Current Affairs Agreements

  India and Sweden launched a joint programme that will work towards addressing a range of challenges around smart cities and clean technologies among others. The programme was co-funded by Indian Department of Science and Technology (DST) and Swedish agency Vinnova. Vinnova will provide funding to Swedish participants up to 2,500,000 Swedish Krona (around Rs1.87 crore) as a grant. On the Indian side, a conditional grant of up to 50% (with a limit of Rs1.5 crore) per project will be provided to the Indian partners.
Source- The Hindu Business Line

  PAISALO Digital Limited signed the first co-origination loan agreement with State Bank of India, the first agreement of its kind in the country that State Bank of India has signed. Introducing a platform for the last mile customer, the loan ticket is designed at Rs 10,000 to 2 lakh. The company expects to disburse 200,000 loan applications in FY20. PAISALO Digital Limited is a leading systemically important non-deposit taking NBFC registered with the Reserve Bank of India, in operations since 1992. The agreement was signed with a vision of empowering the AGRI, MSME segment and small businesses.
Source- The Hindu Business Line

 The BSE has signed a memorandum of understanding (MoU) with HDFC Bank with an objective to strengthen the BSE Startups platform. The MoU has been signed to spread more awareness on the benefits of the listing of startups on this BSE startup platform. The exchange had launched the startup platform in December, with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion.
Source: Economic Times

 The Indian Navy and Council of Scientific and Industrial Research (CSIR) inked an MoU to undertake joint research and development of advanced technologies for the Indian Navy. This will be a collaborative arrangement between labs of CSIR, the Indian Navy and Indian industry. The MoU provides a formal framework for interaction between the Indian Navy and CSIR.
Source- India Today

 State-run power giant National Thermal Power Corporation has inked a term-loan agreement with Canara Bank to raise Rs 2,000 crore, which would be used to part finance its capital expenditure. The loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of the NTPC.
Source- Business Standard

  The Bureau of Indian Standards (BIS) has inked an MoU with the Indian Institute of Technology, Delhi (IIT-D) to collaborate in the field of standardisation and conformity assessment. The MoU was signed by IIT Delhi Director Professor V Ramgopal Rao and Director General of BIS Surina Rajan.  According to the MoU, IIT Delhi will provide infrastructure support for research and development projects of relevance to standardisation and BIS will provide financial support to IIT Delhi for projects.
Source- Hindustan Times

 BSE (earlier known as Bombay Stock Exchange) and India International Exchange (India INX) have signed a memorandum of understanding with Moscow Exchange (MOEX) to connect investor community and companies in both countries besides allowing a capital formation platform. BSE and India INX are the first Indian exchanges to enter into the MoU with Moscow exchange. The exchange companies have agreed to the secondment of senior personnel to enhance understanding of activities in each other’s market.
Source: ANI News

 India and Chile signed three MoUs in the fields of mining, culture and empowerment of persons with disabilities. Chile announces it will allow visa-free entry to Indians holding valid US Visa. President Ram Nath Kovid participated in India-Chile Business Forum and interacted with young scientists at the University of Chile. President Ram Nath Kovind has concluded the his visit to Chile, the last leg of her three nation visit to Bolivia, Croatia and Chile. The two countries also agreed to explore opportunities for other cooperation in the defence sector.
Source- Press Information Bureau (PIB)

  Tata Power and Indraprastha Gas Limited (IGL) signed a memorandum of understanding to set up integrated customer services and optimize value for customers. The pact will also cover common safeguard activities of underground assets (pipes and cables) including the right of way for activities like maintenance and laying of pipes and cables, routine patrolling of under and above ground assets.
Source: Business Standard

  President Ram Nath Kovind has been conferred with the highest State honor of Bolivia, “Condor de Los Andes en el Grado de Gran Collar” during his visit to Bolivia. President of Bolivia Evo Morales awarded him the Honour at a function held in Santa Cruz. On the second day of President’s three-day visit to Bolivia, India and Bolivia signed eight MoUs in the fields of culture, Visa waiver arrangement for diplomats, exchange between diplomatic academies, mining, space, traditional medicine, establishment of Centre of Excellence in IT and Bi-Oceanic Railway project. India offered a 100 million US Dollar Line of Credit to Bolivia for financing development projects. Both countries also agreed on the need for reform of the UN Security Council to make it reflective of contemporary realities. President is in Bolivia on the 2nd leg of his 3 nation tour. He is on a three-nation visit to Croatia, Bolivia, and Chile.
Source- Press Information Bureau (PIB)


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