Daily Current Affairs and GK | 20 and 21 October 2024

Topic: National Appointment

1. Srinivas got additional charge of CEO of the public procurement portal GeM.

• L Satya Srinivas, Additional Secretary in the Department of Commerce, has been given the additional charge of CEO of public procurement portal GeM by the government.
• P K Singh, the last CEO of Government e-Marketplace (GeM), has been appointed Secretary in the Ministry of Renewable Energy.
• Hence, Srinivas has been given additional charge.
• On August 9, 2016, the GeM portal was launched for online purchases of goods and services by all central government ministries and departments.

Topic: Banking System

2. Navi Finserv and three other NBFCs barred by RBI from sanctioning and disbursing loans.

• Four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), have been barred by the Reserve Bank of India (RBI) from sanctioning and disbursing loans for charging exorbitant interest rates from borrowers.
• These four entities are: Ashirvad Microfinance, Arohan Financial Services (also an MFI), and DMI Finance, which provides loans for personal consumption and micro, small and medium enterprises.
• Apart from this, Flipkart co-founder Sachin Bansal's Navi Finserv, which provides home and personal loans.
• This restriction will come into effect from October 21 to facilitate the closing of transactions that are in the pipeline.
• This action is based on material supervisory concerns observed in the pricing policy of these companies in respect of their weighted average lending rate (WALR) and interest spread charged on their cost of funds, which have been found to be excessive and not in conformity with the regulations.

Topic: International News

3. India and Germany will sign a pact on labour mobility and skill recognition.

• India and Germany will sign a pact on labour mobility and skill recognition to facilitate the movement of workers.
• Under this agreement, skilled professionals will be hired by German industries.
• It will be the first agreement under the G20 “Skills-based migration pathways” framework.
• Under this framework, the top 20 economies of the world have recognized that integrated skill-based migration pathways will expand job opportunities for skilled professionals.
• It will also open an avenue for skilled Indian professionals to migrate to Germany.
• This agreement will focus on introducing a digital visa by the end of 2024.

Topic: Awards and Prizes

4. Mohanji received the Humanitarian Award at the 2024 Conscious Companies Awards in Johannesburg.

• Mohanji, a renowned humanitarian and spiritual leader, received special recognition for his global humanitarian leadership at the 9th Conscious Companies Awards in Johannesburg, South Africa.
• The prestigious annual event celebrates ethical and visionary leaders who demonstrate conscious leadership within their organizations.
• The Conscious Companies Awards are given to individuals and organizations that promote ethical behaviour and sustainable practices.
• Mohanji is a globally recognized humanitarian and philanthropist. He devoted his life to guiding people from selfishness to selflessness.