US to sell India 2 missile defence systems to protect President, PM planes

Agencies
February 7, 2019

Washington, Feb 7: The US has agreed to sell two advanced missile defence systems to India for two Boeing-777 Head-of-State aircraft for an estimated cost of $ 190 million, a decision that will enhance the security of the planes flying the president and the prime minister.

According to the Pentagon, the sale will support the foreign policy and national security of the US by helping to strengthen the US-Indian strategic relationship.

The Trump administration approved the purchase of the two systems known as Large Aircraft Infrared Countermeasures (LAIRCM) and Self-Protection Suites (SPS) for an estimated cost of $ 190 million, the US Defence Security Cooperation Agency (DSCA) said in a notification to the Congress on Wednesday.

The US decision came after the Indian Government recently made the request for LAIRCM and SPS, given the high-level threat to the prime minister and the president.

The defence systems, which would bring the security of ‘Air India One’ at par with that of ‘Air Force One’ used by the American President, would be installed in two Boeing 777 Head-of-State aircraft, the Pentagon said.

The Indian Government plans to buy two Boeing 777 ERs from the national carrier Air India for this specific purpose. Unlike in the past, the two aircraft would not be used for commercial purposes by Air India.

The purpose of the LAIRCM programme is to protect large aircraft from man-portable missiles. Once installed, the LAIRCM system increases crew-warning time, decreases false alarm rates and automatically counters advanced intermediate range missile systems, according to the Federation of American Scientists.

The missile warning subsystem will use multiple sensors to provide full spatial coverage.

The counter-measures subsystem will use lasers mounted in pointer-tracker turret assemblies. It also automatically counters advanced intermediate range missile systems with no action required by the crew.

The pilot will simply be informed that a threat missile was detected and jammed.

Observing that it will improve India’s capability to deter regional threats, the Congressional notification said the SPS will facilitate a more robust capability into areas of increased missile threats.

“India will have no problem absorbing and using this system,” the DSCA statement said.

The department said the proposed sale will not “alter the basic military balance in the region”.

The prime contractor will be the Boeing Company. “The purchaser typically requests offsets. Any offset agreement will be defined in negotiations between the purchaser and the contractor,” the DSCA statement said.

Implementation of this proposed sale will require the assignment of one additional US contractor representative to India, it said.

According to the notification, India requested to buy two SPS consisting of AN/AAQ 24(V)N Large Aircraft Infrared Countermeasures (LAIRCM), ALQ-211(V)8 Advanced Integrated Defensive Electronic Warfare Suite (AIDEWS) and AN/ALE-47 Counter-Measures Dispensing System (CMDS) to protect two (2) Boeing-777 Head-of-State aircraft.

“This potential sale would include twelve Guardian Laser Transmitter Assemblies AN/AAQ-24 (V)N (6 installed and 6 spares), eight (8) LAIRCM System Processor Replacements (LSPR) AN/AAQ-24 (V)N (2 installed and 6 spares); twenty-three (23) Missile Warning Sensors (MWS) for AN/AAQ-24 (V)N (12 installed and 11 spares), five (5) AN/ALE-47 Counter-Measures Dispensing System (CMDS) (2 installed and 3 spares),” the notification said.

Also included in this sale are Advanced Integrated Defensive Electronic Warfare Suites (AIDEWS), LAIRCM CIURs, SCAs, HCCs, and UDM cards, initial spares, consumables, repair and return support and support equipment.

The US is the second-largest arms supplier to India. It has already recognised India as a “major defence partner”, a status that which commits the US to facilitate technology sharing with India.

In 2018, the US granted India Strategic Trade Authorisation-1 (STA-1) status. India is the only South Asian country to get STA1 status and third Asian country after Japan and South Korea. The status eases India’s defence procurement from the US. Last year India and the US signed the COMCASA (Communications Compatibility and Security Agreement) to facilitate interoperability between the two militaries and sale of high end technology.

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Agencies
February 11,2020

New Delhi, Feb 11: People of Delhi have explained the true meaning of nationalism through their mandate, AAP's prominent face Manish Sisodia said as he clinched victory on the Patparganj seat.

Sisodia, who retained his seat for the third time, said the BJP indulged in "politics of hate", but people refused to be divided.

"I am happy to have won the Patparganj seat again. The BJP indulged in politics of hate, but I thank the people of Patparganj. Today, Delhi's people have chosen a government which works for them and explained the true meaning of nationalism through their mandate," he told reporters.

Sisodia, who was the Deputy Chief Minister and led the government's education reforms agenda, defeated BJP's Ravinder Singh Negi by a margin of over 3,500 votes.

The initial trends saw a seesaw battle between Sisodia and Negi.

In 2013, Sisodia had won by a margin of 11,000 votes and in 2015 by over 28,000 votes.

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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News Network
March 28,2020

Mar 28: A 69-year-old patient, hailing from Chullikal in Ernakulam District, passed away at Kalamasserry Medical College at 8:00am.

The patient had come from Dubai recently and was quarantined.

He arrived in Kerala on March 16 and was tested positive for Coronavirus on March 22, Medical College nodal officer A Fathahudeen said.

He was undergoing treatment for heart ailment and blood pressure. He had earlier undergone a bypass surgery.

Forty nine passengers in the flight he came are under quarantine.

A close relative and the driver who picked him up from the airport are coronavirus positive.

Since the deceased had no contact with any others in the state since his arrival, his route map was not processed.

Kerala reported 39 fresh cases of coronavirus on Friday, taking the total number of people under treatment to 164. The total number of confirmed cases from the state is 176, but, of this, 12 had recovered.

Of the 39 cases, 34 are from the worst affected northernmost district of Kasaragod, two from Kannur and one each from Thrissur, Kozhikode and Kollam.

With a positive case being reported from Kollam, all 14 districts in the state have been affected by the pandemic.

The worst affected Kasaragod has 76 positive cases, the highest and most of the affected are Non Resident Keralites from the Gulf.

A total of 1,10,299 people are under surveillence and 616 are in isolation wards of various hospitals.

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