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Daily Archives: May 1, 2024

DRDO's Supersonic Missile-Assisted Torpedo Delivery System Achieves Success

DRDO’s Supersonic Missile-Assisted Torpedo Delivery System Achieves Success

The Defence Research and Development Organisation (DRDO) has achieved a significant milestone in enhancing India’s anti-submarine warfare capabilities with the successful flight-test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system. This next-generation torpedo delivery system was successfully flight-tested on May 01, 2024, at around 8:30 AM from Dr. APJ Abdul Kalam Island off the …

Uttarakhand Suspends Licences of 14 Patanjali Ayurved Products

Uttarakhand Suspends Licences of 14 Patanjali Ayurved Products

The Uttarakhand government has suspended the manufacturing licenses of 14 products from Patanjali Ayurved, founded by Baba Ramdev, citing misleading advertisements about their efficacy. This move comes amid ongoing scrutiny and legal proceedings against Ramdev for non-compliance with directives to cease misleading advertising. Uttarakhand Government’s Action The drug regulator of Uttarakhand has suspended the manufacturing …

Banks Bid Rs 1.6 Trillion in Variable Rate Repo Auction Amid Tightening Liquidity

RBI Cancels Acemoney (India) NBFC License for Irregular Lending Practices

The Reserve Bank of India (RBI) has revoked the license of Acemoney (India) Limited, a Delhi-based non-banking financial company (NBFC), citing irregular lending practices. This action stems from the company’s violation of RBI guidelines regarding excessive interest charges and inadequate protection of customer information. Specifically, the RBI noted discrepancies in Acemoney’s management of risks and …

India's Growing Dependence on Chinese Imports: A Cause for Concern

India’s Growing Dependence on Chinese Imports: A Cause for Concern

A report by the Global Trade Research Initiative (GTRI) highlights India’s escalating dependence on Chinese imports, with the import bill surging to over $101 billion in 2023-24 from around $70 billion in 2018-19. Over the past fifteen years, China’s share of India’s industrial goods imports has risen significantly, reaching 30%, while imports from China have …