PIB - 26 July 2017

edited July 2017 in PIB

Achievements in Space Sector

1. Operationalisation of GSLV-MkII with home-grown Cryogenic Upper Stage (CUS) with indigenous capability for launching 2-tonne class satellites.
2. Launch of 14 flights of PSLV, which includes launch of 104 Satellites in a single PSLV (PSLV-C37) mission – Maximum satellites launched in a single launch mission till date.
3. Realisation of 7-satellite NavIC (Navigation – Indian Constellation) to provide Position, Navigation and Timing Services, with five satellites launched during the last three years.
4. INSAT-3D & 3DR together are providing meteorological data every 15 minutes for enabling weather forecasting. Ocean surface wind vector data from SCATSAT-1 are being used operationally by global user community.
5. Placing a unique multi-wavelength observatory ‘Astrosat’ in orbit.
6. Mars Orbiter Mission (MOM) completed 1000 days in the orbit.

Cabinet approves revision of guidelines of Sovereign Gold Bonds Scheme

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for revision of guidelines of Sovereign Gold Bonds (SGB) Scheme with a view to achieve its intended objectives.
Following specific changes in the scheme have been approved:
i. The investment limit per fiscal year has been increased to 4 kg for individuals, 4 Kg for Hindu Undivided Family (HUF) and 20 Kg for Trusts and similar entities notified by the Government from time to time.
ii. The ceiling will be counted on Financial year basis and will include the SGBs purchased during the trading in the secondary market.
iii. The ceiling on investment will not include the holdings as collateral by Banks and Financial institutions.
iv. SGBs will be available 'on tap’. Based on the consultation with NSE, BSE, Banks and Department of Post, features of product to emulate 'On Tap' sale would be finalised by Ministry of Finance.
v. To improve liquidity and tradability of SGBs, appropriate market making initiatives will be devised. Market makers, could be commercial banks or any other public sector entity, such as MMTC or any other entity as decided by Gol.
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