Interbank Cooperation Mechanism Current Affairs, GK & News
The Cabinet has approved signing of Interbank Local Currency Credit Line Agreement and Cooperation Memorandum relating to Credit Ratings by Exim Bank with member banks under BRICS Interbank Cooperation Mechanism. These agreements were highlighted in BRICS Leaders Xiamen Declaration adopted in Xiamen, China in September 2017. Cabinet has authorized Board of Directors of Exim Bank ..
Five banks of BRICS Interbank Cooperation Mechanism (ICM) have agreed to establish local currency credit lines and develop cooperation on credit ratings. In this regard, they have signed agreement ahead of 9th BRICS summit to be held in Xiamen, China. These five banks are Brazilian Development Bank, Russia’s Vnesheconombank, Export-Import Bank of India (EXIM), China ..