Current Affairs 15 September 2021

We are here for you to provide the important Recent and Latest Current Affairs 15 September 2021, which have unique updates of Latest Current Affairs 2021 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

Our Current Affairs September 2021 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Latest Current Affairs Quiz and Monthly Current Affairs 2021 PDF which will be a pedestrian to crack your exams.

Read Current Affairs in CareersCloud APP, Course Name –  Learn Current Affairs – Free Course – Click Here to Download the APP

We are Hiring – Subject Matter Expert | CA Video Creator | Content Developers(Pondicherry)

NATIONAL AFFAIRS

Union minister Nitin Gadkari launched ‘iRASTE’ Road Safety Project to Reduce Road AccidentsThe Union Minister for Road Transport, Nitin Gadkari launched ‘ iRaste- a two year pilot project in Nagpur, Maharashtra. It is a collaborative project, developed by Intel India, International Institute of Information Technology, Hyderabad (IIIT-H), Council of Scientific & Industrial Research (CSIR) – Central Road Research Institute (CRRI), Mahindra and Mahindra and  Nagpur Municipal Corporation (NMC).It stands for Intelligent Solutions for Road Safety through Technology and Engineering.
Objective– To enhance road safety and reduce road accidents in Nagpur.
iRASTE
It utilizes Artificial Intelligence (AI) technology to provide better results.
The initiative will bring down 50 percent of road accidents. Later it will be extended to other cities as well.
Key focus
It focuses on three important areas- vehicle safety, mobility analysis and road safety Infrastructure.
Mechanism
i.The NMC vehicles would be equipped with Advanced Driving Assistance Systems (ADAS). The system will give alerts to drivers and help in improving performance. It also consists of a Collision Avoidance System (CAS) .
ii.A mobility analysis will be derived that will monitor the road networks and predict risk assessments. By defining Grey and Black spot areas that are high risk or accident prone.
iii.Technical guidance is provided by CSIR- CRRI. It has completed a road safety audit of around 9000 km.
iv.While Intel India will provide ADAS technology, IIIT Hyderabad will address population scale road safety through INAI (Intel AI) Center for Advanced AI research. Mahindra & Mahindra will conduct road safety, public awareness programmes and driver training.
Additional information–
Satish Paresh is appointed as the President of International Road Federation (IRF). Previously, he was working as the Managing Director of Ashoka Buildcon.  He succeeded Subhmay Gangopadhyay, the former Director of CRRI.
About International Road Federation (IRF) 
Headquarters- Geneva, Switzerland

Highlights of US climate envoy John Kerry’s visit to India from Sep 12-14i.The United States (US) Special Presidential Envoy for Climate John Kerry was on a two day visit to India on September 12-14, 2021. The focus of the visit was to meet with Government of India counterparts and private sector leaders to discuss efforts to raise global climate ambition and speed India’s clean energy transition.
ii.In this regard, bilateral meet was held where both sides discussed wide range of climate issues relating to Conference of the Parties (COP26), Climate Ambition, Climate Finance, Global Climate Initiatives including International Solar Alliance (ISA), Agriculture Innovation Mission for Climate (AIM4C).
iii.During his visit, India-US the Climate Action and Finance Mobilization Dialogue (CAFMD) was also launched.
About United States (US):
Capital– Washington, D.C.
Currency– US Dollar
>>Read Full News

India leases Dornier aircraft to Mauritius to enhance maritime securityIndia handed over Indian Navy’s Dornier aircraft to Mauritius on lease as part of Vision SAGAR (Security and Growth for All in the Region) for enhanced maritime security of the Indian Ocean region (IOR), on September 13.

• India and Mauritius exchanged the contract for the purchase of a new Dornier aircraft under Line of Credit (LOC).

Through Vision SAGAR
India unveiled Vision SAGAR in 2015.
i.India seeks to increase its relation. with maritime neighbours to deepen economic, security cooperation and build their maritime security capabilities.
ii.India promises to cooperate on information exchange, coastal surveillance and building infrastructure.
Note – Another `Mission Sagar’ Launched on 10 May, was India’s initiative to deliver Covid-19 related assistance to the countries in the Indian Ocean Littoral states.
About Mauritius
Mauritius is an island nation located in Indian Ocean
Capital: Port Louis
Currency: Mauritian rupee
Prime Minister: Pravind Jugnauth

INTERNATIONAL AFFAIRS

India–Africa Defence Dialogue (IADD) to be held alongside every DefExpo; 2^nd IADD to be held in 2022On September 13, 2021, the Central Government of India proposed to institutionalize the India Africa Defence Dialogue (IADD) during successive DefExpos to be held biennially.

