India has approved a deal to jointly develop a medium range surface-to-air missile (MR-SAM) system for the Army. This is the latest in a series of other variants of SAM systems for the Navy and the Air Force.

What is medium range surface-to-air missile (MR-SAM)
MR-SAM is the land based configuration of the missile. It consists of a command and control system, tracking radar, missile and mobile launcher systems. Each launcher will have eight such missiles in two stacks and are launched in a canister configuration. The system is also fitted with an advanced radio frequency (RF) seeker.

Details of the deal
1. The deal is for 200 missiles for five regiments, each getting 40 units. The missile has a range of 50-70 km.

2. The systems will be manufactured in India and would have an 80% indigenous content.

3. Gold scheme’s starts again (Relevant for GS Prelims and Mains Paper II, III)
The Centre announced that it would issue applications for the fourth tranche of the Sovereign Gold Bond scheme from February 27 to March 3.

What is Sovereign Gold Bond scheme?
Government of India launched the Sovereign gold bond (SGB) scheme as an alternate investment form to physical gold.

In this, investors will get returns based on the prevailing gold price by depositing their gold in banks which will provide the depositors interest for the deposited gold and incase  people want the gold back,  it will be returned in the form of gold bars.