BANKING AFFAIRS

Detailed explanation-1: -By India Today Web Desk: World Bank has committed USD 125 million (around Rs 800 crore) loan to India for the STRIVE project for skill development. The objective of the operation is to improve access to quality and market-driven vocational training as well as apprenticeships, the Finance Ministry said in a statement.

Detailed explanation-2: -World Bank Approves $750 Million Loan to India to Catalyze Private Financing and Support Economic Growth.

Detailed explanation-3: -India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis during 1991.

Detailed explanation-4: -WASHINGTON, September 19, 2022 – The World Bank’s Board of Executive Directors today approved a loan of $150 million to the northern Indian state of Punjab to help the state better manage its financial resources and improve access to public services.

Detailed explanation-5: -India: ICDS Systems Strengthening & Nutrition Improvement Program (ISSNIP) The objective of Integrated Child Development Services (ICDS) Systems Strengthening and Nutrition Improvement Program (ISSNIP) Project is to improve nutritional outcomes of children in India.