• In this regard, Manohar Parrikar Institute for Defence Studies and Analyses (MP-IDSA), New Delhi will act as the knowledge partner of IADD and will provide necessary support for enhanced defence cooperation between the both nations.

Key Points:
i.As a follow-up with the above proposal, the 2^nd IADD will be held in 2022 on the sidelines of the DefExpo that is scheduled to be held at Gandhinagar, Gujarat in March 2022. It will be hosted by Union Minister Rajnath Singh, Ministry of Defence (MoD) on the theme ‘India – Africa: Adopting Strategy for Synergizing and Strengthening Defence and Security Cooperation’.
ii.Indo-Africa defence relations are based on the two guiding principles viz. ‘SAGAR-Security and Growth for All in the Region’ and ‘Vasudhaiva Kutumbakam-The World is One Family’.
How will this dialogue be helpful?
It will boost the existing partnerships between African countries & India and will explore new areas of convergence for mutual engagements which include capacity building, training, cyber security, maritime security and counter terrorism.
Background:
The above decision has been taken on the sidelines of ‘Lucknow Declaration’ that was adopted during the 1^st India Africa Defence Ministers Conclave (IADMC) or IADD in Lucknow, Uttar Pradesh in conjunction with DefExpo on February 6, 2020. It was co-organised by MoD and Ministry of External Affairs (MEA).
About Ministry of Defence:
Rajnath Singh Constituency– Lucknow, Uttar Pradesh
Minister of State (MoS)– Ajay Bhatt (Constituency – Nainital–Udhamsingh Nagar, Uttarakhand)

Climate Change Makes 216 Million People into Migration by 2050: World Bank The World Bank released the updated Groundswell report “Groundswell Part 2: Acting on Internal Climate Migration” on 13th September 2021. According to the report, Climate Change could force more than 216 million people from across 6 regions(South Asia; Latin America; Sub-Saharan Africa; East Asia and the Pacific; North Africa; and Eastern Europe and Central Asia) to migrate from their own countries by 2050.

• The report acts as a reminder of the effects of human activity on climate change, especially on the world’s poorest.
• It also states the various paths for the nations to address the major factors that cause climate-driven migration.
• The updated report has included 3 new regions(Eastern Europe and Central Asia, North Africa and East Asia and the Pacific) to provide a “global estimate” of the potential migration.

Gist of the report:
i.The report states that the hotspots of internal climate in and out-migration can emerge as early as 2030 and grow and intensify by 2050.
ii.The report also finds that immediate actions to reduce the global greenhouse gas emissions and to ensure inclusive and resilient development is essential can reduce the effects of internal climate migration by around 60-80 %.
iii.According to the report, by 2050, sub-Saharan Africa will have 85.7 million internal climate migrants (4.2 % of the total population); East Asia and the Pacific, 48.4 million (2.5 % of the total population); South Asia, 40.5 million (1.8 % of the total population); North Africa, 19.3 million (9.0 % of the total population); Latin America, 17.1 million (2.6 % of the total population); and Eastern Europe and Central Asia, 5.1 million (2.3 % of the total population).
iv.Sub-Saharan Africa will have the largest number of internal climate refugees by 2050.
Click here for the Groundswell Part 2
About World Bank:
The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF).
President–  David R. Malpass (13th President)
Headquarters–  Washington DC, United States of America

IIM Ahmedabad Adjudged as Best B-School in India: QS Global MBA Rankings: Global 2022The QS Global MBA Rankings: Global 2022, released by Quacquarelli Symonds(QS), has adjudged the Indian Institute of Management (IIM) Ahmedabad, Gujarat as the best business school(B-school) in India. The IIM Ahmedabad has achieved the 46th rank on the list which features around 280 business schools from across the globe. The list is topped by Stanford Graduate School of Business, Stanford, California, United States of America(USA).

• IIM Bangalore (ranked 50) and IIM Ahmedabad are the only Indian Institutes among the top 50.
• Stanford Graduate School of Business topped the list followed by Harvard Business School and Penn (Wharton), which jointly secured the 2nd Rank.

