UPSC Prelims 2016·GS1·polity-and-governance·social justice and international relations

Consider the following statements: 1. New Development Bank has been set up by APEC. 2. The headquarters of New Development Bank is in Shanghai. Which of the statements given above is/are correct?

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  1. A1 only
  2. B2 onlyCorrect
  3. CBoth 1 and 2
  4. DNeither 1 nor 2

Explanation

Consider the following statements regarding the New Development Bank (NDB): 1. New Development Bank has been set up by APEC. This statement is incorrect. The New Development Bank (NDB) was established by the BRICS member states (Brazil, Russia, India, China, and South Africa), not APEC (Asia-Pacific Economic Cooperation). 2. The headquarters of New Development Bank is in Shanghai. This statement is correct. The headquarters of the New Development Bank is located in Shanghai, China. Therefore, only statement 2 is correct.
polity-and-governance: Consider the following statements: 1. New Development Bank has been set up by APEC. 2. The headquarters of New Developme

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