Focus Merit

Category: Agreements/MOU

JICA and PNB tie-up to raise $75 million

April 7, 2020
PNB Housing Finance
  • Japan International Cooperation Agency(JICA) and Punjab National Bank Housing Finance have tied up to raise $75 million.
  • CitiBank will be Co-financing $25 million to finance mortgage loans.

APEDA inks MoU with SFAC for development of agriculture sector

March 21, 2020
APEDA
  • Agricultural and Processed Food Products Export Development Authority(APEDA) and Small Farmers Agribusiness Consortium(SFAC) has inked an MoU for the upliftment of agriculture and allied sectors as well as its exports for bringing better value to the stakeholders.

Key takeaways of the MoU signed by APEDA and SFAC:

  • As per MoU, APEDA and SFAC will cooperatively work to link up the FPOs with the exporters.
  • They will also work towards capacity upliftment, awareness programs, outreach programs and workshops of various stakeholders.
  • APEDA will facilitate certification of organic produce/areas by the Farmer Producer Companies (FPCs) assisted or identified by SFAC.

Defence Ministry inks contract with Israeli firm for LMG

March 20, 2020
Negev 7.62 X 51 mm LMG
  • The Ministry of Defence has inked the capital acquisition contract of worth Rs 880 crore with Israel Weapons Industries for the procurement of Light Machine Gun (LMGs).
  • The Light Machine Guns were the long-standing requirement of Indian Armed Forces.
  • Negev 7.62 X 51 mm LMG which is a combat weapon, is being used globally and expected to enhance the lethality as well as the range of a soldier vis-a-vis the presently used weapon.

DBS Bank & Bharti AXA pairs up for plans covering Covid-19

March 20, 2020
DBS Bank & Bharti AXA pairs up for plans covering Covid-19
  • DBS Bank India has paired-up with Bharti AXA to start a complimentary insurance plan which will cover all medical conditions, including Covid-19.
  • The insurance plan will also include up to 10 days of hospitalisation along with a cover of Rs 5,000 per day for a 30-day period.

L&T Services and IIT-Kanpur collaborate for research in industrial cyber security

March 19, 2020
L&T Services and IIT-Kanpur
  • The Indian Institute of Technology, Kanpur and L&T Technology Services have paired to carry out joint research in industrial and infrastructure cybersecurity.
  • They will jointly set up a Center of Excellence (CoE) at the IIT Kanpur campus and conduct research in the areas of Honeypot, intrusion detection systems, malware analysis, blockchain, vulnerability assessment and penetration checking and provide cybersecurity awareness and training programs.

Manikaran Power becomes the first member to pair up with IGX

March 18, 2020
IEX
  • Manikaran Power Ltd (MPL) has declared as the first member of India’s first gas trading platform which is called the Indian Gas Exchange (IGX).
  • IGX, the part of Indian Energy Exchange (IEX), is India’s first automated national level trading platform to promote and sustain an efficient and strong Gas market and to foster gas trading in the country.

Flipkart pairs up with Aegon to sell life insurance policies

March 17, 2020
Flipkart
  • Indian E-commerce company Flipkart has paired up with Aegon Life Insurance to sell comprehensive insurance solutions for customers.
  • The pair up aims those customers who are seeking instant digital policies with a sum assured of up to Rs 10 lakh.
  • These life insurance policies do not want medical tests or paperwork as it is an instant life insurance cover, with digital policy as its core value proposition.

Oil India inks COSA agreement with Numaligarh Refinery

March 17, 2020
OIL
  • India’s second-largest national oil explorer, Oil India Limited (OIL) has signed the Crude Oil Sales Agreement (COSA) with Numaligarh Refinery.
  • The agreement has been inked by the two entities for sale and purchase of crude oil.
  • It is expected to streamline sale and purchase transactions of crude oil which will be prepared from fields in the North East India.
  • It will be effective for a term of five years, i.e. from 1 April, 2020 to 31 March 2025.

CRPF & Aditya Mehta foundation ink MoU to enable the ‘Divyang Warriors’

March 17, 2020
Divyang Warriors
  • The Central Reserve Police Force (CRPF) signed a deal with a disability support NGO Aditya Mehta Foundation, to train its troops, who lost their limbs in operations, in various skills including cyber operations, artificial intelligence and para-sports.

TCIL inks MoU with The Gambia for MEA’s eVBAB Network Project

March 13, 2020
TCIL inks MoU with The Gambia for MEA’s eVBAB Network Project

Telecommunications Consultants India Ltd (TCIL) inked a Memorandum of Understanding (MoU) with The Gambia. This MoU is signed for the participation in MEA’s (eVBAB) e-VidyaBharati and e-ArogyaBharati Network Project for telemedicine and tele-education in Africa. The Gambia is the 16th country to job the e-Network Project. It is signed by the High commissioner of Gambia, Jainaba Jagne to the Director-Technical at the TCIL, Kamendra Kumar India at New Delhi.