Secretary (West) in the Ministry of External Affairs (MEA), Navtej Sarna on Thursday said Prime Minister Narendra Modi discussed South Africa`s position on supporting India`s membership for the nuclear suppliers` group, at the seventh BRICS summit.
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.
In a major shift from the way multilateral lenders functions, borrowers' interest will be paramount for the USD 100-billion BRICS Bank as against the common practice of lenders' view getting preference, the first chief on the new institution K V Kamath has said.
Russian President Vladimir Putin and his government courted Beijing on Wednesday before a BRICS summit, playing down a stock market plunge in China and proposing better terms for investors from Beijing.
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.