ExseedSAT – 1
- It is a CubeSat mission by the Indian private space company Exseed Space.
- It is going to be launched by Spacex, a private aerospace company, from California satellite launch pad.
- ExseedSAT is about to make history, as it will be the first Indian Private entity satellite to be launched by Spacex.
- It will be launched on board SpaceX’s Falcon 9 rocket.
- The satellite with a communication payload, will provide a major boost to ham radio operators in the country.
- It will be placed in a sun-synchronous low-earth orbit.
- It is expected to have a life of 2 years, depending up on how long the battery lasts and when the satellite de-orbits naturally.
India Infrastructure Finance Company Ltd (IIFCL)
- IIFCL is a wholly-owned Government of India company set up in 2006.
- It has been registered as a NBFC-ND-IFC with RBI since September 2013.
- It provides long term finance to viable infrastructure projects – Both Greenfield and Brownfield projects.
- It provides refinance to banks and other eligible financial institutions for their loans to infrastructure projects.
- The sectors eligible for financial assistance from IIFCL are as per the harmonized list of Infrastructure Sub-Sectors as approved by the Government and RBI.
- It broadly includes transportation, energy, water, sanitation, communication, social and commercial infrastructure.
- Recent Development – Asian Development Bank (ADB) and Government of India has recently signed $300 million Loan Agreement to support lending by IIFCL.
NBFC-ND-IFC
- RBI has classified Non-Banking Financial Companies (NBFCs) in to 4 categories.
- They are Asset Finance Companies, Loan companies and Investment Companies and Infrastructure Finance Companies (IFCs).
- An IFC is defined as Non-Deposit taking NBFC (NBFC-ND) that fulfils following criteria,
- A minimum of 75% of its total assets should be deployed in infrastructure loans,
- Net owned funds of Rs. 300 crore or above,
- Minimum credit rating 'A' or equivalent of CRISIL, FITCH, CARE, ICRA or equivalent rating by any other accrediting rating agencies and
- CRAR (Capital to Risk Weighted Assets ratio) of 15 % with a minimum Tier I capital of 10 percent.
Maternity Incentive Scheme
- Maternity Benefit Act was amended in 2017 to increase paid maternity leave from 12 to 26 weeks for all women employees in establishments employing 10 or more people.
- The implementation of the act was good in public sectors, but it was poor for those with private sector or contract jobs.
- In a bid to encourage private employers, Ministry of Labour and Employment is working on an incentive scheme.
- Accordingly, the government would bear the cost of maternity leave wages for 7 weeks for women workers with a wage ceiling up to Rs.15,000 per month.
- The ministry is in the process of obtaining budgetary approvals.
Aadi Mahotsav
- It is a national tribal festival organised by Ministry of Tribal Affairs and TRIFED.
- The theme of the festival – “A Celebration of the Spirit of Tribal Culture, Craft, Cuisine and Commerce”.
- It features exhibition -cum-sale of tribal handicrafts, art, paintings, fabric, jewellery and much more through 100 stalls.
Source: PIB, The Hindu
