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RBI to regulate NPCI, retail payment systems with increased oversight

RBI to regulate NPCI, retail payment systems with increased oversight

Finance
The Reserve Bank of India is set to govern the country’s burgeoning retail payment systems with increased regulatory oversight, extending principles established to regulate systematically important financial market infrastructures (FMIs) for improved supervision of select digital payments participants – most notably the National Payments Corporation of India (NPCI). The updated oversight framework, released by the central bank on Saturday, lays down new designations of systematically important FMIs, legal framework that governs them and the revised oversight scope of the Reserve Bank in regulating the digital payments ecosystem. The updated framework treats NPCI and National Electronic Fund Transfer (NEFT) as FMIs as well. Systematically important FMIs till now only included Real Time Gros...
L3Harris nabs $383.2M to provide man pack radio systems for Marines

L3Harris nabs $383.2M to provide man pack radio systems for Marines

Business
March 10 (UPI) -- L3 Harris Technologies was awarded a $ 383.2 million Navy contract for the purchase of radio systems for the U.S. Marine Corps, according to the Department of Defense. Under the contract, the Navy will purchase L3 Harris high frequency radio systems with National Security Agency certified Type 1 encryption, radio ancillaries, provisioning kits and required documentation and training. Included in the purchase are: L3 Harris portable HF receiver transmitters (RF-300H-MP man pack systems); vehicle-based HF systems (based around a RF-300H-MP); transit case HF systems (based around a RF-300H-MP); and their components. L3 launched the RF-300H man pack radio system in 2017 to improve high-frequency tactical communications by transmitting high-level security images, maps and ot...
BAE Systems awarded $24.6M for post-shakedown availability for Freedom-class ship

BAE Systems awarded $24.6M for post-shakedown availability for Freedom-class ship

Business
Feb. 14 (UPI) -- The Navy has award BAE Systems with a $ 24.6 million contract for post-shakedown availability for one Freedom-variant littoral combat ship, the Pentagon announced Friday. A post-shakedown availability takes place in a period of about 16 weeks between the transfer of a ship to the Navy and the shipbuilding conversion date. Freedom-class littoral combat ships, which are built by Lockheed Martin, carry a variety of light weapon systems as well as short-range missiles and anti-submarine torpedoes. BAE's post-shakedown availability will include correction of trial card deficiencies, new work identified between custody transfer and the time of the availability and incorporation incorporation of approved engineering changes not addressed under the building yard's construction c...
Lockheed nabs $185M to produce SEWIP systems for Navy

Lockheed nabs $185M to produce SEWIP systems for Navy

Business
Jan. 29 (UPI) -- Lockheed Martin was awarded a $ 185 million contract for production of Surface Electronic Warfare Improvement Programs that defend the Navy's aircraft carriers, cruisers and destroyers from missiles, the Pentagon announced. The contract funds a one-year period but includes options that could extend the contract four additional years, for a potential cumulative value of $ 812 million. The bulk of work -- 78 percent -- will take place at Lockheed's worksite in Liverpool, New York, with the remaining 22 percent taking place in Lansdale, Penn. Lockheed told syracuse.com it does not intend to do any additional hiring to fulfill the contract, though the company recently held a job fair to recruit for up to 118 positions in upstate New York. SEWIP is an upgrade to the existing ...
BAE Systems awarded $249.2 million modification for self-propelled Howitzers

BAE Systems awarded $249.2 million modification for self-propelled Howitzers

Business
Dec. 13 (UPI) -- BAE Systems Land & Armaments received a $ 249.2 million modification Friday to provide ammunition and support for self-propelled Howitzer vehicles for the U.S. Army. The modification adds funds to an ongoing production contract, originally awarded in March 2017, to build and deliver M109A7s and M992A3s for the Army. The M109A7 is a recent model of the self-propelled Howitzer, a vehicle primarily used for indirect fire support operations for the U.S. Army Brigade Combat Team. The M992A3 is a Field Artillery Ammunition Supply Vehicle, a heavily armored munitions carrier that assists the M109A7's mission. Under the original contract BAE received $ 133.5 million for the vehicles. In February 2018 the contractor received $ 148 million to procure materials to build the veh...