Current Affairs - 2017

UN Report: India is Top Remittance Receiving Country

According to the ‘One Family at a Time’ study conducted by the UN International Fund for Agricultural Development (IFAD), Indians working across the world had sent home USD 62.7 billion in 2016 making India the top remittance-receiving country surpassing China. Salient Highlights Around 200 million migrants across the world have sent more than USD 445 million in 2016 as… Read More »

India-South Korea sign Agreements to Push Infrastructure Development and Bilateral Trade

India and South Korea has signed an agreement for $10 billion assistance for infrastructure development projects in India, including smart cities. It includes $9 billion in concessional credit and $1 billion in Official development assistance (ODA). Part of this fund will be utilised towards Smart City projects in India. With this agreement, South Korea has become one of the first non-G-7 countries… Read More »

Israeli Author David Grossman wins Man Booker International Prize

Israeli author David Grossman has won the Man Booker International Prize for his novel “A Horse Walks Into a Bar“. David Grossman has become the first Israeli author to win the Man Booker International Prize. He will share the £50,000 ($64,000) award money with his translator Jessica Cohen. David Grossman has also won other international awards.… Read More »

Neeru Chadha becomes First Indian Women to be elected to International Tribunal for the Law of the Seas

Law expert Neeru Chadha has been elected to the International Tribunal for the Law of the Seas (ITLOS). With this election, she has become the first Indian women to win a crucial election to a top UN judicial body that deals with disputes related to the law of the sea. Neeru has become the first… Read More »

IOC, BPCL, HPCL Sign Agreement to set World’s Largest Refinery

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. Salient Highlights Indian Oil Corp (IOC) will hold 50% stake and the Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum… Read More »

Union Cabinet approves Proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017

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. Salient Highlights The bill will pave way for the establishment of Resolution Corporation. The Resolution Corporation… Read More »

Union Cabinet approves Interest Subvention on Short-Term Crop Loan to Farmers

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. Salient Highlights The objective of the scheme is to make available agricultural credit for Short Term crop loans at an affordable rate. The scheme is expected to boost agricultural productivity and… Read More »

Verizon Completes Yahoo Acquisition

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. Salient Highlights Verizon will combine Yahoo with AOL which was bought by it two years ago to establish a venture called Oath. The Oath is a division… Read More »

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