UPSC 2015 CDS I GK Paper

Statement (a) was not an outcome of the fifth BRICS summitheld in Durban in South Africa in March 2013. South Africa hostedthe fifth BRICS Summit from 26th to 28th March, 2013 at the Durban International Convention Centre (ICC). In this summit, BRICS countries agreed to establish the New Development Bank and creation of a financial safety net through the creation of aContingent Reserve Arrangement (CRA) amongst the BRICS countries.