New Development Bank
NDB gives nod to float tenders for Rs 1,734 cr Shimla ropeway projects
The New Development Bank (NDB) has given a go-ahead to the Himachal Pradesh Ropeways Corporation to float advance tenders for the construction of Rs 1,734-crore Shimla ropeway project. Once complete, the project is expected to decongest the state capital. The tender process is expected to start soon and 50 per cent of the 13.79-km ropeway will be completed in two years, officials said here on Tuesday. "A big success for state capital Shimla, NDB has given permission for floating advance tenders for the project, paving way for construction of the ropeway. The 13.79-km ropeway would be the longest ropeway in the country and second longest in the world," Himachal Pradesh Deputy Chief Minister Mukesh Agnihotri, who also holds the portfolio of transport and ropeways, said in a post on his social media account. The contribution of the Himachal Pradesh government will be 20 per cent while NDB will fund the remaining 80 per cent, of which 90 per cent will be subsidy and 10 per cent loan.
 "NDB gives nod to float tenders for Rs 1,734 cr Shimla ropeway projects")
Brics' New Development Bank aims to make $5 billion in loans in 2024
Brics Chief Zhou also said he expected China's economy to grow about 5% this year, in line with the government's target
 "Brics' New Development Bank aims to make $5 billion in loans in 2024")
Birics' development bank aims to issue first Indian rupee bond by October
The New Development Bank (NDB) issued its first rand bond in South Africa last week and could consider local currency issuance in members Brazil, Russia and United Arab Emirates
 "Birics' development bank aims to issue first Indian rupee bond by October")
PM Modi to inaugurate regional centre of New Development Bank on July 29
The New Development Bank's regional office in GIFT City will identify projects with strong development impact
 "PM Modi to inaugurate regional centre of New Development Bank on July 29")
Nearly a third of NDB's funding provided for fighting Covid: NDB President
NDB has approved more than $3.6 billion loan for seven operations that entail on-lending through national financial intermediaries.
 "Nearly a third of NDB's funding provided for fighting Covid: NDB President")
India at BRICS meet: Aatmanirbhar Bharat a global initiative, says Goyal
Minister bats for widening the scope of NDB to strengthen social infra
 "India at BRICS meet: Aatmanirbhar Bharat a global initiative, says Goyal")
NDB to lend $500 mn for rapid transition system between Delhi and Meerut
The total project cost is estimated at $3.75 billion, will also be financed by Asian Infrastructure Investment Bank, ADB, among others
 "NDB to lend $500 mn for rapid transition system between Delhi and Meerut")
FM calls for consensus on taxing digital firms like Google, Facebook
Some 129 countries are in talks to rework global tax system to make digital firms pay tax regardless of their physical presence or measured profits in a country
 "FM calls for consensus on taxing digital firms like Google, Facebook")
India supports expansion of New Development Bank membership at BRICS meet
India on Monday supported expansion of the membership of New Development Bank, set up by India and other BRICS nations, and emphasised on the importance of regional balance.
 "India supports expansion of New Development Bank membership at BRICS meet")
Low interest rate regime critical for survival of banks: K V Kamath
Praising the decision of the RBI for extending moratorium to borrowers till August, Kamath said it was very well done
 "Low interest rate regime critical for survival of banks: K V Kamath")
Brazil's Troyjo to be new head of BRICS bank; SBI's Anil Kishora vice-prez
The decisions were made on Wednesday at a special meeting of the Board of Governors in accordance with the Articles of Agreement of the NDB and its procedures, a press release from the bank said
 "Brazil's Troyjo to be new head of BRICS bank; SBI's Anil Kishora vice-prez")
BRICS' New Development Bank provides $1 bn loan to India to fight Covid-19
The Shanghai-based New Development Bank (NDB) was established by the BRICS (Brazil, Russia, India, China, South Africa) countries in 2014 and is headed by veteran Indian banker K V Kamath.
 "BRICS' New Development Bank provides $1 bn loan to India to fight Covid-19")
India and its Brics dilemmas
The five-country group faces challenges arising from bilateral differences and diverse political systems
BRICS bank plans to tap Indian Rupee offshore market to raise capital
The Shanghai-based NDB - floated by Brazil, Russia, India, China and South Africa (BRICS) - is headed by renowned Indian banker K V Kamath
 "BRICS bank plans to tap Indian Rupee offshore market to raise capital")
NDB approves $1.4 bn loan for projects in India, China and Russia
Bank has approved $470 mn loan for Madhya Pradesh's Rural Drinking Water Supply Project
 "NDB approves $1.4 bn loan for projects in India, China and Russia")
European development bank strikes pact with New Development Bank
MoU formalises EBRD's partnership with the BRICS development bank
Criteria for new NDB members soon: K V Kamath
When asked for names of potential new members, he said question was a bit premature
India seeks $2 bn funding from New Development Bank, wants it nimble-footed
The NDB is considering setting up of an Africa Regional Centr
 "India seeks $2 bn funding from New Development Bank, wants it nimble-footed")
BRICS development bank to lend $2.5 billion next year: KV Kamath
Shanghai-based New Development Bank will expand its staff to 300 over the next three years
 "BRICS development bank to lend $2.5 billion next year: KV Kamath")
New Development Bank plans rupee, rouble bonds
NDB, more popularly known as the BRICS Bank, had earlier issued its first bonds to raise funds internationally for clean energy projects in member states
