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PNB & IIFCL Signed MoU to Finance Infrastructure projects

Published on June 06, 2024
Current Context: Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL) signed a Memorandum of Understanding (MoU) on June 3, 2024 in New Delhi.
  • Here are the key points from the agreement:
    • The MoU aims to offer long-term financial assistance to viable infrastructure projects.
    • Both institutions will collaborate to fund infrastructure projects under consortium/multiple lending arrangements.
    • They will provide financial support to prospective borrowers following due diligence on a case-by-case basis.
    • The signing ceremony was attended by Atul Kumar Goel, MD & CEO of PNB, and Padmanabhan Raja Jaishankar, MD of IIFCL.
    • This partnership is anticipated to open new lending avenues for the country’s infrastructure projects.

Question:

1 What is the main aim of the MoU signed between Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL)?

  • A) To enhance digital banking services
  • B) To offer long-term financial assistance to viable infrastructure projects
  • C) To expand their retail banking networks
  • D) To improve international trade finance
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