MOU’S Signed Oct-23IBM, MeitY partner to boost innovation in AI, semiconductor, quantum tech
IT major IBM signed three MoUs with three entities engaged with the Ministry of Electronics and Information Technology (MeitY) to advance and accelerate innovation in AI, semiconductor and quantum technology for the country. In a fillip to the IndiaAI initiative, the company will establish a worldclass national AI Innovation Platform (AIIP) to focus on AI training, ecosystem development, and integrating advanced foundation models and generative AI capabilities with access to the IBM watsonx AI and data platform. The firm will cooperate with the India Semiconductor Mission (ISM) for establishing a research centre that catalyses the development of the semiconductor R&D ecosystem in the country, for which IBM would be a knowledge partner.
IBM:
- Headquarters: Armonk, New York
- Founder(s): Charles Ranlett Flint, Herman Hollerith, Thomas J. Watson
- Founded: 1911
Defence Ministry signs contract for construction of first Indian Coast Guard Training Ship with Mazagon Dock Shipbuilders Ltd
The Ministry of Defence signed a contract for the construction of one Training Ship for the Indian Coast Guard (ICG) with Mazagon Dock Shipbuilders Ltd (MDL), Mumbai at a cost of Rs 310 crore under the Buy (Indian- IDDM) category in New Delhi. This is the first dedicated training platform with integral helicopter capabilities that will provide basic sea training to 70 Coast Guard and other international under-trainee officers to prepare these budding mariners on the multi-dimensional maritime aspects of Coast Guard life. This training ship with advanced and modern high-tech surveillance and monitoring systems will provide profound insight and expertise to the ICG cadets on the challenges at sea while ensuring the security of coastline and offshore assets. The majority of equipment and systems will be sourced from indigenous manufacturers, including MSMEs.The project envisages to generate significant employment over a period of three years. While meeting the objectives of ‘Aatmanirbhar Bharat’, the contract would also boost the indigenous shipbuilding capability and help in bolstering maritime economic capabilities.
The Department of Land Resources (DoLR) and the National Remote Sensing Centre (NRSC) have signed a pact to monitor the Watershed Development Component (WDC) projects under the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY). The NSRC will monitor the watershed development projects through high-resolution satellite data and customize software tools for monitoring the projects on the Bhuvan website. The NSRC will customize the Bhuvan web page Srishti for WDC 2. 0 projects and the mobile application Drishti for field data collection and data transfer to Bhuvan. Bhuvan is an Indian web-based utility that allows users to explore a set of geographic content prepared by the Indian Space Research Organisation (ISRO). The NSRC will also facilitate online image comparison and visualization with respect to detailed project reports and create a dashboard for project status reporting.
PMKSY:
- Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) was launched in 2015-16 to enhance physical access to water on farms, expand cultivable areas under assured irrigation, improve on-farm water use efficiency, and introduce sustainable water conservation practices.
- It is an amalgamation of ongoing schemes like the Accelerated Irrigation Benefit Programme (AIBP) of the Ministry of Water Resources, River Development & Ganga Rejuvenation (MoWR, RD&GR), Integrated Watershed Management Programme (IWMP) of the Department of Land Resources (DoLR), and the On Farm Water Management (OFWM) of the Department of Agriculture and Cooperation (DAC).
Bajaj Finance to acquire 26% stake in Pennant Technologies for Rs. 267. 50 crore
Bajaj Finance has entered into a binding agreement to acquire 26% stake in technology services and software products company Pennant Technologies Pvt Ltd. Bajaj will pay Rs 267. 50 crore for the stake valuing the company at more than Rs 1000 crore. The object of the strategic investment is to strengthen company’s technology roadmap. The acquisition is likely to be completed by December 30, 2023.
Bajaj Finance:
- Headquarters: Pune
- Founder(s): Jamnalal Bajaj
- Founded: 2007
- Parent organization: Bajaj Group
International Olympic Committee (IOC) and Reliance Foundation announced an agreement to promote Olympic values through sport.
The International Olympic Committee (IOC), the Olympic Museum and Reliance Foundation announced an agreement to promote Olympic values through sport among children starting with the Mumbai region and soon expanding it across the state of Maharashtra. The agreement will focus on gradespecific activities in selected schools, sessions between athletes and students to promote physical activity and raising awareness to promote Olympism and Olympic values. The Olympics Value Education Program (OVEP) was launched in India last year with the Abhinav Bindra Foundation in Odisha. It is one of the first major IOC projects to be implemented in India. The programme, now in its second year, has now reached more than 700 teachers and 250,000 children in 350 schools and expanded to the state of Assam. Once in full swing, OVEP’s engagement in India is anticipated to reach around 29 million children.
