Steel Research & Technology Mission of India (SRTMI)

Q.  Which of the following is/are true regarding Steel Research & Technology Mission of India (SRTMI)?

1) SRTMI is an industry driven initiative which has been setup Ministry of Steel as governing body.
2) Entire initial corpus for SRTMI will be provided by Ministry of Steel.
- Published on 18 Nov 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Neither 1 nor 2
 
Ministry of Steel is facilitating an Industry driven institutional mechanism namely Steel Research & Technology Mission of India (SRTMI), to facilitate joint collaborative research projects in the iron & steel sector in India. The salient features of SRTMI are as under:
  • SRTMI is an industry driven initiative which has been setup as a Registered Society wherein Ministry of Steel is a facilitator.
  • SRTMI will be governed and administered by a Governing Body comprising the steel CEOs, Domain Experts and a representative of Ministry of Steel.
  • The executive functioning of SRTMI will be carried out by the Director, SRTMI, who will be assisted by a suitable/appropriate supporting structure.
  • Initial corpus for setting up of SRTMI is Rs. 200 crore of which 50% is to be provided by Ministry of Steel and the balance by the participating steel companies.
  • Thereafter, the centre will run on yearly contributions from the steel companies based on their turnover of the previous year.

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