CURRENT AFFAIRS

Detailed explanation-1: -The correct answer is Pimpri-Chinchwad Municipal Corporation . Pimpri Chinchwad Municipal Corporation(PCMC) in Maharashtra’s Pune district and UNDP have signed an MoU to co-create India’s first social impact Bond.

Detailed explanation-2: -UPSC Mains. Q. Which state’s Municipal Corporation partnered with UNDP India to launch India’s first Social Impact Bond (SIB)? Notes: The Pimpri-Chinchwad Municipal Corporation has signed an MoU with UNDP India to create India’s first Social Impact Bond (SIB).

Detailed explanation-3: -In a maiden innovative move on civic terrain, the Pimpri Chinchwad Municipal Corporation (PCMC) in Maharashtra’s Pune district signed a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) India to co-create India’s first Social Impact Bond (SIB).

Detailed explanation-4: -The first social impact bond was issued in 2010 by Social Finance Ltd. 2 So far, social impact bonds have only been issued by the public sector, but in theory, private sector organizations can also issue them.

Detailed explanation-5: -Q. Which institution launched the first ‘Impact Bond’ for skilling in India? Notes: The National Skill Development Corporation (NSDC) launched the first and the largest ‘Impact Bond’ for skilling in India.