Nagaland has become first state which have signed an MoU on disaster risk management

Nagaland has become first state which have signed an MoU on disaster risk management.
It has also become the first Indian state which has adopted the Disaster Risk Transfer Parametric Insurance Solution (DRTPS) after signing a MoU with SBI General Insurance.
The MoU will be effective for three years. The officials of SBI General Insurance and the Nagaland State Disaster Management Authority (NSDMA) signed the MoU.
It aims to lessen financial losses brought on by extreme events and safeguard vital infrastructure.
CM Neiphiu Rio stated that whole Nagaland is covered by the insurance. The insurance premium will be paid by the government.
In the event of a disaster, the insurer will provide assistance for three years from 2024 to 2027.
An MoU was signed between the Maharashtra government and Toyota Kirloskar Motor.
This MoU is to set up a manufacturing plant valued at Rs 20,000 crore in Aurangabad Industrial City (AURIC). The plant aims to produce electric and hybrid cars.