• Nagaland Government Signed MoU with Patanjali Foods for Palm Oil Cultivation
Nagaland Government Signed MoU with
Patanjali Foods for Palm Oil Cultivation
Why In News
Nagaland government
has signed a Memorandum of Understanding (MoU) with Patanjali Foods Limited for
development and area expansion under palm oil cultivation.
Key Points
Nagaland government
has signed a Memorandum of Understanding (MoU) with Patanjali Foods Limited for
development and area expansion under palm oil cultivation and processing for
Zone-II (Mokokchung, Longleng, and Mon districts) of Nagaland under the
National Mission on Edible Oils-Oil Palm (NMEO-OP).
Nagaland Government
Signed MoU with Patanjali Foods for Palm Oil Cultivation- Key Points
The MoU was signed by
the Director of Agriculture, Nagaland, M Ben Yanthan, and Patanjali Foods Ltd
Head-NE Region, Oil Palm Subhas Bhattacharjee at the Directorate of
Agriculture, Kohima.
According to
Patanjali Foods Ltd, the signing of the MoU with the Government of Nagaland
will certainly bring a big boost for the oil palm growers in the state of
Nagaland and the region.
Patanjali Foods Ltd
is already working in the states of Mizoram, Arunachal Pradesh, Assam, and Tripura
in the North East.
Patanjali
Patanjali Ayurveda is
an Indian multinational conglomerate holding company based in Haridwar, India.
Patanjali is founded by Ramdev and Balkrishna in 2006. Ramdev and Balkrishna
established Patanjali Ayurveda in 2006. Patanjali Food and Herbal Park in
Haridwar is the company’s main production facility. The company manufactures
cosmetics, ayurvedic medicine, personal care, and food production.
Asset Repossession Module for Banks and NBFCs launched by Mobicule
Asset Repossession Module for Banks
and NBFCs launched by Mobicule
Why In News
Asset Repossession
Module for Banks and NBFCs: An industry first for banks and NBFCs, Mobicule, a
specialist in debt collection, has announced the release of its mCollect
Repossession module.
Key Points
In Mumbai, an
industry first for banks and NBFCs, Mobicule, a specialist in debt collection,
has announced the release of its mCollect Repossession module. As a component
of its debt collection and recovery product, the ground-breaking Asset
Repossession Solution is a comprehension solution that maps all the intricate
steps involved in the repossession of an asset.
Mobicule is a leader
in providing solutions that use mobile technologies to digitise processes and
increase productivity. As a result, the introduction of the mCollect
Repossession Module is seen as a logical progression of the company’s debt
collection platform.
The repossession
module will cover and fill in any holes in the entire process, including
identification, allocation, digitization and automation of the repo kit,
evidencing, yard submission, yard acknowledgment with evidencing, auction, and
release process.
Additionally, this
will assist lenders in adhering to strict and dynamic regulatory compliance
requirements and in-system tracking.
The extensively used
and current paper-based repossession processes will be digitised and integrated
as part of the mCollect recovery suite, which will provide real-time visibility
and process compliance.
This highly
adjustable but user-friendly product’s main objective is to turn potentially
painful encounters into methodical, traceable compassionate remedies.
One of the first
companies to enter the market for debt collection software, Mobicule has worked
with well-known and significant lenders.
With appropriate
fraud handling built into the platform, mCollect has demonstrated its capacity
to handle cash collection and receipting in rural areas.
The goal of mCollect
is to serve as a comprehensive one-stop platform for debt recovery, collection,
and monitoring.
The integration of
banks’ and NBFC’s digital, call centre, and field collection methods has been
made possible by Mobicule’s extensive domain expertise, in-person experience,
and technologically cutting-edge solution. mCollect’s machine learning models
with industry training help banks and NBFCs categorise consumers and forecast
their payment behaviour.
These actions have
decreased recovery expenses dramatically while increasing recovery
effectiveness.
mCollect Platform
The mCollect platform
uses machine learning and artificial intelligence technologies to reduce
delinquency, which still exists in the banking and NBFC industries. Due to its
many features, including allocation, digital collection, disposition, feedback
management, cash collection, and deposition, mCollect will be used when
consumers are discovered to be in default. If this option is not available, the
bank or NBFC can use repossession as a means of collecting unpaid debt,
avoiding substantial losses, and managing delinquency more effectively.
