Congress highlights ex-PM Singh's 2012 proposal for BRICS bank during Modi's Brazil visit.

During Prime Minister Narendra Modi's visit to Brazil for the BRICS Summit, the Congress party highlighted former PM Manmohan Singh's 2012 proposal for a BRICS Development Bank, now known as the New Development Bank based in Shanghai. Singh's proposal came during India's first BRICS Summit hosting in 2012. The BRICS grouping, formed in 2006, has expanded to include additional countries since its inception. India has borrowed about $8 billion from the bank for infrastructure projects. This visit is part of Modi's five-nation tour.