NEW DEVELOPMENT BANK Subject : International Organisations Context : Recently, the Union Finance Minister has urged the New Development Bank (NDB) to consider working closely with India’s new development financing institution for funding infrastructure. Concept : New Development Bank (NDB) It was proposed at the fourth BRICS Summit in New Delhi (2012) by […]

Subject : International Organisations Context: The government signed a loan agreement worth $1 billion with the New Development Bank (NDB) to support the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and India’s rural infrastructure. Concept : It is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa). […]