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.
Jul 24, 2015, 12:31 PM IST
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.
Jul 23, 2015, 18:33 PM IST
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.
Jul 22, 2015, 21:21 PM IST
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.
Jul 22, 2015, 21:11 PM IST
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.
Jul 21, 2015, 17:08 PM IST
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.
Jul 21, 2015, 09:34 AM IST
BRICS, AIIB banks to break IMF, WB monopoly: China think tank
The formation of the New Development Bank (NDB) by the BRICS nations along with the formation of the Asian Infrastructure Investment Bank (AIIB) will break the monopoly of the IMF and World Bank and make their functioning more democratic, a state-run Chinese think tank has said.
Jul 13, 2015, 18:40 PM IST
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.
Jul 12, 2015, 17:02 PM IST
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.
Jul 10, 2015, 15:32 PM IST
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.
Jul 10, 2015, 12:26 PM IST
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.
Jul 10, 2015, 00:24 AM IST
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.
Jul 09, 2015, 23:37 PM IST
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.
Jul 09, 2015, 23:34 PM IST
Modi proposes 10-point initiative for BRICS nations
India will be the next chair of BRICS for 11 months beginning February next year.
Jul 09, 2015, 20:38 PM IST
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.
Jul 09, 2015, 19:44 PM IST
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.
Jul 09, 2015, 18:34 PM IST
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.
Jul 09, 2015, 16:17 PM IST
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.
Jul 09, 2015, 14:23 PM IST
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.
Jul 09, 2015, 13:20 PM IST
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.
Jul 09, 2015, 00:38 AM IST