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Current Affairs - 08 August 2018


M Karunanidhi passes away at 94
  • M. Karunanidhi, five-time Tamil Nadu Chief Minister and DMK president for nearly 50 years, died after battling infection and age-related ailments for 11 days at the Kauvery Hospital in Chennai. Affectionately called Kalaignar (artiste and man of letters).
  • Leaders across the political spectrum, led by President Ram Nath Kovind and Prime Minister Narendra Modi, paid rich tributes to the DMK patriarch.
  • The Tamil Nadu government announced a public holiday on Wednesday and declared a seven-day State mourning for the departed leader.
  • Mr. Karunanidhi was the only Chief Minister in the State whose government was dismissed twice — during the Emergency in 1976 and in 1991 — by invoking Article 356. 
  • He created a record by winning all 13 Assembly polls he contested since 1957.
        INTACH bats for heritage buildings
        • The Indian National Trust for Art and Cultural Heritage (INTACH) has called for transforming heritage buildings in Rajasthan into “economic assets” for the society. Economic benefits could be derived from these properties as an alternative to paying for their upkeep on a regular basis.
        • INTACH chairman Maj. Gen. (Retd.) L.K. Gupta said here that the demolition of heritage buildings would contribute to global warming. He said an exercise had been launched for mapping of natural heritage in Thar desert with the participation of local communities for modern planning.
        K.M. Joseph takes oath as Supreme Court judge
        • Justice K.M. Joseph, who as Chief Justice of the Uttarakhand High Court set aside the Centre’s decision to impose President’s Rule in the State in 2016, was sworn in as a judge of the Supreme Court 
        • K.M. Joseph was sworn in by Chief Justice Dipak Misra along with Justices Vineet Saran and Justice Indira Banerjee.
        • SC now has 3 women judges :With the swearing-in of Justice Indira Banerjee, the Supreme Court on Tuesday, for the first time in its history, has three sitting women judges.
        • The two other women judges are Justices R. Banumathi and Indu Malhotra, the first Supreme Court woman judge who was directly appointed from the Bar.
        • Justice Banerjee is the eighth woman judge in the Supreme Court since Independence. 
        Sumatheendra Nadig, Kannada writer, dead
        • Kannada writer, poet, critic and translator Sumatheendra R. Nadig, 83, passed away after a brief illness.
        • Mr. Nadig published 11 collections of poetry, the last one being Jade Mattu Chetana. 
        • He has to his credit nine collections of literary criticism, four collections of short stories, and eight works of children’s literature.
        Access to Andamans eased
        • Foreigners no longer need a Restricted Areas Permit to visit 29 inhabited islands in the Andaman and Nicobar chain. 
        • The Union Home Ministry decided on Tuesday to lift restrictions as the government intends to boost tourism.
        • The 29 inhabited islands have been excluded from the restricted area permit (RAP) notified under the Foreigners (Restricted Areas) Order, 1963, till December 31, 2022, subject to certain conditions.
        • However, citizens of Afghanistan, China and Pakistan and foreign nationals having their origin in these countries would continue to require RAP to visit the Union Territory.
        • For visiting Mayabunder and Diglipur, citizens of Myanmar will continue to require RAP, which shall be issued only with the prior approval of the ministry.
        U.S. Ambassador meets J&K Governor, Omar
        • United States Ambassador to India Kenneth I. Juster on Tuesday met J&K Governor N.N. Vohra and former Chief Minister Omar Abdullah in Srinagar. 
        • A Raj Bhavan spokesman said Mr. Juster discussed the bilateral understanding on several fronts, particularly the war against terrorism. 
        Government introduces 4 GST amendment Bills
        • The government introduced four Bills seeking to amend the Goods and Services Tax (GST) laws that will make return forms simpler and raise the turnover threshold for availing composition scheme from ₹1 crore to ₹1.5 crore.
        • Finance Minister Piyush Goyal said the amendment Bills — the Central GST (Amendment) Bill, the Integrated GST (Amendment) Bill, the GST (Compensation to States) Amendment Bill and the Union Territory GST (Amendment) Bill — were primarily aimed at helping the MSME sector and small traders.


        Banks take about ₹70,000­cr. 
        hit due to frauds in last 3 years
        • Indian banks reported a total loss of about ₹70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed on Tuesday.
        • The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was ₹16,409 crore, ₹16,652 crore and ₹36,694 crore, respectively.
        • There were 139 borrowers with aggregate gross NPAs of more than ₹1,000 crore.
        • RBI had issued directions to banks in June 2017, instructing them to file applications for initiation of corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC) in respect of 12 borrowers. These borrowers had cumulative fund-based and non-fund based outstanding amount of ₹1,97,769 crore as on March 31, 2017.

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