Current Affair Short Notes of the week 29 July to 04 August 2018. Read Important Current Affairs for UPSC/SSC/Bank and other state exam

Current Affair Short Notes of the week 29 July to 04 August 2018.

Indian Railways launches ‘Mission Satyanishtha’

The Indian Railways launched ‘Mission Satyanishtha’ and a programme on Ethics in Public Governance, in a first-of-its-kind event, at a day-long function held at National Rail Museum, New Delhi on July 27, 2018.

The key objective of the Satyanishtha mission is to train every employee to understand the need and value of ethics in personal and public life and to deal with ethical dilemmas in life and public governance.

Government launches logo, tagline for 'Geographical Indication' certified products

Union Commerce and Industry Minister Suresh Prabhu launched the tricolour logo and a tagline for Geographical Indication (GI) certified products.

The logo has tagline “Invaluable Treasures of Incredible India” printed below it. The winning logo was designed by Adri Chatterjee and the winning tagline was coined by Akancha Tripathi.

From now on, GI-registered goods will sport logo and tagline to make them more attractive. The GI logo will act as a certifying mark that can be used to identify all registered GIs irrespective of the categories.

Lok Sabha passes Criminal Law (Amendment) Bill, 2018

The Lok Sabha passed the Criminal Law (Amendment) Bill, 2018 that proposes to enhance punishment for rape of a child. The Bill amends the Indian Penal Code (IPC), 1860 to increase the minimum punishment for rape of women from seven years to ten years.

The Bill seeks to replace the Criminal Law (Amendment) Ordinance promulgated following an outcry over the rape and murder of a minor girl in Kathua in Jammu and Kashmir and the rape of another woman at Unnao in Uttar Pradesh.

Lok Sabha passes Constitution (123rd amendment) Bill

The Lok Sabha passed the Constitution (123rd Amendment) Bill that seeks to provide constitutional status to the National Commission for Backward Classes (NCBC).

The crucial bill was passed unanimously by the house with over two-third majority, with all 406 members present voting in favour after an almost five-hour long debate. The House passed the bill superseding the amendments by the Rajya Sabha.

During the debate on the bill, several members demanded a census to ascertain the population of other backward classes (OBCs) while some others pressed for making public the socio-economic survey of 2014.

Parliament passes Bill for merger of subsidiary banks with SBI

The Indian Parliament passed the State Banks (Repeal and Amendment) Bill, 2017 that merges the subsidiary banks with the State Bank of India (SBI).

The Bill seeks to repeal the State Bank of India (Subsidiary Banks) Act, 1959, the State Bank of Hyderabad Act, 1956. These Acts established the State Bank of Bikaner, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, and State Bank of Hyderabad, the subsidiaries of the SBI.

Lok Sabha passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018

The Lok Sabha passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018. The Bill was introduced in the parliament on July 23, 2018.

The Bill seeks to replace the Insolvency and Bankruptcy Code (Amendment) Ordinance 2018. It amends the Insolvency and Bankruptcy Code, 2016 to clarify that allottees under a real estate project should be treated as financial creditors.

It also allows the withdrawal of a resolution application submitted to the National Company Law Tribunal (NCLT) under the Code. This decision can be taken with the approval of 90 percent of the committee of creditors.

Union Cabinet approves law provisioning death penalty for maritime piracy

The Union Cabinet on August 2, 2018 approved a bill provisioning death penalty or life imprisonment to those involved in piracy at sea.

The main objective of the anti-maritime piracy bill is to have a domestic anti-piracy legislation to provide the necessary legal framework within the country for the prosecution of those involved in piracy-related crimes. Under the bill’s provisions, the act of committing piracy will be punishable by death or life imprisonment.