6. Lok Sabha passes Indian Institutes of Information Technology (PPP) Bill, 2017.
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The Lok Sabha passed the Indian Institute of Information Technology Public Private Partnership (IIIT-PPP) Bill, 2017 to allow 15 IIITs established on a PPP model to grant degrees and get statutory status.
The bill also seeks to grant institute of national importance status to IIITs on the lines of the Indian Institutes of Technology (IITs) and National Institutes of Technology (NITs).
The Union Government had initiated the opening of 20 IIITs with private partnership of which 15 are already operational. These engineering and tech schools were established at a cost of Rs. 128 crore each. The centre had contributed 50% of the amount, states 35% and private partners remaining 15% (i.e. 50:35:15 ratio). However, these institutes were not been eligible to grant degrees.
Definition of PPP:
The bill define PPP as a partnership under a scheme of the centre for establishment of institutes through collaboration between the centre, the state government and industry partners such as individuals, trusts, companies or societies.
Establishment of an institute:
State government will identify at least one industry partner for collaboration to establish an institute and submit a proposal to the centre. The centre will examine the proposal based on certain criterias. The centre may reject or accept the proposal with modifications. Upon such acceptance, the centre will enter into a MoU with the concerned state government and industry partners to establish proposed institute.
Role of the industry partner:
It will have powers for co-creating programs as per the requirements of the industry; actively participating in the governance of the institutes; and funding and mentoring startups in the institutions.
Board of Governors:
It will be the principal policy making and executive body of the institute. The Board of each institute will comprise upto 15 members including Chairman nominated on the recommendation of the centre.
Senate:
It will be the principal academic body of each institute. It will specify the criteria and procedure for admission to courses of study; recommend to the Board, creation of teaching and other academic posts; and specify academic content of programmes and courses of study.
Coordination Forum:
It will deliberate on matters of common interest to all the institutes. It will advise the centre to include or exclude an institution from the schedule of the Bill.
Funds of the institute:
Each institute will maintain a fund consisting of funds from the government and other sources including grants, fees and donations. Further, each institute will create corpus fund of the net income of the institute and donations for its long term sustainability.
7. Indian Army inks MoU with DRDO to raise MRSAM defence system regiment.
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The Indian Army has signed MoU with Defence Research and Development Organisation (DRDO) to raise one regiment of the advanced Medium Range Surface to Air Missiles (MRSAM) defence system.
The Indian Army is planning to have a total of five regiments of MRSAM defence system, which will be deployed opposite to China and Pakistan. Each regiment consists of four launchers with three missiles each. So five regiments will have total 60 missiles. Earlier the Cabinet Committee on Security (CCS) headed by PM Narendra Modi had approved proposal for procuring MRSAM system for the army.
The MRSAM is an advanced, all weather, mobile, land-based air defence system. It can shoot down enemy ballistic missiles, aircraft, helicopters, drones, surveillance aircraft and AWACS aircraft. It is capable of engaging multiple aerial targets at ranges of more than 50 km.
MRSAM is a land-based variant of the long-range surface-to-air missile (LRSAM) or Barak-8 naval air defence system, which is designed to operate from naval vessels. Each MRSAM system comprises a command-and-control system, mobile launchers, tracking radar and missiles.
The system will be jointly developed by Israel Aerospace Industries (IAI) and DRDO with the involvement of DPSUs and private sectors. It has majority indigenous content, giving boost to the Make-in-India initiative.
n July 2016, the IAI and DRDO successfully had conducted three flight tests of the MRSAM at the integrated test range off the Odisha Coast. The missile had successfully intercepted moving aerial targets in all three tests.
8. SEBI inks pact with ESMA for information exchange on CCPs
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Markets regulator Securities and Exchange Board of India (SEBI) has entered into a Memorandum of Understanding (MoU) with the European Securities and Markets Authority (ESMA).
The MoU was signed for exchange of information concerning Central Counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). CCPs are entities that help facilitate clearing and settlement activities.
The MoU establishes cooperation arrangements, including exchange of information regarding CCPs which are established and authorised or recognised in India by SEBI and which have applied for EU recognition under EMIR.
EMIR provides for signing of a cooperation arrangement between ESMA and relevant non-EU authorities, whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission. Signing of MoU is one of the conditions for recognition of third country CCPs by ESMA under EMIR.
9. India, Japan civil nuclear deal comes into force.
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The landmark India-Japan civil nuclear agreement came into force. In this regard, Foreign Secretary S. Jaishankar exchanged the diplomatic notes with the Japanese envoy to India to formalise the completion of the process.
The deal would enable Japan to export nuclear power plant technology as well as provide finance for nuclear power plants in India. It will also assist India in nuclear waste management and could undertake joint manufacture of nuclear power plant components under the Make in India initiative.
The India-Japan Agreement for Cooperation in the Peaceful Uses of Nuclear Energy was signed in Tokyo during the visit of Prime Minister Narendra Modi to Japan in November 2016. Subsequently, the Japanese government also got approval from the Diet (Japanese Parliament) for the nuclear deal with India. India is the only non-Nuclear Non-proliferation Treaty (NPT) signatory country with which Japan has entered into a civil nuclear deal, giving recognition for India’s impeccable non-proliferation record. Till now, India has also signed civil nuclear deal with 10 other countries viz. Russia, United States, France, South Korea, Mongolia, Namibia, Argentina, Canada, Kazakhstan and Australia.