Exim Bank Signs MoU With BRICS Development Banks

Exim Bank of India has signed a multilateral cooperation agreement with member development banks of BRICS to undertake “collaborative research” in distributed ledger/blockchain technology.
The MoU signed by Exim Bank Managing Director David Rasquinha was an outcome of the discussions the member development banks had during their annual meeting, with the objective of strengthening the cooperation under the BRICS Interbank Cooperation Mechanism. Under this umbrella agreement, the signatories have agreed to constitute a joint research working group which will formulate the research agenda and targeted outcome. 
Source- The Hindu Business Line

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • BRICS is made up of China, Brazil, Russia, India and South Africa.
  • In December 2010, China, as the Chair, invited South Africa to join BRIC and attend the Summit in Sanya, China.
  • Exim Bank Headquarters in: Mumbai, Founded in: 1982. 
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