Top 5 Current Affairs: 11 August 2017
Banking Regulation Bill enable the Central government to authorize the RBI to direct banking companies to resolve specific stressed assets by initiating insolvency resolution process.
Real Madrid defeated Manchester United, the winners of the 2016–17 UEFA Europa League, to grab the 2017 UEFA Super Cup.
Real Madrid on 8 August 2017 won the match 2–1 for their fourth UEFA Super Cup title.
The match was played at the Philip II Arena in Skopje, Macedonia. It was the first UEFA final staged in the country. Real Madrid’s Isco was declared the Man of the Match.
The Delhi Assembly on 10 August 2017 passed two amended Bills- Minimum Wages (Delhi) Amendment Bill 2017 and Netaji Subhas Institute of Technology (NSIT) Bill, 2017.
The NSIT Bill, 2017 aims to give the Netaji Subhash Institute of Technology the status of a university. • Once the Bill becomes Act, the NSIT will become facilitator, a centre for integrated learning, a research centre and support for incubation. The Minimum Wages (Delhi) Amendment Bill, 2017 aims to hike minimum wages of the workers in the state.
Rajya Sabha passed the Banking Regulation (Amendment) Bill, 2017 on 10 August 2017. The bill which was earlier passed in the Lok Sabha will now be sent to President Ramnath Kovind for his nod.
The bill seeks to amend the Banking Regulation Act, 1949 to insert provisions for handling cases related to stressed assets of banks. Stressed assets are loans where the borrower has defaulted in repayment or where the loan has been restructured. It will also replace the Banking Regulation (Amendment) Ordinance, 2017 which was promulgated on 4 May 2017.
The Supreme Court of India issued a list of directions to curb pollution on 10 August 2017. One of the main directions is for the insurance companies, which states that the companies will not renew insurance of a vehicle unless the owner provides pollution under control (PUC) certificate. The decision was taken by a bench of justices headed by Justice Madan B Lokur.
The bench further asked the Ministry of Road Transport and Highways to ensure that all fuel refilling centres in the National Capital Region (NCR) have PUC centres.
Prior to giving out its order, the court considered the suggestions given by the Environment Pollution Control Authority (EPCA).
The newly-established Constitutional Assembly of Venezuela announced itself superior to all other governmental institutions, including the opposition-controlled congress.
The Assembly approved a decree on 8 August 2017 that obliges other government bodies to recognize its wide-ranging powers and adhere to its decisions.
In addition, the order prohibits the opposition-held National Assembly and other government bodies from taking any action that would interfere with the constituent assembly's laws.
The decree was passed amidst fears that the all-powerful constituent assembly will undermine the legislature and judiciary.
On the other hand, foreign governments and international bodies have refused to recognize the pro-government body.