Government of India & NDB Sign Agreement for USD 500 Million

Shankar School of Banking November 20 , 2020 34


First-ever India-Luxembourg Virtual Summit held

  • The Prime Minister of India Narendra Modi and his Luxembourg counterpart Prime Minister Mr. Xavier Bettel held Virtual Summit on 19 November 2020.
  • The talks during the summit based on shared principles and values of democracy, freedom, rule of law, and respect for human rights.
  • Three agreements were signed during the summit.
  • Two MoU signed by Luxembourg Stock Exchange with India International Exchange (India INX) and State Bank of India to provide cooperation in financial services industry.
  • Another MoU between Invest India and Luxinnovation for Supporting and developing mutual business cooperation between Indian and Luxembourg companies.


$120 million loan signing between Government of India and the World Bank

  • The Government of India, the Government of Meghalaya and the World Bank today signed a $120 million project to improve and modernise the transport sector of state of Meghalaya.
  • The project will improve about 300 km of strategic road segments and stand-alone bridges by using innovative, climate resilient, and nature-based solutions.
  • It will position Meghalaya as a major connecting hub for international trade through the Bangladesh, Bhutan, India, and the Nepal Corridor.
  • The $120 million loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 14 years including a grace period of 6 years.

Fact: Capital of Meghalaya – Shillong

          Chief Minister of Meghalaya - Conrad Kongkal Sangma

          Headquarters of World Bank - Washington, D.C., United States


Government of India & NDB Sign Agreement for USD 500 Million

  • The Government of India, the Ministry of Housing and Urban Affairs, National Capital Region Transport Corporation Limited and the New Development Bank (NDB) signed a loan agreement of USD 500Million.
  • The agreement is signed for the ‘Delhi-Ghaziabad-Meerut Regional Rapid Transit System Project’ to provide fast, reliable and comfortable public transport system in the National Capital Region (NCR).
  • The total project cost estimated at USD 3,749 million, in which the NDB will finance USD 500million.
  • The balance amount will be given by Asian Infrastructure Investment Bank  (USD 500 million), Asian Development Bank  (USD 1,049 million), Japan Fund for Poverty Reduction (USD 3 million), and Government and Other sources (USD 1,707 million).

Fact: Headquarters of NDB - Shanghai, China


BSF organizes Para-Cycling expedition ‘Infinity Ride 2020’

  • Border Security Force (BSF) is organizing a Para-Cycling expedition “Infinity Ride 2020", in association with Aditya Mehta Foundation.
  • The expedition commenced from Srinagar today and will culminate at Southern tip of India at Kanyakumari Tamil Nadu on 31st December this year.
  • Aditya Mehta Foundation (AMF) has been a pioneer in raising awareness about para-sports in every nook and cranny of India.
  • The expedition is a part of national campaign to psychologically empower BSF’s operational amputees and other Divyangjan (specially abled).



The 3rd Naturopathy Day observed on 18th November

  • The 3rd Naturopathy Day on November 18, 2020, a three-day long programme was organized at the Nisargopchar ashram in Urli Kanchan in collaboration with National Institute of Naturopathy in Pune.
  • The theme for this year is on “Nurturing Vitality through Naturopathy”.
  • The highlight of the programme was an awareness session on Covid -19 and related safety precautions in day-to-day life.



Defence Minister Rajnath Singh unveils two books

  • Defence Minister Rajnath Singh unveiled two books ‘The Republican Ethic Volume III’ and ‘Loktantra Ke Swar' which are collection of selected speeches of President Ram Nath Kovind.
  • The e-book versions of the two books unveiled by Information and Broadcasting Minister Prakash Javadekar.
  • These speeches provide a window to the worldview of the President and an insight into the principles and beliefs he values.



Former Goa Governor & veteran BJP leader Mridula Sinha passes away

  • Former Governor of Goa and vetern BJP leader Mridula Sinha passed away in a hospital in Delhi at the age of 77.
  • Mridula Sinha was also the first woman Governor of Goa.
  • A renowned Hindi writer, Mridula Sinha also served as the head of the BJP's women wing and chairperson of Central Social Welfare Board in the Ministry of Human Resource Development.

Datewise Archives - Current Affairs