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Operation Samudra Setu

1/6/2020

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Indian Naval Ship Jalashwa departed Colombo, Sri Lanka to Tuticorin in Tamilnadu. The ship, on her third trip as part of Indian Navy's Operation Samudra Setu under the aegis of Mission Vande Bharat launched by the Government of India; has been engaged in bringing Indian nationals home from foreign shores by the sea route.
​Embarkation of Indian nationals was facilitated by the Indian Mission in Sri Lanka. Personnel were embarked onboard after carrying out requisite medical screening. COVID related safety protocols were also strictly adhered to during the sea-passage.
The evacuees were received by local authorities at Tuticorin and arrangements were in place for speedy disembarkation, health screening, immigration and transportation of the evacuees.
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India commissions Indian Coast Guard Ship ‘Sachet’ and two interceptor boats C-450 and C-451

15/5/2020

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Raksha Mantri Shri Rajnath Singh commissioned Indian Coast Guard Ship (ICGS) Sachet and two interceptor boats (IBs) C-450 and C-451 in Goa via video conference. The ICGS Sachet, the first in the series of five offshore patrol vessels (OPVs) has been designed & built indigenously by Goa Shipyard Limited (GSL) and is fitted with state-of-the-art navigation and communication equipment.
As the fourth largest Coast Guard in the world, it has established itself as a reliable force. It not only protects our coastline and coastal community, but also protects economic activities, and maritime environment in the Exclusive Economic Zone (EEZ).”The ships, on joining the Coast Guard fleet, will be deployed extensively for Exclusive Economic Zone (EEZ) surveillance, coastal security and other duties as enshrined in the Coast Guard charter of duties, to safeguard the maritime interests of the Nation.  
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Operation “Samudra Setu”

5/5/2020

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Indian Navy has launched Operation “Samudra Setu” - meaning “Sea Bridge”, as a part of national effort to repatriate Indian citizens from overseas. Indian Naval Ships Jalashwa and Magar are presently enroute to the port of Malè, Republic of Maldives to commence evacuation operations from 08 May 2020 as part of Phase-1.
  • The Government has been closely monitoring the situation with respect to effect of COVID-19 pandemic on our citizens abroad. The Indian Navy has been directed to make suitable preparations for their evacuation by sea.
  • The Indian Mission in Republic of Maldives is preparing a list of Indian nationals to be evacuated by Naval ships and will facilitate their embarkation after requisite medical screening. 
  • The evacuated personnel will be disembarked at Kochi, Kerala and entrusted to the care of State authorities. This operation is being progressed in close coordination with Ministries of Defence, External Affairs, Home Affairs, Health and various other agencies of the Government of India and State governments.
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Cabinet approves Mega Consolidation in Public Sector Banks (PSBs)

4/3/2020

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The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the mega consolidation of ten PSBs into four which include the –
(a)  Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank
(b)  Amalgamation of Syndicate Bank into Canara Bank
(c)  Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India
(d)  Amalgamation of Allahabad Bank into Indian Bank

Advantage of 
mega consolidation of ten PSBs
  • The amalgamation would be effective from 1.4.2020 and would result in creation of seven large PSBs with scale and national reach with each amalgamated entity having a business of over Rupees Eight lakh crore.
  • The Mega consolidation would help create banks with scale comparable to global banks and capable of competing effectively in India and globally.
  • Greater scale and synergy through consolidation would lead to cost benefits which should enable the PSBs enhance their competitiveness and positively impact the Indian banking system.
  • The adoption of best practices across amalgamating entities would enable the banks improve their cost efficiency and risk management, and also boost the goal of financial inclusion through wider reach.
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