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Consider the following statements regarding the New Development Bank (NDB).
1. New Development Bank is a multilateral development bank established by the BRICS states during Second BRICS Summit.
2. The Bank shall support public or private projects through loans, guarantees and equity participation and also provide technical assistance for projects to be supported by the Bank.
3. The initial subscribed capital of the Bank was equally distributed among the founding members.
Which of the above statements is/are correct?
  • a)
    1 and 2 only
  • b)
    1 and 3 only
  • c)
    2 and 3 only
  • d)
    All of the above
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Consider the following statements regarding the New Development Bank ...
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states. According to the Agreement on the NDB, "the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments." Moreover, the NDB "shall cooperate with international organisations and other financial entities, and provide technical assistance for projects to be supported by the Bank."
It was established in 2014, at the 6th BRICS Summit at Fortaleza, Brazil.
The Bank's initial authorised capital is $100 billion divided into 1 million shares having a par value of $100,000 each. The initial subscribed capital of the NDB is $50 billion divided into paid-in shares ($10 billion) and callable shares ($40 billion). The initial subscribed capital of the Bank was equally distributed among the founding members. The Agreement on the NDB specifies that every member will have one vote no one would have any veto powers.
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Consider the following statements regarding the New Development Bank (NDB).1. New Development Bank is a multilateral development bank established by the BRICS states during Second BRICS Summit.2. The Bank shall support public or private projects through loans, guarantees and equity participation and also provide technical assistance for projects to be supported by the Bank.3. The initial subscribed capital of the Bank was equally distributed among the founding members.Which of the above statements is/are correct?a) 1 and 2 onlyb) 1 and 3 onlyc) 2 and 3 onlyd) All of the aboveCorrect answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding the New Development Bank (NDB).1. New Development Bank is a multilateral development bank established by the BRICS states during Second BRICS Summit.2. The Bank shall support public or private projects through loans, guarantees and equity participation and also provide technical assistance for projects to be supported by the Bank.3. The initial subscribed capital of the Bank was equally distributed among the founding members.Which of the above statements is/are correct?a) 1 and 2 onlyb) 1 and 3 onlyc) 2 and 3 onlyd) All of the aboveCorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the New Development Bank (NDB).1. New Development Bank is a multilateral development bank established by the BRICS states during Second BRICS Summit.2. The Bank shall support public or private projects through loans, guarantees and equity participation and also provide technical assistance for projects to be supported by the Bank.3. The initial subscribed capital of the Bank was equally distributed among the founding members.Which of the above statements is/are correct?a) 1 and 2 onlyb) 1 and 3 onlyc) 2 and 3 onlyd) All of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the New Development Bank (NDB).1. New Development Bank is a multilateral development bank established by the BRICS states during Second BRICS Summit.2. The Bank shall support public or private projects through loans, guarantees and equity participation and also provide technical assistance for projects to be supported by the Bank.3. The initial subscribed capital of the Bank was equally distributed among the founding members.Which of the above statements is/are correct?a) 1 and 2 onlyb) 1 and 3 onlyc) 2 and 3 onlyd) All of the aboveCorrect answer is option 'C'. Can you explain this answer?.
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