The BRICS’ New Development Bank has approved a $525-million loan for infrastructure projects in India. The loan will be used by the Indian government for on-lending to the Madhya Pradesh government for rehabilitating major district roads with a total length of about 2,000 km. The loan aims to improve connectivity of the rural interior with the national and state highways.
Static/Current Takeaways Important for IBPS PO 2018-
- BRICS bank CEO -K V Kamath, Headquarter– Shanghai, China