India realised the need for a Ballistic Missile Defence system in the late 1990s after Pakistan tested the Ghauri missile with a range of more than 900 km with a capability to carry a nuclear warhead weighing one tonne. To protect vital assets in the shortest possible time, a two-layered air defence system was conceived. 1. Prithvi Air Defence (PAD) Missile for high altitude interception between 50–80 km 2. Advanced Air Defence (AAD) Missile for lower altitude interception upto 30 km The two-tiered shield should be able to intercept any incoming missile launched 5,000 kilometres away.
Defence Indian Ballistic Missile Defence Programme
Recently, the Reserve Bank of India released the Financial Stability Report. The report presents a grim picture of bad loan problem faced by the Indian banking sector. The report also makes some pertinent recommendations with respect to addressing the big NPA issue.