security

Peru declares 60-day state of emergency

Peru declared a 60-day state of emergency on its Colombian border to ensure security from the menace of drug trafficking in a region. The state of emergency has been declared in Peru’s Amazonian province of Putumayo, which is separated from Colombia by the river of the same name. The president informed the first patrol was carried out by the Peru police and armed forces.

UNSC imposes an arms embargo on South Sudan

The United Nations Security Council has imposed an arms embargo on South Sudan, nearly five years after civil war erupted in the country. A United States-drafted resolution won the minimum nine votes needed, while 6 member states including Russia and China abstained. South Sudan has been at war since 2013, when President Salva Kiir accused then-deputy Riek Machar of plotting a coup.

MF transactions through Facebook messenger

HDFC securities announced the launch of Mutual Funds (MF) transactional capabilities on Facebook Messenger through their virtual assistant, Arya. This makes the company the first broker in the Asia Pacific region for initiating a social media platform for trading mutual funds. This particular feature facilitates a quick overview of total portfolio holdings.

Canada to command of new NATO training Centre

Canada has announced that it will assume command of a new NATO training and capacity building mission in Iraq. Canadian troops will be deployed in the Baghdad region to help Iraq build a more effective national security structure and improve training of security forces. Canada is part of the US-led coalition fighting the ISIS is contributing air power & helping in training Iraqi forces.

Kochi Metro launches India’s 1st AC dormitory

Kochi Metro Rail Limited (KMRL) will open India’s first exquisite air-conditioned bed space dormitory. The fully air-conditioned rooms are equipped with locker facility, free WiFi, round-the-clock check-in and check-out facility and security cameras. It was inaugurated by Kochi’s Mayor Soumini Jain. The current governor of Kerala is P. Sathasivam.

UK to double number of troops in Afghanistan

UK government is set to almost double the number of its troops in Afghanistan to help tackle the fragile security situation in Afghanistan. The additional forces will take part in a Nato-led training mission, called Resolute Support, to train & assist Afghan forces. They will be based in Kabul and will not be in a combat role. Britain ended combat operations in 2014.

SEBI to come out with consultation paper

The Securities and Exchange Board of India (SEBI) will soon come out with a consultation paper on making it mandatory for large corporates to meet one-fourth of their financing needs through bond market. SEBI will discuss with stakeholders before finalising the framework for corporates. SEBI is the regulator for the securities market in India and its chairman is Ajay Tyagi.

UNSC adopts resolution to protect children

UN Security Council has adopted resolution 2427 aimed at a framework for mainstreaming protection, rights, well-being and empowerment of children throughout the conflict cycle. The resolution won unanimous approval of 15 members of the council. The resolution strongly condemns the recruitment & use of children by parties to the armed conflict as well as their re-recruitment.

Tenth edition of Delhi dialogue

India will held the 10th edition of Delhi Dialogue on 19-20 July 2018. It is a premier annual event to discuss politico-security, economic and socio-cultural engagement with ASEAN members. RCEP is a free trade area consisting of 10 ASEAN members and six FTA partners which includes India.

Maldives is evasive on Indian maritime craft

Maldives is evasive on proposed LoE for deployment of India’s Dornier maritime surveillance aircraft in the archipelago. It led to a protracted standoff between two countries on the issue of defense and security offences. Maldives had asked India to remove both ALH Dhruv chopper from the Maldives by end of June but India is still looking for some settlement with the Maldives.

YES Bank to launch Mutual Fund Business

Private lender YES Bank announced that it has received final regulatory approval from the Securities & Exchange Board of India (SEBI) to start mutual fund business. This approval is subsequent to the Reserve Bank of India’s (RBI) approval. YES Asset Management (India), a wholly owned subsidiary of YES Bank, will launch fund offerings across the spectrum in both debt and equity markets.

Sri Lanka to shift its naval base

Sri Lanka is shifting one of its naval base to a port controlled and built by China. This move will strengthen the security at a harbour that China might use for military purposes. The base is currently in the Galle district and will be moved 125 km east along the southern coast of Sri Lanka to Hambantota.

