Indian Railways Current Affairs

Indian hands over 18 locomotives to Myanmar

Indian Railways has formally handed over eighteen 1350 HP AC/DC diesel electric locomotives to Myanma Railways. It was the first project completed in current Indian Line of Credit (LoC).

Key Facts

India and Myanmar have been long enjoying cooperation in Railway sector over the last two decades. Moreover, Indian Railways is playing a pivotal role in developing cordial relations with the neighboring countries.

The 18 locomotives were supplied by RITES, a PSU of Ministry of Railways and manufactured by Diesel Locomotive Works, Varanasi, Uttar Pradesh. They are fitted with micro-processor control based system. They are extremely fuel efficient are equipped with latest features. They maximum speed of 100 kmph and have been customised for Myanma Railways.

Most of these supplies were carried out under Indian LoC. As per agreement singed between both countries, all locomotives were to be delivered by September 2018. They have been delivered six months ahead of the schedule.


RITES is PSE under Ministry of Railways. It is export arm of railways undertaking various projects worldwide. It is engaged in supply of Railway rolling stock vz. locomotives, wagons, coaches, permanent way maintenance vehicles, maintenance of railway infrastructure, technical studies, training of railway officials of other countries.


India inks $120 Million Loan agreement with to improve Rail Infrastructure

Government has inked $120 million loan agreement with Asian Development Bank (ADB) for completion of projects to improve Rail Infrastructure along high-density corridors and operational efficiency of Indian railways.

The loan has 20-year term, including grace period of 5 years and have annual interest rate determined according to ADB’s London interbank offered rate (LIBOR) based lending facility, and commitment charge of 0.15% per year.

Rail Infrastructure Improvement Project

The loan amount is 3 tranche of $500 million multi-tranche financing facility for Railway Sector Investment Program approved by ADB Board in 2011. The loan amount will be used to complete the ongoing works commenced under earlier tranches.

The project is aimed at enhancing efficiency of rail infrastructure through electrification, introduction of modern signaling system and doubling rail tracks on key routes in country.  It will help to develop energy-efficient, safe, and reliable railway system that will result in reduced travel time along project rail routes and improved operational and financial efficiency.

Funding will contribute towards achieving overall program outputs of double-tracking about 840 kms of rail routes and electrification of 640 kms of tracks along high density corridors. It will also help to implement new accounting systems and provide additional safety measures including collision avoidance equipment.

The loan proceeds will be used for busy freight and passenger routes in Chhattisgarh, Odisha, Maharashtra, Karnataka and Andhra Pradesh, including “Golden Quadrilateral” corridor that connects Chennai, Kolkata, Mumbai and New Delhi.

Asian Development Bank (ADB)

ADB is regional development bank which aims to promote social and economic development in Asia. It was established in 1966. It is headquartered in Manila, Philippines. Now it has 67 members, of which 48 are from within Asia and the Pacific and 19 outside.

The ADB has been modelled closely on World Bank. It has similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions. As of 2014, Japan was largest shareholder (capital subscription) having 15.7% shares followed by US (15.6%), China (6.5%), India (6.4%), and Australia (5.8%).