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BRICS Bank News

20 Sep 2018

BRICS bank approves $525-million loan for infra projects in MP

The Board of Directors of the NDB on Wednesday approved a USD 350-million loan for the Major District Roads Project II of Madhya Pradesh and USD 175 million for building and upgrading 350 bridges.

16 Oct 2016

NPA not an issue, rate cuts to fetch Rs 2.5 trillion gains: K V Kamath

Seeking to allay fears arising from dud loans pile-up, veteran banker K V Kamath said interest rate cuts will give troubled lenders Rs 2.5 trillion boost through treasury gains that will help the system tide over troubles and also ease pressure on growth capital.

05 Oct 2016

World powers 'misuse' World Bank, IMF: BRICS bank exec

Europe and the United States have "misused" the World Bank and International Monetary Fund for their own ends, according to an executive at a new bank launched by major developing countries.

BRICS countries

01 Jun 2016

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.

10 May 2016

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

28 Feb 2016

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.

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.

Christine Lagarde

08 Nov 2015

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.

23 Jul 2015

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.

22 Jul 2015

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.

22 Jul 2015

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.

21 Jul 2015

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.

21 Jul 2015

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.

12 Jul 2015

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.

09 Jul 2015

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

09 Jul 2015

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.

09 Jul 2015

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.

10 Jul 2015

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.

09 Jul 2015

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.

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