E-PaperNew Development Bank News
BRICS' New Development Bank provides $1 billion loan to India to fight corona
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
2 min read13 May 2020Countering terrorism top priority of BRICS
The BRICS Sherpa meeting was held in Brazil's Curitiba city between March 14 and March 15T.S. Tirumurti, Secretary (Economic Relations) in the MEA, led the Indian delegation at the meeting
1 min read16 Mar 2019BRICS bank approves $525 million loan for infra projects in Madhya Pradesh
The loan will be used by the Indian government for on-lending to the Madhya Pradesh government to improve the connectivity of the rural interior with the national and state highway networks
1 min read20 Sep 2018The idea of a rating agency is very widely supported: NDB’s Leslie Maasdorp
All multilateral development banks probably can only fill up 10-15% of the total funding needed in infrastructure, says New Development Bank CFO Leslie Maasdorp
7 min read16 Jul 2018BRICS development bank to expand lending to private sector
Brics New Development Bank CEO Zhu Xian says targeting an overall 70-30 split between sovereign and non-sovereign loans in its project portfolio
1 min read29 May 2018Brics Bank approves $400 million loans for India, Russia
Brics New Development Bank has approved two infrastructure and sustainable development projects in India and Russia with loans of $400 million
1 min read21 Nov 2017Xi Jinping asks Brics Business Council, NDB to ensure more cooperation
Xi Jinping has called on the Brics Business Council and the New Development Bank (NDB) to ensure greater cooperation among countries
2 min read5 Sep 2017Five banks of Brics nations sign pact for credit lines: report
Five banks of the Brics Bank Cooperation Mechanism have agreed to establish credit lines in the national currencies and cooperate on credit ratings
1 min read2 Sep 2017Brics bank plans to issue rupee, yuan bonds this year: KV Kamath
KV Kamath said the New Development Bank plans to lend $2.5-3 billion to fund 15 projects to member-states this year, up from $1.5 billion for seven projects in 2016
1 min read14 Apr 2017Criteria being worked out for new NDB membership: K.V. Kamath
K.V. Kamath says the terms and conditions for New Development Bank (NDB) membership have been approved by the board at its meeting on Saturday
2 min read1 Apr 2017Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared