Top officials of BRICS Bank to be finalised by end of May

Last Updated: Friday, May 8, 2015, 21:11

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.

India close to picking candidate for New Development Bank

Last Updated: Monday, April 20, 2015, 19:37

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.

RBI Governor Raghuram Rajan brushes off talk of top IMF role: Report

Last Updated: Wednesday, April 8, 2015, 10:36

The head of RBI, Raghuram Rajan, has brushed off talk that he could be a candidate for the top job at the International Monetary Fund when Christine Lagarde`s term ends next year, according to a newspaper interview.

Cabinet approves creation of BRICS bank

Last Updated: Wednesday, February 25, 2015, 21:54

India will hold the Presidency of the USD 100-billion NDB for the first six years. The Bank will be based in Shanghai, China's financial hub.

BRICS bank should be operational by Aug 2016: Business Council

Last Updated: Thursday, February 19, 2015, 18:26

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.

FinMin floats Cabinet note on BRICS Bank participation

Last Updated: Sunday, February 8, 2015, 13:10

The Finance Ministry has moved the Cabinet seeking approval for India's participation in the BRICS Bank as well as for nominating the first president of the multi-nation development bank.

'BRICS bank's bonds must have liquidity for realisation'

Last Updated: Wednesday, December 24, 2014, 16:58

Former RBI Governor C Rangarajan on Wednesday said the bonds to be floated by the New Development Bank promoted by the BRICS countries should have liquidity to ensure their easy realisation.

BRICS expediting efforts to set up NDB at the earliest: India

Last Updated: Monday, December 15, 2014, 18:59

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.

BRICS warns against US monetary stimulus withdrawal

Last Updated: Thursday, September 5, 2013, 20:18

"They emphasised that the eventual normalisation of monetary policies needs to be effectively and carefully calibrated and clearly communicated," it said.

BRICS agree on bank's structure, progress difficult: Russia

Last Updated: Monday, September 2, 2013, 08:55

The establishment of the development bank aimed at providing funds for infrastructure projects has been slow in coming, with prolonged disagreement over funding and management of the institution.

BRICS bank pillars could be ready next year: Brazil

Last Updated: Wednesday, July 31, 2013, 09:51

At their March summit in the South African city of Durban, leaders of the BRICS -- Brazil, Russia, India, China and South Africa -- failed to launch the much-anticipated bank.

Setting up BRICS Bank will not be easy: ADB Chief

Last Updated: Thursday, May 2, 2013, 19:23

Describing banking business as "difficult and cumbersome" process, newly elected chief of Asian Development Bank (ADB) Takehiko Nakao on Thursday said setting up of the proposed BRICS Bank would not be easy.