Daily Current Affairs 22nd July, 2017
India performs miserably in war on inequality
- The index and the inequality report was recently released by the international NGO Oxfam and Development Finance International.
- It measures the efforts of governments that had pledged to reduce inequality as part of the sustainable development goals.
- The index mainly focusses on redistributive actions governments can take, rather than those that would prevent rising inequality in the first place.
- OECD countries headed by Sweden ranked the highest while Nigeria was at the bottom.
- The US had the highest level of inequality among developed countries, though it is the wealthiest country in history.
- Bhutan, known for coining the term `Gross National Happiness’, is ranked even lower than India at 143.
- Of India’s immediate neighbours, all but Nepal (81) and China (87) ranked between 138 and 150.
ECONOMY,BANKING AND FINANCE
BoB signs MoU with DGS&D for services to govt’s e-marketplace
- Bank of Baroda has entered into an agreement with Directorate General of Supplies & Disposal (DGS&D) for extending various banking services to Government e-Marketplace (GeM).
- DGS&D has been mandated to set up GeM, an initiative intended to bring greater transparency and efficiency in public procurements.
Partnership with PNB MetLife to provide insurance cover for borrowers
- Karnataka Bank, in association with its PNB MetLife, has launched Met Loan and Life Suraksha (MLLS), a single premium plan covering the loan liability of a customer.
- The bank has also introduced KBL MLLS, an app for its employees to instantly calculate the insurance cover and premium based on loan liability of the borrowers
SBI and Carlyle to jointly acquire GE Capital’s stake in SBI Card
- State Bank of India (SBI), the Carlyle Group and GE have announced that they have signed definitive agreements, whereby SBI and Carlyle Group will acquire GE Capital’s entire stake in SBI Card, the second-largest credit card franchise in India.
- SBI Card is operated through two joint venture companies , SBI Cards & Payment Services and GE Capital Business Process Management Services, which issue credit cards and process card transactions in the Indian market. Following the transactions, SBI and Carlyle will own 74 percent and 26 percent respectively in each of the two entities.
GOVT SCHEME/DIGITAL INDIA
Government to launch Aajeevika Grameen Express Yojana
- The Union Ministry of Rural Development will launch Aajeevika Grameen Express Yojana (AGEY), a sub-scheme under Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).
- AGEY aims to provide an alternative source of livelihood to members of Self Help Groups (SHGs) by facilitating them to operate public transport services in backward rural areas.
Kerala to host literary festival with ‘Tolerance’ as theme
- Kerala will be hosting the fifth edition of South India Writers Ensemble (SIWE) at Chengannur, a town in Kerala’s coastal Alappuzha district from 24 July 2017.
- The core theme of the festival this year is ‘tolerance’. So creative writers, journalists, theatre and film personalities from across the industry will be seen deliberating on the theme at a time when the country as a whole is witnessing raging debates over intolerance.
Sanjay Kothari appointed Secretary to new President
- Sanjay Kothari, Chairman of Public Enterprises Selection Board, has been appointed as Secretary to President-elect Ram Nath Kovind.
- Senior journalist Ashok Malik has been named as Press Secretary to Kovind, by the Department of Personnel and Training (DoPT). Senior Gujarat-cadre forest service officer Bharat Lal will be Joint Secretary to Kovind.
MEA spokesperson Gopal Baglay appointed Joint Secretary in PMO
- Senior diplomat and External Affairs Ministry spokesperson Gopal Baglay appointed as Joint Secretary in the Prime Minister’s Office.
- Baglay, a 1992 batch Indian Foreign Service Officer. The Appointments Committee of the Cabinet has approved Baglay’s appointment to the post for three years.
Karamjyoti Dalal wins bronze medal at World Para Athletics
- India’s Karamjyoti Dalal has won bronze medal at the World Para Athletics Championships 2017 in the discus-throw. In the women’s F55 category of discus-throw, she managed a throw of 19.02 m.