1st to 10th January 2024 - REC LIMITED AND BANK OF BARODA TO FINANCE POWER, INFRASTRUCTURE AND LOGISTICS PROJECTS Flashcards
What two major Indian financial institutions have joined forces?
REC Limited and Bank of Baroda
What is the primary goal of this collaboration?
To facilitate joint loan sanctions for projects in the power, infrastructure, and logistics sectors.
Over what time frame will these loans be issued?
The next three years.
Name the three specific sectors targeted for funding by this REC Limited and Bank of Baroda initiative.
Power, infrastructure, and logistics
Why is investment in the power sector important?
It ensures reliable electricity supply, supports economic growth, and can promote the adoption of renewable energy sources.
How does improved infrastructure benefit a nation?
Enhanced connectivity for transportation, better access to essential services, increased economic efficiency, and improved quality of life.
Explain the role of logistics in economic development.
Logistics ensures efficient movement of goods and resources, supports supply chains, reduces costs, and boosts trade.
How could this collaboration lead to positive economic outcomes for India?
Stimulate job creation, attract investment, support industries reliant on these sectors, and enhance overall economic competitiveness.
Could this partnership potentially impact India’s renewable energy goals? How?
Yes, by potentially funding renewable power projects, it could help India transition to cleaner energy sources and reduce reliance on fossil fuels.
What does the term “joint sanctions of loans” mean in this context?
Both REC Limited and Bank of Baroda will collaborate in evaluating, approving, and disbursing loans for projects.
