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India Signs Grant Agreement with IBRD

An agreement for Global Environmental Facility (GEF) Grant of USD 9.20 Million with theWorld Bank for"Efficient and Sustainable City Bus Service Project" was signed here today by Shri Rai Kumar. Joint Secretary (MI), Department of EconomicAffairs on behalf of the Government of India and Mr. Onno Ruhl, Country Director, World Bank (India) on behalf of IBRD, acting as an Implementing Agency of theGlobal Environment Facility. Representatives from Ministry of Urban Development and State Governments of Madhya Pradesh, Maharashtra, Rajasthan and Chandigarh (UT) were also present on the occasion.

The total program cost is USD 113.0 million, with USD 9.20 million as grant from the GEF and USD 103.07 million from Government of India and state & city governments for funding of buses and ancillary infrastructure.

The project's development objective is to improve the efficiency and attractiveness of city bus transport and reduce greenhouse gas emissions in the demonstration cities. It comprises: (i) a national capacity building component to be implemented by Ministry of Urban Development (MoUD); and (ii) city demonstration projects in the cities of Bhopal, Chandigarh, Jaipur and Mira Bhayandar.

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Vice Admiral Karambir Singh, AVSM assumes charge as Vice Chief of Naval Staff

Vice Admiral Karambir Singh, AVSM, assumed charge as the Vice Chief of Naval Staff today, 31 May 16. The Admiral is an alumnus of the National Defence Academy, Khadakwasla.

Commissioned into the Indian Navy in July 1980, the Admiral earned his wings as a helicopter pilot in 1982 and has flown extensively on the Chetak and Kamov helicopters. He is a graduate of Defence Services Staff College, Wellington; College of Naval Warfare, Mumbai and has served as Directing Staff in both these institutions.

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BCCI developing green stadiums: Anurag Thakur

BCCI President Anurag Thakur said, BCCI is developing green stadiums and has earmarked Rs. 100 crore for the purpose.

He said, BCCI has also taken steps for solar power generation and reuse of sewage water after getting it treated for grounds.

He was speaking to media on Monday after inaugurating a newly developed cricket stadium by Andhra Cricket Association and Krishna District Cricket Association at Mulapadu village, about 20 km from Vijayawada.

He said, the BCCI was making efforts to implement its "Go Green" initiatives.

He said, solar panels were being installed in cricket stadiums for power generation and steps were being taken for rain water harvesting structures and reuse sewage water for grounds after getting it treated besides conducting energy auditing.

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Alaistar Cook becomes youngest batsman to score 10,000 Test runs

 

England captain Alastair Cook became the first English cricketer to reach the 10,000 runs milestone in Test cricket on Monday during the second Test against Sri Lanka at Chester-le-Street.

In the process, he also became the youngest batsman to achieve the extraordinary feat, surpassing Indian batting legend Sachin Tendulkar.

The British Prime Minister David Cameron congratulated the Left-handed opener for achieving the remarkable feat.

 

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Govt keen to set up stressed assets fund to fight NPAs: Sinha

 

Union minister of State for Finance Jayant Sinha said that India is looking to start a "significant" fund that will invest in distressed loans held by lenders, as regulators strive to clean-up non-performing loans in the struggling sector.

He further added that there are several players interested in investing in such a fund including the National Investment and Infrastructure Fund, special situation funds and smaller stressed asset funds.

Sinha was speaking on the sidelines of an event by credit ratings agency CRISIL in the financial capital. The minister also counted the achievements of the government on the completion of its 2 years and said that it works on sab ka saaath sab ka vikas.

He further said that the government is a pro poor government and works on the lines of ending poverty through its various initiatives.

 

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