Current Affairs, General and Banking Knowledge Thread For Bank Aspirants

India ranking in different Indexes:

1. Global Hunger Index- 66

2. Global Peace Index – 141

3. Human Development Report – 136

4. Global Corruption Index – 94

5. Global Competitiveness Index-59th for 2012.

G 8 Summit:

i. 38th Summit 2012 :David camp, USA ii. 39th Summit 2013(Ireland): United Kingdom. A summit meeting of G-8 countries in Northern Ireland was held to discuss the issue of "tax avoidance" by companies in this increasingly globalised economy. G-8 Countries: Canada, France, Germany, Italy, Japan, Russia, Britain and the US

13. G 20 Summit:

i. 7th Summit 2012 – Los Cabos, Mexico ii. 8th Summit 2013-St. Petersburg, Russia

14. NAM Summit:

i. 16th Non-Aligned Movement Summit 2012- Tehran(Iran) ii. 17th Summit(Next)-In 2015- Venezuela

15. ASEAN Summit:

i. 20th ASEAN Meeting April 2012 – Phnom penh (Cambodia). ii. 21st ASEAN Summit Nov 2012 - Phnom Penh (Cambodia ). iii. 22nd ASEAN Summit 2013 – Brunei Darussalam

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Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) refers to the world's largest welfare program, run by the Government of India.[1]

It is a job guarantee scheme for rural Indians. It was enacted by legislation on 25 August 2005. The scheme provides a legal guarantee for at least 100 days of paid employment in every financial year to adult members of any household willing to do unskilled manual work related to public work at the statutory minimum wage of INR120 (US$1.90) per day in 2009 prices. If they fail to do so the government has to pay the salary at their homes.[2] The central government outlay for the scheme was INR4000 billion (US$64 billion) in FY 2010–11.[3]

This act was introduced with the aim of improving the purchasing power of semi- or un-skilled rural people of India, irrespective of whether or not they fell below the poverty line. Around one-third of the stipulated work force is women. The law was initially called the National Rural Employment Guarantee Act (NREGA) and was renamed with the prefix "Mahatma Gandhi" on 2 October 2009, Gandhi's birth anniversary.[4][5]

In 2011, the program was widely criticised as no more effective than other poverty reduction programs in India. Despite its best intentions, MGNREGA is beset with controversy about corrupt officials, deficit financing as the source of funds, poor quality of infrastructure built under this program, and unintended counter-productive destructive effects on the rural economy and inflation👼

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