Today's Headlines - 24 August 2023
Naval wargame Exercise Malabar concludes
The 27th edition of Exercise Malabar concluded on the east coast of Australia, off Sydney. The four-nation exercise witnessed the participation of ships, submarines, and aircraft from the Indian Navy, Royal Australian Navy (RAN), Japan Maritime Self Defence Force (JMSDF), and the US Navy (USN).
More about the Exercise
The exercise was conducted in two phases – a harbour (or planning) phase from 11 to 15 August, and a sea phase from 16 – 21 August, which saw the four navies actually implementing the plans that they had made.
The Indian Navy was represented by the indigenously built guided missile destroyer, INS Kolkata, the multi-role stealth frigate INS Sahyadri, and P-8I Poseidon maritime patrol aircraft.
There was a strong aircraft presence, including fighter aircraft, maritime patrol aircraft and shipborne helicopters.
The sea phase of Exercise Malabar witnessed complex and high intensity exercises in air, surface and undersea domains, weapon firings and cross deck helicopter operations.
The joint exercises at sea honed the war-fighting skills and enhanced interoperability between the four navies to undertake advanced maritime operations.
The seamless integration of air assets also showcased the exceptional coordination and interoperability between the Indian, Australian, and US maritime patrol aircraft units.
Exercise Malabar reaffirmed the ability of the four navies to operate together as an integrated force, while also highlighting their shared commitment to maritime security and regional stability through collaborative training and mutual understanding.
Flashback
At the culmination of five days of multifarious exercises, Exercise Malabar vividly showcased the strong cooperation, shared values, and the collective ability of the four participating nations to ensure a free, open and inclusive Indo-Pacific, promoting peace and security for all.
China has made it clear to the four participating countries that it sees Malabar as an inimical military grouping.
After Malabar 2007, China conveyed its displeasure in writing, seeking to know whom the exercise was directed against. Since then, the number of participating navies has doubled from two to four.
#upsc #news #headline #navalwargame #excercise #malabarconcludes #eastcoast #australia #sydney #fournation #submarines #aircraft #indiannavy #RAN #JMSDF #usnavy #USN #ships #seaphase #INS #Kolkata #sahyadri #patrol #fighter #helicopters #warfighting #air #surface #interoperability #integratedforce #indianaustralian #malabarchina #pacific #cooperation #multifarious #guidedmissile
Naval wargame Exercise Malabar concludes
The 27th edition of Exercise Malabar concluded on the east coast of Australia, off Sydney. The four-nation exercise witnessed the participation of ships, submarines, and aircraft from the Indian Navy, Royal Australian Navy (RAN), Japan Maritime Self Defence Force (JMSDF), and the US Navy (USN).
More about the Exercise
The exercise was conducted in two phases – a harbour (or planning) phase from 11 to 15 August, and a sea phase from 16 – 21 August, which saw the four navies actually implementing the plans that they had made.
The Indian Navy was represented by the indigenously built guided missile destroyer, INS Kolkata, the multi-role stealth frigate INS Sahyadri, and P-8I Poseidon maritime patrol aircraft.
There was a strong aircraft presence, including fighter aircraft, maritime patrol aircraft and shipborne helicopters.
The sea phase of Exercise Malabar witnessed complex and high intensity exercises in air, surface and undersea domains, weapon firings and cross deck helicopter operations.
The joint exercises at sea honed the war-fighting skills and enhanced interoperability between the four navies to undertake advanced maritime operations.
The seamless integration of air assets also showcased the exceptional coordination and interoperability between the Indian, Australian, and US maritime patrol aircraft units.
Exercise Malabar reaffirmed the ability of the four navies to operate together as an integrated force, while also highlighting their shared commitment to maritime security and regional stability through collaborative training and mutual understanding.
Flashback
At the culmination of five days of multifarious exercises, Exercise Malabar vividly showcased the strong cooperation, shared values, and the collective ability of the four participating nations to ensure a free, open and inclusive Indo-Pacific, promoting peace and security for all.
China has made it clear to the four participating countries that it sees Malabar as an inimical military grouping.
After Malabar 2007, China conveyed its displeasure in writing, seeking to know whom the exercise was directed against. Since then, the number of participating navies has doubled from two to four.
#upsc #news #headline #navalwargame #excercise #malabarconcludes #eastcoast #australia #sydney #fournation #submarines #aircraft #indiannavy #RAN #JMSDF #usnavy #USN #ships #seaphase #INS #Kolkata #sahyadri #patrol #fighter #helicopters #warfighting #air #surface #interoperability #integratedforce #indianaustralian #malabarchina #pacific #cooperation #multifarious #guidedmissile
Today's Headlines - 06 September 2023
UPI QR Code-CBDC interoperability
GS Paper - 3 (Economy)
With banks enabling the interoperability of Unified Payments Interface’s (UPI) Quick Response (QR) code with their central bank digital currency (CBDC) or e₹ application, users of retail digital rupee will be able to make transactions by scanning any UPI QR at a merchant outlet. Merchants can also accept digital rupee payments through their existing UPI QR codes. This integration of UPI and CBDC is part of the Reserve Bank of India’s (RBI) ongoing pilot project on pushing the retail digital rupee (e₹-R).
