Important Extracts from The Hindu: 13 June 2017

Writer C. Narayana Reddy is dead

• Noted poet, lyricist and Jnanpeeth award winner C. Narayana Reddy, 85, died following a brief illness 
• Popularly known in literary circles as ‘CiNaRe’, he penned over 3,000 songs for Telugu feature films 

Vocab from the Article

Condole: express sympathy for (someone); grieve with.
As used in the Article: Governor E.S.L. Narasimhan, Chief Ministers K. Chandrasekhar Rao and N. Chandrababu Naidu were among several VIPs who condoled his death.

Nalanda University signs MoU with S. Korean academy

• A Memorandum of Understanding (MoU) was signed between Nalanda University and Academy of South Korean Studies in Patna for academic linkages and collaborations. 
• The vice-chancellors of both the universities were present. 

Three new sites recognised as biodiversity hotspots in Goa

• BirdLife International (a conservation organisation) has recognised three new sites in Goa as hotspots for protection. 
• The sites have been added to their list of “Important Bird and Biodiversity Areas”. 
• The inclusion of these ecological hotspots in a new book come after systematic data collection by the Goa Bird Conservation Network (GBCN) 
• New Sites: The list has now added Bondla Wildlife Sanctuary, Navelim Wetlands and Netravali Wildlife Sanctuary 

Vocab from the Article

Fragile: easily destroyed or threatened.
As used in the Article: The extent of Carambolim Wetland has been increased to include the fragile ecosystem of Dhado, which has recently become a wintering ground for many species of migratory birds.

Reliance General’s IPO plan wins nod

• Private-sector insurer Reliance General Insurance (RGI) has received the board’s approval for an initial public offering (IPO). 
• What is an IPO?: It is the very first sale of stock issued by a company to the public. 
• Reliance General Insurance is a wholly owned subsidiary of Anil Ambani’s Reliance Capital 

Vocab from the Article

Dilute: reduce the value of (a shareholding) by issuing more shares in a company without increasing the values of its assets
As used in the Article: We are planning to dilute minimum 10% in the current financial year and by 25% by FY’21, as regulation mandates,” Rakesh Jain, executive director and CEO, Reliance General Insurance, said while addressing the media on Monday.

IRDAI’s R.K. Sharma to administer Sahara Life

• The Insurance Regulatory and Development Authority of India (IRDAI) has appointed R.K. Sharma(general manager, F&A-NL) as administrator for managing the affairs of Sahara India Life Insurance Company Ltd. with immediate effect. 

CDSL to hit market on June 19 to raise Rs. 521 cr.

• The initial public offer (IPO) of Central Depository Services (India) Ltd. (CDSL) will open on June 19 in which the depository will offer a total of 3.52 crore shares in the price band of Rs. 145-149 pegging the offer size at Rs. 521 crore.

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