IOB & IGBC Signed MoU to Promote Green Finance for IGBC-Certified Projects

Current Context: Indian Overseas Bank (IOB) and the Indian Green Building Council (IGBC) signed a Memorandum of Understanding (MoU) on March 3, 2025, in Chennai, to promote eco-friendly and sustainable building practices through green finance.

• This initiative aims to encourage developers and homebuyers to adopt IGBC-certified projects by offering preferential financing options, making green buildings more accessible and financially viable.
• The partnership supports India's broader environmental goals by fostering sustainable construction, reducing the carbon footprint, and ensuring resource efficiency.
• Through collaboration, IOB and IGBC aim to accelerate the transition to a greener and more sustainable future, benefiting both the environment and the economy.

Question:

Q.1 What is the primary objective of the Indian Overseas Bank (IOB) and the Indian Green Building Council (IGBC) MoU?
a) To provide free housing to low-income groups
b) To promote eco-friendly building practices through green finance
c) To increase bank profits through real estate investments
d) To construct commercial buildings only

Answer: b) Indian Overseas Bank (IOB) and the Indian Green Building Council (IGBC) signed a Memorandum of Understanding (MoU) on March 3, 2025, in Chennai, to promote eco-friendly and sustainable building practices through green finance.