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Today's Headlines - 14 August 2023
Parachute deployment tests for Gaganyaan
GS Paper - 3 (Space Technology)

ISRO has successfully conducted a series of tests on drogue parachutes, which would play a pivotal role in stabilising the crew module and reducing its velocity to a safe level during re-entry in the planned Gaganyaan human space flight mission.

More about the Mission

The Gaganyaan mission hopes to safely transport astronauts to Space and back. Drogue parachutes are deployed to decrease speed and stabilise rapidly moving objects.
ISRO's Thiruvananthapuram-based Vikram Sarabhai Space Centre (VSSC) successfully conducted a series of Drogue Parachute Deployment Tests at the Rail Track Rocket Sled (RTRS) facility of the Terminal Ballistics Research Laboratory in Chandigarh during 8-10 August.
The tests were conducted in collaboration with Aerial Delivery Research and Development Establishment (ADRDE)/DRDO.
The drogue parachutes, packed within pyro-based devices known as mortars, are cleverly designed to eject the parachutes into the air upon command.
These conical ribbon-type parachutes, boasting a diameter of 5.8 metres, employ a single-stage reefing mechanism, ingeniously minimising canopy area and mitigating opening shock, ensuring a smooth and controlled descent.
During the three comprehensive tests conducted at the RTRS facility, a range of real-world scenarios were simulated to rigorously evaluate the performance and reliability of the drogue parachutes.
The first test simulated the maximum reefed load, marking a groundbreaking introduction of reefing in a mortar-deployed parachute within India.
The second test emulated the maximum dis-reefed load, while the third test showcased the deployment of the drogue parachute under conditions mirroring the maximum angle of attack experienced by the crew module during its mission.
These successful RTRS tests serve as a critical qualification milestone for the drogue parachutes, confirming their readiness for integration into the upcoming Test Vehicle-D1 mission.
Notably, earlier this year, theRTRS tests of Pilot and Apex cover separation parachutes were also conducted, further accentuating the progress of the Gaganyaan mission's parachute system development.
Theintricate parachute sequence for the Gaganyaan crew module's deceleration system encompasses a total of 10 parachutes.

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Today's Headlines - 22 August 2023
RBI's
pilot project for facilitating frictionless credit
GS Paper - 3 (Economy)

In a move aimed at easing access to credit, the Reserve Bank of India (RBI) launched a pilot project in the form of a "Public Tech Platform for Frictionless Credit" . The move seeks to give digital information to lenders to expedite access to credit or loans.

What is the 'Public Tech Platform for Frictionless Credit'?

It is an end-to-end digital platform that will have an open architecture, open Application Programming Interfaces (APIs), and standards to which all banks can connect in a "plug and play" model.
The Reserve Bank Innovation Hub, a wholly-owned subsidiary of the central bank, has developed the platform.
What is frictionless credit?

Frictionless credit is a borrowing approach that seeks to streamline the lending process for consumers.
Unlike the traditional credit systems, where individuals need to go through extensive paperwork, credit checks and lengthy approval procedures, frictionless credit promises a smoother and faster experience.
RBI's project is designed to smoothen Kisan Credit Card lending by automating various processes within the banks and integrating their systems with service providers.
How will the public tech platform help disburse loans?

Before a credit or loan is approved, it often takes lenders several days, a week or even months to process several sets of information.
Currently, data has to be sourced from credit information bureaus, account aggregators, and banks, which has led to obstacles in the timely delivery of lending.
The public tech platform seeks to make this process seamless by providing all the required information in one place to facilitate credit.
Linkages with other services

The public tech platform will facilitate linkages with services such as Aadhaar e-KYC, PAN validation, Aadhaar e-signing, account aggregation and house/property search data, among other things.
On 17 August 2023, Axis Bank said that it would offer Kisan Credit Card (KCC) and unsecured MSME loans to small business customers on the public tech platform.
As a pilot, Kisan Credit Cards will be offered in Madhya Pradesh and will be available to customers for up to Rs 1.6 lakh to begin with.
MSME loans will be available across the country and loans up to Rs 10 lakh will be offered to customers.

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