Consider the following statements : 1. New Development Bank has been set up by APEC.
Consider the following statements :
1. New Development Bank has been set up by APEC.
2. The headquarters of New Development Bank is in Shanghai.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
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(b) (i) The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a Multilateral Development Bank established by the BRICS states (Brazil, Russia, India, China and South Africa). Its headquarter is in Shanghai, China.
(ii) First statement is wrong- its BRICS nations. 2nd is right - HQ is Shanghai.
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