BEIJING: India and other members of the BRICS grouping today agreed to step up collaboration to combat terror funding and money laundering. Senior finance officials from BRICS countries agreed at a meeting in Shanghai to strengthen cooperation in nine fiscal and financial areas.Brazil, Russia, India, China and South Africa will push the development of the BRICS New Development Bank, ensuring it plays an important role in BRICS cooperation, according to an official document released after the second BRICS finance ministers and central bank governors meeting. Local currency bond markets in BRICS countries will be advanced through collaboration, while a cooperation framework for public private partnerships will be set up, state-run Xinhua news agency reported citing the document.
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