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BRICS summit 2015 News

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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