Top Current Affairs Of The Day: 22 July 2022

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by Sivasankari Sekar

Updated Jul 22, 2022

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Top Current Affairs Of The Day: 22 July 2022
Source: Twitter

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.

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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