Current Affairs

Israeli author David Grossman has won the Man Booker International Prize 2017 for his novel 'A Horse Walks Into a Bar'.

Grossman beat five other finalists, including fellow Israeli author Amos Oz, for the counterpart to Britain's prestigious Booker Prize. Grossman's novel is about a failing stand-up comic and his final performance.

The Man Booker Prize was established in 1969. The winner receives £50,000 as well as the £2,500 awarded to each of the shortlisted authors.

Former CAG Vinod Rai was on Sunday appointed first Chairman of the Banks Board Bureau, which will advise the government on top-level appointments at public sector lenders and ways to address the bad loans problem among other issues.
Mr. Rai was the Comptroller and Auditor General between January 2008 and May 2013, during which a number of CAG reports led to various scams including in the telecom and coal sectors coming to light.

The bureau will give recommendations on appointment of directors in public sector banks and advise on ways to raise funds and mergers and acquisitions to the lenders.

There are 22 state-owned banks in India including SBI, IDBI Bank and Bhartiya Mahila Bank.

The BBB was earlier proposed by the government as a body of eminent professionals and officials, which will replace the Appointments Board for appointment of Whole-time Directors as well as non-Executive Chairman of PSBs.

They will also constantly engage with the Board of Directors of all the public sector banks to formulate appropriate strategies for their growth and development.

The bureau will search and select heads of public sector banks and help them develop differentiated strategies of capital raising plans to innovative financial methods and instruments.