Important Extracts from The Hindu: 17 June 2017

Israeli writer wins Man Booker International

  • Israeli author David Grossman has won the Man Booker International Prize 
  • For the Book: A Horse Walks Into a Bar 

X-ray space telescope launched

  • China has launched its first X-ray space telescope to study black holes, pulsars and gamma-ray bursts. 
  • Name of the Telescope: The Hard X-ray Modulation Telescope (HXMT) 

Aadhaar must for bank accounts

  • The government has made it mandatory to provide Aadhaar to open a bank account and to conduct a transaction of Rs. 50,000 or more. 
  • Government did this by amending the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 

Vocab from the Article

Foist: impose an unwelcome or unnecessary person or thing on.
As used in the article: There are serious concerns about privacy and security of personal data related to Aadhaar. The govt. must not foist mandatory Aadhaar.

Serbia's first gay PM- designate honored by nomination

  • Name of the new Prime Minister of Serbia: Ana Brnabic 

Bhushan, Essar Steel among 12 firms listed

  • The Reserve Bank of India (RBI) has directed lenders(banks) to immediately move the National Company Law Tribunal (NCLT) to begin insolvency proceedings against 12 defaulters including Essar Steel, Bhushan Steel and Alok Industries 
  • Some of theother borrowers are Lanco Infratech, ABG Shipyard, Electrosteel Steels, Jyoti Structures, Bhushan Power & Steel 

Vocab from the Article

Erosion: the gradual destruction or diminution of something.
As used in the Article: The filings could have far reaching implications, as India’s new insolvency code sets out a tight deadline for restructuring resolutions to be struck, failing which the defaulters would be moved into forced liquidation, potentially leading to further value erosion and jeopardizing tens of thousands of jobs.

Infosys U.S. head Dadlani quits

  • Infosys president and head of its America business Sandeep Dadlani, has decided to quit Infosys 

Vocab from the Article

Stint: a person's fixed or allotted period of work; a person's fixed or allotted period of work
As used in the Article: Infosys president and head of its America business Sandeep Dadlani, has decided to quit Infosys after a stint of more than 16 years.

CCI rejects complaint against Jio

  • the Competition Commission has dismissed allegations of unfair business practices made against Mukesh Ambani-led Reliance Jio Infocomm 
  • This is the second time that the Competition Commission of India has rejected a complaint against Reliance Jio 
  • On June 9, the Competition Commission had dismissed similar allegations made by telecom major Bharti Airtel.

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