Question

Which one of the following statements with regard to New Development Bank BRICS, formerly referred to as the BRCIS Development Bank, is/ are correct?
The Headquarters of the Bank is situated at Moscow, Russia.
K. V. Kamath is the first President of the Bank.

Answer 1

The bank set up by Brazil, Russia, India has seen good results in the last two years and has a strong pipeline for the future, Kamath told the media at the bank's headquarters in Shanghai on the occasion of completing two years of its founding.

The bank has 23 projects at various stages of preparation for 2017 to 2018, with a total lending amount of $six billion, Kamath told reporters, including Indian journalists based in Beijing who were linked up online to the press meet.