PM offered me BRICS bank chief job, but declined it: Swamy

March 10, 2015 16:52

In July last year, we had reported that leaders of the BRICS emerging market nations have launched a $100 billion development bank and a currency reserve pool in their first concrete step toward reshaping the Western-dominated international financial system.

The bank, aimed at funding infrastructure projects in developing nations, will be based in Shanghai, and India will preside over its operations for the first five years, followed by Brazil and then Russia, leaders of the five-country group announced at a summit, we had then said.

Since then, speculation has centred around who will be the bank's first Indian head.

BJP politician and former Union minister Subramanian Swamy shed some light on the matter today when he tweeted that Prime Minister Narendra Modi wanted him to head the BRICS Bank but he had declined the offer.

The reason: It would mean going abroad, while Swamy obviously wants to stay on in India.

You can see Swamy's tweet here.

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