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Daily Current Affairs Digest – June 14th 2017
||Verizon Completes Yahoo Acquisition
||India ratifies Two Fundamental Global Conventions to combat Child Labour
||RBI identifies 12 Bank Accounts accounting 25% of NPAs to initiate Bankruptcy Proceedings
||DRDO Successfully Test-fires anti-Tank Nag Missile
||Ministry of Railways launches Mission Retro-Fitment
Verizon Completes Yahoo Acquisition
- Telecom giant Verizon has acquired Yahoo’s core business for $4.48bn (£3.51m)
- Verizon will combine Yahoo with AOL which was bought by it two years ago to establish a venture called Oath.
- The remainder of Yahoo which is not acquired by Verizon will change its name to Altaba Inc
India ratifies Two Fundamental Global Conventions to combat Child Labour
- India has ratified two key global conventions for combating child labour as a step towards creating full respect for fundamental rights at work.
- The two key conventions are related to the elimination of child labour- the Minimum Age Convention, 1973 (No 138) and the Worst Forms of Child Labour Convention, 1999 (No. 182).
- India has become the 181st member of ILO to ratify Convention No 182 which requires state parties to prohibit and eliminate worst forms of child labour, including slavery, forced labour and trafficking; the use of children in armed conflict; the use of a child for prostitution, pornography and in illicit activities such as drug trafficking; and hazardous work.
RBI identifies 12 Bank Accounts accounting 25% of NPAs to initiate Bankruptcy Proceedings
- 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.
- Each of the 12 identified accounts was having more than 5,000 crore rupees of outstanding loans, of which at least 60% was classified as non-performing by banks as of March 31, 2016.
- Indian banks have an estimated Rs 10 trillion as stressed assets. Of this, gross bad loans amounts close to Rs 7.7 trillion and the rest constitutes the restructured loans.
DRDO Successfully Test-fires anti-Tank Nag Missile
- The Defence Research and Development Organisation (DRDO) has successfully test fired anti-tank ‘Nag’ missile in Rajasthan.
- The test was conducted by Scientists of the Dr. A.P.J. Abdul Kalam Missile Complex at Hyderabad, Defence Laboratory at Jodhpur, High Energy Materials Research Laboratory (HEMRL) at Pune and Armament Research and Development Establishment (ARDE) at Pune.
- The anti-tank Nag missile is one of the five missile systems developed by the Defence Research and Development Organization (DRDO) under the integrated guided missile development programme (IGMDP)
Ministry of Railways launches Mission Retro-Fitment
- Minister of Railways Suresh Prabhu has launched Mission Retro-Fitment to enhance the passenger experience by upgrading the existing fleet of coaches.
- Mission Retro-Fitment is an ambitious program of the ministry or railways to upgrade the level of furnishing & amenities in the coaches of Indian Railways.
- Under Mission Retro-Fitment, 40,000 coaches will be refurbished and retrofitted in the next five years. The mission aims to induct about 40,000 coaches with upgraded interiors by 2022-23. The mission will be one of the largest retro fitment projects in the world.
The above daily current affairs digest has been compiled by Sagrika Mehta
Daily Current Affairs Digest for 2017