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Evening News Digest: 8 Aug 2018

National Handloom Day: August 7

  • National Handloom Day is observed on 7 August each year to honour the handloom weavers in India and to also celebrate the profession which is historically related from ancient to modern history.
  • It was launched in 2015.
  • August 7 is also the day when Swadeshi Movement was started in 1905.
  • Its importance:

    1. The handloom sector provides employment to 4.33 million people and is the second biggest source of employment in rural India. 
    2. Approximately 95 per cent of the world’s handwoven fabric is from India.

Armies of India, Bhutan conduct joint cycling expedition

  • A joint cycling cum trekking expedition of Indian Army and Royal Bhutan Army conducted to commemorate “Fifty years of Establishment of Diplomatic Relations between India & Bhutan”.
  • The expedition which began on 31 July from Haa Dzong in Bhutan had a total of 17 personnel of both Armies participating, covering a distance of 384 km, across challenging mountainous terrains both in India & Bhutan.
  • India and Bhutan completed 5o years of their diplomatic relations.

Sports Minister flags off an all-women expedition to Mt. Manirang

  • Ministry of Youth Affairs and Sports on Aug 7 flagged off an all-women expedition to Mt. Manirang (6593Mt) in Himachal Pradesh.
  • The expedition commemorates the silver jubilee of 1993 Women Everest expedition.
  • The Indo-Nepalese women’s Everest expedition in 1993 was the first all women expedition, launched by Indian Mountaineering foundation, funded by the Ministry of Youth Affairs and Sports.
  • Mt. Manirang

    1. Mount Manirang is one of the biggest mountains in Himachal Pradesh.
    2. It lies on the border between Kinnaur district and Lahaul and Spiti district.

K Karunanidhi: Former TN Chief Minister passes away

  • K Karunanidhi passed away on 07 Aug 2018 in Chennai. He was one of the leading politician and considered as one of the finest statesman.
  • K Karunanidhi’s Life Sketch and his achievements:
  • An overview of his achievements:

    1. Karunanidhi brought a law giving women the rights to claim share in their ancestral property, equal to men, even before India passed a law at the centre.
    2. Through the first class public insurance scheme 'Kalaignar Kaapittu Thittam', he helped poor on a massive scale.
    3. People used to call him Kalaignar (Scholar of Arts).
    4. He was the longest serving president of Dravida Munnetra Kazhagam Party.
    5. Karunanidhi launched the first graduate scheme, under which free education was to be provided for the first graduate from a family irrespective of the gender.
    6. He was first one to bring proper waste management system in Tamil Nadu.
    7. Karunanidhi practiced atheism and never involved religion in order to win elections.
    8. Like his mentor Annadurai, Karunanidhi used his writing skills to further the ideology of the Dravidian movement through Tamil cinema.

3rd India-Nepal Coordination meeting held in New Delhi

  • The 3rd India-Nepal Coordination meeting was held in New Delhi to discuss security issues.
  • The focus was on the discussion on issues related to security along the border and sharing of information on criminals.
  • Five Indian states share a land border with Nepal: Uttarakhand, Uttar Pradesh, Bihar, West Bengal, and Sikkim.

Financial Resolution and Deposit Insurance Bill withdrawn from Lok Sabha

  • The central government on Aug 6 withdrew the Financial Resolution and Deposit Insurance (FRDI) bill following widespread criticism of its controversial provisions.
  • The “bail-in” clause was highly controversial as it suggested that depositor money could be used by failing financial institutions to stay afloat.
  • The lack of clarity over protecting existing levels of deposit insurance for smaller deposits also led to a lot of criticism.
  • At present, deposit insurance is available for all deposits of up to ₹1 lakh but there was no clarity on whether it will be continued in the bill.
  • Why FRDI was introduced?

    1. The FRDI bill, 2017 was tabled in the Lok Sabha in August 2017, following which it was referred to the joint parliamentary committee.
    2. It was brought in to limit the failure of institutions such as banks, insurance companies, non-banking financial companies, pension funds and stock exchanges.
    3. The FRDI Bill sought to make an enabling law for creation of an independent resolution corporation to carry out speedy and efficient resolution of financial firms in distress, among others.

Maharashtra announces special assistance of Rs 500 crore for OBC community

  • Maharashtra Chief Minister Devendra Fadnavis has announced that Rs 500 crore will be given to the OBC Corporation in the next two budgets to provide employment opportunities to youths from the OBC community.
  • Maharasthtra government has also sent a recommendation to the Central government for honouring Mahatma Jyotiba Phule and his wife Savitribai Phule---the social reformers of the 19th Century--with Bharat Ratna, the country's highest civilian award.
  • In Maharashtra, the OBCs enjoy 17 per cent quota at present.
  • First person who was given Bharat Ratna award after death was former PM Lal Bahdur Shastri.
  • Jyotiba Phule (1827-90):

    1. He was a social reformer born into Maharastra.
    2. He was the founder of Satya Shodhak Samaj.
    3. A pioneer in the field of women’s education, he is the one who opened the first ever girls’ school in India.
    4. The great reformer from Mumbai, Rao Bahadur Vithalrao Krishnaji Vandekar gave Jyotirao Phule the title of “Mahatma” in May 1888 in recognition of his selfless services to humanity.
  • Savitribai Phule (1831-97):

    1. Savitribai Phule was born in a family of farmers in Naigaon, Maharashtra. 
    2. Married at the tender age of nine, she fought against social evils like child marriage and sati pratha.
    3. She laid emphasis on educating women and along with her husband, Jyotirao Phule, she opened the first school for girls in India. They together went on to open 18 schools for girls.
    4. At a time when caste system was embedded in Indian society, she promoted inter-caste marriages.
    5. She along with her husband founded the Satyashodhak samaj which used organise marriages without a priest and dowry.

Indian men's hockey team jumps one spot to 5th in FIH rankings

  • Indian Men’s Hockey Team was ranked 5th position in the latest FIH rankings release on Aug 7.
  • Australia is currently the No.1 team in world rankings.
  • International Hockey Federation (FIH) also ranked the Indian Women’s Hockey Team at 9th position.
  • The Indian women's team is the ranked highest in Asia, ahead of the likes of Korea (10th), China (11th) and Japan (14th).

Three-day Chinese film festival to begin in Kolkata

  • The Chinese consulate in Kolkata will organize a three day film festival in Kolkata.
  • Seven Chinese films, including action-adventure comedy 'Kung Fu Yoga', martial arts flick 'Tai Chi Hero' and fantasy-drama 'Rest On Your Shoulder' will be screened at the festival.
  • It is a part of Chinese soft power diplomacy.

PepsiCo's CEO Indra Nooyi to step down in October

  • PepsiCo CEO Indra Nooyi will step down after 12 years of leading the food and beverage giant.
  • Nooyi, 62, will leave the CEO role on October 3.
  • Ramon Laguarta, a 22-year PepsiCo veteran who was promoted to president last year, will take over as the CEO.
  • She was the first woman CEO of PepsiCo.


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