Current Affairs Agreements

  Wipro has partnered with Nasscom to train students on emerging technologies. The programme will train on technologies such as artificial intelligence, data science, internet of things, cybersecurity. Wipro will train 10,000 students from engineering colleges in India as a part of Wipro’s corporate social responsibility programme “TalentNext“. TalentNext aims to improve the quality of engineering education by preparing faculty and academic leaders to train students. The programme will now be extended to students directly through Future Skills, a Nasscom platform. “Future Skills” bridges the industry-academia skill gap and help students learn new-age technologies.
Source: The Economic Times

  “Amazon.com Inc”, “Apple Inc” and Alphabet Inc’s “Google” have announced a partnership to lay the groundwork for better compatibility among their smart home products. Zigbee Alliance, whose members include IKEA and NXP Semiconductors among others, will also contribute to the project, titled ‘Connected Home over IP’. The partnership aims to make it easier for device manufacturers to build products that are compatible with smart home and voice services such as Alexa, Siri and Google Assistant.
Source: The Hindu

  State Bank of India (SBI) has signed a loan agreement worth of $277 million (about Rs 1,958 crore) with Kreditanstalt für Wiederaufbau (KfW) German development bank for establishing an energy-efficient housing programme in India. The programme shall be part of the Indo-German Development Co-operation, guided by the 2030 Agenda for Sustainable Development. Under the programme, both builders and homebuyers shall be financed for developing/purchasing energy-efficient residential projects that achieve at least 25 per cent energy savings in comparison to standard reference buildings. The arrangement of the loan and the grant facilities was facilitated by SBI’s investment banking subsidiary SBI Capital Markets Ltd.
Source: The Economic Times

  A memorandum of understanding (MoU) has been signed between National Small Industries Corporation (NSIC) and Suadi Aramco (Asia) for the development of Micro, Small and Medium Enterprises (MSME) Ecosystem in India in Oil & Gas Sector. The MoU will pave a way for accredited Indian MSMEs to carve out space as vendors in Global space.
Source: The Press Information Bureau

  National Thermal Power Corporation Limited has signed a term loan agreement for Rs. 5,000 crore with State Bank of India. The loan facility has been extended at an interest rate linked to 3 Months MCLR of the bank and has a door to door tenure of 15 years. The loan will be utilised to part finance the capital expenditure of NTPC.
Source- The Hindu Business Line

  Investor Education & Protection Fund Authority (IEPFA) works under the Ministry of Corporate Affairs, has signed a Memorandum of Understanding (MOU) with Bank of Baroda (BoB) to spread customer awareness and investor education and reaching out to investors and stakeholders. As per the agreement, 9,456 BoB branches will exhibit IEPFA posters on investor protection & 3,115 ATMs (Automated Teller Machine) and Cash Recyclers supported by self-service channels will feature digital banners on IEPFA.
Source: The Press Information Bureau

  The ties between India and Bangladesh for transcend strategic partnership. The multidimensional relationship between the two countries covers not only traditional areas like trade, commerce, security and border management but also new areas such as IT, space and nuclear science among others. India is a committed development partner of Bangladesh with a credit line worth 8 billion US dollars of which 80% is earmarked for infrastructure and connectivity sector.
Source: The News on AIR

 The Online trucking platform BlackBuck has partnered with private lenders IDFC Bank and Yes Bank to provide FASTags to truck owners free of cost. Truck owners can order FASTags on BlackBuck’s Boss App, a digital services platform exclusively for truck fleet owners, and it will be delivered at their doorstep free of cost until December 31, 2019. The initiative is expected to help over 3 million trucks in India become FASTag compliant.
Source: The Economic Times

 The National Investment and Infrastructure Fund (NIIF) of India and Canada Pension Plan Investment Board (CPPIB) have agreed for CPPIB to invest up to $600 million through the NIIF Master Fund. The agreement includes a commitment of $150 million in the NIIF Master Fund and co-investment rights of up to $450 million in future opportunities to invest alongside the NIIF Master Fund. The NIIF Master Fund invests equity capital in core infrastructure sectors in India, with a focus on transportation, energy and urban infrastructure.
Source: The Hindu

  Karnataka Vikas Grameena Bank (KVGB) and Canara, HSBC, Oriental Bank of Commerce, Life Insurance Company Ltd. signed an MoU for bancassurance (for selling life insurance products through the branches of KVGB). As per the pact, KVGB will market wide range insurance products of the Canara HSBC through its 636 branches in 9 districts of Karnataka.
Source: The Hindu


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