BRICS Current Affairs

India pitches for independent BRICS credit rating agency

India has pressed the BRICS (Brazil, Russia, India, China and South Africa) nations to set up an independent credit rating agency of the five-member group. It was on sidelines of the first meeting of BRICS Finance Ministers and Central Bank Governors held along with IMF/World Bank Spring Meetings in Washington, US. Key Facts India sought Read More…

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Cabinet approves pacts signed by Exim Bank under BRICS mechanism

The Cabinet has approved signing of Interbank Local Currency Credit Line Agreement and Cooperation Memorandum relating to Credit Ratings by Exim Bank with member banks under BRICS Interbank Cooperation Mechanism. These agreements were highlighted in BRICS Leaders Xiamen Declaration adopted in Xiamen, China in September 2017. Cabinet has authorized Board of Directors of Exim Bank Read More…

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Five banks of BRICS nations sign pact for credit lines

Five banks of BRICS Interbank Cooperation Mechanism (ICM) have agreed to establish local currency credit lines and develop cooperation on credit ratings. In this regard, they have signed agreement ahead of 9th BRICS summit to be held in Xiamen, China. These five banks are Brazilian Development Bank, Russia’s Vnesheconombank, Export-Import Bank of India (EXIM), China Read More…

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BRICS nations vow to fight protectionism

India and other four other members of the BRICS grouping members (Brazil, Russia, China and South Africa) have pledged to fight protectionism. Decision in this regard was taken at the two-day meeting of the trade ministers from BRICS nations held at Shanghai, China. They released joint statement highlighting various issues and need to address them collectively. Read More…

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Cabinet approves MoU to set up BRICS Agriculture Research Platform

The Union Cabinet has approved for a Memorandum of Understanding (MoU) signed among India and various BRICs countries for establishment of the BRICS Agriculture Research Platform (BRICS-ARP). The BRICS-ARP will promote sustainable agricultural development and poverty alleviation through strategic cooperation in agriculture to provide food security in the BRICS member countries. BRICS Agriculture Research Platform Read More…

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