The NCRTC, which is executing the country's first RRTS, said the contract was awarded following the set procedure and guidelines.
The project will be in three stages and sources indicate that the funding will be for the first stage of 107 kilometre from Sarai Kale Khan to SNB Urban Complex.
The money will be used for drainage systems development.
The grouping of Brazil, Russia, India, China and South Africa had in March decided to establish a new development bank -- BRICS Bank -- to finance infrastructure projects and to create a $100 billion contingency fund to tackle any financial crisis in emerging economies.
Lavasa would soon be joining the Asian Development Bank as vice president
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
The growth in the current fiscal is likely to slip to a decade-low of 5.7 per cent.
Takao replaced Haruhiko Kuroda, who had, in March, quit ADB to take charge as Japan's central bank governor.
As India raised its pitch for upgrade of ratings from the current lowest investment grade, Atsi Sheth, vice-president and senior analyst, sovereign risk group, Moody's Investors Service, tells Business Standard that she does not foresee any movement from the current grade in the next 12-18 months.
The Manila-based multilateral lender had extended $2.4-billion loan to India across sectors like transport, energy, commerce, industry, trade and finance in 2012. India is the biggest borrower of ADB.
Indians are conservative, curious and women here are expected to dress modestly to avoid sexual harassment. This is the advice given out by the Asian Development Bank to all its delegates visiting India for the annual meeting beginning in Greater Noida on Thursday.
Easy global liquidity and investors' eagerness to tap one of the world's few fast-growing regions should create a sweet spot for the region to fill the $600 billion in infrastructure needs the Asian Development Bank identifies over the next decade.
The present financial crisis in Europe and other countries is affecting Asian economies not just through trade or slower Asian exports, but through financial channels and can be compared to the Lehman shock of 2008.
The chief minister asked the delegation to consider new proposals under regional connectivity scheme and also to provide further assistance for newly notified state highways.
Asian Development Bank has asked Dhaka to send a formal request by Sunday.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
While the world's largest and the most populous continent has more than doubled its share in the global gross domestic product from 15 per cent in 1950 to 35 per cent currently, billions of its people do not get even basic amenities of life, the Philippines-based institutions president Haruhiko Kuroda said.
ADB's sovereign lending to India was $1.95 billion in 2012, beside $0.33 billion to the private sector and another $0.07 million in grants.
The Asian Development Bank (ADB) on Monday lowered India's growth forecast for the current fiscal to 5.6 per cent, from 7 per cent projected earlier, citing falling global demand and impact of delayed monsoon on agricultural production.
IndusInd Bank was the top loser in the Sensex pack, plummeting over 23 per cent. PowerGrid, Kotak Bank, Bajaj Finance, HDFC Bank and NTPC also finished significantly lower. ONGC and ITC were the only stocks in the index that ended with gains. US President Donald Trump has proposed an economic package which could approach $1 trillion, a rescue initiative not seen since the great recession of 2008.
With the rupee fast losing value against the US dollar, Finance Minister Pranab Mukherjee on Friday blamed volatility in global commodity prices for currency depreciation and said deteriorating balance of payment (BoP) situation in several Asian countries also put stress on currencies.
The report, however, warned of challenges arising from large capital inflows.
The rapid growth in developing Asian countries including India is widening the rich-poor divide and income inequality could threaten the stability of nations, warns the Asian Development Bank (ADB).
These clauses deal with penalties, licences, registration and National Transport Policy, among others.
Offering "huge scope" for foreign investments, Finance Minister Pranab Mukherjee on Friday said India needs about $1 trillion in next five years for infrastructure development, half of which has to come from the private sector.
Finance Minister Pranab Mukherjee on Friday dismissed as speculation reports that he has emerged as a front runner in the race for presidential election.
With almost $ 1.815 billion out of the fund's bucket for the bridge, the fate of Bangladesh's most important bridge has now become uncertain.
The Asian Development Bank (ADB), on Wednesday said it has approved $17.51 billion in financing operations last year to assist its developing member countries achieve their Millennium Development Goals.
Brokers said investor sentiment turned choppy on selling by foreign institutional investors ahead of the September month derivatives expiry on Thursday.
The Asian Development Bank (ADB) on Thursday lowered the growth forecast for India to 6.5 per cent for the current fiscal, from the earlier 7 per cent projection, on the back of subdued demand and high inflation.
Funds will invest in new technology companies involved with climate change mitigation.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
Two months back the bank had made a projected the GDP growth at 5.6 per cent for the same fiscal.
China's GDP growth this year is expected to be around 8.5 per cent, down from 9.2 per cent in 2011, as the economy slowed down due to declining exports and global downturn, the Asian Development Bank (ADB) said in its annual report.
The Manila-based development finance institution has decided not to guarantee loans directed to Andhra Pradesh, where the microfinance activity has fallen sharply due to strict rules introduced by the state government in October last year.
Union Finance Minister Pranab Mukherjee has brought about a coup in North Block by bringing an Indian Foreign Service officer Venu Rajamoni as Joint Secretary to head multilateral institutions division.
Challenge before Indian policy makers was to make growth inclusive and manage infrastructure investments better.
The report, titled Women and Labour Markets in Asia: Rebalancing for Gender Equality, noted that although Asia's economic growth of 6.2 per cent in 2000-2007 exceeded the
The lender has also urged Asian governments and the private sector to work together to ensure that growth is more inclusive.
Asian Development Bank on Tuesday raised India's growth forecast for the current fiscal to 8.5 per cent from 8.2 per cent but expressed concern over persistent high inflation and rising value of rupee which could undermine future economic expansion.
