{"id":78591,"date":"2016-10-15T12:15:36","date_gmt":"2016-10-15T06:45:36","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=78591"},"modified":"2016-12-03T14:41:46","modified_gmt":"2016-12-03T09:11:46","slug":"cabinet-approves-mou-on-general-cooperation-between-exim-bank-with-ndb-and-other-development-financial-institutions-of-brics-nations","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/10\/15\/cabinet-approves-mou-on-general-cooperation-between-exim-bank-with-ndb-and-other-development-financial-institutions-of-brics-nations\/","title":{"rendered":"Cabinet approves MoU on General Cooperation between Exim Bank with NDB and other Development Financial Institutions of BRICS nations"},"content":{"rendered":"

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) on General Cooperation with New Development Bank (NDB) through the BRICS Interbank Cooperation Mechanism by Government at the level of Secretary, Department of Economic Affairs\/Export Import Bank of India. The proposal will enhance trade and economic relations among the BRICS countries. There is no financial implication involved with signing of the MoU. The participating institutions from the BRICS nations will be benefitted by this MoU.
\nThe MoU is a non-binding umbrella agreement aimed at establishing a cooperation framework in accordance with the national laws and regulations, besides skills transfer and knowledge sharing amongst the signatories, Further, establishment of the NDB reflects the close relations among the BRICS countries and provides a powerful instrument for increasing their economic cooperation and help India play an enhanced international role. Therefore, keeping in view the strategic relevance of cooperation for sustainable development and inclusive economic growth, the signing of MoU is necessary in the context of cooperation extended by the Members in various forms for promoting and facilitating trade of goods and services as well as investments in mutual projects among the BRICS countries.
\nBackground: <\/strong>Five banks from the BRIC nations had established the BRICS Interbank Co-operation Mechanism to enhance trade and economic relations amongst the BRIC countries, and enterprises. The BRICS Interbank Co-operation Mechanism now proposes to sign a Memorandum of Understanding (MOU) on General Co-operation with the New Development Bank.<\/p>\n

Ministry of Finance<\/p>\n","protected":false},"excerpt":{"rendered":"

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[],"class_list":["post-78591","post","type-post","status-publish","format-standard","hentry","category-business_news","category-news"],"yoast_head":"\nCabinet approves MoU on General Cooperation between Exim Bank with NDB and other Development Financial Institutions of BRICS nations | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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The objective of the MoU is to establish a strategic framework of cooperation in Science, Technology and innovation and to address the common\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":209669,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/02\/07\/mou-between-india-and-brazil-on-cooperation-in-the-field-of-traditional-systems-of-medicine-and-homeopathy\/","url_meta":{"origin":78591,"position":1},"title":"MoU between India and Brazil on cooperation in the field of Traditional Systems of Medicine and Homeopathy","author":"Bhumika Indulia","date":"February 7, 2019","format":false,"excerpt":"The Union Cabinet chaired by Prime Minister Narendra Modi has approved Memorandum of Understanding (MoU) between India and Brazil on cooperation in the field of Traditional Systems of Medicine and Homoeopathy. Benefits: The MoU will enhance bilateral cooperation between India and Brazil in the areas of Traditional Systems of Medicine.\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/traditional-medicine.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/traditional-medicine.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/traditional-medicine.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/traditional-medicine.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/traditional-medicine.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":7071,"url":"https:\/\/www.scconline.com\/blog\/post\/2014\/12\/17\/mou-s-agreements-signed-between-india-and-russia\/","url_meta":{"origin":78591,"position":2},"title":"MoU\u2019s \/ Agreements signed between India and Russia","author":"Sucheta","date":"December 17, 2014","format":false,"excerpt":"On 10-11 December 2014, several Memorandum of Understanding (MoU\u2019s)\/ Protocols\/ Agreements were signed between India and Russia. 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