QS Business Masters Rankings 2022:
QS World University Rankings: Business Masters Rankings 2022 ranks the Masters in Business Analytics, Masters in Finance, Masters in Management, Masters in Marketing and Masters in Supply Chain Management.
About Quacquarelli Symonds (QS):
QS is the world’s leading provider of services, analytics, and insight to the global higher education sector.
CEO– Nunzio Quacquarelli
Headquarters– London, England
Founded in 1990
>>Read Full News

BANKING & FINANCE

RBI announces opening of 3^rd cohort under RS; 6 entities completed test phase in 1st Cohort & 8 selected for 2^nd i.On September 13, 2021, the Reserve Bank of India (RBI) announced the opening of the 3^rd cohort under the Regulatory Sandbox (RS) on the theme ‘MSME Lending‘. The eligible entities can submit their application from October 01, 2021 to November 14, 2021.
ii.The theme for 1^st cohort (November 2020) was ‘Retail Payments‘ while for 2^nd cohort (December 2020) it was ‘Cross Border Payments‘.
iii.The apex also announced that six entities have completed the test phase of the 1^st cohort on retail payments including Nucleus Software Exports, Tap Smart Data Information Services Natural Support Consultancy Services, Naffa Innovations, Ubona Technologies, and Eroute Technologies
About Reserve Bank of India (RBI):
Establishment– April 1, 1935
Headquarters– Mumbai, Maharashtra
Governor– Shaktikanta Das
Deputy Governors– Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
>>Read Full News

IRDAI Issues Composite Broking Licence to HIBIPL; Selling & Renewal Of Short-term COVID-19 Insurance Policies Permitted Till March 2022A Composite Broking Licence from the Insurance Regulatory and Development Authority of India (IRDAI) is being provided to Hero Insurance Broking India. It will allow the firm to offer reinsurance broking and risk management consultancy services to corporate clients.
About Reinsurance broking-
A reinsurance broker is an intermediary individual or firm who is paid a fee or commission to find and place new business on behalf of both the insured client and insurer.
IRDAI Permits Insurers To Sell & Renew short term COVID-19 policies
The specific health insurance policies are permitted to sell till March 2022.
The exemptions granted general insurers for issuance of electronic policies as well as dispensing with physical documents and wet signatures have been extended up to end-March 2022.
About Hero Insurance Broking India limited
Principal Officer– Sanjay Radhakrishnan
Headquarters- New Delhi
About Insurance Regulatory and Development Authority of India (IRDAI)
Founded- 1999
Headquarters– Hyderabad, Telangana
>>Read Full News

 Govt appointed 10 Merchant Bankers For Managing IPO of LIC  The Government of India has appointed 10 merchant bankers for managing Initial Public Offering (IPO) of Life Insurance Corporation (LIC). The IPOs of LIC will be launched in the month of January to March 2022.

• The name of the 10 merchant bankers are: Goldman Sachs (India) Securities; Citigroup Global Markets India; Nomura Financial Advisory and Securities India; SBI Capital Market; JM Financial; Axis Capital; BofA Securities; JP Morgan India; ICICI Securities; Kotak Mahindra Capital Co Ltd.

Key points
i.The work of merchant bankers in the case of IPOs is management of  Promotional activities, Credit syndication, Project counselling, and Portfolio management, etc.
ii.These merchant banks will form a coalition and give advice to the Department of Investment and Public Asset Management (DIPAM) on timing and floor prices for the IPOs.
iii.The government also has selected Concept Communications as their advertising agency and Kfintech as the Registrar and Share transfer agent of the IPO.
About Initial Public Offering (IPO)

• IPO is the selling of securities to the public in the primary market.
  Primary market deals with new securities being issued for the first time. It is also known as the new issues market.
• It is different from the secondary market where existing securities are bought and sold. It is also known as the stock market or stock exchange.

About Life Insurance Corporation of India (LIC)
Established– 1956
Chairman- M R Kumar
Managing Director- Pankaj Jain, M K Gupta, Raj Kumar, Siddhartha Mohanty, Ipe Mini

SBI Raised Rs 4000 crore through AT1 bonds at Coupon of 7.72%

State Bank of India(SBI) has raised Rs 4000 crores through the Basel Compliant Additional Tier 1 (AT1) bonds at a coupon rate of 7.72%, the lowest pricing ever offered on such debt, issued by an Indian bank since the implementation of Basel III capital rules in 2013.

• This is the first AT1 bond issuance in the domestic market since the implementation of new SEBI regulations.
• The offered AT1 is rated AA+, which is the highest rating in the country for these instruments in view of the hybrid and high-risk nature of these instruments.

