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Bandhan Bank inducts two new members on its board

Bandhan Bank inducts two new members on its board

Finance
has inducted former International Finance Corporation executive Subrata Dutta Gupta and former executive Suhail Chander on to its board. They have joined as additional independent directors and will become independent directors once the bank's shareholders approve the appointment in the next annual general meeting. Bandhan board has now 15 members and includes HR Khan, who was Reserve Bank of India's deputy governor between 2011 and 2016. Dutta Gupta retired from IFC as principal financial officer. He had earlier served as the managing director of BHW Birla Home Finance and worked with SREI International Finance. He is at present on the board of Joyville Shapporji Housing Finance as a nominee director of the Asian Development Bank, Bandhan Bank said in a statement. Chander was head of c...

Biden SEC pick Gensler grilled over bitcoin, GameStop mania and board diversity

Finance
Gary GenslerAndrew Harrer | Bloomberg | Getty ImagesGary Gensler, President Joe Biden's pick to lead the Securities and Exchange Commission, said he would hope to oversee cryptocurrency regulation, the "gamification" of equity trading and board diversity if confirmed to lead Wall Street's chief regulator.Gensler, who testified before the Senate Banking Committee on Tuesday, was grilled on whether he would scrutinize payment for order flow and game-like tactics used by some online brokerages use to help attract customers to their platforms.Both subjects have received attention on Capitol Hill over the past two months after January's wild trading in GameStop, AMC Entertainment and other stocks.Senators including Massachusetts Democrat Elizabeth Warren asked Gensler in the virtual hearing for...
Oversight board rules against Facebook on post criticizing French President Emmanuel Macron

Oversight board rules against Facebook on post criticizing French President Emmanuel Macron

Business
Feb. 12 (UPI) -- An international social media watchdog said Friday Facebook acted too hastily and should reinstate a post criticizing French President Emmanuel Macron and urging Muslims to possibly turn to violence. The 40-member Oversight Board, made up of human rights and legal experts around the world, said the post did not represent an imminent threat and deleting it was a disproportionate restriction. Advertisement The same board will decide whether Facebook was right in banning the account of former President Donald Trump, a ruling that could come next month. The post placed in a forum for Indian Muslims in October 2020 referred to Macron as a devil, called to boycott French products and included a meme that read in its English translation: "If the tongue of the kafir starts agains...
Capitol riots: Parler boss says he has been fired by the board

Capitol riots: Parler boss says he has been fired by the board

Technology
Getty ImagesThe board of self-styled "free speech-driven" social media platform Parler has fired its chief executive John Matze, he said on Wednesday. Parler was favoured by many US conservatives who objected to content rules on Facebook and Twitter.It has far fewer users than either of its rivals, but grew rapidly the wake of the US presidential election. The platform has been largely offline since the 6 January riot in Washington DC. Parler sues Amazon for pulling the plugAmazon to remove Parler from web hosting serviceGoogle suspends 'free speech' app Parler "On January 29, 2021, the Parler board controlled by Rebekah Mercer decided to immediately terminate my position as CEO of Parler. I did not participate in this decision," Mr Matze said in a memo sent to Parler staff, originally re...
Facebook’s Oversight Board orders takedowns restored

Facebook’s Oversight Board orders takedowns restored

Technology
NurPhotoFacebook's Oversight Board has made its first rulings about content, deciding four out of five of the removed posts referred to it have to be restored.The board was set up to hear appeals from users about content they felt had been unfairly taken down - as well as cases referred by Facebook itself.The five posts covered a range of issues, including hate speech, nudity, misinformation and violence.The takedown the panel upheld was for a "demeaning slur" against Azerbaijanis.This post had been correctly removed for using a term of disdain "meant to dehumanise" the Azerbaijani people, the board ruled.But it also found:a comment that seemed derogatory to Muslims - in a post from a user in Myanmar, removed for breaking hate-speech rules - was not, when taken in contextan alleged quote f...