Answer-With reference to Bengaluru Smart Infrastructure Limited (B-SMILE), consider the following statement...

Statement 1 Correct. B-SMILE is an SPV created by the Karnataka government with 7,000 crore initial funding to execute key infrastructure projects in Bengaluru. Statement 2 Correct. As per its MoA, the state government holds 90 equity, while BBMP Bruhat Bengaluru Mahanagara Palike holds 10. Statement 3 Correct. The board will be 11-member strong, led by a full-time IAS officer as CEO, and include the Mayor, civic commissioners, and three private sector experts. Statement 4 Incorrect. Its first major project is not elevated corridors but 40 km of tunnel roads to decongest surface traffic. Thus, the correct answer is 1, 2 and 3 only.

Question

With reference to Bengaluru Smart Infrastructure Limited (B-SMIL

E , consider the following statements: 1. B-SMILE is a special-purpose vehicle (SP
V launched by the Karnataka government with an initial funding of ₹7,000 crore. 2. The Karnataka government holds 90% equity, while the BBMP retains 10%. 3. The B-SMILE board will have 11 members, including civic body commissioners, the Mayor of Bengaluru, and three private sector experts. 4. Its first major project is the construction of 40 km of elevated corridors to ease Bengaluru’s traffic congestion. Which of the above statements is/are correct?