Brics Bank

Older players will have to learn from fintechs to drive innovation, says KV Kamath

Speaking exclusively to Moneycontrol, Kamath has said while innovation cannot happen without being on the edge, it is important for companies to play within the boundary lines

BRICS bank receives AA+ credit rating from S&P

The NDB was founded by the BRICS member countries Brazil, Russia, India, China and South Africa during the group's sixth summit in Fortaleza, Brazil in July 2014 and formally opened in Shanghai in July 2015.

Opposition can't digest PM's move to fight black money: Naidu

Ruling out the possibility of a roll back, he attacked Mamata Banerjee and said that the West Bengal Chief Minister's demands of a roll back of the decision is only making her "unpopular".

PM Modi one of top 10 world leaders: Venkaiah Naidu

"India is now recognised and respected worldwide. Country after country is offering red carpet to our Prime Minister. He is now among top 10 world leaders. He has emerged as one among top 10 leaders with his initiatives and approach.

NDA govt on track to change 'face of economic growth': KV Kamath

The BRICS-led New Development Bank (NDB) is working towards achieving sustainable infrastructure growth and is inking partnerships with various financial institutions in India and other emerging economies, says KV Kamath.

BRICS bank okays first loans, $811 mn for green energy: Report

The BRICS bank, with authorised capital of USD 100 billion, started work last year on funding initiatives for infrastructure projects in emerging markets and in its initial foray has lent USD 300 million to Brazil, USD 81 million to China, USD 250 million to India and USD 180 million to South Africa, RIA news agency said.

ICICI in great hands with Chanda Kochhar as CEO: KV Kamath

"ICICI Bank is in great hands.Chanda will take it to greater heights and I have no doubts about it," said Kamath, who relinquished his position as bank's Chairman earlier this month to take up the responsibility as the first President of the BRICS nations' USD 100-billion New Development Bank (NDB).

Rise of BRICS nations inevitable, says Chinese daily

The meeting of the five leaders of the BRICS countries - Brazil, Russia, India, China, and South Africa - in Ufa, Russia, is "seen as vitally important to strengthen relations among the nations".

BRICS bank to finance energy projects from next year: Putin

Russian President Vladimir Putin said on Thursday that a new BRICS bank would become fully operational and finance energy projects next year as emerging markets attempt to challenge the Western-dominated financial system.

India,Russia sign MoU for funding of hydro-power projects

In a significant step in economic cooperation, Russia's Direct Investment Fund (RDIF) on Wednesday signed an MoU with India's Infrastructure Development Finance Company (IDFC) for funding of hydro-generation projects.

India to contribute 18 billion to BRICS forex reserves pool

Brazil, Russia, India, China and South Africa have signed an agreement to set up the USD 100 billion pool, with maximum USD 41 billion coming from China.

China parliament ratifies BRICS Bank agreement

The New Development Bank, also known as the BRICS Bank, is one of two international development banks that China is promoting as an alternative to western institutions such as the World Bank.

Looking forward to serve BRICS nations: KV Kamath

Leaders of the emerging economies of Brazil, Russia, India, China and South Africa (BRICS) had last year reached an agreement to establish the New Development Bank, with its headquarters in Shanghai.

ICICI Bank to expand China presence with Shanghai branch

The branch is likely to be inaugurated on Saturday by Prime Minister Narendra Modi, who is on a three-day visit to China. ICICI Bank's Managing Director and CEO Chanda Kochhar will also be present.

Cabinet nod to BRICS bank for contingency fund, dev projs

The setting up of the New Development Bank (NDB) and BRICS Contingent Reserve Arrangement (CRA) is for mobilising resources for infrastructure projects and providing short-term liquidity support to emerging economies in case of Balance of Payment crisis, said an official statement.