CURRENT AFFAIRS

Detailed explanation-1: -Mr. Shrikant Madhav Vaidya is a Chemical Engineer from the National Institute of Technology, Rourkela. He has over 34 years of extensive experience in refining & petrochemical operations.

Detailed explanation-2: -Mr Shrikant Madhav Vaidya heads the Fortune-500 Indian energy behemoth Indian Oil Corporation Ltd (IndianOil), India’s largest oil refiner and fuel retailer that prides itself as the ‘Energy of India’.

Detailed explanation-3: -IndianOil has resolved to achieve net-zero operational emissions by the year 2046. IndianOil’s decarbonisation plans encompass both Scope 1 & 2 emissions. Mr Shrikant Madhav Vaidya, Chairman, IndianOil, made the announcement during the Company’s 63rd Annual General Meeting, held on 25th August, 2022.

Detailed explanation-4: -The Revenue from Operations of IndianOil is ₹2, 28, 168 crores in Q3 2022-23 as compared to ₹1, 97, 168 crores in the corresponding quarter of last year. The Net Profit for the third quarter of FY 2022-23 is ₹448 crores as compared to ₹5, 861 crores in the corresponding quarter of last year.

Detailed explanation-5: -In December 2019 he was appointed as a IOCL chairman & MD. He is a chemical engineer with his degree from NIT Rourkela. Shrikant Madhav Vaidya has worked in IOCL for more than 35 years. IOCL pays him ₹90 lakh annually as a salary apart from perks and allowances provided by the Government Of India.