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BRICS' New Development Bank provides USD 1 billion loan to India to fight COVID-19
The Shanghai-based New Development Bank (NDB) was established by the BRICS (Brazil, Russia, India, China, South Africa) countries in 2014 and is headed by veteran Indian banker K V Kamath. The purpose of the bank is to mobilise resources for infrastructure and sustainable development projects in BRICS countries.
Brazil's Marcos Troyjo to succeed KV Kamath as NDB President
Brazil's Marcos Troyjo will succeed India’s KV Kamath as president of the New De...
India pitches to enhance New Development Bank's emergency assistance from $ 1 billion to $ 10 billion
The issue was flagged by union finance ...
Economy likely to turn around much quicker than expected: KV Kamath, Former President, New Development Bank
Jobs are returning, farm output is expanding, and the extent of leverage for 80 of the 100 top companies remains rather low, says KV Kamath, Former President, New Development Bank
Fund managers must redraw strategy, spot new stocks for growth: Kamath
'India is a far better place than what it was in 2000. Debt-to-equity ratio of Sensex companies, which is a bunch to large corporate houses, was at 3.8:1 back then.'
Northeast has potential to become India's growth engine, says PM Narendra Modi
The prime minister noted that the government is making constant efforts to improve connectivity in the northeast region, be its highways, laying of rail tracks or upgradation of airports.
Banks need to step up lending to businesses: KV Kamath
As India’s border dispute with China spills over to economic and business activities, Indian businesses should indigenise as they have acquired enormous capacity in the past decade, he said.
Low interest rate regime critical for survival of banks: KV Kamath
KV Kamath has pitched for a low interest regime, saying it is critical for survival of banks at this juncture.
Expansion of bank membership on agenda of BRICS Summit
The summit will suggest BRICS, or the New Development Bank (NDB) board, to consider expansion of membership. Entrants to the Bank could be from Asia, Africa, Eurasia and Latin America. The expansion issue of the Shanghai-headquartered Bank has been on the agenda of BRICS members in the run-up to the summit, officials told ET.
Lockdown, Day 50: Sitharaman sets the stage
The government pledged Rs 20,000 lakh crores to take the fight to the coronavirus pandemic which has butchered the Indian economy, even as major Indian states stand to lose 97,100 crore in April alone
Assam to get funding from New Development Bank for six lane extra dosed bridge over river Brahmaputra in Guwahati
The foundation stone of the bridge was laid by Prime Minister Narendra Modi on February 9, 2019, as the length of the six lane project will be 8.4 km with approach road on both sides of the Brahmaputra as the length of the actual bridge over the river will be 1.24 km. The project is estimated to be completed within four years.
BRICS Bank to loan up to $ 15 billion to boost economies of member states
On Tuesday BRICS Foreign Ministers met through a video-conference and discussions centred around COVID-19 crisis, its impact and BRICS response. The BRICS Foreign Ministers also discussed the activities to be undertaken under Russian BRICS Chairmanship in 2020.
BRICS to adopt anti-Covid strategy as India pushes momentum to group
This will be the first BRICS meet since the outbreak of the coronavirus pandemic, although all the five emerging powers have been part of the G-20 leaders meet and several G-20 ministerial- and official-level meetings.
BRICS Summit: PM Modi calls for early opening of New Development Bank's regional office in India
"I request that the work of establishing the regional office of the NDB in India should be completed soon. This will give a boost to projects in our priority areas," Modi said as he offered full backing to the multilateral finance institution in promoting global growth.
BRICS summit to focus on strengthening counter-terror cooperation: PM Modi
PM Modi, who will be in Brazil on 13-14 November to attend the 11th BRICS Summit, said he will also meet Brazilian President Jair Bolsonaro to discuss ways to enhance the bilateral strategic partnership.