UPSC Civil Services Model Paper 6

During the sixth BRICS Summit in Fortaleza (2014), the leaders signed the Agreement establishing the New Development Bank (NDB).
Hence statement 1 is correct.
At the fourth BRICS Summit in New Delhi (2012) , the leaders of Brazil, Russia, India, China, and South Africa considered the possibility of setting up a new Development Bank to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies, as well as in developing countries .
Bank’s Articles of Agreement specify that all members of the United Nations could be members of the bank, however, the share of the BRICS nations cannever be less than 55% of the voting power.
Hence statement 2 is correct.
New Development Bank (NDB) :
The initial authorized capital - US$ 100 billion
The initial subscribed capital - US$ 50 billion, equally shared among founding members.
Headquartered - Shanghai, China.
First President - K. V. Kamath
The first chair of the Board of Governors - from Russia.
The first chair of the Board of Directors - from Brazil.
The first President of the Bank - from India.
The New Development Bank Africa Regional Center - South Africa