Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.136)

136. 

Which bank has signed an agreement to provide USD 750 million to India for Railway Track Electrification?

[A]. World Bank
[B]. Asian Development Bank
[C]. International Monetary Fund
[D]. Islamic Development Bank

Answer: Option B

Explanation:

Multilateral funding agency Asian Development Bank (ADB) has announced that it has signed an agreement to provide USD 750 million equivalent in Indian rupee long-term financing to electrify railway tracks in India. It is the largest single non-sovereign loan ever committed by ADB to Indian Railway Finance Corporation (IRFC) to fund the railways track electrification project.

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