BANKING AFFAIRS

Detailed explanation-1: -Notes: The Government of India (GoI) has released 470 million Nepali rupees grant for Terai roads project in Nepal. The amount has been released to maintain fund liquidity for the ongoing construction of 14 road packages under Postal Highway Project.

Detailed explanation-2: -Construction is underway on Nepal’s new Kaligandaki highway, which will provide a key route running North-South through the country. To the north it will connect with China and to the south with India.

Detailed explanation-3: -The Mumbai–Nagpur Expressway is under construction and is expected to be completed in May 2022. The expressway is 701km long and the estimated cost of the project is Rs 55, 000 crore. The Pathankot-Ajmer Expressway is under construction and is expected to be completed in March 2023.

Detailed explanation-4: -Nepal’s first paved road was built with aid from India in the early 1950s. It connected Kathmandu with Raxaul on the Indian border. As of 1997, additional roads were being built, primarily with the cooperation of India but also the United States, including an East-West Highway through southern portions of the country.