New Development Bank (NDB), a multilateral lender developed by BRICS member nations, said on Monday it had appointed India's central bank executive director, Rajiv Ranjan, as its vice president. Ranjan has been appointed as the vice president for five years, according to a statement. He will also serve as the chief risk officer, according to the NDB website. Ranjan, who joined the Reserve Bank of India in 1989, has served as an executive director and a member of the monetary policy committee since May 2022. The New Development Bank was established in 2015 by Brazil, Russia, India, China and South Africa (BRICS) for mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries.
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