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News in Short

News in Short - 07-June-2021

Nigeria suspends twitter

Date: 07 June 2021 Tags: Miscellaneous
  • Nigeria has indefinitely suspended Twitter's activities two days after the social network deleted a tweet from President Muhammadu Buhari.
  • The microblogging site deleted a tweet by the President which Nigerians had criticized as a declaration of war. In the deleted tweet, Buhari had made a reference to the country's 30-month civil war in 1967-1970.
  • The move also brought widespread condemnation from human rights groups and international powers, who say it will limit free speech in Nigeria.

Serum institute gets nod to produce Sputnik vaccine

Date: 07 June 2021 Tags: Miscellaneous
  • The Serum Institute of India has been granted permission by the Drug Controller General of India for manufacturing the Sputnik V in the country.
  • The Pune-based SII has collaborated with Gamaleya Research Institute of Epidemiology and Microbiology, Moscow in Russia for developing Sputnik V at its licensed Hadapsar facility.
  • The SII will have to submit a copy of the agreement between it and the Gamaleya Research Institute of Epidemiology and Microbiology for transfer of cell bank and virus stock and submit the copy of agreement for technology transfer with Gamaleya.

INS Sandhayak decommissioned

Date: 07 June 2021 Tags: Military
  • Hydrographic survey ship INS Sandhayak was decommissioned after 40 years of service, at the Naval Dockyard Visakhapatnam. This was indigenously designed and built.
  • The ship was conceptualised by the then Chief Hydrographer to the Government of India, Rear Adm FL Fraser, who had a strong desire for indigenously designed and built hydrographic survey vessels in India.
  • The design was finalised by Naval Headquarters and the construction began at Garden Reach Ship Builders Limited (GRSE) Kolkata (then Calcutta) by laying the keel in 1978.

RBI to purchase G-secs worth Rs 1.2 lakh crores

Date: 07 June 2021 Tags: Monetary Policy & RBI
  • The Reserve Bank of India (RBI) has decided to conduct another operation under G-SAP 1.0 for purchase of G-Secs of ?40,000 crore on June 17, 2021.
  • It has also been decided to undertake G-SAP 2.0 in Q2:2021-22 and conduct secondary market purchase operations of ?1.20 lakh crore to support the market.
  • During the current year so far, the Reserve Bank has undertaken regular OMOs and injected additional liquidity to the tune of ?36,545 crore in addition to ?60,000 crore under G-SAP 1.0.
  • A purchase and sale auction under operation twist has also been conducted on May 6, 2021 to facilitate the smooth evolution of the yield curve.

MoD clears project to build 6 submarines

Date: 07 June 2021 Tags: Miscellaneous
  • The Ministry of Defence (MoD) has cleared a mega project to domestically build six conventional submarines equipped with state-of-the-art technology at a cost of around ? 43,000 crore.
  • The submarines will be built under strategic partnership model that allows domestic defence manufacturers to join hands with leading foreign defence majors to produce high-end military platforms to reduce import dependence.
  • The government also said that from a strategic perspective, the decision will help reduce current dependence on imports and gradually ensure greater self-reliance.
  • The Indian Navy plans to acquire 24 new submarines, including six nuclear attack submarines, to bolster its underwater fighting capability. It currently has 15 conventional submarines and two nuclear submarines.