- National Award for the Bahaala Village Seva Sahakari Samiti of Alwar district.
- Bahaara Gram Seva Sahakari Samiti of Alwar district was selected for the National Subhash Yadav Award from the Nafscob at first place and the Co-operative Minister of Tamil Nadu honored the committee with awards at the national function organized in Chennai.
- Nafscob is the leading organization working for the smooth operation of the co-operative banks and district central co-operative banks and the development of cooperative credit. This is the second institution of Alwar district which has received this type of national level award. It is pride of Rajasthan for getting the award from the Bahala Grameen Seva Sahakari Samiti of all the co-operative countries of the country that performs excellent work.
- World Health Organisation appointed Milkha Singh as Goodwill Ambassador for physical activity.
- Legendary athlete Milkha Singhwas appointed as the World Health Organisation’s (WHO) Goodwill Ambassador for physical activity in the South-East Asia Region (SEAR).
- Milkha Singh was also known as ‘the Flying Sikh’ and is a Padma Shri awardee. He had won medals in athletics in Commonwealth and Asian games.
- International Youth Day celebrated globally.
- International Youth Day (IYD) is observed world wide annually on 12 Augustto pay attention to youth issues.
- This day was designated by the United Nations(UN) in 1999 with the adoption of Resolution 54/120.
- The first IYD was observed on August 12, 2000.
- Theme of IYD 2017 is:- “Youth Building Peace”.
- Aajeevika Grameen Express Yojana (AGEY) launched.
- The Government of India has decided to launch a new sub-scheme named “Aajeevika Grameen Express Yojana (AGEY)” as part of the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).
- The Self Help Groups under DAY-NRLM will operate road transport service in backward areas. This will help to provide safe, affordable and community monitored rural transport services to connect remote villages with key services and amenities (such as access to markets, education and health) for the overall economic development of backward rural areas.
- The beneficiary SHG member will be provided an interest free loan by the CBO from its Community Investment Fund upto Rs.6.50 lakh for purchase of the vehicle.
- National Rural Livelihoods Mission (NRLM) was launched by the Ministry of Rural Development (MoRD), Government of India in June 2011.
- In November 2015, the program was renamed Deendayal Antayodaya Yojana (DAY-NRLM).
- Objective of scheme is enabling poors to increase household income through sustainable livelihood enhancements and improved access to financial services.
- Lok Sabha passes State Banks (Repeal and Amendment) Bill, 2017
- The Lok Sabha passed the State Banks (Repeal and Amendment) Bill, 2017. The bill seeks to repeal the two Acts namely State Bank of India.
- It is to amend the State Bank of India (SBI) Act, 1955 to remove references to subsidiary banks and powers of State Bank of India (SBI) to act as an agent of the RBI.
- The Union Cabinet approved the merger of five associate banks along with Bharatiya Mahila Bankwith SBI. The five banks were State Bank of Bikaner.
- SoftBank Vision makes Big investment in Flipkart.
- Softbank fund invests one of its largest shareholders Flipkart Group (Flipkart) India’s leading e-commerce marketplace announced an investment a mix of primary and secondary capital from SoftBank Vision Fund (Vision Fund), the world’s largest technology focused investment fund.
- This is the biggest ever private investment in an Indian technology company and will make the Vision Fund one of the largest shareholders in Flipkart.
- The investment was partly used to buy shares of an existing investor Tiger Global and additional capital in the company.
- Centre likely to boost minimum wage, revise old formula.
- Giving a major boost to the minimum wages, the Centre may soon increase the counting of number of members per family from 3 to 6.
- At present, wife, husband and two children clubbed together are considered at three units. Based on this, government calculates minimum wage for agriculture and non-agriculture workers under the Minimum Wages Act, 1948. The Act is applicable to 47 central sector establishments and includes both agriculture and non-agriculture workers in the country.
- However as per the government officials, Union labour ministry is now planning to double the number of units per family by taking two children as separate units and including dependent parents. This revision will increase wage to about Rs. 18000 per month from existing Rs 9100 per month in C category areas for an unskilled worker.
- Currently, minimum wages for a domestic worker is Rs 704 for an hour and 5,642 per month for eight hours of work in a month. If the duration of work exceeds to more than 8 hours, the hourly rates get double as overtime. For an unskilled labour it is Rs 207 per day or Rs 5,382 per month and for skilled labour it is Rs 227 per day or Rs 5,902 per month.
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