16 Nov 2020: PIB Summary & Analysis

November 16th, 2020 PIB:- Download PDF Here

TABLE OF CONTENTS

1. Exercise Malabar 2020
2. Department of Investment and Public Asset Management (DIPAM)

1. Exercise Malabar 2020

Context:

Phase 2 of Exercise Malabar 2020 in the Western Indian Ocean.

Details:

• The second phase of Exercise Malabar is being conducted from 17^th to 20^th November.
• This phase will involve coordinated operations of increasing complexity between the navies of Australia, India, Japan and the United States.
• Apart from the aircraft carrier INS Vikramaditya, and its fighter and helicopter air-wings, indigenous destroyers Kolkata and Chennai, stealth frigate Talwar, Fleet Support Ship Deepak and integral helicopters will also participate in the exercise. Indigenously built submarine Khanderi and P8I maritime reconnaissance aircraft of the Indian Navy will also showcase their capabilities during the exercise.

Background

• The Malabar series of exercises, which began as an annual bilateral naval exercise between India and the US in 1992, has seen increasing scope and complexity over the years.
• The 24^th edition of MALABAR, which is being presently undertaken, highlights enhanced convergence of views amongst the four vibrant democracies on maritime issues, and showcases their commitment to an open, inclusive Indo-Pacific and a rules-based international order.
• For more on Exercise Malabar, click on the linked article.

2. Department of Investment and Public Asset Management (DIPAM)

Context:

DIPAM signs an agreement with World Bank for advisory services on asset monetization.

Details:

• Under the agreement, the World Bank will provide advisory services to DIPAM for asset monetization.
• DIPAM is mandated with facilitating the monetization of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of value INR 100 crores and above.
• DIPAM has a framework for monetizing non-core assets.
• The World Bank advisory project, approved by the Finance Minister, is aimed at analysing public asset monetization in India and benchmarking its institutional and business models against international best practices as well as supporting the development of operational guidelines and capacity building for their implementation.
• It is expected that this project would facilitate and accelerate the non-core asset monetization process and help unlock the value of these unused/marginally used assets which has the potential to substantially augment financial resources for further investments and growth.

For more on disinvestment and DIPAM, click on the linked article.

Read previous PIB here.

November 16th, 2020, PIB:- Download PDF Here