Here are Back2Basics collections from today’s news items
B2B #1: From news – SEBI panel to study option of direct overseas listings
Global Depository Receipts
- Indian companies are allowed to raise equity capital in the international markets through the issue of GDR.
- GDR are designated in USD / Euros or any other foreign currency.
- The proceeds of GDR can be utilized for various purposes.
American Depository Receipts
- These are like shares issued to US retail and institutional investors and are listed in NASADAQ/NYSE
- They are entitled like share to bonus, stock spilt and dividend.
- ADR route is taken as non-USA companies are NOT allowed to list on US stock exchanges by issuing shares.
B2B #2: From news – [pib] Ten new Swachh Iconic Places launched under Swachh Bharat Mission
Swachh Iconic Places (SIP)
- The project envisioned by the Prime Minister is being coordinated by Ministry of Drinking Water and Sanitation with the support of State governments and local administration.
- The consultation is in process for finalising the PSUs/corporates for extending support to new sites as CSR partners.
- These new sites have joined the 20 iconic places under Phase I & II where special Sanitation work is already underway.
- Launched in 2016, the Phase I iconic places are: Ajmer Sharif Dargah, CST Mumbai ,Golden Temple, Kamakhya Temple, Maikarnika Ghat, Meenakshi Temple, Shri Mata Vaishno Devi, Shree Jagannath Temple, The Taj Mahal and Tirupati Temple.
- Phase II of Swachh Iconic Places was launched in Nov 2017, and included Gangotri, Yamunotri, Mahakaleshwar Temple, Charminar, Convent and Church of St. Francis of Assissi, Kalady, Gommateswara, BaidyanathDham, Gaya Tirth and Somnath temple.
- SIP is a collaborative project with three other central Ministries: Ministry of Housing and Urban Affairs, M/o Culture, and M/o Tourism.
- It also involves local administrations in the concerned States and Public Sector and Private Companies as sponsoring partners.
Here’s a Factoid to brush up your concepts
Name : USHUS-II submarine sonar
Defence Forces : Navy
Module Type : Tech Misc.
Brief Intro : 1.Sonars are the eyes and ears of a submarine under water. DRDO has developed the State-of-the-Art submarine sonar suite, USHUS-II, a highly evolved compendium of multiple sensors. 2.The constituent sonars in the suite include passive sonar, active sonar, intercept sonar, obstacle avoidance sonar and underwater telephony.