Current Affairs - Business

Mahindra & Mahindra Ltd signed an MoU with the Ministry of Skill Development and Entrepreneurship (MSDE) for the 'Drone Didi' Pilot Project, aimed at empowering women in agriculture through drone technology. This collaboration signifies a strategic effort to create new livelihood opportunities and enhance skills in emerging technology sectors, particularly benefiting rural women farmers.

Hinduja Group's IIHL has received approval from IRDAI to acquire Reliance Capital's insurance arms, comprising Reliance General Insurance and Reliance Nippon Life Insurance. This acquisition is part of a substantial resolution plan worth Rs 9,650 crore. The IRDAI approval, obtained on May 10, 2024, is a crucial regulatory milestone, paving the way for the transfer of Reliance Capital's insurance businesses to IIHL and reinforcing the acquisition process.

TCS, along with Tejas Networks and government-owned ITI, has secured orders worth approximately Rs 19,000 crore from BSNL for deploying its indigenous 4G network across India. This initiative is part of BSNL's plan to enhance its services and upgrade its network infrastructure to support advanced technologies like 5G in the future.

Hindalco Industries, a leading industry group, has collaborated with the Indian Coast Guard (ICG) to promote the manufacturing and supply of indigenous marine-grade aluminium for shipbuilding. This collaboration formalized through a Memorandum of Understanding (MoU), aims to enhance India's self-reliance in the shipbuilding sector and support coastal security operations by providing high-quality aluminium for constructing ships designed for shallow water operations.

Adani Green Energy has signed a 20-year power purchase deal for wind power stations with Sri Lanka, as approved by the Sri Lankan government. This agreement reflects the company's engagement in renewable energy projects in Sri Lanka.