Current Affairs June, 2017

India and South Korea has signed an agreement for $10 billion assistance for infrastructure development projects in India, including smart cities.

The Bhupen Hazarika National Award, 2017 has been conferred upon the noted writer Yeshe Dorjee Thongshi. This is the fifth edition of the award which was first conferred in 2012.

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

• Verizon Completes Yahoo Acquisition
• RBI identifies 12 Bank Accounts accounting 25% of NPAs to initiate Bankruptcy Proceedings
• 14 June: World Blood Donor day

Law expert Neeru Chadha has been elected to the International Tribunal for the Law of the Seas (ITLOS).

The Public Sector Oil Marketing Companies, Indian Oil, Bharat Petroleum and Hindustan Petroleum has have signed the joint venture agreement to jointly set up the world’s largest refinery and petrochemical complex in Ratnagiri district of Maharashtra.

The Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017 which will provide a comprehensive resolution framework for financial sector entities to deal with bankruptcy situation in banks, insurance companies, and other entities.

The Union cabinet has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. The Government has allocated Rs. 20,339 crore for this scheme.

Telecom giant Verizon has acquired Yahoo’s core business for $4.48bn (£3.51m), thus ending Yahoo’s two-decade long run as an independent company. Verizon is the No.1 wireless operator in the US.

India has ratified two key global conventions for combating child labour as a step towards creating full respect for fundamental rights at work.

RBI’s Internal Advisory Committee (IAC) has identified 12 bank accounts constituting nearly 25% of the gross bad loans for immediate referral and resolution under the bankruptcy law.

SEBI has allowed options trading on futures contract of commodities. However, the capital market regulator has allowed the commodity derivatives exchanges to initially launch options on futures of only one commodity.