Which of the following statements about the New Development Bank is/are correct? 1. The Headquarters of the Bank is situated in Moscow, Russia. 2. K. V. Kamath was the first President of the Bank. Select the correct answer using the code given below.

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Correct answer: b) 2 only. Key Concept: The headquarters of the New Development Bank BRICS are located in Shanghai, China. Explanation: The headquarters of NBD was officially inaugurated on the 9th of December 2004 in Shanghai, China Mr. K.V. Kamath from India was the first President of the New Development Bank. He served the bank from 2015 to 2020. Overview: Formation: Established at the 6th BRICS Summit in Fortaleza, Brazil, 2014 Headquarters: Shanghai, China Observer Status: Received in the United Nations General Assembly in 2018 Objectives: Foster development in member countries Support economic growth Promote competitiveness and job creation Build a knowledge-sharing platform among developing countries Support public and private projects through loans, guarantees, equity participation, and other financial instruments Recent Proposal: India's Proposal: Expand NDB’s scope to include strengthening social infrastructure (e.g., healthcare, education, housing) alongside promoting industry Major Projects Funded in India: Mumbai Metro Rail Delhi-Ghaziabad-Meerut Regional Rapid Transit S

Which of the following statements about the New Development Bank is/are correct? 1. The Headquarters of the Bank is situ…

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