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AIIB gave a loan of $210 million to India for irrigation and solar energy projects

Asian Infrastructure Investment Bank (AIIB) has given a loan of $210 million to India for irrigation and solar energy projects.
$145-million will be used to improve the irrigation facility and strengthen flood risk management in West Bengal and, $65-million will be used for 250 MW solar power project in Jodhpur, Rajasthan.

Month: Current Affairs – December 2019
Categories: Banking & Economy
Important Points: Asian Infrastructure Investment Bank, solar power, Board of Governors, Governance of AIIB, Board of Director, Senior Management TeamSovereign-Backed Financing

Rules relaxed on Overseas Citizenship of India

Ministry of External Affairs has relaxed some guidelines for Overseas Citizenship of India (OCI) for those people aged below 20 years and for aged above 50 years.
For below 20 years: The cardholder below 20 years who has not got his/her reissued OCI card on the new passport can travel with the existing OCI card bearing old passport number.

Month: Current Affairs – December 2019
Categories: Banking & Economy
Important Points: Overseas Citizenship of India, Ministry of External Affairs, Indian Diaspora, dual citizenship, OCI cardholder, Foreign Regional Registration Officer, All India Pre-Medical Test

ADB gave $250 million loan to the PSU- Energy Efficiency Services Limited

Asian Development Bank (ADB) has given $250 million loan to the PSU- Energy Efficiency Services Limited (EESL) to increase investments in energy efficiency projects in India.
Apart from this loan, $46 million will also be provided from Clean Technology Fund (administered by ADB).

Month: Current Affairs – December 2019
Categories: Banking & Economy
Important Points: Energy Efficiency Services Limited, Asian Development Bank, Clean Technology Fund, facilitating policy dialogues, providing advisory services, mobilizing financial,export credit sources