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Air-independent propulsion

NIRVIK scheme
•Export Credit Guarantee Corporation of India (ECGC) has introduced ‘NIRVIK’ scheme to ease the lending process and enhance loan availability for exporters.
•Insurance cover guaranteed will cover up to 90 percent of the principal and interest.
•It mandates inspection of bank documents and records by ECGC officials for losses exceeding Rs.10 crore as against the present Rs 1crore
•The banks shall pay a premium to ECGC monthly on the principal and interest as the cover is offered for both outstandings.
•It will enhance accessibility and affordability of credit for exporters.(It will help make Indian exports competitive.)
Air-independent propulsion
•It is any technology which allows a non-nuclear submarine to operate without the need to access atmospheric oxygen (by surfacing or using a snorkel).
•It can augment or replace the diesel-electric propulsion system of non-nuclear vessels.
•It is based on the combustion of stored oxygen and ethanol to augment battery-powered propulsion
•AIP significantly improves stealth because it enables a submarine to generate electricity for services and battery charging and propulsion while completely submerged

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