The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has been apprised of the signing of the Memorandum of Understanding (MoU) of Cooperation between Technology Development Board (TDB), Department of Science & Technology, Govt. of India and Bpifrance, a Public Investment Bank, France. The agreement will ensure exchange of best practices and setting up of coordinated measures to foster technological exchanges in the field of Science, Technology and Innovation through collaboration between companies, organizations and institutions of France and India. The exchanges under it will be through collaboration between companies, organizations and institutions of France and India.The agreement aims to carry out activities related to exchange of best practices in the field of Science & Technology through the Technology Development Board and Bpifrance. TDB is a statutory body established under Technology Development Board Act, 1995. Its mandate is to promote development and commercialisation of indigenous technology and adaptation of imported technology for wider application.It consists of 11 Board members. The board plays a pro-active role by encouraging enterprises to take up technology oriented products. The Union Government had reconstituted the board in March 2000. It is the first organization of its kind within the government framework with the sole objective of commercializing the fruit of indigenous research. It provides financial assistance to research and development institutions and equity capital or loans to industrial concerns. The loan carries a simple interest rate of 5% per annum.