The New Development Bank (NDB) said it has appointed Rajiv Ranjan, a career central banker who has served on the rate-setting panel of the Reserve Bank of India (RBI), as its vice-president and chief risk officer.
The appointment is for five years.
Ranjan had played a key role in the monetary policy and liquidity related functions at the RBI, which he had joined in 1989. He had served as an executive director and a member of the RBI's Monetary Policy Committee since May 2022 and was to retire next month.
Set up in 2015 by the BRICS grouping, the Shanghai-headquartered multilateral lender has so far approved $39 billion in financing various development projects in member-nations.
NDB aims at mobilising resources for infrastructure and sustainable development projects in BRICS and other emerging economies. Each of the original five BRICS members (Brazil, Russia, India, China and South Africa) hold 18.98% in the development bank.
The appointment is for five years.
Ranjan had played a key role in the monetary policy and liquidity related functions at the RBI, which he had joined in 1989. He had served as an executive director and a member of the RBI's Monetary Policy Committee since May 2022 and was to retire next month.
Set up in 2015 by the BRICS grouping, the Shanghai-headquartered multilateral lender has so far approved $39 billion in financing various development projects in member-nations.
NDB aims at mobilising resources for infrastructure and sustainable development projects in BRICS and other emerging economies. Each of the original five BRICS members (Brazil, Russia, India, China and South Africa) hold 18.98% in the development bank.
