The New Development Bank (NDB) created by the BRICS countries has taken a big step during the Ukraine crisis. The bank has banned all new transactions in Russia with immediate effect, citing the uncertainties and restrictions created by the war.
NDB issued this statement
NDB said that the bank will continue its business as an international institution in line with the highest compliance standards. The NDB was formed by the BRICS grouping of Brazil, Russia, India, China, and South Africa to raise funds for infrastructure and sustainable development projects. This bank assists BRICS countries as well as other emerging developing economies.
AIIB also stopped projects
The NDB made this announcement a day after the Asian Infrastructure Investment Bank (AIIB) imposed sanctions on Russia and Belarus. Giving information about this in a statement released on the NDB website on Thursday, it was said that because of the current situation, new transactions in Russia have been stopped. China-based AIIB had announced the suspension of all its projects in Russia and its close country Belarus because of the Ukraine crisis.
Watching the situation in Russia-Ukraine
Former Reserve Bank of India governor Urjit Patel is AIIB's vice-president (investment operations), while it is headed by former Chinese finance minister Jin Liqun. The bank has financed many projects in Russia-Belarus. In a statement posted on the bank's website, AIIB has said that our bank is actively monitoring the situation and in the current situation, to maintain the bank's financial purity, it has also decided to suspend all activities related to Russia and Belarus. It has been decided to make an assessment.
The DMK government of Tamil Nadu has opened a front against the central government on the issue o
British Prime Minister Boris Johnson is on a two-day visit to India. The British PM reached Ahmed
Winter season is going on in India and the days have become shorter but today i.e. 22nd December
Monsoon has departed from many states of the country, while many states are witnessing torrential
Harpreet Singh Lalia, a resident of Nagpur in Maharashtra and one of the 104 Indians deported fro
The G7 summit is being held at the southern Italian coastal resort Borgo Egnazia in Puglia, Italy
Team India's winning streak continues in the T20 World Cup. The Indian team, which won a thrillin
'Normal' or 'beyond normal' rainfall is likely over parts of North India, most parts of Central I
Aurangzeb's tomb in Sambhajinagar district of Maharashtra is in danger. Bajrang Dal and Vishwa Hi
Modi government's 'digital strike' on fake news, 8 YouTube channels blocked
Fake news has become the biggest challenge for the government in this era of social media. The Mi
