Sushma Swaraj became the first woman External Affair Minister

1. Sushma Swaraj became the first woman External Affair Minister

i. Sushma Swaraj became the first woman External Affairs Minister on 26 May 2014. She was also been given the charge of Overseas Indian Affairs.

Note:

i. She became the first woman Chief Minister of Delhi in October 1998

ii. She became the first woman spokesperson for any political party in India

iii. Apart from this, she also became the youngest cabinet minister in Haryana government at the age of 25 in 1977. 

2. Next round of Iran nuclear talks set for June 16-20 in Vienna

i. The next round of international talks over Iran’s nuclear programme has been scheduled for June 16-20 in Vienna, a spokesman for EU foreign policy Chief Catherine Ashton said on Tuesday, following informal talks in Istanbul with her Iranian counterpart.

ii. “(Ms. Ashton) held very long and useful discussions with Foreign Minister Mr. (Javad) Zarif in order to inform the negotiations on the Iranian nuclear programme,” Michael Mann said of Monday’s meeting.

iii. The talks between Tehran and Ms. Ashton - who is negotiating on behalf of Britain, China, France, Russia, the United States and Germany - are aimed at placing strict limitations on Iran’s nuclear programme, in return for ending sanctions against the Islamic Republic.

iv. The six powers are concerned that Iran could use enriched uranium or plutonium to make nuclear weapons. Iranian leaders insist they are only interested in nuclear energy and scientific applications.

3. RBI tightened acquisition & merger rules for Non-Banking Financial Companie

i. The Reserve Bank of India (RBI,) tightened merger rules for non-bank finance companies (NBFCs) to ensure fit and proper character of the management of NBFC.

ii. The RBI on 26 May 2014 notified the Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014. The directions will come into force with immediate effect.

iii. The direction includes the prior written permission of the Reserve Bank of India shall be required for any takeover or acquisition or control of an NBFC, whether by acquisition of shares or otherwise.

iv. Besides, any merger or amalgamation of an NBFC with another entity or any merger or amalgamation of an entity with an NBFC which will result in acquisition or transfer of shareholding in excess of 10 percent of the paid up capital of the NBFC will also need approval of RBI.