National Current Affairs

Mitra Shakti 2017: India-Sri Lanka Joint Military Exercise held in Pune

The 5th India-Sri Lanka joint training exercise “Mitra Shakti 2017” was held Aundh Military Station in Pune, Maharshtra.  The two weeks exercise (October 13 and 25) is based on Counter Terrorist Operations (CTO) and Infantry company from both countries are participating in it.

Mitra Shakti 2017

The aim of joint training is to exchange best of military practices of two countries and build strong military-to-military (M2M) relation between two armies. It also aims at developing joint strategies by sharing the expertise of conducting operations, especially in counter-insurgency and counter terrorism (CI and CT) environment under UN mandate. The training module of exercise will include weapons training, basic military tactics and complex battle strategies.

Background

The Mitra Shakti series of exercise between India and Sri Lanka had started in 2012, mainly as a response to China’s efforts to increase its influence in South Asia and Indian Ocean region. The armies of India and Sri Lanka also serve together in the United Nations Peacekeeping missions. The fourth edition of exercise was held at Sinha Regimental Centre in Ambepussa, Sri Lanka, in 2016 with main focus to enhance inter-operability in CI and CT operations under the UN mandate.

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IWAI raises Rs. 660 crore through Bonds

The Inland Waterways Authority of India (IWAI) has raised Rs. 660 crore as Fully Serviced Bonds. The oversubscribed bonds were issued through e-bidding on BSE Portal and the entire amount of Rs.660 crore was raised in single tranche at a coupon rate of 7.47%.

Key Facts

The proceeds from these bonds will be utilized by IWAI exclusively for capital expenditure for development of National Waterways (NWs) under National Waterway Act, 2016 during 2017-18. The principal and interest on these bonds will be financed by budgetary provisions in demand for grants of Ministry of shipping. The interest payment will be on semi-annual basis and the principal on maturity. Prior to raising bonds, IWAI had engaged arrangers, credit rating agencies, registrars and trustees. Both CRISIL and CARE rated proposed bonds of IWAI as “AAA: STABLE”.

Inland Waterways Authority of India (IWAI)

IWAI is the statutory body in charge of the waterways in India. Its headquarters is located in Noida, UP. Its main function is to build the necessary infrastructure in the inland waterways, surveying the economic feasibility of new projects and also carrying out administration and regulation.

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