<h1>Special Private Placement Bonds increase India's borrowing capacity above the single borrower limit, enabling additional World Bank lending.</h1> Approval authorises a Special Private Placement Bonds arrangement with the IBRD under which the RBI will invest in SPPBs so the IBRD can lend to India above the Single Borrower Limit; such loans will follow the same terms and conditions applicable to general IBRD lending. A Framework Agreement with the IBRD and a Memorandum of Understanding with the RBI will govern implementation, with the RBI investment intended to reduce concentration risk and the additional borrowing space to support World Bank-assisted projects prioritising low-income and special-category States and inclusive growth.