DRDO successfully flight-tests Solid Fuel Ducted Ramjet (SFDR) technology off Odisha coast.

  • The Defence Research and Development Organisation (DRDO) successfully flight tested Solid Fuel Ducted Ramjet (SFDR) booster on April 08, 2022, at the Integrated Test Range (ITR), Chandipur off the coast of Odisha.
  • The test met all the mission objectives.
  • The SFDR-based propulsion enables the missile to intercept aerial threats at very long range at supersonic speeds. It has an extremely high projected range of 350 km.
  • The SFDR has been developed by Defence Research and Development Laboratory, Hyderabad in collaboration with other DRDO laboratories such as Research Centre Imarat, Hyderabad and High Energy Materials Research Laboratory, Pune.

Picture Of Dresses Drapped On Crosses by Amber Bracken Wins 2022 World Press Photo of the Year.

  • A photograph by Canadian photographer Amber Bracken titled Kamloops Residential School has won the 2022 World Press Photo of the Year award.
  • The photo shows children’s clothing hung on crosses commemorating the more than two hundred children who died of maltreatment, neglect and disease at the Kamloops Indian Residential School in British Columbia.
  • The annual World Press Photo of the Year award is part of the World Press Photo Awards, organized by the Dutch foundation World Press Photo.
  • The award rewards photographers for the best single exposure pictures contributing to the past year of visual journalism.

RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank.

  • The Reserve Bank of India has imposed a penalty of Rs 93 lakh each on Axis Bank and IDBI Bank for non-compliance of certain directions issued by RBI.
  • A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for violating certain provisions on loans and advances, Know Your Customer (KYC) guidelines and ‘levy of penal charges non-maintenance of minimum balances in savings bank accounts.
  • The IDBI Bank has been slapped a fine of Rs 93 lakh for non-compliance of directions on frauds – classification and reporting by commercial banks and select financial institutions, violating norms on strengthening the controls of payment ecosystem between sponsor banks and corporate customers like SCBs/UCBs and cyber security framework.

SEBI Sets up two separate panels to review ownership norms of Sponsor and Trustees.

  • The Securities and Exchange Board of India (SEBI) has set up two separate Expert Groups to examine the roles, eligibility criteria and functions of sponsors and trustees at asset management companies (AMCs).
  • A sponsor is like a promoter who brings in the capital for setting up an AMC.
  • Trustee plays a supervisory role and is tasked with protecting investors interest.
  • The working group on Sponsors will be chaired by Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC.
  • The working group on MF trustees will be chaired by Manoj Vaish, Independent Trustee, Mirae MF.

Geetanjali Shree’s novel "Tomb of Sand" becomes 1st Hindi novel to get shortlisted for International Booker Prize.

  • In the history of International Booker Prize, a novel Tomb of Sand, authored by Geetanjali Shree, has become the first Hindi language work of fiction to be shortlisted for the prestigious literary prize.
  • The novel has been translated into English by Daisy Rockwell.
  • The book Tomb of Sand will compete with five other novels from around the world.
  • The literary prize comes with cash award of 50,000 pounds, which is split equally between the author and translator.

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