01 November 2018 Current Affairs:
According to the World Bank, India ranked 77th in the World Bank’s Ease of Doing Business Index 2018. The index ranks 190 countries based across the life-cycle of a business, from starting a business to resolving insolvency. The ranking is based on 10 different parameters. In the 2017 report, the country was ranked 100.
♦ Formation: July 1945
♦ Motto: Working for a World Free of Poverty
♦ Headquarters: Washington, D.C., U.S.
♦ Membership: 189 countries in IBRD, 173 countries in IDA
♦ Key people: Jim Yong Kim (President)
Kristalina Georgieva (CEO)
Shanta Devarajan (Chief Economist)
♦ Parent: World Bank Group
♦ The World Bank is different from the World Bank Group. The World Bank Group has five international organizations: International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), International Centre for Settlement of Investment Disputes (ICSID)
♦ The World Bank is a Monetary International Financial Organization