Current Affairs Agreements

  Walmart India, in partnership with HDFC Bank, launched a co-branded credit card exclusively for members of its Best Price Modern Wholesale “B2B Cash & Carry” stores, offering “free credit up to 50 days. The card is being supported by Diners Club International which has acceptance of its own membership card in 185 countries.
Source: The Livemint

  The Asian Development Bank (ADB) has agreed to advance a loan of US $206 million to develop water supply and sewerage infrastructure in Tiruchi and other cities in Tamil Nadu. It will also strengthen the capacities of Urban Local Bodies (ULBs) for improved service delivery. The project initiatives are also expected to help the state develop the requisite ecosystem for economic growth. The project will target cities namely Ambur, Tiruchirappalli, Tiruppur, and Vellore for developing sewage collection and treatment and drainage systems. Improvement to water supply systems would be targeted in the cities of Madurai and Tiruppur.
Source: The News on AIR

  New Quest-backed U GRO Capital inked an SME loan co-origination agreement with State Bank of India to facilitate broader credit outreach and faster disbursal. The alliance to leverage U GRO Capital’s proprietary technology platform ‘GRO-Xstream’ to provide in-principle loan approval within 60 minutes. U GRO Capital, a BSE listed, technology-enabled small business lending platform entered into a loan co-origination.
Source: The Economic Times

  India and Uzbekistan have signed a pact for further strengthening of cooperation in the fields of counter-terrorism and organised crime. The agreement was signed by Union Home Minister Amit Shah and his Uzbekistan counterpart Pulat Bobojonov here to further increase cooperation between India and Uzbekistan in diverse fields including counter-terrorism, organized crime and human trafficking. The two sides discussed issues of mutual interest including bilateral counter-terrorism cooperation, capacity building and training for Uzbek security personnel in Indian institutions, border guarding and disaster management.
Source: The Press Information Bureau

 Commercial vehicle manufacturer Ashok Leyland Ltd. (ALL) has entered into a two­ year memorandum of understanding (MoU) with ICICI Bank to offer customised financial solutions to customers across India with a focus on semi­urban and rural geographies. The bank will work in close coordination with the authorised dealers of Ashok Leyland to provide financial solutions to the customers.
Source: The Hindu

 IIM Indore has signed a Memorandum of Understanding (MoU) with Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie. The MoU has been signed with a view to exchange faculty members for various training programmes. The MoU is in line with the vision to remain socially conscious and contribute to the society and nation. The two organisations have agreed for joint participation in research activities of common interest in the areas of public administration, management and public policy. The motive behind the training programme is to bring together representatives from these three fields, help them understand one another’s problems and find solutions.
Source: The Economic Times

  The Union ministry of health and family welfare signed a memorandum of cooperation (MoC) with Bill & Melinda Gates Foundation (BMGF). Under the MoC, Gates Foundation will provide technical, management and program design support through its grantees and other partners, with a special focus on innovation, best practices and enhancing performance management, while working closely with the government. The Foundation will support the ministry’s work towards strengthening the primary health aspects such as reducing maternal and child mortality, improving nutrition services and increasing the immunization reach.
Source: The Livemint

  ICICI Lombard has been partnering with Fino Payments Bank to offer non-life insurance solutions to its customers. As part of this association, ICICI Lombard has introduced several innovative insurance solutions that complement Fina’s technology-enabled platforms and harness its customer reach. Some of these offerings include Hospicash that provide customers with the means to cover their loss of income, especially in the case of migrant workers, if they are hospitalized. ICICI Lombard and Fino also launched Dengue and Malaria policy which covers treatment to Dengue and Malarial diseases up to Rs. 10,000 at a premium as low as Rs. 49.
Source: The Business Standard

  The Centre and Asian Development Bank (ADB) has signed an agreement to extend 91 million US dollar loan to modernize the Vijayanagara Channel Irrigation Systems and prepare river basin management plans in the Krishna river basin. It will help improve irrigation water use efficiency and contribute to improving sustainable water security in Karnataka. The investment programme will help Karnataka Government strengthening its institutions involved in integrated water resource management and modernizing the irrigation system infrastructure for improving water use efficiency in the State.
Source: The News on AIR

 Council of Scientific & Industrial Research(CSIR)-Institute of Microbial Technology (IMTECH), Chandigarh signed a Memorandum of Understanding (MoU) with Indian Institute of Technology (IIT) Bombay to promote collaborative research. The MoU will facilitate the exchange of ideas, development of new knowledge and enhance high-quality research acumen between the researchers and faculty of both the institutes. The objective of this collaboration is to carry out state of the art research in areas of healthcare especially in projects and mission where both the institutes can significantly complement each other. Both the institutes shall benefit immensely through this partnership as it will facilitate the exchange of faculty and students for the purpose of research, teaching, development and implementation of collaborative research projects, professional development programs, and capacity-building efforts.
Source: The Press Information Bureau


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