India’s premier defence research institute( DRDO )carried out “successful” test flight of its Rustom 2 drone, a medium-altitude long-endurance unmanned aerial vehicle (UAV), at Chalakere in Karnataka. Rustom 2 is being developed on the lines of predator drones of the US to carry out surveillance and reconnaissance (ISR) roles for the armed forces with an endurance of 24 hours.
The test-flight has proved to be successful and met all its parameters to be normal according to Defence Research and Development Organisation (DRDO). This flight is the first flight in user configuration with higher power engine and got its significance.
Rustom 2 has been developed on the lines of predator drones of the united states to handle surveillance and reconnaissance (ISR) tasks for the military with an stamina of a day, officials said.
“DRDO successfully flew its Rustom 2 ,at its Aeronautical Test Range (ATR) at Chalakere at Chitradurga. This air travel assumes significance because of the fact that is the first flight in user construction with higher power engine,” a declaration read.
The Defence Research and Development Company (DRDO) said the test flight was “successful” and everything its parameters were “normal”.
Rustom 2 is with the capacity of carrying different combinations of payloads like synthetic aperture radar, electronic intelligence systems and situational awareness payloads, officials said.
DRDO chairman S Christopher, its Director General of Aeronautical System CP Ramanarayanan, DG Communication and Consumer electronics Systems J Manjula and other older researchers witnessed the test airline flight.
The around Rs 1,500-crore UAV project was initiated considering dependence on the Army, Air and navy Force.
The UAV has been designed and developed by Aeronautical Development Establishment (ADE) of the DRDO, and aerospace major Hindustan Aeronautics Bharat and Ltd Electronics Ltd are its production partners.
The 9.5 m-long UAV, that includes a wingspan of 20.6 m, can carry a variety of payloads to carry out cleverness, surveillance, and reconnaissance (ISR) missions. Included in these are medium- and long-range electrooptic systems, a synthetic aperture radar, digital and communication intelligence systems, and situational understanding.
Indian private company Zephyr Aerospace built the airframe for the Rustom-2, as the DRDO’s Defence Electronic devices Applications Laboratory developed its data link system.
Rustom-II UAV is one of the Rustom group of UAVs, which include Rustom-I, Rustom-C and rustom-h. It was designed for use by the Indian MILITARY.
The first trial of the Rustom-I UAV was conducted on 16 November 2009 at the Taneja Aerospace Air Field near Hosur in the Indian state of Tamil Nadu.
Rustom 2 drone
Rustom 2 is a medium-altitude long-endurance unmanned aerial vehicle. It really is on par around drones in its category.
Rustom 2 is a medium-altitude long-endurance unmanned aerial vehicle.
It is much like the American made Predator drone and can travel every day and night at stretch.
Rustom-2 can carry out sustained surveillance and can carry weapons along with surveillance equipment.
It’s the first air travel in user construction with higher power engine.
The Reserve Standard bank of India (RBI) has directed banks to link SWIFT (Society for World Interbank Financial Telecommunication System platform) with their core banking solutions (CBS) by April 30, 2018. This decision is part of RBI’s attempts to tighten internal controls in banks following Rs 11,400 crore fraud that was unearthed at Punjab National Loan provider (PNB).
CBS is centralized software used to support bank’s most common transactions .The Reserve Loan company of India (RBI) has directed banking institutions to link the SWIFT (Culture for World Inter bank Financial Telecommunication System platform) – a global financial messaging service which was misused by jeweler Nirav Modi at Punjab Country wide loan provider – with the core banking solutions (CBS) of banks by Apr 30, 2018.
Core banking refers to a centralized system founded by a loan
provider which allows its customers to conduct their business irrespective of the bank’s branch.
While the failure of SWIFT-CBS link led to the Rs 11,400 crore fraud at PNB, many banks are yet to establish the linkage. There was an urgent need for banking institutions to revisit their surveillance system and plug the loopholes added by Ananthasubramanian, who is now MD and CEO of Allahabad Loan provider, SWFIT is not linked to CBS, and the process of linking both the systems is currently on.
The SWIFT system promoted in 1973 by banks globally is utilized to transmit messages relating to cross border financial transactions. Globally over 11, 000 financial institutions in more than 200 countries use the services of SWIFT which is viewed as secure. On receiving this message through SWIFT, banks abroad, mostly branches of Indian banking institutions abroad, especially in the case of Indian firms provide funds to the company.
This credit which is against import documents is normally for 90 days and this service is utilized regularly especially by companies which are in the business of gold, gems and jewellery. This is essentially a short term foreign currency loan on which banks charge say 60 to 90 basis points on the London Inter bank Offered Rate or Lib or – the international benchmark for pricing loans or lending. Companies take recourse to this form of funding as the costs of raising money overseas are relatively lower compared to rupee funding.
Nirav Modi allegedly acquired fraudulent characters of starting (LoU) from PNB’s Brady House branch in Mumbai to secure overseas credit from other Indian lenders using the SWIFT system that was not associated with CBS. Authorization for issuance of LOUs frequently, whether forged or otherwise and for such huge amounts without it being captured in the system or red flagged is a major internal control failure rather than just the transmitters of communications through SWIFT.
The RBI also required a tightening of the use of SWIFT infrastructure; a limit on forex payment instructions where beneficiaries were individuals; and an additional coating of security on transactions beyond a certain threshold.
Most of the actions have to be implemented at once, while the deadlines for others range from the end of March to the end of June.
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications.It is a messaging network that financial institutions use to securely transmit information and instructions through a standardized system of codes.