The announcement of a BRICS development bank in the context of the ongoing global economic turmoil assumes a specila significance. Some perceive it as an alternative to the already discredited World Bank with its North Centric leadership resulting in a dogmatic imposition of neo-liberal conditionalities on the indebted South; many assume this as a watershed, signaling the shift in global economic governance from the traditional powerhouses of the North to the newly emerging powerhouses of the South; while others perceive it as a tool to be used by the member countries to increase their influence in their respective Southern pockets.
This section includes articles analysing the emergence of BRICS Development Bank and its possible implications for global economic governance, regional impact of the BRICS nations, and other repercussions. Banking with a Difference C.P. Chandrasekhar (August 12, 2014)