing healthcare and education, and reducing inequality. Technology, when inclusive and citizen-centric, unlocks new avenues for growth and strengthens faith in democratic principles. Systems built with open, interoperable, and scalable designs enable businesses of all sizes to connect efficiently, empowering families and communities while fostering economic resilience. Prioritizing Privacy and Trust PM Modi stressed the need for transparent, secure, and equitable data governance principles to protect privacy and intellectual property while ensuring trust in digital systems. Foundational and frontier AI models trained on diverse datasets were highlighted as critical for accommodating global cultural and linguistic diversity. Indian Culture Resonates Globally In a separate post, PM Modi lauded Jonas Masetti and his team for promoting Indian culture through their Sanskrit performance of the Ramayan. “It is commendable how Indian culture is making an impact all over the world. I had mentioned Jonas during a #MannKiBaat program for his passion towards Vedanta and the Gita,” the PM said. This dual emphasis on leveraging modern technology and celebrating cultural heritage underscores India’s holistic approach to sustainable, inclusive development on the global stage. Source: pmindia.Gov.in Photo Credit: pmindia.Gov.in

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RBI Governor Urges Banks to Prioritize Governance and Ethical Practices

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RBI Governor Shaktikanta Das on Monday called upon private sector banks to bolster their internal governance frameworks and curb unethical practices. Speaking at the Conference of Directors of Private Sector Banks in Mumbai, Das emphasized the long-term risks of practices like mis-selling products and opening accounts without proper KYC verification. “While such practices may yield short-term gains, they ultimately expose banks to reputational damage, supervisory scrutiny, and financial penalties,” he noted, urging bank boards to lead the charge in ensuring ethical operations. Das highlighted the need for banks to carefully structure employee incentives to avoid encouraging unethical behaviors. He also pointed out that the Indian banking sector is at a juncture of both opportunities and challenges, with improving financial indicators reflecting strong efforts by bank management and boards. To maintain this momentum, the governor underscored the importance of leveraging strong fundamentals to build resilience and grow sustainably. “Good times are the best times to reinforce resilience and fortify defenses,” he remarked. The governor also touched upon emerging challenges posed by technological advancements, the rise of fintech, third-party dependencies, and climate change. He urged bank boards to act as guiding beacons in this dynamic environment, helping navigate risks while steering towards stable and sustainable growth. Das reaffirmed the RBI’s commitment to supporting the banking sector in its pursuit of innovation and resilience. He emphasized that a proactive approach to governance and ethics is crucial for fostering trust and stability in India’s rapidly evolving financial landscape. Source: CNBCTV 18 Photo Credit: CNBCTV 18

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PM Modi Praises CM Nitish Kumar’s Governance, Inaugurates AIIMS and Key Projects in Bihar

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Prime Minister Narendra Modi, on Wednesday, praised Bihar Chief Minister Nitish Kumar for his contributions to Bihar’s development, describing his governance as a shift from the “Jungle Raj” era to a model of “sushashan” (good governance). Modi’s remarks came during an event in Darbhanga, Bihar, where he laid the foundation stone for an All India Institute of Medical Sciences (AIIMS) and inaugurated infrastructure projects totaling over ₹12,000 crore. “Nitish Babu has established a governance model that has pulled Bihar out of the shadows of Jungle Raj,” Modi stated, highlighting the transformation under Kumar’s leadership. With Nitish Kumar on stage, Modi noted the progress achieved under the NDA’s “double engine” government, driving Bihar towards all-around growth. Modi also acknowledged Nitish Kumar’s persistent efforts to bring AIIMS to Darbhanga, crediting the Chief Minister’s initial request alongside late BJP leader Arun Jaitley. In his speech, Modi emphasized the importance of improving medical facilities across smaller towns and noted that, under his government, the number of AIIMS hospitals has expanded from just one since independence to nearly 24. Additionally, the PM highlighted the increase in medical colleges, which has doubled in the last decade, resulting in more doctors and medical seats nationwide. Darbhanga AIIMS, he noted, would help address Bihar’s healthcare needs and produce skilled doctors for the state and the country. In line with promoting education in regional languages, Modi reaffirmed his government’s commitment to offering medical education in Hindi and other languages—a tribute to Bharat Ratna Karpoori Thakur’s vision. Modi also addressed Bihar’s annual flood challenges in the Kosi-Mithila region, revealing plans to collaborate with Nepal and allocate ₹11,000 crore towards flood mitigation. He concluded by announcing new healthcare initiatives, including a cancer center in Muzaffarpur and an eye hospital in collaboration with Kanchi Kamakoti Peeth. Present at the event were Bihar Governor Rajendra Vishwanath Arlekar, Union ministers Chirag Paswan and Nityanand Rai, and Deputy Chief Ministers Samrat Choudhary and Vijay Kumar Sinha. Source: Times of India Photo Credit: Times of India

