Pib

Pib

1. Commissioning of Offshore Patrol Vessel (OPV) ICGSSujay

‘Sujay’ meaning ‘Great Victory’ is projection of Indian Coast Guard’s will and commitment “To serve and Protect” the maritime interest of the nation. The ship is based at Paradip, Odisha under the operational and administrative control of Commander Coast Guard Region (North-East).

This 105 meter OPV has been designed and built indigenously by Goa Shipyard Ltd and is fitted with state-of-the-art navigation and communication equipment, sensors and machineries. The features include 30mm CRN 91 Naval Gun, Integrated Bridge System (IBS), Integrated Machinery Control System (IMCS), Power Management System (PMS) and High Power External Fire Fighting System. The ship is designed to carry one twin engine Light Helicopter and five high speed boats including two Quick Reaction Inflatable Boats for swift boarding operations, search and rescue, law enforcement and maritime patrol. The ship is also capable of carrying pollution response equipment to contain oil spill at sea.

2. Darpan Launched For Financial Inclusion Of Rural Population

The Minister of Communications Shri Manoj Sinha today launched DARPAN – “Digital Advancement of Rural Post Office for A New India” Project to improve the quality of service, add value to services and achieve “financial inclusion” of un-banked rural population. He said, the goal of the IT modernization project with an outlay of Rs. 1400 Crore is to provide a low power technology solution to each Branch Postmaster (BPM) which will enable each of approximately 1.29 Lakhs Branch Post Offices (BOs) to improve the level of services being offered to rural customers across all the states. Shri Sinha said that as on date, 43,171 Branch Post Offices have migrated under the “DARPAN”projectwith the aim of financial inclusion to rural population and it is targeted to complete the project by March, 2018.

The Project shall increase the rural reach of the Department of Posts and enable BOs to increase traffic of all financial remittances, savings accounts, Rural Postal Life Insurance, and Cash Certificates; improve mail operations processes by allowing for automated booking and delivery of accountable article; increase revenue using retail post business; provide third party applications; and make disbursements for social security schemes such as MGNREGS.

3. IMF and WB release the Financial System Stability Assessment (FSSA) and Financial Sector Assessment (FSA) respectively on their websites

IMF and WB today released the Financial System Stability Assessment (FSSA) and Financial Sector Assessment (FSA) respectively on their websites. India welcomes assessment of the Indian financial system undertaken by the joint IMF-World Bank team conforming to the highest international standards. The Second comprehensive FSAP has now been successfully conducted for India in 2017.

FSAP, a joint program of the International Monetary Fund (IMF) and the World Bank (WB involved in developing countries and region only), undertakes a comprehensive and in-depth analysis of a country’s financial sector. Since September 2010, it is being undertaken in 25 jurisdictions (now 29), with systemically important financial sectors, including India, every five years. Last FSAP for India was conducted in 2011-12 and the report published by IMF on Jan 15, 2013.

The FSAP assessment acknowledges that India has recorded strong growth in recent years in both economic activity and financial assets with size of the financial system remaining broadly stable in terms of GDP at about 136 per cent. Increased diversification, commercial orientation, and technology-driven inclusion have supported growth in the financial industry, backed up with improved legal, regulatory, and supervisory frameworks. The FSAP report acknowledges many efforts by Indian authorities like tackling Non-Performing Assets (NPAs), recent recapitalization measures for banks and introduction of special resolution regime, formalization of National Pension System (NPS) and making the pension sector regulator statutory, passing of Insolvency and Bankruptcy Code and setting up of Insolvency and Bankruptcy Board of India (IBBI), to name a few. It appreciates initiatives such as ‘no frills’ account (under Jan DhanYojana), promoting digitization, introduction of unique biometric identification number (AADHAR), currency exchange initiative etc. It also recognizes the improved inter-agency co-operation since the establishment of Financial Stability and Development Council (FSDC), supported by its Sub-Committee and four technical groups and progress in setting up of Financial Data Management Centre (FDMC).

4. Journalism is a ‘Unique Vocation’ to serve the truth: Vice President

The Vice President said that he was heartened to know the due importance is being given to Sanskrit – an epitome of our rich classical linguistic traditions, in the course curriculum. He further said that Journalism has always been looked upon as a mission to serve people —Primarily, it is a public service. It should be remembered that the Freedom of Speech and Expression enshrined in our constitution is not absolute, but bound by reasonable restrictions, he added.

The Vice President said that in view of the critical role journalism plays in protecting democracy and in serving the larger good of the society, the profession must maintain highest ethical, moral and reporting standards. He further said that Journalists must never shirk from the core principles of journalism like independence and objectivity and shun unhealthy practices such as sensationalism. Of late, the undesirable practices of mixing news with views, partisan reportage and paid news have crept into journalism, he added.