Today in History (August 8th, 1942)
On this day, in 1942, Mahatma Gandhi launched the Quit India Movement for freedom from British rule in Mumbai.
Summary of Today’s News
Mines and Minerals (Development and Regulation) Amendment Bill, 2023
India’s Mines and Minerals (Development and Regulation) Amendment Bill, 2023, aims to attract private sector investment in critical minerals exploration. The bill allows private firms to bid for exploration licenses (EL) through competitive auctions. However, uncertainties about revenue generation and auctioning licenses for undiscovered minerals pose challenges. The bill seeks to reduce import dependency and boost exploration with private-sector participation.
Malabar Exercise
The 31st edition of the Malabar multilateral exercise of QUAD will be hosted by Australia for the first time from August 11 to 21 in Sydney. The Quad, or Quadrilateral Security Dialogue, is an informal strategic forum consisting of the United States, India, Australia, and Japan. Formed in 2007, its primary objective is to promote a free, open, prosperous, and inclusive Indo-Pacific region. The Quad aims to maintain maritime security and conduct meetings, summits, information exchanges, and military drills among its members. It is seen as a strategic grouping to counter Chinese influence, secure sea routes, uphold a rules-based global order, and provide alternative debt financing for Indo-Pacific countries.
Cambodia Prime Minister
Cambodia’s King Norodom Sihamoni appointed Hun Manet, the son of outgoing Premier Hun Sen, the country’s new Prime Minister, initiating a power handover after almost four decades of rule. Hun Sen is one of the world’s longest-serving leaders.
Manipur Violence
The Chief Justice of India, D.Y. Chandrachud, announced that the Supreme Court would appoint an all-woman committee, headed by Justice Gita Mittal, to provide relief and rehabilitation in violence-torn Manipur. The committee will also include Justice Shalini Phansalkar Joshi and Justice Asha Menon. Additionally, the court will appoint retired IPS officer Dattatray Padsalgikar to monitor the investigation of cases registered during the violence.
STA Crypto Token
The Economic Offence Wing (EOW) of Odisha Police has claimed to uncover a cryptocurrency-based Ponzi scheme involving ₹1,000 crores and two lakh investors. The EOW arrested Gurtej Singh Sidhu, the India head of STA Crypto Token, and alleged that the company operated a multi-level marketing (MLM) scheme using the guise of green energy and solar technology. The scheme promised monetary benefits to members for recruiting new members. It is estimated that over 10,000 people from Odisha and more than two lakh members in India were part of the scheme.
