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Faraday medal for Azim Premji
Bangalore: Wipro chairman, Azim Premji, is to be awarded the Faraday Medal by the Institute of Electrical Engineers (IEE) on Friday. He will be the first Indian to receive the medal.

The Faraday Medal was established in 1922 to commemorate the 50th anniversary of the first Ordinary Meeting of the Society of Telegraph Engineers (which is now the IEE).

This medal is awarded for notable scientific or industrial achievement in electrical engineering or for conspicuous service rendered to the advancement of electrical science, without restriction as regards nationality, country of residence or membership.

IEE is holding a two-day international conference on embedded systems and software in the city. The conference will see presentations on various topics ranging from Ultra Wide Band, a low-power wireless technology, to automotive application by speakers from top companies across the globe.
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Usha Thorat replaces K.J. Udeshi as RBI Deputy Governor
Mumbai: Ms Usha Thorat took over as deputy governor of the Reserve Bank of India on Thursday. Her appointment makes her RBI's fourth deputy governor.

Ms Thorat has been executive director of RBI since April 2004. Her appointment will be for a period of five years.

Ms Thorat will be in charge of the department of currency management, deposit insurance and credit guarantee corporation, inspection department, premises department, rural planning and credit department and urban banks department.

The post of deputy governor fell vacant following the retirement of Ms K.J. Udeshi as deputy governor. Other three DGs are V. Leeladhar, Rakesh Mohan and Shyamala Gopinath.

Born on February 20, 1950, Ms Thorat received her masters degree in economics from Delhi School of Economics.

Ms Thorat, who joined the Reserve Bank in April 1972, has vast experience in cash and debt management of central and state governments, government securities market development and regulation, financial markets, forex reserve management, foreign exchange management, banking regulation and supervision and payment and settlement systems.

She was a member of faculty at Reserve Bank Staff College and has also served in the RBI's Guwahati Office.

She has been on the boards of Bank of Baroda, Indian Overseas Bank and the Securities Trading Corporation of India. Ms Thorat was on several committees of RBI, including Group on Instruments of Sterilisation, Group of State Finance Secretaries on Fiscal Risk of Guarantees, Group on Ways and Means Advances to State Governments and Committee on Capital Account Convertibility.

She is currently member of the Committee on Global Financial Systems of the Bank for International Settlements and also served as a member of the International Task Force on Security Settlement Systems.
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Best executive award for Vizag Steel plant chief
Visakhapatnam: The chairman and managing director of Visakhapatnam steel plant, Y. Sivasagara Rao, was presented the best chief executive gold award recently in New Delhi for his contribution to the growth of the public sector.

Oscar Fernandes, minister for statistics and programme implementation, presented the award to Rao at the Rajiv Ratna National Award - 2005 function in New Delhi.
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