Current Affairs – August 2016
India’s first Nuclear Suppliers’ Insurance Policy unveiled by INIP August 13, 2016
India’s first Nuclear Suppliers’ insurance policy for ‘Right to Recourse’ was unveiled by India Nuclear Insurance Pool (INIP). The policy was unveiled by Atomic Energy Commission (AEC) chairman Sekhar Basu in Mumbai, Maharashtra. INIP is the 27th global nuclear insurance pool which was launched by state run General Insurance Corporation of India (GIC Re), in association with non-life insurance companies. New India Assurance Co (NIAC) and INIP will issue the policy and administer the claims on behalf of the pool. Earlier NIAC had issued a policy for the operators of nuclear power plants under INIP by underwriting premium to the tune of Rs 100 crore. What is India Nuclear Insurance Pool (INIP)? Indian Nuclear Insurance Pool (INIP) of 1,500 crore rupees was launched as per the mandatory provision under the Civil Liability for Nuclear Damage Act (CLND), 2010.
Union Government launches 1st phase of Smart Ganga City programme in 10 cities
10 Cities/Towns are Haridwar, Rishikesh, Mathura, Varanasi, Kanpur, Allahabad, Lucknow, Patna, Sahibganj and Barrackpore. Under this programme, Sewage Treatment Plants (STPs) and improve drainage network will be set up on hybrid annuity mode on public private partnership basis. In the hybrid annuity model, a part of capital investment (up to 40%) will be paid by Union Government through construction linked milestones.