Home > Practice > Current Affairs > July - 2024 > July 23, 2024
11. Which organization received funding approval from the Green Climate Fund to create a $1 billion corpus for green financing?
The Small Industries Development Bank of India (SIDBI) received funding approval of $215.6 million from the Green Climate Fund to establish a $1 billion corpus for financing mitigation and adaptation projects for Medium and Small Enterprises (MSMEs). This fund aims to provide nearly 10,000 concessional loans to promote low-emission, climate-resilient technologies, contributing to substantial greenhouse gas emission reductions and benefiting millions of vulnerable communities.
12. Who has been appointed as the new CEO and Managing Director of Federal Bank?
KV Subramanian has been appointed as the new Managing Director and Chief Executive Officer of Federal Bank, with his term starting on September 23, 2024. Prior to this role, Subramanian was the Joint Managing Director of Kotak Mahindra Bank. Federal Bank, headquartered in Aluva, Kerala, is a prominent Indian private sector bank founded on April 23, 1931, by K. P. Hormis. His appointment marks a significant leadership transition for the bank.
Next