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  • BRICS members have similar approach to governance of global economy: PM Jun 23, 2022 06:38 PM IST

    BRICS members have similar approach to governance of global economy: PM

    The Prime Minister said this in his opening remarks at the virtual BRICS annual summit in presence of Chinese President Xi Jinping, Russian President Vladimir Putin and top leaders of Brazil and South Africa. The summit is being hosted by China as the Chair for this year.

  • BRICS bank to open India's regional office in GIFT City in Gujarat May 20, 2022 07:21 PM IST

    BRICS bank to open India's regional office in GIFT City in Gujarat

    Working in close coordination with the NDB Headquarters, the Indian Regional Office will focus on project origination

  • New Development Bank seeks to co-finance trade infrastructure projects with India Exim Bank May 05, 2022 10:10 PM IST

    New Development Bank seeks to co-finance trade infrastructure projects with India Exim Bank

    The Shanghai-headquartered NDB has requested India Exim Bank to identify priority projects, especially ones including technological aspects, on which both can partner. Any prospective partnership will be the first time that Indian export finance authorities work together with China, considered a global competitor in the space.

  • Government reappoints Shaktikanta Das as RBI Governor for 3-years Oct 29, 2021 07:20 AM IST

    Government reappoints Shaktikanta Das as RBI Governor for 3-years

    Shaktikanta Das also served as India’s Alternate Governor in the World Bank, Asian Development Bank (ADB), New Development Bank (NDB) and Asian Infrastructure Investment Bank (AIIB)

  • NDB, Government sign $646 million loan pact for State Highway & District Road Network in Andhra Pradesh Jan 06, 2021 08:42 PM IST

    NDB, Government sign $646 million loan pact for State Highway & District Road Network in Andhra Pradesh

    The projects will be implemented by the Government of Andhra Pradesh through Roads and Buildings Department.

  • Centre, NDB sign $1,000 million loan pact to support India's economic recovery from COVID-19 pandemic Dec 16, 2020 06:51 PM IST

    Centre, NDB sign $1,000 million loan pact to support India's economic recovery from COVID-19 pandemic

    The loan amount will be used to fund expenditures on rural infrastructure and rural employment generation under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), in order to revive rural economy

  • Indianomics: Situation like 2003 with new momentum for economy, says KV Kamath Dec 02, 2020 08:26 PM IST

    Indianomics: Situation like 2003 with new momentum for economy, says KV Kamath

    Kamath said that interest rates are truly moving down and there is no better tonic than low interest rates to drive demand. He also complimented the government on extension of ECLGS scheme.

  • NDB, government sign $500 million loan pact for Delhi-Meerut RRTS corridor Nov 19, 2020 08:36 PM IST

    NDB, government sign $500 million loan pact for Delhi-Meerut RRTS corridor

    The proceeds will be utilised to finance rolling stock, signaling system, operational structures, residences for operational staff, train control and telecommunication system and other miscellaneous works of the corridor, NCRTC said in a statement.

  • BRICS' NDB approves loans for Mumbai Metro, Delhi-Ghaziabad-Meerut RRTS Sep 30, 2020 05:46 PM IST

    BRICS' NDB approves loans for Mumbai Metro, Delhi-Ghaziabad-Meerut RRTS

    The Mumbai Metro Rail II Project aims to improve Mumbai’s transport and traffic conditions by providing a modern metro system, featuring high-capacity, safe and comfortable mode of transport, BRICS said.

  • Need for growing NDB into global development institution: FM Nirmala Sitharaman May 27, 2020 09:21 PM IST

    Need for growing NDB into global development institution: FM Nirmala Sitharaman

    She commended the contribution of NDB in funding the infrastructure development, which has positively impacted the development agenda of the member countries, including India.

  • New Development Bank should enhance emergency facility to $10 billion: FM Sitharaman Apr 20, 2020 11:14 PM IST

    New Development Bank should enhance emergency facility to $10 billion: FM Sitharaman

    Sitharaman mentioned about Prime Minister Narendra Modi's initiative of creating a COVID-19 Emergency Fund and India's efforts in supplying critical medicine to the needy countries to tackle the COVID-19, an official statement said.

  • BRICS bank looks to tap into Indian Rupee offshore market Aug 22, 2019 04:45 PM IST

    BRICS bank looks to tap into Indian Rupee offshore market

    The Shanghai-based NDB - floated by Brazil, Russia, India, China and South Africa (BRICS) - is headed by renowned Indian banker K V Kamath.

