Current Affairs Agreements

  Infosys has inked a deal for 5 years with GEFCO to digitally transform its worldwide operations. Infosys has partnered with the multimodal supply chain solutions provider, GEFCO to strenghthen its Digital Transformation. The digital services and consulting firm Infosys will help GEFCO to transfrom GEFCO’s next-generation business application management services. It will also help GEFCO to emerge as ‘Digital Native’ organization. The prime objective of the partnership is to support GEFCO to create new sustainable sources of competitive advantage and to constantly improve value for its customers.

 On January 9, 2020, the Andhra Pradesh Government signed Memorandum of Understanding with a German firm to implement Zero Budget Natural Farming in the state.
  • Highlights
The state Government will take a loan of Rs 1015 crores to spend towards climate resilient Zero Budget Natural Farming. The project aims to cover 2.39 lakh farmers in 600 villages. The project was included in the Budget presentation of 2019. Along with ZBNF implementation, the Government will also implement Pradhan Mantri Fasal Bima Yojana.
  • Zero Budget Natural Farming
It is a chemical-free agricultural farming practice. The Government of India is promoting ZBNF through Paramparagat Krishi Vikas Yojana and Rashtriya Krishi Vikas Yojana since 2015-16. According to Economic Survey, 2018, more than 1.6 lalkh farmers are practicing Zero Budget Natural Farming in over 1000 villages. The ZBNF was first adopted by Karnataka. In 2018, Andhra Pradesh was the first state to introduce an ambitious plan of 100% of natural farming in the state by 2024. Currently, Indian Council of Agricultural Research (ICAR) is researching ZBNF methods on wheat and basmati.
  • States practicing ZBNF
The states that are practicing Zero Budget Natural Farming includes AP, Uttarakhand, Karnataka, Himachal Pradesh, Chhattisgarh and Kerala. All crops can be grown using ZBNF in all agro-climatic zones.

  India’s leading Digital lending startup, RevFin has joined hands with PNB MetLife India Insurance Company to offer protection to the RevFin’s customers by bundling life insurance cover on their loans. This insurance covers loans up to ?3 lakh for a period of 3 years. The collaboration will help PNB MetLife to reach out to unbanked areas & drive greater financial inclusion in the country by securing the families of the borrowers against loan repayment in case of unfortunate death of the borrower.
Source: The Hindu

  Common Service Centres (CSC) e-Governance Services India has signed a memorandum of understanding with Paytm Payments Bank Ltd (PPBL) for sale of FASTags. The agreement will facilitate the sale of PPBL FASTags through the last mile network of 3.6 lakh CSCs, helping realise the government’s vision of cashless and smooth transit at all toll plazas across the country. FASTags which work on Radio Frequency Identification (RFID) technology have been made mandatory at toll gates on national highways. The FASTag process allows toll payments directly from the prepaid or savings account linked to it, thus doing away with the need for waiting in queues, saving time and fuel.
Source: The Business Standard

  Private sector lender Federal Bank has tied up with online real estate platform Magicbricks for listing and e-auctioning of immovable properties repossessed by it in recovery proceedings. The move is aimed at speedy recovery of the bank’s impaired assets while helping customers get the best rate in the market for their properties.
Source: The Business Standard

  Kotak Mahindra Bank has tied up with Pine Labs to enable debit card facility for their debit cardholders across point-of-sale terminals by Pine Labs. Banks customers can avail EMI facility with a minimum purchase of Rs 8,000 and repay over 3 months to 12 months. Its aim is to provide affordable, flexible and easy EMI options on a range of products so that bank’s customers can break their high-value purchases into affordable instalments at no extra cost.
Source: The Hindu

  Bank of Baroda signed an MoU with the Gujarat government to facilitate the flow of credit in the Micro, Small and Medium Enterprises (MSMEs) sector. As per the agreement, the credit will be provided to the MSME for greenfield projects, startups, women entrepreneurs and entrepreneurs from backward areas under the Gujarat Single Window Clearance Act 2017 & Ordinance Number 1 of 2019 dated October 24, 2019.
Source: The Times of India

  Wipro has partnered with Nasscom to train students on emerging technologies. The programme will train on technologies such as artificial intelligence, data science, internet of things, cybersecurity. Wipro will train 10,000 students from engineering colleges in India as a part of Wipro’s corporate social responsibility programme “TalentNext“. TalentNext aims to improve the quality of engineering education by preparing faculty and academic leaders to train students. The programme will now be extended to students directly through Future Skills, a Nasscom platform. “Future Skills” bridges the industry-academia skill gap and help students learn new-age technologies.
Source: The Economic Times

  “Amazon.com Inc”, “Apple Inc” and Alphabet Inc’s “Google” have announced a partnership to lay the groundwork for better compatibility among their smart home products. Zigbee Alliance, whose members include IKEA and NXP Semiconductors among others, will also contribute to the project, titled ‘Connected Home over IP’. The partnership aims to make it easier for device manufacturers to build products that are compatible with smart home and voice services such as Alexa, Siri and Google Assistant.
Source: The Hindu

  State Bank of India (SBI) has signed a loan agreement worth of $277 million (about Rs 1,958 crore) with Kreditanstalt für Wiederaufbau (KfW) German development bank for establishing an energy-efficient housing programme in India. The programme shall be part of the Indo-German Development Co-operation, guided by the 2030 Agenda for Sustainable Development. Under the programme, both builders and homebuyers shall be financed for developing/purchasing energy-efficient residential projects that achieve at least 25 per cent energy savings in comparison to standard reference buildings. The arrangement of the loan and the grant facilities was facilitated by SBI’s investment banking subsidiary SBI Capital Markets Ltd.
Source: The Economic Times


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