NIA Launched ‘Pay As You Drive’ Vehicle Insurance Policy
NIA Launched ‘Pay As You Drive’
Vehicle Insurance Policy
Why In News
NIA has launched a
‘Pay as You Drive’ (PAYD) policy, which offers a comprehensive motor insurance
policy that charges a premium based on the usage of the vehicle.
Key Points
New India Assurance
(NIA) has launched a ‘Pay as You Drive’ (PAYD) policy, which offers a
comprehensive motor insurance policy that charges a premium based on the usage
of the vehicle. The policy has two components- Third Party cover and own-damage
cover.
The policy comes with
various benefits. For instance, the customer can save money through discounts
on renewal premiums, provided the vehicle runs within the specified kilometers.
The discount applied
for the ‘Pay as You Drive’ is basic own damage premium.
In addition, the
coverage will continue for the policy’s remaining duration even if the vehicle
has been driven beyond the threshold limit.
India’s largest
non-life insurance firm informed that the clients could avail of a discount on
the renewal albeit at a lower applicable range.
New India Assurance
The New India
Assurance Co. Ltd is a central public sector undertaking under the ownership of
the Ministry of Finance, Government of India. It is based in Mumbai,
Maharashtra. It is the largest nationalized general insurance company in India
based on gross premium collection inclusive of foreign operations. It was
founded by Sir Dorabji Tata in 1919 and was nationalized in 1973.
Azad Engineering is India’s first supplier of Parts for Nuclear Turbines
Azad Engineering is India’s first
supplier of Parts for Nuclear Turbines
Why In News
Azad Engineering
Private Limited, a Hyderabad-based market leader in engineering, has been
approved as the first Indian company to supply critical rotating parts for
nuclear turbines.
Key Points
Azad Engineering
Private Limited, a Hyderabad-based market leader in engineering, has been
approved as the first Indian company to supply critical rotating parts for
nuclear turbines. The company has delivered its first set of critical parts.
These will be assembled on nuclear turbines manufactured in Belfort, France.
Azad Engineering has
signed a long-term supply agreement with General Electric (GE) Steam Power for
the supply of nuclear turbine parts.
They have signed a
long-term agreement with GE Steam Power to manufacture critical rotating parts
for nuclear turbines in one of the most stringent environments.
GE Steam Power
informed that it offers a broad portfolio of technologies and services for
power plants, helping customers deliver reliable power as they transition to a
lower carbon future.
The world is rapidly
moving towards generating energy from green and zero-emission clean energy
sources. At present, nuclear power is one of the most cost-effective, clean
zero-carbonized electricity sources. It is one of the best alternatives
available to coal-based power plants.
Azad Engineering, an
end-to-end solution provider, noted that it expects to deepen its relationship
as a preferred partner and continue to enjoy the flagship position with a new
facility coming up over the next 18-24 months.
India’s Haj quota for 2023 fixed at 1,75,025: Govt
India’s Haj quota for 2023 fixed at
1,75,025: Govt
Why In News
Under the Annual
Bilateral Agreement with Saudi Arabia for Haj pilgrimage this year, Govt has
restored the original Haj quota which stands at one lakh 75 thousand 25.
Key Points
Minority Affairs
Minister Smriti Irani has informed that the Government, under the Annual
Bilateral Agreement with Saudi Arabia for Haj pilgrimage this year, has
restored the original Haj quota which stands at one lakh 75 thousand 25.
Minister Ms Irani
added that in this direction the Ministry held a number of interactive sessions
on Haj management with the stakeholders, including Haj Committees of the States
and Union Territories wherein requests for restoration of Haj Quota were
received.
She said, the quota
earmarked for Haj Committee of India under the Annual Bilateral Agreement is
meant for pilgrims from various States and Union Territories for Haj this year.
The Minister said, the increase in Haj quota has now enabled the government to
send more pilgrims from States and UTs for Haj.
The quota earmarked
for Haj Committee of India (HCoI) under the Annual Bilateral Agreement is meant
for pilgrims from various states and UTs for Haj 2023.