Asian Development Bank (ADB) signed an agreement with Indian Railway Finance Corporation (IRFC), an entity owned by Government of India (GOI) to provide USD 750 million long-term financing for the Railways Track Electrification Project as part of a broad modernization program to reduce the dependence India's railway sector on fossil fuels.
It is the largest single non-sovereign loan ever.
| Article and Schedule Quiz | Start Test! |
IRFC will use the proceeds from the loan to install electric traction equipment along about 3,378 kilometres of existing railway lines.
About IRFC:
Established in 1986.
It is the financing arm of Indian Railways for mobilizing funds from domestic and international capital markets.
It is registered as a non banking finance company (NBFC).
About ADB:
Establishment: 1966
Headquarters: Mandaluyong, Philippines
President: Takehiko Nakao
Membership: 68 countries
| Missiles Mock Test | Start Test! |
| SSC MTS Mock Test | Start Test |
| IBPS CLERK MOCK TEST | Start Test |
| SSC MTS 2022 JULY 26 Shift 1 (ENGLISH) | Start Test! |
| SSC GD Previous Year Paper 2021 Nov 17 Shift - I (Hindi) | Start Test! |
| SSC CGL Tier - 1 PYP 2022 April 21 Shift- 1 (ENGLISH) | Start Test! |
| MPSC PAPER I MOCK TEST 1 (ENGLISH) | Start Test! |
| IB Security Assistant Mock test 1 (english) | Start Test! |
| UP POLICE CONSTABLE MOCK TEST 1 | Start Test! |
| DELHI POLICE CONSTABLE MOCK TEST 1 (HINDI) | Start Test! |
