Government of India & NDB Sign Agreement for USD 500 Million

Shankar School of Banking November 20 , 2020 302

NATIONAL NEWS

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).

 

IMPORTANT DAYS

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.

 

BOOKS&AUTHORS

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.

 

OBITUARY

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.

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