TAC Security launches ESOF

India and USA-based cyber security solutions provider TAC Security has announced a new platform, ESOF (Enterprise Security on One Framework). It would provide organisations to manage their entire IT security and risk assessment needs in one single platform. According to the latest reports the cyber security market in India is projected to grow at a CAGR of 19% during 2018-2023.

U.S. postpones 2+2 dialogue with India

US has postponed its inaugural 2+2 dialogue with India, citing “unavoidable reasons”. The dialogue was to be held on July 6, Sushma Swaraj and Nirmala Sitharaman were to take part in the meeting with US secretary of state Michael Pompeo and secretary of defence James Mattis. The meeting was expected to focus on strengthening strategic, security, and defence cooperation.

Naval exercise RIMPAC to begin in Hawaii

The world’s largest biennial multilateral naval exercise Rim of the Pacific (RIMPAC) will begin on 27th June off cost Hawaii in the Western Pacific Ocean. Indian Naval Ship Sahyadri will participate in the 26th edition of RIMPAC exercise. India’s participation in the exercise provides a platform for increased interoperability and understanding of maritime security operations.

India-US 2+2 Dialogue

External Affairs Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman will hold talks with their American counterparts Mike Pompeo and James Mattis. The maiden India-US 2+2 Dialogue will be held on July 6, 2018. The key issues that would be discussed would include counterterrorism, cybersecurity, defence cooperation, and regional security.

‘No toilet, no bride’ resolution in Haryana

Haryana village – Godikan has passed ‘No toilet, no bride’resolution. The village apparently was inspired by the super hit Hindi movie starring Akshay Kumar – ‘Toilet-Ek Prem Katha’. The resolution is aimed at ensuring the security of their daughters in addition to hygiene. Godikan has already been declared an Outdoor Defecation Free (ODF) panchayat.

Mongolia to develop country’s 1st refinery

Mongolia to develop country’s first oil refinery at Stantsiin Hooloi in Altanshiree Soum with the help of a USD 1 billion loan from India. The home minister, Rajnath Singh is on a 3-day visit to Mongolia to strengthen India’s relations with Mongolia and security cooperation. Engineers India Ltd. will assist with construction of the refinery, which will boost Mongolia’s GDP by 10%.

Seychelles president on six-day trip to India

Seychelles president Danny Faure, who is on a 6-day visit to India will visit Gujarat, Goa and Uttarakhand. India will hand over a Dornier aircraft to Seychelles President even as project to jointly develop military infrastructure on Assumption Island was cancelled. The ministers would talk about cooperation between the 2 countries, in the fields of trade, defence and security.

Workshop on Cyber Security Framework 2018

A workshop on cyber security for Department of Defence was organised by Department Defence Production, MoD. It was inaugurated by Defence Minister Smt. Nirmala Sitharaman. The framework is in line with guidelines for organisations to target the area of cyber security and identify improvements in the area. Joint Secretary and Chief Information Security Officer of DDP is Dr Amit Sahai.

SEBI set to amend buyback regulations

17 : SEBI plans to revise the regulations for share buybacks wherein more clarity would be provided on various aspects, including on the requirement to make public announcements. SEBI has carried out a review of the current buyback norms in order to simplify the language and remove inconsistencies. A company can undertake buyback of shares out of its free reserves and securities premium account.

SEBI panel to study direct overseas listing

The Securities and Exchange Board of India (SEBI) has constituted an expert committee to examine the possibillity of allowing unlisted Indian companies to do a direct equity listing overseas. The expert committee will comprise 9 members. Currently, Indian companies can only use the depository receipts route to list on the overseas exchanges.

Trump & Kim Sign Agreement On Denuclearization

US has decided to provide security guarantees to North Korea, in exchange of Pyongyang’s firm and unwavering commitment to complete denuclearisation of the Korean Peninsula. This is according to the joint document which was signed by US President Donald Trump and North Korean leader Kim Jong Un. Both nations commit to establishing new relations in accordance with the desire of the people.

