SSC Selection Post 2025 PYQ — Question 12

Correct Answer

None

Explanation

BRICS (Brazil, Russia, India, China, and South Africa) does not have a permanent headquarters or a centralized secretariat. The cooperation between member nations is informal, and the leadership rotates annually among the member states, referred to as the 'BRICS Chair'. However, the 'New Development Bank' (NDB), which was established by the BRICS nations, is headquartered in Shanghai, China.

Key Points

The rotational leadership structure ensures that each member country hosts the annual summit. The NDB is the primary financial institution created by the group to fund infrastructure and sustainable development projects in emerging economies, and it is based in Shanghai.

Important Questions and Answers

Question: What does the acronym BRICS stand for?

Answer: BRICS stands for Brazil, Russia, India, China, and South Africa.

Question: What is the primary objective of the New Development Bank (NDB)?

Answer: The primary objective of the NDB is to mobilize resources for infrastructure and sustainable development projects in BRICS countries and other emerging market economies.