Passage 1
Supersonic Missile-Assisted Release of Torpedo (SMART) system was successfully flight-tested at around 0830 hrs on May 01, 2024 from Dr APJ Abdul Kalam Island off the coast of Odisha. SMART is a next-generation missile-based light-weight torpedo delivery system, designed and developed by the Defence Research and Development Organisation (DRDO).
This canister-based missile system consists of several advanced sub-systems, namely two-stage solid propulsion system, electromechanical actuator system, precision inertial navigation system etc. The system carries advanced light-weight torpedo as payload along with parachute-based release system.
The missile was launched from the ground mobile launcher. Several state-of-the-art mechanisms such as symmetric separation, ejection and velocity control have been validated in this test.
Source: https://pib.gov.in/PressReleaseIframePage.a
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Passage 2
The Reserve Bank of India (RBI) barred a bank from onboarding new customers on its online and mobile banking channels, and issuing fresh credit cards. It would however be allowed to provide these services to its existing customers. The RBI stated the actions were necessitated because of deficiencies observed in the private lender’s IT systems and controls commensurate to its growth. Its CEO Ashok Vaswani stated recently the bank was in continuous dialogue with RBI to attain the desired compliance outcomes.
RBI observed “serious deficiencies and non-compliances” concerning the bank’s IT inventory and user access management, data leak and leak prevention strategy, business continuity and disaster recovery rigour and drill, among other things. This was based on the regulator’s examination of the private bank’s systems for two years, that is, 2022 and 2023
Source- The Kotak Mahindra Bank controversy |
