New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    The implementation of the Smart City Mission at the City

    level will be done by?
    A Special Purpose Committee Correct Answer Incorrect Answer
    B Special Purpose Vehicle Correct Answer Incorrect Answer
    C The Smart City Taskforce Correct Answer Incorrect Answer
    D A panel appointed by the state’s CM Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The implementation of the Mission at the City level will be done by a Special Purpose Vehicle (SPV) created for the purpose. The SPV will plan, appraise, approve, release funds, implement, manage, operate, monitor and evaluate the Smart City development projects. Each smart city will have a SPV which will be headed by a full time CEO and have nominees of Central Government, State Government and ULB (Urban Local Bodies) on its Board. The SPV will be a limited company incorporated under the Companies Act, 2013 at the city-level, in which the State/UT and the ULB will be the promoters having 50:50 equity shareholding.

    Practice Next