US 'Citizen of the Year' award goes to Mahesh Nihalani
New York: Mahesh Nihalani, a businessman in the US has become the first Indian American to be awarded the prestigious 'Citizen of the Year' award by the Chamber of Commerce in the Cupertino city in California.

The criteria for the award are significant service, teamwork and achievements of the goals set.

Cupertino city in California has a population of about 50,000 out which 50 per cent are Asian Americans. Indian-Americans constitute about 12 per cent of the population. Nihalani became an executive committee member of the Asian American Business Council in 2001, and introduced the celebration of Diwali which is now considered the most successful community engagement in the area. Nihalani is also an advisor to the Organisation of Special needs Families (OSF) and the California Cricket Academy (CCA). He was honoured as an 'Asian American Hero' in 2005 and was also the recipient of the 2004 Community Bridge Award.
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UTI Bank undecided on new chief
Mumbai: The board of UTI Bank has not decided on a new chairman and managing director for the bank and the RBI had denied approval for the re-appointment of Dr P.J. Nayak, chairman and managing director, UTI Bank, whose term ends on July 31.

The RBI proposed a split in the office of chairman and managing director in line with the recommendations of the Dr Ganguly Group Report on Corporate Governance and had sought a revised proposal from the bank on whether Dr Nayak should be reappointed either as chairman or as managing director. However, Dr Nayak informed the RBI and the Remuneration and Nomination Committee of the board of the bank that it would not be possible for him to function in a "different and lesser capacity" and, therefore, cease to be associated with the bank after his current term with the bank expires.
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