CURRENT AFFAIRS

Detailed explanation-1: -The 6th BRICS Youth Summit under the theme “BRICS: Challenges of the Time for young people” was held in hybrid (both online and offline) format in 2020.

Detailed explanation-2: -The BRICS Youth Innovation Summit aims to create a BRICS-orientated space that will empower and support young entrepreneurs and innovators already undertaking projects with a prosocial impact in the real world.

Detailed explanation-3: -Under the theme of “Foster High-quality BRICS Partnership, Usher in a New Era for Global Development”, leaders of the five countries held in-depth exchange of views on BRICS cooperation in various sectors and major issues of common concern and reached important consensus.

Detailed explanation-4: -PM Narendra Modi attended the 12th BRICS Summit on 17 Nov 2020. It was hosted by Russia, under the theme Global Stability, Shared Security and Innovative Growth. India will be taking over the Chairship of the BRICS, which would be the third BRICS Presidency for India since its inception after 2012 and 2016.

Detailed explanation-5: -The 6th BRICS summit resulted in the official inauguration of the New Development Bank, a multilateral development bank intended as an alternative to the World Bank and International Monetary Fund.