The largest private sector bank of India, ICICI bank has become the first financial institution in the country to tie up with the New Development Bank to explore opportunities around bond issuance, co-financing, treasury management and human resources.
The decision to consider each other as preferred partner to work in the aforementioned areas has been taken by the head of New Development Bank, Mr. K V Kamath. This MoU would help NDB in exploring bond issuance opportunities in the Indian and international bond markets, particularly in rupee-denominated bonds.
Extra Info : BRICS contains – Brazil, Russia, India, China, South Africa.
New Development Bank : Established by BRICS and headquarter in Sanghai, China
So let’s discuss some questions related to this post :
1. Name the bank which has become the 1st Indian bank to partner with NDB ?
2. Headquarter of NDB is located at which place ?
Courtesy : Business Standard