BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for the financing of USD 329 million for Gujarat Rural Roads Project. AIIB based in-?

A	Japan
B	China
C	Germany
D	France

Explanation:

Detailed explanation-1: -Government of India, World Bank sign loan agreement of 115 million US dollar for implementation REWARD Project.

Detailed explanation-2: -India and AIIB: India has a 7.6% shareholding in the bank, which is second to China that has 26.6% shares. India is one of the largest beneficiaries of infrastructure projects financed by AIIB.

Detailed explanation-3: -The correct answer is Gujarat. The World Bank and Asian Infrastructure Investment Bank (AIIB) will provide a loan of Rs 7, 500 crore for the Gujarat government’s Mission School of Excellence project.

Detailed explanation-4: -AIIB offers sovereign and non-sovereign financing for sound and sustainable projects in energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, and urban development and logistics.

There is 1 question to complete.