India has recently signed to become a founding member of the New Development Bank (NDB) and also the Asian Infrastructure Investment Bank (AIIB). How will the roles of the two Banks be different? Discuss the strategic significance of these two Banks for India. (12.5 marks, 200 words)
Posted inUPSC - Mains Solved Paper GS 2

India has recently signed to become a founding member of the New Development Bank (NDB) and also the Asian Infrastructure Investment Bank (AIIB). How will the roles of the two Banks be different? Discuss the strategic significance of these two Banks for India. (12.5 marks, 200 words)

India's recent decision to join as a founding member of both the New Development Bank (NDB) and the Asian Infrastructure Investment Bank (AIIB) underscores its commitment to bolstering global economic cooperation and development initiatives.