Current Affairs Agreements

 Ministry of Housing & Urban Affairs has signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) for PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi). PM SVANidhi is a Special Micro-Credit Facility for Street Vendors. According to the MoU, PM SVANidhi Scheme will be implemented by SIDBI under the guidance of MoHUA. The credit guarantee to the lending institutions would also be managed by the SIDBI through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Small Industries Development Bank of India (SIDBI) will ensure effective implementation of the scheme by providing a Project Management Unit (PMU) consisting of domain experts in training/ capacity building, project and platform management, banking, NBFC and MFI sectors etc for the period of scheme, i.e. upto March 2022. SIDBI will also leverage the network of lending Institutions for the Scheme implementation. The lending institutions will include Scheduled Commercials Banks (SCBs), Non-Bank Finance Companies (NBFCs), Regional Rural Banks (RRBs), Co-operative Banks, Small Finance Banks (SFBs), etc.

 Maruti Suzuki India (MSI) has collaborated with Karur Vysya Bank to offer simpler and flexible financing plans for new clients. Through the association with the bank, the company is trying to offer imminent purchasers exceptional plan of up to 100 per cent on-road funding with six months holiday period on all models, except van EECO, loans for both salaried and self-employed customers and repayment period up to 84 months. Karur Vysya Bank offers customers in-principle loan sanction in 15 minutes and existing customer of the bank can get their credits dispensed around the same time with the whole procedure from application to payment of the advance being digitalised with no manual intercession.

 Council of Scientific & Industrial Research (CSIR) has partnered with Atal Innovation Mission (AIM) to promote innovation in India. AIM is a Government of India flagship initiative that promotes a culture of innovation and entrepreneurship in the country. Both organizations have signed a letter of intent to boost innovation ecosystem of the country.

 The Asian Development Bank (ADB) and the Government of India have signed a $177 million loan to upgrade road infrastructure in the state of Maharashtra. The loan has been signed with prime objective of upgrading the 450 km of state highways and major district roads in the state of Maharashtra. The road improvement project consists of improving 2 major district roads and 11 state highways having the combined length of 450 km. The project will improve the connectivity to national highways, seaports, airports, industrial areas, rail hubs, interstate roads, district headquarters, enterprise clusters and agricultural areas. The project will also involve the strengthening of road safety measures with the development of a road safety audit framework that will led to the protection of vulnerable groups including the elderly, women, and children. 5-years performance-based maintenance obligations to contractors will be encouraged to sustain asset quality and service levels, hence updating road maintenance system. It will also train the Maharashtra Public Works Department project staff to enhance their capacity in climate change adaptation and disaster resilient features in various aspects such as road design, road maintenance planning and road safety.

 India’s leading web-based business commercial centre Flipkart has signed a Memorandum of Understanding (MoU) with Karnataka State Mango Department and Marketing Corporation, to empower mango farmers to sell their produce online. This association will give farmers the genuinely necessary market access to shoppers, making a potential income stream during these testing times of coronavirus. As a part of the MoU, Flipkart will give its marketplace platform to the Mango Board farmer producer associations/venders, cultivators and dealers by selecting them on the platform. Flipkart has collaborated with different Fast-moving consumer goods (FMCG) and retail organizations to welcome a more extensive scope of essentials on its platform. With this association, the organization invasions into the farmer producer organisation’s community further adding to supporting the jobs of mango producers and the farmer community.

 Power Finance Corporation (PFC), the central PSU under Ministry of Power has signed an MoU with Narmada Basin Projects Company Ltd. (NBPCL), a wholly-owned company of Govt. of Madhya Pradesh, to fund various power projects to be executed in the State of Madhya Pradesh. The funds of worth Rs 22,000 crore will be deployed by NBPCL for setting up hydroelectric projects of 225 MW along with power components of 12 other major multipurpose projects to be executed in Madhya Pradesh. Some of the major multipurpose projects for which PFC has signed MoU with NBPCL includes Chinki Boras Multipurpose Project Narsinghpur Raisen Hoshangabad, Dudhi Project Chhindwara Hoshangabad, Basaniya Multipurpose Project Dindori, Sakkar Pench Link Narsinghpur Chhindwara etc.

 REC Limited has partnered with TajSATS, a joint venture of IHCL and SATS Ltd, to provide nutritious meals to frontline healthcare workers. Both entities are leading the mission to provide meals to the medical staff in key government hospitals along with poor daily wage labourers across the nation. Over 18,000 meals are planned to be delivered in New Delhi through this initiative. REC Limited is a Navratna NBFC which has distributed more than 4.58 lacs Kilograms of food grains, 1.26 lac meal packets, 9600 litres of sanitizers, 3400 PPE kits and 83000 masks across the nation amid the nationwide lockdown due to COVID-19 pandemic.

 A Memorandum of Understanding (MoU) has been signed by NTPC Limited, and Oil and Natural Gas Corporation Limited (ONGC) to set up a Joint Venture Company for Renewable Energy business. This partnership will enable both the companies to accelerate their mark in the field of Renewable Energy. With this tie-up, the two companies will explore the setting up of offshore wind and other Renewable Energy Projects in India as well as overseas. They will also seek opportunities in the area of sustainability, storage, E-mobility, and Environmental, Social and Governance (ESG) compliant projects. This tie-up will enhance NTPC’s Renewable Energy capacity addition program and also the presence of ONGC in the Renewable Power business. It will also help ONGC in achieving its ambition of adding 10 GW of renewable power to its portfolio by 2040.

  Hyderabad Metro Rail Ltd in partnership with Paytm has launched a QR-code-based metro ticketing system at Rasoolpura metro station Hyderabad, Telangana. The new service will enable commuters to travel seamlessly and avoid queues to buy tokens at the metro stations. They can now simply purchase a QR ticket on their Paytm app, which can be displayed at the Automatic Fare Collection (AFC) gates to proceed for the journey. The feature will help over 14 lakh smartcard holders using the metro service. The company plans to extend the service to metro-feeder buses to ensure last-mile connectivity in the city. The QR-code-based ticket booking on our app will help in reducing congestion at the ticket counters.

  E-commerce giant Amazon has partnered with the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) under Ministry of Housing and Urban Affairs. The partnership aims to facilitate e-marketing of products which are made by Self Help Groups (SHGs) across the nation in urban areas. It also aims to provide access of the products made by SHGs to the wider customer base. It will also strengthen the mission of creating sustainable livelihoods in urban areas. The partnership is also having an underlying narrative of women empowerment which will be instrumental in unleashing the natural entrepreneurial capability of urban women. The collaboration will also help in documenting and preserving the unique traditional art and crafts of different states. This kind of partnership was also done by DAY-NULM with Flipkart in the past.
  • About Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM):
DAY-NULM was launched under the Ministry of Housing and Urban Affairs to reduce poverty and vulnerability of the urban poor households. This programme enable the urban poor households to access gainful self-employment and skilled wage employment opportunities. This accessibility to self-employment results in an appreciable improvement in their livelihoods on a sustainable basis.


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