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UPSC 2016: Consider the following statements: 1. New Development Bank has been set up by APEC. 2. The headquarters of New Development Bank is in Shanghai. Which of the statements given above is/are correct?
(a)1 only
(b)2 only
(c)Both 1 and 2
(d)Neither 1 nor 2
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Not attemptedCorrect Answer: (b) 2 only
The New Development Bank was created by the BRICS nations, not APEC, in 2014; its permanent headquarters is in Shanghai, China. Hence Statement 1 is incorrect while Statement 2 is correct.
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Frequently Asked Questions
What is the correct answer to this UPSC 2016 Indian Economy question?▼
The correct answer is option (b): 2 only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this International Institutions & Reports question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2016, GS Paper 1, as Question 67. It falls under Indian Economy > International Institutions & Reports.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from International Institutions & Reports?▼
UPSC has asked 39 questions from International Institutions & Reports (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.