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Press Trust of India

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Press Trust of India

India's largest news agency, Press Trust of India is a non-profit sharing cooperative owned by the country's newspapers. PTI's subscribers include newspapers, television channels, the state-run All India Radio and Doordarshan, the national broadcaster, government organisations, websites and several media and non-media organisations. With a staff of 1300 including 400 journalists, PTI has over 70 bureaus across the country and corresondents in major cities in the world.

Besides its flagship English News Service, PTI also has PTI Photo Service and news service in Hindi, India's national language.

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Latest Press Release
K V Kamath

K V Kamath


KV Kamath appointed BRICS bank president
New Delhi, May 11 (PTI) Eminent banker K V Kamath was
today appointed as head of the USD 50 billion New Development
Bank being set up by the five emerging economies of BRICS
grouping.
Kamath will have a five year term of the bank, which is
likely to be operationalised within one year, Finance
Secretary Rajiv Mehrishi said.
Kamath is the Chairman of the India's largest private
sector bank ICICI.
Leaders of the emerging economies of Brazil, Russia,
India, China and South Africa (BRICS) had last year reached
an agreement to establish the New Development Bank, with its
headquarters in Shanghai. As per the agreement, India got the
right to nominate the first president.
Kamath has been named the first president of the NDB,
Mehrishi said.
The BRICS nations account for nearly USD 16 trillion in
GDP and 40 per cent of the world's population.
The bank will start with an initial paid-in-capital of
USD 50 billion with each BRICS country contributing USD 10
billion. PTI