Space startup Pixxel wins defence ministry grant to build satellites for Air Force (GS Paper 3, Science and Technology)
Why in news?
- Bengaluru-based space startup Pixxel has secured a multi-crore rupee grant from the Innovations for Defence Excellence (iDEX) under the Ministry of Defence to manufacture miniaturised multi-payload satellites for the Indian Air Force (IAF).
- This marks Pixxel's entry into the defence sector.
Key Highlights:
- The grant will enable Pixxel to develop small satellites weighing up to 150 kgs. These satellites will be designed for electro-optical, infrared, synthetic aperture radar, and hyperspectral purposes.
- The grant is part of the SPARKS initiative, which falls under Mission DefSpace, launched by Prime Minister Narendra Modi last year.
Mission DefSpace
- Mission DefSpace was launched with 75 Defence Space challenges which are classified into five categories: launch system,
- satellite system,
- communication and payload system,
- ground system, and
- software system.
About Pixxel:
- Pixxel has successfully launched commercial hyperspectral imaging satellites that provide earth-imaging services to customers, including the US' National Reconnaissance Office.
- The space data company was founded in 2019 by Awais Ahmed and Kshitij Khandelwal.
White Label ATMs (WLAs) to drive ATM penetration in India with a greater focus on Tier III to VI centres
(GS Paper 3, Economy)
Why in news?
- The Reserve Bank of India (RBI) has apprised that in order to drive ATM penetration in the country with a greater focus on Tier III to VI centres, non-bank companies have been permitted to set up, own and operate White Label ATMs (WLAs) in the country.
 to drive ATM.png)
WLAs:
- The WLAs provide banking services to the customers of banks in India, based on the cards (debit/credit/prepaid) issued by banks.
- In addition to dispensing cash, WLAs may offer many other services / facilities which inter-alia include:
- Account Information
- Cash Deposit
- Regular Bill Payment
- Mini / Short Statement Generation
- PIN Change
- Request for Cheque Book
The steps taken for increasing presence of WLAs:
- RBI in December 30, 2016, has allowed White Label ATM Operators (WLAOs) to source cash from retail outlets to address the cash sourcing constraints.
- To further give impetus to WLA deployment and to encourage more non-bank players to enter ATMs industry, RBI, in 2019, have permitted WLAOs to
- buy wholesale cash, above a threshold directly from the Reserve Bank (Issue Offices) and Currency Chests,
- source cash from any scheduled bank, including Cooperative Banks and Regional Rural Banks,
- offer bill payment and Interoperable Cash Deposit services,
- display advertisements pertaining to non- financial products / services, and in addition,
- banks are permitted to issue co-branded ATM cards in partnership with the authorised WLAOs and extend the benefit of ‘on-us’ transactions to WLAs as well.