Platform to facilitate repo in corporate debt

NSE launched ‘Tri-Party Repo Market’ platform in its debt segment to facilitate repurchase of corporate debt securities. The platform is a kind of repo contract where a third entity, apart from the borrower & lender, called tri-party agent acts as an intermediary. It facilitates services like collateral selection, payment and settlement, custody & management during the life of transaction.

UNSC elects 5 members for two-year term

The United Nations General Assembly voted to elect Germany, Belgium, South Africa, the Dominican Republic and Indonesia for a two-year term in the Security Council starting on Jan. 1, 2019. The council is the only U.N. body that can make legally binding decisions and has the power to impose sanctions and authorize the use of force. The General Assembly elects five new members in a year.

Facial recognition system: Varanasi airport

Varanasi’s Lal Bahadur Shastri International Airport will become India’s first airport to have an automated smart facial recognition system at its entry, security and boarding points. The initiative, which is part of the DigiYatra scheme, will ensure quicker entry into airports by facilitating automated check-ins. It will be functional within the next 4 months as per Airport Director AK Rai.

FPI outflows hit 18-month high

Foreign investors pulled out ` 29,714 crore from the capital markets in May, making it the biggest outflow in 18 months, primarily due to a surge in global crude prices. This comes following an outflow of ` 15,561 crore from the capital markets (equity and debt) in April. Foreign portfolio investment (FPI) consists of securities and other financial assets passively held by foreign investors.

Nasscom to set up cyber security CoE

The Data Security Council of India (DSCI), an arm of the Nasscom, has signed an agreement with the Telangana government to set up the Centre of Excellence for cyber security. The CoE will accelerate Telangana’s cyber security momentum and make the State a hub for cyber security in the next 5 years. This CoE will help increase State’s cyber security preparedness.

3rd Home Affairs Dialogue between India, UK

The third Home Affairs’ Dialogue between India and UK was held in New Delhi. The dialogue covered a wide range of issues including cyber security, women safety, organized crime and terror financing. Detailed exchange of views took place between the two sides on Indian fugitives and economic offenders residing in the U.K.

Talks on bilateral social security agreement

India and China have agreed to start formal negotiations on a bilateral social security agreement. So far, India has signed social security agreements with 18 countries from different parts of the world. The bilateral social security agreements are aimed at protecting the interests of Indian professionals, skilled workers working abroad.

Pankaj Saran appointed Deputy NSA

India’s envoy to Russia Pankaj Saran has been appointed as the Deputy National Security Advisor. He served twice in the Prime Minister’s Office – First as Deputy Secretary during 1995 and 1999, and then as the Joint Secretary between 2007 and 2012. He had held various positions in India & abroad including country’s High Commissioner to Bangladesh.

Global health monitoring mechanism launched

The World Health Organization (WHO) and World Bank Group has launched a new mechanism that intends to strengthen global health security. The Global Preparedness Monitoring Board was created on the margins of the 71st Session of the World Health Assembly on 24th May. The Board’s Secretariat will be housed at WHO headquarters in Geneva, Switzerland.

RBI appoints Sudha as its first CFO

National Securities Depository Limited (NSDL) executive Sudha Balakrishnan has been appointed as the first chief financial officer (CFO) of the Reserve Bank of India (RBI). Balakrishnan, a chartered accountant, was until recently a vice-president at the NSDL, India’s first and largest depository. She will be the 12th executive director at RBI, and will serve a three-year term.

EC plans to discuss about unpublished roll

The Election Commission will soon examine the New Zealand model, which allows eligible people to vote even if their names are not on the printed roll for valid reasons. The concept of a ‘unpublished’ (confidential) roll will also be discussed. ‘Unpublished’ roll is for those who fear making their details available on the printed roll for security reasons.

BSE is first to get US SEC recognition

The BSE has received the recognition certificate of ‘Designated Offshore Securities Market’ (DOSM) from the United States Securities and Exchange Commission (SEC). This will help in the sale of securities to US investors through the BSE platform without registration of such securities with the US SEC. The BSE becomes the first bourse in India to receive the DOSM recognition .

