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UP’s Ganga Expressway to Receive Loan from PNB

Published on August 26, 2021
Current Context: The ambitious Ganga Expressway project of Uttar Pradesh has received major support of funds from Punjab National Bank (PNB).
UP’s Ganga Expressway to Receive Loan from PNB
  • The PNB has sanctioned a loan of Rs 5100 crore to the state government for the same.
  • The Ganga Expressway will be 594 km long and it will be the longest in North India and the second-longest in India.
  • The Ganga Expressway will connect Meerut in west Uttar Pradesh with Prayagraj in the east, it will also reduce the travel time from Lucknow to Meerut to 5 hours and 6.5 hours from Prayagraj to Meerut.
  • The total costing of the project is Rs 36,230 crore.
  • The approval letter for the loan from the bank was handed to the state government during the ceremony at the Indira Gandhi Prathisthan of UP.
  • The Expressway will be owned and operated by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA).
  • Static Part: 
    • HQ of PNB: New Delhi
    • CEO of PNB: SS Mallikarjuna Rao
    • CM of UP: Yogi Adityanath
    • Governor of UP: Anandiben Patel

Question: 

Q.1 Which bank granted a loan of Rs 5100 crore to the ambitious Ganga Expressway project of Uttar Pradesh which is operated by Uttar Pradesh Expressways Industrial Development Authority (UPEIDA)?
a. State Bank of India
b. Punjab National Bank
c. HDFC Bank
d. Union Bank of India

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