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List of MoUs Signed by India in October 2017

Published on Monday, October 30, 2017
MOU/ pact between
Purpose of the MOU/ Pact
Punjab National bank
To Provide loans to small and
Medium enterprises
India and Asian Development
To provide loans for coastal
Protection in Karnataka
India and Srilanka
To construct houses in Hambantota of Sri Lanka
State of Karnataka and
Micro Soft
To use Artificial intelligence
in agriculture

India and Vietnam

For the Purpose of investment

Pact Between EEPC and Punjab National Bank

  • The Engineering Export Promotion Council (EEPC) of India has signed a memorandum of understanding with Punjab National Bank. 
  • The pact is to provide easy access to finance for Small and Medium enterprises and merchant exporters of the council. 
  • As per pact Punjab National Bank will provide finance with assurance that loans up to Rs. 10 crore would be provided within six to seven weeks at competitive rates 
  • Besides, engineering exporters would be given a ‘Gold card’ under which additional benefits like quicker sanction and disbursal of loan will be extended.

ADB loan to Support Coastal Protection in Karnataka

  • India and Asian Development Bank signed 65.5 million dollars of loan agreement in Delhi. 
  • The amount of loan is used to check coastal erosion on the Western Coast in Karnataka. It also used to address coastal problems of the state of Karnataka. 
  • Public Works department of Karnataka is responsible for the implementation. 

MOU between India and Sri Lanka for Housing Project in Hambantota

  • India signed an MOU with Sri Lanka to develop 1,200 houses in Srilanka Southern port city of Hambantota. 
  • Out of 1200 houses, 600 houses developed in Hambantota remaining 600 will be developed across Sri Lanka 

MoU between Karnataka and Micro Soft

  • To use Artificial intelligence Karnataka state government signed a memorandum of understanding with Microsoft. 
  • As per MOU, the artificial technology is used for Agriculture by Karnataka to get higer crop yields in the state. 
  • This will help Karnataka farmers to increase their income. 

MOU between India and Vietnam

  • India and Vietnam signed a memorandum of understanding on Investment Promotion. 
  • This comes in the 45th anniversary of the establishment of Vietnamese-Indian diplomatic relations in 1972. 
  • The MOU will create close cooperation between India and Vietnam and boost investment activates 

MOU between BSE and Ebix:

  • An MOU was signed between Bombay Stock Exchange and Ebix insurance company to launch a joint venture company.
  • The main Purpose of MOU is to set up a pioneering insurance distribution network in India
  • The new company to be branded as BSE-Ebix

Other Information:

1. Asian Development Bank:
  • It was established in the year 1966 
  • Headquarters- Manila 
  • Presently it has 67 member countries including India 
2. Present CEO of Micro Soft- Satya Nadella. He is from India
3. The capital of Vietnam- Hanoi

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