Blockchain-based trade finance network

Infosys has formed a blockchain-based trade finance network with 7 private-sector banks, to increase security and efficiency in the banking sector. Blockchain allows all stages of transactions to be securely shared between network members, as opposed to each bank working independently. Lenders currently testing its trade finance network are ICICI, Axis and Yes Bank among others.

Railways to install ‘panic button’

16 : With a view to strengthen security of women passengers in trains, North Eastern Railway plans to deploy women police personnel on trains during night hours as well as install ‘panic buttons’ in coaches. Currently, women passengers have to depend on either on helpline numbers. Among the other measures proposed to ensure women safety are having a different colour on the women coaches.

Listed companies to disclose payment delays

SEBI proposed that listed companies have to disclose any delay or expected delay in payment related to their debt securities within 24 hours. The proposal comes against the backdrop of various instances regarding non-compliance with listing norms by issuers of non-convertible debt securities.The regulator has sought public comments till June 11 on the proposals.

Committee for securing airport cargo terminals

Govt has constituted a special committee to suggest ways for better-securing airport cargo terminals in the country against terror threats. It will chalk out an anti-sabotage & counter-terror plan that can be deployed at the un-guarded air cargo terminals. Committee will have representatives from Home Ministry, CISF, Bureau of Civil Aviation Security, IB & few other cargo handling agencies.

Joint EEZ surveillance of Maldives

Indian Naval ship Sumedha, a Naval Offshore Patrol Vessel has been deployed to undertake joint EEZ surveillance of Maldives. The ship would undertake an Operational Turnaround at Male during which it would interact & impart training to Maldives’ National Defence Forces personnel. Joint EEZ surveillance is an endeavor of Govt of India & Indian Navy to ensure safety & security of the vast EEZ.

New monetary limits for public sector banks

Monetary threshold for public sector banks to report frauds to departments of CBI for a probe has been revised.Frauds of min. Rs 3 cr & to Rs 25 cr have to be reported to either CBIs Anti-Corruption Branch or to Economic Offences Wing.According to RBI, cases of frauds involving more than Rs 25 cr & up to Rs 50 cr should be given to CBIs Banking Security & Fraud Cell.

Easier credit norms for small farmers

The government has streamlined lending norms in schemes such as the Kisan Credit Card (KCC) to boost institutional credit flow to small and marginal farmers. Under revised guidelines, standard security requirements, such as hypothecation of crops, now do not apply to loans of up to Rs1 lakh. Under KCC, small farmers can avail of a “flexible limit” of between Rs10,000 and Rs50,000.

India, Guatemala to support each other

India and Guatemala agreed to support each other’s candidature for the non-permanent membership of the United Nations Security Council (UNSC). Guatemala will support India’s candidature for UNSC membership for 2021-22, while New Delhi will do so in 2031-32 for Guatemala. This is the first ever visit by an Indian Vice President to the Republic of Guatemala.

Israel pulls out of race for seat on UNSC

Israel has withdrew from a race against Germany & Belgium for 2 seats on United Nations Security Council in 2019-20. Israel was competing with Germany & Belgium for one of the two seats allocated to Western European & Others Group. Security Council is made up of 5 permanent members – Britain, China, France, Russia & US while 10 other seats are filled by elected members that serve 2 yr stints

First meet of Defence Planning Committee

The new Defence Planning Committee (DPC) met for the first time under the chairmanship of National Security Advisor Ajit Doval. The DPC will draft National Security Strategy (NSS) and other doctrines as well as ushering reforms in the country’s higher defence management and planning. The Chief of Integrated Staff in the Ministry of Defence will be the member secretary of DPC.

Kotak launches Free Intraday Trading facility

Kotak Securities has unveiled ‘Free Intraday Trading’ facility, allowing investors to trade intra-day without paying brokerage charges. Investors can do intra-day trades across cash, future and options segments at an annual subscription of Rs. 999. Intra-day trading refers to trades in which investors buy and sell the shares within the same trading session.

Online system for grant of security clearance

An online system for grant of security clearance to international conferences, seminars and workshops organised in India was launched by the Home Ministry. The online portal “https://conference.mha.gov.in” was launched by Union Home Secretary Rajiv Gauba. Obtaining clearances for organising a conference, issue of conference visa to foreign delegates was an offline procedure till now.

