Morning Brief: India To Get Second Nuclear Submarine Today, Rs 70,350-Crore Reliance-Disney Merger Approved, Bangladesh Begins Freeing Islamists From Jails

Dear reader, start your day informed with the latest updates and key takeaways.

India's Second Nuclear Submarine To Be Commissioned Today

India's second nuclear-powered ballistic missile submarine (SSBN), INS Arighat, will be commissioned today (August 29) in Visakhapatnam. An upgraded version of India's first SSBN, INS Arihant, the new boat marks will improve the credibility to India's strategic nuclear deterrence by boosting second-strike capability. The submarine, part of a four-SSBN project, can carry up to four K-4 SLBMs with a range of over 3,500 km or twelve K-15 SLBMs with a 750 km range. The third SSBN, INS Aridaman (S4), is set for commissioning next year, followed by a fourth SSBN, S4*. The 6,000-tonne boat is also slated for a long-range Indo-Pacific patrol armed with K-15 missiles, Hindustan Times reports.

CCI Approves Rs 70,350-Crore Reliance-Disney Merger

India's Competition Commission has approved Reliance Industries' Rs 70,350-crore merger with Disney's Indian media assets, with conditions for voluntary modifications. The merger will create a major media conglomerate, combining Reliance with Viacom18, Digital18, Star India, and Star Television Productions. The CCI's approval addresses concerns about market dominance, especially in cricket broadcasting, ensuring fair competition. The decision, announced ahead of Reliance's 47th AGM on August 29, paves the way for significant changes in the media landscape.

Bangladesh Begins Freeing Islamists From Jails

The Muhammad Yunus-led interim government in Bangladesh has released extremist leaders, allegedly influenced by the banned Jamaat-e-Islami. Among the latest to be freed is Jashimuddin Rahmani, head of the Islamist group Ansarullah Bangla Team (ABT). Prior to this, Jamaat reportedly facilitated the release of Brigadier General Abdullahil Aman Azmi and lawyer Ahmad Bin Quasem, both linked to Pakistan’s ISI. Azmi, son of former Jamaat chief Ghulam Azam, had ties to the Pakistani Army during the 1971 war. Critics argue the interim government is bypassing legal provisions, similar to its accusations against the previous administration.

'Didi, How Dare You Threaten Assam?' 

Assam Chief Minister Himanta Biswa Sharma has rebuked West Bengal Chief Minister Mamata Banerjee for her "If Bengal burns, so will Assam" remark, questioning her audacity to threaten Assam. In a post on X, Sharma criticised Banerjee for her divisive rhetoric and accused her of trying to stir up trouble with her politics of failure. Earlier, Banerjee had accused Prime Minister Narendra Modi of stoking unrest in Bengal over a recent rape and murder incident and threatened that unrest would spread to other states like Bihar, Jharkhand, and Odisha if Bengal was targeted.

Other Developments

PM Jan Dhan Scheme Now Serves 531 Million 

The Pradhan Mantri Jan Dhan Yojana, one of the first schemes launched by the NDA government in 2014, has completed a decade, benefiting 531 million people by facilitating monetary disbursements and reducing welfare fund pilferage. As of August 14, 2024, PMJDY accounts total 53.13 crore, with deposits of Rs 2,31,235.97 crore. Over half of these accounts belong to women, and 36.14 crore RuPay debit cards have been issued. Public sector banks hold the majority of accounts (41.42 crore), followed by Regional Rural Banks, private banks, and Rural Cooperative Banks.

Defense Ministry Warns Against Chinese Parts In Drones

The Defense Ministry has cautioned Indian companies against using Chinese spares and parts for manufacturing drones in India. The department of defense production has urged industry bodies like FICCI, Assocham, and CII’s Society of Indian Defense Manufacturers to advise manufacturers against sourcing components from firms using Chinese parts. This is critical as India has banned hardware and software from China and neighboring countries for drone systems. Recently, the army suspended the acquisition of 200 logistic drones from Dhaksha Unmanned Systems due to these concerns.

Nvidia Misses Expectations, Shares Dip

Nvidia's quarterly forecast fell short of investor expectations, causing its stock to drop 6% in after-hours trading and impacting other chipmakers. Despite strong growth and profit, the results were seen as mixed due to a smaller-than-expected earnings beat. Chief market strategist Ryan Detrick noted that the high bar set for Nvidia this season wasn't met. The company's revenue and gross margin forecast were close to analysts' predictions, overshadowing a $50 billion share buyback announcement.

Canada Warns Aide of Khalistani Terrorist Nijjar of Life Threat

Canadian police have warned Inderjeet Singh Gosal, an aide to pro-Khalistani separatist Hardeep Singh Nijjar, about an increased risk to his life. Nijjar was killed in British Columbia last year. The warning comes from Ontario police and the Royal Canadian Mounted Police. In September 2023, Canadian Prime Minister Justin Trudeau accused India of involvement in Nijjar's murder, which led to charges against four men. India has criticised Trudeau for aligning with terrorists for political gain. The FBI is also investigating a shooting in California that targeted an activist close to Nijjar.

From The States

Gujarat Floods: 35 Dead, 140 Dams And 24 Rivers Overflowing

Heavy rains in Gujarat have caused a flood-like situation, with 24 rivers and 140 reservoirs overflowing. The death toll from rain-related incidents has risen to 35, with nine additional fatalities reported on Wednesday (August 28). Around 8,500 residents have been relocated and rescued. The India Meteorological Department has issued a red alert for August 29, as heavy rains are expected to persist.

Bihar Shifts To GPS-Based Teacher Attendance

The Bihar government will implement online attendance for over 5.62 lakh school teachers starting in October, replacing manual methods due to widespread absenteeism complaints, particularly in flood-prone areas. The system, tested since June, uses a GPS-enabled app that requires teachers to be within 500 meters of the school to mark attendance. A similar move in neighboring Uttar Pradesh led to protests from teachers.

Karnataka HC To Hear CM's Petition Against Prosecution Order

The Karnataka High Court will resume hearing on Chief Minister Siddaramaiah's petition challenging the legality of Governor Thaawarchand's sanction for his prosecution in the Mysuru Urban Development Authority (MUDA) case. On August 16, the Governor granted sanction under the Prevention of Corruption Act. The Karnataka Chief Minister challenged this order from the Governor on August 19. The High Court had previously instructed the special court to defer proceedings until August 29.

ED Fines DMK MP Jagathrakshakan Rs 908 Crore

The Enforcement Directorate (ED) has imposed a Rs 908 crore penalty on S Jagathrakshakan, Arakkonam DMK MP, for violations of the Foreign Exchange Management Act (FEMA). Jagathrakshakan and his family are charged with breaching FEMA provisions related to a Rs 42 crore investment in a Singapore shell company and its transfer among family members. The Enforcement Directorate also identified violations concerning a Rs 9 crore investment in a Sri Lankan entity.

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