Consider the following statements:
- New Development Bank has been set up by APEC.
- The headquarters of New Development Bank is in Shanghai.
Which of the statements given above is/ are correct?
[UPSC Civil Services Exam – 2016 Prelims]
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
- The proposal for setting up the New development bank was given by India at the 4th BRICS summit in 2012 held in Delhi.
- The new development bank was created by BRICS in 2014. Hence statement 1 is incorrect.
- It is headquartered in Shanghai, China. Hence statement 2 is Correct