With whom has IREDA signed an agreement for co-financing renewable energy projects?

Daily Current Affairs

HDFC Bank

Punjab National Bank

IDFC First Bank

Bandhan Bank

Correct Answer : Punjab National Bank

Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have signed an MoU to jointly finance renewable energy projects across India.

The agreement allows both organizations to collaborate on co-lending and loan syndication for a wide range of renewable energy initiatives. Provisions within the MoU include joint lending, loan syndication, underwriting, managing Trust and Retention Account (TRA) for IREDA borrowers, and working towards competitive terms of sanction, including pricing on IREDA borrowings. Additionally, the collaboration enables IREDA and PNB to invest in bonds issued by either party.

The MoU aims to provide substantial financial support to various renewable energy projects, promoting sustainability and environmental awareness. By leveraging this agreement and existing partnerships with other financial institutions, IREDA aims to contribute towards achieving the 500 GW non-fossil-based electricity generation capacity goal by 2030.

To accelerate renewable energy growth in India, IREDA has engaged in collaborations with various entities in the sector. Recently, on 11 February 2024, IREDA partnered with the Indian Institute of Technology, Bhubaneswar, to enhance innovation, research, technology transfer, and support start-up development in the renewable energy sector.

IREDA has also previously signed MoUs with the Union Bank of India (UBI) and the Bank of Baroda (BoB) to foster co-lending and loan syndication initiatives for a wide array of renewable energy projects..

Source : DD News

Published On : February 20, 2024

Which State of United States is Known as “The Centennial State”?

Colorado holds the distinction of being known as “The Centennial State” among the United States. This nickname stems from its admission into the Union in 1876, precisely 100 years after the signing of the Declaration of Independence. Symbolizing both historical significance and patriotic pride, the title highlights Colorado’s role in commemorating the nation’s centennial while underscoring its rich heritage and contributions to American history.

The Origin of the Nickname “The Centennial State” :

Colorado earned the moniker “The Centennial State” due to its admission into the Union in the year 1876. This year held special significance as it marked the centennial anniversary of the signing of the Declaration of Independence, a pivotal event in American history. The timing of Colorado’s statehood celebration perfectly aligned with the nation’s centennial celebrations, hence the fitting nickname.

Published On : May 13, 2024

Q .

International Day of Plant Health 2024 Observed on?

9th May

10th May

11th May

12th May

Correct Answer : Option (D) - 12th May

The International Day of Plant Health (IDPH) is observed annually on 12 May to raise awareness about the critical importance of protecting plant health. This global initiative aims to prevent hunger, reduce poverty, safeguard biodiversity, and promote economic development worldwide. This year, the International Day of Plant Health falls on Sunday, 12 May 2024, coinciding with Mother’s Day, an event that recognizes the love, care, and sacrifices of mothers.

Theme: ‘Plant Health, Safe Trade, Digital Technology’ :

The theme for the International Day of Plant Health 2024 is ‘Plant Health, Safe Trade, Digital Technology.’ This theme emphasizes the need for international collaboration, standards, and the integration of digital technologies to promote plant health and ensure safe trade practices.

History and Significance :

The United Nations established the International Day of Plant Health to draw public attention to the necessity of safeguarding plant health. The resolution was unanimously adopted by the UN General Assembly in March 2022 and co-sponsored by several countries, including Bolivia, Finland, Pakistan, the Philippines, Tanzania, and Zambia.

The resolution highlights the crucial role of healthy plants in sustainable agricultural development, supporting a growing global population by 2050. It also acknowledges the functions of plants in regulating ecosystems, providing food security and nutrition, and promoting biodiversity.

Published On : May 13, 2024

Q .

Which Indian City is Known as 'City of Bridges'?

Mumbai

Pune

Surat

Bengaluru

Correct Answer : Option (C) - Surat

Surat earned the title "City of Bridges" due to its extensive network of over 120 bridges, surpassing any other city in India.

Which Indian City is Known as “City of Bridges”?

The Indian city known as the “City of Bridges” is Surat, located in the state of Gujarat. Surat boasts an impressive number of bridges, surpassing any other city in India. With over 120 bridges spanning rivers and connecting various parts of the city, Surat’s infrastructure facilitates smooth transportation for its residents. This abundance of bridges has earned Surat its distinctive title, highlighting its significance as a hub of connectivity and urban development.

Why is Surat Known as the “City of Bridges”?

Surat earned the title “City of Bridges” due to its extensive network of over 120 bridges, surpassing any other city in India. Situated along the banks of the Tapi River and close to other water bodies, Surat’s strategic location necessitated the construction of numerous bridges for seamless connectivity. These bridges play a vital role in facilitating smooth transportation within the city, earning Surat its reputation as a hub of connectivity and urban development.

Published On : May 13, 2024