NSE launched e-Gsec platform

The National Stock Exchange announced the launch of its e-Gsec platform.The platform will allow retail investors to invest in government securities and hold them in existing demat accounts. The government issues securities to borrow money from the market. The Union budget 2016-17 had announced that RBI will facilitate retail participation in the primary markets through stock exchanges.

‘Sagar Kavach’ began in Kerala

A two-day coastal security exercise ‘Sagar Kavach’ began on 24th April to strengthen and assess the loopholes in the coastal security mechanism along Kerala shores.The Coast Guard, the Navy, Coastal Police and Marine Enforcement wing are participating in the exercise. 3 ships of the navy, 10 of Coastguard, four fishing boats, besides 20 coastal police stations are taking part in the drill.

Secure India Conclave underway in New Delhi

The two-day Secure India Conclave got underway in New Delhi on 24th April.The conclave is being organised by Global Counter Terrorism keeping in view Prime Minister Narendra Modi’s vision of New India : Secure India 2018. The event presents a unique encapsulation of prevalent issues in India’s internal security.

Cyber Security Operations Centre in AP

Tech Mahindra has set up the country’s first “Cyber Security Operations Centre” (APCSOC) in Vijayawada, in collaboration with the Andhra Pradesh government.The APCSOC will leverage Tech Mahindra’s global expertise in cyber security and risk management. The Cyber Security Operations Centre is equipped with traditional SOC and predictive threat analytics capabilities.

Repo in corporate debt securities

Bombay stock exchange has received approval from RBI and Sebi to launch repo in corporate debt securities. Corporate bond repo is where a firm or a bank pledges corporate bonds with another company or lender to garner funds. The corporate repo debt will be launched in 2 models – Basket repo with settlement guarantee and Special repo without settlement guarantee.

AP, Mastercard to host cyber security summit

The Andhra Pradesh Government and Mastercard are together holding AP Cyber Security Summit. The summit is being conducted here as a part of the MoU signed between the State Government and Mastercard to implement best practices in cyber security. The partnership would help the state government to enable more robust digital payments solutions for the government’s Fintech Valley initiative.

Iraq resumes payments of Gulf War reparations

Iraq has resumed paying Kuwait compensation for the destruction of Kuwaiti oil fields and facilities during the 1990-91 Gulf War with the disbursal of $90 million.The payment had been suspended since October 2014 because of security and budgetary problems that the Iraqi government faced in its fight against Islamic State. Iraq still has to pay a remaining amount of nearly $4.5 billion.

Key Accord Against Cyber Attacks

Top 34 global technology & securities firms, led by Microsoft, have signed a “Cybersecurity Tech Accord” to defend people from malicious attacks by cybercriminals & nation-states.The accord is a public commitment among 34 global companies to improve the security, stability and resilience of cyberspace. The economic losses due to cyber attacks are expected to reach $8 trillion by 2022.

Committee for higher defence management

To improve higher defence management, govt has constituted a committee headed by NSA Ajit Doval.Committee will prepare a draft national security strategy, work on defence diplomacy issues & improving defence manufacturing in India. It will have Chairman of Chiefs of Staff Committee, 3 service chiefs, secretaries of ministries of defence, expenditure & foreign affairs as its members.

India, Nepal for strong relations

India and Nepal have agreed to further strengthen bilateral relations in key areas of border security, connectivity, trade and agriculture.The two countries have agreed for a rail line that will connect the border city of Raxaul in India to Kathmandu in Nepal. The agreements were reached during talks between Prime Minister Narendra Modi and visiting Nepalese Prime Minister KP Sharma Oli.

EC to set up Pink polling booths

5 : The Election Commission (EC) will set up Sakhi/Pink polling booths for the first time in the Karnataka assembly elections.These pink polling booths will have completely female staff including presiding officers, polling officers, micro observers and security personnel.The pink booths are aimed at empowering women and increasing their participation in the poll process.