ECONOMY & BUSINESS

AM/NS India, NSIC signed MoU to support MSMEs in Steel SectorArcelorMittal Nippon Steel India (AM/NS India) has signed a Memorandum of Understanding(MoU) with National Small Industries Corporation (NSIC) to provide critical steel products to the Micro, Small & Medium Enterprises(MSMEs) in the steel sector.

• This is a first of its kind MoU signed by NSIC with a private steel company.
• The MoU was signed by Ranjan Dhar, Chief Marketing Officer of AM/NS India, and P. Udayakumar, Director (Planning & Marketing) of NSIC.

Features of the MoU:
i.The team of AM/NS India and NSIC will develop a network to deliver critical products to the  MSME segments.
ii.Under this MoU, NSIC will provide access to its marketing network and infrastructure and provide financial support to market AM/NS India products to the relevant markets.
iii.Through this Partnership, MSME customers will avail special pricing determined by the NSIC, AM/NS India and prevailing market conditions.
About National Small Industries Corporation (NSIC):
NISC is a certified Government enterprise under the Ministry of Micro, Small and Medium Enterprises (MoMSME).
CMD– Vijayendra
Headquarters– New Delhi
Established in 1955
About ArcelorMittal Nippon Steel India (AM/NS India):
AM/NS India, a joint venture between ArcelorMittal and Nippon Steel, is an integrated flat carbon steel manufacturer.
CEO– Dilip Oommen
Headquarters– Surat, Gujarat

APPOINTMENTS & RESIGNATIONS          

Justice M Venugopal Appointed as Acting Chairperson of NCLATJustice M Venugopal, Judicial Member of the NCLAT (Chennai bench of NCLAT), has been appointed as the acting chairperson of the National Company Law Appellate Tribunal (NCLAT), with effect from 11th September 2021.

• He is the 3rd Acting chairperson to head the NCLAT since the retirement of Chairperson Justice S J Mukhopadhaya on 14th March 2020.
• Previously Justice Bansi Lal Bhat and Justice AIS Cheema served as the acting chairpersons of NCLAT between March 2020 and September 2021.

Note:
The government of India has appointed 31 members to the NCLT (National Company Law Tribunal) and the ITAT (Income Tax Appellate Tribunal).
About Justice M Venugopal:
i.Justice M Venugopal is a former judge of the High court of Madras.
ii.He started as a Sub Judge in Tamil Nadu State Judicial served in 1997 and was later elevated to the High court of Madras in 2007.
iii.He has served as the Judicial Member of NCLAT, Principal Bench, New Delhi from October 2019 and later moved to the Chennai Bench of NCLAT in January 2021.
About National Company Law Appellate Tribunal (NCLAT):
The NCLAT was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of the NCLT.
Acting Chairperson– Justice M Venugopal
Headquarters– New Delhi
Established on 1st June 2016

SCIENCE & TECHNOLOGY

India launched its 1^st Satellite & Nuclear Missile Tracking Ship INS Dhruvi.India has launched its first satellite and nuclear-missile tracking ship INS (Indian Naval Ship) Dhruv. It is the first of its kind ocean surveillance ship (OSS) that is capable of tracking ballistic missiles at a long-range.
ii.It was launched by National Security Advisor Ajit Doval in the presence of Chief of Naval Staff Admiral Karambir Singh from Visakhapatnam (Andhra Pradesh), its commission site.
iii.It is built by the Hindustan Shipyard Limited (HSL) in collaboration with the DRDO (Defence Research and Development Organisation) and NTRO (National Technical Research Organisation).
About Hindustan Shipyard Limited (HSL)
Establishment– 1952
Chairman & Managing Director (CMD)– Hemant Khatri
Parent Ministry– Ministry of Defence
Headquarter– Visakhapatnam, Andhra Pradesh
>>Read Full News

Remotely Piloted Aircraft System (RPAS) Inaugurated at MCL of 1st of Its Kind in CIL

In a first, in Coal India Ltd. (CIL) under the Ministry of Coal, an innovative Remotely Piloted Aircraft System (RPAS) was inaugurated at Mahanadi Coalfields Ltd (MCL) to remotely monitor automated systems.

• Designed by the MCL’s Innovation Cell and the Department of E&T, the portal named “Vihangam’  was created by a Mumbai-based start-up of drone manufacturing, robotics and automation.
• RPAS will enable real-time monitoring of coal mines with the use of drones.
• Pramod Agrawal, Chairman of CIL also laid the foundation stone for Rs 285.05 crore first mile connectivity (FMC) project — Lajkura SILO.

