World Bank Approves $890 Million Financial Package for PM Surya Ghar Scheme

The World Bank has approved an $890 million financing package to support India's PM Surya Ghar: Muft Bijli Yojana rooftop solar scheme.
The package consists of an $820 million loan from the IBRD, a $60 million concessional loan from the Clean Technology Fund, and a $10 million grant from the Livable Planet Fund.
The scheme aims to achieve net-zero emissions by 2070 and install rooftop solar systems in 1 crore rural and urban households.
Additionally, the World Bank will mobilize an estimated $4.2 billion in private financing through commercial loans for this massive green energy transition.

Key Facts / Static GK

The World Bank was established in July 1944.
The World Bank is headquartered in Washington D.C., USA.
Ajay Banga serves as the 14th President of the World Bank.
The World Bank has 189 member countries.

Q Practice Quiz — 11 July 2026

1. What long-term and short-term ratings were assigned to Federal Bank in its inaugural credit rating by S&P Global?

A BBB / A-2

B BBB- / A-3

C BB+ / A-3

D BBB- / A-2

E AAA / A-1

Explanation: Federal Bank received an inaugural rating of BBB-/Stable for the long term and A-3 for the short term from S&P Global Ratings.

2. According to the IMF's latest World Economic Outlook Update, what is the revised GDP growth forecast for India for FY27, and what was the main reason cited for the cut?

A 6.5% due to weak monsoon

B 6.4% due to high energy prices

C 6.6% due to manufacturing slowdown

D 6.7% due to fiscal deficit

E 6.1% due to global financial instability

Explanation: The IMF lowered India's FY27 growth forecast to 6.4% (from 6.5%), citing the impact of higher energy prices on economic activity.

3. What are India's revised FY27 GDP growth and inflation forecasts respectively, as per the ADB India Economic Outlook released in July 2026?

A 6.9% and 4.5%

B 6.6% and 5.2%

C 7.3% and 4.0%

D 6.4% and 5.2%

E 6.6% and 4.5%

Explanation: ADB lowered India's FY27 GDP growth forecast to 6.6% and raised the inflation forecast to 5.2% in its July 2026 update.

4. Who launched the newly established Letter of Authorisation (LoA) Regime aimed at regulating sustainable deep-sea fishing in India?

A Prime Minister Narendra Modi

B President Droupadi Murmu

C Vice President Jagdeep Dhankhar

D Union Minister of Fisheries Parshottam Rupala

E Home Minister Amit Shah

Explanation: Vice President Jagdeep Dhankhar launched the new Letter of Authorisation (LoA) Regime to boost India's Blue Economy and deep-sea fishing.

5. Which Indonesian civilian honour was recently conferred on Prime Minister Narendra Modi by President Prabowo Subianto?

A Order of the Republic

B Bintang Adipurna

C Grand Cross of the Legion of Honour

D Order of State

E Star of Merit

Explanation: Prime Minister Narendra Modi was conferred with 'Bintang Adipurna', which is the highest civilian honour of Indonesia.

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