India-Korea Coast Guards to hold exercise

The Indian Coast Guard and the Korea Coast Guard will hold a joint exercise off Chennai on April 5.The joint exercise, named Sahyog – Hyeoblyeog 2018 is part of a proposed establishment of a MoU between the two Coast Guards to improve maritime security in the Indian Ocean Region. The exercise will see Indian Coast Guard ship Shaurya, and a few interceptor boats taking part in it.

RBI changes methodology for bond valuation

To prevent the possibility of manipulation in the prices of securities, especially government securities, the RBI has changed the methodology used by debt market players for their valuation.Security/bond valuation will be based on the weighted average price of the last half-an-hour of trading. The methodology as to how the bonds are valued is crucial for mark-to-market purposes.

SEBI doubles investment limit of angel funds

Securities and Exchange Board of India (SEBI) decided to double the investment limit by angel funds in venture capital undertakings to ?10 crore.The SEBI board has approved amendments to Alternative Investment Funds (AIF) regulations with respect to ‘Angel Funds.’ The regulator would raise the maximum period of accepting funds from an angel investor to five years, from three years.

Govt to declare 2018 as Year of Millets

The government has decided to declare 2018 as ‘National Year of Millets’. This has been done to boost the cultivation of millets like ragi and jowar on a mission mode to achieve nutritional security. Millet cultivation has declined due to change in dietary habits and unavailability of millets.

7th India-Egypt Joint Commission Meeting

The 7th India-Egypt Joint Commission Meeting was held in New Delhi, on 23rd March 2018. The meeting was led by Indian External Affairs Minister Sushma Swaraj and Egyptian Foreign Minister Sameh Shoukry. Both the sides reviewed the progress in the areas of political, trade & investment, S&T, cybersecurity, capacity building, security, space and culture.

Bolton appointed as US Security Adviser

President Donald Trump has appointed Bush-era defence hawk and former United Nations ambassador, John Bolton as US National Security Adviser. He became Mr Trump‘s third National Security Chief in 14 months. Bolton will replace present US National Security Adviser, HR McMaster.

Coast Guard commissions interceptor boat

The Coast Guard commissioned an interceptor boat, C-437 at Porbandar to strengthen the security umbrella of the Indian West Coast. The boat is provided with advanced navigational and communication equipment which gives it the capability to respond to any maritime situation. The boat would be based at Jakhau under the administrative and operational control of the Commander Coast Guard Region.

Vladimir Putin wins 4th term as President

Vladimir Putin will lead Russia for another six years, after securing victory in the presidential elections held on 18th March. Putin, who has ruled Russia for almost two decades, won more than 75% of the vote. He was well ahead of his nearest rival Communist Party candidate Pavel Grudinin.

India announces USD 100 mn LoC for Mauritius

India has offered a 100 million dollar Line of Credit (LoC)to Mauritius for defence procurement to help its security capacity. India also agreed to sell a Multi-Purpose Offshore Petrol Vessel to the island nation. The other agreements/MoUs signed between the two sides include a MoU on cooperation between Nalanda University in Bihar and Mauritius.

Crime-free zone along Indo-B?desh border

The Border Security Force (BSF) and the Border Guards Bangladesh (BGB) declared an 8.3 km stretch along the border a =crime free zone.‘ The stretch falls between the border outpost of Gunarmath and Kalyani of the BSF and Putkhali and Daulatpur of the BGB. Both the forces will work together to ensure that no crime or anti-social activity occurs along this stretch.

Best practices in payment security

HDFC Bank has once again been recognized with the Champion Security Award at the 14th Visa Asia Pacific Security Summit. For the second time in a row, the bank has won the award in the India and South Asia category. The Award is a mark of excellence reflecting leadership in risk management and payment security performance.

Odisha, Bengal to hold joint exercise

The governments of Odisha and neighbouring West Bengal will soon organize a joint security exercise named as ‘Sagar Kavach’. It is to further tighten the existing coastal security mechanism along the 630 km long coastline. Sagar Kavach security exercise is a realistic drill to check the efficacy of the security parameters and preparedness of various security forces.