Published on: May 22, 2024
Snippets :22 MAY 2024
Snippets :22 MAY 2024
- The RBI issued draft regulations to strengthen project financing for infrastructure, non-infrastructure, and commercial real estate sectors. The framework aims to mitigate financial risks, address delays and cost overruns, and encourage responsible lending. Key revisions include increased provisioning requirements, stricter prudential conditions, clear repayment norms, and mandatory standby credit facilities. Initial observations suggest mixed impacts on profitability and confidence among major banks.
- GalaxEye, a Bengaluru-based startup, successfully tested Synthetic Aperture Radar (SAR) technology on a High Altitude Pseudo-Satellite (HAPS) developed by the National Aerospace Laboratories. HAPS are stratospheric drones that use solar energy and advanced batteries for prolonged surveillance. SAR technology generates high-resolution, all-weather images for applications like defense, meteorology, and disaster management. GalaxEye’s success advances India’s technological capabilities, supporting the ‘Aatmanirbhar Bharat’ initiative and enhancing defense and environmental monitoring
