K.V. Kamath appointed as head of New Development Bank

Q.  Who has been appointed as the head of the New Development Bank being set up by the five emerging economies of BRICS grouping?
- Published on 14 May 15

a. K.V.Kamath
b. Ratan Tata
c. Mukesh Ambani
d. Kumar Mangalam Birla

ANSWER: K.V.Kamath
 
The Leaders of Brazil, Russia, India, China and South Africa (BRICS) had meeting in 2014 and reached an agreement to establish the New Development Bank, with its headquarters in Shanghai. As per the agreement, India got the right to nominate the first president.

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