Current Affairs Agreements

 The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-
The Cabinet has approved-
  • MoU between India and Indonesia on cooperation in the field of pharmaceutical products, pharmaceutical substances, biological product and cosmetics regulatory functions.
  • Mutual Recognition Agreement (MRA) signed in 2010 and approves fresh MRA between the ICAI and the Institute of Certified Public Accountants, Ireland. Background: The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament of India, The Chartered Accountants Act, 1949', to regulate the profession of Chartered Accountancy in India.
  • MoU between the Institute of Chartered Accountants of India and Bahrain Institute of Banking and Finance, Bahrain.
  • MoU between the Institute of Chartered Accountants of India and "National Board of Accountants and Auditors, Tanzania- The MoU will develop a mutually beneficial relationship in the best interest of ICAI members, students and their organizations.
  • Establishment of Medical College, Salempur at Deoria, Uttar Pradesh.
  • Policy framework for streamlining the working of Production Sharing Contracts (PSCs) in Pre-NELP and NELP Blocks.
  • Continuation of the Schemes of (i) Pre-Matric Scholarship Scheme; (ii) Post Matric Scholarship Scheme; and (iii) Merit-cum-Means based Scholarship Scheme for the students belonging to Minority Communities during 2017-18 to 2019-20.\
  • Special Package for Irrigation Projects in Vidarbha, Marathwada and other chronically drought-prone areas of Rest of Maharashtra.
  • Signing of MoU amongst BRICS Nations on the Regional Aviation Partnership- The objective is that BRICS countries would benefit from the establishment of an institutional framework to cooperate in the field of civil aviation.
  • MoU between India and Cuba on cooperation in the field of Traditional Systems of Medicine and Homeopathy- The MoU will enhance bilateral cooperation between the two countries in the areas of Traditional Systems of Medicine and Homeopathy.
  • Determination of Fair and Remunerative Price payable by Sugar Mills for 2018-19 sugar season- Cabinet has approved the Fair and Remunerative Price (FRP) of sugarcane for sugar season 2018-19 at Rs. 275/- per quintal for a basic recovery rate of 10%; providing a premium of Rs. 2.75/qtl for each 0.1 % increase in recovery over and above 10%. The cost of production of sugarcane for the sugar season 2018-19 is Rs. 155 per quintal.
  • Source- Press Information Bureau (PIB) 

     Defence public sector undertaking Bharat Electronics Limited (BEL) has signed an MoU with Saab, Sweden,recently for jointly marketing the L-Band 3D Air Surveillance Radar, RAWL-03, co-developed by BEL and Saab.  BEL has joined hands with Saab, Sweden and the US, to market the Long Range Air Surveillance Radar, a cost-effective L Band three dimensional radar, for early detection and tracking of air and surface targets, thereby, enabling engagement of fire control systems to neutralise the same.
    Source- The Hindu Business Line

     India signed a revised travel agreement with Bangladesh to ease visa restrictions for citizens from the neighbouring country. The agreement was signed between the two countries in Dhaka in presence of visitingHome Minister Rajnath Singh and his counterpart Asaduzzaman Khan. Under the Revised Travel Arrangement (RTA)-2018, freedom fighters and elderly Bangladeshi nationals will get five-year multiple visa from India. The Home Minister called on Bangladesh Prime Minister Sheikh Hasina and discussed issues of mutual concern, including terrorism. 
    Source- AIR World Service

      The University of Houston, Texas has signed an MoU with the Indian Institute of Petroleum and Energy (IIPE) to build scientific and technical knowledge through joint research. The agreement was signed at Houston by IIPE founding director VSRK Prasad and UH vice provost for global strategies and studies, Jaime Ortiz. It covers key areas of possible collaboration in faculty exchanges, offshore and onshore petroleum engineering, process control systems and process safety in all chemical engineering fields and non-conventional energy areas.
    Source- Press Information Bureau (PIB)

     India and the United Kingdom signed an agreement on the exchange of experience by legal professionals and government functionaries for resolution of disputes before various courts and tribunals. The agreement was signed by Law Minister Ravi Shankar Prasad and UK’s Secretary of State for Justice David Gauke in London.  The MoU sought to enhance bilateral cooperation in legal affairs which would provide a framework for promoting greater cooperation between the judicial and legal professionals in both countries through the exchange of expertise and training. 
    Source- AIR World Service

