Daily PIB Highlights (22-05-2025)

TOPIC-1: Financial Fraud Risk Indicator (FRI)

GS-3: Economy and Sci & Tech

The context:

On 21st May 2025, the Department of Telecommunications (DoT) has announced sharing of “Financial Fraud Risk Indicator (FRI)” with stakeholders- an output from a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention.

• • This will enhance cyber protection, and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers.

What is the “Financial Fraud Risk Indicator”?

• • It is a risk-based metric that classifies a mobile number to have been associated with Medium, High, or Very High risk of financial fraud.
  • This classification is an outcome of inputs obtained from various stakeholders including reporting on Indian Cybercrime Coordination Centre (I4C’s) National Cybercrime Reporting Portal (NCRP), DoT’s Chakshu platform, and Intelligence shared by banks and financial institutions.
  • It empowers stakeholders-especially banks, NBFCs, and UPI service providers- to prioritize enforcement and take additional customer protection measures in case a mobile number has high risk.

Classification is based on inputs from:

• • National Cybercrime Reporting Portal (I4C’s NCRP),
  • DoT’s Chakshu platform,
  • Intelligence shared by banks and financial institutions.

How does such advance notification help?

• • The Digital Intelligence Unit (DIU) of DoTregularly shares the list of Mobile Numbers that were disconnected (Mobile Number Revocation List – MNRL) with stakeholders along with the reasons for disconnections viz. found involved in cyber-crime, failed re-verification, exceeding prescribed limits. These numbers are also usually used for financial frauds.
  • As the life of a mobile number that is misused in cyber frauds is generally few days, and full verification can take several days, an advance indicator on risk associated with such numbers is very useful. Thus, as soon as a suspected mobile number is flagged by a stakeholder, it undergoes multi-dimensional analysis, and classifies it into Medium, High, or Very High financial risk associated with it. It then shares this assessment about the number immediately with all stakeholders through DIP.
  • As one of the Initial adopters of FRI, PhonePe has used it to decline transactions linked to Very High FRI mobile numbers and display an on-screen alert as part of PhonePe Protect  The data shared by PhonePe indicates the efficacy of the model as the predictability of the numbers passed as soft signal to be actually involved in cyber fraud cases has been found to be very high. For Medium FRI numbers, PhonePe is working for displaying a proactive user warning before allowing the transaction.

Source: PIB

Topic- 2: INSV Kaundinya

GS- 1 & 3: Art & Culture, Economy, Science & Tech

The context:

The Indian Navy formally inducted and named the Ancient Stitched ship as INSV Kaundinya on 22^nd May 2025 at a ceremonial event held at Naval Base, Karwar. The Hon’ble Minister of Culture presided over the event as the Chief Guest, marking the culmination of an extraordinary project that celebrates India’s rich shipbuilding heritage.

About the INSV Kaundinya:

• • It is a stitched sail ship, based on a 5th century CE ship depicted in the paintings of Ajanta Caves.
  • The project was initiated through a tripartite agreement signed in Jul 2023 between the Ministry of Culture, the Indian Navy, and M/s Hodi Innovations,with funding from the Ministry of Culture.
  • The vessel’s construction was undertaken using a traditional method of stitching by a team of skilled artisans from Kerala, led by master shipwright Shri Babu Sankaran.
  • Over several months, the team painstakingly stitched wooden planks on the ship’s hull using coir rope, coconut fibre and natural resin. The ship was launched in Feb 2025 at Goa.
  • The Indian Navy played a central role in the project, overseeing the design, technical validation, and construction process.With no surviving blueprints of such vessels, the design had to be inferred from iconographic sources.
  • The Navy collaborated with the shipbuilder to recreate the hull form and traditional rigging, and ensured that the design was validated through hydrodynamic model testing at the Department of Ocean Engineering, IIT Madras, and internal technical assessment.
  • The newly inducted vessel incorporates several culturally significant features. Her sails display motifs of the Gandabherundaand the Sun, her bow bears a sculpted Simha Yali , and a symbolic Harappan style stone anchor adorns her deck, each element evoking the rich maritime traditions of ancient India.
  • Named after Kaundinya, the legendary Indian mariner who sailed across the Indian Ocean to Southeast Asia,the ship serves as a tangible symbol of India’s long-standing traditions of maritime exploration, trade, and cultural exchange.
  • The ship will now embark on her next historic phase, involving preparations for a transoceanic voyage along the ancient trade route from Gujarat to Oman, scheduled for later this year.

Source: PIB

Topic- 3:  3rd United Nations Ocean Conference (UNOC3)

GS-3: Economy and Sci & Tech

The context:

The Ministry of Earth Sciences (MoES), Government of India, in collaboration with the Embassy of France and the Embassy of Costa Rica in India, hosted the “Second Blue Talks” on 20^th May, 2025, at Prithvi Bhawan, Lodhi Road, New Delhi. This event aimed to serve as a milestone in the lead-up to the 3^rd United Nations Ocean Conference (UNOC3), which will be held in Nice, France, from 09^th -13^th June, 2025.

Key Highlights:

• • The success of the first Blue Talks held in February 2024, the second meeting convened leading scientists, policymakers, global stakeholders, and representatives from government, academia, industry, and civil society.
  • The forum aimed to accelerate action and galvanize concrete commitments towards the conservation and sustainable use of our oceans, directly aligning with the UNOC3 theme.
  • The event was chaired by the MoES and emphasized prioritizing ocean resource mapping, developing technologies, implementing policy interventions, and investing in human capital to achieve SDG 14 and the UN Ocean Decade goals.
  • MoES launched a white paper titled “Transforming India’s Blue Economy: Investment, Innovation and Sustainable Growth” in collaboration with its strategic knowledge partner.
  • The white paper provides a consolidated framework aligning government actions, fostering cross-sectoral synergies, and promoting investment to unlock India’s ocean potential.
  • The report highlights India’s vast marine resources, including the coastline and EEZ, as vital engines for national progress.
  • It showcases the collaborative efforts of 25 ministries and coastal/UT initiatives toward sustainable ocean growth.
  • The report aligns with India’s G20 Presidency commitments and the Chennai High-Level Principles for a Sustainable and Resilient Blue Economy.
  • It emphasizes the need for a coordinated approach to overcome challenges like limited data sharing, low private investment, and technology gaps in areas like offshore wind and deep-sea exploration.
  • The report highlights scalable models such as women-led seaweed farming, smart ports, and green ship recycling to achieve sustainable economic growth.

The core objective of the second Blue Talks was a stakeholder consultation centred around four themes:

• • • Conserving, sustainably managing, and restoring marine and coastal ecosystems
    • Increasing scientific cooperation, knowledge building, marine technology, and education
    • Reducing marine pollution from land-based activities and beyond
    • Leveraging the interconnectedness of ocean, climate, and biodiversity

• • The importance of India’s ratification of the BBNJ Agreement and the opportunity to gather expert perspectives ahead of UNOC3.
  • The event fostered discussions, encouraging collaborative problem-solving and innovation for long-term ocean sustainability.

Source: PIB