SPORTS

Eight esports included in medal events at 2022 Asian GamesFor the first time in Asian games, eight electronic sports (esports) are included in the medal events at the 19th Asian Games 2022 which are going to be held in Hangzhou, China. The games will start from September 10, 2022 and continue till September 25.

• The Olympic Council of Asia (OCA) announced the titles for the debut of esports.
• It includes eight medal events and two demonstration games.

List of esports 

• Arena of Valor Asian Games Version
• Dota 2
• Dream Three Kingdoms 2
• EA SPORTS FIFA branded soccer games
• HearthStone
• League of Legends
• PUBG Mobile Asian Games Version
• Street Fighter V

Demonstration events

1. AESF Robot Masters-Powered by Migu
2. AESF VR Sports-Powered by Migu

Additional information

1. Hong Kong based Asian Electronic Sports Federation (AESF) is appointed as the technical delegate of the esports competition.
2. The AESF will manage and operate esports competition in Hangzhou.
3. Earlier, esports were introduced in South Asian Games 2019 which took place in the Philippines.

India leads in Test Series against England India lead in the 5-match Test Series against England by winning 2 of the 4-matches played and drawing the 1st match, that was held between 4th August and 6th September 2021, in England.The Fifth match of the series was cancelled due to COVID-19 outbreak among 4 of the Indian crew members.
Virat Kohli – Fastest Cricketer to reach 23,000 International runs
During the Test series, Virat Kohli broke the long-standing record of Sachin Tendulkar to become the fastest to score 23,000 international runs in Cricket.
Jasprit Bumrah becomes Fastest Indian to take 100 Test wickets
During the 4th Test, Indian fast bowler, Jasprit Bumrah became the fastest Indian bowler to take 100 test wickets. He achieved this in just 24 games, surpassing Kapil Dev, who reached the mark in 25 Test matches.
About International Cricket Council (ICC):
Chairman – Greg Barclay (New Zealand)
Headquarters – Dubai, UAE
>>Read Full News

OBITUARY

Former Union Minister Oscar Fernandes Passed Away in KarnatakaFormer Union Minister and Congress leader Oscar Fernandes passed away in Mangaluru, Karnataka. He was 80 year old.
About Oscar Fernandes
i.He was born in March 27, 1941 Udupi district of Karnataka.
ii.Fernandes was also a trained performer of Yakshagana, the traditional art form of coastal Karnataka.
iii.Political Career- He has served as the Union Cabinet Minister for Transport, Road and Highways during the time of  2013-14. He was elected as the Member of Parliament (MP) in Lok Sabha from Udupi constituency during 1980-1996 and MP of Rajya Sabha during 1998-2021 from Karnataka constituency.
iv.During the same time, he was provided additional charge of the Ministry of Labour and Employment.
v.He has also served as the Chairman of the Central Election Authority of the All India Congress Committee (AICC).
vi.He is the founder of the ” Jolly Club” NGO. The NGO provides library room facilities for the youth.
vii.He was the Director of the Young Indian and Director of the Associated Journals Private limited.

Former Indian footballer and Mohun Bagan captain Bhabani Roy passed away
Former India international football player and Mohun Bagan legend Bhabani Roy, 75, died in Kolkata following a prolonged illness.
Sports career

• Roy joined Mohun Bagan in 1966 and played for the club till 1972.
• He made his international debut in the Merdeka Cup in 1969 and represented Indian national team in three matches.
• Roy known for his overlapping skills, flourished in 1969 under Amal Dutta’s coaching and the same year Mohun Bagan won the Calcutta Football League and the IFA Shield.

Trophies
i.Roy guided his club to win the Rovers Cup in 1968, 1970, 1971, 1972 (joint-winners).
ii.Dr HK Mookherjee Shield in 1968 and 1969 (joint-winners).
iii.Amrita Bazar Patrika Centenary Trophy and the Babu Kunwer Singh Shield in 1968.
iv.Nehru Trophy in 1970.
Additional information
Mohun Bagan Athletic Club is an Indian professional sports club based in Kolkata, West Bengal.
It was founded in 1889.

