Current Affairs - September, 2018

Latest Current Affairs September, 2018 with Current Affairs, news summary on current events of National and International importance of September, 2018 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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ISRO setting up third launch pad at Sriharikota for Gaganyaan mission

Indian Space Research Organisation (ISRO) is setting up third launch pad at Sriharikota, Andhra Pradesh to undertake Gaganyaan manned space flight programme. ISRO currently has two launch pads which are already full. Third launch pad is being set up for the human space flight. It will be ready in time for the mission. In addition, ISRO is scouting for location on western sea coast near Gujarat to set up another launch pad for Small Satellite Launch Vehicles (SSLV).

Small Satellite Launch Vehicles (SSLV)

ISRO is developing SSLV to offer affordable launch options for smaller satellites through ANTRIX, the space agency’s commercial arm. The SSLV is expected to reduce launch time as well as cost less to launch small satellites, which are much in demand. ISRO currently piggybacks smaller satellites on Polar Satellite Launch Vehicle (PSLV) and Geosynchronous Satellite Launch Vehicle abbreviated (GSLV) along with bigger satellites.

Gaganyaan Mission

It will be India’s first manned space mission. Under it, India is planning to send three humans (Gaganyatris) into space i.e. in low earth orbit (LEO) by 2022 i.e. by 75th Independence Day for period of five to seven days. The mission was announced by Prime Minister Narendra Modi during his 72nd Independence Day speech. Under this mission, crew of three astronauts will conduct experiments on microgravity in space.  The crew will be selected jointly by Indian Air Force (IAF) and ISRO after which they will undergo training for two-three years. India will be fourth nation in the world after USA, Russia and China to launch human spaceflight mission.

Objectives of Gaganyaan Mission: Enhance of science and technology levels in the country, serve as national project involving several institutes, academia and industry, improve of industrial growth, inspire youth, develop technology for social benefits and improve international collaboration.

ISRO’s preparation

ISRO already has begun work on manned mission in 2004. It already has validated many of the critical technologies required for human spaceflight through various tests such as Space Capsule Recovery Experiment, Crew Module Atmospheric Re-Entry Experiment and Pad Abort Test.  ISRO will use its GSLV Mk-III launch vehicle which can carry heavier payload of Gaganyaan. This launch vehicle will take off from new launch pad of ISRO.

Month: Categories: Science and Technology Current Affairs - 2018

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NSE, LSE inks MoU for dual listing of masala bonds

National Stock Exchange of India (NSE) and London Stock Exchange (LSE) have signed Memorandum of Understanding (MoU) to collaborate on creating dual listing route for masala bonds and foreign currency bonds of Indian issuers. Through approval of single listing document, issuer can obtain dual listing on LSE’s International Securities Market and NSE’s GIFT City. It will serve as potential precursor of further joint listings in future that could see foreign currency bonds in India also being able to list in London.

Masala bonds

Masala bonds are rupee-denominated bonds through which Indian entities can raise money from foreign markets in rupee and not in foreign currency. Basically, it is debt instruments used by corporates to raise money from foreign investors in local currency.

The issuance of rupee denominated bonds transfers risk associated with currency fluctuations to investors and not to the issuers. This is especially during depreciation of domestic currency and when borrowing is in foreign currency as company has to pay more while repaying its debt, or while servicing interest on such borrowings if the rupee weakened.

From the issuer’s perspective, masala bonds provides cheaper borrowings compared to raising funds in India besides helps in diversifying its sources of fund-raising. Besides, it also helps in internationalization of the rupee and in expansion of Indian bond markets. Its issuance in long term can help to check slide of rupee and also reduce current account deficit over time.

Significance of dual listing of masala bonds

It will extend access to wider base of global investors as well as domestic and regional investors registered on NSE’s International Exchange and NSE IFSC Limited in Gujarat International Finance Tech City. It will also enhance visibility, increase liquidity in secondary marketsand enhance efficiency of price discovery for masala bond issuers. It will also reduce cost of raising capital for all issuers and encourage participation of wider variety of issuers in masala bond market.

Month: Categories: Business & Economy Current Affairs 2018

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