BRICS bank to start lending in local currency by April: Kamath

Last Updated: Friday, July 10, 2015, 12:26

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.

Modi proposes 10-point initiative for BRICS nations

Last Updated: Thursday, July 9, 2015, 20:38

India will be the next chair of BRICS for 11 months beginning February next year.

Unilateral sanctions hurting global economy: PM Modi

Last Updated: Thursday, July 9, 2015, 16:17

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.

BRICS Bank to keep borrowers' interest in mind: Kamath

Last Updated: Thursday, July 9, 2015, 14:23

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.

Strong economic cooperation required among BRICS nations: Modi

Last Updated: Thursday, July 9, 2015, 13:20

Prime Minister Narendra Modi on Thursday said that a strong economic cooperation is required among the BRICS nations.

NDB to set its own standards; no rivalry with others: Kamath

Last Updated: Wednesday, July 8, 2015, 19:38

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.