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- Today (12th September) is United Nations Day for South-South Cooperation.
- China and Russia have started naval drills in the disputed South China Sea today.
- China claimed that the "routine" drills, which are expected to last eight days, are only aimed at strengthening cooperation.
- This comes amid tensions in the contested waters after a UN court ruled that China does not have "historic rights" over the region.
- The government today approved the Human Resource Development Ministry's proposal to set up a Higher Education Financing Agency (HEFA) that will pro vide funds for research-oriented infrastructure in premier institutions like IITs and IIMs.
- HEFA is expected to raise up to ₹20,000 crore for funding world-class labs and mobilise CSR funds for promoting research in these institutions on a grant basis.