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?
Show answer
Answer: B. Statement 1 is wrong: the New Development Bank was set up by BRICS (Brazil, Russia, India, China, South Africa), not APEC. Statement 2 is correct: its headquarters is in Shanghai, China. So only 2.
Watch for: Students confuse NDB with AIIB, or BRICS with APEC.
Why the other options are wrong
- A. Wrong because NDB was set up by BRICS, not APEC.
- C. Wrong because Statement 1 is false.
- D. Wrong because Statement 2 is correct.
Source to check: New Development Bank website (ndb.int); Ministry of External Affairs, Fortaleza Declaration, BRICS Summit 2014
Answer from the official UPSC key. Written and fact-checked by AI against the official key. Spotted a mistake? Report it.