Current Affairs - Finance - Discussion

Nagaland and SBI General Insurance signed an MoU to implement the Disaster Risk Transfer Parametric Insurance Solution (DRTPS). This makes Nagaland the first state in India to adopt such a solution, which aims to protect critical infrastructure and mitigate economic losses from disasters, including floods, droughts, mudslides, and damage to property and crops. The agreement covers a three-year period from 2024 to 2027, highlighting the state’s proactive approach to disaster management.