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