Lok Sabha refers bill to ban unregulated deposit schemes to Parliament panel
• The Lok Sabha on August 9, 2018 referred a bill seeking to ban unregulated deposit schemes to the parliamentary standing committee on the ground that it required thorough deliberations.
• When the Banning of Unregulated Deposit Schemes Bill 2018 was taken up for discussion, the House, through a voice vote, decided to refer it to the Standing Committee on Finance.
• The bill is aimed at tackling the menace of illicit deposit-taking activities across the country.
• Companies and institutions, running such schemes, exploit the existing regulatory gaps and lack of strict administrative measures to dupe the poor and gullible people of their hard- earned savings, the objective of the bill stated.
Justice Gita Mittal becomes first woman Chief Justice of J&K High Court
• In its nine decades-long history, the Jammu and Kashmir have got its first woman Chief Justice as well as the first woman judge.
• Justice Gita Mittal, the acting Chief Justice of the Delhi High Court, has been appointed as the Chief Justice of the J&K High Court. President Ram Kovind on August 3 issued a notification in this regard.
• Gita Mittal is the first women from the field of law and justice to be conferred the Nari Shakti Puraskar, India’s highest civilian honour for women.
Saina Nehwal drops out of top 10 in BWF ranking
• Ace Indian shuttlers Saina Nehwal and Kidambi Srikanth slipped down from their positions in the latest BWF singles rankings released on August 9, 2018 due to their poor form at the badminton World Championship.
• While Saina dropped out of top 10 after she slipped down a place to be at the 11th position, Kidambi Srikanth slipped two places to the eighth position.
• P V Sindhu, who clinched her second successive silver medal at the World Championship, remained static at the third spot. H S Prannoy, who also lost in the second round at Nanjing, also remained steady at the 11th place.
• Mixed doubles pair of Ashwini Ponnappa and Satwiksairaj Rankireddy made a massive jump of 12 places to be at their career-best ranking of 28th position.
• Satwik and Chirag Shetty also improved a couple of places to be world no. 23 in the latest men's doubles ranking.
Indian-American high school student wins International Geography Bee World Championship
• Indian-American high school student Avi Goel has won the world championship at the International Geography Bee's junior varsity division which was held in Berlin in July 2018.
• The 14-year old is a tenth grader at Silver Creek High School in Evergreen, San Jose, California.
• He won a gold medal in seven out of 10 medal events and a silver medal in two of the events, topping the overall medal tally.
• He also bagged the top spot in all the three events counting towards the world championship title -the International Geography Exam, the International Geography Showdown and the International Geography Bee.
Rajya Sabha decides to defer discussion on Muslim Women (Protection of Rights on Marriage) Bill 2017
• The Rajya Sabha on August 10, 2018 decided to defer discussion on the Muslim Women (Protection of Rights on Marriage) Bill 2017.
• The Chairman of the house, M Venkaiah Naidu announced that the discussion on the bill will not take place because of differences among political parties.
• The Triple Talaq Bill aims to protect rights of married Muslim Women and prohibit instant Triple Talaq.
PM announces setting up of 12 modern biofuel refineries
• Prime Minister Narendra Modi announced on August 10, 2018 said that 12 modern bio-fuel refineries worth Rs 10,000 crore will be established across the country.
• The establishment of the refineries will provide employment to 1.5 lakh youth. The announcement was made while the Prime Minister was addressing an event on the occasion of World Biofuel Day 2018 in New Delhi.
• The Prime Minister further said that the government is targeting 10 per cent ethanol blending in petrol by 2022 and 20 per cent by 2030. He said, record production of ethanol has happened in the last four years.
NRC correction forms made available in Assam
• The forms for claims, objections and corrections in the latest draft of National Register of Citizens were made available at the NRC Seva Kendras in Assam from August 10, 2018.
• The forms can also be downloaded from www.nrcassam.nic.in.
• The submission and receipt of claims, objections and corrections forms will start from August 30 and will continue till September 28, 2018.
• While claims and objections can only be submitted at the Seva Kendras, corrections can also be made online. Around 40 lakh names have been reportedly left out from the latest draft.
• The final NRC will be published only after disposal of all claims, objections and corrections.
IMF forecasts India's GDP to grow at 7.3% in current fiscal
• The International Monetary Fund says India's GDP is poised to grow by 7.3 per cent in the 2018-19 fiscal and 7.5 per cent in 2019-20 on strengthening of investment and robust private consumption.
• IMF, in its latest projection, said the near-term macroeconomic outlook for India is broadly favourable.
• It said, headline inflation is projected to rise to 5.2 per cent in the fiscal year 2018-19, as demand conditions tighten, along with the recent depreciation of the rupee and higher oil prices, housing rent allowances and agricultural minimum support prices.