BRICS development bank to issue up to $500 million in masala bonds | Reuters
By Manoj Kumar and Rajesh Kumar Singh | NEW DELHI NEW DELHI The New Development Bank set up by the BRICS group of major emerging economies plans to raise up to $500 million via rupee-denominated masala bonds in the second half of the year, the bank's president, K.V. Kamath, said on Thursday.The BRICS - Brazil, Russia, India, China and South Africa - agreed to create the infrastructure-focussed lender in July 2014 as an alternative to the World Bank
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