Leading Institutions:

• IIT Bombay
• Physical Research Laboratory (PRL)
• Tata Institute of Fundamental Research (TIFR)
• Raman Research Institute (RRI)

Project Goals: The Daksha project aims to advance our understanding of high-energy astrophysical phenomena through the deployment of two high-energy space telescopes. These telescopes will be equipped with advanced sensors capable of detecting a broad range of energy bands.

Objectives:

1. Detect and Study Gravitational Wave Sources:
   • Identify, localize, and analyze high-energy counterparts to gravitational wave sources. This includes understanding the emissions from events such as neutron star mergers.
2. Gamma Ray Bursts (GRBs):
   • Achieve high-sensitivity detection and detailed studies of Gamma Ray Bursts. GRBs are intense, short-lived bursts of gamma-ray radiation, representing the most energetic form of electromagnetic light.

Significance of the Project:

1. Enhanced Coverage:
   • The two telescopes will be positioned on opposite sides of Earth, providing a more comprehensive observation coverage compared to current missions.
2. Source Localization:
   • Improve the ability to localize sources of intense gravitational waves, such as those resulting from neutron star mergers.
3. Primordial Black Holes (PBHs):
   • Explore the mass window of Primordial Black Holes. PBHs are hypothesized to have formed in the early universe, and their study could offer insights into the universe's infancy.

Additional Notes:

• Neutron Stars: These are remnants of massive stars that have exhausted their nuclear fuel and undergone collapse, leading to extremely dense objects.
• Primordial Black Holes (PBHs): These are theoretical black holes that could have formed due to density fluctuations in the early universe, potentially offering clues about conditions shortly after the Big Bang.

The Cabinet Committee on Security (CCS) is a key body in the Indian government responsible for making critical decisions on matters related to national security and defense. Here's a concise overview based on your details:

About the Cabinet Committee on Security (CCS)

• Headed by: Prime Minister Narendra Modi
• Members:
  • Union Ministers of Home Affairs
  • Defence
  • Finance
  • Foreign Affairs
• Attendees:
  • National Security Adviser (NSA)
  • Cabinet Secretary
  • Defence Secretary

The Cabinet Committee on Security (CCS) in India plays a crucial role in addressing a range of security-related matters and defense issues.

1. Defense and Atomic Energy: The CCS oversees all defense-related issues and matters pertaining to atomic energy. This includes formulating and implementing policies related to national defense and the use of atomic energy for strategic purposes.
2. Defense Policy and Expenditure: The CCS is responsible for making decisions on defense policy, including approving defense acquisitions, budget allocations, and modernization plans for the armed forces. For instance, in February 2024, the CCS approved the acquisition of over 200 BrahMos extended-range supersonic cruise missiles for deployment on warships, demonstrating its role in strategic procurement and defense enhancement.
3. National Security Policy: The committee addresses issues related to national security, including law and order, economic and political stability, and internal security matters, such as manpower requirements for maintaining security.
4. Counter-Terrorism and Intelligence Coordination: The CCS ensures effective coordination among various intelligence agencies to combat terrorism. This involves streamlining efforts and resources to address and prevent terrorist activities.
5. International Relations: The CCS handles policy matters related to foreign affairs that impact internal or external security. This includes negotiating and managing security-related agreements with other countries.
6. Capital Expenditure: The CCS oversees cases involving capital expenditure exceeding 1,000 crore rupees related to the Department of Defence Production and the Department of Defence Research and Development. This ensures that large-scale investments in defense production and research are scrutinized and approved.

Overall, the CCS is central to shaping and executing India’s security and defense strategies, coordinating efforts across various domains to maintain national security and strengthen defense capabilities.

Project Nexus is an ambitious international initiative aimed at revolutionizing cross-border retail payments by integrating domestic Instant Payment Systems (IPS).

What is Project Nexus?

Project Nexus is a multilateral initiative designed to enable instantaneous cross-border retail payments by linking domestic IPS across different countries. The initiative is spearheaded by the Innovation Hub of the Bank for International Settlements (BIS), which is based in Basel, Switzerland, and owned by 63 central banks, including the Reserve Bank of India (RBI).

Key Features

1. Instant Payment Systems (IPS):
   • Definition: An IPS is an electronic payment system that facilitates rapid inter-bank fund transfers, typically completing transactions and sending confirmations within a minute or less. Examples include India’s Unified Payments Interface (UPI).
   • Purpose: IPS allows for real-time fund transfers, enhancing the efficiency and speed of financial transactions.
2. Objective:
   • Cross-Border Integration: Nexus aims to link the IPS of multiple countries, starting with four ASEAN nations (Malaysia, Philippines, Singapore, and Thailand) and India, creating a streamlined, cross-border payment system.
   • Standardization: By connecting these systems through a unified platform, Nexus simplifies the process of integrating new IPS connections, reducing the need for custom connections between each country’s systems.
3. Expected Launch: The system is planned to go live by 2026.

Benefits of Project Nexus

1. Simplification:
   • Reduced Complexity: By using Nexus, the need for multiple, custom-built connections between different national IPS is eliminated.
   • Lower Costs: Standardizing connections and processes reduces the costs associated with cross-border payments.
2. Speed:
   • Faster Transactions: Payments can be processed in real-time, significantly speeding up the transaction times compared to traditional methods.
3. Transparency and Accessibility:
   • Improved Transparency: The standardized system ensures that transactions are more transparent, with clear tracking and confirmation processes.
   • Greater Accessibility: The initiative supports a broader range of payment service providers, including those with low-cost solutions, enhancing financial inclusion.
4. Scalability:
   • Low-Cost Rail: Nexus offers a scalable infrastructure that can accommodate an expanding number of payment service providers and countries.
5. Interoperability:
   • Harmonization: By fostering standardization across diverse systems, Nexus bridges gaps in interoperability and ensures smoother cross-border transactions.

Strategic Impact

• Alignment with G20 Goals: Project Nexus supports the G20's targets of making cross-border payments cheaper, faster, more transparent, and accessible.
• Innovation and Efficiency: The project represents a significant step towards modernizing and enhancing the efficiency of international financial transactions.

Project Nexus is set to transform how cross-border retail payments are conducted, making them quicker, more cost-effective, and more transparent by leveraging the latest in payment system technology and international cooperation.