..... bank has recently (in May 2016) became the first financial Institution of India to tie up with the BRICS Grouping promoted New Development Bank for a patnership in bond issuances

INDIAN ECONOMY

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

____ bank has recently (in May 2016) became the first financial Institution of India to tie up with the BRICS Grouping promoted New Development Bank for a patnership in bond issuances

A	SBI
B	ICICI
C	PNB
D	AXIS BANK

Explanation:

Detailed explanation-1: -ICICI Bank has became the first financial institution in the country that has tied up with the BRICS Grouping promoted New Development Bank (NDB) for a partnership in bond issuances, co-financing, treasury management and human resources.

Detailed explanation-2: -In September 2021, Bangladesh, the United Arab Emirates and Uruguay joined the NDB. In December 2021, the NDB admitted Egypt as a new member.

Detailed explanation-3: -New Development Bank (NDB) is a multilateral development bank established by BRICS countries which have a combined share of 24% of global GDP* and 16% share in world trade*. The idea of setting up NDB was first conceived in 2012 during BRICS Summit in New Delhi, India.

Detailed explanation-4: -The correct answer is New Development Bank. The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states.

There is 1 question to complete.

GENERAL KNOWLEDGE

GK

INDIAN ECONOMY