In March 2023, which bank approved a loan of USD 108 million (₹8,89,65,17,496) for the Assam Integrated River Basin Management Project (AIRBMP) to improve Assam's disaster preparedness and flood forecasting capabilities?

The correct answer is World Bank . Key Points The World Bank approved a loan of USD 108 million in March 2023 for the Assam Integrated River Basin Management Project (AIRBMP). This project aims to strengthen Assam’s disaster preparedness and flood forecasting capabilities to manage water-related risks effectively. The fund will support the state in developing robust mechanisms for flood control, erosion management, and improving the livelihoods of vulnerable communities. The initiative will also promote sustainable water resource management in Assam, which faces recurring issues of floods and riverbank erosion. The project aligns with the World Bank's commitment to addressing climate change and disaster risk management in vulnerable regions. Additional Information HSBC HSBC, or the Hongkong and Shanghai Banking Corporation, is a leading international banking and financial services organization headquartered in London, UK. It primarily focuses on commercial banking, global banking, wealth management, and retail banking services. While HSBC provides financial assistance globally, it is not involved in major developmental funding projects like the World Bank. Reserve Bank of India (RBI) The Reserve Bank of India is India’s central bank responsible for regulating the issuance and supply of the Indian rupee. Its primary role involves monetary policy implementation, regulation of banks, and ensuring financial stability in the country. It does not provide loans for projects like AIRBMP but ensures macroeconomic and financial stability in India. HDFC Bank HDFC Bank is one of India's largest private sector banks, offering banking and financial services to individuals and businesses. It focuses on retail and corporate banking rather than international developmental loans like those provided by the World Bank.