SC appointed SIT detects 70 thousand crore rupees Black Money

SC appointed SIT detects 70 thousand crore rupees Black Money Justice (retd) Arijit Pashayat, the Vice-Chairman of the Supreme Court-appointed Special Investigating Team (SIT) on black money, on 2 March 2017 said so far the amount of unearthed black money from across the country stands to Rs 70 thousand crore. This Rs 70000 crore of black money includes more than Rs 16000 crore, which was detected after a probe was launched into the global leaks about Indians stashing funds abroad. It was unearthed through different schemes of the government. SC reconstituted SIT headed by Justice MB Shah to probe into Black Money Cases Justice Arijit Pashayat gave the information after a high-level meeting of SIT on black money. The meet was held in Cuttack. In addition to this, he also said that the SIT is hopeful that the amount will rise substantially in coming days. Justice Pasayat also informed that the committee will submit its sixth report to the Apex court in the first week of April 2017. Highlights of Justice Pasayat’s information • He said the SIT during the past two years has made several recommendations through its interim reports to the Apex court for the Central government to check the generation and tap the black money at the source. • He said, that on the SIT’s recommendation, the Government has already declared that cash transaction beyond Rs 3 lakh is to be treated as illegal and punishable. Justice Shah headed SIT on black money recommends ban on cash transactions above 3 lakh rupees The meeting assumes significance as it was held for the first time after demonetisation undertaken by the Union government. About the SIT on Black Money The SIT on black money was reconstituted by the Supreme Court on 1 May 2014. It was reconstituted with an aim to provide guidance and direction in investigation of all cases of black money in the country and abroad. The apex court appointed retired Judge MB Shah as its Chairman and retired Judge Arijit Pasayat as the Vice Chairman.

DRDO hands over 3 products to Indian Army

DRDO hands over 3 products to Indian Army The Defence Research and Development Organisation (DRDO) on 2 March 2017 handed over three of its products for induction into the Indian Army at a function in New Delhi. The Defence Minister Manohar Parrikar, who presided the function, handed over the products to the Chief of the Army Staff General Bipin Rawat on behalf of DRDO. The three new products are  – i. Weapon Locating Radar (WLR), SWATHI ii. NBC Recce vehicle iii. NBC Drugs Indian Navy successfully test-fired Anti-Ship Missile from Kalvari Class Submarine Features of Weapon Locating Radar (WLR), SWATHI • It was developed by the DRDO’s Electronics and Radar Development Establishment (LRDE). • The radar provides fast, automatic and accurate location of all enemy weapons like mortars, shells and rockets firing within in its effective zone of coverage. • The SWATHI simultaneously handles multiple projectiles fired from different weapons at different locations. • The system is capable of adjusting the fire of our own artillery weapon also. • The weapon includes 81mm or higher calibre mortars, 105mm or higher calibre shells and 120mm or higher calibre free flying rockets. • Thus WLR has two roles to perform - Weapon Location Mode for enemy artillery and Direction of Own artillery Fire (DOOAF) Mode for our own artillery. Features of NBC Recce Vehicle Mk-I • The NBC Recce Vehicle Mk-I was developed by Vehicles Research and Development Establishment (VRDE). • It carries out post-event recce of nuclear, biological and chemical contaminated areas. • It is capable of collecting solid and liquid samples of biologically contaminated areas, mark the nuclear and chemical contamination zone and transfer the recce data speedily to support formations. Indian Coast Guard Ship ICGS AYUSH commissioned in Kochi About NBC Drugs • The drugs were developed by the DRDO’s Institute of Nuclear Medicine and Allied Sciences (INMAS). • INMAS has carried out extensive research and laboratory trials in the past two decades to develop formulations for use as antidotes and de-corporating agents for Chemical, Biological, Radiological and Nuclear (CBRN) emergencies. • Out of the several formulas developed by INMAS, 15 drugs have been identified for induction.