Ø An expert panel constituted by the Home Ministry to find an
alternative to pellet guns for crowd control following an uproar against its
use in Kashmir has zeroed in on ‘PAVA shells’, a chilli-based ammunition, which
is less lethal and immobilises the target temporarily. The ‘PAVA shells’, as
per the blueprint prepared in this regard, had been under trial for over a year
at the Indian Institute of Toxicology Research, a Council of Scientific and
Industrial Research laboratory in Lucknow.
Ø China on Thursday urged India to do more to reinforce peace and
stability along the border, following reports that New Delhi was deploying
advanced cruise missiles in the eastern sector. Col. Wu’s remarks scaled down
observations in a commentary that appeared in PLA Daily, which said India’s
decision to deploy 100 missiles of an upgraded version in the northeast
exceeded its defence needs and posed a “serious” threat to Tibet and Yunnan.
The controversy precedes the visit of Prime Minister Narendra Modi to Hangzhou
next month for a meeting of the G-20 countries. Mr. Modi is expected to meet
Chinese President Xi Jinping on the sidelines of the summit. Mr. Modi will
reach Hangzhou after visiting Vietnam, which has expressed its interest in
buying the BrahMos missiles. India is free to export these missiles as it has
got the membership of the Missile Technology Control Regime. Vietnam has close
economic ties with China, but tensions between the two countries have been
growing on account of their differences over their maritime boundaries in the
South China Sea.
The
Reserve Bank of India (RBI) has announced a raft of measures to boost investor
participation and market liquidity in both the corporate bond and currency
markets. The central bank will allow commercial banks to issue rupee bonds in
overseas markets — known as Masala bonds, both for their capital requirement
and for financing infrastructure and affordable housing, according to an RBI
statement. Accepting many of the recommendations of the Khan Committee to
develop the corporate bond market, it has been decided to enhance the aggregate
limit of partial credit enhancement (PCE) provided by banks, permit brokers in
corporate bond repos, authorise the platform for repo in corporate bonds and
encourage credit supply for large borrowers through market mechanism.”
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