  • Brics summit 2017: Xi Jinping says China will give $76 million for BRICS cooperation plan Sep 04, 2017 10:06 AM IST

    Brics summit 2017: Xi Jinping says China will give $76 million for BRICS cooperation plan

    Xi also told a plenary session at a BRICS leaders' summit in the southeastern Chinese city of Xiamen that China would give $4 million for projects at the BRICS countries' New Development Bank.

  • Arun Jaitley, K V Kamath discuss NDB's India operations, project pipeline Apr 03, 2017 08:30 AM IST

    Arun Jaitley, K V Kamath discuss NDB's India operations, project pipeline

    The bilateral meeting, which took place yesterday, focused on the steps required in expanding the bank's operations in India, including project pipeline.

  • India seeks $2 bn funding from NDB, wants it 'nimble-footed' Apr 01, 2017 03:29 PM IST

    India seeks $2 bn funding from NDB, wants it 'nimble-footed'

    Stating that the NDB -- set up by the BRICS bloc two years ago -- must be alive to the role envisioned for it by its founders, he said India has a huge unmet need for infrastructure investment, estimated at about Rs 43 lakh crore (about USD 646 billion) over the next five years.

  • NDB invests $1.5 bn in 7 projects in 2 years of operation Apr 01, 2017 03:03 PM IST

    NDB invests $1.5 bn in 7 projects in 2 years of operation

    Addressing the second annual meeting of the NDB here, Kamath said the bank had signed its first loan agreement for a project in China in December last year.

  • India to grow at 7.7% in 2018; EMs face newer challenges: Arun Jaitley Apr 01, 2017 11:47 AM IST

    India to grow at 7.7% in 2018; EMs face newer challenges: Arun Jaitley

    Speaking at the second annual meeting of the New Development Bank (NDB) here, Jaitley said global growth is moving upwards and is expected to improve further in 2017-18.

  • GST may add 1-1.5% to GDP; NPA resolution plus pvt capex to add extra 1%: KV Kamath Mar 31, 2017 10:41 AM IST

    GST may add 1-1.5% to GDP; NPA resolution plus pvt capex to add extra 1%: KV Kamath

    GST would add 1-1.5% to GDP. NPA resolution and come back of private capex would add another 1%, said KV Kamath, President, New Development Bank.

  • BRICS development bank plans to fund $3 billion worth of projects in 2017 Mar 30, 2017 07:17 PM IST

    BRICS development bank plans to fund $3 billion worth of projects in 2017

    The New Development Bank set up by the BRICS group of emerging economies plans to fund 15 infrastructure projects in member countries worth upto USD 3 billion this year, the bank's president, KV Kamath, said on Thursday.

  • 'BRICS Bank to finance technological innovation projects' Feb 26, 2017 12:52 PM IST

    'BRICS Bank to finance technological innovation projects'

    The New Development Bank (NDB) set up by the BRICS plans to provide lending to technological innovation projects, its vice president Zhu Xian has said.

  • MP govt to seek loan from NDB for repair of state roads Jan 30, 2017 02:38 PM IST

    MP govt to seek loan from NDB for repair of state roads

    "The state Cabinet chaired by the Chief Minister Shivraj Singh Chouhan decided to seek a loan equal to 70 percent of Rs 3,400 crore required for repair and renewal of major district roads," MP's Finance Minister Jayant Malaiya informed after the Cabinet meeting here this afternoon.

  • See potential in India; growth to improve after small dip: NDB Jan 18, 2017 04:00 PM IST

    See potential in India; growth to improve after small dip: NDB

    If bond yields drop by even a percent, it may lead to profits of more than Rs 150,000 crore for the banking system. This could help them transfer these profits by reducing lending rates and help the economy make a come back.

  • Enhance cooperation to protect common interests: Xi to BRICS Jan 02, 2017 03:58 PM IST

    Enhance cooperation to protect common interests: Xi to BRICS

    BRICS countries should enhance solidarity, cooperation and safeguard common interests as they face growing uncertainties and instabilities in international situations, according to Chinese President Xi Jinping, who assumes the Presidency of the five-member bloc this year.

  • BRICS bank grants $350 million loan for MP road project Nov 23, 2016 09:30 AM IST

    BRICS bank grants $350 million loan for MP road project

    The NDB announced that its Board of Directors (BoD) has approved two loans for projects in China and India - Putian Pinghai Bay Offshore Wind Power Project (RMB 2 billion) and Madhya Pradesh Major District Roads Project (USD 350 million).

  • Interest rates to come down by 1% in 3-6 months: Kamath Nov 15, 2016 07:44 PM IST

    Interest rates to come down by 1% in 3-6 months: Kamath

    Unaccounted money coming out of the system will have a positive impact on inflation, he said, adding that the combined impact of all these would lead to at least 1 percent cut in the interest rate.