BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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USD 200 billion
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USD 300 billion
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USD 500 billion
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USD 100 billion
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Detailed explanation-1: -The sixth BRICS summit was the sixth annual diplomatic gathering of major emerging countries Brazil, Russia, India, China, and South Africa. The presidents signed the Agreement establishing the New Development Bank during the Sixth BRICS Summit in Fortaleza, Brazil, in 2014. (NDB).
Detailed explanation-2: -The Bank is headquartered in Shanghai, China with regional offices in South Africa and Brazil. Mr. K.V. Kamath from India was the first President of the NDB (2015-2020).
Detailed explanation-3: -Q. Which country is the new member of the BRICS New Development Bank (NDB)? Notes: The BRICS New Development Bank (NDB) announced that it will add Egypt as its new member. NDB was established by BRICS nations, namely Brazil, Russia, India, China, and South Africa, in the year 2015.
Detailed explanation-4: -The NDB is a multilateral financial institution established by the BRICS countries, namely, Brazil, Russia, India, China and South Africa. The purpose of NDB is to fund sustainable development projects and infrastructure projects in the BRICS countries and other developing countries and emerging markets.