CURRENT AFFAIRS

2018

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

Which state gets $525 Million Loan for Infra Projects from BRICS Bank?

A	Madhya Pradesh
B	Kerala
C	Tamil Nadu
D	Andhra Pradesh

Explanation:

Detailed explanation-1: -The headquarters of the BRICS Bank is in Shanghai. In 2015, K V Kamath, a veteran Indian banker was appointed as the first President of the bank.

Detailed explanation-2: -The New Development Bank (NDB) was established in 2015 by BRICS countries – Brazil, Russia, India, China and South Africa.

Detailed explanation-3: -Detailed Solution: On 15 July 2014, the first day of the 6th BRICS summit held in Fortaleza, Brazil, the BRICS states signed the Agreement on the New Development Bank, which makes provisions for the legal basis of the bank.

Detailed explanation-4: -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.