What is interoperability?
Interoperability is the technical compatibility that enables a payment system to be used in conjunction with other payment systems, according to the RBI.
Interoperability allows system providers and participants in different systems to undertake, clear and settle payment transactions across systems without participating in multiple systems.
Interoperability between payment systems contributes to achieving adoption, co-existence, innovation, and efficiency for end users.
What is UPI QR code-CBDC interoperability?
Interoperability of UPI with the digital rupee means all UPI QR codes are compatible with CBDC apps. Initially, when the pilot for the retail digital rupee was launched, the e₹-R users had to scan a specific QR code to undertake transactions.
However, with the interoperability of the two, payments can be made using a single QR code.
The digital rupee issued by the RBI, or the CBDC, is a tokenised digital version of the rupee.
The e₹ is held in a digital wallet, which is linked to a customer’s existing savings bank account. UPI is directly linked to a customer’s account.
How will it benefit customers and merchants?
The interoperability of UPI and CBDC will ensure seamless transactions between a customer and merchant without having the need to switch between multiple digital platforms.
It will allow a digital rupee user to make payments for their daily needs, such as groceries and medicines, by scanning any UPI QR codes at any merchant outlet.
Even merchants are not required to keep a separate QR code to accept the digital rupee payments. They can accept CBDC payments on their existing QR code.
What is a QR code?
A Quick Response (QR) code consists of black squares arranged in a square grid on a white background, which can be read by an imaging device such as a camera.
It contains information about the item to which it is attached, according to the National Payments Corporation of India (NPCI). QR code is an alternate contactless channel of payments. It allows merchants or businesses to accept payments from their customers directly into their bank accounts.
#upsc #news #headline #UPI #QR #code #CBDC #interoperability #economy #digital #currency #payments #RBI #adopation #transactions #systems #merchants #customer #account #benefit #NPCI #camera #wallet #rupee #multipleplatforms #national #corporations #india
UPI QR Code-CBDC interoperability
GS Paper - 3 (Economy)
With banks enabling the interoperability of Unified Payments Interface’s (UPI) Quick Response (QR) code with their central bank digital currency (CBDC) or e₹ application, users of retail digital rupee will be able to make transactions by scanning any UPI QR at a merchant outlet. Merchants can also accept digital rupee payments through their existing UPI QR codes. This integration of UPI and CBDC is part of the Reserve Bank of India’s (RBI) ongoing pilot project on pushing the retail digital rupee (e₹-R).
What is interoperability?
Interoperability is the technical compatibility that enables a payment system to be used in conjunction with other payment systems, according to the RBI.
Interoperability allows system providers and participants in different systems to undertake, clear and settle payment transactions across systems without participating in multiple systems.
Interoperability between payment systems contributes to achieving adoption, co-existence, innovation, and efficiency for end users.
What is UPI QR code-CBDC interoperability?
Interoperability of UPI with the digital rupee means all UPI QR codes are compatible with CBDC apps. Initially, when the pilot for the retail digital rupee was launched, the e₹-R users had to scan a specific QR code to undertake transactions.
However, with the interoperability of the two, payments can be made using a single QR code.
The digital rupee issued by the RBI, or the CBDC, is a tokenised digital version of the rupee.
The e₹ is held in a digital wallet, which is linked to a customer’s existing savings bank account. UPI is directly linked to a customer’s account.
How will it benefit customers and merchants?
The interoperability of UPI and CBDC will ensure seamless transactions between a customer and merchant without having the need to switch between multiple digital platforms.
It will allow a digital rupee user to make payments for their daily needs, such as groceries and medicines, by scanning any UPI QR codes at any merchant outlet.
Even merchants are not required to keep a separate QR code to accept the digital rupee payments. They can accept CBDC payments on their existing QR code.
What is a QR code?
A Quick Response (QR) code consists of black squares arranged in a square grid on a white background, which can be read by an imaging device such as a camera.
It contains information about the item to which it is attached, according to the National Payments Corporation of India (NPCI). QR code is an alternate contactless channel of payments. It allows merchants or businesses to accept payments from their customers directly into their bank accounts.
#upsc #news #headline #UPI #QR #code #CBDC #interoperability #economy #digital #currency #payments #RBI #adopation #transactions #systems #merchants #customer #account #benefit #NPCI #camera #wallet #rupee #multipleplatforms #national #corporations #india