PERSONS IN NEWS
Eminent banker Kundapur Vaman Kamath was on 11 May 2015 appointed as the first President of the New Development Bank (NDB) of BRICS nations. He will have of five year term after the bank becomes operational within one year. He was conferred with Padma Bhushan Award in 2008. The Leaders of Brazil, Russia, India, China and South Africa (BRICS) had meeting in 2014 and reached an agreement to establish the New Development Bank, with its headquarters in Shanghai. As per the agreement, India got the right to nominate the first president.