SarkariPYQ

SSC CHSL 2021 PYQ — Question 47

SSC CHSL - 4 Aug 2021 - Shift 3 • General Awareness • Q47

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Which of the following banks has signed a loan of $40 million to Northern Arc Capital
to support the microfinance borrowers and the MSME sectors in India?

Show answer & explanation

Correct answer: A

Explanation

The correct answer is option 1 i.e. ADB.

  • The Asian Development Bank (ADB) has signed a $40-million loan (in rupee equivalent) to Northern Arc Capital (NACL).

  • It is done to support the livelihoods of microfinance borrowers and micro, small, and medium-sized enterprises (MSMEs) in India.

  • The loan is being disbursed to NACL as part of ADB’s ongoing Covid-19 response. .

  • NACL will on-lend the loan proceeds and provide guarantees to financial institutions and individual borrowers.