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New Development Bank

27 Feb 2016

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.

New Development Bank

27 Feb 2016

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.

New Development Bank

24 Jul 2015

NDB's first loan will be in Chinese currency: Kamath

The NDB opened in Shanghai on July 21 to finance infrastructure projects, mainly in BRICS countries.

New Development Bank

21 Jul 2015

BRICS bank launched in Shanghai, to work with AIIB

The NDB has initial capital of $50 billion, which will be expanded to $100 billion within the next couple of years.

Export-Import Bank of India

10 Jul 2015

Exim Bank, BRICS member development banks ink MoU with NDB

Export-Import Bank of India (Exim Bank) on Friday said it has signed a multilateral agreement to cooperate with New Development Bank (NDB) along with other member development banks of BRICS nations.

New Development Bank

10 Jul 2015

BRICS bank to start lending in local currency by April: Kamath

The New Development Bank (NDB), set up by five BRICS nations including India, will start lending in local currency by April next year and member countries will primarily be the focus of credit facility, its chief and eminent banker K V Kamath said here on Friday.

09 Jul 2015

Modi proposes 10-point initiative for BRICS nations

India will be the next chair of BRICS for 11 months beginning February next year.

09 Jul 2015

Unilateral sanctions hurting global economy: PM Modi

Prime Minister Narendra Modi today said that "unilateral sanctions" are hurting the global economy, in a veiled attack on the West which has imposed sanctions on Russia over the Ukraine crisis.

09 Jul 2015

BRICS Bank to keep borrowers' interest in mind: Kamath

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.

09 Jul 2015

Strong economic cooperation required among BRICS nations: Modi

Prime Minister Narendra Modi on Thursday said that a strong economic cooperation is required among the BRICS nations.

08 Jul 2015

NDB to set its own standards; no rivalry with others: Kamath

Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.

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