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
Narendra Modi makes strong pitch for operationalisation of BRICS bank
Making a strong pitch for speeding up the creation of a BRICS development bank, Prime Minister Narendra Modi on Saturday said India hopes to ratify the agreement over the financial institution by year-end and 2016 should be set as the target for its inauguration.
Nov 15, 2014, 17:28 PM IST
BRICS leaders dissatisfied with slow IMF reforms
The BRICS leaders Saturday reaffirmed their disappointment and serious concern over the non-implementation of the 2010 International Monetary Fund (IMF) reforms at an informal meeting hours ahead of the G20 leaders summit in Brisbane.
Nov 15, 2014, 17:07 PM IST
Repatriation of black money, BRICS bank key priorities: PM Modi
Indian Prime Minister Narendra Modi Saturday said the repatriation of black money kept abroad was a key priority and called for "close coordination" on the issue during an informal meeting of the five-nation BRICS leaders here ahead of the G20.
Nov 15, 2014, 17:03 PM IST
World Bank chief welcomes new BRICS development bank
The BRICS developing nations - Brazil, Russia, India, China and South Africa - announced the bank last week, saying it would fund infrastructure projects in developing nations - a reflection of their growing importance in the world economy.
Jul 23, 2014, 21:09 PM IST
China picks site for BRICS bank: Reports
BRICS leaders agreed to put its headquarters in China`s commercial hub of Shanghai, which is seeking to become an international financial centre.
Jul 17, 2014, 12:39 PM IST
BRICS bank opens cooperation opportunities with S America: PM
Prime Minister Narendra Modi has said the establishment of the BRICS development bank opens up newer opportunities of cooperation with nations of South America.
Jul 17, 2014, 09:13 AM IST
IMF welcomes establishment of BRICS bank
The International Monetary Fund has welcomed the move to set up a new BRICS development bank stating that it is ready to work with the Bank's leadership.
Jul 17, 2014, 08:53 AM 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
BRICS bank to get going in 2 yrs; India to head for 6 yrs
India's presidency will be followed by Brazil and Russia who will have five years term each under an agreement reached after intense negotiations among the five country-grouping BRICS -Brazil, Russia, India, China and South Africa.
Jul 16, 2014, 18:31 PM IST
Chidambaram welcomes setting up of $100 billion BRICS Bank
Welcoming setting up of the BRICS Bank, former Finance Minister P Chidambaram today said the work initiated by United Progressive Alliance (UPA) government last year has led to its culmination in Brazil yesterday.
Jul 16, 2014, 14:29 PM IST
BRICS create development bank; first prez from India
In a major victory for India, the BRICS Summit Tuesday night decided to establish the new development bank with an initial authorised capital of USD 100 billion for which the initial subscribed capital will be equally shared by the founding members.
Jul 16, 2014, 00:10 AM IST
BRICS: Modi pitches for rule-based, international trading regime
At the summit, which is likely to establish the new BRICS bank, he said the member countries should ensure these institutions-- New Development Bank, Contingent Reserve Arrangement-- establish a new model.
Jul 15, 2014, 22:48 PM IST
BRICS members likely to have equal shareholding in new bank
The BRICS Summit, Prime Minister Narendra Modi's first multilateral engagement, commenced Tuesday amid an understanding that the 5-member nations will have equal shareholding in the proposed USD 50 billion BRICS Development Bank which India had been strongly pressing for.
Jul 15, 2014, 20:04 PM IST
BRICS to create development bank, `mini-IMF`
Leaders of the BRICS group of emerging powers meet Tuesday to launch a new development bank and a reserve fund seen as counterweights to Western-led financial institutions.
Jul 15, 2014, 15:12 PM IST
BRICS nations commit to refrain from protectionist measures
BRICS nations, including India, on Tuesday expressed commitment to refrain from taking any protectionist measures and improve policy coordination to enhance trade and investment.
Jul 15, 2014, 14:04 PM IST
Negotiations to launch new BRICS bank hit snag: Source
Negotiations have stalled for now on a dispute between China, India and South Africa over who will host the bank.
Jul 15, 2014, 09:41 AM IST
Modi to press for equal shareholding in proposed BRICS bank
Prime Minister Narendra Modi will launch his first multilateral engagement in this seaside city of Brazil, meeting Russian President Vladimir Putin and Chinese President Xi Jinping ahead of Tuesday's BRICS Summit at which India will press for equal shareholding for its five member countries in the proposed USD 50 billion BRICS Development Bank so that no shareholder dominates.
Jul 14, 2014, 17:33 PM IST
BRICS bank to defy Western clout in global finances
Leaders of the BRICS emerging market nations meet next week to launch a development bank and emergency reserves fund, an ambitious challenge to Western-run multilaterals that have shaped global finances since the end of World War Two.
Jul 12, 2014, 00:07 AM IST
