Top Current Affairs Of The Day: 22 July 2022
by Sivasankari Sekar | Updated Jul 22, 2022
Mario Draghi, The Prime Minister Of Italy, Resigned
Mario Draghi, the Prime Minister of Italy, resigned his post.
Highlights:
Mario Draghi, the Prime Minister of Italy, resigned his post after key coalition parties withdrew their support for his government on actions tackling the high cost of living.
Mario submitted his resignation to Sergio Mattarella, the President. Maria's government will continue to operate under a caretaker capacity until a new leader is chosen. He was elected as Italy's Prime Minister in February 2021.
Maria's departure will be a setback to the western alliance against Russia’s invasion of Ukraine.
He took an uncompromising stand toward Moscow and was an architect of the hard sanctions against Vladimir Putin, the Russian President.
Italy’s inflation rate reached 8% in June, its highest level since 1986. Faltering on a packed schedule of promised reforms would jeopardise Rome’s ability to get €200bn from the EU recovery fund.
Rajarshi Gupta Is Appointed As MD Of ONGC Videsh
Rajarshi Gupta is appointed as Managing Director of ONGC Videsh.
Highlights:
Rajarshi Gupta is appointed as Managing Director of ONGC Videsh.
Public Enterprise Selection Board (PESB) recommended him for the position.
He has over 33 years of experience in supervisory, managerial, and strategic planning abilities in the domestic and international operations of ONGC and ONGC Videsh.
Rajarshi has spent 13 years in ONGC Videsh during 2006-2019, working across the world in diverse geographical and fiscal regimes, Merger & Acquisitions, in Business Development, and Project Management of Exploration and Development projects.
TRENDING
RBI Adopted Urban Cooperative Banks 4-Tier Regulatory Structure
To improve the financial soundness of Urban Co-operative Banks (UCBs), the RBI decided to form a 4-tiered regulatory framework.
Highlights:
To improve the financial soundness of Urban Co-operative Banks (UCBs), the RBI decided to form a 4-tiered regulatory framework.
A board of experts led by N S Vishwanathan, a former RBI deputy governor had presented many suggestions for improving UCBs.
With other recommendations, the committee suggested a 4-tiered regulatory structure depending on the size of the banks’ deposits and the regions in which they functioned.
For Factors, such as net worth, the Capital to Risk-weighted Assets Ratio (CRAR), exposure limitations, and branch expansion, a differentiated regulatory approach was advised.
A vital component of the recommendations was belonging to an umbrella organisation. The RBI agreed to a number of committee recommendations.
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