International Olympic Committee:
- President: Thomas Bach
- Headquarters: Lausanne, Switzerland
- Founded: 23 June 1894, Paris, France
- Director General: Christophe De Kepper
- Founders: Pierre de Coubertin, D. Bikélas
Tata arm joins hands with DroneAcharya to train drone pilots in India
DroneAcharya, in partnership with Tata STRIVE, has initiated drone pilot training, offering a solution to bridge the skill gap and create opportunities for underprivileged individuals. This strategic collaboration aims to provide specialized training in the burgeoning drone industry, equipping candidates with the skills and knowledge needed to secure better livelihoods and establish promising careers. The Training Program: The core component of this partnership is the comprehensive training program, encompassing DGCA certified drone pilot training and job placement assistance. The inaugural batch will comprise 20 individuals with diverse backgrounds,and plans are in place to scale up the initiative, allowing individuals with any Indian Governmentissued ID and address proof document to enroll.
DroneAcharya Aerial Innovations Limited:
- Founded: 2017
- CEO: Prateek Srivastava
- Headquarters: India
Kotak Mahindra gets RBI nod to acquire Sonata Finance
Kotak Mahindra, received approval from the Reserve Bank of India to acquire Sonata Finance for ₹537 crore. The bank had announced to acquire 100% stake of the Non-Banking Finance Company, Sonata Finance Private Limited, in February this year. After the completion of the transaction, Sonata will become a ‘wholly-owned subsidiary of the Bank’. Earlier,Kotak Mahindra bought BSS Microfinance in an allcash deal for ₹139 crore in September 2016. The acquisition had helped the company in gaining its stronghold in the southern part. However, Sonata Microfinance will help the company in expanding its presence in the northern states, Tapobrat Chaudhuri, President and Head of microfinance business of Kotak Mahindra Bank.
Skill India partners with Coca-Cola India to launch Retailer Skill Development Program
To empower the retailer community in the states of Odisha and Uttar Pradesh, the National Skill Development Corporation (NSDC), working under theaegis of the Ministry of Skill Development & Entrepreneurship (MSDE), announced a partnership with Coca-Cola India to launch the Super Power Retailer Program under the Skill India Mission. The program is being piloted in the state of Odisha. The initiative will play a pivotal role in strengthening India’s economy by skilling, reskilling, and upskilling the retailers.
NSDC:
- Founded: 2008
- Headquarters: New Delhi, India
Cabinet approves MoU between India and France on cooperation in the field of Digital Technologies
Union Cabinet has approved Memorandum of Understanding between India and France on cooperation in the field of Digital Technologies. The MoU intends to promote closer cooperation and exchange of information pertaining to digital technologies. India and France are long-standing strategic partners and they are committed to nurture a thriving digital eco-system and building collaboration that empowers their citizens and ensures their full participation in the digital century.
France:
- Capital: Paris
- President: Emmanuel Macron
- Prime Minister: Élisabeth Borne
- Currency: Euro (€) (EUR), CFP franc (XPF)
India and Tanzania sign 6 MoUs
India and Tanzania signed six MoUs in the field of Sports, Maritime Industry, Cultural Exchange, setting up Industrial Park in Tanzania, sharing successful digital solutions implemented at population scale for digital transformation and sharing White Shipping Information. India and Tanzania have agreed on a five year roadmap in the field of defence. Through this, new dimensions will be added in areas like military training, maritime cooperation, capacity building, and defense industry. He also expressed happiness that Tanzania has decided to join the Global Biofuels Alliance launched by India at the G20 Summit. Tanzania’s decision to join the International Big Cat Alliance will enable in strengthening global efforts for the conservation of big cats.
India and UAE sign strategic partnership agreement for developing and launching of UAE’s payment card scheme based on RuPay card
Union Commerce and Industry Minister Piyush Goyal is on a two-day visit to the United Arab Emirates (UAE). The two leaders also witnessed the signing of a strategic partnership agreement between National Payments Corporation of India (NPCI) and Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE for Domestic Card Scheme Implementation in UAE. As per the agreement, NPCI and AEP will work together to build, implement, and operationalize UAE’s national domestic card scheme modelled on India’s RuPay card. India and UAE are aiming to expand the bilateral trade to make it 100 billion dollar. Mr Goyal was speaking at a roundtable discussion hosted by the Abu Dhabi Chamber. This forum brought together top business leaders from both nations.
UAE:
- Capital: Abu Dhabi
- Currency: United Arab Emirates Dirham
- Prime minister: Mohammed bin Rashid Al Maktoum
- President: Mohammed bin Zayed Al Nahyan
DOT and NDMA collaborate to enhance emergency communication with Cell Broadcast Alert System testing
The DOT in collaboration with the National Disaster Management Authority (NDMA) will be conducting comprehensive testing of the Cell Broadcast Alert System. This initiative aims to bolster emergency communication during disasters and prioritize the safety and well-being of our esteemed citizens. Department of Telecommunications (DOT) is responsible for formulating developmental policies aimed at accelerating the growth of the telecommunications sector in India. The Cell Broadcast Alert System represents a cutting-edge technology that empowers us to disseminate critical and time-sensitive disaster management messages to all mobile devices within specified geographical areas, regardless of whether the recipients are residents or visitors.
