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Tasks for the new government Nod to cow slaughter bill A neta at it again! Power for all Of development and welfare Monsoon fury Stirring the political cauldron Lingayats get a reminder: it’s poll time AP in better shape TN can leverage NLC’s strengths... Land acquisition policy is ahead of national policy... More government apps Land scams rock AP & TS Global Investors Meet Post Poned Pioneering education model Leaky old lorries, mini cabs for techies... It indeed is attractive for investments State Forward Reducing carbon footprint... Bringing magic of Rajasthan alive CII to set up tourism bureaus States Roundup Flurry of collaborations inked by AP Thalaivaa Divide & Prosper Deputy Collector Sindhu! Time to wake up Homestays, a budding tourism industry When business flocks to MP... Mango Diplomacy Illegal mining of sand A year of Telangana Waste disposal model Wouldn’t the Mahatma like clean restrooms in our cities! Development depends on land availability... ‘E’ for enterprise Winds of change... Come to Tamil Nadu where the action is... Bhubaneswar IIT cries for completion Kochi Metro Rail Project Vedanta to close Lanjigarh refinery TN to suffer serious loss State under siege MOUs worth Rs.10.54 lakh crore signed Hype on Hyperloop KNPP with the grid Green crimes galore KTR releases Annual Report Infrastructure to the FORE An industrious idea Doubling production and tripling farmers’ income... Global meets galore Miners asked to pay more A blueprint for the future Competing for good: Tale of two states With agriculture at its heart... State of the States Info-Park, more space SIPB clears big proposals Infra boost to the new capital Bifurcation yet to end water wars Enchanting and enterprising Tamil Nadu ODISHA States - Odisha TN to suffer serious loss Oh, la la. Bus services hit Why the Congress won in Karnataka City of foaming lakes and fire Promise of a productive year Industrial corridors to boost economy Technology has raised the bar... Municipal Elections States - Kerala A giant push for millets KCR’s I-day bonanza Benevolent businessthan... It’s Karnataka chalo for Amit Shah? Strike over salary hike Enticing pest traps Fanciful Rao and tech-savvy Naidu Launch of ins vikrant, India’s first indigenous aircraft carrier MCL has a taste of judicial activism! All these happened in TN… Inter-State boundary
 
Municipal Elections

In the municipal elections of Maharashtra, the BJP’s gains were spectacular. It was saffron all over. It swept Nagpur, Nashik and Pune and was behind the Shiv Sena in Mumbai metro and Thane. The Shiv Sena, which had been controlling Mumbai for more than three decades, could not get an absolute majority this time with the BJP breathing down its neck. Chief Minister Devendra Fadnavis, with his electrifying campaign established his popularity beyond doubt. Both NCP and the Congress had to eat crow.

The bitter fight between the BJP and the Shiv Sena prior to the elections notwithstanding, the BJP conceded the posts of Mayor and the Deputy Mayor to Shiv Sena without contest lest its coalition in the state and in the Centre gets jeopardised. 

The Municipal Commissioner from the IAS cadre and, not the Mayor, would exercise the real power in the corporation. The Commissioner is appointed by the state government.

The Mumbai Corporation is the wealthiest of all such civic bodies in India. But managing the Maximum City with a large contingent of migrant labour has been complex. There has been widespread corruption. The emergence of BJP with much larger numbers in the council and with the clean image of Modi and Fadnavis, there are expectations of a much cleaner administration.

 

BSE creates history

The initial public offer (IPO) of BSE Ltd., the first by a domestic stock exchange, got oversubscribed 51 times. The scrip was listed at the NSE at Rs 1085, with a 35 per cent premium over the issue price. The Bombay Stock Exchange was started under a banyan tree as an association of brokers towards the end of the 19th century. It grew steadily to become the spokesman and image of capital market in India. The Sensex has become a barometer for all investors.

For decades, the brokers owned the exchange. But with ownership resting with management, professionalism was at risk. When complaints of insider trading flew thick, the board was re-constituted with brokers removed from executive functions. I was appointed chairman of a new board with experts from banking, industry, brokers and the government, assisted and directed by SEBI. Elaborate care was bestowed on various aspects of management on the transformation into a corporate unit. 

The conversion of the BSE as an association into BSE Ltd. was achieved within two years.

- S Jambunathan, IAS (Retd)

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