CURRENT AFFAIRS

Detailed explanation-1: -Asian Development Bank (ADB) has signed an agreement to provide long-term financing of $750 million equivalent in Indian rupees - the largest single non-sovereign loan ever committed by ADB - to the Indian Railway Finance Corporation (IRFC), to fund the Railways track electrification project, said a release.

Detailed explanation-2: -The Central Organisation for Railway Electrification (CORE) is an organizational unit of Indian Railways responsible for railway electrification of the Indian Railways network. The organisation, founded in 1979, is headquartered in Prayagraj, Uttar Pradesh, India.

Detailed explanation-3: -Going electric It plans to completely transition to an electrified rail network by December 2023. The annual diesel consumption of the Railways has dropped to 1,092 million litres in 2020-21 (till January 2021) from 3,066 million litres in 2018-19.

Detailed explanation-4: -Indian Railway Finance Corporation (IRFC) is an Indian public sector undertaking engaged in raising financial resources for expansion and running through capital markets and other borrowings.

Detailed explanation-5: -According to the report, Route Kilometre (RKM) is used to express the total distance covered by a train to reach its destination, while a tonne-kilometre (TKM) represents the movement of one tonne of freight by a given mode of transport.