PM Modi Praises CM Nitish Kumar’s Governance, Inaugurates AIIMS and Key Projects in Bihar Read More »

IIT Madras and Vidhi Centre Recommend Participatory AI Governance Model for Inclusive Development

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A recent study by IIT Madras, in collaboration with the Vidhi Centre for Legal Policy, advocates a participatory governance model for Artificial Intelligence (AI) in India, aiming to set a global standard for inclusive AI development. The report emphasizes that involving diverse stakeholders in AI’s lifecycle enhances accountability, transparency, and fairness in AI systems. The research, spearheaded by IIT Madras’ Centre for Responsible AI (CeRAI) at the Wadhwani School of Data Science and Artificial Intelligence (WSAI), brings together technologists, legal experts, and policy researchers to explore the benefits of a participatory approach. Real-world case studies across sectors reveal how public involvement can yield AI systems that are better aligned with societal values and ethical standards. “The widespread adoption of AI has fundamentally reshaped our public and private sectors,” explained Prof. B. Ravindran, Head of CeRAI, IIT Madras. He highlighted a key finding: those impacted by AI systems often lack a voice in their development. “This study aims to close that gap by recommending participatory approaches that prioritize responsible, human-centric AI development,” he added. The report also provides a practical, sector-agnostic framework for identifying and integrating diverse perspectives throughout the AI development process. Shehnaz Ahmed, Lead for Law and Technology at the Vidhi Centre, noted that while the value of inclusivity in AI is recognized, frameworks for its implementation remain unclear. “Our findings demonstrate how a structured, participatory model can guide ethical development, especially in sensitive applications like facial recognition and healthcare,” she explained. This groundbreaking study suggests that a participatory model not only strengthens public trust but also accelerates AI’s acceptance across sectors by fostering transparency and accountability. With global relevance, the framework aims to support ethical, safe, and equitable AI practices worldwide. Source: Shiksha.com Photo Credit: Shiksha.com

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Italy Launches Probe into Sinochem’s Governance Role at Pirelli

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Italy’s Prime Minister’s Office has initiated an administrative review against Chinese state-owned Sinochem, the largest shareholder in Italian tire manufacturer Pirelli, over a potential governance breach. This move follows Italy’s use of its “Golden Power” legislation to safeguard strategic national assets by limiting Sinochem’s influence within Pirelli. Last year, Italy’s government set strict conditions requiring a qualified majority for key decisions at Pirelli and mandated that the company operate independently from Sinochem’s directives. The current investigation addresses whether there are any organizational or functional links between Pirelli and Sinochem that violate these terms. The review, dated October 31, has a 120-day timeline for resolution. Sinochem, which holds a 37% stake in Pirelli, has expressed confidence that it has complied with Italian regulations and plans to clarify its position during the proceedings. With Camfin, the vehicle of Italian executive vice chairman Marco Tronchetti Provera, holding a 25.7% stake, the probe highlights Italy’s commitment to shielding domestic companies from foreign state influence. Source: Reuters Photo Credit: Reuters

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Egypt Launches Initiatives for Decentralization and Sustainable Urban Development at WUF12

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News on Governance

At the 12th World Urban Forum (WUF) in Cairo, Egypt’s Minister of Local Development, Manal Awad, unveiled two major initiatives to advance local governance and decentralization, along with the launch of the “Atlas of Egyptian Cities.” The forum, with the theme “Everything Starts at the Local Level: Local Action for Sustainable Cities and Communities,” focused on strategies to tackle Egypt’s housing and climate challenges, enhance urban funding, and bridge development gaps. Awad emphasized that Egypt’s participation aims to showcase its approach to sustainable urban development by connecting global objectives with localized action. These new initiatives will target sustainable city planning, local climate adaptation, and improved urban-rural connectivity, especially focusing on Upper Egypt and rural communities. The forum’s discussions will address six core areas: future-focused housing, climate-resilient cities, community cooperation, funding the Sustainable Development Goals (SDGs), the human-centered digital age, and tackling housing loss. Highlighting the importance of local empowerment, Awad stressed the role of decentralization policies in achieving sustainable urban growth. These initiatives, launched alongside the ongoing Egyptian sustainable cities program, are part of a broader strategy to involve civil society and the private sector in urban planning, paving the way for modernized provincial capitals and high-quality urban living Source: Daily News Egypt Photo Credit: Daily News Egypt