BOOKS & AUTHORS

Dr Bharati Pravin Pawar Inaugurated the Digital Population Clock at IEG

Dr Bharati Pravin Pawar, Minister of State(MoS), Ministry of Health and Family Welfare(MoHFW), inaugurated a digital population clock at the Institute for Economic Growth(IEG) inside the University of Delhi.

• She also launched a book titled ‘Infant and Child Mortality In Assam – Demographic and Socio-Economic Interrelations’ written by Dr Dipanjali Haloi and Dr Suresh Sharma and a Health Management Information System (HMIS) Brochure during the event.
• She presided over the seminar on “Population, Human Capital and Sustainable Development”.

IMPORTANT DAYS

National Hindi Diwas 2021 – September 14National Hindi Diwas is annually observed across India on September 14th to commemorate the adoption of Hindi in the Devanagari Script as one of the official languages of India.
The day aims to promote the progressive use of Hindi and for the enrichment and promotion of the Hindi Language.
Background:
i.The government of India led by Prime Minister Jawaharlal Nehru declared the 14th September of every year as the Hindi Diwas to highlight the significance of the day on which Hindi became one of the official languages of India along with English.
ii.The day also marks the birth anniversary of the acclaimed Hindi Stalwart, Beohar Rajendra Simha, the illustrator of the original final manuscript of the Constitution of India
Hindi Pakhwada 2021 – 1st to 15th September:
The Films Division,  under the Ministry of Information & Broadcasting(MIB), has been observing Hindi Pakhwada from 1st September 2021 to 15th September 2021 to encourage the use of practical Hindi among the officers and officials.
About Ministry of Information & Broadcasting(MIB):
Union Minister– Anurag Singh Thakur(Constituency- Hamirpur, Himachal Pradesh)
Minister of State– Dr. L. Murugan
>>Read Full News

Telangana Language Day 2021 – September 9 The Telangana Language Day is annually celebrated across the state of Telangana on September 9th to mark the birth anniversary of eminent Telangana poet, Padma Awardee Kaloji Narayana Rao. 
i.The state of Telangana celebrates the Telangana language day as “Telangana Bhasha Dinosthavam”.
ii.9th September 2021 marks the 107th birth anniversary of Kaloji Narayana Rao.
Background:
In 2014, K Chandrasekhar Rao, Chief Minister(CM) of Telangana declared the 9th September of every year as the Telangana Language Day or Telangana Bhasha Dinosthavam to honour the Telangana poet Kaloji Narayana Rao.
About Kaloji Narayana Rao:
i.Kaloji Narayana Rao is a poet and freedom fighter who has contributed to the promotion of the culture of Telangana.
ii.He was born on 9th September 1914 in the village of Rattihalli, Karnataka.
iii.The government of India honoured him with the Padma Vibhushan in 1992 for Arts.
Kaloji Smaraka Puraskaram award 2021:

• The government of Telangana has honoured Poet Penna Sivaramakrishna with the Kaloji Smaraka Puraskaram award 2021 for his contribution to the various genres of modern Telugu literature.
• The Kaloji Smaraka Puraskaram award, named after poet and freedom fighter Kaloji Narayana Rao was instituted by the government of Telangana in 2015.

STATE NEWS

DP World signed MoU with TN Govt for Rs 2000 crore projectsThe government of Tamil Nadu (TN) signed a Memorandum of Understanding (MoU) with Dubai-based DP World for an investment of Rs 2000 crore to establish a series of projects in Tamil Nadu.
The MoU was signed in the presence of MK Stalin, Chief Minister(CM) of Tamil Nadu(TN) and officials of DP world.
Features of MoU:
i.The proposed investment of DP world will be used to establish container terminal, cold storage and seafood processing zone and Free trade zone with integrated rail siding, minor ports in the Eastern Coast of TN and Inland Container Depots (ICDs) in Erode, Karur and Tirupur.
ii.These projects are estimated to create job opportunities for more than 4500 people which includes 1500 direct and 3000 indirect.
Additional info:
i.In 2019, DP World signed an MoU with the TN Government to invest Rs 1000 crore in establishing a free trade warehousing zone (FTWZ) and Integrated Chennai Business Park (ICBP) in Vallur, Ponneri Taluk, Tiruvallur District.
ii.The FTWZ was inaugurated in July 2021.
About DP World:
Group Chairman & CEO– H.E. Sultan Ahmed Bin Sulayem
Headquarters– Dubai, United Arab Emirates
Incepted in 1972

*******

Click Here View – AC Excluded News 2021

Current Affairs Today (AffairsCloud Today)