"I have to say, contrary to earlier Brics meetings, this time it was evident that all five countries are very enthusiastic about the importance of the new development bank. On this even from the World Bank and the IMF we have received good vibrations - I have had conversations with several leaders of the Bank and the Fund," Basu said.
Brics countries enthused about development bank
India and other members of Brics grouping have agreed to establish a task force to come up with recommendations to set up a developmental bank, a move that has received 'good vibrations' from the World Bank and IMF. "The fact that there would be a task force to elaborate on the proposal for a Brics-led developmental bank has been agreed upon. We are all very enthusiastic about this," Kaushik Basu, the Chief Economic Advisor to the Finance Ministry, told PTI in an interview.