{"id":89852,"date":"2021-02-25T17:01:19","date_gmt":"2021-02-25T11:31:19","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=89852"},"modified":"2021-03-01T14:21:40","modified_gmt":"2021-03-01T08:51:40","slug":"india-hosts-meeting-of-brics-finance-and-central-bank-meeting-2021","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-hosts-meeting-of-brics-finance-and-central-bank-meeting-2021\/","title":{"rendered":"India hosts meeting of &#8220;BRICS finance and central bank Meeting&#8221; 2021"},"content":{"rendered":"<p><strong>What is the News?<\/strong><\/p>\n<p>India has virtually hosted the BRICS Finance and the central bank meeting.<\/p>\n<p><strong>BRICS Finance and the central bank Meeting:<\/strong><\/p>\n<ul>\n<li>It was the first meeting on the BRICS Financial Cooperation held under India\u2019s Chair.<\/li>\n<li>The meeting was co-chaired by the Secretary, Department of economic affairs, Ministry of finance, and Deputy governor, Reserve Bank of India(RBI).<\/li>\n<li>Other participants in the meeting included <a href=\"https:\/\/forumias.com\/blog\/answereddiscuss-the-role-of-brics-as-a-bridge-between-developed-and-developing-countries-what-are-its-current-concerns-and-issues-that-must-be-resolved\/\" target=\"_blank\" rel=\"noopener noreferrer\">BRICS finance<\/a> and central bank deputies of Brazil, Russia, China and South Africa.<\/li>\n<\/ul>\n<p><strong>Issues discussed during the meeting:<\/strong><\/p>\n<ul>\n<li>During the meeting, India has discussed issues such as:\n<ol>\n<li>Global Economic Outlook and Response to COVID-19<\/li>\n<li>Social Infrastructure Financing and Use of Digital Technologies<\/li>\n<li><a href=\"https:\/\/factly.forumias.com\/finance-minister-attends-new-development-bank-governors-meet\/\"><strong>New Development Bank(NDB) <\/strong><\/a>Activities<\/li>\n<li>Fintech for SME and Financial Inclusion,<\/li>\n<li>BRICS Contingent Reserve Arrangement (CRA).<\/li>\n<\/ol>\n<\/li>\n<\/ul>\n<p><a href=\"https:\/\/forumias.com\/blog\/conflicts-should-be-resolved-through-peaceful-means-brics\/\"><strong>Click Here to Read about BRICS<\/strong><\/a><\/p>\n<p><strong>\u00a0<\/strong><strong>BRICS chairmanship for 2021:<\/strong><\/p>\n<ul>\n<li>India has assumed the chairmanship for BRICS in 2021. It is the year in which BRICS is celebrating its 15th anniversary.<\/li>\n<li><strong>Theme<\/strong>: BRICS@15: Intra-BRICS Cooperation<\/li>\n<\/ul>\n<p><strong>BRICS Contingent Reserve Arrangement(CRA)<\/strong><\/p>\n<ul>\n<li><strong>Established in: <\/strong>It was established in 2015 as a part of the Fortaleza Declaration at the Sixth BRICS summit.<\/li>\n<li><strong>Aim: <\/strong>It aims to provide short-term liquidity support to the members through currency swaps. It will help to mitigate the Balance of Payment(BOP) crisis situations in case such a situation arises.<\/li>\n<li><strong>Other objectives:<\/strong>\n<ul>\n<li>It will help member countries to forestall short-term liquidity pressures,<\/li>\n<li>Moreover, it will provide mutual support and further strengthen financial stability.<\/li>\n<li>It would also contribute to strengthening the global financial safety net and complement existing international arrangements (from IMF) as an additional line of defence.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleseDetailm.aspx?PRID=1700502\"><strong>PIB<\/strong><\/a><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"G3H7h5lGZp\"><p><a href=\"https:\/\/forumias.com\/blog\/answered-brics-is-becoming-a-magnet-for-many-emerging-economies-in-light-of-this-discuss-the-significance-of-brics-as-a-pillar-of-the-emerging-fairer-poly-centric-world-order\/\">[Answered] \u201cBRICS is becoming a magnet for many emerging economies.\u201d In light of this discuss the significance of BRICS as a pillar of the emerging, fairer poly-centric world order.<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;[Answered] \u201cBRICS is becoming a magnet for many emerging economies.\u201d In light of this discuss the significance of BRICS as a pillar of the emerging, fairer poly-centric world order.&#8221; &#8212; Free UPSC IAS Preparation For Aspirants\" src=\"https:\/\/forumias.com\/blog\/answered-brics-is-becoming-a-magnet-for-many-emerging-economies-in-light-of-this-discuss-the-significance-of-brics-as-a-pillar-of-the-emerging-fairer-poly-centric-world-order\/embed\/#?secret=iXzg5cxAxI#?secret=G3H7h5lGZp\" data-secret=\"G3H7h5lGZp\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? India has virtually hosted the BRICS Finance and the central bank meeting. BRICS Finance and the central bank Meeting: It was the first meeting on the BRICS Financial Cooperation held under India\u2019s Chair. The meeting was co-chaired by the Secretary, Department of economic affairs, Ministry of finance, and Deputy governor, Reserve&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-hosts-meeting-of-brics-finance-and-central-bank-meeting-2021\/\">Continue reading <span class=\"screen-reader-text\">India hosts meeting of &#8220;BRICS finance and central bank Meeting&#8221; 2021<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1351,1310,164,9],"tags":[1420],"class_list":["post-89852","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-daily-news","category-daily-news-updates","category-international-relations-daily-factly-articles","category-public","tag-ir_3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700774587,"cached_date":1704897102},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/89852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=89852"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/89852\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=89852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=89852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=89852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}