June 2024

The Defence Research and Development Organisation (DRDO) has successfully completed six consecutive developmental tests of High Speed Expendable Aerial Target (HEAT) ‘Abhyas’ with advanced booster configuration from the Integrated Test Range (ITR) at Chandipur, Odisha. During the test, various mission objectives covering safe separation of booster, launcher clearance and stability performance were successfully accomplished. It operates with advanced technologies such as enhanced radar cross section, visual and infrared enhancement systems. About Abhyas:- ‘Abhyas’ has been designed by DRDO’s Aeronautical Development Establishment (ADE), Bengaluru. It provides a realistic risk handling scenario for weapon systems. This indigenous system is designed for autonomous flight with the help of an auto pilot, aircraft integration, pre-flight checks and laptop-based ground control system for autonomous flight. It also has a facility to record data during flight for post-flight analysis. The booster has been designed by Advanced Systems Laboratory and Navigation Systems Research Centre Imarat. Aeronautical Development Establishment (ADE) ADE is a premier aeronautical systems design house engaged in development of state-of-the- art unmanned aerial vehicles and aeronautical systems and technology requirements for the Indian Armed Forces. About DRDO:- Source-PIB, Dainik Jagran. 2.    Indian Govt Bonds Now Part Of JP Morgan’s Bond Index On Friday, India officially became part of JP Morgan’s Government Bond Index-Emerging Markets (GBI-EM). This inclusion will begin with a one-per-cent weight being transferred initially. This weight will increase by one percentage point each month until it reaches a cap of 10 per cent by March 31, 2025. As a result, India will join the ranks of China, Indonesia, and Mexico, each with a maximum cap of 10 per cent in the JP Morgan Global Bond Index – Emerging Market Global Diversified Index. What is the JP Morgan Emerging Market Index? The JP Morgan Emerging Market Bond Index (EMBI), created in the early 1990s, is the most widely referenced index for emerging market bonds. It began with the issuance of the first Brady bond and has since expanded to include the Government Bond Index-Emerging Markets (GBI-EM) and the Corporate Emerging Markets Bond Index (CEMBI). How many Indian Government Bonds are eligible for inclusion? JP Morgan said there are 23 IGBs that meet the index eligibility criteria, with a combined notional value of approximately Rs 27 lakh crore or $330 billion. What is the amount of flows that can come to India? According to estimates by some econo-mists, India is likely to receive $2 billion to $2.5 billion every month during the 10-month period starting June 28. Overall, it is expected that $20 billion to $25 billion of flows would come into India due to the inclusion. What would be the impact of the bond inclusion? It will not only result in lower risk premia, but will also help India to finance its fiscal and current account deficit (CAD), as well as enhance the liquidity and ownership base of government securities (G-secs; debt instruments issued by the central government to meet its fiscal needs). Global rating agency Fitch Ratings said that the inclusion of certain Indian sovereign bonds in key emerging-market bond indexes managed by JP Morgan will support a diversification of the investor base for Indian government securities. Will higher inflows be a concern for RBI? While higher inflows will boost the rupee, inflation is likely to come under pressure. When the RBI mops up dollars from the market, it will have to release an equivalent amount in rupees, putting pressure on inflation. Conclusion:- India’s entry into JP Morgan’s GBI-EM marks a significant development for the country’s financial markets, heralding increased investment and potentially greater stability for Indian government bonds. Source:–Business standard,The Indian Express 3.    Railway Protection Force (RPF)’S Sangyana App Railway Protection Force (RPF) launched Sangyana App, a comprehensive application for legal reference. Sangyana App has been designed and developed by the technical team of RPF to provide in- depth information on three new Criminal Acts: the Bharatiya Nyaya Sanhita (BNS) 2023, the Bharatiya Nagarik Suraksha Sanhita (BNSS) 2023, and the Bharatiya Sakshya Adhiniyam (BSA) 2023. Key Features of Sangyaan App: Possession) Act, 1966 and RPF Rules, 1987. This comprehensive database ensures that users have access to all critical legal information relevant to railway protection at fingertips. Railway Protection Force also released a ‘Handbook on Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023’ in both e-book and print formats. This handbook addresses the practical application of the Act in the Force’s operations. The mobile app and the handbook reflect the commitment of RPF to transparency, accessibility and the dissemination of crucial legal information. The Sangyaan app represents a significant step forward in legal resource accessibility and is a testament to the RPF’s commitment to leveraging technology for operational excellence.