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Friday, September 6, 2013

India Must Wait to Play Kitty Party at Brics

India Must Wait to Play Kitty Party at Brics
India will have to wait for much longer than it had hoped to play kitty party with the group of five emerging economies and draw support from a common currency pool.

Though the group of five — Brazil, Russia, India, China and South Africa, aka BRICS — has already agreed to a $100 billion common reserve, with China contributing the most, the member-countries are nowhere near agreement on how soon to make it functional.

To read full story, please visit Financial Chronicle Online