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Memorandum of Understanding Current Affairs December 3rd Week 2020

Mou Signed Between India And The USA:

An MoU between India and the United States was authorised by the Cabinet to share information on areas of shared interest in the electricity sector.
♦ The MoU was signed between India`s Central Electricity Regulatory Commission (CERC) and the United States` Federal Energy Regulatory Commission (FERC).
♦ The MoU would help to strengthen the regulatory and policy structure so that an efficient wholesale electricity market can be developed and grid reliability improved.
♦ The CERC is a statutory agency which operates under Sec 76 of the 2003 Electricity Act.
♦ Under the Electricity Regulatory Commission Act of 1998, it was originally established in 1998. 
♦ The Committee aims to foster competitiveness, productivity and economic activity in the bulk power market, to improve the quality of supply, to stimulate investment and to recommend to the Government that structural barriers be eliminated to bridge the gap between supply and demand, thereby promoting customer interests.
Some of the functions of CERC:
♦ Regulate electricity prices for companies owned or operated by the central government for power generation;
♦ Regulate electricity transmission between inter-state.
♦ Determine the price of electricity for inter-State electricity transmission.
♦ Charge fees for the purposes of the Act.
♦ Specify the grid code according to the grid standard;
♦ Specify and enforce standards for the quality, consistency and efficiency of services rendered by the licensee;
♦ When necessary, determine the transaction margin in the inter-state power transaction;
♦ Some advisory roles are also carried out by CERC, such as the formulation of National Electricity Policies and Tariff Policies.
Indian Army signs MoU with Bank of Baroda for new Baroda Military Salary Package:
A Memorandum of Understanding (MoU) for the Baroda Military Salary Package was signed by the Indian Army and the Bank of Baroda. Lt Gen Ravin Khosla, DG(MP&PS) and Shri Vikramaditya Singh Khichi, Executive Director of Bank of Baroda, have signed the MoU. The MoU lays down the basis on which the Bank of Baroda will provide banking services to serving and retired Indian Army personnel.
♦ Services under the Baroda Military Salary Plan will be provided through the Bank`s network of over 8,200 domestic branches and over 20,000 company correspondent touchpoints to serving and retired Indian Army personnel.
♦ The plan would include very attractive benefits, including free personal accident insurance coverage, permanent complete disability coverage, partial disability coverage and large amounts of air accident insurance coverage, and Higher Education Cover and Girl Child Marriage Cover on death in the case of serving workers.
♦ Other deals under the bundle will include unlimited free ATM transactions at all bank ATMs, waivers or concessions on different retail loan service charges, free RTGS/NEFT remittance facility, free Demand Draft/Cheque, Banker`s significant locker rental discounts, and numerous additional card use benefits.
A Virtual Summit Between India and Bangladesh:
A virtual summit was organised by the Prime Ministers of India & Bangladesh. There were detailed consultations between the two sides on all aspects of bilateral ties and exchanges of views on regional and international issues.
MoUs and agreements were signed on:
♦ Cooperation in the field of Hydrocarbon Sector.
♦ India grants assistance through local bodies and other public sector agencies to undertake high-impact community development projects.
♦ Protocol on Transboundary Elephant Conservation
♦ Provide equipment and develop the waste/solid waste disposal ground at Barishal City Corporation`s Lamchori field.
♦ Cooperation in the field of Agriculture
♦ MoU between the National Museum, New Delhi, India and the Father of the Nation Bangabandhu Sheikh Mujibur Rahman Memorial Museum, Dhaka, Bangladesh 
♦ Terms of reference of the Bangladesh - India CEO`s Forum

World Bank Signs $500 Million Project to Develop Green NH Corridors:

The Government of India (GoI) and the World Bank have signed a $500 million project in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh to build secure and green national highway corridors. The purpose of the project is to improve the capacity of the Ministry of Road Transport and Highways (MoRTH) to combine safety and green technology.
♦ The Green National Highways Corridors Project will help MoRTH to develop 783 km of highways in different geographies by combining healthy and green technology models, such as local and industrial by-products, marginal materials, and other bioengineering solutions, in compliance with the project agreement. 
♦ The project would help to minimise GHG emissions from highway building and maintenance.
♦ The transport infrastructure is aimed at providing smooth connectivity and reducing the cost of logistics.
♦ In order to enhance and boost the efficiency of logistics, the Government of India has initiated several investment programmes in infrastructure in the road sector. 
♦ The project will help analytics on the National Highway network to map freight volume and movement trends, provide creative logistics solutions and identify constraints.
♦ In the states of Uttar Pradesh, Andhra Pradesh, Rajasthan and Himachal Pradesh, the selected stretches will also help to boost connectivity and encourage economic growth.

Memorandum of Understanding Current Affairs December 3rd Week 2020

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