UPSC Previous Year Question | Prelims GS | 2016

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?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer

Correct Answer

2 only

Explanation

The New Development Bank has its headquarters in Shanghai, making statement 2 correct. It was set up by the BRICS group of nations, not by APEC, making statement 1 incorrect.

Topics: brics institutions, international organisations, international relations, new development bank