     An MoU was signed between the Indian Army and State Bank of India on the Defence Salary Package. The signing-in ceremony was chaired by the Director-General (MP&PS), Lt Gen SK Saini in Mumbai. The first MoU between SBI and the Indian Army was signed in 2011 and was renewed on 23 Feb 2015. This MoU will benefit a large number of serving and retired Army personnel who are having their accounts with SBI. The MoU will be valid till 03 Jan 2019 and continuation thereafter will be subject to review/renewal. 
    Source- Press Information Bureau (PIB)

     Microsoft has signed an MoU with the Rajasthan government to provide free digital training to 9,500 college students in one year. The initiative was taken for the enhancement of digital learning and capacity building of college students in the state. Microsoft will also train educators from government colleges through the Microsoft Innovative Educator Programme, building capacity for innovative use of Information and Communications Technology (ICT) in the classroom.
    Source- The Outlook

     India and South Korea have signed five MoUs in the field of Science and Technology in New Delhi. Science and Technology Minister, Dr Harsh Vardhan and his South Korean counterpart You Young Min signed three MoUs which are Programme of Cooperation 2018-21, Establishment of Future Strategy Group and Cooperation in Bio-technology and Bio-economy.  Two other MoUs were signed between Council of Scientific and  Industrial Research and South Korean National Research Council for Science and  Technology and IIT Mumbai and Korea Institute of Science and Technology, to further accelerate future-oriented cooperation. 
    Source- AIR World Service

     India and South Korea signed 11 Memorandum of Understandings (MOUs) during South Korean President Moon Jae-in's visit to India. The 11 MoUs signed between the two countries are: 
  • Upgraded Comprehensive Economic Partnership Agreement (CEPA) was signed to facilitate ongoing negotiations on upgrading the India-RoK (Republic of Korea) CEPA by identifying key areas for trade liberalization (including shrimp, molluscs and processed fish).
  • An MoU on trade remedies was signed for cooperation in the area of trade remedies such as anti-dumping, subsidy, countervailing and safeguard measures through consultations and exchange of information.
  • An MoU on future strategy group was inked for cooperation in the development of cutting-edge technologies for commercialisation to reap the benefits of the fourth industrial revolution.
  • An agreement on a cultural exchange programme for the period 2018-2022 was signed to deepen cultural and people-to-people relations by providing for institutionalised cooperation in fields of music and dance, theatre, art exhibitions, archives, anthropology, mass media programmes and museum exhibits.
  • An MoU on cooperation in the field of scientific and technological research between Council for Scientific and Industrial Research (CSIR) and National Research Council of Science and Technology (NST) was signed.
  • An MoU on cooperation between Research Design and Standards Organization (RDSO) and Korea Railroad Research Institute (KRRI) was signed for cooperation in railway research, exchange of railway-related experience and development of railway industries.
  • An MoU on cooperation in the field of biotechnology and bio-economics was signed for cooperation in the adoption of biotechnology and bio big-data in health, medicine, agro fishery products.
  • An MoU on cooperation in the field of ICT and telecommunications was signed for cooperation in development, modernisation and expansion of state-of-the-art telecommunication/ICT services and next-generation wireless communication networks.
  • An MoU on cooperation in the field of Micro, Small and Medium Enterprises (MSMEs) between India and RoK was signed between the National Small Industries Corporation of India and the Small and Medium Business Corporation (SBC) of South Korea. 
  • An MoU on Queen Suriratna memorial project was signed to facilitate upgradation and expansion of the existing monument commemorating Princess Suriratna (Queen Hur Hwang-ok), a legendary Princess of Ayodhya, who went to Korea in AD 48 and married King Kim-Suro.
  • An MoU between the Gujarat government and Korea Trade Promotion Agency (KOTRA) was inked to enhance industrial and investment relations between South Korean companies and Gujarat. KOTRA shall open an office in Ahmedabad and will become one of the partner organisations for the Vibrant Gujarat Global Summit 2019.
  • Source- ANI News

     The 2nd meeting of the joint working group on tourism cooperation between India and Nepal concluded in Kathmandu, Nepal. Both sides agreed to jointly promote Buddhist and Ramayana circuits and Adventure tourism. The meeting also decided to set up an industry-led India Nepal Tourism Forum. The Indian delegation was led by the Joint Secretary, Ministry of Tourism Suman Billa, while Nepalese side was led by Joint Secretary, Ministry of Culture, Tourism and Civil Aviation Ghanshyam Upadhyaya.
    Source- The Hindu


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