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.
Jul 08, 2015, 19:38 PM IST
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".
Jul 08, 2015, 16:16 PM IST
BRICS FMs discuss elements of development bank
On the eve of the BRICS Summit to be attended by Prime Minister Narendra Modi, Finance Ministers of the five member countries met today, focusing their discussions on the contours and other elements of the BRICS Development Bank.
Jul 08, 2015, 00:59 AM IST
BRICS nations agrees to create $100 billion forex pool
The 5-nation BRICS group Tuesday signed an agreement to create a USD 100 billion pool of foreign- exchange reserves to help each other "in case of any problems with dollar liquidity", with India chipping in USD 18 billion.
Jul 08, 2015, 00:47 AM IST
BRICS summit gives Putin a chance to show Russia not isolated
The BRICS emerging economies will launch a development bank at a summit this week which President Vladimir Putin hopes will help reduce Western dominance of world financial institutions and show Moscow is not isolated.
Jul 06, 2015, 21:09 PM IST
K V Kamath relinquishes ICICI Bank post
Kamath will be the first head of NDB set up by the BRICS Group of emerging market economies.
Jul 02, 2015, 15:48 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 01, 2015, 14:06 PM IST
57 countries hold signing ceremony to set up China-led bank: AFP
The 57 founding member countries of the China-led Asian Infrastructure Investment Bank began signing articles of association setting up the new institution on Monday.
Jun 29, 2015, 07:46 AM IST
BRICS bank to be operational by end of 2015: South Africa
The emerging market BRICS nations will have their own development bank by the end of the year, South Africa said Friday.
Jun 27, 2015, 03:48 AM IST
Germany to be fourth-biggest shareholder in AIIB: Document
Germany plans to take a 4.1 percent stake in the new China-led Asian Infrastructure Investment Bank (AIIB), making it the fourth-biggest member, according to a finance ministry draft document seen by Reuters on Tuesday.
Jun 09, 2015, 23:37 PM IST
Kamath showers fulsome praise on Modi government for 1st-yr reforms
He said that the long-term impact of various reforms announced by the Modi government over the past year will reap rich dividends for the country and for its ability to achieve and sustain high rates of growth.
May 31, 2015, 13:00 PM IST
Looking forward to serve BRICS nations: Kamath
Equal capital contribution has been decided so that the development bank does not fall into the ownership pattern of IMF and the World Bank.
May 15, 2015, 14:09 PM IST
KV Kamath to take over as BRICS Bank chief in 10 days: Govt
Eminent banker K V Kamath will take over as the first president of USD 100 billion BRICS bank in next 10 days after he resigns from various board positions he holds, Finance Secretary Rajiv Mehrishi said Thursday.
May 14, 2015, 17:10 PM IST
Kamath to resign from various boards, join BRICS Bank in next 10 days
India's eminent banker K.V. Kamath will resign from various boards and join BRICS Bank in next 10 days, Finance Secretary Rajiv Mehrishi said on Thursday.
May 14, 2015, 16:10 PM IST
KV Kamath named first President of BRICS New Development Bank
Eminent banker K V Kamath will be the first president of USD 100 billion BRICS Bank which will provide infrastructure loans to emerging nations, rivalling multilateral lenders such as World Bank and IMF.
May 11, 2015, 18:03 PM IST
Top officials of BRICS Bank to be finalised by end of May
The names of the top officials of the BRICS New Development Bank, including its President who will be from India, would be finalised by the end of this month, China's official media reported on Friday.
May 08, 2015, 21:11 PM IST
India close to picking candidate for New Development Bank
India is in the "final stages" of nominating candidate for the President's post of the USD 100-billion New Development Bank (NDB) to be headquartered in Shanghai, Finance Minister Arun Jaitley has informed fellow members of the five-nation BRICS bloc.
Apr 20, 2015, 19:37 PM IST
BRICS bank should be operational by Aug 2016: Business Council
Established in 2013, the BRICS Business Council comprises 25 prominent entrepreneurs from Brazil, Russia, India, China and South Africa, representing various industries and sectors in the BRICS nations.
Feb 19, 2015, 18:26 PM IST
BRICS expediting efforts to set up NDB at the earliest: India
India has said it has begun the internal process to set up the USD-100 billion New Development Bank (NDB) aimed at funding projects in developing nation, and hoped other BRICS members would also finalise the instruments of ratification at the earliest.
Dec 15, 2014, 18:59 PM IST
India Inc hails BRICS pact to set up New Development Bank
Terming as "historic" the pact on establishment of a New Development Bank at the BRICS Summit, India Inc Wednesday said the move was likely to strengthen economic cooperation between the five-nation grouping, help stave off future economic crises and boost infra development.
Jul 16, 2014, 19:29 PM IST