Aero India 2019 inagurated at Bengaluru

The Aero India 2019 was inaugurated by Union Defence Minister Nirmala Sitharaman at the Yelahanka Air Force Station in Bengaluru.   The Aero India 2019 will be held for 5 days from February 20 to 24 and each day of the five day air show would have a special theme. Day one would be Inaugural Day, the theme for day two and three is Start-Up Day and Technology Day respectively Day, Day four would be Women’s Day and day five Public Day.

Aero India 2019

The Aero India 2019 has a tagline “The Runway to a Billion Opportunities”  and has a logo inspired by the Tejas Light Combat Aircraft (LCA). The Ministry of Defence has planned following events as per the theme of the day during the Aero India 2019:

Start-up Day

The Start-up day would witness a start-up showcase event on February 21 to tap into the highly motivated entrepreneurial talent pool of the country. The showcase event is aimed at providing the platform for interactions between the domestic and international start-up community, key policymakers in the Indian defence sector, and CEOs of leading Indian and global start-ups.

Womens’ Day

Women’s Day would be organised On February 23 to showcase achievements made by women in the aerospace sector on February 23. The Women’s Day would witness felicitation of women achievers, unveiling of the brochure highlighting achievements of women, experience sharing by leading women in Aero-Space Sector and flying display by women pilots, paratroopers etc.

Drone Olympics

Drone Olympics provides an opportunity for all the UAV manufacturing enthusiasts to showcase the capabilities of the Drones they are manufacturing.

Technology Day/Students Day

Technology Day would be observed on February 22 to provide an opportunity for the students involved in the aerospace sector, both civil and defence to showcase their projects.

Photography contest

A Photography contest would be held on the theme ‘Flying Objects’ for the general public during the closing day.

Missing man formation

Three aircrafts Jaguar, Tejas and Su-30 Mki flew past in the missing man formation to pay tribute to the Wing Commander Sahil Gandhi who lost his life while carrying out a practice sortie for the Aero India 2019.

Month: Categories: DefenceUPSC

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Capital Infusion of Rs. 48,239 Crore into 12 State-Run Banks

The government has approved the capital infusion of Rs. 48,239 Crore into 12 State-Run Banks. The capital inclusion has been undertaken to ensure the lenders are able to maintain regulatory capital requirement and step up lending and boost overall growth.

With this latest capital infusion, the government has now the government has now provided Rs 1,00,958 crore out of the Rs 1.06-lakh-crore bank recapitalisation plan. The remaining Rs. 5,000 crore capital infusion would be used as a buffer for any contingency or growth capital for Bank of Baroda which is in the process of merging Dena Bank and Vijaya Bank with itself.

How the capital infusion will benefit these PSBs?

RBI has lifted the curbs under the Prompt Corrective Action framework on Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) in early 2019. Eight other PSBs — Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank are still under PCA. PCA imposes curbs on expansion activities, among a number of other restrictions to help them get back to fiscal health.

The capital infusion has been undertaken to ensure that state-run lenders, which have emerged out of the PCA, remain above the triggers and help others such as Indian Overseas Bank, Central Bank, United Bank and UCO Bank meet minimum regulatory capital requirements.

Month: Categories: Business, Economy & BankingUPSC

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