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Arunachal Cabinet Sets Up Administrative Reforms Commission for Enhanced Governance

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News on Governance

The Arunachal Pradesh cabinet, under the leadership of Chief Minister Pema Khandu, has announced the establishment of an Administrative Reforms Commission (ARC) to streamline state governance and tackle administrative challenges. The decision, taken during a cabinet meeting in Tawang, mandates the ARC to undertake a comprehensive review of the state’s administrative framework and propose recommendations for a more efficient, citizen-centric, and accountable governance system. Key initiatives discussed in the meeting include a new transfer and posting policy for nurses across health facilities in Arunachal Pradesh, aimed at ensuring equitable staffing and quality healthcare services. Additionally, the cabinet approved the renaming of the Special Investigation Cell (Vigilance) to the Anti-Corruption Bureau (ACB), underscoring the government’s commitment to addressing corruption. The ACB will continue to handle major investigations within the state. Another significant decision is the proposed renaming of Naharlagun Railway Station to Itanagar Railway Station, which has been recommended to the Government of India for consideration. The cabinet also endorsed the amendment of the Arunachal Pradesh Victim Compensation Scheme, enhancing the compensation rates for victims of various crimes. Further administrative advancements include the amendment of the Arunachal Pradesh State Human Rights Commission Service Rules, 2022, and the approval of special grades for various ranks within the police department, including constables, head constables, and ASIs. The cabinet also granted one-time recruitment relaxations for contractual ANM and nursing officers, enabling their absorption on a seniority basis and advancing career growth for healthcare workers. Source: Times of India

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Andhra Pradesh Government Partners with Meta to Drive Digital Governance

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On October 22, 2024, the Andhra Pradesh government signed a Memorandum of Understanding (MoU) with Meta Platforms Inc. to advance digital governance. This collaboration aims to leverage Meta’s WhatsApp Business Solution and generative AI technologies, such as Llama, to enhance e-governance services across the state. The MoU was signed in New Delhi at 1, Janpath. The partnership seeks to improve citizen-centric services by enabling direct communication between the government and its citizens through WhatsApp. In addition to facilitating governance-related updates, Meta’s AI technologies will initially focus on education and skilling, with the potential to expand to other domains. “This partnership aligns with our vision of making governance easier and improving the quality of life for all citizens. With Meta’s innovative technology, we aim to enhance the efficiency of our public services and ensure that governance is just a click away,” said Andhra Pradesh IT Minister Nara Lokesh. Meta India Vice President Sandhya Devanathan highlighted the open access to AI models and the WhatsApp API, stating, “By making openly available AI models and WhatsApp API features accessible to all, we’re fostering innovation and democratizing access.” In a similar move, Meta also partnered with the Telangana government in September 2024 to enhance e-governance and citizen services through AI technologies, reflecting Meta’s growing role in India’s digital governance landscape.

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Australia Reaches Agreement with World Aquatics on Governance Reform

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Governance news

Swimming Australia (SA) has reached an agreement with World Aquatics to resolve governance issues that could have led to its suspension by the global governing body. The agreement, announced on Monday, introduces significant reforms aimed at enhancing athlete and club representation in decision-making processes. Key Outcomes of the Agreement: Enhanced Voting Rights for Athletes and Clubs: The new agreement involves an updated SA constitution, which will allocate 50% of voting rights at future annual general meetings to athletes and clubs. This move ensures greater involvement of those directly engaged in the sport, fostering a more inclusive governance model. Positive Reception from SA: Hayden Collins, co-chair of the SA Board, expressed gratitude for the support from member organizations and emphasized the significance of the resolution. “We are delighted to have been able to reach this outcome today and thank the member organisations for their support in bringing this to a resolution,” Collins stated. The finalization of the revised constitution is expected by Christmas, marking a new chapter for Swimming Australia. Global Recognition from World Aquatics: Brent Nowicki of World Aquatics praised the outcome, highlighting the importance of giving the swimming community more control. “We are pleased that 50% of the voting rights now sit with the community the sport is there to serve, the athletes and clubs,” Nowicki said. He added that this governance model is likely to set a global standard for best practices across other sports organizations. This agreement between Swimming Australia and World Aquatics represents a significant step toward more inclusive governance, ensuring that athletes and clubs have a stronger voice in shaping the future of the sport. With these reforms, Swimming Australia moves forward with a governance structure that prioritizes those it serves, establishing a model that may influence similar reforms worldwide.

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