Thursday Morning News Brief, March 15

Thursday morning brief Mar 15 2018
Good morning!
Here’s everything you need to know to start your day…
In their appeal in the Supreme Court, the CBI and the ED have detailed the ‘gross abuse of process of law’ by Karti Chidambaram. The appeal was filed by the probe agencies challenging a Delhi high court decision to grant interim relief to Karti in a Prevention of Money Laundering Act case. It is scheduledfor hearing today before a bench headed by CJI Dipak Misra.
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The US has challenged Indian export subsidies schemes at the WTO, saying these programmes harm American workers. The US Trade Representative (USTR) argued that at least half a dozen Indian programmes provide financial benefits to Indian exporters, which allow them to sell their goods more cheaply to the detriment of American workers and manufacturers.
The IAF has agreed to induct 324 of the indigenous jets to make up for its fast-depleting number of fighter squadrons. IAF has &ldquo;firmly committed&rdquo; to 123 Tejas jets at present, which will come at a cost of over Rs 75,000 crore if both developmental and production costs are taken into account. But it wants the next 201 Tejas Mark-II jets<a href=”https://timesofindia.indiatimes.com/india/iaf-commits-to-324-tejas-fighters-provided-a-good-mark-2-jet-is-delivered/articleshow/63306776.cms”> to be &ldquo;entirely new fighters&rdquo; </a>with much better avionics and radars, enhanced fuel and weapons carrying capacity.
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The Supreme Court has rejected the plea of BJP leader Subramanian Swamy seeking to intervene in the Ayodhya dispute. The court also <a href=”https://timesofindia.indiatimes.com/india/keep-off-babri-case-supreme-court-tells-swamy-and-activists/articleshow/63307743.cms”>rejected intervention applications by 17 others</a> along with the one filed by 32 eminent persons, who suggested that the disputed land be put to &ldquo;secualr use&rdquo; rather than dividing it on religious lines.
The government should decide what to do with the PSBs if it wanted to optimise the use of taxpayer money, said RBI governor Urjit Patel. Speaking on the<a href=”http://https://timesofindia.indiatimes.com/business/india-business/rbi-governors-veiled-pitch-for-psb-privatisation/articleshow/63307817.cms”> fraud at the Punjab National Bank</a>, Patel said, &ldquo;We at RBI also feel the anger, hurt and pain at the banking sector frauds and irregularities. In plain, simple English, these practices amount to a looting of our country&rsquo;s future by some in the business community, in cahoots with some lenders.&rdquo;
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