BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Recently, the BRICS countries firmed up plan to set up a New Development Bank (NDB) with an initial authorised capital of$ 100 billion. The NDB will be headquartered in?

A	New Delhi
B	Shanghai
C	Moscow
D	Johanesburg

Explanation:

Detailed explanation-1: -India welcomed Egypt’s entry as the fourth new member of the New Development Bank (NDB). The NDB admitted Bangladesh, United Arab Emirates (UAE), and Uruguay as its new members in September 2021.

Detailed explanation-2: -India will hold the presidency of the BRICS New Development Bank for the first six years. The Bank will be based in Shanghai, China. Indias presidency will be followed by Brazil and Russia, who will have five year terms each.

Detailed explanation-3: -Home-New Development Bank. Established in 2015 by BRICS countries, the New Development Bank is a multilateral development bank aimed at mobilising resources for infrastructure and sustainable development projects in BRICS and other EMDCs.

There is 1 question to complete.