BRICS Bank Registers Indian Rupee Bond Programme Worth $2.5 Billion

The New Development Bank of the BRICS group of nations is registering an Indian rupee bond programme worth $2.5 billion over 5 years, its Chief Financial Officer Leslie Maasdorp said on Wednesday during a panel discussion, according to a Reuters report.

Meanwhile, Prime Minister Narendra Modi on Tuesday attended the BRICS Leaders Retreat and deliberated on global developments with other leaders of the five-member bloc, as per the PTI report.

Modi arrived here on Tuesday on a four-day visit to South Africa and Greece. In South Africa, he is expected to take part in the 15th BRICS Summit in Johannesburg from August 22-24 at the invitation of the country's President Matamela Cyril Ramaphosa.

This is the first in-person BRICS Summit after three consecutive years of virtual meetings due to Covid-19 pandemic.