Dvara KGFS Facilitates Digital Banking Amongst the Remote India

Dvara KGFS, a leading NBFC in India, with a mission to maximise the financial well-being of every individual and every enterprise by providing complete access to financial services in remote rural India, announced transactions worth INR 7 crore achieved since 19th April, 2020 through its Aadhar Enabled Payment System (AEPS) which was implemented in the remote rural areas that they operate in.

Since the lockdown from 24th March 2020, the villagers, especially living in the remote rural areas were greatly encumbered to draw cash for daily use as there was scarce or no access to banks or ATMs. Looking at this challenge, Dvara KGFS initiated AEPS and rolled it out from 19th April 2020 to benefit the rural population that they cater to. This service was also made available at the door step of customers right on time as the government was transferring wages under MNREGA scheme & relief under COVID package directly to the Jan Dhan account of rural women. Started as a pilot in one branch on 19th April in partnership with RBL Bank, this has now scaled to 300 branches with a steady 1000+ daily cash withdrawals amounting to INR 25 – 30 lakhs per day.

Practising absolute safety and social distancing norms, more than 1000 wealth managers of Dvara KGFS, spread extensive awareness and acquainted the villagers with AEPS with the help of respective village heads and was able to facilitate over 36,000 cash withdrawals & 60,000 balance enquiries through this platform.

Commenting on the success of AEPS, Mr. Joby C. O., CEO, Dvara KGFS, said, “Since lockdown and the  announcement of Loan Moratorium by RBI, there has been limited activities across our branches on the loan disbursements & collections front & we have used this opportunity to reach out to our customers and support them to tide over the current situation. We are happy that we were able to provide AEPS service to around 45,000 villagers and facilitate a gross cash withdrawal of more than 7 Crores through our 300 odd branches in such a short span of time. Our Wealth Managers have received a lot of appreciation from the villagers on facilitating this service and we are seeing this as an effective tool which will help us move closer towards our mission of maximising financial well-being for every individual in remote rural India.”

About Dvara KGFS -  

Dvara KGFS, a systematically important NBFC in the Dvara Group regulated by RBI, works with a mission to maximise the financial well-being of every individual and every enterprise by providing complete access to financial services in remote rural India. Dvara KGFS has a strong presence in Tamil Nadu, Uttarakhand, Karnataka, Chhattisgarh, Jharkhand and Odisha, spread across 48 Districts with 297 branches and more than 1 million enrolled customers.

After Moon, ISRO plans mission to Sun

After the Chandrayaan-I moon odyssey, it's 'Mission Sun' for the Indian Space Research Organisation.

Scientists at ISRO are in the advanced stage of designing a spacecraft, named 'Aditya', to study the outermost region of the Sun called corona.

"That's a mini satellite. In fact, the design is just getting completed," ISRO Chairman G Madhavan Nair told PTI.

Chandrayaan
"During solar maxim...which is happening...we would like to see the type of emissions which are taking place in the Sun and how it interacts with the ionosphere and atmosphere and so on," he said.

According to Dr Jayati Datta, deputy programme director, Space Science Office, ISRO, Aditya is the first space basedSolar Coronagraph intended to study corona.

'Aditya' would be the first attempt by the Indian scientific community to unravel the mysteries associated with coronal heating, coronal mass ejections and the associated space weather processes and study of these would provide important information on the solar activity conditions, she said.

We will have total map of the moon, says ISRO

"A basic understanding of the physical processes and continuous monitoring would help in taking necessary steps towards protecting ISRO's satellites either by switching them off or putting them on a stand-by mode as warranted by the background conditions," Datta aaid.

The temperature of the solar corona goes beyond a million degrees. From the Earth, corona can be seen only during total solar eclipses, mainly due to the bright solar disc and the scattering of the sunlight by the Earth's atmosphere. One has to go beyond the atmosphere to be able to mask the bright solar disc and study the corona.

Chandrayaan may reveal moon mysteries

The space borne coronagraph 'Aditya' in would study the Coronal Mass Ejection and consequently the crucial physical parameters for space weather such as the coronal magnetic field structures, evolution of the coronal magnetic field etc, Datta said.

"Completely new information on the velocity fields and their variability in the inner corona, having an important bearing on the unsolved problem of heating of the Corona, would be obtained," she explained.

Activities towards 'Aditya Mission' have been initiated with the involvement of scientists from ISRO centres and prime national research institutes in the country.

PM sees first pictures from Chandrayaan

ISRO is planning to launch 'Aditya Mission' during the next high solar activity period. However, the exact date/time is not yet confirmed. "Aditya' is an indigenous/Indian mission. So far, there is no plan of putting any foreign payload on board Aditya mission," Datta said, adding that the United States, the European Space Agency and Japan [Images] have flown missions to study Sun and solar corona/activities.

The sun, which is highly turbulent and dynamic, sends out large chunks of charged particles and emits highly energetic electromagnetic radiation in all directions.

These radiations, on reaching Earth, cause severe near-Earth-space disturbances called Geomagnetic storms, which affect communication links, disturb power lines in high altitudes, cause aurora in polar regions and affect satellite systems directly and also indirectly through changes brought about in the near Earth atmosphere.