Banking Awareness Set 82 (BRICS NDB Bank)

Important questions on BRICS New Development Bank for upcoming banks and insurance exams SBI PO, Dena bank, IBPS PO, IBPS Clerk, RRB PO and Clerk, RBI.

  1. Where is the headquarters of BRICS New Development Bank situated?
    A) Beijing, China
    B) Moscow, Russia 

    C) Cape Town, South Africa 
    D) Shanghai, China
    View Answer
    Option D
    Some Extra
    The idea for setting up the bank was proposed by India at the 4th BRICS summit in 2012 held in Delhi.The creation of a new development bank was the main theme of the meeting.
  2. When was South Africa inducted into BRIC (Brazil, Russia, India, China) to form BRICS?
    A) 2009
    B) 2011
    C) 2008
    D) 2010
    View Answer
    Option D
    Some Extra:
    BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. Originally the first four were grouped as “BRIC” (or “the BRICs”), before the induction of South Africa in 2010.
  3. When did the BRICS states signed the Agreement on the New Development Bank, which makes provisions for the legal basis of the bank?
    A) 2013
    B) 2014
    C) 2015
    D) 2012
    View Answer
    Option B
    Some Extra:
    On 15 July 2014, the first day of the 6th BRICS summit held in Fortaleza, Brazil, the BRICS states signed the Agreement on the New Development Bank, which makes provisions for the legal basis of the bank.
    In a separate agreement, a reserve currency pool worth $100 bln was set up by BRICS nations.
    July 2014 (Treaty signed)
    July 2015 (Treaty in force)
  4. Where will the first regional office of the BRICS New Development Bank be set up?
    A) New Delhi, India
    B) Johannesburg, South Africa
    C) Beijing, China
    D) Fortaleza, Brazil
    View Answer
    Option B
    Some Extra:
    The government had mandated, that with effect from April 1, 2017, all goods vehicles of category N2 and N3, have to be fitted with an air conditioning system for the cabin. Now the last date for trucks to have air conditioned cabins for drivers, a mandatory norm by the central government, has been extended to December 31, 2017.
  5. What is the initial authorized capital of the BRICS New Development Bank?
    A) $50 bn
    B) $150 bn
    C) $120 bn
    D) $100 bn
    View Answer
    Option D
    Some Extra:
    The initial authorized capital of the bank is $100 bln divided into 1 mln shares having a par value of $100,000 each.
  6. What is the initial subscribed capital of the BRICS New Development Bank?
    A) $50 bn
    B) $150 bn
    C) $120 bn
    D) $100 bn
    View Answer
    Option A
    Some Extra:
    The initial subscribed capital of the NDB is $50 bln divided into paid-in shares ($10 bln) and callable shares ($40 bln).
    The initial subscribed capital of the bank was equally distributed among the founding members.
    The Agreement on the NDB specifies that the voting power of each member will be equal to the number of its subscribed shares in the capital stock of the bank
  7. Who is the first president of BRICS New Development Bank?
    A) Arvind Panagariya
    B) Amitabh Kant
    C) K.V. Kamath
    D) Bibek Debroy
    View Answer
    Option C
    Some Extra:
    On 11 May 2015, K. V. Kamath was appointed as the President of the bank.
    K.V. Kamath is the
    President of New Development Bank
    former Independent director at Infosys
    former Chairman of ICICI Bank
  8. How much is the share of India among the shareholders of BRICS New Development Bank?
    A) 15%
    B) 12%
    C) 20% 
    D) 18%
    View Answer
    Option C
    Some Extra:
    The current distribution of shares between NDB member countries is equal i.e 20% each for Brazil, Russia, India, China and South Africa.
  9. BRICS New Development Bank allow the new member countries to join the bank , however the BRICS capital share cannot fall below ____.
    A) 54%
    B) 60%
    C) 51% 
    D) 55%
    View Answer
    Option D
    Some Extra:
    The bank will allow new members to join but the BRICS capital share cannot fall below 55%.
  10. For which of the following member countries, did the BRICS New Development Bank sanctioned its first loan? 
    A) China
    B) India
    C) South Africa
    D) Brazil 
    View Answer
    Option A
    Some Extra:
    On 21 December 2016, the NDB signed its first loan agreement. The loan agreement approving the provision of RMB 525 mln sovereign project loan for the Bank’s first project in China (Shanghai Lingang Distributed Solar Power Project) was signed by the Chinese Vice Minister of Finance Shi Yaobin and the NDB President K.V.Kamath.

 

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6 Thoughts to “Banking Awareness Set 82 (BRICS NDB Bank)”

  1. IBPS RRB PO-2018

    8/10 ty:)

  2. kumkum ahuja

    ty az 🙂

  3. Jellyfish

    Ty az
    pls post daily one set of banking awareness

  4. swati

    thank you team….. AZ please provide more sets like this….

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