Current Affairs Agreements

  Reliance Jio and Microsoft announced a partnership to accelerate the digital transformation in India. Under this deal, Microsoft will bring in the Azure Cloud on Jio Network and target the enterprise and business users seeking a technological shift.
Source: The Economic Times

 Indian Bank has entered into a corporate agency agreement with Cholamandalam MS General Insurance Company Ltd. Under the agreement, Indian Bank will distribute the latter’s insurance products ranging from motor, home, health PA, and travel insurance, and SME and commercial line of business etc. All these products will be distributed through traditional and digital platform to Indian Bank customers.
Source: The Business Standard

 The Indian Institute of Technology Madras partnered with National Institute of Ocean Technology to harness electricity from ocean waves. Both institutions will together develop turbines that can harness the power of ocean waves to generate electricity. The research is being headed at IIT Madras. The partnership is aimed at meeting renewable energy and climate change objectives of the government of India.
Source: The Economic Times

 The National Institute of Solar Energy and the United Nations Industrial Development Organization have signed an agreement to initiate a skill development programme for different levels of beneficiaries in the solar thermal energy sector. NISE and UNIDO will engage national and international experts to bring the best practices by developing specialized training material.
Source: The Press Information Bureau

  The Uttar Pradesh government has extended bilateral agreements with Netherlandstill 2024. The previously inked MoUs sought cooperation and exchange of the knowledge and techniques in the fields of solid waste management, spatial planning, water management including restoration of water bodies and mobility planning.
Source: The India Today

 AustralianSuper and Ontario Teachers’ Pension Plan will invest $1 billion each in the National Investment and Infrastructure Fund (NIIF) Master Fund. The agreements include commitments of $250 million each in the Master Fund and co-investment rights of up to $750 million each in future opportunities alongside the Fund. 
National Investment and Infrastructure Fund is India’s first sovereign wealth fund that was set up by the Government of India in February 2015. It manages over $4 billion of capital commitments across three funds. The Fund invests in equity capital in core infrastructure sectors in India with a focus on transportation, energy and urban infrastructure. AustralianSuper is Australia’s largest superannuation fund and Ontario Teachers’ Pension Plan is Canada’s largest single-profession pension plan. AustralianSuper and Ontario Teachers’ will also become shareholders in National Investment and Infrastructure Fund Limited.
Source: The Economic Times

  India has signed a deal worth around Rs 1,500 crore to acquire R-27 air-to-air missiles from Russia to be equipped on the Su-30MKI combat aircraft. The R-27 missile is a medium-to-long-range air-to-air missile for MiG and Sukhoi series of fighter jets.
Source: The Economics Times

  India, Mozambique sign 2 MoUs to strengthen defence cooperation. The two MoUs include an agreement on sharing white shipping information and another on co-operation in the field of Hydrography. The documents were signed following a meeting between Defence Minister Rajnath Singh and his Mozambican counterpart Atanasio Salvador M’tumuke. Rajnath Singh is currently on his first official visit abroad as the Defence Minister to the African country. This is also the first time a Defence Minister has visited Mozambique.
Source: The Business Standard

  Prime Minister of Nepal inaugurated India-Nepal Logistics Summit between India and Nepal in Kathmandu. The theme of the summit was “Transforming Logistics Landscape”.  The aim of the bilateral cooperation is initiatives have been taken on crucial components of road, rail, inland waterways and air connectivity.
Source: The News on AIR

  Minister of State for Defence and Senior General Min Aung Hlaing, Commander-in-Chief of Defence Services of Myanmar signed MoU to enhancing defence co-operation, review joint exercises and training provided to Myanmar Defence Services, strengthen maritime security by joint surveillance and capacity building, medical co-operation, pollution response and for developing new infrastructure.
Source: The Press Information Bureau


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