Multiple choice

The BRICS countries firmed up a plan to set up a New Development Bank (NDB) with an initial authorised capital of $100 billion. The NDB will be headquartered in

  1. New Delhi

  2. Shanghai

  3. Moscow

  4. Jonesburg

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The National Development Bank will be headquartered in Shanghai. It will have an initial authorised capital of \$100 billion and an initial subscribed capital of \$50 billion, equally shared by the five member countries.

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