Current Context : The government has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a public financial institution under the Companies Act.

• The move will enhance the bank’s capacity to finance large-scale infrastructure projects, thereby bolstering the country’s infrastructure development.

ABOUT  NABFID

• NaBFID is a specialised Development Finance Institution (DFI).
• Established in 2021, by an Act (The National Bank for Financing Infrastructure and Development Act, 2021).
• It was set up to support long-term infrastructure financing in India, including:
  • Developing bonds and derivatives markets, Strengthening the country’s economy, and Addressing gaps in long-term non-recourse finance.
• Regulated and supervised as an All-India Financial Institution (AIFI) by the Reserve Bank of India (RBI).

Current Context :  Defence Research & Development Organisation (DRDO) and the Indian Navy successfully conducted the flight test of the Vertical Launch Short Range Surface-to-Air Missile (VL-SRSAM).

• Conducted from the Integrated Test Range (ITR) in Chandipur, off the coast of Odisha.
• Flight test was carried out from a land-based vertical launcher.

ABOUT VL-SRSAM

• It is a vertically launched surface to air missile with all-weather capability for use by Indian Navy.
• It is a ship borne weapon system designed to neutralise various aerial threats at close ranges, including sea-skimming targets.
• Features: Indigenous Radio Frequency (RF) seeker
• Equipped with advanced guidance systems and cutting-edge technologies that provide enhanced agility and precision in targeting.
• Developed by the Defence Research and Development Organisation (DRDO) of India.

Current Context : The Indian Army contingent departed for the 5th edition of India-Oman Joint Military Exercise AL NAJAH.

• The exercise is scheduled to be conducted from 13th to 26th September 2024 at Rabkoot Training Area in Salalah, Oman.
• It has been held biennially since 2015, alternating between India and Oman.
• Last edition of the exercise was conducted at Mahajan in Rajasthan.
• Aim : to enhance joint military capability of both sides to undertake counter terrorism operations.

Current Context : Union Minister for Fisheries, Animal Husbandry and Dairying launched the “Rangeen Machhli” mobile app.

ABOUT  

• Developed by ICAR-Central Institute of Freshwater Aquaculture with support from the Pradhan Mantri Matsya Sampada Yojana.
• The app is designed to meet the growing needs of the ornamental fisheries sector, providing crucial knowledge resources for hobbyists, aquarium shop owners, and fish farmers.
• It provides multilingual information on popular ornamental fish species in eight Indian languages.
• Features: Locate nearby aquarium shops, Promoting local businesses and connecting users with reliable sources for ornamental fish.

ABOUT ORNAMENTAL FISH FARMING :

• It is practise of raising attractive, colorful fishes of various characteristics, which are reared in a confined aquatic system.
• Indigenous Ornamental Fishes: Loaches, Eels, Barbs, Catfish, and Goby, Clown Fish etc.

Celebrated on September 16

• Aim : to spread awareness among people about the depletion of Ozone Layer and the measures taken/ to be taken to preserve it.
• Designated by the United Nations General Assembly.

Celebrated around the world on 15 September each year.

• Objective : Encouraging governments to strengthen and consolidate democracy.
• It was established through a resolution passed by the UN General Assembly in 2007.
• The day was first observed in 2008.

Celebrated on September 15 in India

• Aim : to honor the contributions of engineers and commemorates the birth anniversary of Sir M. Visvesvaraya.
• Sir M. Visvesvaraya born on September 15, 1861 was a renowned Indian engineer and statesman known for his pioneering work in civil engineering.

Current Context : Himachal Pradesh government has appointed retired IFS officer Rajiv Kumar as the new chairman of the Himachal Pradesh Rajya Chayan Aayog, Hamirpur.

• Rajiv Kumar, a 1988 batch Indian Forest Service (IFS) officer, previously served as the Chief Conservator of Forests in the state.
• In addition, two new members also been inducted into the Hamirpur Commission.
• The new members include retired Navy officer Rupan Bembe, a resident of Summerhill, Shimla, and Sukhdev Singh, a 2005 batch HAS officer.

Current Context :  Two anti-submarine warfare shallow watercrafts vessels (ASWCWC) of the Indian Navy were launched at Cochin Shipyard.

• The vessels are the fourth and fifth ships in the series of eight such watercraft.

ABOUT SHIPS

• Length : 78 meters long, 11.36 meters wide, and have a draught of about 2.7 meters.
• Speed of 25 knots and have an endurance of 1,800 nautical miles.
• Named as INS Malpe and INS Mulki.
• Each vessel has a displacement of approximately 900 tons.
• They are designed to accommodate an indigenously developed sonar for underwater surveillance.
• Each vessel has a total installed propulsion power of about 12 MW.
• Equipped with lightweight torpedoes, anti-submarine warfare (ASW) rockets, and mines and have a close-in weapon system with a 30mm gun. 

Current Context : The SBI Foundation has launched the 3rd edition of its Asha Scholarship Program, supporting 10,000 meritorious students from underprivileged backgrounds.

• Aim : to identifying and supporting meritorious students from the most underserved backgrounds, with a mission to make quality higher education accessible for young Indians.
• Eligibility : Students from Class 6 to the postgraduate level can avail of scholarships ranging from Rs15,000 to ₹20,00,000 in a year.
• It offers specialised categories for school students, undergraduates, postgraduates, as well as those enrolled in IITs and IIMs in India.
• The program includes categories for those in IITs, IIMs, and a special ‘Study Abroad’ category for SC and ST students.