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Neelkanth Mishra Appointed World Bank Executive Director Why in the News ? The Appointments Committee of the Cabinet (ACC) has approved the appointment of Neelkanth Mishra as Executive Director at the World Bank Headquarters, Washington D.C., for a tenure of three years, representing India’s interests in the institution, including matters related to environmental financing and …
Read MoreWORLD BANK RETAINS INDIA FY27 GDP GROWTH FORECAST AT 6.5% Why in the News? Growth outlook unchanged: The World Bank has retained India‘s GDP growth forecast at 6.5% for FY 2026–27, considering factors such as environmental clearances and their impact on economic activities. Tariff assumption: The projection assumes continuation of 50% import tariffs by the …
Read MoreExplore major international organizations and their roles in global governance, peace, and development. Essential for UPSC GS Paper 2, this topic covers the UN, WTO, IMF, World Bank, and more.
Read MoreWORLD BANK: 5.75% INDIANS LIVE IN EXTREME POVERTY Why in the News? Recent estimates: World Bank’s April 2025 poverty report states 5.75% of Indians are below the global poverty line of $3/day (PPP), highlighting ongoing challenges in global extreme poverty reduction and the persistence of poverty in developing nations. Sharp decline: The percentage of people …
Read MoreAsian Development Bank (ADB) Establishment and Headquarters Founded on December 19, 1966, and headquartered in Manila, Philippines. Multilateral development bank promoting social development, sustainable economic growth, and regional integration in Asia and the Pacific. Membership and Leadership A total of 68 member countries, including 49 from Asia-Pacific and non-regional developed countries. Japan, the US, China, …
Read MoreAfter World War II, there was a pressing need among powerful nations for a more unified global financial order. The establishment of the United Nations Organization (UNO) signified hopes for a more stable world order. To address these concerns, representatives from the USA, the UK, and 42 other nations convened at Bretton Woods, New Hampshire, …
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