Which bank has signed a memorandum of understanding with the Confederation of Indian Industry Indian Green Building Council to offer preferential financing for IGBC-rated green buildings?

The correct answer is Indian Overseas Bank.

In News

• Indian Overseas Bank has signed an MoU with CII Indian Green Building Council to offer preferential financing options for developers of IGBC-rated green buildings.

Key Points

• Indian Overseas Bank (IOB) has partnered with the CII Indian Green Building Council to promote green building construction through preferential financing.
• The collaboration aims to make green buildings financially accessible to developers and homebuyers, supporting sustainable construction practices.
• Indian Overseas Bank will provide tailored financial support to developers and homebuyers purchasing residential units in IGBC-certified projects.
• The bank's MD, Ajay Kumar Srivastava, emphasized that this partnership aims to make green buildings a viable and affordable reality for India.

Additional Information

• Indian Overseas Bank (IOB)
  • Headquarters: Chennai
  • Founded: 1937
  • MD & CEO: Ajay Kumar Srivastava
  • Focus: Providing financial solutions for sustainable and green construction projects.
• CII Indian Green Building Council (IGBC)
  • Purpose: Promotes sustainable construction practices and energy-efficient buildings.
  • Initiatives: Developing standards for green buildings in India.