BRICS bank to issue first yuan-denominated bonds

BRICS bank to issue first yuan-denominated bonds

Beijing: The New Development Bank of the BRICS countries is set to issue its first yuan-denominated bonds with plans to release more bonds in local currencies including in Indian Rupee, a top official of the bank has said.

Exclusive interview with K V Kamath, President of New Development Bank

Watch special interview with K. V. Kamath, President of New Development Bank in our special segment Aapka Bazaar.

1st BRICS bank loan to India likely for solar project: Kamath

1st BRICS bank loan to India likely for solar project: Kamath

The New Development Bank set up by BRICS countries aims to lend up to USD 2 billion this year starting in about two months and the multilateral lender's first loan to India could be for a green solar energy project, its president K V Kamath said.

BRICS bank a 'worthwhile venture': Rajan

Describing the New Development Bank (NDB) set up by the BRICS countries as a "worthwhile venture", RBI Governor Raghuram Rajan today said the multi-lateral bank has gotten off to a good start raising hopes of energising the investment and financing of infrastructure projects.

BRICS bank signs pact to place headquarters in Shanghai

BRICS bank signs pact to place headquarters in Shanghai

The New Development Bank (NDB) set up by the BRICS countries on Saturday signed an agreement with China to place its Headquarters here, according legal status to the multi-lateral bank headed by eminent Indian banker K V Kamath.

Will Christine Lagarde face BRICS challenge as IMF term nears end?

Will Christine Lagarde face BRICS challenge as IMF term nears end?

As International Monetary Fund chief Christine Lagarde's mandate enters the final stretch, emerging-market powers seem hesitant about teaming up to try to wrest the job away from Europeans.

S African influence in BRICS Bank not lesser: Analyst

South Africa's influence in the newly-formed New Development Bank (NDB) will not be marginalised by the fact that it has made the smallest contribution to the initial capital among the BRICS countries, an analyst said Thursday.

China parliament ratifies BRICS Bank agreement

China`s largely rubber-stamp parliament ratified an agreement with the world`s largest emerging nations on Wednesday to create a new development bank, state news agency Xinhua reported.

China should curb competition with India to strengthen BRICS: Media

China should "curb" geopolitical competition with India and Russia to strengthen the BRICS grouping with the launch of the New Development Bank headed by eminent Indian banker K V Kamath, Chinese media said Wednesday.

BRICS bank launched in China as alternative to World Bank, IMF

The New Development Bank (NDB) of the five-nation BRICS bloc headed by eminent Indian banker K V Kamath was inaugurated at a colourful function attended among others by Chinese Finance Minister Lou Jiwei and senior officials from BRICS countries.

New BRICS bank opens for business: Xinhua

The new BRICS bank opened for business in Shanghai on Tuesday, China`s official Xinhua news agency reported.

No shareholding restrictions on BRICS Bank loans: Kamath

"Our aim will be that we do not see only from the point of view of the lenders, but also from the point of view of the borrowers," Kamath told PTI in an interview.

BRICS vow to coordinate actions to protect their economies

The BRICS emerging nations said on Thursday they were worried about the volatility of global financial markets and oil prices and agreed to coordinate efforts to keep their economies stable.

New Development Bank must promote joint BRICS projects: FICCI

Welcoming Prime Minister Narendra Modi's thrust on deeper economic cooperation between BRICS (Brazil, Russia, India, China and South Africa) nations, Ficci Thursday said the New Development Bank must promote projects in infrastructure, renewable energy and skill development.

BRICS voices concern over 'fragile' global growth

BRICS countries, including India, Thursday voiced concern over the "fragile recovery" of global growth and the potential spillover effects from the "unconventional monetary policies" of the developed countries and felt that the BRICS Development Bank will serve as a powerful instrument for financing infrastructure investment.

Narendra Modi proposes 10-point initiative for BRICS nations

Calling it 'Das Kadam: Ten Steps for the Future', Modi put forward new initiatives for the BRICS grouping that is formed by major emerging economies.

BRICS bank to finance energy projects from next year: Vladamir Putin

Russian President Vladimir Putin said on Thursday that a new BRICS bank would become fully operational and finance energy projects next year as emerging markets attempt to challenge the Western-dominated financial system.

New BRICS bank to look at local, international borrowing: President

The New Development Bank being launched by the BRICS group of emerging economies plans to raise money both on local markets and internationally, its president said on Thursday.

BRICS bank to consider new memberships within six months

The BRICS New Development Bank will consider membership of new countries within six months, with the most probable new candidates being African states, its first president, India`s K.V. Kamath, said on Wednesday.

India to contribute $18 bn to BRICS forex reserves pool

India to contribute $18 bn to BRICS forex reserves pool

India will contribute USD 18 billion to the USD 100 billion foreign-exchange reserves pool that is being set up by five nations of the BRICS grouping to help each other "in case of any problems with dollar liquidity".