GK Update: February 20th & February 22nd, 2016.

Infosys Consulting Holding appoints Michael Pesch as CEO.

T major Infosys has appointed Michael Pesch as Chief Executive Officer of Infosys Consulting Holding AG (formerly Infosys Lodestone), effective from April 1. He will focus on expanding the reach of Infosys consultants and experts in digital transformation and design-led innovation, as well as increasing Infosys’ expertise in large-scale SAP programmes, the company said in a statement.

Four banks plan to sell Kingfisher Airlines’ assets to ARCs.

As many as four banks are contemplating selling assets of beleaguered air carrier Kingfisher Airlines to asset reconstruction companies (ARCs) to recover part of their dues. Led by SBI, the 17 bank consortium struggles to recover Rs. 6,963 crore debt due from Kingfisher Airlines.

GST Committee: Amit Mitra named chairman.

West Bengal Finance Minister Amit Mitra named the new chairman of the Empowered Committee of State Finance Ministers on Goods and Services Tax (GST). He will succeed Kerala Finance Minister K M Mani who had to resign in November over corruption charges. Mitra, an economist, who for long was Secretary General of industry association Ficci before joining politics in 2011 and becoming a minister in the TMC government in West Bengal, was elected at the meeting of state finance ministers that was also attended by Union Finance Minister Arun Jaitley.

Christine Lagarde appointed for second term as IMF chief.

Christine Lagarde, who steered the IMF through some troubled times including the Eupropean financial crisis, has been re-appointed as its Managing Director for a second five-year term after an uncontested election.

Budget to focus on farmers, jobs: Sinha.

Minister of State for Finance Jayant Sinha said the upcoming Budget will be citizen-centric with a focus on farm sector, job creation and eradication of poverty.This will be the second full-fledged Budget of the ruling NDA government.

Govt. to tap CSCs for rural banking access.

The government is looking to leverage its Common Services Centres (CSCs) to enable easy access to banking services, particularly in rural areas.

USIBC working hard to protect India’s IPR status.

Hectic lobbying is underway by the US-India Business Council (USIBC) to prevent the risk of a downgrade in the Special 301 report that identifies trade barriers to U.S. companies and products due to a foreign government’s intellectual property regime.

Govt. may penalise higher PF savings.

Budget 2016-17 could penalise voluntary investments over Rs 1.5 lakh into Employees’ PF and General PF accounts, in a bid to prod people into investing their savings in other alternatives such as the National Pension System.

Jaitley to skip G20 meet beginning Feb 26.

With the Budget session of Parliament beginning, Finance Minister Arun Jaitley is most likely to skip the G20 meeting of Finance Ministers and central bank governors on February 26-27 in Shanghai.