Daily Current Affairs- 8th August 2016

Dear Readers, we are providing Today's important current affairs of Competitive Exams specially for Bank and SSC

1. Union Government launches Swachh Survekshan-2017 to assess 500 cities
1. Union Minister of Urban Development M.Venkaiah Naidu on 6 August 2016 launched Swachh Suvekshan-2017 project to assess and rank 500 cities based on levels of sanitation and efforts made by respective urban local bodies.
2. It also aims to capture progress towards achieving Open Defecation Free status. 
3. Highlights of the Swachh Survekshan-2017
• Cities will be ranked based on the reports by urban local bodies on the progress made towards construction of toilets, feedback of citizens and independent observation of sanitation levels. 
• Cities with a population of one lakh and above each, heritage and tourism cities, capital cities with less than one lakh population are included in this survey.
• Quality Council of India which conducted the last Survey in 73 cities will conduct the survey in 500 cities and towns.

2. Australian surfing champion Bernard Farrelly died
1. Australian surfing champion Bernard Farrelly, best known as Midget for his slight size, died on 7 August 2016. He was 71. 
2. He won the first official surfing World Championship at Sydney's Manly Beach in 1964 and dominated the sport as it gained popularity during that decade. In 1963, he became the first Australian to win a surfing major at the unofficial world championships in Makaha, Hawaii.

3. PM Narendra Modi launches Mission Bhagiratha in Telangana
1. Prime Minister Narendra Modi launched Mission Bhagiratha at Komatibanda Village, Gajwel in Medak District of Telangana. The scheme was launched by the State Government with an objective to provide safe drinking water to all.
2. The Prime Minister also unveiled plaques to lay Foundation Stones for important development projects. These included:
• 1600 MW Thermal Power station of NTPC at Ramagundam
• Revival of a Fertilizer Plant at Ramagundam; Kaloji Narayana Rao University of Health Sciences, Warangal and Manoharabad-Kothapalli Railway line. 
• He also dedicated to the nation the 1200 MW Thermal Power Station of Singareni Collieries at Jaipur in Adilabad district.
3. Highlights of the Mission Bhagiratha
• Mission Bhagiratha is Telangana Water Grid Project intended to provide a sustainable and permanent solution to the drinking water woes. 
• It is a pet project taken up at an outlay of 42000 crore rupees. 
• Apart from creating a water grid for supply drinking water to houses, it aims to rejuvenate more than 45000 water tanks. 
• The water grid project aims at reaching out drinking water supply to even remotest place in the State to every household across the State in the coming four years. 

4. HDFC board gives nod to HDFC Life-Max merger
1. Moving a step closer to form the country’s biggest private sector life insurer, the board of HDFC today approved the merger of Max Life and Max Financial Services with its insurance arm HDFC Standard Life Insurance Company.
2. The total premium of the merged entity is expected to be nearly Rs 26,000 crore and assets under management will top Rs 1 lakh crore. In the private life insurance space, only ICICI Prudential Life Insurance had reported AUM of Rs 1 lakh crore.
3. HDFC also said that post-merger its shareholding in HDFC Standard Life would be 42.5 per cent and consequently the insurance firm would cease to be a subsidiary.Edinburgh-based Standard Life Plc holds 35 per cent stake in HDFC Life, in which HDFC owns 61.63 per cent.
4. Max Life is a joint venture with Mitsui Sumitomo Insurance Company. Max Financial owns 68 per cent stake in Max Life, while Mitsui Sumitomo owns 26 per cent.